louisville ky: Carrie Gaulbert Cox Walking Park In Louisville is Under Water - 03/16/11 01:06 PM
The Ohio River in Louisville overflowed it banks. Check out this photo. The Carrie Gaulbert Cox Walking Park is an oasis just east of downtown Louisville, but is now literally under water.
Once the water recedes the clean up will begin. In the meantime, the park provides images of a different kind.
The park is situated between River Road and the Ohio River.
Photo taken on 3/16/2011 by Dave Halpern

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louisville ky: Short Sale Lenders: We can help you avoid owning all this mold, algea, rust and wood rot - 03/04/11 11:59 PM
In a short sale:
The longer the banks take, the sellers are less inclined to subject themselves to the stress.
The longer the banks take, the buyers are less inclined to subject themselves to the uncertainty.
The longer the banks take, the Realtors are less inclined to subject themselves to the wasteful runaround.
The longer the banks take, the buyer's loan officer is less inclined to subject themselves to the frustration.
Mother nature, however, doesn't mind. She continues to work on these houses day and night.
The short sale lenders, the servicers, the mortgage insurance companies and the investors who own … (3 comments)

louisville ky: Small House Surrounded By Big Trees - Make Sure The Trees Are Healthy - 02/27/11 05:44 AM
I have seen many houses severely damaged by limbs or entire trees that came crashing through the roof.
Louisville KY is prone to wind storms, right around Kentucky Derby time. Even strong and robust trees can be felled by mother nature. The same is true for ice storms when the limbs are forced to carry a heavier load than they have evolved to carry.
If a homeowner is concerned that there is tree or limb that can "take the house out", it's best to get an arborist to trim or remove the tree.
When buying a house, it is wise to … (2 comments)

louisville ky: Foreclosure, Short Sale, Credit and Employment - 02/20/11 07:31 AM
Unfortunately some employers consider bad credit as a predictor of effectiveness and trustworthiness.
How Can A Short Sale Benefit You Vs. a Foreclosure?
Interviewers are asking candidates for authorization to contact the three major credit reporting bureaus. Candidates are worried bad credit will cost them their job.
Even though a short sale hurts the seller's credit, there still are differences;
In a foreclosure, the owner LOSES their house.
The benefit of a short sale: In a short sale, the owner SELLS their house by developing a solution with the lender that is more beneficial to the lender than a foreclosure.
A … (5 comments)

louisville ky: I Need To Sell My House Fast In Louisville To Avoid Foreclosure - 02/17/11 12:15 PM
Thousands of homeowners are behind on mortgage payments in Louisville KY. You are not alone. It’s a local and national epidemic.
The job market is weak. Family issues may be causing financial difficulty. House values are down, big time. You can’t sell for enough to pay off the mortgage, and you can’t afford to pay a Realtor commission, closing cost, maybe some back property taxes, homeowner association fees or other liens that attached to the house. When the money isn’t there to make the house payment, it just isn’t there. So Now What? Is There a Way Out?
Is There an … (0 comments)

louisville ky: What Should I Do? Not a Fixer Upper, Not a Gorgeous House, Sorta In-Between - 02/15/11 12:43 AM
If a house is a fixer upper it can be priced accordingly. If a house is gorgeous it can be priced accordingly. There is a market for both types. It's the in-between houses that are harder to sell.
Investors and do-it-yourself warriors love fixer uppers. Almost everyone loves a gorgeous house, especially with today's low prices.
But what about the properties that are in OK shape but need a lot of cosmetics. Nothing is really broken but the house is a little tired. There are many houses like that in Louisville KY.
Maybe needs all new carpeting. Maybe has an aging … (3 comments)

louisville ky: Can the Issuance of the 1099-c be Negotiated with the Short Sale Lender and Does It Matter? - 02/13/11 08:36 AM
Isn’t the short sale lender obligated to report canceled debt to the IRS? Isn’t the borrower obligated to report canceled debt even if they didn’t get a 1099-c?
In a short sale, the lender allows the house to sell for less than owed. The short sale acceptance letter usually specifies if the shortage is forgiven or if the lender reserves the right to pursue the borrower for the deficiency.
The vast majority of short sales I have negotiated for clients in Louisville KY result in full and final forgiveness of the shortage. The lender issues the borrower a form 1099-C. The … (1 comments)

louisville ky: Seller says: I tried loan modification, they screwed me, they had their chance and blew it - 02/09/11 10:07 PM
Borrowers are angry and bewildered by the loan modification process. Many of my short sale clients previously tried to modify their loan. They were plagued with denials, large lump sum payments, HIGHER payments instead of lower payments, and other tribulations.
Just the other day a seller who I am helping with a short sale told me “I tried a loan modification, they screwed me, they had their chance and blew it.”
Borrowers are trying to do the right thing for themselves and for the bank
A successful loan modification:
Keeps the borrower in the home Reduces the bank’s losses Helps the … (131 comments)

louisville ky: Speechless Sunday - Nature is Art and Beauty is Everywhere - 02/05/11 03:26 PM
Nature is art, all we need to do is notice and appreciate. Oh, also carry a camera and be ready to shoot.
It's almost unfair that I can take 10 seconds to capture this composition that nature placed in front of me, but an artist of first rate caliber would have to toil days or weeks to conceptualize such a dynamic design and then masterfully put it canvass.
Captured by Dave Halpern on South Floyd Street in Old Louisville, Louisville KY.
Old Louisville is in the process of gentrification.

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louisville ky: I’m Falling Behind on My Louisville House Payments – When Should I Start The Short Sale? - 01/30/11 02:54 PM
Simple answer: Start Now!
Why start now?
The longer you wait the closer you get to losing your house at the foreclosure sale.
On the other hand, a short sale enables you to sell your house with dignity, rather than lose your house. You don’t want to gamble and wait too long and have your lender deny foreclosure avoidance options because it’s too close to the auction date.
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” in short sale. … (0 comments)

louisville ky: Hanging On Too Long When Can’t Afford Payments – Avoid Foreclosure With a Short Sale in Louisville - 01/27/11 06:10 PM
 
When the house becomes a money pit liability, emotions must be set aside and the house must be liquidated in the least damaging way possible. Running up more debt or using medicine money and food money to make the mortgage payments just doesn’t work out in the long run.
Rather than let a foreclosure devastate you financially and emotionally, a short sale is usually the best option.
What is a short sale?
A short sale occurs when a house sells for an amount short of the full amount owed to the lender. Hence the word “short” in short sale.
What … (4 comments)

louisville ky: Why Many Realtors Should Refer Their Short Sale Listings To Specialists - 01/26/11 10:28 PM
If a Realtor is not a short sale specialist, he/she should refer their short sale to a local Realtor who is.
The client-centric reason: It is the responsible thing to do for the client.
The Realtor-centric reason: Someone else does the stressful heavy lifting and the referring Realtor gets paid a referral fee.
The Importance of a Short Sale on the Client's Emotional and Financial Health
We have all heard that buying or selling a house is the biggest transaction for most consumers. The importance of that transaction is eclipsed by the magnitude of a foreclosure or short sale.
The expertise … (67 comments)

louisville ky: Beautiful Landscaping with Frosty Decorative Snow Toppings - 01/15/11 05:52 AM
I had previously been to this house in Locust Creek Louisville KY before and never really noticed the landscaping. But this time, the frosty decorative snow toppings made the designs really stand out.
I could have taken more pictures, but my client arrived and my feet were freeeeezing!
Note to landscapers: When building your portfolio pictorial, come back to visit your previous work after it snows!


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louisville ky: FNMA Rejects Short Sale Offer, Spends Money Foreclosing, Then Lets House Sit. - 12/07/10 03:05 AM
Yet another sad line item in the chronicles of short sale history.
Fannie Mae turns down market value short sale offer. Fannie Mae issues an unreasonably high counteroffer, ignores appeals. Fannie Mae continues to spend money on the foreclosure process, and continues to lose money on a monthly basis. Fannie Mae eventually takes possession of the property after the foreclosure auction. Six months later the property is still owned by FNMA and is not even listed for sale. Sitting there like an old shoe. The dollar amount of additional losses incurred by FNMA since they turned down the short sale far … (10 comments)

louisville ky: Would You List a House For 90 Days to Run The Clock For a Deed-Lieu-of-Foreclosure? - 11/20/10 02:56 PM
Banks sometimes aggressively market the deed in lieu option to homeowners who are behind on payments, even though a short sale is usually a much better solution for the homeowner and for the banks themselves.
However, the banks stipulate to the homeowner that the house has to be listed for 90 days before they can execute a deed in lieu of foreclosure. A deed-in-lieu of foreclosure is sometimes called "giving the house to the bank".
As a Louisville Realtor who specializes in negotiating short sales for homeowners, I get calls from distressed borrowers who want me to list the house for … (1 comments)

louisville ky: 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)

louisville ky: 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)

louisville ky: Short Sale vs. Foreclosure. Behind on Payments in Louisville? You Have Options - 11/07/10 02:19 PM
A short sale is a dignified solution to foreclosure and has many benefits to you, the homeowner.
Foreclosure or Short Sale: Understand the Differences Underwater on your mortgage? Facing foreclosure? Avoiding foreclosure through a short sale can have many benefits for your future financial stability.
A short sale is a dignified solution to foreclosure.
There are many benefits to a short sale vs. a foreclosure, including
Credit issues Deficiency judgment issues Shorter time to qualify for a new home loan And many more... Click here for a free report on the differences between short sales and foreclosure.
If you are … (2 comments)

louisville ky: On the Edge of Losing Your Home To Foreclosure in Louisville KY? - 11/07/10 12:53 PM
On the Edge of Losing Your Home In Louisville KY? There are options available to a homeowner faced with foreclosure. When you or someone you know is pushed to the edge of foreclosure, it is vital to know that you have options. It is vital to seek the advice a Realtor who specializes in helping homeowners avoid foreclosure. Friends, family and bankruptcy attorneys may mean well, but they may not be experts in all the changing pre-foreclosure options and rules. If you're behind on payments and owe too much on your house you may think think there's no way out. We … (0 comments)

louisville ky: Think a Foreclosure Moratorium Will Save Your Home in Louisville? - 11/07/10 12:21 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
 
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