foreclose: If I Do a Short Sale Will I Be Able to Rent a House? - 11/20/10 12:03 PM
Sellers facing foreclosure worry they won't even be able to rent a house and their family will be homeless. We have many families avoid foreclosure and they always found a place to move to.
A Short Sale Greatly Improves Your Position
If you are facing foreclosure in Louisville, KY, you should definitely consider a short sale. The short sale is much better on your credit and makes it easier to rent your next house. In a short sale, your lender accepts an amount SHORT of your payoff and typically forgives the difference and waives their right to pursue you for the … (3 comments)

foreclose: Think a Foreclosure Moratorium Will Save Your Home in Oldham County KY? - 11/07/10 03:50 PM
Bank of America, GMAC and Chase have recently announced a freeze on foreclosures. Soon thereafter they announced they lifted the freeze and will continue the foreclosures.
There is much confusion in the market.
One thing is sure, however, if the borrower is behind on payments, the lender eventually has the right to foreclose.
The reality is that a foreclosure freeze is not the answer to your problem. However, there are steps you can take to avoid foreclosure.
Please click here for a free report on the Five Steps to Avoid Foreclosure
Oldham County includes but is not limited to: Ballardsville, … (0 comments)

foreclose: Hidden Costs of Bankruptcy - What To Know If You Are Facing Foreclosure in Louisville - 11/07/10 03:40 PM
If you or someone you know is facing overbearing financial obligations and have considered declaring bankruptcy, the whole world—not just a mortgage—may feel upside-down. But during this stressful time, it is important to understand the processes and consequences of bankruptcy and any feasible alternatives in order to make the most informed decision.
Important disclosure: I am not an attorney, I am a Realtor right here in Louisville, KY. You should consult with an attorney to verify all relevant legal aspects of foreclosure and bankruptcy.
Bankruptcy stays on your credit for many years. The hidden costs of a bankruptcy include:
Inability to … (0 comments)

foreclose: $8,000 Tax Credit Homes Are Starting To Fall Into Foreclosure and Short Sale - 10/31/10 01:53 AM
This is Part 1 of a 2-Part Series.
Sadly, houses recently purchased with the $8,000 First Time Homebuyers Tax Credit are now starting to fall into default. Life events such as job loss, income reduction, injury, illness and divorce can strike anyone at any time, including those who hurried up to buy a home in time to pick up an $8,000 check.
Not Enough Time To Build Equity
These houses were bought in a declining market or at best in a market struggling to stabilize. Many houses were bought with very little down payment.
In order to sell fast the price … (1 comments)

foreclose: For Sale By Owner, FSBO, FiSBO to Avoid Foreclosure in Louisville KY - 10/27/10 09:41 AM
Sellers who are “upside down” often try to sell their house by themselves through various FSBO methods. However, a short sale with a Realtor can usually get the house sold even if the seller can’t afford to pay a Realtor commission.
“Upside down” or “underwater” means there is more owed on the house than the house is worth. Lenders understand that sellers are upside down on their mortgage and they encourage short sales.
In a short sale, the lender accepts an amount SHORT of what is owed so the seller can avoid foreclosure.
Who Pays the Commissions and Closing Costs? Answer: … (0 comments)

foreclose: Thousands of Foreclosures in Jefferson County KY Can Be Avoided With Short Sales - 10/13/10 11:47 PM
What is a short sale?
The seller avoids foreclosure because the lender accepts an amount SHORT of the amount owed. What's the process?
The lender requires the house to be listed with a Realtor who specializes in short sales. The Realtor procures a buyer who makes an offer. Once the offer is accepted by the seller, the Realtor presents it to the foreclosing lender with additional required documentation. Once the short sale offer is accepted by the lender, the buyer closes on the house. Who pays the Realtor commission?
The short sale lender pays the Realtor's commission so the seller doesn't … (1 comments)

foreclose: Pre Foreclosure Short Sales: The 2nd Mortgage Doom Loop - 10/06/10 12:27 AM
Recent Trend in Short Sales:
2nd position mortgage holder demands $X dollars more than the 1st mortgage holder is willing to allocate 1st position mortgage holder is unwilling to allocate more Seller doesn’t have the extra money to bring to closing Doom Loop Scenario #1
Buyer is unwilling or unable to pay the extra $X dollars on the seller’s behalf Buyer walks. Takes time to get a replacement buyer, the market continues to decline. 1st mortgage company loses much more than the $X dollars they withheld from the 2nd. Doom Loop Scenario #2
Buyer is willing to pay the extra $X … (2 comments)

foreclose: With a Short Sale You Can Avoid Foreclosure in Louisville and Get Peace of Mind - 10/02/10 11:07 AM
Imagine the peace and tranquility of getting that mortgage out of your life!
Are you getting mortgage payment collection robo calls from India, Philippines and other bank call-centers? Worried what the mailman is bringing? Worried who may knock on your door? Owe more on the house than the house is worth? Please know you have options. The bank doesn’t want your house.
Your lender recognizes your hardship and has a commonly used program called a "short sale".
A short sale happens when the lender accepts an amount SHORT of what is owed. In most cases the lender forgives any deficiency.
It … (1 comments)

foreclose: Should I Rent My House Out To Avoid Foreclosure? Great Risks, Few Benefits - 10/02/10 05:04 AM
When financial hardship strikes, the natural instinct is to save your home, for many reasons:
You want to meet your obligations and fulfill your promises Your family lives in the home You want to move when it fits your life plan You put a lot of planning, time and money into the house You want to avoid the stress and embarrassment of a foreclosure One of the ways to make the payments affordable and stay in the home is a loan modification. In an ideal loan mod the bank lowers your interest rate and lowers your payment.
If the loan modification … (3 comments)

foreclose: Does the Short Sale Negotiation Stop the Foreclosure Process in Louisville, KY? - 09/28/10 08:54 AM
Does the Short Sale Negotiation Stop the Foreclosure Process? The short answer is “No, but there still are options to avoid foreclosure”.
Now for the detail:
Your Lender Does Not Want To Own Your Home
Your lender is probably 1,000 miles away. They would rather settle and get a check rather than get the keys to your house. In general, the lender reduces their losses by doing a short sale because they don’t have to incur the losses involved in a long foreclosure process.
However, even when a short sale is initiated, the lender still continues the foreclosure process. They run … (1 comments)

foreclose: Top 44 Reasons Sellers Don’t Do a Pre Foreclosure Short Sale Even If They Need To - 09/24/10 12:37 AM
If you are a homeowner with an “underwater” mortgage or an “upside” down house, please know that millions of Americans are experiencing the same confusing and stressful dilemma.
Please be aware that under many circumstances there are solutions favorable to you. You have options and there are answers to each one of the concerns listed below.
It is extremely important that you consult with a Louisville short sale Realtor who specializes in pre foreclosure situations.
I have compiled this list of concerns as a result of hundreds of consultations and kitchen table conversations with sellers in need.
Homeowners Lose Their House … (6 comments)

foreclose: Angry Neighbors Calling The Short Sale Realtor To Cut The Grass - 08/15/10 03:07 PM
Short Sale listing agents get these calls all the time. The sellers have moved out and don’t have the resources to get the grass cut.

The grass gets out of control and the neighbors start calling the listing agent.

The tirades usually go;
“You’re the agent, you need to cut the grass!” “We’ll call the health department on you!” “You’re lowering the value of the neighborhood!” I try to explain that without me, the short sale listing agent, the house would sit abandoned for a year in a full foreclosure cycle, which would bring the values down even more. I am … (49 comments)

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

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

Email Me




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