Home financing options are available for those with bad credit or facing foreclosure.
As home prices and interest rates rise, so des real estate fraud.
People whose homes are in foreclosure or those with bad credit but seeking a way to buy their own houses can easily fall victim to schemes by underhanded investors.
“It’s understandable that people panic when facing the loss of their home,” said Jan Quintrall, president of the Better Business Bureau (BBB) serving eastern Washington.” Yet this is a situation that calls for clear-headed thinking. The BBB urges homeowners who are in financial distress to explore every alternative to keeping their home and avoid falling victim to easy solutions.”
Nearly 847,000 properties in the U.S. entered some stage of foreclosure during 2005, according to Realtytrac, a U.S. foreclosure report. Of that number, 14,865 were in Washington State. Foreclosure rates of 33 percent exist in some parts of the country, according to recent BBB statistics. Benton County lists 90 properties currently in foreclosure.
Foreclosure listings are public record and therefore can provide easy targets for companies looking for quick money by setting up repayment programs with homeowners, knowing they most likely won’t be able to meet the payments. Some of these companies are fraudulent and others simply take advantage of people unable to meet their house payments.
The BBB said some homeowners claim they have signed papers they did not understand, giving the investor ownership of their house when they believed it was only stopping foreclosure. Other companies buy houses for people with bad credit and retain ownership until the person has adequate credit to buy the house themselves. But often the client never buys the house because the payments are too high or his credit is never repaired. So ownership of the home is retained by the investor who nullifies the contract with the proposed buyer, putting the house back on the market for resale. Recently, the BBB issued an international alert warning the unwary of these tricksters,
The Bureau suggests that people facing foreclosure or attempting by buy o home with bad credit ask a trusted family member, their attorney or a financial professional to review paperwork before signing and agreeing to any deal with a company offering to help them out of a financial dilemma.
” I encourage people to really research and go through housing counseling agencies to rely make sure that they understand what all of the programs are truly offering.” said Arlene Patton, field office director for Housing Urban Development (HUD) in Spokane. “Predatory lending is something that is a concern to all of us.” HUD has funded Consumer Credit Counseling in the Tri-Cities to help individuals involved in foreclosure understand their options. If the Federal Housing Administration and HUD were involved in the purchase of a home that the owners are now losing, the center offers free foreclosure counseling services.
About Christa
Resume’
Christa Sasser
Distinctive Properties, Inc.
Obtained Real Estate License in August of 1979 and the Broker’s License in January of 1985.
• Broker / Owner of Distinctive Properties since 1994.
• Graduate of the Real Estate Institute (GRI)
• Certified Residential Specialist (CRS)
• Certified Real Estate Brokerage Manager (CRB)
• Accredited REO Agent (A*REO)
• Certified Sort Sale, Foreclosure, Recourse. (SFR)
Real Estate Activities:
Locally: Tri-City Association of Realtors.
• 1992 and 2001 Realtor of the Year.
• 1991 Elected to President of the Tri-City Association of Realtors.
• 1990 Served as Vice-President.
• 1989 Embraced the office of Secretary -Treasurer
• 1985 to 1994 Elected to the Board of Directors.
• 1989 to 1994 Earned a place on the Honor Society
• 2012 CRB (Certified Residential Broker) President for WA Chapter.
• Chaired: Member Services, Nominations, Awards, Long Range Planning, Budget and Finance, Communications, Education, Grievance. Co-Chaired: Most or all of the Committees. Served on: Activities, Budget & Finance, Long Range Planning, Member Services, Awards, Education, Nominating. Grievance, By-Laws. MLS Committee (Some more than one term, consecutively or at different times.)
Washington Association of Realtors
On the Board of Directors from 1989 to 2004 and 2010 -2012
• 2004 Recipient of the EDDY AWARD
• Chairperson & Vice Chair: MLS Forum. Education Forum. Served on:
• Operational Planning Committee, Nominations Committee, License Law Subcommittee, Strategic Planning, Communication, Education Forum, Education Steering, MLS Forum, Budget & Finance, Forms, Nominating, Several Core committees. Business Practices Core Committee. Business Practices Core Committee through 2009. Member of Legislative Steering Committee through 2012. Taxation. (Some more than one term, consecutively or at different times.)
• *2014- Received the Larry Miller Award for Excellence in Real Estate.
State of Washington:
1993 Appointed by the Governor to the Real Estate Commission.
• 1996-2003 Re-appointed to the Real Estate Commission for a 6-year term.
• 1997 Vice Chair of the Commission
• 1998 -2003 Chair of the Education Subcommittee
• 1999- 2003 Honorary Trustee for the Washington Center of Real Estate Research. WSU
• 2008-:Present School Administrator for Distinctive Real Estate School.
• 2008- Present Certified Real Estate Instructor
Community:
• VITA- Volunteer Income Tax Assistance for 10 years.
• Mid-Columbia Symphony Guild
• German Club.
• Pasco Police Auxiliary Volunteer 1969-1974
• President of the Pasco Police Auxiliary.
• Toastmasters
• Board Member, Canyon Lakes Homeowners Association
• Member of St. Joe's Parish Finance Committee
Real Estate Education:
• Graduate of the Real Estate Institute (GRI) 1984
• Certified Residential Specialist (CRS) 1994
• Certified Residential Broker (CRB) 2005
• Appraisal MAI Courses.
• Additional Courses successfully completed: Finance of Real Estate, Real Estate Law, Successful Practices, Real Estate Management Training, Investment Analysis, Advanced Investment Analysis, Relocation, Legal Aspect of New Construction, Hot@ Legal Issues, Negotiating, How to Deal with Builders, Real Estate Agents Rights & Responsibilities. GRI 400, Broker Management. Risk Reduction Institute Courses: Agent Guide to Agency, Avoiding Misrepresentation, Fair Housing in the 90's, Avoiding Anti-Trust Violations, Agency, Ethics, Does it Pencil? (Investment Analysis) Accredited REO classes. Sort Sale, Foreclosure classes. & more.
• Certified as an Instructor from the Department of Licensing in the following
fields:
o Use of computers and/or other technologies as applied to the practice of Real Estate.
o Real Estate Sales & Marketing. Real Estate Practices. Real Estate Law. Real Estate Fundamentals.
o Real Estate Closings Practices. Principles & Essentials. Legal Aspects. Ethics & Standards of Practices
o Current Trends & Issues. Cross Cultural Communication. Consumer Protection. Business Management.
o Brokerage Management and Advanced Management Practices.
