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texas short sales: Fannie Mae Announces Deed For Lease Program - 11/06/09 01:25 PM
Fannie Mae just announced the Deed For Lease program that will allow qualified homeowners to take a Deed In Lieu of foreclosure and lease back their home for up to one year.  Homeowners must qualify in terms of income and any additional liens must be released. 
The Deed For Lease program offers homeowners another option to avoid foreclosure when loan modification or forbearance won't work.  But, what will the homeowner do if there are additional liens on their property and the lien holders will not agree to release the liens? There's always foreclosure or bankruptcy, but those options may carry heavy credit burdens for the … (3 comments)

texas short sales: 40th High School Reunion - A Nostalgic Lookback - 10/16/09 08:02 AM
Forty years ago plus a few months, I graduated from Forest Park High School in Beaumont, Texas.  I couldn't wait to get out of town to Dallas, where I would attend SMU.
Some of you may remember 1969.  Our country was in the middle of the Viet Nam war.  We had lost one former student to the fighting. He was memorialized. There were never any war protests in our town that I remember.
Illegal drug use, as far as I knew, was not prevalent.  Beer and whiskey were the entertainment beverages of choice.  A lot of us crossed the state line … (0 comments)

texas short sales: Why I Help Homeowners in Distress - 10/14/09 07:53 AM
Why do I help distressed homeowners facing foreclosure?  Because I've been a distressed homeowner myself once and I know a lot about your difficult situation. 
Here's what happened to me.  I was offered a great job in a booming oilfield town in the early 1980's.  So, we moved, bought a home, and settled in to our new community.  Business was better than good for a while, but the owners decide to sell the company and I was out of a job.  Just like that I had a big mortgage at a high interest rate, a non-working wife, a young daughter, car … (9 comments)

texas short sales: Why My Active Rain Outside Blog Is Important To Me - 10/13/09 12:01 PM
My GM is requesting all of our agents to take a brief personality profile.  So, what does this fact have to do with why my Active Rain outside blog is so important to me?  The answer to that question is revealed in the results of my test.
My score showed me to be an Amiable Analytic.  Analytic is the dominant style with amiable being secondary. According to my GM, I'm a number cruncher who's good at paperwork; plus, my amiable overlay means I like to keep everyone happy.  I think these traits are important for my short sale and foreclosure business … (37 comments)

texas short sales: Home Affordable Foreclosure Alternatives (HAFA) To Be Announced Soon - 10/13/09 07:27 AM
Home Affordable Foreclosure Alternatives (HAFA) may be announced by the U.S. Treasury sometime soon. "HAFA will offer financial incentives to both servicers and borrowers, and associated secondary investors, in order to facilitate a short sale or deed in lieu of the property", according to an article published in HousingWire.com.
In addition, a Treasury official reported that borrowers will need to be eligible for the Home Affordable Modification Program (HAMP) in order to participate in the HAFA program.
A program to streamline the short sale process and the extension of the $8000 first time buyer tax credit for another year or more … (0 comments)

texas short sales: Why Distressed Homeowner's Facing Foreclosure Need Help - 10/12/09 10:27 AM
So why do distressed homeowner's facing foreclosure need help?  Of course, the obvious answer is to avoid the financial wrecking ball of foreclosure.
But what are the unforeseen consequences of foreclosure? Divorce comes to mind.  Depression?  Self-medicating with alcohol and drugs is a possibility.  Confused and insecure children?
And all of those problems are out of our control.   
So what can we do when we approach distressed homeowners?  For starters, don't be judgemental.  Helping out is not about the "why", it's about "what" we're going to do for the homeowner to avoid foreclosure.
Next, reassure them...outline alternatives like refinancing or loan modification.  Discuss … (0 comments)

texas short sales: Big Changes in My Active Rain Blog - 10/11/09 05:04 PM
You may already know that I'm relatively new to the real estate business and Active Rain.  It's become very clear to me that a specialization will help me to differentiate myself from competitors.  So, during my first months in the business I've become a Certified Distressed Property Expert (CDPE) in order to differentiate myself and achieve the level of success I need to provide for my family.
You can see my new foreclosure and short sale microsite at Jimmy Stewart CDPE.  As part of this change, I'm changing my AR blog to reflect my new business interests.
The purpose of my … (9 comments)

 

Jimmy Stewart

San Antonio, TX

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Cell Phone: (210) 601-6805

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The primary focus of my blog, "Avoid Texas Foreclosure" is to inform distressed homeowners of their options when: (1) their mortgage is currently in default; or, (2) they expect their mortgage to go into default. In addition, I plan to offer usable information to my fellow agents as they represent buyers and sellers in distressed property transactions.


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