foreclosure: The Benefits of Working with The Dave Halpern Real Estate Group - 08/22/13 03:00 PM
Check out our new website Dave Halpern Real Estate Group in Louisville
About Dave Halpern:
Most importantly, I care about helping you avoid foreclosure. Track Record! I successfully close dozens of short sale listings each year Enthusiastically satisfied clients – I have many testimonials Capable Trained Experienced Organized Systemized Has full team of four that negotiates and processes short sales Again, most importantly, everyone in our organization cares about helping clients avoid foreclosure. Our goal is to help you get the house debt out of your life and have your lender forgive any deficiency, in writing! We have helped many sellers … (0 comments)

foreclosure: Is Your HOA Destroying The Value of Your Home? - 03/16/12 11:21 PM
Homeowners should make a point to understand what their Home Owners Association (HOA) is doing, especially in arena of dealing with salvaging fees from homeowners in foreclosure.
ZERO Recovery Forever Instead Of Thousands Now
Some Homeowner Associations prefer to get ZERO dollars if the house goes to foreclosure rather than thousands of dollars NOW in a short sale.As a short sale Realtor, I have gotten foreclosing lenders to pay thousands of dollars to cover settlements on large delinquent HOA balances. However, some HOA's have all-or-nothing "no-settlement" policies. The HOA wants every cent including legal fees or let the house go to … (29 comments)

foreclosure: Closing Attorneys are Refusing to Sign the Short Sale Freddie Mac Addendum Item 13 - 10/24/11 01:50 AM
Freddie Mac is turning down short sale closings and forcing houses into foreclosure.
The addendum requires that all parties: The closing attorney, the seller, the buyer, the Realtors and anyone who facilitated the transaction be liable for the deficiency if any mistakes were made by anyone in the chain.
Closing attorneys all over the country are refusing to close short sales with the Freddie Mac Short Sale Addendum Item 13.
Short sales are blowing up! E&O companies are refusing to insure closings if the parties sign the addendum. Well guess what? PARTIES ARE REFUSING TO SIGN THE ADDENDUM!
PARTIES, INCLUDING CLOSING … (2 comments)

foreclosure: Bank of America Cutting 30,000 Jobs - Good or Bad? - 09/12/11 08:07 AM
 
Bank of America is downsizing 30,000 employees. Click here for article.
 
Is this good or bad for the housing market? Will this help BOA process short sales faster? Will this help BOA process REO's faster?  
Realtors nationwide are trying to help the banks mitigate their losses by processing short sales.
However, Bank of America is notorious for taking a year or two years to process individual short sales, all the while the houses are losing value. The many thousands of short sales that were handled ineffectively could have helped BOA recover more funds than they did by foreclosing … (3 comments)

foreclosure: Why Should Buyers Bother To Buy A Short Sale? - 09/04/11 12:59 PM
Should buyers bother to buy a short sale? Yes.
Here’s why;
House values are not going up with consistency, yet.
It Costs Money To Resell a House.
If You Buy Today, How Will You Pay Resale Closing Costs Later?
Buyers know that buying a house is not automatically a successful investment anymore. If the market stays level for years, buyers need to buy now at a discount just be safe later, so they won’t have to bring money out of pocket when they sell.
Short sales in general sell for a somewhat of a discount off market value. However, no one … (6 comments)

foreclosure: Imagine your life without that crushing mortgage debt - 08/26/11 03:18 PM
Behind on payments? Owe too much on your house? Can't afford commissions?
There is hope.
You have options.
You don't have to lose your house to the bank.
You can sell it for less than you owe.
The bank calls it a "short sale". They accept an amount short of what you owe.
In most cases your lender forgives the shortage and you don't have to pay it back. It is forgiven. Your lender puts it in writing.
This is real.
Your lender pays your closing costs and Realtor commissions.
Please call your lender and ask for the short sale department, … (3 comments)

foreclosure: Brick Wall On a Fifth Third Short Sale, Need Help! - 07/18/11 01:03 AM
I have not run into such a brick wall in the hundreds of liens I have negotiated.
5th 3rd prefers ZERO dollars over $4,500 in a short sale now. Any suggestions?
I am helping my client with a short sale on an investment property. Sales price is $175,000. The first mortgage, Citi, is taking a short sale and allocating $4,500 towards the second mortgage, which is 5th 3rd.
5th 3rd wants the entire remaining balance of $40,000 to be repaid by the seller. 5th 3rd wants the seller’s current 2nd mortgage on the investment property to be transferred as a third … (2 comments)

foreclosure: 5th 3rd prefers ZERO dollars over $4,500 in a short sale now. Any suggestions? - 07/15/11 11:01 AM
I have not run into such a brick wall in the hundreds of liens I have negotiated.
My client is doing a short sale on an investment property. Sales price is $175,000. The first mortgage, Citi, is taking a short sale and allocating $4,500 towards the second mortgage, which is 5th 3rd.
5th 3rd wants the entire remaining balance of $40,000 to be repaid by the seller. 5th 3rd wants the seller’s current 2nd mortgage on the investment property to be transferred as a third mortgage on the seller’s personal residence. The seller may have maximum $5,000 to $10,000 equity in … (6 comments)

foreclosure: How To Sell Your Louisville House If You Cannot Afford Realtor Commission? Short Sale. - 06/18/11 03:38 PM
If you can't afford closing costs and Realtor commission, you are probably like millions of Americans who owe more on your house than the house is worth.
Please Do Not Despair - You Have Options
Your lender recognizes this problem and has a process called a short sale. In a short sale, your lender accepts an amount SHORT of your payoff, hence the term SHORT sale.
Dave Halpern, Real Estate Broker of Louisville Short Sale Expert, helps dozens of Louisville homeowners sell their house and avoid foreclosure every year. The lender pays the Realtor commission on behalf of the seller.
(1 comments)

foreclosure: When Should The Buyer Of A Short Sale Lock In An Interest Rate? - 06/16/11 08:59 AM
The problem: An interest rate lock costs the buyer substantial non-refundable upfront money. The money will be lost if the house does not close on time. Yet, short sale timelines are long and unpredictable, to say the least.
What should all parties do in a short sale, as it relates to rate locks?
The listing agent should:  
Disclose in writing to the buyer, the buyer’s agent and the buyer’s loan officer that the short sale may take months and there is no guarantee of approval. Disclose in writing if the buyer locks in a rate it is at the buyer’s … (5 comments)

foreclosure: 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)

foreclosure: Emotions During a Foreclosure –Fear, Depression, Anger, Embarrassment - 06/05/11 02:50 AM
All this within the strict timeline of a looming foreclosure. Not enough time to become a legal expert or a real estate expert. Who do you ask? Who do you trust?
I am here to tell you that you have options. Good options.
Did you know that lenders accept short sales? In a short sale, the lender lets the house sell for amount SHORT of what you owe. Hence the term SHORT sale.
In an ideal short sale the lender will forgive the shortfall and you will never have to pay it back. That debt forgiveness is issued in writing. You … (11 comments)

foreclosure: Mortgage Hope is Important But Facts Should Not Be Ignored - 06/04/11 06:09 AM
If your mortgage payments are unsustainable YOU NEED TO GET RID OF YOUR HOUSE.
Hanging on too long to a lost cause will just clean you out financially and emotionally.
I know this sounds harsh, but I can't even count how many times sellers told me they wish they had met me years earlier. They wish they would not have hung on so long. These are compassionate words, coming from others who walked in your shoes before you.
I help dozens of families each year avoid foreclosure by negotiating a short sale with their lender. The lender lets the house sell … (2 comments)

foreclosure: What does a foreclosing lender prefer - pay a utility bill or lose an additional $50,000? - 05/28/11 06:20 AM
Usually the lender prefers to lose $50,000 rather than pay an electric bill.
Foreclosing lenders turn down short sale offers after stringing everyone along for months or years. They scare owners off and scare tenants away if it's rented. Owners don't have money to keep utilities on in a vacant house for a year, especially while the bank toys with the seller's finances and emotions.
Banks ignore warnings
If our short sale clients move out and turn the utilities off, we notify the lender and plead with them to pay for utilities if there is a basement and a sump pump … (4 comments)

foreclosure: Does the house go away if I surrender it in bankruptcy? - 05/27/11 04:32 PM
When a borrower “surrenders” a property in a bankruptcy, the ownership doesn’t automatically revert to the bank.
“Surrender” means you are declaring that you do not intend to keep the property. The house and the liability of ownership remain with you, the owner, until you get rid of your ownership. Ask your bankruptcy lawyer exactly what "surrender" means.
How Do I Get Rid Of Ownership?
The house needs to be sold to a new buyer, or get foreclosed upon or conveyed by deed-in-lieu to the lender.
But I thought the bank takes the house in the bankruptcy...
It is a common misconception that the house somehow … (2 comments)

foreclosure: Divorce - A Quitclaim Deed Does Not Release You From Obligation On The Loan - 05/24/11 03:59 PM
It's a common misconception that if "I give her/him the house" you are done with the responsibility for the loan.
If you are signed on the loan, the lender will hold you responsible for the payments whether you have an ownership interest or not. "Giving the house" is often referred to as a "quitclaim". In a quitclaim deed, you are resigning from ownership of the house, but it doesn't take you off the loan. It is sometimes erroneously called a quickclaim deed.
The lender wants to keep everyone on the hook for the loan payments
The lender got you and your … (7 comments)

foreclosure: New Construction on a Bad Lot Could Lead to Foreclosure - 05/23/11 04:48 PM
Many sellers wonder why their house isn’t selling even though their neighbor’s houses sell for more money and faster. These houses often have inferior lots.
Postage stamp size lots surrounded by larger lots. Unusable or dangerous sloping backyards. Houses that back up to massive buzzing electrical transformers, that didn’t exist when the neighborhood was under development. Driveways that are nearly impossible to navigate. Lots that excessively retain water. Houses that have virtually no road frontage, compared to neighbors who have ample road frontage. Houses that have dismal views compared to their neighbors who have spectacular views. Houses on narrow and winding … (3 comments)

foreclosure: Divorce With One Spouse NOT on the Loan - How Does Short Sale Or Foreclosure Impact Credit? - 05/21/11 04:18 AM
Many times one of the divorcing spouses is NOT obligated or liable for the loan and therefore their credit may not be impacted. I'm referencing obligation to the lender, not obligation under the divorce agreement. Sometimes one of the spouses did not have had good enough credit while the other spouse had strong enough income and credit to qualify for the loan by himself or herself. Other cases could include a house and mortgage that was already in a spouse's name prior to the marriage. This is vital to know in a short sale situation.
How does a foreclosure or short … (2 comments)

foreclosure: When will house values rise back to equal what is owed? - 05/15/11 09:52 AM
Millions of homes are “underwater” or “upside down”, meaning the debt is higher than the value of the property.
I am often asked variations of the question “When will home values rise back to equal what is owed?”
I never want to sound negative, but the answer is measured in years.
Here’s a simple math problem to make the point
If you have $100.00 and you lose 50% of it, you now have $50.00 left.
If your new balance of $50.00 now goes back up by 50% (fifty percent), it is only worth $75.00.
Because 50% of $100.00 on the way … (45 comments)

foreclosure: Divorce, Foreclosure and Short Sales In Louisville, KY - Who To Ask? - 05/14/11 01:07 PM
Divorcing and owe too much on your house? Mortgage payments too high to handle?
Who to ask for advice?
Typically the first people turned to are relatives, marriage counselors, divorce lawyers, sometimes bankruptcy attorneys. Maybe the Realtor who helped you buy the house years ago will be called.
A Realtor who specializes in preforeclosure short sales should be on your team.
I am a Real Estate Broker right here in Louisville, specializing in helping sellers avoid foreclosure by negotiating with their lender to let the house sell for amount short of the payoff. This is called a short sale.
Short sales … (2 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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