Foreclosure Scam Alert! Beware of False Promises To Save Your Home. 

Florida Attorney General’s office filed a lawsuit against two companies accusing them of misleading homeowners. Remember, if it sounds too good to be true, that is most often, your intuition warning you it is. 

Florida Attorney General’s office accused MGD Management LLC and CRS Marketing LLC who also is known as CRS Legal Management Group of misrepresentation. They are accused of marketing “STRATEGIC DEFAULTS”. 

There is a difference between making promises about strategic defaults and giving options about strategic defaults. When we speak to homeowners about their plans for strategic defaults we don’t take any money from them and we tell them ALL their options and that there is NO guarantee of any particular outcome. The attorneys we trust do likewise. 

These two firms were marketing this: 

“Stay in your home for FREE for years for $300 a month! We stall your Foreclosure!” 

The attorney general of Florida says this is deceptive marketing. They are correct in our experience because while many homeowners can even stay in their homes without making a mortgage payments sometimes for years- there is no surety this will happen. 

But they are also making claims that homeowners can keep their homes for years without paying thier taxes, insurance and HOA Fees!!! And we know about not paying your HOA fees don’t we!!! Click here to read about what happens when you don’t pay your HOA fees! 

We know homeowners who have not made a mortgage payment in four years while others are rushed through the foreclosure process in months. 

Most of the time these attorneys who make these claims and take the $300 to $500 per month are not doing anything for that money. There is a backlog of foreclosure filings in the court system. 

Attorney General Bondi said vulnerable homeowners need to be protected. She said that these companies preyed on Florida’s distressed homeowners who were already experiencing financial hardships. She went on to say that Florida residents are protected under the law from deceptive practices. 

Broward County Circuit Court issued a temporary injunction and granted a limited freeze on the company’s bank accounts. The court ordered the companies to stop all the alleged misrepresentations. 

Be careful out there. Call a reputable attorney for your foreclosure defense. Call a Licensed Realtor® who is experienced in doing many short sale successfully to go over your options with no obligation. Licensed Wellington Short sale listing agents are permitted to handle your short sale. Doing a short sale may be your best option. 

Call Nestor Gasset and Katerina Gasset today 561-753-0135 for a confidential phone short sale evaluation with no obligation and no pie in the sky promises. There are no guarantees. We are not attorneys and we are not giving legal advice. 


Although the word “short” in Wellington short sales technically refers to the decrease in the home’s selling price, most people nevertheless assume that it may also means a minimal waiting period – or maybe even none – for its processing. Unfortunately, the opposite’s more often true than not and here are the five most common reasons for it.


You are your own worst enemy. No doubt you’ve heard that line before, and it certainly applies to the short sale process. Short sales can be pretty distressing and especially when you find it particularly hard to admit to financial difficulties in your hardship letter. Just be reminded that the longer you delay the inevitable, more debt would be piling up on your doorway.

Price Appraisals

Banks don’t always have in-house professionals capable of appraising the fair market value of your property. Most of them contract appraisers to do this, and if they are dealing with a very busy appraisal company then that means more waiting on your part. In other cases, a BPO or broker price opinion is used instead. This, however, can also consume a lot of time.

Mortgage Insurance Company

Getting approval from the bank is hard enough as it is, but that’s just the beginning. The second hurdle in getting Wellington short sales approved will be to get a nod from your property’s mortgage insurance company instead. Paperwork that you get from the bank will have to be submitted to insurance companies. If you are lucky, you could have those papers reviewed and approved in several weeks. The average, however, would be around thirty to forty-five days.


Last but not the least, there’s the bank to consider. Banks play a very integral role in the short sale process and if they don’t give their green light to the deal then nothing would happen. Unfortunately, even if they do want the short sale to push through as quickly as possible as well, it still doesn’t end up that way.

If you’ve followed recent foreclosure reports, you may have noticed that a lot of banks are under fire for not showing up in mediation sessions with all the required paperwork. Well, it’s the same with the short sale process.

As you can see, even if you have a really good realtor working for you there are just some things in the Wellington short sales process that is entirely out of his or her hands.



If it is your first time to interview Wellington short sale realtors, be aware that some realtors can be
so effusive in their charm that they’ll make you forget it’s your role to take command of the interview
– and not the other way around. To ensure that you get the answers you need – and hopefully find
the ideal realtor to work with quickly as well – here are some questions that you may want to consider
including in the interview. They’re guaranteed to help you make the right decision.

How much experience does the realtor have with short sales?

Short sales and sales of brand new homes are as different as apples and oranges, and don’t let any
realtor tell you differently. Different rules are involved here and as such someone with significant
experience with selling brand new homes or even fixer-uppers may still not be entirely useful in helping
you complete a short sale for your property.

When interviewing Wellington short sale realtors about their experience, you should ask for a specific
example or case in which the realtor was involved with. Listen closely and examine the actions that the
realtor took in order to close the deal. If you were in the seller’s position, would you have been satisfied
with the realtor’s work?

How does the realtor plan to advertise your property?

Time is of the essence here. After all, short sales are often – but not always – pursued as a way of
preventing foreclosure. If this is true in your case then you need to make sure that the realtor you will
be working would be able to do everything possible to sell your home.

More specifically, your realtor must be able to do things that you personally can’t do on your own.
Consider Internet advertisements for instance. If your realtor has a high-ranking website to advertise
your property in then that’s a huge plus point for him or her.

How does the realtor plan to keep you updated?

While it’s paramount that you understand the need to give your realtor space to work on marketing and
selling your home, your realtor should also understand that you would be naturally anxious for updates.
If the realtor cannot commit to a specific schedule for updating you about the latest changes regarding
your home’s short sale then he or she is not the right realtor for you.

The best Wellington short sale realtors know what you are going through without a word being said and
will do their utmost to assuage your fears while working efficiently to get the best possible price for your


Palm Beach County Foreclosures are back in full swing again. The robo-signing disputes are pretty much over. All of 2011 we did not see very much foreclosure activity or many foreclosure lis pendens filings because 1. the banks were dealing with the robo-signing problems and 2. the big banks were waiting to see what they were going to end up negotiating with the administration. 

Last month almost 1,200 homes went into foreclosure! That is an increase of 58.5% over the same time last year. 

Sharon Block, the Court Clerk said she was not suprised at all. They were expecting this increase because of the delays from last year. 

The state of Florida is loooking for ways to deal with the 368,000 backlog in foreclosure courts. We need to be mindful of what those changes will be because you want to protect your property rights. There is a bill that just passed the house and is now in the state Senate regarding a fast track for foreclosures. 

Completed foreclosures are now also on the rise. In February there were 929 properties advertised for sale and about 68 % of these were closed on schedule. That is compared to about 49% from a year ago. 

If you have been living in your house without making payments for a few years, that time may be coming to a quick end for you shortly. It may be time for you to start making your plans about where you are going to move once the bank forecloses on your property. 

There may still be time for you to complete a Palm Beach County Short sale. Contact Nestor Gasset or Katerina Gasset at 561-753-0135 for a confidential short sale evaluation on the phone. You may even qualify for relocation cash to help you move from your lender. 


Short Sales can fail when you are not the one in control. By that I mean involved in the negotiations on the successful short sale approval. 

As Wellington short sale agents we have a very high rate of success in closing our short sale listings in Palm Beach County, Broward county, Miami/Dade county and St Lucie County. 

The only time we don’t have success on a short sale listing ( other than the foreclosure not being stopped- which has not happened in a few years) is when the seller has already chosen an attorney to do the short sale negotiations for him before listing their property with us or hires an attorney other than one we know does a good job with negotiations after we list the property. 

As Realtors® we have a code of ethics and standards of practice. In that it states that no Realtor® is to work in a field or area of real estate that they are not proficient in. 

REALTORS® shall not undertake to provide specialized professional services concerning a type of property or service that is outside their field of competence unless they engage the assistance of one who is competent on such types of property or service, or unless the facts are fully disclosed to the client. Any persons engaged to provide such assistance shall be so identified to the client and their contribution to the assignment should be set forth. (Amended 1/10) 

But what about attorneys and their assistants? Is there any duty that the BAR requires that attorneys don’t work in areas of real estate matters that they do not have competence in? Is there any requirements for those they hire to process and negotiate short sales to have short sale experience of some kind? No license is required? 

The attorneys in these situations are not the ones doing the negotiations. They have hired clerical people to do this work in their offices. So while they are working “under the supervision” of a licensed attorney I am wondering how much supervision they are actually getting? 

Case in point: 

1. Seller lists their Palm Beach County short sale with us. They chose us because of a referral ( a successful short sale seller). Then after they list their property, they hire an attorney who is doing their short sale. This seller is most likely qualified for HAFA which means he would get a release of his deficiency. The attorney does not want us to be involved in the negotiations. The approval letter comes back from the bank. The attorney has a clerical helper processing and negotiating ( if you can call it that) the short sale. The approval letter states that the first lien holder is NOT going to release their deficiency rights. Nestor asks the clerical person why they don’t have a HAFA approval. There is just silence on the other end of the phone. The clerical person never put this file through HAFA. The sellers refused the short sale terms and conditions from their lender. 

As real estate agents in Florida we can not advise these sellers about the incompetancy of the attorney’s office. We can not practice law so we just have to sit by and watch the sellers lose another buyer and maybe lose their home to foreclosure. 

2. Seller lists their Palm Beach County short with us. They choose an attorney to do their short sale processing and negotiations. The attorney refused to allow us to see the HUD1 settlement statement that was going in with the short sale package. He said it is because Brokers always have items they want changed. Really? Of course brokers have a say on the HUD1, they are making sure that disbursements of funds are correct and that the real estate fees are listed correctly, etc. Well, the HUD1 did not have mortgage insurance on it. The attorney argued with us saying that the seller did not have any MI. We were not talking about the kind you get when you take out your loan but rather the kind that the note owneres get to protect their bad notes when the market started falling and they knew that the defaults were coming. Of course, he refused to add it. Guess what! The short sale approval letter came in exactly how we said, $5000 shy of the net because there was MI insurance!!! Go figure! The sellers were so disenchanted and vulnerable at that moment that instead of trying to negotiate these terms, their attorney told them to do a DIL. 

3. Seller lists their short sale with us. They hire an attorney. The attorney has us working the short sale, showing the house, etc and the attorney was working the DIL at the same time. The attorney after we had invested money and time into this listing was going to get paid more money by doing a DIL than a short sale. We had to cancel the listing so that the sellers could do the DIL. 

4. Short sale sellers list their property with us but they were already having their attorney do the short sale negotiations. The attorney gets the approval letter with a request for a promissory note. We thought that was sort of peculiar since the sellers were again, most likely qualified for HAFA. HAFA was never pursued by the clerical help in this attorney’s office. 

We take a lot of pride in the fact that we have closed more short sales successfully from our listings over the years than most other agents with the same volume of listings since 2007. This goes against our success record on successfully closing short sales. It also leads to bad feelings between the sellers, the attorneys and us.

So at the end of the day, incompetence ruins relationships. Because of this, we will no longer be accepting short sale listings when the outcome is up to a clerical person in some attorney’s office somewhere who does not even know that you are supposed to try to get the sellers approved for HAFA or other incentivized programs the banks are participating in. We will no longer be accepting listings that are short sales if the sellers’ attorneys don’t know what a short sale prelim HUD1 is supposed to have on it. 


If your Wellington short sale agent has told you that the value of your property makes a short sale imperative, one of your first reactions could be shock or denial. Many homeowners are resistant about the idea of short selling their home as it could mean a tediously long process of negotiation with their lender as well as the risk of selling at a loss. Nevertheless, there comes a point in time when you need to learn how to let go of a home that’s steadily draining your bank account – and shows no signs of stopping from doing so.

If you want to confirm what you have learned so far from your short sale agent, you should consider asking the following people about it.


If you have your own real estate attorney or you know someone who practices real estate law, don’t hesitate to ask them about the consequences of doing a short sale.  Make sure the attorney you speak to is an expert in the field of short sales.


Again, you can ask either your personal accountant or anyone you know who’s in the accounting profession. Accountants take into consideration your financial standing.  They can help you understand just how long you can probably last before you start having trouble paying the bills, and it’s all because of your decision to stick with a property that is no longer financially practical to hold on to. Of course, you are going to need a place to live so you will need to figure that out to.

Financial Manager or Adviser

If you have someone managing your finances, you can definitely ask him or her about whether it’s a good time to short sell your home. It’s possible that your financial manager may have long thought of the same thing but refrained from broaching the topic out of concern for your personal feelings about it.

People you know who had previous success with short sales

Last but not the least you can confirm what your Wellington short sale agent is telling you by asking advice from family members, friends, and neighbors who had previous experience with short sales. They may even have some particularly helpful insights to share about the process and the kind of advice that may make it easier for you to adjust to the idea of short selling your home.

Wellington REO- Regional MLS for Palm Beach County added the REO field. 

This will make it easier for agents to search for their clients who want to purchase a bank owned property. 

An REO is “Real Estate Owned”. Most REOs are bank owned properties. But they can also be investors who purchase notes then foreclose on the homeowners and do cash for keys. Then they put the property on the market. They are also considered REOs because they foreclosed on the property and now have title to the property but are not homeowners per se. 

We help a company by listing and sell their properties after they foreclose on the homeowners or property owners. They buy the delinquent notes from the banks and other investors at a discounted rate. Then this company takes on the work of foreclosing on the note. 

Most buyers search for a foreclosed properties by using the terms, foreclosures or bank-owned. Very raraly will a consumer use the term “REO” unless they have some real estate background as that is real estate jargon. 

So having REO as a search field in the MLS has been a long time coming but not a direct benefit to consumers. Rather it is a great tool for agents to have to provide better service to their buyers. 

If you are an asset manager and need specialized Wellington Home Preservation services for your assets in Wellington Florida contact Nestor Gasset at 561-541-9936- his direct line for REO asset managers. 


Wellington Foreclosure Report For Zip Code 33414 

There are only 82  foreclosure properties in the zip code of 33414 which is the main part of Wellington according to Realtytrac. Some of us call this part of Welligton- the Village or you may consider it Wellington Proper which may be more like what you would call the main part of a town. 

During the real estate boom all the developers and builders wanted to be able to have a Wellington address. So they started to request to be annexed into Wellington. The Village of Wellington wanted to annex because that brings in more revenue to the town. 

So much of the eastern communities along 441 and further east like Olympia and Buena Vida got annexed into Wellington. 

But the interior or Wellington, the older parts of the town are what are like in your town might be your downtowns or your city propers. This also encompasses the southern and western Equestrian areas which were always Wellington. In the Wellington proper areas of Wellington you can walk to the store, the post office, the city center except of course out in the acreage and farm areas.  If you live in the exterior part of Wellington, the newer annexations, you have to drive to get to any place because your communities are located along State Rd 7 or 441. 

So in the zip code of 33414 there are 82 new foreclosure properties according to Realtytrac. That is one in every 262 housing units. This is considered to be a moderate amount of foreclosures. High would be one in 149 and low would be one in 455 units. 

For the entire western to central palm beach county one in every 255 housing units received some kind of foreclosure filing in the month of January 2012. 

Currently there are 82 bank owned properties in Wellington zip code 33414. 

ONLY 13 of these bank owned properties are listed in the Regional MLS for sale. 

Currently there are 263 properties in one stage of pre-foreclosure or another. This means that they are at risk of being filed a lis pendens on because they are late in making their mortgage payments or they have a lis pendens filing against their property. 

Only 81 of these are listed as a Wellington short sale for sale in Wellington zip code 33414. 

That is a lot of homeowners who are not doing anything about their delinquencies or they are trying to re-modify their loans or they are choosing to wait it out as long as they can. 

It is projected that foreclosures will speed up this year now that the government and the banks came to an agreement about the penalties for robo-signing and other things.

Don’t wait until it is too late to do something about your foreclosure. There are options out there for you. Call us today for a private confidential phone interview to go over your options. A Wellington short sale may be your best option and if it is, choose Wellington Short Sale Agents to list your home and negotiate your short sale.

Authored by Katerina Gasset- Copyright© 2012