Solving Your Mortgage Crisis Just Got Easier - 02/15/11 06:48 PM
5 Steps for a Successful Short Sale:
Lenders and the federal government, prompted by the sheer volume of loan modification and short sale requests, have overhauled their systems and programs, making the foreclosure avoidance process much easier than in the past.
If you are considering short selling your home to avoid the financial and emotional fallout of foreclosure, you should be aware of the five steps you should take to increase your chances of a successful transaction.
 First, do you qualify?
You must:
•      Have a verifiable hardship, like unemployment, medical bills, or relocation
•      Must have a monthly income shortfall … (0 comments)

Lenders are starting to loosen up! - 02/12/11 03:10 PM
Good news for some buyers! Wells Fargo, the largest originator of FHA mortgages has loosened up a bit & recently revised credit & down payment requirements. Wells will now lend to applicants with FICO scores as low as 600 and 3.5% down payments ( can be gift funds).
Previously, if your score came in even slightly lower, they wouldn't even look at your application. How big a news is this for buyers AND sellers who need qualified buyers in the market? An estimated 1/3 of Americans now have FICO scores below 620, according to one consumer group's estimate. 
What about borrowers … (2 comments)

 
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Rich Sossa,CRS,GRI,ABR,SFR, CDPE

Huntersville, NC

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Advantage Realty Group

Address: 18135 W Catawba Ave, Cornelius, NC, 28031

Office Phone: (704) 902-9057

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