Century 21 agent targets foreclosures

     While many real estate agents shy away from handling foreclosed homes on a full-time basis because of the difficult process and narrow time frame in selling the home, Century 21 Consolidated agent Randy Bridges has made it his forte.
      As the number of foreclosed homes continues to grow, with more than 400 being filed each month, so does the need to teach homeowners about the intricate steps necessary to keep or sell their homes, Bridges said.
      "I like to think of myself as an educator," he said. "I find the simplest ways possible for those facing bankruptcy and foreclosure to handle their situations, whether it be selling their homes or obtaining another loan to pay it off."
      Bridges said the increase in Las Vegas Valley foreclosures stems from the growth of the area. As more people move to the valley, the number of divorces, job losses and medical bills also increases, sometimes triggering financial problems.
      Bridges helps people understand the effects of filing bankruptcy on foreclosures.
      "About 75 to 80 percent of the people I encounter do not understand foreclosure, the time process, and how to fix their credit," Bridges said. "Without knowledge and without acting on it, the end result could be absolutely financially damaging to them."
      Homeowners often overlook the time frame involved, which generally is a three-month process before the house is liquidated in a trustee's sale, he said, pointing out that there are two ways to get out of foreclosure: During the reinstatement period, up to 35 days from when the default is filed, the homeowner has the opportunity to make up their payments, late charges, and attorney's fees. During the redemption period, which begins on the 36th day, the homeowner must pay the entire loan off before the trustee's sale.
      Bridges said that aside from trying to refinance, homeowners should contact a Realtor to determine the salability of their home.
      "As a Realtor, I am really under the gun when working with these types of sellers," he said. "With foreclosures, there is a huge urgency that many homeowners are not aware of. I am here to help them sell their homes if there is no possible way to keep them."
      The full-service real estate company has offices at 2820 E. Flamingo Road, Suite D.