mergell: Short Sale Defined
- 02/14/10 01:35 AM
A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers. This agreement, however, does not necessarily release the borrower from the obligation to pay the … (0 comments)
mergell: Dealing with Short Sale Rejection.
- 02/14/10 01:32 AM
Buying houses by means of a short sale can be a great way to make significant amounts of money, but they're not for everyone. You have to find a seller who will work with you to persuade the lender to sell the home rather than allowing the foreclosure process to continue. Then you have to submit an offer that's low enough to make a profit, yet not so low as to be rejected altogether. If a lender does reject your offer, all isn't lost. The first thing to do is to try to determine why your offer was rejected. There are … (0 comments)
mergell: Negotiating The Deal 101
- 03/06/09 03:37 AM
Michael Mergell, Managing Broker RE/MAX Ability Plus (317) 645-8717 I guess I will start a little line about negotiating your deals. I know a lot of people out there are starting out and there are some things that you should know and learn.First is empathy, and rapport. These are essential to establishing the reason that someone will buy from you. No matter what you offer, or even if two people offer the same amount the seller is going to sell to the buyer they have a level of rapport with. The person they "like" will win every time. So let's … (0 comments)
mergell: The Flurry of Info abouth the Government's Homeowner Affordability and Stability Plan (HASP)
- 03/05/09 03:00 AM
Michael Mergell, Managing Broker RE/MAX Ability Plus-Fishers It was coming in from all sides yesterday ...... by air, by land, by sea, by attachment. I ended up with some 14 separate "documents", all pertaining to the HASP in one way or another. Executive Summaries, Fact Sheets, Remarks, Guidelines, Case Studies, Details, Elements, Blogs, Examples, Scripts, Job Aids ...... all of it good stuff. Sent out on a day when the stock market didn't tank, to boot! The HASP -- huh? The Homeowner Affordability and Stabilization Plan is one part of the ARRA (American Recovery and Stabilization Act), which President Obama … (0 comments)
mergell: SAVE HOME FROM FORECLOSURE
- 02/26/09 10:01 PM
Michael Mergell, Managing Broker RE/MAX Ability Plus-Fishers If you are behind in your mortgage payments and the home may be going to foreclosure soon, there may be a way to delay foreclosure and possible save the home. Many of the mortgages we currently have were sold. Original mortgage notes may be lost or difficult to find. I saw a news program today that indicated that one way to get some extra time is for seller to ask for the Mortgage Note. When the Mortgage Co tells you the home will go to foreclosure, ask to see the note. In some cases … (0 comments)
It is feasible to always take help from professional real estate agent to make a lucrative deal. Real estate brokers provide every kind of help to sellers as well as buyers. Without a nice real estate agent, you may never get an implausible deal. There are various ways to find the best real estate agent in your desired area. Real estate agent can be a person as well as a firm that helps you in selling/buying real estate. Checking the local bulletin boards might also provide you with various real estate agents. … (0 comments)
mergell: Be Glad Your Not in Spain
- 02/23/09 08:56 AM
One country facing a particularly dire situation is Spain. One Spanish housing association believes that unsold homes in Spain could grow to 1.5 million by the end of the year. Compare that to the estimated 1 million homes on the market at the end of 2008 - a potential 50% jump. And with about 13% unemployment, the Spanish market isn't expected to improve anytime soon.Two ways Spain is dealing with the housing crisis: Homeowners can extend their mortgages without penalty. For example, a 15 year mortgage could be expanded to a 20 year mortgage to lower monthly payments but increase the … (0 comments)
mergell: Find the Right Builder
- 02/17/09 05:19 AM
Michael Mergell, Managing Broker RE/MAX Ability Plus-Fishers Buying a new home is a major decision. Choosing a good home builder is also very important. You will want someone who is established and can be trusted, someone has the knowledge and skills in constructing a new home, someone who can manage team of craftsmen skilled at building a quality house. Do not make the largest purchase of your life, without doing your homework. If you are ready to build your dream home, you must invest the time, to learn more about the Home Builders in your area. Also, you want to find … (1 comments)
A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers. This agreement, however, does not necessarily release the borrower from the obligation to pay the … (0 comments)
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