short sale help: Are Lenders From Venus and Short Sale Agents From Mars?
- 05/04/12 02:54 AM
Article originally published in www.ReallyNiceHomes.com
How Does A Lender Profit From A Short Sale?
A Quick Definition:
A Short Sale in the real estate industry refers to a situation where the homeowner sells a property for less than the loan balance. The lender will take what the property sells for and the homeowner can avoid foreclosure in its entirety and subsequently both, the Homeowner and the Lender have a win-win situation
With the rising number of foreclosures happening all around the nation, homeowners are looking for effective ways to avoid losing their homes to a foreclosure and … (5 comments)
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short sale help: STOP PAYING YOUR MORTGAGE? – FANNIE MAE SAYS YES!
- 03/04/12 01:22 AM
The question that many homeowners face today. .
Should I stop making my mortgage payment before applying for a possible short sale?
As a professional that is experienced in short sales. . the only person that should advise you whether to stop making your mortgage payments or not. .is yourself!
After taking a closer look to all the existing options. In a gradual and interesting development, Fannie Mae servicers have determined that short sale applicants that are not at least 60 days late WHEN THEIR SHORT SALE APPLICATION (CONTRACT) IS SUBMITTED will be rejected without review of the short sale contract. This is … (1 comments)
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short sale help: Short Sales Short Tales . . Pricing Your Maryland Short Sale Correctly
- 10/14/11 05:11 AM
$100,000 overpriced!
I got a call from an exasperated seller. The bank was threatening to foreclose the property if he did not have an offer soon and it seems his agent was not helping by NOT SELLING HIS HOME.
One of the rules we all have to abide as real estate professionals is to NOT STEAL each other clients. Unless the client initiates the call, we are not supposed to engage them.
In this case, he hired a friend in the business and she never really ever did a short sale according to him. . .she really never came to the … (0 comments)
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short sale help: Short Sales Short Tales . . Going Back where They Came From. .
- 10/12/11 03:08 AM
Going Back. .
This one was very painful . .because my client was somewhat very much like me in a lot aspects .
I was there interviewing this nice couple from Peru and they were selling everything and going back to their country.
Of course selling their house was the last thing to do.. I was going to sell it as as short sale.
Very commendable from their part. .
They had no intention of coming back to the USA . .and their credit rating does not mean jack in their native country. .
They just wanted to do … (3 comments)
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short sale help: Received a Notice Of Intent? ( Foreclosure) -- Don't Start Packing Yet!
- 10/06/11 04:43 AM
Your Rights And Protections Under Maryland's New Foreclosure Law
We do short sales and get approvals in a weekly basis. .
But not two short sales are alike. .they are as different as snow flakes, specially before they become short sales.
Banks have a tendency to operate in different ways. .
While they are trying to protect their best interests.. they may step in areas where bad intentions maybe prevalent . .and the homeowner suffers.
Knowing your rights is a way to protect yourself from them ..
just in case you are facing difficult choices right now. . .
… (3 comments)
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short sale help: You Should Do THIS FIRST When You Can No Longer Pay Your Mortgage. .
- 09/20/11 02:33 PM
What To Do?
Before Contacting Your Mortgage Company When You Can No Longer Pay Your Mortgage Payment?
Prepare to take notes and you should do this every time you talk to them (Click on the picture below to know why?)
Then:
· Gather first all your mortgage statements and organize them.· If you have a 2nd mortgage you must include this as well.· Make a list of all your monthly debt obligations such as car loans, credit cards, etc.· They would want to know your current total income.
What should you tell your Condo or Home Owners Association if you … (2 comments)
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short sale help: Do you need to be broke in order to qualify for a short sale?
- 09/20/11 12:00 PM
Do you need to be broke in order to qualify for a short sale?
Insolvency is the key. .
Definition
A person that is deemed unable to pay its debts if it is proved to the satisfaction of the bank that the homeonwer's assets are less than the amount of their liabilities.
You must prove to the lender of your inability to pay your monthly mortgage payment, and/or have the assets to pay it off, (even partially)
You simply must prove you owe more money than you have in cash.Note:Understand that your lender is not requesting you … (4 comments)
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short sale help: Chasing Loan Modifications in Maryland From Chase Bank
- 09/16/11 05:57 AM
Owe More Than Your Home Is Worth?
Looking for a way out.. .
Want to know different tools, Techniques and Tactics for battling with Chase bank?
Do you want to save your home?
Do you want to save your credit?
Better get the truth About Your Options. . .
Because. . .
. . and it shouldNOT BEyour only option. .
TO avoid A . . .
10 Loan Modification Secrets Chase Bank Does Not Want You To Know. . .
Hi, my name is Fernando Herboso and a licensed broker in Maryland that specializes in distressed … (0 comments)
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short sale help: New Obama Program To Help Homeowners. . .Is This The Magic Bullet?
- 09/07/11 03:58 AM
The Obama administration is considering unveiling new plans next week to revive the ailing housing market and reduce foreclosures, including an effort to help troubled borrowers refinance their mortgages.
Very good news for homeowners that are borderline when it comes to refinancing their homes and have BAD CREDIT or not ENOUGH INCOME.
I just hope that this program is not another smoke and mirrors for homeowners to be tied to a property for years thinking that they are homeowners when they are only mortgage owners.
If this program reduces the principal, it will be significant. .
Read … (6 comments)
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short sale help: Our Short Sales Fees --SHORT SALES EXPERTS IN MARYLAND--
- 09/05/11 09:57 AM
Our fees and typical closing costs are contingent on short sale approval and are paid for by your lender
We even negotiate for them to pay all your closing costs. .
How much it costs to do short sale:
If you call us. . it will cost you nothing!
The best short sales experts will not charge you anything for their services.
Why?
Because they can provide you with their experience and the assistance needed to sell your house with all costs derived from the sales proceeds.
(In some cases, we find … (4 comments)
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short sale help: No Decision is a Decision -- Painful Solutions For Distressed Homeowners
- 08/08/11 09:01 AM
Article Originally Posted in www.ReallyNiceHomes.com
At the height of the real estate boom, double-digit rises in home equities meant customers could pull out money from the increased home equity to help themselves and help the economy by making major purchases.
Well, no more.
We have seen the end of this life style that they could really not afford. The equity ATM card from these homes have completely vanished and that is why we are in perilous times as far as the economy goes.
Conditions are changing, in many areas of the country, real estate price levels are flattening … (0 comments)
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short sale help: Why do short sales fail?
- 07/18/11 11:14 PM
A short sale is not a right a homeowners has. .
It is a consideration from a lender that is losing thousands of dollars on a loan.
Want to know the reasons why so many short sales fail?
It is very important that the agent you choose for a short sale has the skills, the knowledge and the experience to help you maximize your chances.
Last year, I showed a large house which was offered as a short sale at the time. This property was in contract at least twice, but just came back on the market as a foreclosure. … (2 comments)
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short sale help: Hey Short Sales Agents . .Are You Ready For The Good News?
- 07/15/11 08:20 AM
No more FTC MARS Regulation For Real Estate Agents Assisting Consumers in Disposing of a Property in a Short Sale!!
Just Passed. . in a nutshell.. . .
"Until further notice, the Commission will forbear from taking any enforcement action for
violation of the MARS Rule with the exception of the Rule’s prohibition against
misrepresentations in Section 322.3(b) against a real estate professional who provides “any
service, plan, or program, offered or provided to the consumer in exchange for consideration,
that is represented, expressly or by implication, to assist or attempt to assist the consumer [in] . .
… (2 comments)
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short sale help: Bank Of America Short Sales - Substitute New Buyer When You Lose a Buyer
- 07/12/11 10:03 AM
One of my complaints with Bank Of America Short Sales was exactly this. . buyers walk our form your short sales and have to start all over again..
I just received this email from Bank of America
Finally they listened and they are starting to make more sense. . like they really want the help of Real Estate Agents to help them deal with all these future foreclosures. .
well. .that maybe over reaching but nevertheless. .is a step in the right direction!
… (0 comments)
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short sale help: Getting Hot?
- 07/08/11 10:22 AM
"No decision IS a decision!"
… (6 comments)
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short sale help: Como Utilizar El Programa De HAFA Para Salvarse De Un Foreclosure
- 06/02/11 03:03 PM
Como Utilizar El Programa De HAFA Para Salvarse De Un Foreclosure.
Cuando ya esta perdiendo su casa. . viene una esperanza
Como tomar ventaja del program de HAFA para salvarse de un FORECLOSURE Si tu propiedad esta con pagos retrasados a tu banco y ya no puedes pagar mas. . .este nuevo program que viene directament con la ayuda del Gobierno de Obama puede ser lo que ud estaba esperando. .
Recuerde: En un short sale. . ud vende su casa En un foreclosure ud la pierde! Y en una modificacion Ud compra su casa nuevamante a un precio exorbitante! More … (1 comments)
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short sale help: Why Do A Short Sale? BECAUSE YOU CAN!
- 05/28/11 01:38 AM
Short Sales Maryland
For the month of May 2011, Herboso & Associates will post one post per day highlighting the reasons why you should do a short sale before you lose your property to a foreclosure.
31 Reasons WHY YOU SHOULD DO A SHORT SALE BEFOREALLOWING A FORECLOSURE IN YOUR PROPERTY
Day #28 --Reason #28
Because YOU CAN!!!
Why should you short sale your home? Because you CAN!!
Have you stop to ask why are banks/lenders/investors are accepting a short pay off?
Ask yourself this question. You made a loan to your friend for $1000 … (3 comments)
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short sale help: Short Sales Benefits For Homeowners Are a Lot More Than To their Lenders
- 05/24/11 04:57 AM
Short Sales Maryland
For the month of May 2011, Herboso &; Associates will post one post per day highlighting the reasons why you should do a short sale before you lose your property to a foreclosure.
31 Reasons WHY YOU SHOULD DO A SHORT SALE BEFOREALLOWING A FORECLOSURE IN YOUR PROPERTY
Day #24 --Reason #24
Short Sales Benefits For Homeowners are a lot more than to their Lenders
It benefits you MORE than it Benefits Your Lender
If you are one of the many homeowners who have fallen behind on your mortgage payments. ..
You have tried a … (4 comments)
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short sale help: The Closure And Satisfaction When A short Sale is Accepted
- 05/22/11 04:40 AM
Short Sales Maryland
For the month of May 2011, Herboso &; Associates will post one post per day highlighting the reasons why you should do a short sale before you lose your property to a foreclosure.
31 Reasons WHY YOU SHOULD DO A SHORT SALE BEFOREALLOWING A FORECLOSURE IN YOUR PROPERTY
Day #21 --Reason #21
It's Closure And Satisfaction
I admit that I'm using this series from observing the lives of the many short sale clients we had over the years. I’ve seen the worst and I’ve seen the best. . Never had I imagined being in … (3 comments)
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short sale help: Mortgage Underwater For 17 Years?
- 05/20/11 05:44 AM
Short Sales Maryland
For the month of May 2011, Herboso & Associates will post one post per day highlighting the reasons why you should do a short sale before you lose your property to a foreclosure.
31 Reasons WHY YOU SHOULD DO A SHORT SALE BEFOREALLOWING A FORECLOSURE IN YOUR PROPERTY
Day #19 --Reason #19
It Keeps You Away From Being Underwater for 17 Years!!"
Lets play a game. .
This is an scenario for two neighbors under the same conditions with two completely different results. . .
This example is just another way to … (5 comments)
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Article originally published in www.ReallyNiceHomes.com
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