Call-Lamont.com: Foreclosure Avoidance FREE Information Center - Understanding Foreclosure Avoidance Transactions

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Avoiding Foreclosure

Understanding Foreclosure Avoidance Transactions...

Lenders who are asked to decide between accepting your short-sale offer and accepting the property at foreclosure will do whichever is best for them, as determined largely by a Worksheet like the one shown below.

Loss from Short Sale			Loss from Foreclosure
Unpaid Principal Balance	+ $	____________	Unpaid Principal Balance	+ $	____________
Interest accrued to estimated short payoff close	+ $	____________	Interest accrued to the foreclosure sale date	+ $	____________
Escrow Advance (estimate to short payoff close date)	+ $	____________	Escrow advance (estimate to foreclosure sale date)	+ $	____________
Other advances, fees and costs	+ $	____________	Other advances, fees and costs	+ $	____________
Foreclosure fees and costs (incurred to date)	+ $	____________	Foreclosure fees and costs est. to foreclosure re-sale date	+ $	____________
Short Payoff Offer	- $	____________	As-is BPO value (90 day marketing time)	- $	____________
Short Payoff Closing Costs	- $	____________	Income from REO (if any)	- $	____________
Mortgage insurance proceeds (total debt x mortgage insurance percent coverage)	+ $	____________	Mortgage insurance proceeds (total debt x mortgage insurance percent coverage)	+ $	____________
Borrower contribution (cash if any)	+ $	____________	Borrower ongoing note (if any)	+ $	____________
Government Bail-out/Stimulus	+ $	____________	Government Bail-out/Stimulus	+ $	____________
Estimated Short Sale Loss to Lender	= $	____________	Estimated Foreclosure Loss to Lender	= $	____________

IMPORTANT NOTICE: Lamont Kinkade and Trails West Real Estate are not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

©2012 Northwest Montana Association of Realtors®. The property data on this web site comes in part from the Internet Data Exchange (IDX) program of the Northwest Montana Association of REALTORS® Multiple Listing Service, Inc. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Trails West Real Estate shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data.

Real Estate Agents Disclosures and recommendations(READR) • Code of Ethics

Standard Recommendations, Policies & Practices: In the interest of providing smooth & trouble-free transactions based on fully informed decisions of the parties; the recommendations & disclosures of our Guides to Real Estate Transactions in Montana should apply in all client and customer relationships. Additional copies available on request. Likewise all Anti-Discrimination Laws, Real Estate Statutes, Regulations & Code of Ethics requirements shall apply. Disclosures,Terms,Conditions & Disclaimers: The information contained herein has been obtained from sources deemed reliable, but we do not guarantee its accuracy. Any and all square footages, dimensions, acreages, gallonages, other representations or flaggings are “courtesy estimations” only, and must be verified personally by Buyer. Offerings are made subject to change, error, omission, correction, sale or withdrawal without notice. Notice: If this document contains any offer (expressed, implied or inferred) such offer is void where prohibited by prior contractual commitments or law and is not available for property and persons already subject to an exclusive agency or exclusive right to sell marketing agreement (listed). We are pleased to cooperate with all exclusively designated Real Estate Agents. See also “Real Estate Agents Disclosures and Recommendations” (READR); copies available on request. * Depending upon characteristics of each unique property, any custom marketing plan may include some, all or none of the activities shown, at the sole discretion of the Listing Agent. All results are dependent on pricing, terms and conditions being consistent with the evolving market conditions. The above items are not intended or offered as legal, tax, or accounting advise but are strictly for general informational purposes only, accordingly all consumers are advised to seek competent legal and tax advice before signing anything or consummating any transaction. The Lakeshore Team is a part of Trails West Real Estate. Fully Licenced Montana Broker, Licence Number: 16273BRO.

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