ct short sales: 6th time a charm with this West Haven, CT Bank of America short sale!
- 05/17/12 12:36 PM
Yup. You read that correctly. Murphy's Law was in full effect on this deal. 10 months of pain has come to a successful conclusion. Persistence is key when it comes to short sales. This particular home needed some work, but was still in fair condition. We had out first contract after 3 weeks on the market. 203k financing, close to a full price offer, and Bank of America wouldn't even look at it. The BOA negotiator and his supervisor both stated the do not accept 203k financing on short sale offers, and declined the file out of the system. That was … (2 comments)
This particular client had already had a loan modification ( a HUD partial claim ). As has been my experience with most loan modifications, it is often too little too late. The great " favor " and " modification " for this particular client was for Midland mortgage to file a partial mortgage insurance claim to bring the borrower current. What does this do? It takes all the money that the borrower was behind and tacks it onto the end of the … (1 comments)
ct short sales: The best short sale representation in Connecticut!
- 09/30/11 03:55 AM
Patrick James and Minna Reid are pleased to announce a new joint venture, CT Short Sale Team, a new division of CG Real Estate! The new venture will provide the best short sale representation for Connecticut property owners, and the service area will be the entire state of Connecticut. www.ctshortsaleteam.com or 877-SELLMYHOUSE! … (0 comments)
Bet you didn't know this? Dumbfounded today, after getting word that the bpo on one of my listings came back 50k over the list price, I decided to do a little research. I had the feeling that this was the case, but needed to confirm it.
After speaking with a few attorneys, and they in turn having conversations with various local boards of Realtors, it is in fact illegal for agents to perform a bpo, in the state of CT, when it comes to determining value of a short sale. Directly from the current CE cycle Law update, which … (0 comments)
ct short sales: 3 lien short sale SUCCESS in the Gales Ferry section of Ledyard, with Bank of America, Navy Federal, and Household finance.
- 08/30/11 07:40 AM
$238,000 in debt FORGIVEN, with no cash contribution from seller at closing!!! When I first met my clients ( I'll call them Mr. and Mrs. C, to protect their identity), my heart tore for them. Several hardship situations had left them unable to make a payment to any of their lenders for 2 years. That's not a typo. My clients had gone for 2 years with no payment to Bank of America, AND THERE WAS NOT EVEN A LIS PENDENS FILED! I find this to be the case with Bank of America more and more. While most lenders will file right … (1 comments)
ct short sales: Connecticut short sales--- Is your short sale agent breaking the law?
- 05/10/11 09:03 AM
Does your short sale agent " have a guy " that handles the negotiations with your lender? If so, there's a pretty good chance " the guy " and your agent are both breaking Connecticut law. Under Connecticut law, in order to negotiate a short sale for a fee, the individual must hold a debt negotiation license with the state of Connecticut. From the States Department of Banking website: ------------------------------------------------------------------------------------------------------------------- Licensed Debt Negotiators, for a fee, offer the services of assisting a consumer faced with significant debt or negotiating on behalf of a consumer, the terms of a consumer's obligation to a … (1 comments)
ct short sales: Just sign here and don't worry about a thing? - Not so fast. Choose your short sale agent wisely.
- 04/14/11 05:44 AM
I had a new phone consultation yesterday, and the client said " Patrick, you've given me more information in these last 10 minutes than the other 2 short sale "experts" did in an hour! They just wanted me to sign a listing agreement when they couldn't answer any of my questions!" Short sales are not simple transactions, and you really need someone on your side that knows what they are doing. Here's what to look for when choosing your short sale agent.
Is the agent you are interviewing asking the right questions? Are you behind, and if so, how far … (2 comments)
ct short sales: Commonly asked questions about short sales in Connecticut
- 04/12/11 12:48 PM
Why did I choose to specialize in short sales? I like sticking up for the person that can not stick up for themselves. The clients that have tried and tried everything to keep their house only to be denied and struck down by their lender like they are just another number. It is very satisfying for me to be able to come through for and be the voice for the average Joe or average Jane that they need and deserve. Connecticut Short Sales can be difficult to complete and quite confusing for buyers and sellers. To help you to better understand the Short Sale … (2 comments)
If you are looking for a real estate professional to handle the short sale of your home look no further. I met Patrick upon my return to CT during ... more
5.0/5.0
by John K in Texas
69265
Short Sales can be a very rewarding, and at the same time, very frustrating experience. The process can be fraught with all kinds of uncertainty and ... more
5.0/5.0
by cgbassell
69051
We had spoken to another Realtor prior to signing with Patrick. The other Realtor basically thought we should list or house for well below market ... more
Yup. You read that correctly. Murphy's Law was in full effect on this deal. 10 months of pain has come to a successful conclusion. Persistence is key when it comes to short sales.
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