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experienced short sale agent bend oregon: Enjoy your new house AHMSI! - 05/29/10 12:40 PM
Today I just want to vent. One of my short sale listings is going back to the bank, even though we had a full price, cash offer. The lender, American Home Mortgage Servicing Inc (AHMSI) approved the sale but wanted to retain their right to pursue a deficiency down the road. The sellers would not agree to the sale unless AHMSI waived their deficiency rights. In the state of Oregon, if the first lien holder files a notice of default and election to sell and chooses to pursue a non-judicial foreclosure, they have no right to a deficiency claim after the … (3 comments)

experienced short sale agent bend oregon: Are you eligible for a HAFA short sale? - 05/04/10 05:44 PM
On April 5, 2010 the Home Affordable Foreclosure Alternatives (HAFA) program went into effect. HAFA was designed to help owners who are unable to retain their home under the Home Affordable Modification Program (HAMP). HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure. Servicers participating in HAMP are also required to comply with HAFA. HAFA provides the loan servicer, junior lien holder, and sellers incentives for these transactions and is designed to simplify and streamline short sales and deeds-in-lieu of foreclosure.
Who is eligible for HAFA?The borrower must meet the basic … (5 comments)

experienced short sale agent bend oregon: Short Sale Pitfalls - 04/28/10 05:18 PM
Having been on the buying and selling side of numerous short sales, I've encountered many things that can derail a short sale transaction. While many of these will be beyond your control, it's good to be aware of them before you list your home as a short sale or pursue a short sale as a buyer. 
1.  Buyer offers too little: Every buyer wants a deal. When you find a home you'd like to make an offer on, make sure your Realtor runs a CMA report (comparative market analysis) so that you'll know the current market value of the home. If … (6 comments)

experienced short sale agent bend oregon: Cheri Smith Earns NAR Short Sales and Foreclosure Certification - 03/24/10 04:59 PM
Bend, Oregon 3/23/2010 - Cheri Smith with Total Property Resources has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows. 
According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures.  For many real estate professionals, short sales and foreclosures are the new "traditional" transaction.  REALTORS® who have earned the SFR certification know how to help sellers maneuver the … (3 comments)

 
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Cheri Smith

Bend, OR

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Total Property Resources

Office Phone: (541) 330-0588 x 106

Cell Phone: (541) 788-8997

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