Wisconsin Foreclosure Legal Advice

What:            FREE LEGAL HELP!  For homeowners facing foreclosure. Help available in English and in Spanish. Ayuda disponible en español también.

Who:              For homeowners who have received a Foreclosure Summons and Complaint

When:           11:00 am – 1:00 pm, Thursday, March 1, 2012

Where:          City-County Building, 3^rd floor, 210 Martin Luther King Jr. Blvd.

Cost:              FREE!

PLEASE DISTRIBUTE WIDELY AND ADD TO ALL EVENT CALENDARS. THIS IS A RECURRING EVENT, 1^ST AND 3^RD THURSDAY OF EACH MONTH.

Thank you for your help in disseminating this vital information.

FREE LEGAL HELP is available for Dane County homeowners in foreclosure.  Homeowners can receive basic legal information and free assistance in writing an Answer to the lawsuit at the Foreclosure Answer Clinic.

The Clinic has assisted almost 200 homeowners to understand the legal process of foreclosure and to respond their lawsuit.  Homeowners who respond in writing to the lawsuit have more control over the process and a better chance for a favorable outcome.

Homeowners have ONE CHANCE to file a formal response, called an Answer, to their foreclosure lawsuit.  Filing an Answer is one of the critical things a homeowner MUST do even if the homeowner is in communication with the lender and working on options such as a loan modification or short sale.

Time is of the essence because homeowners generally have only 20 calendar days from the date they receive the initial lawsuit papers to file an Answer.  Failing to file an Answer to the lawsuit on time significantly reduces homeowners’ control over the process and their ability to share their story with the judge.  In addition, they may not be notified of important steps in the court process of foreclosure.

The Clinic is open the 1st and 3rd Thursdays of each month from 11:00 a.m. to 1:00 p.m. on the 3rd floor of the City-County Building, 210 Martin Luther King Jr. Blvd, Madison.   No appointments are necessary.  Homeowners should bring their Summons and Complaint as well as any other relevant papers about the foreclosure.

For more information contact: Dan O’Callaghan (608) 283-0117 or Ellen Bernards (608) 576-8658.

The Foreclosure Answer Clinic is a collaborative effort of the Dane County Foreclosure Prevention Taskforce, the Dane County Bar Association and the UW Law School, with grant funding provided by the State Bar of Wisconsin and other support provided by Dane County.

Who We Are.  The Dane County Foreclosure Prevention Taskforce is a coalition of public agencies, non-profit service providers and other community partners working together to develop sustainable alternatives to foreclosure in Dane County.  For more information, please visit daneforeclosurehelp.org.

Our Mission.  To develop and implement a coordinated response to the current foreclosure problem in Dane County.

Press Release – Foreclosure Answer Clinic 03-01-12

If your bank or attorney has recommended that you look into a short sale of your home, we would be happy to help. For more information on Short Sales, please visit the links below:

What is a Short Sale?

Free Short Sale Home Evaluation

Is a Short Sale right for my home?

You've read about short sales online or maybe you have heard about them on TV. Now you are wondering if this could be a good option for your Wisconsin house. In simple terms, a short sale is a process in which your bank agrees to accept a sale amount on your home that is lower than what you currently owe. There are many reasons why you might consider an option like this.

• Your home is 'underwater'. You currently owe more on your home than what you could sell your home for on the market.
• You have recently experienced a financial hardship. These hardships can include losing a job, under-employment, recent medical expenses, divorce, or a death in the family.
• You are falling behind on your mortgage payments or may soon have to. Your monthly expenses exceed the amount of money you are bringing home.

Whatever the reason you may have to be considering a short sale on your Wisconsin home, we would be happy to help you evaluate your particular situation. Rock Realty has helped many Wisconsin homeowners work with their bank to come up with a resolution. Feel free to fill out our no obligation online form for further assistance.

Short Sale Home Evaluation

Additional Short Sale Information

• What is a short sale?
• Is a Short Sale right for my home?
• Half of Homeowners Underwater on their Mortgage
• Buying a Wisconsin home after a Short Sale or Foreclosure
• Benefits of Buying an Owner-Occupied Wisconsin Short Sale
• Tips for Buying a Wisconsin Short Sale

Benefits of Buying an Owner-Occupied WI Short Sale

There are often overlooked benefits to buying an owner occupied Wisconsin Short Sale home. It’s amazing just how much of a difference having someone living in a property can make. Here are some of the upsides that I have noticed in a Wisconsin owner occupied short sale home versus a vacant Foreclosure:

-  It feels like a home. When someone is living in a short sale home, there is furniture and pictures on the wall. It has already been somewhat ‘staged’ for showings. This helps potential home buyers get a feel for what an office or kids bedroom would look like if they purchased the home.

- The grass is mowed. This helps with weed and rodent reduction. It also keeps the neighbors happy.

- The air conditioning remains on. I have come across some foul smells in vacant foreclosure homes. When a property sits sealed up for too long, there is almost always a stale smell that results.

- The heat remains on in the winter. This helps to prevent plumbing from freezing and the resulting water leaks.

- The electricity remains on. In Wisconsin, this is important for basements. When sump pumps don’t have electricity, flooding often occurs. This can result in a very costly fix. It also means that the refrigerator is cooling and dishwasher is being used. This can prevent mildew growth.

- The water is being used. Many Wisconsin homes require a water softener due to hard water. With the water being used, the softener is allowed to work. This will prevent sediment build-up which can ruin a water heater and clog up pipes.

- Property Condition Report. When a bank lists a foreclosure property, they do not have to provide a Property Condition Report. Wisconsin doesn’t require a report if the current owner has not lived in the property. In a Wisconsin Short Sale, the owner is legally required to inform potential buyers of any defects they are aware of.

Additional Short Sale Information

• What is a short sale?
• Is a Short Sale right for my home?
• Half of Homeowners Underwater on their Mortgage
• Buying a Wisconsin home after a Short Sale or Foreclosure
• Benefits of Buying an Owner-Occupied Wisconsin Short Sale
• Tips for Buying a Wisconsin Short Sale

Michael Collins Completes Short Sales & Foreclosures Course - Receives SFR Designation

Wisconsin Short Sales
Madison Wisconsin Short Sale Realtor®
Janesville Wisconsin Short Sale Realtor®
Beloit Wisconsin Short Sale Realtor®

Michael Collins has just returned from Madison, WI where he completed a highly specialized course in Short Sales and Foreclosures conducted by the Council of Residential Specialists of the NATIONAL ASSOCIATION OF REALTORS®.

FOR IMMEDIATE RELEASE

PRLog (Press Release) – May 06, 2011 – Michael Collins - Broker
(608)921-8536
Mike@RockRealtyWI.com
www.RockRealtyWI.com

MICHAEL COLLINS COMPLETES SHORT SALES & FORECLOSURES COURSE

(Janesville, WI) --- (6/10/2010) --- Michael Collins has just returned from Madison, WI where he completed a highly specialized course in Short Sales and Foreclosures conducted by the Council of Residential Specialists of the NATIONAL ASSOCIATION OF REALTORS®.

This course is one in a series of professional education sequences required to qualify
for the coveted Short Sale & Foreclosure Resource (SFR) designation. The Short Sale and Foreclosure process was presented from the standpoint of the real estate professional working with Buyers and Sellers. The one-day course addressed the challenges of working with Short Sales, introduced essential tools to assist Sellers through the Short Sale process and provided counseling strategies for working with Buyers and Sellers of distressed properties - all intended to ensure the professionalism of residential sales associates in handling these types of sales.

"There are many approaches for assisting clients through the difficult and emotional
transition of the Short Sale and Foreclosure process,” said Collins, "and I have
already begun to apply the strategies covered during this course in my work at Rock Realty.

The Council of Residential Specialists Courses are presented throughout the U.S. in
affiliation with the NATIONAL ASSOCIATION OF REALTORS®, as part of its on-going
program of promoting the professionalism of the residential sales associate.

# # #


Rock Realty is a brokerage that specializes in short sale and foreclosure properties. Our broker, Michael Collins is SFR (Short Sale & Foreclosure Resource) certified. We would be happy to help you buy or sell a home in Southern Wisconsin!

Michael Collins Completes Prestigious RSD Designation to Specialize in Bank Owned Homes

Wisconsin Short Sales
Madison Wisconsin Short Sale Realtor®
Janesville Wisconsin Short Sale Realtor®
Beloit Wisconsin Short Sale Realtor®

Michael Collins in Janesville WI, has earned the prestigious Harris Real Estate University Certified Real Estate Owned Specialist Designation (RSD), having completed extensive training in the techniques necessary to secure, negotiate and sell (REOs).

FOR IMMEDIATE RELEASE
PRLog (Press Release) – Apr 28, 2011 – Michael Collins Completes Prestigious RSD Designation to Specialize in Bank Owned Homes

April 1, 2011 Michael Collins, Broker of Rock Realty in Janesville, has earned the prestigious Harris Real Estate University Certified Real Estate Owned Specialist Designation (RSD), having completed extensive training in the techniques necessary to secure, negotiate and sell Bank Owned Properties (REOs). This REO training is invaluable during the current recession, especially in housing markets where foreclosure rates continue to climb.

A property becomes an REO if the original owner fails to pay their mortgage and the lending bank is forced to repossess it. The bank then reaches out to qualified REO designated brokers and agents to sell the home and recover their investment. Without access to experienced REO Listing agents, lending authorities must continue to hold onto the foreclosed property as an investment loss.

“The Harris Real Estate University RSD designation has been invaluable as I work with banks and lenders on complicated BPO & REO assignments. In Janesville Wisconsin, an increasing number of homes are in some stage of foreclosure. And it is happening with homes of every price range,” said Michael Collins, “It is so rewarding to be able to help banks rehabilitate these homes, get them back on the market, and find eager homebuyers so we can improve the condition of our neighborhoods. My RSD training through HREU has enabled me to work with more lenders, move more properties and get some of these vacant homes sold!”

Tim and Julie Harris, founders of the Harris Real Estate University in Las Vegas, NV, said “Realtors such as Michael Collins with the HREU RSD designation have valuable training in REO properties and can help banks find qualified buyers using our extensive techniques. Through our in-depth training and continuous education programs, these agents better understand market conditions that will help lenders appraise their properties through a BPO and eventually sell their REO inventory.”

The Harris Real Estate University opened in 1998 and provides REO agent training through webinars, teleseminars and teleconferencing. Agents can earn their HREU REO Listing Designation remotely from their offices all across the nation. The RSD is the premier designation for Realtors who develop an expertise in Bank Owned properties.

“Our goal is to prepare our enrolled agents for the increasingly competitive REO market. It’s becoming more difficult for uncertified agents to out-sell our graduates. Our comprehensive RSD Designation gives them everything they need to gain an edge over other agents in their communities,” Harris said.

If you feel you are in need of more information about REO properties, or if you are a lender looking for a certified Bank Owned Property Realtor, call Rock Realty for more information at 608-921-8536. We also offer in depth BPO (Broker Price Opinion) services.

Specializing in the sale of REO homes and commercial properties in the Madison, Beloit, Evansville & Janesville areas, Rock Realty lists homes for sale in Dane and Rock County. Contact Michael Collins at 608-921-8536 for more information, or visit www.rockrealtywi.com

Late Mortgage Payments? Act Sooner than Later

When the economic environment puts a strain on your ability to pay your mortgage it is important to act sooner than later. Even if you have not missed any payments it is not too soon to take action. There are many resources to help struggling homeowners avoid losing their home to foreclosure.

First, collect all your bills from everyone you owe money to. Total all your expenses per month and compare it to your total income each month. If you can foresee any difficulty now or in the near future making your payments it is time to take immediate action. Gathering this information will also help you be more prepared when speaking with the lender.

Contact your lender(s) and explain your situation to find out if they can work with you. The $275 billion Homeowners Affordability and Stability Plan that just passed should make it easier for banks to refinance or modify your mortgage. Low-cost refinancing will help with mortgages that are more than 80 percent of the current home value. Loan modification under the Homeowners Stability Initiative will assist owners with a total debt that is 55% of their total income. More information about the Stability Plan program is found at this website:

www.financialstability.gov/

If you do not feel comfortable speaking with your lender you can contact a reputable mortgage counselor. Visit www.hud.gov or call 1-800-569-4287 for a list of HUD approved housing counselors. These agencies may also have credit counseling available. These services are usually free.

Selling your house may be the only option that works for your situation. If you have enough equity you may be able to sell your home and pay off the mortgage. If not then you may have to ask the bank to take less than what is owed in a short sale. At this stage please contact Rock Realty at 1-877-774-ROCK(7625).

Don't wait to be behind many payments to take action. If you can anticipate difficulty with paying your mortgage now or in the near future there are steps you can take to help avoid foreclosure. Calculate your financial situation to find your ability to pay your mortgage. Contact the bank for any programs they may have for making your payments more affordable. You can speak with a housing counselor for assistance in helping straighten out your finances. If all your other options no longer work contact Rock Realty to help you plan a short sale. The longer you wait the fewer options you may have.