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Beware of Unscrupulous Investors
Over 1.2M Foreclosures occurred in the United States last year.

The foreclosure process begins when payments due on a loan are 90 days delinquent and the Bank records a "Notice of Default." When a "Notice of Default" is filed, many things happen immediately:

  • The Foreclosure Sale CLOCK starts ticking (111 Days)
  • Impact to the borrower's credit rating
  • Immediate difficulty in ones ability to refinance
  • Fewer options as provided by banks, realtors, others

At Clear Sky Partners, we aim to understand the needs of each client.
We understand that time is critical and quick action is a must. We are results oriented and knowledgeable.
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  • You have 111 Days from the first filing of the "Notice of Default" until your house can be sold at Public Auction
  • Even if the house is foreclosed and you get $0, you may still be responsible for the Bank's loss - called a "deficiency judgment." The bank may still be able to come after their loss
  • On average, a Foreclosure Sale will bring 75% - 80% of the market value of the property. Many times this represents a net $0 to the owner - e.g. YOU
  • The bank may and usually will send a 1099 to the owner for any loss the bank incurs. This may be TAXABLE as income to the owner, even if the owner receives $0 from the house. See IRS tax rules or your CPA for more information
  • If you refinanced or a loan is a "line of credit" the bank can still come after their loss from a Foreclosure Sale, even if the owner received $0 from the sale

Very little can be done if you Wait too long. If you wait until 30 days or less prior to a Foreclosure Sale, your options are significantly reduced!!!

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