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Time Waits for No One...BUT in Short Sales...Know when to sound the Alarm...

By
Real Estate Agent with EXP Realty 414-525-0563 57026-90 Broker

Cher  We can't follow Cher's advice in Short Sales..."If I could Turn Back Time...."  If any of us could do that...we could undo the divorce...stay single...not buy that house....have a recession proof career...live forever and never get sick...Not take out that Home Equity Loan to do the landscaping, update the kitchen....No one can change what was...all we can do is our very best to deal with the situation as it is today. 

   Sometimes potential short sale sellers Or loan modification candidates have heard...been told that because__________(fill in the blank....they got a Notice of Default....they missed X no. of payments, they have already filed bankruptcy...it's too late for a short sale. 

   Reality is....the bank doesn't want the house....they aren't realtors...they don't need more red ink...they don't want to wait out the time for foreclosure and further deplete the salable value of the property.  We sometimes talk with distressed homeowners who have a very short window of time before the foreclosure bus comes and casts their credit to the darkest corners of the unbalanced ledger....and not one has ever gone into foreclosure. We talk with the bank and let them know we are handling the short sale...tell them we are well trained, CDPE   trained realtors.

alarm clock

  And the bus is delayed.  If you or someone you know may have hoped for better times...listed their home for too long for too much....has had the process server or sheriff knock on the door with a NOD ...there is most certainly still time to explore the alternatives to foreclosure.

   We are NOT suggesting you wait as long as possible we are suggesting that you find out as soon as possible from an experienced realtor what your options may be for turning your life right side up again...it can be done...it has been done...it IS being done every day....Don't let panic and depression overcome you..pick up the phone...no matter where you are, you can call us and we will refer you to someone qualified in your area.

Posted by

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Comments (6)

Darin Osenberg
Funky Quail Vintage - Nashville, TN

Hey guys!

This was short & Sweet!  :) Bucky says, you gooooo!!!   I think consumers and others alike think that the BANKS are BANKING all this extra cash on the closings, but truly, they are merely decreasing their risk exposure! 

In the end, the MORTGAGE INSURANCE companies are taking big losses due to the claims!  THEY ARE TO BLAME now for alot of this mess, becuz they are not insuring loans hardly anymore!  NOT THE BANKS< AND MORTGAGE LENDERS~!~!   Thanks so much for the info!  It is always appreciated!

You should show up on the ACTIVE RAIN channel under SHORT SALES in every category of the 5!

dARIN

Jun 01, 2009 11:16 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Thank you Bucky dear.....there is lots of mess...we are just trying to clean up one homeowner at a time...if everyone did that...a short sale buyer or seller...we would have monster inventory reduction...yahoo !

Jun 01, 2009 12:45 PM
Russel Ray, San Diego Business & Marketing Consultant & Photographer
Russel Ray - San Diego State University, CA

Now you've got me singing "If I could turn back time" in my head while I'm trying to watch a cool Yellowstone documentary on the Discovery channel.

Jun 01, 2009 05:55 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

While her wardrobe can be a little  over the top...or in some cases...without a top...she does have a way of bringing top of mind awareness in a haunting sort of way...we should teach her the Prosperity Song and make it the national anthem !

Jun 01, 2009 11:13 PM
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Sally & David - That's right.  And they should know, bankruptcy does not cure all problems!

Jun 04, 2009 11:58 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Got that right Wendy...not only doesn't cure them...it can create more...what a tangled financial web some folks weave !

Jun 04, 2009 12:32 PM