foreclosure auction: What If The Buyer Can’t Close On Time On A Louisville Short Sale? - 04/25/11 10:56 PM
Possible consequences of a buyer missing the closing deadline on a short sale:
The foreclosing lender may:
(1) raise the purchase price, or
(2) deny an extension and cancel the entire agreement with no recourse for the buyer, or
(3) delay approval of an extension by weeks or months, or
(4) push the property to get sold and lost at the foreclosure auction, or
(5) approve an extension to allow the buyer to close with no change of price or terms.
The paradox is the foreclosing lender can drag out their approval for months, but when they give an approval they … (17 comments)

foreclosure auction: In a Pre Foreclosure The Oldham County KY Sheriff Can NOT Show Up With No Notice And Throw Your Family Out - 10/12/10 02:37 AM
Many families who are behind on payments live in fear that the Oldham County KY Sheriff will come with no notice and throw their family out of the house. They are also afraid of every knock on the door.
I help many families avoid foreclosure by negotiating a short sale with their lender. I speak with distressed sellers every day. I am acutely aware of these fears.
Homeowners Are Afraid They'll Come Home To A Locked Up Vacant House
Numerous times sellers have asked me or told me that they are afraid that they will come home from work and all … (2 comments)

foreclosure auction: Does the Short Sale Negotiation Stop the Foreclosure Process in Louisville, KY? - 09/28/10 08:54 AM
Does the Short Sale Negotiation Stop the Foreclosure Process? The short answer is “No, but there still are options to avoid foreclosure”.
Now for the detail:
Your Lender Does Not Want To Own Your Home
Your lender is probably 1,000 miles away. They would rather settle and get a check rather than get the keys to your house. In general, the lender reduces their losses by doing a short sale because they don’t have to incur the losses involved in a long foreclosure process.
However, even when a short sale is initiated, the lender still continues the foreclosure process. They run … (1 comments)

foreclosure auction: Top 44 Reasons Sellers Don’t Do a Pre Foreclosure Short Sale Even If They Need To - 09/24/10 12:37 AM
If you are a homeowner with an “underwater” mortgage or an “upside” down house, please know that millions of Americans are experiencing the same confusing and stressful dilemma.
Please be aware that under many circumstances there are solutions favorable to you. You have options and there are answers to each one of the concerns listed below.
It is extremely important that you consult with a Louisville short sale Realtor who specializes in pre foreclosure situations.
I have compiled this list of concerns as a result of hundreds of consultations and kitchen table conversations with sellers in need.
Homeowners Lose Their House … (6 comments)

foreclosure auction: Pre Foreclosure Myth: The Sheriff Can Show Up With No Notice And Throw My Family Out - 09/23/10 12:43 AM
Many families who are behind on payments live in fear that the Sheriff will come with no notice and throw their family out of the house. They are also afraid of every knock on the door.
I help many families avoid foreclosure by negotiating a short sale with their lender. I speak with distressed sellers every day. I am acutely aware of these fears.
Homeowners Are Afraid They'll Come Home To A Locked Up Vacant House
Numerous times sellers have asked me or told me that they are afraid that they will come home from work and all of their possessions … (5 comments)

foreclosure auction: Louisville Seller Loses House To Foreclosure Without Trying To Short Sell It First. Why? - 09/08/10 02:33 PM
“Frozen.”
“Paralyzed.”
“I was a deer in the headlights.”
“There isn’t sufficient information readily available.”
These were the sad statements the owner made. A woman called me a week AFTER her house was lost at foreclosure auction to ask me what her options are. I asked her why she didn’t call me prior to the auction. She hadn’t even sought out a Realtor prior to the auction.
She continued; “Spoke to five people got five different answers which contributed to my paralysis.”
She had spoken to:
Her divorce attorney The Louisville Jefferson County Clerk because their office sends out the notices … (2 comments)

foreclosure auction: Short Sales - Will a contingency offer be accepted? - 07/13/10 11:08 AM
Will the buyer's offer be accepted if it is contingent upon the sale of the buyer's existing home?
The short answer is: NO.
Here's the reasoning; The seller's primary motivating factors are speed and likliehood of closing. In today's unstable and declining market there's no way to tell when the buyer's house will sell or if it will sell at all.
A short sale takes months of diligent processing until the short sale lender approves the price and terms. Once the lender sends approval, they restrict the closing time to about 30 days.
If the buyer has yet to sell their house, … (2 comments)