Real Estate Information Archive


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A Short sale success in Berthoud!

by Team Cook

I just wanted to take a minute and thank Team Cook
for all the hard work you have done for me and to let you
know that I really appreciate it!

You have saved me from foreclosure and I really appreciate
everything you guys did to make this happen. You just don't
know how relieved I am right now. I will definitely recommend you to anyone who is in the same situation as I was.

You have gone "The Extra Mile" to make this happen and
I am really impressed how you always remained positive and
professional in some pretty stressful situations. I could not
have done this without your team. This entire ordeal was
very stressful for me and you did a great job of helping me
through this tough period in my life. You gave me a solution
when I didnt believe there was one.

Again, thank you.


Options for homeowners in distress

by Team Cook

Homeowners whose mortgage balance exceeds the current property value know the futility of trying to get a refinance. Refinancing options for so-called "underwater" mortgages are limited because most lenders require some equity in the property - ideally about 20 percent.

However, borrowers should not give up hope. Options do exist, especially via the government's Making Home Affordable program.

One of those options is HARP. If you meet certain criteria, your underwater loan may be eligible for a refinance through the federal Home Affordable Refinance Program. The program allows qualified borrowers to refinance a loan that is from 105 percent to as high as 125 percent of a homes value.

However, not every underwater loan qualifies for HARP. First, you must not be on the road to foreclosure. Any delinquent payments in the past 12 months will automatically disqualify you from eligibility. In addition, either Fannie Mae or Freddie Mac must own the loan. You can find a loan lookup tool and other calculators at the government's Making Home Affordable Web site.

Your ability to take advantage of HARP will depend on payment history and other factors including credit score, the structure of the current home financing and specific lender guidelines.

"Can it help everyone? No" Says Jason Bonarrigo, senior mortgage banker with Wells Fargo Home Mortgage of Boston. However, Bonarrigo has closed several HARP loans and says it's worth investigating eligibility.

"If refinancing through HARP can shave $300 or $400 off a monthly mortgage payment, it can sometimes make a difference between keeping and loosing a home down the road," he says.

Your second option is HAMP. If you not only have an underwater mortgage but also have missed payments, you may qualify for the federal Home Affordable Modification Program that is available through mortgage lenders.

To qualify, you must demonstrate financial hardship that puts your mortgage in imminent danger of default. The mortgage must be owned by Fannie Mae, Freddie Mac or by others signed up with the U.S. Treasury to qualify for HAMP.

While the program provides government incentives (of up to $1,500) to lenders to process these modifications, the ultimate approval rests with the lender.

"HAMP is not a refinancing program - it's a change to the contract terms...but it can lower your payments for up to 60 months," says Mickael Goldstein, a bankruptcy attorney and partner at Goldstein and Clegg in Lynnfield, Mass.
Article written by Marcia Passos Duffy -




970-532-2695 OR 970-532-5900.

A Short sale is better than a foreclosure!

by Team Cook

Almost ANY option is better than a foreclosure!

Simply stated, do everything you can before foreclosure occurs and do it as quickly as humanly possible. Don't sit back and keep thinking, "What Can I Do?" Instead, consider a short sale before your options become more limited.

Team Cook at the Cottage Realty has the knowledge aqnd experience to save you from foreclosure and get the deal done.  We are Certified Distressed Property and Short Sale Experts!

All consultations are discreet and held in strict confidence. No information is shared. 

Take the next step and call Team Cook today - 970-532-2695.


Bad things happen to good people!

by Team Cook

Losing your home to foreclosure due to an inability to keep up with your monthly mortgage payments is one of life's most unpleasant experiences. It is also an event that keeps on affecting you long after your home is history by devastating your credit score. Regrettably, most people cannot be 100% sure that they will remain safe from foreclosure because they can't foresee the unexpected. Occurrences such as serious illness, a major accident, divorce or job loss can happen to anyone. So it's a good idea to understand the available alternatives should the worst occur.

Of all available options, foreclosure is the worst.
The inevitable result of a foreclosure is the lender taking your house. Not only will you lose your house, but the lender can get a judgment against you for the arrearages you owe plus his costs for the foreclosure action. If that isn't enough, your credit report will be in terminal condition for many years to come, worsening an already bad financial situation and making it very difficult to obtain any other kind of credit. There is no upside to foreclosure. It should be avoided at all costs.

Consider a short sale when foreclosure seems inevitable
A short sale is a popular, NO COST, option for homeowners mired down with financial problems. In this case, you would sell your home for less than what you owe your lender; the biggest problem you will face is getting your lender to agree to a short sale. In many situations, they will not. Experts advise pursuing this option the minute you realize that you are falling behind in your payments and most likely won't be able to catch up. The longer you wait and the greater the amount you are in arrears, the less likely it becomes that your lender will even be willing to discuss a short sale.

At its best, a short sale can be a win-win for both parties. For the seller, a short sale provides the opportunity to avoid foreclosure and the dreaded implications that a foreclosure brings, in addition to being able to return to home ownership sooner; alternately, the lender receives most of the value of the loan sooner, and avoids incurring additional legal or carrying costs while the foreclosure process plays out, which can sometimes even take years. And, frankly, short sales are great options for savvy buyers.

Almost any option is better than foreclosure
Simply stated, do everything you can before foreclosure occurs and do it as quickly as humanly possible. Don't sit back and keep thinking, "What can I do?" Instead, consider that short sale before your options become more limited.

The One Best Tip I Can Give You: Don't Do This Alone
Connect with a Certified Distressed Property Expert and work with someone who has the knowledge and experience to save you from foreclosure and get the deal done. All consultations are discreet and held in strict confidence, NO information is shared.

Team Cook has the knowledge & experience to save you from foreclosure and get the deal done. We are Certified Distressed Property & Short Sale Experts!

Please visit: or call 800-571-6616

A short sale success in Loveland!

by Team Cook

"Team Cook has been wonderful to work with. They helped us sell our home through a short sale process and took care of making the process as painless as possible. 

They were AMAZING! They went over and above any expectations - without them this would not been possible. I recommend them to everyone." 

D & W

Displaying blog entries 1-5 of 5





Contact Information

Team Cook Real Estate Services
The Cottage Realty Ltd.
908 Mountain Avenue
Berthoud CO 80513
Fax: 970-532-2699

"I have truly heard and seen first-hand that Cottage Realty is wonderful, exemplary, and a real asset to the economy of Northern Colorado. I will definitely keep Cottage Realty in mind as my first choice if and when I have real estate needs in the future. Again, thank you so much. I will also refer you to friends and family who need your services. Sincerely...Stacy"