bellevue real estate news: Thinking About A Strategic Default in Bellevue? Take These Steps First To Avoid Problems - 03/29/13 06:15 AM
Bellevue WA – Yesterday, we told you about a new program that Fair Isaac, the founder of the FICO score, came out with to tracks strategic defaults.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
If you are thinking about a strategic default, then you must be aware of this. FICO claims to be able to notify a lender when someone has strategically defaulted, or looks ready to strategically default.
This helps lenders implement additional collection procedures to get you to repay their loss. I spoke with an expert in the industry. I wanted to … (0 comments)

bellevue real estate news: Thinking About A Strategic Default in Bellevue? Consider A Different Alternative - 03/28/13 04:56 AM
Bellevue WA – Banks must hate Strategic Defaults. A person who walks away from hundreds of thousands of dollars in debt gets on their nerves.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
It must bug them so bad that Fair Isaac, the founder of the FICO score, came out with a program that tracks strategic defaults. Here is the story according to Inman News:
“Article Title: FICO to walkaways: You’re on our screen
Fair Isaac, developer of the ubiquitous FICO score, has a new warning for homeowners plotting a strategic default or walk … (0 comments)

bellevue real estate news: Bellevue Short Sales: How To Tell If A Debt Collector Is Breaking The Law - 03/27/13 09:21 AM
Bellevue WA – I’ve heard of debt collectors contacting people’s family and relatives trying to reach them for “an important business matter.”
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
When they tell the relative their business name, then it becomes obvious what is happening. They do this as an attempt to embarrass a debtor into paying them.
Here is what most debtors do not know. This is actually a violation of a Federal Law called The Fair Debt Collection Practices Act, provided the debt collector has your information already.
I have seen this happen … (0 comments)

bellevue real estate news: Bellevue Short Sales: How To Negotiate So You Can Short Sale With No Deficiency - 03/15/13 03:13 AM
Bellevue WA – If your loan has Private Mortgage Insurance, also known as PMI, then there is a high likelihood that they will request that you sign a promissory note.
Today’s blog post talks about how to convince the lender to waive it.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
PMI companies are notorious for asking for promissory notes. The reason they ask for them so much is because there is no risk in doing so.
If the home is foreclosed upon, then they will have to pay a claim for the loss. … (0 comments)

bellevue real estate news: Bellevue Short Sales: Even Billionaires Are Facing Foreclosure - 03/06/13 03:48 AM
Bellevue WA – This is good news or bad news, depending on how you look at it. Here is the good news.
If you are a little guy having financial problems, then you are not alone. Even Billionaires are being foreclosed on.
One billionaire real estate developer in Florida had several projects foreclosed on. Another very well known real estate developer is having to re-negotiate mortgages on his investment properties.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Even a woman who was married to a man who was the richest man in the … (0 comments)

bellevue real estate news: A Common Bellevue Short Sale Myth: I Can't Short Sell My Home Because I Don't Have Any Money To Pay The Realtor - 06/19/12 06:46 AM
Bellevue WA – Most of the short sale sellers that we help are selling this home because of financial problems. They can't afford the payments and sell their home to avoid foreclosure.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Because of this I am very familiar with helping my customers who have financial problems. Many of them are struggling to buy groceries, keep the power turned on, and pay for gas to get to work.
They are struggling to pay for the necessities just to survive and feed their family. In most cases … (0 comments)

bellevue real estate news: Realtors applaud bill to speed lender response - 04/28/11 06:35 AM
A new bill to improve the process for approving short sales may soon bring relief to distressed homeowners who are unable to keep their homes and hope to avoid foreclosure. The bill, introduced in the U.S. House recently and strongly supported by the National Association of Realtors, would impose a deadline of 45 days on lenders to respond to short sale requests.
The legislation, the "Prompt Decision for Qualification for Short Sale Act of 2011," was offered in Congress by U.S. Reps. Tom Rooney (R-Fla.) and Robert Andrews (D-N.J.).
"The current short sale process can be time-consuming and inefficient, click here for … (3 comments)

bellevue real estate news: Short Selling Can Help You PreventForeclosure - 04/12/11 01:13 AM
Short Selling Can Help You PreventForeclosure It was in the latter 2000’s when the world suffered worldwide downturn.  There’s truly no precise and exact measurement one can utilize to classify an economy to be in recession, but then again, everyone felt the meltdown.  What followed were a lot of belt tightening and a lot of finger pointing in the private area and the government of every country.  The greatest minds were looking for options and politicians are rallying behind industrial reforms. Some preventive actions have came up, but there are no distinct solutions to hand. Due to the depression, click here … (0 comments)

bellevue real estate news: It's a good idea to buy a foreclosure. Here's how - 04/07/11 11:44 AM

(MONEY Magazine) Shopping for a new home on Long Island after the birth of their daughter, Chris and Diane Moore fell in love with a 1920s Mediterranean-style home with a storied history.
Built by Columbia Pictures to house visiting stars like Charlie Chaplin, the five-bedroom home in Baldwin, N.Y., has a bell system for servants and a sweeping indoor balcony.
The home was sold as a short sale, in which a lender must agree to accept less than what's owed on a property. And as often happens with such deals, the buying process soon turned into a horror show: 
For complete … (0 comments)

bellevue real estate news: Foreclosure... The American Family Silent Killer - 04/04/11 01:54 PM

Foreclosure…The Silent Killer One Family’s Sad Story……
 Do you know a victim of foreclosure. They are in good company, I know. They are in a steadily growing group of people who are silently being torn apart. Maybe not to the naked eye, and maybe unbeknown to the one who was foreclosed on, but the ramifications of losing one’s home is wrecking havoc in the lives and families of many Americans, and I dare say families across the entire world.
Click Here For Full Story...
 
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bellevue real estate news: Short Sale Q&A - 04/04/11 03:53 AM
 
Short Sale Q&A Short Sale Questions answered

I have composed of the most frequent question I am asked from homeowners who areconsidering a short sale. Here are the top five  Short Sale questions I am asked often.
Common Short Sale Questions
 
(0 comments)

bellevue real estate news: Proposed settlement would force banks to allow short sales for delinquent homeowners - 03/30/11 02:43 PM
Proposed settlement would force banks to allow short sales for delinquent homeowners
Major banks may be forced to let severely delinquent homeowners sell their houses for less than the loan amounts owed as part of a broad settlement of federal and state investigations into botched foreclosure paperwork, according to government officials involved in the negotiations.
The requirement to allow so-called short sales would be in addition to forcing mortgage servicers to reduce the amount some homeowners owe on their loans, said two officials, who spoke on the condition of anonymity because negotiations are ongoing.
The goal of short sales would … (2 comments)

bellevue real estate news: Accepting a Short Sale Over a Foreclosure Might Save Your Financial Future - 03/28/11 04:03 AM
http://washortsale.info/?p=303

Accepting a Short Sale Over a Foreclosure Might Save Your Financial Future Losing your home due to the inability to meet the monthly payment obligations is perhaps the worst financial situation you could ever find yourself facing. In fact, a foreclosure puts a huge blemish on your credit report, where improving it could take years. Moreover, a mortgage lender may file a legal case against you as part of the foreclosure action. All this would then hinder your ability to obtain any kind of credit, leaving you completely helpless.
Consider a Short Sale as a Better Credit Position
The … (0 comments)

bellevue real estate news: Fixing your FICO score is key to restoring your good credit - 03/06/11 01:28 AM
 
http://washortsale.info/2011/03/fixing-your-fico-score-is-key-to-restoring-your-good-credit/
 
Fixing your FICO score is key to restoring your good credit
Millions of consumers have fallen out of favor with the credit scoring gods.
Some lost their jobs or were just overwhelmed by mounting debt. Others got caught up in the real estate bubble or had major medical bills. Whatever the reason, the rising number of foreclosures, short sales, late credit card payments and the ultimate credit sin — bankruptcies — have left black marks on credit reports most everywhere.
So what can these people do to repair their credit?
The simple answer is to focus on the … (1 comments)

 
Paul Nelson, Paul Nelson (Homes Northwest)

Paul Nelson

Paul Nelson

Bellevue, WA

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Address: 800 Bellevue Way NE, Suite 400, Bellevue, Washington, 98004

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