debt: This Cat Attended My Short Sale Listing Presentation - 06/16/11 12:44 AM
I’m used to having additional parties attend my short sale listing presentations. I welcome the opportunity to explain the process. The sellers often bring to the table advisors and supporters who are their;
Parents Children Siblings Grandparents Grandchildren Neighbors Friends Significant others who are not on the loan Financial advisors Legal advisors I enjoy the crowd. The more people the better. I am confident in my knowledge and confident in my answers. I have vast supporting documentation at my fingertips wherever I go.
The more questions I am asked the better it is. Questions lead to understanding. Short sales are complex … (11 comments)

debt: Do It Yourself Divorce and Uncontested Divorce – But what about the upside down house debt? - 05/19/11 12:25 AM
Divorced or divorcing spouses often call me to help them sell their house. Sometimes they say they have a very simple divorce. No kids, no complicated assets to divide up. Just a mutually agreed upon decision to part ways.
“There is that house we need to sell. But, there’s no equity to split, so it’s not a problem. We owe more than it’s worth.”
I’ll ask, “What does your divorce attorney say about that?”
“We’re not wasting money on lawyers. We went to the court house and got a do-it-yourself divorce packet, filled it out ourselves and filed,” comes the reply. … (3 comments)

debt: Divorce - Mortgage Payments Too High and Owe Too Much to Sell. What To Do? - 05/08/11 02:03 AM
How about getting rid of the mortgage debt altogether via a short sale? Let’s explore.
Dividing the excess home equity in a divorce used to be a primary point of contention. Today it seems that dividing the debt is a primary issue.
Millions of homes nationwide have “underwater mortgages” meaning more owed than the house is worth. Leaving that debt in place is fraught with peril.
What if I deed my house to the other spouse?
Remember, no matter what the divorce agreement says, the parties who originally signed their obligation on the existing mortgage debt remain personally liable to repay … (2 comments)

debt: I Want to Get a Divorce But I Cannot Because I Can’t Sell My House! - 05/06/11 01:15 AM
Here is what I often hear:
I can't stand my spouse and want to get a divorce. The only thing holding me back is that we have a house worth less than the mortgage and neither one of us can afford mortgage payments by ourselves. Therefore, we would have to sell before getting a divorce. Please, any suggestion will be helpful. I need to get out of this marriage ASAP.
 The answer could very well be a short sale
A short sale can get the house liquidated even if you owe more than the home is worth. In effect, your lender … (9 comments)

debt: When a Short Sale Gets Your Debt Forgiven - 05/02/11 12:09 AM
One of the biggest fears of borrowers facing foreclosure is the bank’s right to pursue them for the difference after the foreclosure is done.
A Short Sale May Relieve You Of All Obligation on the Debt
Many borrowers do not realize that a short sale could lead to full forgiveness of the deficiency. That means the borrower can put the debt behind them and never have to worry about paying any of it back.
In a short sale the lender lets the house sell for an amount SHORT of the payoff.
A short sale provides the possibility of “forgiven debt.” If … (3 comments)

debt: Getting contradicting advice about short sales - who should you listen to? - 03/23/11 02:59 PM
You are in a financial bind. You ask people for advice. Did you notice many give advice even though…
Some have vested interests. Some don’t see the full picture, only their narrow area of expertise. Some wear expensive suits but have never done a short sale, and think that short sales are too good to be true. Some sincerely want to help but don’t know the reality of short sales and how to avoid foreclosure. Some can’t imagine your emotional or financial position. Who are the people who give you advice about avoiding foreclosure and minimizing the damage to your financial … (12 comments)

debt: Can I Short Sale If I’m Behind On Payments? - 02/18/11 02:41 PM
Can I short sale my house if I am behind on payments in Louisville KY?
Yes! As a matter of fact, banks and lenders have designed the short sale as a method to help borrowers who are behind on payments. The banks almost expect you to be behind on payments in order to qualify for the debt relief of a short sale. You have options, and there is a way out.
What is a short sale?
A short sale occurs when a house sells for an amount short of the full amount amount owed to the lender. Hence the word “short” … (7 comments)

debt: Measuring Success - How Many People Did You Help This Year? - 12/24/10 11:51 AM
There are many ways to measure success. Most of them are technical and financial. But looking back on 2010, Realtors should ask how many people are living a better life because you were in their lives this year?
How many families improved their homeownership position because you guided them properly? How many families got out of a bad housing and a bad debt situation because you helped them? How much happiness did you bring to others? How much overwhelming stress did you eliminate from people's lives because of your compassion and skills? Aren't these the real questions? Everything else is a … (7 comments)

debt: Medical Bills, Foreclosure and Short Sales in Louisville - 09/16/10 01:20 AM
Health problems and medical bills are a major cause of foreclosure.
As a short sale Realtor in Louisville, I help many homeowners avoid foreclosure. In many cases, the hardship that caused the payments to fall behind is directly related to health issues.
Health issues often cause job loss or job reduction. Homeowners are faced with a choice; pay the medical bills or pay the mortgage.
In the past, homeowners could sell their house at a profit. The sale would simultaneously get rid of the mortgage payment and put cash in their pocket.
Can't Sell the House
In today’s market that is … (0 comments)

debt: Short Sales: Extra Compassionate Care Needed When Helping Retirees in Danger Of Losing Their Home - 08/26/10 12:08 AM
There is an alarming trend in short sales: Retirees losing their homes.
In the last several months I have listed in Louisville, Kentucky several short sales for clients in their golden years. Homeowners in their 60’s 70’s and 80’s are being hit with multiple reasons causing an involuntary sale of a home.
Declining values of homes Death of spouse resulting in emotional loss and loss of associated income Job loss Business volume declining if they are independent business people Health issues causing increased expenses and reduction of income When real estate was hot, homeowners could just sell their way out of … (5 comments)

debt: Short Sales - The Buyer Shouldn't Plan On Moving In On Closing Day - 07/09/10 10:27 AM
Say Whaaat?
Unfortunately short sales aren't really guaranteed to close even when all parties say it will. It has to do with the little perils of the last 48 hours prior to closing.
The two main areas prone to last minute problems are:
Short sale lender final review Last minute liens Problem 1: Final lender review
Lenders approve the short sale based on an estimated HUD net sheet that is generated weeks or months prior to closing. Since final prorations will change based on the exact closing date, the foreclosing lender usually wants to review the final HUD 24 or 48 … (2 comments)

debt: HAFA Short Sale - Consumer Friendly Brochure - 07/06/10 05:36 PM
Need a consumer friendly overview of HAFA short sales?
The National Association of Realtors (NAR) has published an easy to understand brochure about the Home Affordable Foerclosure Alternatives (HAFA).
The brochure covers:
Benefits of HAFA HAFA Eligibility HAFA Process Useful Links Here's the link to the brochure: Worried About Foreclosure? HAFA May Be Able To Help
The two greatest benefits of a HAFA Short Sale are forgiveness of the deficiency and granting a $3,000 cash incentive to the seller.
Hopefully this post and the linked document will help Realtors simplify the explanation of this important option available to homeowners who need debt … (5 comments)

debt: Short Sales and Hard Working Americans - 07/06/10 01:44 AM
I list and close dozens of short sales each year, which gives me a reliable vantage point of a typical short sale in my city.
Here's my observation of a typical short sale seller.
High sense of responsibility. Devastated that they can't meet their obligations. Ran up credit cards trying to keep the house payment afloat. Depleted their savings trying to keep the house payments afloat. Incurred other debt and did not pay other critical bills so they can keep their house payment afloat. Took on additional jobs to make a little more money to try to keep their house payment … (2 comments)

debt: July 4th and Independence from Debt Via a Short Sale - 07/04/10 10:50 AM
July 4th is a day each year for us to contemplate and appreciate the freedoms we enjoy.
I speak with homeowners every day who are searching for their own independence day from the shackles of mortgage debt. Homeowners who are valiantly fighting the fight to meet their obligations but are losing the battle.
Declining job market and declining market values have combined to cause many hard working Americans to be unable to make their mortgage payments on their now overleveraged homes.
Many families have tried loan modifications and a variety of repayment plans, and still cannot overcome the deficit.
A short sale … (0 comments)

Dave Halpern, Louisville Short Sale Expert (Keller Williams Realty Louisville East (502) 664-7827) Rainmaker large

Dave Halpern

Louisville Short Sale Expert

Louisville, KY

More about me…

Keller Williams Realty Louisville East (502) 664-7827

Address: 1230 S. Hurstbourne Lane, Louisville, KY, 40222

Office: (502) 664-7827

Mobile: (502) 664-7827

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