Certified Distressed Property Expert:

As a Certified Distressed Property Expert and Realtor, I can give the expertise necessary to save their credit, relieve the uncertainty and most of all, help their family. Foreclosures can lower their credit score from 250 to over 300 points and will affect their score for over 3 years. Foreclosures will also remain on their credit history for 10 years or more. With a successful Short Sale, this will only affect their credit score as little as 50 points and only affect their score for 12 to 18 months. Short Sales also are not reported on credit history. Call Mary Anderson for a private consultation to get started toward a path of recovery. I AM HERE TO HELP! Mary’s cell 608-438-8072

I can save 9 out of 10 people from going into foreclosure.

Chances are, you or someone you know in the Dane County area that is facing the possibility of foreclosure. But you need to understand that you are not alone.

Today, 1 out of every 10 homeowners in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it's important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.

Through my experience handling distressed properties at Bunbury & Associates Real Estate, I've found that homeowners today have more questions than answers about their circumstances. I have created this site to help you understand the possible solutions to foreclosure, as well as provide a detailed explanation of short sales, which may be the best course of action for some homeowners.

You may also have noticed that I'm offering you a FREE Report to explain your options and help you decide on a course of action. The idea of losing a home can be overwhelming, and I feel it is vital for you to have all the facts necessary to make an informed decision.

As an agent with the CDPE® Designation, I have a strong and unique appreciation of the factors affecting the market, and know that there are options available to you.

If you would like to know more about your options, please call me at 608-438-8072.

I am here to help … in any way I can.

Mary Anderson

What is a Short Sale?

A short sale is a solution for homeowners who need to sell and owe more on their home than it is worth. A homeowner is “short” when the amount owed is higher than the current market value. Today, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:

• Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
  
• Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
  
• Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

What Creates a Short Sale Property?

A few situations can cause financial hardships giving you trouble affording your mortgage:

Mortgage Increase * Decrease in Home Value * Loss of Job * Death in Family

Severe Illness * Separation * Divorce * Relocation * Too Much Debt

Do I Qualify for a Short Sale?

If you cannot afford your current mortgage, have missed or are about to miss your mortgage payments and/or have a financial hardship give Mary Anderson, your local CDPE (Certified Distressed Property Expert), a call. Mary will discuss your options and give you informative answers to your questions. Mary can help save you from foreclosure.

How Long Does a Short Sale Take?

The Short Sale process takes time. It may take a few weeks to several months to get a Short Sale approved. Many Lenders have several layers of management, insurers, and investors that will have to be dealt with in order to get a Short Sale approved. So it is important to be patient during this long process.

Is There Enough Time to do This Before a Foreclosure?

Maybe, maybe not. Typically if you have not received your foreclosure notice there is enough time. Just starting a Short Sale will not automatically stop a foreclosure. However, many times a Lender can be convinced to postpone the foreclosure to let a Short Sale negotiation take place. So, while there are no guarantees, it does not hurt to try.

Does This Always Work?

No promises or guarantees can be made to you that this will work. Once you fall behind on your loan, the Lender can proceed to foreclosure if they want to. Lenders don’t want to foreclose and Lenders will often agree to a Short Sale rather than foreclose. Mary Anderson has had 100% results with her sellers. If a Short Sale is attempted but doesn’t work, your house will likely go to foreclosure.

What is a Release?

A Lender may offer to "release" its security interest against the property in exchange for less than the total amount of the note. A release will allow the property to be sold without paying off the obligations of the note. Advantages: This successful Short Sale will allow the property to be sold and thus avoid a foreclosure. Disadvantage: If the lender reports this release to the credit bureaus it will show up on your credit report as a charge off. Reality: It is not likely that the Lender will pursue the deficiency unless you have other significant assets, and if you don’t try a Short Sale and the property goes to foreclosure, you are likely going to have a deficiency on any junior mortgages you might have anyway.

Are There Any Tax Consequences?

You should always consult your tax professional.

Will I Get Any Money From The Sale?

When Lenders approve a Short Sale, they require that the Borrower (seller) not receive any money from the sale of the property, since the Lender is going to take a loss on the loan.

Can I Keep the House Through a Short Sale?

The purpose of a Short Sale is to get the property sold. So you do not keep the house, and you will be moving. This is not a solution that will allow you to remain in the house.

What is a CDPE®?

Mary Anderson has dedicated her time and effort in becoming certified as a Distressed Property Expert through an extensive educational course specifically designed to help families or individuals experiencing a hardship which might cause them to lose their home. This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. I hold the CDPE® Designation and am ready to identify all possible options and, when possible, assist in the execution of a short sale transaction.

Mary Anderson, your local CDPE® Professional, understands a wide range of solutions and is prepared to help. Mary Anderson can help you or someone you know in avoiding the loss of a home, which will help in maintaining credit.

Foreclosure Rates are on the rise. It only takes 60 days for the average person to become distressed and begin the cycle of foreclosure. Seven out of 10 homeowners in foreclosure proceed without contacting a real estate professional. Don’t allow this to happen to you or those you care about.

Call Mary Anderson your local CDPE® Professional today. Mary cares and would like to help you or someone you know through this stressful situation.

Start spreading the word – You don’t have to lose your home to foreclosure! There is a solution!

Call Mary to discuss your Short Sale or Pre-Foreclosure Now!

Cell 608-438-8072

email: manderson@bunburyrealtors.com