sergio rebollo: How Will Moratorium Affect Short Sales?
- 11/02/08 12:30 PM
3 Month Moratorium...The Financial Times reported this weekend that JP Morgan Chase will freeze foreclosures for up to 3 months on $70 billion of mortgages in an attempt to renegotiate and avoid taking over thousands of houses.The measures they say, will "stave off the threat of home repossessions for 400,000 families by cutting their mortgage bills through reductions in interest rates or principal repayments and other loan modifications."WaMu Added a Big Chunk...When JP Morgan took over Washington Mutual, the deal added $176 Billion to JP Morgan's home portfolio, including $50 Billion of adjustable rate mortgages which is a big troubled area.Legitimate … (15 comments)
sergio rebollo: Are You Interested In Selling Or What??
- 10/18/08 07:04 AM
Great!!! You are referred a new client!!You get a call from a new client and you are told that someone referred you. You do your research prior to the Listing Presentation and you learn that the Seller has not made a mortgage payment in a few months.You ask all the right questions to render some anticipated advice.You provide your expertise.The Seller is unemployed and does not qualify for a Loan Modification. They are inclined to do a Short Sale as they want to protect their credit from reflecting Foreclosure.They have not been served yet but you make them aware of what they … (8 comments)
sergio rebollo: To YouTube Or Not To YouTube - PART 2!
- 10/09/08 10:07 AM
As I mentioned in the comment area of my earlier post To YouTube Or Not To YouTube? That's Is The Question! I've listed below some links that will give you an idea of how YouTube could play a role in the real estate market.http://www.youtube.com/user/TrustedMortgageProThis first link is an effective way to educate consumers on specific issues. This is an application that may apply for Will Nesbitt's CondoBenefits.com. Will could turn into short videos the key articles he has posted on ActiveRain about Condo Living. The fellow at TrustedMortgagePro recorded these videos with his own digital camera. Name banners similar to the ones used can be … (1 comments)
sergio rebollo: To YouTube or not to YouTube? That is the question!
- 10/08/08 05:21 PM
Most of what I have read on ActiveRain about YouTube has not been too positive. Some of the comments I have seen are:"I don't think anyone goes to YouTube to buy a house.""I don't have the time to sit at the computer and upload videos.""It costs a lot of money to do a video for each of my listings just for YouTube."While all of these comments may be very valid, these comments reflect that the authors are missing a BIGGER PICTURE!!!What if I told you that YouTube has helped me in a BIG way?Let's analyze each comment..."I don't think anyone goes … (6 comments)
sergio rebollo: Condo Association Fees...What Is Fair?
- 10/07/08 11:40 AM
It's Budget time...It's that time of the year when Associations formulate their budget for 2009. If you happen to live in a condominium that was built or converted prior to 2000, you probably don't face the same challenges as those that were built or converted after 2000.After 2000 by no means specifies that the construction quality is sub-standard or that they happen to function under a separate set of rules. After 2000 means that there's a possibility that the majority of the buyers purchased the unit to flip it and not necessarily to reside in it. Those that successfully flipped their … (4 comments)
sergio rebollo: How Does A Short Sale or Foreclosure Affect Your Credit?
- 10/04/08 05:36 PM
Homeowners facing foreclosure have a number of options, one of which is doing a short sale. Some people, depending on their situation, may allow a property to go into foreclosure instead of attempting a short sale. One reason is they don't have any expectations of saving the property so walking away is an easy solution. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes. The primary consideration above all is the affect both can have on your credit score. The … (5 comments)
sergio rebollo: Any Good Websites to Market Condos?
- 10/04/08 12:09 PM
South Florida is a big market for condominiums. As everyone knows, there's a glut of new buildings that have been erected throughout the Downtown Miami area, South Beach, North Beach, North Miami Beach and Coral Gables. One advantage that we have in South Florida is that we have international appeal. We have clientele purchasing in South Florida from Europe as well as Central and South America. We all know that 86% of the buyers search the Internet for their next purchase before contacting a Realtor. I am continually seeking new venues to market my services on the web. I recently discovered … (1 comments)
sergio rebollo: Miami Short Sales...Is It The Same Anywhere Else?
- 09/30/08 06:39 PM
Short Sale Realtor, Sergio Rebollo Jr.: Miami Short SalesI've read in the last few days several posts on ActiveRain regarding Short Sales and what the negotiated selling prices have been. I am surprised to read that some of the negotiated prices are a bit higher than what is common in the Miami Area. A year or so ago it was common to see a bank accept 70% to 75%of what was owed. You then started to hear that 60% to 70% were being approved. Most recently, we've started to see some agree to 50% to 55% of the original loan amout....and yesterday.... I saw one get approved at … (7 comments)
3 Month Moratorium...The Financial Times reported this weekend that JP Morgan Chase will freeze foreclosures for up to 3 months on $70 billion of mortgages in an attempt to renegotiate and avoid taking over thousands of houses.The measures they say, will "stave off the threat of home repossessions for 400,000 families by cutting their mortgage bills through reductions in interest rates or principal repayments and other loan modifications."WaMu Added a Big Chunk...When JP Morgan took over Washington Mutual, the deal added $176 Billion to JP Morgan's home portfolio, including $50 Billion of adjustable rate mortgages which is a big troubled area.Legitimate … (15 comments)
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