Over the last few years I have worked steadily with the largest local and national banks and asset management companies as a preferred Realtor disposing of their foreclosed properties quickly and efficiently. I am a National Association of Realtors Certified Short Sale and Foreclosure expert.
I have successfully closed over $8 million in foreclosed properties in Sarasota and Manatee counties.
I am a member of the Res.Net and Equator networks.
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RES.NET provides an array of functional portals, each specifically designed for various aspects of the real estate industry. RES.NET synchronizes a community of business professionals, buyers, and sellers to each other while optimizing communication, automating task management, and centralizing data .
Equator is the country’s leading foreclosure listing and management platform for the real estate industry, enabling lenders to manage and sell Real Estate Owned (REO) properties. Equator’s software solutions enable real estate agents to provide the most current foreclosure information to clients, streamline interactions with lenders, and assist clients with the increasing demand for short sales.
What is a Foreclosure?
Foreclosure is the legal and professional proceeding in which a mortgagee, or other lien holder, usually a lender, obtains a court ordered termination of a mortgagor's equitable right of redemption. Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, the lender cannot be sure that it can successfully repossess the property, thus the lender seeks to foreclose the equitable right of redemption. Other lien holders can also foreclose the owner's right of redemption for other debts, such as for overdue taxes, unpaid contractors' bills or overdue homeowners' association dues or assessments.
The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property (immovable property) after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that "the lender has foreclosed its mortgage or lien". If the promissory note was made with a recourse clause then if the sale does not bring enough to pay the existing balance of principal and fees the mortgagee can file a claim for a deficiency judgment. (Source: Wikipedia)
