short sale: New Short Sale Listing - 1302 Rivermeade Hebron KY 41048 - Thornwilde - 03/20/11 04:28 AM

Neutral throughout to allow for your decorating ideas w/out too much work*First floor master*Plenty of 42 inch cabintry in the kitchen*Open lay-out*Very generously sized bedrooms*Formal dining space*Dedicted office*Neighborhood features a pool, tennis, walking trails*SOLD AS IS*
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short sale: Proactive Short Sale Processors/Negotiators - 03/15/11 03:23 AM

In a part of our industry that is notorious for poor communication, mismanaged files and the like, I've found that lately the short sale processors and negotiators are becoming much more proactive in their approach to the file/deal.  Just in the last couple weeks, I've been contacted by Citi, B of A (I know, amazing right?) and a small lender out West called Vericrest.  All of the reps from these institutions called me very early on in the process to let me know they were assigned to the file and to give me updates on required docs or the … (1 comments)

short sale: That's called having the cake and eating it too... - 03/07/11 01:58 AM

Woke up yesterday morning to a email with an offer on one of my short sale listings.  Good way to start a Sunday.  Price was very workable, the buyer was pre-approved with 20% down, closing and inspection terms were short sale friendly...looking good so far.  Then I get to the "additional terms/conditions" section where you can write in additional items to include.  The agent wrote: "Buyer reserves the right to cancel or rescind this offer at any time and for any reason prior to short sale acceptance"....HUH?!?!?  You really think my seller will go for that?  Would you?  
The offer … (1 comments)

short sale: 1194 Wildflower Alexandria KY 41001 - Parkside - Short Sale Listing - 03/06/11 03:38 AM

4 year new custom Martin Home. Quality abounds, established neighborhood. Features include: stainless steel appliances and upgraded cabinets, HUGE double shower in master, second floor laundry, office with french doors, walkout lower level, brushed nickel and oil rubbed bronze hardware/fixtures, beautiful hardwood floors, .4 acre lot, nice curb appeal. AS IS

short sale: More HAFA Nonsense on a Northern Kentucky Short Sale - 03/04/11 02:45 AM

If I had any hair...I'd be pulling it out right now!!  Let's start with the stipulations that come with an approval into the Home Affordable Foreclosure Alternatives program (anybody else with me in that even the name is dumb?).  There are plenty of "Gotcha's", as I like to call them, but I'll just focus on what I consider the most egregious and the most damaging to our success in helping homeowners who really need it.  I'll get into the specific reason for this post shortly, but here are the general stipulations that I have the most trouble with.

short sale: I was accepted into CitiMortgage's ProActive Short Sale program!!! - 02/10/11 02:59 AM

RE/MAX corporate and CitiMortage have teamed-up to help expedite the short sale process and provide local homeowners with a "graceful exit" from their mortgage problems.  Here's an excerpt from the email:
"Dear Nicholas,
Congratulations! Because of your Short Sale training and expertise, you have been selected to participate in the CitiMortgage ProActive Short Sale program. The program is designed to assist families facing foreclosure with a viable alternative, and a more "graceful exit" through a Short Sale. In support of this program, the names of three local RE/MAX agents, who have a demonstrated expertise in Short Sales, will be provided to … (7 comments)

short sale: Short Sale Listing: 469 Glenview Edgewood KY 41017 - 01/24/11 01:08 AM

short sale: Short Sale Listing: 438 Glenview, Edgewood KY 41017 - 01/18/11 07:37 AM

short sale: HAMP Fails...again - 12/15/10 05:15 AM
Last April, the Congressional Oversight Panel found the program to be struggling to get off the ground despite having been in action for a year and a half. The latest evaluation of the Home Affordable Modification Program (HAMP) came out Tuesday and the result was -- same deal.  HAMP has undergone tweaks since April. But the Congressional Oversight Panel, created to issue periodic reports on the TARP bailout program, found little improvement in performance.  Instead of helping 3 million to 4 million struggling mortgage borrowers keep their homes, as originally projected, HAMP will prevent only about 700,000 to 800,000 foreclosures. That … (1 comments)

short sale: Short Sales: Are sale/leasebacks or sale/buybacks legal? - 08/11/08 09:42 AM
For those of you that don't know, I've been asked on several different occasions whether or not I had an investor that I work with that would buy the home from them, then lease it back to them.  I've read about all I can on this topic and am still not sure.  Half of the articles say it's a great option for homeowners, and the other half say that it's not totally legal...
From what I can tell, it's all about the initial paperwork and how well that the contract is put together. 
Does anyone here know about that?

short sale: Short Sales and Deficiency Judgements - 07/15/08 05:53 AM
Please visit for more information on the Northern Kentucky real estate market.
After a successful short sale has been negotiated, there is a potential liability out there that sellers need to be aware of.  Lenders, or even the PMI company, may come after the owner for a deficiency judgement.  This can be negotiated out, with varying degrees of success depending on the loan servicer, as part of the offer.  But remember, if the home is foreclosed on, it is pretty much guaranteed that a deficiency will be filed. 
So what is the difference between the two possible outcomes? 
A 'release' means that the … (4 comments)

short sale: Short Sales and PMI - 07/14/08 11:06 AM
The deeper I get into figuring out short sales, and how to sucessfully get them closed, the more I'm suprised how many people (including the "experts" that teach at our local board of Realtors) are unaware of how PMI plays into the equation.  There are 3 questions you need to ask your loss mitigator during your first discussion that are critical to your success.  1) "Does this loan have PMI?" 2) "What is the loss ratio?" 3) "Who is the investor?"
While it's true that many borrowers were able to get around paying PMI due to the availablity of 80/20, 80/15/5, … (5 comments)

Nick Dailey, RE/MAX: Northern Kentucky Real Estate - NKY MLS - Short Sale (RE/MAX Affiliates) Rainmaker large

Nick Dailey

RE/MAX: Northern Kentucky Real Estate - NKY MLS -...

Union, KY

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RE/MAX Affiliates

Address: 4895 Houston Rd. , Ste#100, Florence, KY , 41042

Office: (859) 344-5747

Fax: (866) 541-9392

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Sharing my thoughts and experiences as an active young professional, real estate agent and investor in today's unique market.




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