With all of the Short Sales we do here in Rancho Palos Verdes and surrounding cities, it is amazing to see the levels of fraud within the mortgage systems of banks.  Short Sales require having all of your documentation in order and complete. The same is not true on the bank’s side when they foreclose on home owners. This 60 minutes video is a must see for anyone going through the frustrating foreclosure process.

“It was just a matter of cutting corners,” Sheila Bair, chair of the Federal Deposit Insurance Corporation, tells CBS’ Scott Pelley.

Step 1) Find out if you qualify for one of the Government foreclosure relief programs (Making Home Affordable)

Step 2) Apply for relief with your lender.

Step 3) Consult a Real Estate Professional who works with Short Sales (Not all Agents have these skills and training).

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If you or someone you know is behind on their mortgage and facing foreclosure the government’s new HAFA program may be a way to make a fresh start and avoid the pitfalls of foreclosure. Contact our office today for additional information.