massachusetts short sales: How will a short sale effect my credit score? - 02/23/12 06:14 AM
Reprinted from Massachusetts Short Sales
A common question that is asked of me, is how does a short sale effect my credit score?. Lets make no bones about it, a short sale will negatively effect your credit score. Plain and simple. No one can predict exactly how much a short sale will effect your credit score. There are many variables involved. While the impact may be less with a short sale it will mostly likely be as much as a foreclosure and it is irresponsible for any one to promise it will be less.
How Does a Short Sale Effect My … (2 comments)
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massachusetts short sales: free eBook- "Should I Short Sale My Home" - 11/14/11 04:45 PM
Order your free eBook, "Should I Short Sale My Home". 35 pages of your option to foreclosure and the benefits of a short sale. Don't let the bank take your home it can impact you for a long time to come.
Find out more here....
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massachusetts short sales: The effects of a Short Sale on Credit Scores - 11/04/11 05:17 PM
The following blog post is being reprinted from Short Sale- How Will it Effect My Credit. As a Massachusetts Realtor who is heavily involved in short sales, many sellers want to know what effect a short sale will have on their credit. The effects of a Short Sale on Credit Scores Unfortunately a short sale will effect your credit scores. Make no mistake, the “ding” to your credit score can be very minimal (50 points) to much higher (150 points or more). This is also the case in a deed-in lieu of foreclosure. While a short sale can have less … (8 comments)
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massachusetts short sales: My Credit Score- How will a shor sale effect it? - 09/27/11 04:54 PM
There is a lot of articles written out there saying a short sale will not effect your credit score as much as a foreclosure. Unfortunately moving forward with a short sale can impact your credit score very little to as much as a foreclosure. There are many variables that will effect the credit score during a short sale. Things to consider is:
How many late payments have you had? How is the short sale reported to the credit agencies? What other financial troubles are you having? A short sale is one of the last lines of defense before foreclosure. Make sure … (1 comments)
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massachusetts short sales: Massachusetts Short Sales- Chasing the Loan Modification - 03/06/11 01:37 PM
As a Massachusetts Realtor who has assisted many home owners with short sales over the past few years, I would like to impart a little wisdom to homeowners that are facing foreclosure.
The first piece of advice is not to sit back, get overwhelmed and do nothing. You have options to foreclosure. You generally have 5 options to avoid foreclosure and almost in all circumstance you are better off exercising one of these options rather than letting the bank foreclose. For most underwater homeowners, a loan modification or a short sale are the two most viable with a short sale usually … (5 comments)
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massachusetts short sales: Strategic Short Sales - 01/24/11 01:14 PM
With almost 23% of the homes in a negative equity position nationwide, it leaves many homeowners that are not in a financial hardship wondering why they are paying on a home that is worth significantly less money than what is owed on it. Some homeowners are deciding to walk away from their homes. When a homeowner makes a decision to stop paying their mortgage without a financial hardship and let the bank foreclose or do a strategic short sale, this is called a strategic default.
Traditionally in the past, most banks would not consider a short sale with out a financial … (0 comments)
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massachusetts short sales: Townhouse for Sale- 108 Perkins Court, Haverhill MA 01832 - 01/13/11 09:25 AM
Haverhill MA Condominium for Sale- $190,000
2 Bed, 1 Full bath, 2 Half bath, 1700+ sq feet
Spacious and tasteful living in West Meadow. Extremely large living room with large deck, with equally large family room in the lower level... Family room has a slider you can walk out from. Great kitchen space with large eating area. Tons of light in the kitchen/dining area. Both bedrooms are very large with cathedral ceilings. Loft overlooks master bedroom but could be a third, it already has closets!! Storage area on the thrid floor as well as in the lower level which includes … (4 comments)
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massachusetts short sales: Andover Short Sale Closed!! - 01/06/11 01:08 PM
421 South Mains Street- Closed $295,000
4 Bedrooms 2 Bath 1857 sq feet .37 Acres What does it take to close a short sale? Short sales are not the easiest of real estate transactions. If you are considering a short sale, first and foremost you need to work with a real estate agent that knows what they are doing.
You want an agent that has been doing short sales for a number of years with them successfully closing at least 5-10 short sales a year. A successful short sale agent should be working with an attorney on the negotions of the … (2 comments)
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massachusetts short sales: Price Reduction- 9 Maple St, Unit 9, Merrimac, MA 01860 - 01/03/11 01:10 PM
9 Maple St, Unit 9, Merrimac, MA 01860 (MLS # 71114727) (all data current as of 1/3/2011)
Taste, style and charm abound in this not your "cookie cutter condo". Approxiamately 14,000 square feet of exclusive use yard!! with garage/storage shed Rare opportunity to have your own private yard with a condo!! Tons of living space as well as 3 bedrooms. Completely renovated around 2000. Deck off master bedroom as well as off the kitchen. Kitchen is spacious, light and bright, Minutes to down town Merrimac as well as route 495. No monthly condo fee!! Property is subject to short sale approval. … (1 comments)
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massachusetts short sales: Short Sale Closed!! Methuen MA - 09/03/10 08:47 AM
Sold $460,000 Closed August 30th.
Seller walks from a large deficiency judgment with Litton Loan. From Listed to Sold less than 4 months.
One question I get from many home buyers as well as real estate agents is "how much is owed on the home?"
When it comes to doing a short sale and receiving a short sale approval the size of the deficiency is generally not important to the bank. What the bank looks at in a short sale deficiency is what is fair market value today and what is the price of the offer sitting on the table.
If … (0 comments)
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massachusetts short sales: Another Dracut Short Sale Closed - 08/15/10 10:51 AM
Dracut short sale, marketed, sold and closed in 90 days. 2 liens from HSBC and one non related real estate lien. Short sale approval went quickly with HSBC.
Sold $225,000
What did this client have to say?
"Thank you so much for helping us sell our home during such trying economic times. Your expertise in short sales and knowledge of the real estate market was instrumental in getting three offers on our home the first day it hit the market! The offer accepted was more than the asking price! You did an outstanding job in going the extra mile when any … (8 comments)
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massachusetts short sales: Great Haverhill Home for Sale - 08/15/10 10:06 AM
3 Bedroom- 2.5 Bath- 1912 square feet
Nearly new constuction on a side street. Great open floor plan througout the downstairs. Kitchen opens to large family room with fireplace also living room and dining room on first floor. Slider from kitchen opens to deck with nice yard. Laundry in bathroom off kitchen.
Walk up attic for future expansion or tons of storage as well as walkout basement with expansion possibilities. Close to 495. Large master with walk in closet and master bath. Check out this house now!
Only $285,000
Property is a short sale and subject to lien holder … (2 comments)
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massachusetts short sales: Taste Style and Charm abound... 14,000 sq foor private yard with this condo!! - 08/04/10 05:17 PM
3 Bedroom, 1 Bath, 1164 square feet
Taste, style and charm abound in this not your "cookie cutter condo". Approxiamately 14,000 square feet of exclusive use yard!! with garage/storage shed Rare opportunity to have your own private yard with a condo!! Tons of living space as well as 3 bedrooms. Completely renovated around 2000. Deck off master bedroom as well as off the kitchen. Kitchen is spacious, light and bright, Minutes to down town Merrimac as well as route 495. No monthly condo fee!!
For Sale $185,000 For more info.....
This property is a short sale and subject … (7 comments)
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massachusetts short sales: Tewksbury Short Sale Closed Successfully - 07/13/10 02:01 PM
My short sale team closed on another short sale. Two loans from Wells Fargo. Seller walks away with no deficiency judgement.
What does it take to do a successful short sale? A willing, cooperative and patient home owner and a short sale team that knows how to market and negotiate a short sale.
If you may be in danger of foreclosure call Kevin Vitali at 978-360-0422 and find out your five options to foreclosure. The key point to remember is to avoid foreclosure if at all possible. There are much better alternatives to foreclosure.
Search all of the Massachusetts … (7 comments)
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massachusetts short sales: Lowell MA Loft Successfully Closed- Short Sale - 06/28/10 06:48 PM
Another Short Sale Closed in Lowell MA
Sold $230,000. Seller successfully walks away from the short sale of this downtown Lowell Loft. A first and second loan was negotiated with Bank of America.
Short Sales are a complex transaction and you need a real estate agent with experience. I partner with The Loan Workout Group a division of Carter Law, to successfully complete over 95% of the short sales I list. If you are facing a foreclosure and would like to know all of your options to avoid a foreclosure give me a call today at 978-360-0422.
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massachusetts short sales: Closed- Amesbury MA Short Sale- Whitehall Lakes Condominium - 06/10/10 02:41 PM
Another short sale closed this week by my short sale team. Property closed at $67,500. Negotiated with IndyMac for a short payoff.... no defeciency judgement to the seller.
Marketing went quickly and an offer went in immediately. We had three weeks to stop an auction on this condominium. The purchase and negotiations went smoothly right up until closing.
Unfortunatley there were title issues that showed up at the last minute. Back and forth with the old Title Insurance compay and the new Title Insurance company. It took an extension with IndyMac and an extra three weeks..... finally we closed.
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massachusetts short sales: Massachusetts Foreclosure Process - 06/07/10 06:57 PM
Massachusetts Foreclosure Process
There are two ways a lender can forelcose on your property. One is entry and possession but is very rarely used in Massachusetts so I will not cover this type of foreclosure. The second is the Non-Judicial process, which is what we typically see in Massachusetts.
The Non- Judicial foreclosure process takes advantage of the power of sale clause in your mortgage. When you sign your mortgage at the closing table there is language in the mortgage, stating that you "pre-authorize" the bank to sell you home to pay off the balance of your note if you are … (0 comments)
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massachusetts short sales: Wakefield Short Sale Closed Today!! - 06/03/10 07:09 PM
Successfully closed on a short sale in Wakefield Massachusetts today. This home was a relatively easy one. US Bank was the only lien holder and we received short sale approval in 15 days from submitting the package. No deficiency judgements!!
From the lender standpoint this was perfect, no issues no additional liens. many times we have to deal with multiple liens, mortgage insurance companies, tax liens and so on.....
Blazing fast... kudos to US Bank for a fast turnaround on this short sale.
If you are a homeowner in Middlesex County or Essex County Massachusetts and your are facing … (5 comments)
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massachusetts short sales: Buying a Short Sale- What you must know..... - 05/27/10 11:55 AM
Buying a short sale is different than buying a regular home for sale on the market. There is a complex negotiating component with the bank that needs to be addressed and it take s time. If you have a little bit of an understanding of buying a short sale it can make the purchase process a little easier. Following is a post from another blog that I maintain.
Buying a Short Sale
Definition of a short sale: A short sale of a property is where a homeowner must sell their home due to a hardship (usually financial) for less money than … (2 comments)
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massachusetts short sales: Another Massachusetts Short Sale Closed - 05/24/10 04:45 PM
18 Jeffery Lane, Haverhill MA 01832- Sold $160,000
2 Bed, 1.5 Bath, 1240 square feet- Townhouse
Just closed on another Haverhill Massachusetts Short Sale. Negotiated a first lien with New York Mortgage Trust and a second lien with Citi Mortgage. Seller can move forward with no deficiency judgment.
Are you considering a short sale or would like to know what your options to foreclosure are? Call Kevin your Essex and Middlesex County Certified Short Sale Specialist. Kevin is a real estate agent that has the short sale experience to get the job done. Call 978-360-0422. More … (2 comments)
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