Are you looking to rent a single family home or townhome?
Then contact me today. My services to you are absolutely FREE. The landlord or sometimes seller pays my fee so you don't have to. Let me do the work for you. There are homes right now in the Multiple Listing Service for rent. I have access to these homes. Let me find one for you. It's easy.....all I need to know is what you are looking for and I will email you rental properties. You let me know which ones you are interested in and then we'll go see a couple. Next we write a rental agreement and we are on track to get you into that new rental property.....email me today!
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. She, also, has experience with residential rentals. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
P.S. If you are listing your home as a short sale in DuPage, Will, Kane, or Kendall Counties in Illinois make sure you hire an agent who knows how to do short sales and has the experience to get the job done. Call me at 630-712-1921 to find out more about Short Sales in the Chicagoland Area.
Getting a short sale package together can be a chore, but if done correctly it can yield you a huge return. Every mortgage company has slightly different requirements but they typically all ask for some of the same things.
The best way to find out exactly what lenders are looking for in their "Short Sale Package" is to ask.
An authorization to release information is the first thing obtained. This allows the realtor and attorney to access the account. Once authorization is obtained, the loss mitigation department is contacted and the short sale requirements are asked for.
Typically, a package consists of the following:
- Authorization to release information
- An agreement of sale to purchase the property
- HUD 1 settlement statement estimate of closing costs
- Pay stubs
- Bank statements
- Budget sheet, including income and expenses
- Past two years tax returns
- Recent pay stubs
- Letter of financial hardship
Some mortgage companies will fax you exactly what their requirements are. Some will even include worksheets to fill in and sign. Either way, it is best to have the homeowner get these documents back as soon as possible because they may be requested later on.
Every mortgage company will have different requirements for a short sale so each package will be different. Asking the lender is the best way to find out what is needed.
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
P.S. If you are listing your home as a short sale in DuPage, Will, Kane, or Kendall Counties in Illinois make sure you hire an agent who knows how to do short sales and has the experience to get the job done. Call me at 630-712-1921 to find out more about Short Sales in the Chicagoland Area.
This is completely new. And I'm excited. But you've got to move on this fast! I just discovered that Chris McLaughlin and Nate Jurewicz created a complete "autopilot" real estate system that puts money in your pocket ... and you hardly have to do a thing.
Seems hard to believe. But they got PROOF. In fact, Nate loves to brag how he doesn't even have to leave his pad to make ... get this ... 5 to 6 figures PER MONTH! (I'll show you the proof in just a minute)
But there's a catch ... these two guys aren't willing to let ANYONE in on their system unless they first go to their site and read their fr*ee eBook first:
They only want to deal with serious people. I was not kidding when I said 5 to 6 figures per month ... for most of us, that's serious cash. So they're not going to deal with anyone who's stuck on stupid. Or got a wish-bone for a back bone. Because if you can't make a ton of cash with this system, you better check and make sure you got a pulse. It's that simple. But you've got to show that you're committed ... the first step in showing that you can take on a commitment is by being able to following a few simple directions.
The first one is to go to: http://www.shortsalesriches.com/cmd.php?af=901385 and pick up a their F*REE eBook. Fast. Because word has it, once they get the right number of investors who understand their system, they're closing the doors to new ones. I mean, if you could rake in that much dough per month, I'll bet you wouldn't want to deal with anyone who wasn't at least committed enough to download and read a no-cost eBook.
So what are you waiting for? Go! Click Below on the Book!
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
P.S. If you are listing your home as a short sale in DuPage, Will, Kane, or Kendall Counties in Illinois make sure you hire an agent who knows how to do short sales and has the experience to get the job done. Call me at 630-712-1921 to find out more about Short Sales in the Chicagoland Area.
A short sale is what I like to call a "less bad" alternative to foreclosure. It works like this: the homeowner sells the home for a market price that is less than - short of - the amount the homeowner owes on the mortgage. The owner then pays the lender - who, of course, must agree to the deal - and the lender forgives the difference between the sale price and the mortgage amount (so the homeowner doesn't have to come up with, say, $30,000 in cash).
Why would a lender agree to such a deal? Because the actual process of foreclosing on a home is very expensive for the lender - often costing upwards of $25,000 and a lot of time (time that the lender isn't getting paid interest and principal on the loan). So it can often be in the lender's best interest to simply cut its losses and sell short.
You can invest in short sales
A short sale can be a real win-win-win for you - the investor, the homeowner, and the lender. When you buy a house after the owner is already delinquent (meaning more than 90 days past due, and/or the lender has already started the foreclosure process) but before the lender actually forecloses on the home, it's called a pre-foreclosure, and you'll be part of a short sale. Here's how to do it:
1. Know your market. If you don't already live where you plan to invest, make sure you get to know your investment market well - what neighborhoods you should stay away from, where great hidden deals might be, where the hottest new development is, etc.
2. Develop an investment strategy. Pre-foreclosure investing is like any other type of real estate investing - develop a strategy for what you want to accomplish, the risks you are willing to take, and how long you plan to be investing and then stick to that strategy.
3. Develop your best practices. There are a lot of pre-foreclosure buying techniques out there. Decide which is best for you, given your investment strategy.
4. Be a bit skeptical. Just because a home is in pre-foreclosure doesn't mean it's automatically a good deal.
5. Ask for help. Pre-foreclosure investing takes a lot of work. Invest in the help of a trustworthy team. Leverage a real estate agent experienced in short sales to help you determine how to make an offer that's fair for you and the seller (the bank), based in part of what other similar pre-foreclosure or foreclosed homes in the same neighborhood have recently sold for.
6. Make friends with mortgage lenders. Often, you'll get the best deal if you can negotiate a good purchase price with the seller and get the lender to forgive a portion of the debt (the difference between the sales price and the loan balance, for example).
7. Move fast, but not too fast. You'll need to act quickly once you find a pre-foreclosure property that you want to buy - before other investors beat you to it. At the same time, you don't want to be too rushed or you may make a decision you'll regret later.
8. Be committed. Pre-foreclosure investing is not for the weekend investor. It takes discipline and commitment. Even with the help of foreclosure listing services, you'll still have to do a lot of legwork to contact the owner, arrange the deal, fix up the house, and re-sell it before you see your investment return.
9. Know the law. There's more legalese involved in a short sale than in a traditional home sale. Plus, foreclosure laws differ from state to state. Read up on your state's foreclosure laws and ask your real estate agent to recommend a good real estate attorney with experience helping people purchase homes in pre-foreclosure.
10. Remember price + 5% (at least). Pre-foreclosure homes tend to need repairs- sometimes minor, sometimes major. Always, always have the home inspected by a professional home inspector before you sign a sales agreement and add in the cost of the repairs the inspector recommends. If you only think about the purchase price when you're calculating potential return on your investment, you'll be sorely disappointed. Add at least 5% - or better yet, get a quote on repair costs from a professional contractor.
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
P.S. If you are listing your home as a short sale in DuPage, Will, Kane, or Kendall Counties in Illinois make sure you hire an agent who knows how to do short sales and has the experience to get the job done. Call me at 630-712-1921 to find out more about Short Sales in the Chicagoland Area.
Short Sale will in NO Way affect your Credit as much as a Foreclosure will!!
Don't let the bank force you into foreclosure, a defiency judgement, wage garnishments, asset liens, and bankruptcy.
My Service is totally FREE to You -- The Bank Will Pay Me!
I operate in Will, DuPage, Kane, and Kendall Counties
Your credit will recover in as little as 2 years. This is far better than the 7 to 10 years that most homeowners in your situation will face.
Below is the most common elements of the short sale process.
List the home Bank authorization forms signed Send bank authorization to the bank(s) Market the home Follow up with bank(s) Fill out financial form(s) Gather proof of financial information Send BPO, financial form and financial information to bank(s) Find a buyer Negotiate purchase price/terms with buyer Prepare net sheet for bank(s) Send purchase contract, listing agreement, net sheet to bank(s) Follow up with bank and gather other bank requested information Send bank requested information back to bank(s) Finalize short sale with the bank(s) Order payoff letter from bank(s) Close the property
There is help in these times of uncertainty, please contact me with any questions and/or assistance. If I do not know the answer I will get it for you. I will never mislead or misinform you. I am here to help.
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
A Reverse Mortgage is a loan specifically designed for homeowners older than 62 years old.
A homeowner borrows from the equity in their home. It can then be used for any purpose and does not need to be repaid until the homeowner sells the home, permanently moves out, or passes away.
Rather than paying into a mortgage, homeowners tap into their equity for retirement support.
The lending company makes regular payments to a homeowner during a specific period of time. The amount of payment is determined by the amount of equity the homeowner has in the home.
The final payment is calculated not to exceed the home's selling price.
Please contact me for more in depth information about reverse mortgages and real estate. There is help in these times of uncertainty, please contact me with any questions and/or assistance. If I do not know the answer I will get it for you. I will never mislead or misinform you. I am here to help.
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
Approximately 400,000 struggling homeowners could avoid foreclosure with a new FHA program, Hope for Homeowners. The program began October 1 of this year and ends September 30, 2011.
FHA will help homeowners with subprime loans refinance to an FHA insured 30 year fixed rate mortgage.
Lender must agree to write down the loan as 90% of the appraised value.
Eligible mortgages are those that were originated on or before January 1, 2008.
Borrowers must have a debt to income ratio higher than 31 percent.
What's the catch....... Homeowners must agree to share the future equity of the home with FHA when the home is sold or refinanced. After five years, the equity split is 50 percent.
There is help in these times of uncertainty, please contact me with any questions and/or assistance. If I do not know the answer I will get it for you. I will never mislead or misinform you. I am here to help.
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
Open House at Chase Bank Saturday, November 15 from 10am-Noon Only at Chase branch located at 3419 Orchard Road in Oswego
I will be hosting an open house at Chase bank to answer any questions you may have about the market on Saturday the 15th. Please stop on by to meet me and get any real estate related issues addressed. There will, also, be a mortgage consultant available to assist in any mortgage related questions that you may have.
Stop on by to find out:
Your home value
What a particular home sold for
Short sale assistance
Credit repair counseling
Sellers welcome
First time buyers encouraged
Do you qualify for a loan?
Union employee loans available
3% down programs
Inquire about rental homes
One on one consultations
All questions and concerns welcome
I look forward to seeing you there!!
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
Open House at Chase Bank Saturday, November 15 from 10am-Noon Only at Chase branch located at 3419 Orchard Road in Oswego
I will be hosting an open house at Chase bank to answer any questions you may have about the market on Saturday the 15th. Please stop on by to meet me and get any real estate related issues addressed. There will, also, be a mortgage consultant available to assist in any mortgage related questions that you may have.
Stop on by to find out:
Your home value
What a particular home sold for
Short sale assistance
Credit repair counseling
Sellers welcome
First time buyers encouraged
Do you qualify for a loan?
Union employee loans available
3% down programs
Inquire about rental homes
One on one consultations
All questions and concerns welcome
I look forward to seeing you there!!
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
Did you know that I can assist you in finding a rental home? It's true! Let me be your guide in finding your next rental property. Whether it's a condo, townhome, or single family residence I can help.
Also, did you know that the landord takes care of my fee. It's true! What have you got to lose?
Contact me today.
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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