foreclosure: Sell the Property!~Option 3 for Central Florida sellers facing foreclosure - 08/03/09 05:57 PM
There are many options for Central Florida sellers who are in foreclosure. While some may seem simple and obvious, many others may be unknown to the consumer and their real estate professionals. It is my goal, through this series, to address the 9 Options for sellers who are facing foreclosure so that the public and real estate agents alike can determine which options may be worth pursuing. To get caught up, you may want to read the 9 Option Summary here. Option 1: reinstatement of your loan here and Option 2: Forbearance or Re-Payment Plan here. This particular article is what one might refer to as … (1 comments)
foreclosure: Forbearance or a Re-Payment Plan: Option 2 for Central Florida Sellers facing foreclosure - 07/28/09 06:16 PM
There are many options for Central Florida sellers who are in foreclosure. As a Certified Distressed Property Expert (CDPE), there are many options that I can (and do!) suggest to Central Florida Sellers who are facing economic hardships and who are concerned about losing their home to foreclosure. To find out about the 9 options for Sellers, you can read my blog post here. You can my blog post about Option 1, which is reinstatement of your loan, here. Today's post is about Option 2, which is Forbearance or Re-Payment Plan. Option 2 is somewhat like Option 1 in that if a borrower … (3 comments)
foreclosure: Sellers Facing Foreclosure Have Options...9 options for Central Florida Sellers - 07/27/09 10:52 PM
There are many options for Central Florida sellers who are in foreclosure. As a Certified Distressed Property Expert (CDPE), there are many options that I can (and do!) suggest to Central Florida Sellers who are facing economic hardships and who are concerned about losing their home to foreclosure. Below are 9 options that are available to Sellers: Reinstatement: Forbearance or Re-payment Sell the property Rent the property Refinance the property Mortgage modification Short-refi Deed-in-lieu of foreclosure Bankruptcy (if all else fails!) If you own a home in Central Florida and are unable to pay your mortgage and are thinking that foreclosure … (0 comments)
foreclosure: The Need for an Inspection Contingency when Purchasing Short Sales and Foreclosures - 03/15/09 09:30 PM
Regardless of whether you purchase a brand new home from a builder, a re-sale home from a traditional seller, a short sale or a bank-owned property (a foreclosure), one of the most important steps in the buying process is to have the property inspected by a certified, licensed and insured Home/Building Inspector. While you may elect to hire a licensed roofer, plumber, electrician and HVAC contractor to individually inspect these four main components (considered a Four Point Inspection), there are many certified Home/Building Inspectors who can & do provide a comprehensive inspection of the property by evaluating the below componets & more: Roof … (1 comments)
foreclosure: Part I: Are Loss Mitigation Companies Friends or Foes? - 02/07/09 10:11 AM
This series is being written as a result of not only my experiences, but those of other Real Estate agents, Sellers and Buyers who have recently been party to a real estate transaction involving a new breed of company that promised one thing, and yet delivered something much different. Your comments and personal experiences are welcomed, as education is the intended outcome. Part I: In every type of real estate market, there will always be individuals and companies that will capitalize on the current state of affairs. Some might say that they are just entrepreneurs who are making a living providing a service that is … (7 comments)
foreclosure: Buyers: Consider a Title Search BEFORE Writing An Offer to Purchase a Bank-Owned Property - 12/19/08 10:39 PM
With the ever changing real estate market and the number of foreclosures growing minute by minute, Buyers and their agents should be aware that there have been several instances in Central Florida where the lender has not filed the foreclosure properly; and as a result, are not truly able to sell the house you may want to buy. According to the FAR/BAR contract in Florida, title companies must have the title policy to the Buyer's lender at least five days prior to closing...which is normally an ample amount of time to clear up anything minor...but, often times, title searches for homes that … (36 comments)
The agent who has the house for sale is the listing agent and represents the bank, not you. The bank may require that the home be on the market for a minimum number of days prior to reviewing any offers. So, even if you write a full-price offer the first day the house is listed, the bank may want the home to be marketed for 1 week, 2 weeks or longer before accepting an offer. The bank will continue to keep the property for sale while they … (1 comments)
foreclosure: Are Listing Agents Qualified to Give Legal Advice on Short-Sales and Foreclosures? - 11/10/08 02:43 PM
DISCLAIMER: I am not an attorney, nor do I play one on TV (or in my Real Estate practice.) All too often, I receive calls from Sellers who are facing a financial hardship and are considering "walking away" from their home or who request information on negotiating a short-sale with their lender. As much as I would love to "help" them by providing all of the answers to their questions, I am very aware of my limitations and do not offer legal advice about what ramifications the Seller may face should they proceed. As a matter of fact, it is now … (4 comments)
foreclosure: How Much Does a Foreclosure Effect Your Credit Score? - 11/03/08 08:36 PM
With all of the foreclosures and short-sales taking place in the real estate market today, this might be one of the most important (yet unanswered) questions one can and should ask. According to an article given to me today by Patricia Marbes and Amy Dunn of Wells Fargo Mortgage, the impact on credit scoresis dependent on more factors than just the foreclosure or short-sale itself. For example, Fair Issac has communicated that FICO scores do not distinguish between a short sale, a deed in lieu and a foreclosure when rating a borrowers credit worthiness. In addition, because this is a fairly … (6 comments)
foreclosure: Will there really be no consequences? - 05/01/08 09:53 PM
Earlier this week, I was having a conversation with a past customer (who is also a licensed RE agent). This customer/agent now has one of his "investment" homes listed for sale in the MLS "subject to a third party approval." Because I wanted to see if there was anything I could do to help him, I called. As we were talking, he commented that the home was soon to be in foreclosure. Surprisingly, his justification of "walking away" was rather cavalier. Simply put he said "I'm really not worried about a foreclosure on my credit as there are hundreds of thousands of people … (8 comments)
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LaShawn Norden, REALTOR, (321) 377-0157 Your Real Estate Advocate in Central FL
Selling or purchasing a home can be exciting and scary at the same time! The goal of my blog is to educate Central Florida Buyers & Sellers about the Good, the Bad & the Ugly things that can happen in a real estate transaction! As an advocate for consumers in Orange, Seminole and Volusia County, I especially enjoy working with first-time home buyers, relocation buyers, sellers of distressed property and luxury home sellers. Native to Central Florida, I'd welcome the opportunity to be your advocate too!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
There are many options for Central Florida sellers who are in foreclosure. While some may seem simple and obvious, many others may be unknown to the consumer and their real estate professionals.
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