short sale eduaction: The short sale process and its' deficiencies.
- 06/01/11 06:58 AM
This too good not to share. This is an article written to the editor of Inman News from a real estate agent from Las Vegas. His response is on point. Many folks have opinions on "how" our market is doing, but the truth is, those that are on the front lines have the best reports. The short sale processis tricky and often mis-aligned with no clear protocol to follow AND each bank follows a different protocol. Buyers are often mis-informed or uneducated about how the process works. Mr. LeVine makes some very good points on how this could be changed. A big thanks … (9 comments)
short sale eduaction: What Coloradoans need to know about home loan modifications.
- 05/12/11 05:34 AM
What Coloradoans need to know about home loan modifications. This is a great article with tools on how to prepare for the loan process and how to proceed once in the process. Also, this is a good clip about some locals who were successful in getting a loan mod done... with help. The process is long and tough but persistence is key. 9News has helped get loan mods through but it would be nice to know that a news channel doesn't have to get involved to know the process is working correctly. They key is to remember NOT all homeowners will qualify and … (2 comments)
short sale eduaction: Loan modification and how to. What does it take? Colorado
- 05/12/11 04:59 AM
Loan modification and how to. What does it take? Are you trying to get a loan modification done? If you are like many Colorado homeowners your thoughts are they don't happen. The truth is they do and NOT all homeowners will qualify. Also, this is a video from last nights 9News about a local homeowner who was successful but it came with some help. … (0 comments)
short sale eduaction: New proposed bill to impose quick response time on short sales. 45 days!
- 04/15/11 05:16 AM
New proposed bill to impose quick response time on short sales. 45 days! I just happened to see the headline for this article. REALTORS Applaud Bill to Speed Lender Response to Short Sales What a great idea! "A new bill to improve the process for approving short sales may soon bring relief to distressed homeowners who are unable to keep their homes and hope to avoid foreclosure. The bill, recently introduced in the U.S. House and strongly supported by the National Association of REALTORS®, would impose a deadline of 45 days on lenders to respond to short sale requests. The legislation, the … (5 comments)
short sale eduaction: Short sale questions and answers: What is the priority of offers? Must knows for buyers.
- 03/29/11 09:13 AM
Short sale questions and answers: What is the priority of offers? Must knows for buyers. I found this article today regarding how realtor's handle offers in short-sale situations. There are many mis-conceptions and confusion about how short-sale protocol flows. Remember, there is a third party involved that requires "approval" outside of the two signing parties: the Lender. Banks often have addendum's and protocol that super cede your contract/offer and will pursue the best "net" offer. That means your contract is not approved until the lender signs off on it. Only then are you under contract. "Ultimately, the short-sale addenda prevents the contract from being finalized so as … (2 comments)
This too good not to share. This is an article written to the editor of Inman News from a real estate agent from Las Vegas. His response is on point. Many folks have opinions on "how" our market is doing, but the truth is, those that are on the front lines have the best reports. The short sale processis tricky and often mis-aligned with no clear protocol to follow AND each bank follows a different protocol. Buyers are often mis-informed or uneducated about how the process works. Mr. LeVine makes some very good points on how this could be changed.
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