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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - Common Elements of the Short Sale Process - 01/29/09 06:28 AM
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 homeBank authorization forms signedSend bank authorization to the … (1 comments)
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - Fannie Mae/Freddie Mac - 09/11/08 11:04 AM
Fannie, Freddie Takeover Keeps Mortgages Flowing The federal government's sweeping takeover of mortgage market giants Fannie Mae and Freddie Mac is expected to have positive short-term benefits to the real estate market and opens the door for the industry to shape the restructuring of the companies. The NATIONAL ASSOCIATION OF REALTORS® commended the Treasury Department's decision, which it said will bring much-needed stability and continued liquidity to the nation's mortgage market."This demonstrates that the government is clearly committed to keeping the flow of capital uninterrupted, which is crucial to the housing sector and the economy," NAR President Richard F. Gaylord said … (0 comments)
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plainfield il real estate: Do I Qualify for a Short Sale on my Naperville or Plainfield Home? - 08/14/08 09:12 PM
Do I qualify for a Short Sale? Do You....
Owe more on your Naperville or Plainfield area property than what you could sell it for, especially after real estate commission, closing costs, late payments, interest, etc? Have difficulty covering your expenses each month? Not have money in the bank to cover the difference of what you could sell your house for and what you owe the bank? Are You Having Trouble Making The Payments? Are You....
Feeling the stress mounting with each missed payment and phone call from your bank? Have difficulty covering your expenses each month? Getting confused as … (0 comments)
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plainfield il real estate: Plainfield Illinois, Naperville, IL Real Estate, - Short Sales - What's Needed? - 07/21/08 03:30 PM
When you go through the short sale process your lender will require certain documentation. Remember, the lender does not want to take the home back through foreclosure. That is a last resort for both the homeowner and the lender. The lender would rather accept a short sale as long as the borrower can show an inability to pay the mortgage.
Each lender has their list of required documentation. Therefore, the first step is to give your Realtor signed authorization to speak with the lender about your account.
Your Realtor will then request a "short sale package" from the lender. Most … (1 comments)
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plainfield il real estate: Naperville IL, Plainfield Illinois Real Estate - Should you buy a home in today's market? - 06/26/08 10:01 AM
Should You Buy a Home in Today's Market? Before we start, let us give you one reason to not buy a new home right now.
How long do you intend to live there?
A rule of thumb is that it rarely makes sense to buy if you expect to move within two years. That's because when you do sell, there are costs associated with selling. We're not just talking about sales commissions to the buying and selling real estate brokers. Most owners rely on home appreciation to pay those costs and to provide the down payment and closing costs when they buy … (1 comments)
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plainfield il real estate: How To Stop ID Theft - Naperville, Plainfield IL. Real Estate - 06/02/08 10:23 AM
Consumers are proving they can turn back time on identity theft by following a prescribed program of diligent document protection and criminal deterrence.A well-measured program of preventive steps can protect your identity from theft.ID theft-related fraud fell by 12 percent in 2007 and 300,000 fewer adults were victims, according to the latest from Javelin Strategy & Research, the longest-running ID theft study in the nation.At the top of the list of reasons for the decline is "greater consumer vigilance and awareness," according to the report.When someone steals your identity, you don't wander around aimlessly like some John or Jane Doe. Someone … (1 comments)
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plainfield il real estate: Senate Takes On Mortgage Walk-Away - Plainfield, Naperville IL. Real Estate - 06/02/08 10:21 AM
Recently came across this information thought some of you might find it interesting.
The Senate Banking Committee has just passed the Federal Housing Finance Regulatory Reform Act of 2008 by an overwhelming and bipartisan vote of 19-2.
Buried in the proposed legislation is something new and revolutionary, an effort to stop mortgage walk-aways.
Walk-aways arise when a borrower can no longer make monthly mortgage payments or sell the property. Rather than wait for foreclosure, the borrower simply sends the keys back to the lender. This is not a minor matter. Fitch Ratings reports that "the apparent willingness of borrowers to 'walk … (2 comments)
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - VA Jumbo Loan - 05/27/08 11:03 PM
For years, the Veterans Administration has allowed "Jumbo" VA loans; it's just that hardly anyone knew about them. The current VA loan limit with zero down, is $417,000, matching the conforming loan limits set by Fannie Mae and Freddie Mac. But the VA does make allowances for VA loans above that amount ... way above. Say around $700,000.
Current Jumbo fixed rates are anywhere from 1.00 percent to 1.50 percent higher than conforming rates. That's a lot, and has many Jumbo buyers in a quandary. A 30 year fixed conforming rate might be 6.00 percent while a similar Jumbo rate could … (0 comments)
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - Is the end near? April foreclosures and pre-foreclosures drop - 05/13/08 11:38 AM
The nation's foreclosure hemorrhage slowed a bit last month, according to Foreclosures.com. Lenders repossessed 74,570 homes following foreclosure in April, down more than 5 percent from March. April pre-foreclosures dropped 7.52 percent from March too, according to California-based Foreclosures.com foreclosure information specialists."The sky isn't falling, and the bottom of the housing market is in sight," says Alexis McGee, president of Foreclosures.com.Foreclosures.com says its analysis is based on the number of formal notices filed against a property during the foreclosure process. That can include notice of default, notice of foreclosure auction, and trustee's deeds/REOs (real estate owned by lender through foreclosure).In the … (0 comments)
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - Get your home ready to sell - 05/09/08 10:15 AM
Get Your Home Ready To Sell
In preparing your house to sell, ask yourself over and over if your house looks like someone else's dream house. Houses in move-in condition tend to be inviting to buyers; houses that are like new typically sell the fastest and procure the best price.With that in mind, here are a few things to consider when getting ready to sell:ExteriorRemember the 60-second rule: that's all the time you have to create a good first impression! Mow the lawn, rake leaves, trim trees and shrubs that keep light out of the house and remove dead plants. Pick … (0 comments)
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - How much house can you afford? - 05/09/08 10:09 AM
Deciding how much house you can afford
Before you start house hunting, you need to determine how much house you can afford, which will entail getting either prequalified or preapproved for a home loan. A real estate agent can help you find a mortgage broker to begin the process. While getting preapproved is a more in-depth process, a preapproval letter lets both real estate agents and sellers know that you're a serious shopper who means business.
What do I do to get prequalified?
A prequalification can be done online or over the phone and does not require your submitting financial documents. … (1 comments)
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - Negotiation Tip - 05/06/08 08:17 PM
Negotiation is back in style, and is likely to remain a necessary part of buying or selling a home in today's residential housing market.
Needless to say, you need to work with the best real estate professionals you can find in your area. In most cases, it takes a team effort to put a home-sale transaction together and see it through to fruition.
HOUSE HUNTING TIP: Successful negotiations usually require give and take by both parties. It has been said that the sign of a successful negotiation is one where both parties walk away feeling they have won. It has also been … (0 comments)
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - Financing Solutions - 05/06/08 08:56 AM
Overcoming the misconceptions about the "credit crisis"
You've watched the news and read about it in the papers. You know, the "credit crisis" and how buyers need 20 percent down in order to buy a home? And even if you found a buyer with 20 percent down, lenders aren't making loans anyway. So, why bother, right? Wrong!
We're right smack in the middle of what just might be the biggest disservice ever perpetrated on potential home buyers. It seems the press just can't get enough of all the gloom and doom in the housing industry. The fact is that mortgage money is as available … (1 comments)
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - Mold Must Go (6 Things to Know) - 05/02/08 08:27 AM
Mold is a potential health danger for any family and also a legal liability for sellers. Because of the fear over mold contamination there are so many lawsuits flying around today that sales of resale homes are in jeopardy -- and insurance companies are scrambling to avoid liability, with some U.S. insurers refusing to write any new homeowner policies. So what do you need to know about mold .....
1. Molds are everywhere and have been around forever. Many people have the impression that this is a new problem -- think, "Attack of the killer molds!" -- and that we now must arm … (0 comments)
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - Aurora Townhome - 3 Bedroom, 3 Bathroom in Oswego School District 308 - 04/30/08 08:55 AM
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - Why selling now makes sense - 04/29/08 10:01 AM
Why selling now makes sense
Homeowners reluctant to sell because prices have fallen should do the math and realize that the market downturn could work in their favor."People are finding houses at prices they thought they'd never see again," I would like to point out that to potential sellers that if the house a buyer covets used to be $500,000 but its price has fallen 20 percent to $400,000, it is a deal, even if the buyer's own home also has lost 20 percent of its value.In general, the toughest will be for people who bought within the last three years, at … (0 comments)
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - If You Think You're Saving Money Renting ... Think Again - 04/29/08 09:57 AM
If You Think You're Saving Money Renting ... Think Again
A new report by the National Association of Realtors shows the real reason why home sales don't crash for long -- rents. When purchase demands slow down, rentals speed up. Rents provide the floor that stops housing prices from major declines.
Home prices going down has been the big news lately, but in the shadows is a statistic that may surprise you. The first quarter of 2008 makes the 24th consecutive quarter that rental prices have escalated nationwide.
According to Reis Inc., a New-York based research firm, the soft home market and … (0 comments)
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - Reasons to buy a home - 04/28/08 07:24 AM
Pride of Ownership
Pride of ownership is the number one reason why people yearn to own their home. It means you can paint the walls any color you desire, turn up the volume on your CD player, attach permanent fixtures and decorate your home according to your own taste. Home ownership gives you and your family a sense of stability and security. It's making an investment in your future. Appreciation
Although real estate moves in cycles, sometimes up, sometimes down, over the years, real estate has consistently appreciated. The Office of Federal Housing Enterprise Oversight tracks the movements of single family home values … (0 comments)
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - Home Staging Suggestions - 04/26/08 08:44 AM
Most Popular Home-Staging Suggestions In a slow market, it's particularly important to get a house ready to sell quickly. Here are some of my most frequently made suggestions:
Fix any visible problems that might be a red flag for potential buyers, including repainting walls. Cover damaged kitchen or bathroom floors with inexpensive peel-and-stick vinyl floor tiles - if a more expensive change seems out of the question. Repaint public rooms that will garner a lot of a buyer's attention, including the kitchen, dining room, and living room. Clean up the exterior of the house, add potted plants, repair damaged walkways, and put a … (0 comments)
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plainfield il real estate: Plainfield IL, Naperville Illinois Real Estate - Short sale advantages - 04/07/08 01:16 PM
Short Sale Advantages:1. Short sales appear on your credit report as "pre-foreclosure in redemption", not as "debt discharged due to foreclosure"2. Less impact on your credit score
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 http://www.cherylbowers.com/ for your real estate needs. Please give me a call if … (0 comments)
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Cheryl Bowers, Plainfield, Naperville, IL. Real Estate
Plainfield,
IL
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Keller Williams Realty
Address: 608 S. Washington Street, Suite 100, Naperville, IL, 60540
Cell Phone: (630) 712-1921
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