Tagged : REO

The word foreclosure is not a pleasant word in the world of real estate for either the lender or the mortgage holder. Foreclosure essentially means the mortgage is being terminated, typically because of lack of payment of the part of the mortgage holder. Foreclosure proceedings can also refer to the process of the government foreclosing on the property owner for unpaid taxes.

Most mortgages, whether for commercial or residential real estate, operate on the basic principle of borrowing money from a bank or other lending institution for the purchase of property. The bank needs to secure the money they have lent, so this requires security, which is often the property itself. The lending institution is then relatively safe in the event the mortgage holder…

BRUCE SWEDAL EARNS PRESTIGIOUS DESIGNATION TO HELP HOMEOWNERS IN DANGER OF FORECLOSURE

BRUCE SWEDAL of RE/MAX SOUTHEAST, INC. 3600 S YOSEMITE ST. SUITE 150, DENVER, CO 80237 has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider…