foreclosures: Financial Incentives and Uniform Process for Short Sales
- 12/09/09 09:25 AM
Hi all. Anyone seen this paper coming from the Treasury Department? Does anyone know is this is really for real or is this a bill that has no chance of making it. I have read through the document from Government Affairs and I think that adding incentives, much like cash for keys, which should help with people get out of foreclosure and sell their home short. I think in the long run the government should consider moving in between banks and their "difficiency judgements". This is where I think it could cause another wave of problems if banks start collecting on … (0 comments)
foreclosures: You really need a hardship!
- 11/17/09 03:25 AM
It is so important when going to a potential short sale listing appointment that you are prepared to ask the right questions to make sure that you do have a hardship. This will save you and your client a lot of time, money, and frustration. In my experience, I have found that when going to one of these listing appointments having a list of questions so as to "interview" the potential client before you take the listing is really important. I was told back when I first started taking on short sales was that the best business you do in this field sometimes was the business … (3 comments)
foreclosures: Interesting foreclosure facts from the WSJ
- 07/03/09 03:22 AM
Found this article on www.wsj.com and thought the findings were interesting; although in the state of WA negative equity is not a "hardship" for a short sale, many other things are most of these situations are in a negative equity position. http://online.wsj.com/article/SB124657539489189043.html# From my stand point here in the Tacoma area, this is only going to worse before it gets better.
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foreclosures: Washington state increases foreclosure eviction timeframe to 60 days.
- 06/20/09 05:19 PM
There is an old saying, "the law is for the lawless". Many people in Washington state facing foreclosure will benefit from this new law (especially families where there are children involved and new schools have to be found sometimes) but for those who exploit the system, it puts more sand in the machinery. Please click on article below defining the new law our governor has just signed: http://www.raincityguide.com/2009/06/19/longer-waiting-period-to-evict-tenants-after-foreclosure-in-wa-state-effective-july-26-2009-and-free-legal-aid-for-wa-homeowners-facing-foreclosure/ I am interested in anyone's take on this and what effect positively or negatively it will have. … (4 comments)
foreclosures: What I REALLY got in the business for....
- 06/19/09 09:57 AM
Back in the early 90s my wife and I started buying homes, fixing them up, and selling them for a profit. We were definitely not the first ones out there doing this type of thing, but we were doing it before "Flip this House" was on TV! I was working in the Computer Resale world at the time and pretty much was bored to tears; then my wife says to me one day, if you could do anything in this world for work, what would you do? My first response was Real Estate. I loved what we were doing as a … (1 comments)
foreclosures: Short sale questions for the listing agent when searching in University Place, WA
- 06/14/09 03:47 PM
I have been reading some blogs recently about listing agents who are taking on short sales and having no idea what they are doing; I have found a few questions that could help you ascertain where you are in the sale when your buyers want the house that the listing agent on the transaction has no idea how to handle a short sale: Q1 - Have you ever done a short sale before? Q2 - Have you ever closed a short sale before? Q3 - How many short sales have you closed? Q4 - What lenders have you worked with? Q5 … (3 comments)
Hi all.
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