Proof of Income and AssetsIt is best to be truthful and honest about your financial situation and disclose assets. Lenders will want to know if you have savings accounts, money market accounts, stocks or bonds, negotiable instruments, cash or other real estate or anything of tangible value. Lenders are not in the charity business and often require assurance that the debtor cannot pay back any of the debt that it is forgiving. Copies of Bank StatementsIf your bank statements reflect unaccountable deposits, large cash withdrawals or an unusual number … (0 comments)
david blair: How to do a Short Sale Part 2 of 3
- 10/26/10 03:56 AM
Why Would a Lender Accept a Short Sale? Part 2 of 3 Although all lenders have varying requirements and may demand that a borrower submit a wide array of documentation, the following steps will give you a pretty good idea of what to expect. · Call the LenderYou may need to make a half dozen phone calls before you find the person responsible for handling short sales. You do not want to talk to the "real estate short sale" or "work out" department, you want the supervisor's name, the name of the individual capable of making a decision. · Submit Letter … (0 comments)
A short sale in real estate is not always a pleasant transaction. There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale." When lenders agree to do a short sale in real estate, it means the lender … (1 comments)
Phase 5: Real-estate owned (REO): If the property is not sold during the public auction, the lender will become the owner and will attempt to sell the property on its own, through a broker or with the assistance of an REO asset manager. These properties are often referred to as "bank-owned." The lender may remove some of the liens and other expenses in an attempt to make the property more attractive.
Phase 6: Eviction: The borrower can often … (0 comments)
Many people have either gone through foreclosure; a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership of the property, or know someone who has. RealtyTrac released its U.S. Foreclosure Market Report on April 15 for the first quarter of 2010. The report calculates foreclosure filings, including default notices, scheduled auctions and bank repossessions, and showed that 932,234 properties were involved in the first quarter. That was a 7% increase … (0 comments)
david blair: Ten Actions ALL Parents Can Take to Help Eliminate Bullying Part 1 of 2
- 10/05/10 03:53 AM
The latest research shows that more than half of all children are, at least on occasion, directly involved in bullying as a perpetrator, victim, or both. And many of those who are not directly involved witness others being bullied on a regular basis. No child is immune - kids of every race, gender, grade and socio-economic sector are impacted. But it doesn't have to be this way. As parents we have the power to help reduce bullying. Here are Education.com's top ten actions you can take to help address bullying: 1. Talk with and listen to your kids - everyday.Research shows … (1 comments)
david blair: What is Bullying?
- 09/30/10 01:20 AM
· Bullying is an intentional act. The child who bullies wants to harm the victim; it is no accident. · Bullying involves repeated occurrences. Bullying is not generally considered a random act nor a single incident. Rather, a child is repeatedly picked on by another child or is the target of harassment from a whole group of children. It is the repeated nature of bullying that causes anxiety and apprehension in victims, such that the anticipation of bullying becomes as problematic as the bullying itself. · Bullying is characterized by a power difference; an unfair fight where the child who bullies … (3 comments)
Playground disputes and disappointing grades - and learning to deal with them - are important parts of growing up. Before you intervene on your child's behalf, think about what response is appropriate for his maturity level and developmental stage. Talking with young children: Younger children, especially those in kindergarten through third grade, will need help thinking about how to respond to problems at school. You can help your child learn problem-solving skills by talking about potential responses and what results they may bring. Help your child decide the best … (1 comments)
What should you do when your daughter announces that she hates school or when your son says he can't stand the kids in his class? Even for children prone to melodrama, these kinds of statements may signal that a child is having academic or social problems at school. It's important to get to the root of the problem, Steinberg says, and that will take patience and understanding. When your daughter says, "I hate school," it could mean she is bored in class, doesn't understand new material, is being pushed too hard, or doesn't … (0 comments)
First, think about the time of day and the kind of questions you ask. Whether your child is a chatty first-grader or a tight lipped teenager, he may not want to talk about a tough math test as soon as he gets home from school. And questions like "How was school?" are bound to elicit uninformative answers like "Fine." Experts recommend taking a few minutes to reconnect as a family after the busy day before addressing school and household issues. Let your kids know you're glad to … (0 comments)
david blair: Five Ways to Help Your Child with Test Stress
- 09/14/10 03:05 AM
Does your child get stressed out before a test? Follow this checklist to ease worries about standardized tests. In many states children start taking standardized tests as early as first grade. With the help of the following tips, you can ease your child's anxieties about the test process: Get the facts. Find out the exact dates your child will be tested and which tests he will take this year. Check to see if the tests will be different in any way from the ones he took the year before. Once you know what's happening, you can help your child feel ready … (2 comments)
Knowing how to contact the right person at your child's school can make you a more effective advocate. Knowing who does what in your child's school and figuring out the best ways to communicate with school staff can help you to be effective in supporting your child's success. It used to be that parents called the school secretary or PTA president for basic information about what was going on at the school. While the school secretary still provides important information many schools now have additional ways of communicating with parents. For instance, a … (0 comments)
david blair: Repeat Buyers & Investors With Cash-Boosting Home Sales & Prices In Many Markets
- 09/07/10 04:16 AM
For the first time in nearly three years, repeat buyers and investors have overtaken first-time buyers as sales leaders once again in the nation's housing market. As a result, prices of bank-owned REOs and properties involved in short sales are being bid up by multiple offers and cash buyers in many neighborhoods, according to the latest HouseHunt quarterly current market conditions survey.
•· "The current ratio of 58% to 42% favors repeat buyers," said Michael Bearden, president and CEO of HouseHunt, Inc. "This is an increase of 10 percentage points over a year ago and 24 points over six months … (1 comments)
david blair: Few of the Many Fun Things Going on in St. Augustine for Labor Day
- 09/02/10 04:19 AM
Saturday in the Park Music FestSaturday September 04 2010 12:00 PM - 9:00 PM Event Type: Music Come spend a Saturday in the park listening to live music, enjoying art exhibits, tasting beer & wines, viewing vintage cars - there's even a special kids zone. It all takes place from noon to 9 p.m. at Francis Field, located behind the Historic Downtown Parking Facility on Castillo Drive in St. Augustine. Admission is $3, children under 5 free. For more information, contact the Music & Arts Foundation of St. Augustine at 904.814.8010. St. Augustine Birthday CelebrationSaturday September 04 2010 Event Type: Community … (0 comments)
david blair: Guide to Settlement and Escrow Part 4 of 4
- 08/31/10 03:16 AM
Step Four: Get the Cost Breakdown In outlining the total cost of the transaction (including required surveys, inspections, lender fees, taxes, attorney fees and closing costs), a HUD-1 or final closing document (depending on the state the purchase is taking place in) breaks down how much each player gets out of the transaction. Drawn up shortly after the buyer gets a loan, the HUD-1 acts as a guide to paying for a new piece of property and will include an estimate of how much the buyer can expect to fork over in closing costs. Vettner warns that the final closing statement … (0 comments)
With an earnest money deposit in place and the property officially off the market, the next step is to have a third party verify that both buyer and seller are meeting all their respective requirements. To ensure that the property is legally available, the agency handling the escrow, usually the title insurance company, organizes any necessary paperwork.
This involves verifying the state of the property (including surveys, deeds and inspections) and checking to ensure that no outside organizations have issued a lien against the property, claiming it as collateral against an outstanding debt on … (0 comments)
Joshua Livingston, director of national sales for American Title Inc., in Omaha, Neb., adds that during the closing process, the buyer transfers some money - anywhere from $500 to several thousand into a third-party escrow account. This part of the closing costs, commonly referred to as an "earnest money" deposit, ensures that the seller will take the property off the market as the property closing goes through. "That money can be refunded if the sale doesn't go through," says Livingston. "It's pending on certain requirements that the seller … (0 comments)
How your closing works and what your closing costs depends on what you're buying, the conditions of your purchase and what state you're buying in, says Alan J. Perlowitz, an attorney and managing partner with Chaves & Perlowitz LLP, a law firm that specializes in lender representation cases in New York City.
"When it comes to closing real estate transactions, there are a lot of moving parts that are contingent on what and where you're buying," he says. "The process is basically the same, … (1 comments)
david blair: Documents and Fees you Should Expect at Closing
- 08/12/10 04:42 AM
• Bank note: If you're closing on a house or condo it's called a mortgage. If it's for a co-op it's called a security agreement. The security agreement or mortgage "puts teeth into the note." A note is a piece of paper that says I borrowed the money and I will promise to pay it back. The security agreement or mortgage says what the bank will do if you don't pay it back. • Transfer documents: For a co-op, those are co-op documents, which are a proprietary lease. For a condo, the unit condo power of attorney gives the condominium limited … (0 comments)
Why Would a Lender Accept a Short Sale?
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