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Chances are, you or someone you know in Hilton Head/Bluffton area is facing the possibility of foreclosure. But you need to understand that you are not alone.   Today, nearly 1 out of every 6 homeowners in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it's important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.   Through my experience handling distressed properties at Gateway Realty, I've found that homeowners today have more questions than answers about their circumstances. I have created this site to help you understand the possible solutions to foreclosure, as well as provide a detailed explanation of short sales, which may be the best course of action for some homeowners.

What Others Say "Last fall I was facing serious financial problems. I met with an attorney for legal advice and explored the possibility of even declaring bankruptcy. I was upside down on my mortgage and spent all my savings in attempt to pay two mortgages on the town house I owned. My earnings dropped by 80% and my investment in the stock market had been materially eroded. The net effect was that I suddenly was insolvent. After careful review, I decided to stop paying the mortgage payments on my second home in Bluffton. I had decided to let my house go into foreclosure..."  Read More

Why Bob Raehn ("Ran")? Bob has been successfully selling real estate in the Lowcountry for 28 years. He knows the challenges facing buyers and sellers, particularly in today's difficult marketplace. Bob recently earned the designation of Certified Distressed Property Expert (CDPE), making him uniquely qualified to explore all options available to avoid foreclosure. Click HERE for more about Bob. What is a Short Sale? A short sale is when a lender accepts a discount on a mortgage to avoid a possible foreclosure auction or bankruptcy. Instead of buying from a seller, you are purchasing the property directly from the lender for a discount. For example: A homeowner, who is facing foreclosure, has an existing first mortgage of $300,000. You write an offer to the lender for $220,000, which is accepted as full payment for the loan. This is a short sale. Why are they willing to take such a discount? Several reasons. First of all, banks do not like excess inventory and bad loans on their books; therefore, if they see an opportunity where they can sell the property without a huge loss, they will do it. Secondly, lenders know they could lose a lot more money if the property goes to auction. There are so many fees involved if the property goes to auction, that they would be better off taking the discount beforehand and be finished with the headache of it all. What is a Foreclosure? Foreclosure is to shut out, to bar, or to extinguish a mortgagor's right of redeeming a mortgaged estate. It is a termination of all rights of the homeowner covered by a mortgage. Foreclosure is a process in which the estate becomes the absolute property of the lending institution.