To Our Homeowner, we work diligently to get your house sold at the right time for the right price. We work to educate you to all factors affecting the market, and the area around your community. We let you know what you need to do as a homeowner to prepare your home to sell. If you want to refinance and need a realtor to prepare Current Market Analysts we provide that.

If you are behind in payments as several million people are today, we work with you to get in touch with your mortgage companies to see what options you have to avoid foreclosure.

There are many solutions today to save your home from being foreclosed on such as “The Make Home Affordable” in conjunction with the Government Economic stimulus Act of 2009. There are government counseling that you can find located on our web site.

If staying in your home is not an option for you based on unemployment, you owe more than your home is worth, or some hardship, there is a special sale called at “Short Sale” This is done by a license Realtor such as myself negotiating with your mortgage company. Please talk to an accountant as to how this can affect your taxes.

Short Sale

A short sale is a popular option for homeowners mired down with financial problems. In this case, you would sell your home for less than what you owe your lender; the biggest problem you will face is getting your lender to agree to a short sale. In many situations, they will. Experts advise pursuing this option the minute you realize that you are falling behind in your payments and most likely won’t be able to catch up. The longer you wait and the greater the amount you are in arrears, the less likely it becomes that your lender will even be willing to discuss a short sale. The lender pays all realtor fees and generally forgives the debit as a write off.

Almost any option is better than foreclosure!!

Simply stated, do everything you can before foreclosure occurs and do it as quickly as humanly possible. Don’t sit back and keep thinking, “What can I do?” Instead, consider that short sale and check with your lender before your options become more limited.

The One Best Tip I Can Give You: Don’t Do This Alone

"I successfully short sold my house, and the single biggest reason was my real estate agent. Having someone who could work on my behalf was incredible. Facing foreclosure is a scary thing, I know, I was about a month away from losing my home before I got my short sale done."

You Need An Experienced Short Sale Agent!

Nagel & Associates Realty, LLC is a REO Certified Specialist 303-949-9433

Three reasons a short Sale is better than a foreclosure:

What not many Realtors or advisors are willing to admit from the very beginning is that when a homeowner is in debt, both the foreclosure and a short sale can have a devastating impact on the credit history. However, choosing the lesser of the two evils is important. It’s natural for sellers to be concerned about the impact of a short sale on their credit score. Who wouldn’t?

As a homeowner who is facing a foreclosure, don't expect that a short sale will not leave any marks on your credit record. But keep in mind that a short sale will affect your credit score for a shorter period and that you have better chances to buy a home again soon.

Every state has different regulations on credit ratings but most often realtors talk about 80 to 100 point decrease in credit score due to a short sale. The score may be a little higher or lower depending upon other variables affecting the credit score as well. In case of a foreclosure, the credit drops by over 250 points! Even if you start off with an excellent 800 points credit, once you get a foreclosure on your report you will end up with 550 points, which is poor and hopeless.

What I find to be the biggest difference between foreclosure and short sale is that a short sale allows the purchase of a new property in case the owner does not miss any mortgage payments, has not signed a promissory note or a deficiency judgment has not passed. In case of any one of the occurrences, a homeowner has the freedom to buy a house within two years.

On the other hand, if the homeowner signs a foreclosure, about 5 to 7 years are needed to apply for a new mortgage. And as if that wouldn’t be enough the borrowing terms for the new mortgage may become tighter as well.

A big minus that foreclosure carries is the deficiency judgment and that makes a short sale to be a better option. The chances of deficiency judgment with a short sale are lower compared to a foreclosure as the lender agrees on solving the problem together. This implies that the bank is not acquiring the property in a short sale and the homeowner is selling it to a buyer which he would do otherwise. And that’s very important when thinking of your future financial security!

The decision is up to you in the end. But before making it think of what now affects you the most and most importantly, what will affect you in the future: your credit score, the period in which you won’t be able to buy another home and the deficiency judgment.

Today’s economy there are many companies representing to take over your house and pay your payments. PLEASE Talk to an Attorney about these companies and do not sign any documents until you investigate.

We know that the consumer has many questions and are very confused as to who they can get to help them today. We have a group of service providers that will be holding educational seminars for your questions that will include Realtors, Lenders, Loss Mitigations, and Tax Advisor’s. These will be scheduled once a month in Arvada, Aurora, Denver, and Green Wood Village.

As Realtor's we took an oath to protect the public and that is what we intend to do to the best of my ability by educating you and informing you of all your options and what to look for in mortgage and foreclosure scams.

Nagel & Associates realty, LLC

Sonja G Nagel Realtor

Direct 303-949-9433

Fax 303-465-0965

sonjagn@comcast.net