Welcome to my Foreclosure Facts and Opportunities Toolkit.

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Here I will share with you some of the knowledge and experience I’ve gained over the past several years dealing with the complexities of short sales, REOs, and bank foreclosures. It can be a confusing and frustrating environment, but I’ve found that with some patience and persistence, sellers can successfully negotiate a short sale with their bank… and qualified buyers can seize the opportunities available in this down market. Strangely enough, a win-win is possible in this environment.

In 2007 as the housing market began to turn downward, few people were familiar with the terms short sale or REO. Today it is estimated that between 30 to 40% of Hawaii real estate transactions are distressed sales in which the property is sold for less than the seller owes the lien holder. I’ve been in the thick of it, not shying away from difficult situations and working with stressed-out homeowners who are facing foreclosure.

The Hawaii Senate recently billed me as “one of the isle’s top foreclosure experts”. I’m here to help you sell your home. If the best option is working with your lender to accept a fair short sale contract, I have a team that will get the job done!  And if you’re fortunate enough to be a qualified buyer, chances are good that we know a seller with a property for sale at a fraction of what he paid for it.

I hope you find this information helpful.

Ron

Short-FAQ

 

Short Sale FAQ – A short sale occurs when the proceeds from a sale are less than the amount owed to the lienholders after all closing costs are paid. Many people have questions about whether they can do a short sale and why they would want to. This FAQ will answer most of the common questions that homeowners have.

 

 


avoid-foreclosure1Options to Avoid Foreclosure – this searchable PDF explain the various options for when a homeowner gets behind on a mortgage or a financial hardship is imminent.

Making Home Affordable – These programs began in the spring of 2009 to help homeowners having financial hardships. The Programs from the Treasury Department include: HAMP (Home Affordable Modification Program) HARP (Home Affordable Refinance Program) HAFA (Home Affordable Foreclosure Alternative).

Pre-Qual for a Government Program – Answer a few simple questions to see if you might qualify for one of several government-assisted programs as described in the Making Home Affordable Program.


Buying-ShortorREO

 

FAQ – Buying a Short Sale – In a property market where some of the best values are short sale opportunities, buyers need an to have an understanding of how the process works so that their expectations are realistic. Patience is the key. This tool will help you understand some of the unique differences in a short sale transaction.

FAQ – Buying an REO – When the bank forecloses on a homeowner and deeds the property back to itself, it is an REO (real estate owned) property. It is usually listed by a Realtor who represents the asset manager of the bank or the bank itself. Understanding what the asset manager is looking for is very important.


top10reo

 

Top Ten REO vs. Short Sale – Recently the national news has been filled with reports about the housing market and how 30 to 40 percent of its transactions are coming from the distressed housing market. This document will illustrate the differences when purchasing either of these well-priced property types. 

Act 48 – this landmark legislation in Hawaii affects how the foreclosure process works for  property owners in Hawaii. I have written several articles to simply explain the legislation, the law itself (if you really want some complicated reading) and a presentation I made to the Senate and House back in June, 2011.

 


Buyers-Guide

 

Hawaii Life Buyer’s Guide – This booklet contains information specific to purchasing real estate in the state of Hawaii. It contains state-specific terms like HARPTA and FIRPTA and an explanation of the parts of the process involved in purchasing properties like inspections, contingencies, covenants and restrictions and more.

Distressed Property Deals – organized by area of the island, these lists will direct you to a gallery of properties that you can view and move to your own collection as you continue your search for the perfect property on the Garden Island. We look forward to assisting and supporting that process.

North Shore of Kauai bank-owned properties
North Shore of Kauai short sales
Kapaa-Wailua bank-owned properties
Kapaa-Wailua short sales
Lihue-Puhi bank-owned properties
Lihue-Puhi short sales
Latest list of South Shore of Kauai bank-owned properties
Latest list of South Shore of Kauai short sales


HI-LAW

 

Hawaii Act 48 Update – Short commentary on the law’s effect on our market as printed in The Garden Island

Hawaii Act 48 – Law passed on May 5, 2011 reforming the foreclosure process in the state of Hawaii – Read all the legalese here
Act 48 Informational Update – Informational briefing delivered to Hawaii State Government on 6/29/2011.

 

 


Reference Tools – Use the Glossary of terms below as your dictionary and search the PDF when you come across and unfamiliar set of words. The local resources guide has a comprehensive set of housing resources including inspectors, builders, and other professionals who provide valuable homeowner services.

Glossary of Terms – Use this searchable PDF to find an explanation or definition of most commonly used real estate terms.

Local Resources for services you can shop for – Please call me for my personal recommendations.

Affordability Calculator – Shop within your means. Determine what an affordable price is depending on loan rates and conditions.

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