lakeland fl short sales: Top 3 Tips for Negotiating a Lakeland Fl Short Sale with Buyers - 04/08/14 06:41 AM
Top 3 Tips for Negotiating a Lakeland Fl Short Sale with Buyers
Ideally, a buyer and a seller would both like to get a good deal from a Lakeland Fl short sale. The buyer wants to get a bargain price while the seller wants to walk away from the home with as little deficiency balance on their mortgage as possible.
As a Lakeland Fl short sale seller, the best thing to do in handling negotiations for short sales is to step back and let your Lakeland Fl short sale agent take the lead in negotiating for you - while still … (2 comments)

lakeland fl short sales: WHAT IF - THE MORTGAGE DEBT RELIEF ACT DOES NOT GET RENEWED? - 03/24/14 09:38 AM

Attention Lakeland Fl homeowners who are thinking about short sales.  This is a must read! Explanations of your "what if" possibilities should the mortgage debt relief act not be renewed. 
The Mortgage Debt Relief Act of 2007 has saved countless taxpayers from devastating IRS tax bills for "forgiven debt" resulting from lenders forgiveness of deficiencies from foreclosures, deeds in lieu of foreclosure and short sales.  But the Act has expired for any transactions that closed (or occurred) beginning January 1, 2014.  So now what can a financially distressed taxpayer do when addressing a foreclosure, deed in lieu of foreclosure or short … (3 comments)

lakeland fl short sales: 3 Strategies For a Successful Lakeland Fl Short Sale - 02/25/14 11:08 PM
3 Strategies For a Successful Lakeland Fl Short Sale
 
The success of a Lakeland Fl short sale largely depends on all the parties working together, and not just the seller or the Lakeland Fl agent.
 
Here are 3 strategies that the seller, buyer, and short sale agent could use to reach a successful short sale in Lakeland Fl:
 
1. Sellers: Work with your Lender.
 
Every lender will have their own set of guidelines in reviewing short sales and this could take several weeks to months. Lenders require sellers to prove that they cannot continue to make their … (1 comments)

lakeland fl short sales: How Can I Have A Successful Lakeland Fl Short Sale? - 11/23/13 01:13 AM
How Can I Have A Successful Lakeland Fl Short Sale?
“How can I have a successful Lakeland Fl short sale?” This is what most short sale sellers ask all the time.
Here are some basic tips to a successful Lakeland Fl short sale.
 
1. Accept only realistic offers for your Lakeland Fl short sale.
If you submit a lowball offer, your lender will most likely reject the offer, since they are already losing money when they approved to sell your home as a short sale in Lakeland, Florida. Lenders weigh the cost of a foreclosure against short sales. If … (3 comments)

lakeland fl short sales: How To Avoid 5 Common Problems in Financing A Lakeland Fl Short Sale - 10/16/13 04:11 AM
How To Avoid 5 Common Problems in Financing A Lakeland Fl Short Sale  
As if the Lakeland Fl short sale process is not difficult enough, getting financing for a Lakeland Fl short sale is equally as challenging.  
The type of financing a buyer uses for a Lakeland Fl short sales has a big impact on the transaction for several reasons.
 
Not all types of financing is applicable for a short sale. If you get the wrong kind of loan, you might not be able to close the Lakeland Fl short sale transaction due to problems with financing, … (3 comments)

lakeland fl short sales: How Lakeland Fl Short Sale Agents Can Connect with Sellers - 07/16/13 11:18 AM
How Lakeland Fl Short Sale Agents Can Connect with Sellers Most real estate agents working with foreclosures and short sales have a tendency to become desensitized to their client’s situations. After hearing hardship stories so many times in week, like loss of a job,  divorce, or a failed loan modification, it is quite normal to develop to some kind of immunity to these situations just so you won’t absorb the client’s stress.
But in order to be a better short sale agent, we need to connect with our clients at an emotional level by trying to understand them and being sympathetic, … (6 comments)

lakeland fl short sales: Considering Credit Repair After a Lakeland Fl Short Sale - 05/15/13 10:29 PM
Considering Credit Repair After a Lakeland Fl Short Sale
With the increasing number of short sales closing in Lakeland Fl in the past years, there is also a great backlog of homeowners who used to have great credit standing but now have to deal with poor credit scores due to incorrect reporting on their credit by the lenders.
Some homebuyers who want to repair their below-than-average credit scores turn to credit repair companies for help to make it easier and faster.
Choosing a good credit repair company can be a sound financial decision on your part since they can … (0 comments)

lakeland fl short sales: Getting a Home Loan After A Lakeland Fl Short Sale - 05/12/13 10:19 PM
Getting a Home Loan After A Lakeland Fl Short Sale
With today’s strict lending policies, many homeowners think it would be almost impossible to qualify for a home loan after a Lakeland Fl short sale.
If you dream of buying a new Lakeland Fl home but have just went through a short sale, you don’t need to worry. There’s light at the end of the tunnel since homeowners who have gone through a short sale can still qualify for another mortgage.
Getting a second mortgage loan after a short sale doesn’t happen overnight though. There are two things a homeowner needs if he or she wants … (0 comments)

lakeland fl short sales: Good News For Lakeland FL Short Sales this 2013 - 03/20/13 10:55 AM
Good News For Lakeland FL Short Sales this 2013  
Short sellers and distressed owners of Lakeland Fl homes and throughout this country now can breathe a sigh of relief with the extended  The Mortgage Forgiveness Debt Relief Act and Debt Cancellation. As part of the Fiscal Cliff Bill, the congress has made this act available to homeowners until January 1, 2014 from its original expiry in December 31, 2012.
 
Just recently, being a Lakeland Florida Short sale agent, I experienced my sellers excitement because of extension of the Mortgage Debt Relief Act being extended. Without this act, homeowners who … (3 comments)

lakeland fl short sales: Why Do Lakeland Fl Short Sales Fall Through On The Buyer’s Side? - 03/12/13 02:56 AM
Why Do Lakeland Fl Short Sales Fall Through On The Buyer’s Side?
 
As an experienced short sale agent helping homeowners with their short sale in the Lakeland Florida area, I sit down with the homeowners not only go through every step of the short sale transaction, I also explain and raise awareness why buyers choose to cancel the contracts and walk away from short sale. While the number one reason is that a short sale takes a long time, here are a few more reasons why Lakeland Fl short sales fall through on the buyer's side:
1. The buyer is … (3 comments)

lakeland fl short sales: 5 Tips To Boost Your Confidence in Short Sales - 11/26/12 12:55 AM
5 Tips To Boost Your Confidence in Short Sales
 
It was only a few years ago that I started as a Lakeland FL short sale agent helping sellers in financial distress to short sale their home. My confidence level as a real estate agent negotiating short sales was not the greatest as I always heard of the horror stories from other agents, however I did and still do a lot of research and studied what short sale information is available to us.  

I don't foresee that short sales will go away anytime soon and as the real estate … (8 comments)

lakeland fl short sales: Lakeland FL Short Sales - Successful Closing - Carrington Mortgage Servicers - 11/13/12 08:19 PM
Lakeland FL Short Sales - Successful Closing - Carrington Mortgage Servicers
Lakeland FL short sale agent Petra Norris with CDV Transatlantic, Inc. had another successful short sale closing.
Carrington Mortgage Servicer agreed to a full waiver of deficiency with no additional funds/promissory note the seller had to bring to the table.  Seller also received relocation assistance of $3000.00
Hardship – Curtailment of Income
Property: 3 bedrooms/ 2 baths – 1559 sq.ft. heated built in 1995
Listing price $120,000
Mortgage: $205,000
Sold Price: $115,000
From listing to closing – 73 days
Lakeland FL Homes for Sale - Short Sale
 
I … (7 comments)

lakeland fl short sales: Lakeland Florida Short Sale Agents - Frequently Asked Questions Answered - 10/25/12 01:35 PM
Lakeland Florida Short Sale Agents - Frequently Asked Questions Answered
Home owners in Lakeland FL who are financially unable to continue to pay their mortgage are always looking for answers with respect to short sales. Sellers and buyers even after about 5 years of short sales are still not sure exactly what a short sale is.
Let me help you with this question and other frequently asked questions:
1. What is a Short Sale?
Short Sale is defined as follows: The lender agrees to accept a payoff for less than the balance of the mortgage to allow the sale of the property.
2. … (5 comments)

lakeland fl short sales: Ocwen Short Sale Success – Lakeland FL Investment Property - 10/11/12 11:57 PM
Ocwen Short Sale Success – Lakeland FL Investment Property
  Lakeland FL Seller thank you card after a successful short sale with Ocwen
Lakeland FL Short Sale closed with Ocwen successfully.  Investor owned a rental, which he bought in October 2005 for $150,900. About a year ago, he lost the tenant who left the place with a big mess.  Investor said that he needed to short short sale the property since they could not afford the property any longer due to loss of rents, decline in property value and their personal finances.  Long story short, I put the property on the … (3 comments)

lakeland fl short sales: Lakeland FL Short Sales - Who Pays The Commission? - 10/02/12 12:35 PM
Lakeland FL Short Sales - Who Pays The Commission?
Who pays the real estate commission for a short sale is one of the most frequently asked question sellers have when listing their Lakeland FL home as a short sale.  The correct answer to this question is: The Seller   The listing agreement is and will always be between the property owner and the brokerage firm.  The seller's lender is not the owner of your Lakeland Florida home and therefore they don't have the title of your home.  Florida is a judicial state and title remains with owner until the lender takes title through … (4 comments)

lakeland fl short sales: Lakeland FL - How Long Does A Short Sale Take? - 09/06/12 12:53 PM
Lakeland FL - How Long Does A Short Sale Take?
Just recently when I took a short sale listing in Lakeland FL, I was asked by the sellers, in fact I am always asked about the timeline of a short sale. So my reply to this question: how long does a short sale take, will  always be, that if I had a crystal ball I would tell you as every short sale I have represented sellers and buyers took different times.
Certainly there is always a sense of urgency from the sellers, especially when the foreclosure clock is ticking.  A short … (5 comments)

lakeland fl short sales: Lakeland FL Short Sales – Can I Be Current On My Mortgage Payment? - 08/23/12 12:30 PM
Lakeland FL Short Sales – Can I Be Current On My Mortgage Payment?
Lakeland Fl short sales – Mortgage Payments
Homeowners have been told by the government to stop making their mortgage payments and Fannie Mae and Freddie Mac who are regulated by the Fed required you to be late on your mortgage payment when selling your Lakeland Fl home as a short sale.
This question came up numerous times at phone conversations and listing appointments with homeowners telling me that they want to do the right thing and stay current but have been told by servicers for Fannie Mae and Freddie … (12 comments)

lakeland fl short sales: More Work Goes Into Lakeland FL Short Sales Before and During The Process - 08/13/12 01:32 PM
More Work Goes Into Lakeland FL Short Sales Before and During The Process
When a homeowner calls who is underwater and behind on their mortgage we ask to talk about their situation to see if they are a good short sale candidate. Explain how the short sale process works and make sure they understand.  We send them a Short Sale Pre-Qualification Questionnaire and a financial form that is required to be filled out prior to setting up an appointment.  I also make clear that before I list the home I must have all pertinent documentation (short sale package) prior to listing … (9 comments)

lakeland fl short sales: Lakeland Fl Homes for Sale | 105 Lake Gibson Lane Lakeland FL | Short Sale - 08/01/12 12:45 PM
Lakeland Fl Homes for Sale | 105 Lake Gibson Lane Lakeland FL | Short Sale
Great Lakeland Fl home for Sale in the North Lakeland area near Lake Gibson. Home located on corner lot that is fenced close to schools, shopping, entertainment and much more.
When traveling west on Interstate 4 you want to take exit 33 – this is the first entrance to North Lakeland, where you will be greeted by the breathtaking view of Lake Gibson covering almost 490 acres. Public access to the lake is on the southeast shore of the lake, which is great for boating and other water activities. North … (5 comments)

lakeland fl short sales: What Happens to Your Credit Score After a Lakeland FL Short Sale? - 07/23/12 10:29 PM
What Happens to Your Credit Score After a Lakeland FL Short Sale?
In one of my recent appointments of listing a Lakeland Fl short sale, the seller asked me what impact does a short sale have on my credit score? Here are my thoughts and opinion about credit score impact when doing a short sale.  Before applying for a Lakeland FL short sale for your home, it is very important that you enter into this with your eyes wide open. Forget about real estate agents who have told you that short sales won’t have any impact on your credit score. Of course it does, but the … (33 comments)

 
Petra Norris, Realtor, Lakeland FL Homes for Sale (Lakeland Real Estate Group, Inc.) Rainmaker large

Petra Norris

Realtor, Lakeland FL Homes for Sale

Lakeland, FL

More about me…

Lakeland Real Estate Group, Inc.

Address: PO Box 92050, Lakeland, FL, 33804-2050

Office: (863) 619-6918

Mobile: (863) 712-4207

Email Me

Connect with me on How Much is Your Home Worth? Lakeland Real Estate Today on Facebook Lakeland Real Estate Today on Facebook Visit Short Sale Superstars
Follow this blog


Listings

Links

Archives

RSS 2.0 Feed for this blog