illinois short sales: Short Sales Important Update for 2012
- 01/25/12 08:52 AM
Short Sales Important Update: The Mortgage Debt Relief Act of 2007 will expire at the end of 2012. What this means is that Short sale sellers will be getting sent a 1099 for their shortages starting Jan 1, 2013 if this bill is not extended. Considering some short sales take a year to close, I'd get it listed NOW if you are thinking about short selling! … (2 comments)
illinois short sales: From Real Estate Rags to Reinventing Your Riches
- 01/16/09 03:50 AM
I actually had my office space up for sale in December of 2007. I was struggling, I let go of my bookkeeper, kept cutting my secretaries hours and was getting more worried every week watching a lot of local offices, R/Max closed several local offices, GMAC folded their offices, Prudential closed offices, C21 offices, you name it they were closing offices. Even a few of my fellow Exit offices closed. I figured I was doomed because I received NO calls on the office for sale so I knew I needed to at least try something different to survive. I'm NOT a … (2 comments)
Pre-qualify your short sales clients over the phone before you make the trip to insure they are indeed a good short sale candidate. Here's what I ask...
1. Do you understand what a Short Sale is? Explain the process 2. Are you late or will soon be late on your mortgage payment? 3. What has caused the Hardship? Divorce Illness Job Loss Relocation Medical Bills Adjustable Rate Mortgage payments increased and you're unable to refinance Death. 4. Are you insolvent? (Meaning do your debts outweigh your assets?)
5. Do you have money in a … (3 comments)
illinois short sales: Pre-foreclosures are on the rise in Chicagoland!
- 12/16/08 12:10 AM
Looking for a good deal? Now is the time to buy! Foreclosures are on the rise and the rates are at 5.5% for a 30 year fixed with good credit. So come on buyers, get off the fence! Vicki Watzlawick, Illinois Foreclosure Expert, Broker Owner, Exit Platinum Realty, LITH, IL www.vickisdreamhomes.com … (0 comments)
illinois short sales: My Short Sale secret interview July 11th at 11:30
- 07/11/08 02:17 AM
I am soooo excited! I guess I've been doing so well at learning how to sell Short Sales succesfully that the Harris Real Estate University is going to call and interview me this morning at 11:30 Central time! If you want in on this free call and to learn some of my secrets use this link: Vickis Short Sales Secrets If you have questions, I think there might be time to ask them at the end of the call. Don't be shy, I am willing to share my knowledge to help all of you! Vicki Watzlawick, Broker Owner, CERTIFIED Short Sale Expert, … (0 comments)
illinois short sales: Illinois foreclosures still way up!
- 07/11/08 01:13 AM
FRONT PAGE OF THE DAILY HERALD! Significantly more Chicago area households received some type of foreclosure notice this June than last, suggesting the local foreclosure problem stands to get worse before it gets better. June foreclosure filings - including default notices, auction sale notices and bank repossessions - increased by 76 percent in Lake County, 53 percent in Cook County, 36 percent in McHenry County, 31 percent in Kane County and 30 percent in DuPage County compared with the same month a year earlier, according to statistics from RealtyTrac Inc. Statewide, June foreclosure filings increased by 42 percent over the previous … (0 comments)
illinois short sales: Agents Listing A Short Sale On Their Own Home
- 07/10/08 01:23 AM
Agents Beware! The lender can take 100% of your commission and apply it to what's owed the lender if they catch you being the agent of your own Short Sale. Think about it. As the Seller you are not allowed to profit anything from a Short Sale, so why wouldn't the lender take the commissions if they were going to you? You are asking them to forgive tens of thousands of dollars in debt and you want to try and walk away with a few thousand of that? In my office, listing your own Short Sale is NOT allowed! Agents are too emotionally attached to … (9 comments)
illinois short sales: PMI Short Sale question
- 06/16/08 12:02 PM
Question for all of you Short Sale Experts I pride myself on my 100% of my short sales have closed reputation. But today I got a new closing condition thrown at me! Citi Mortgage wants my seller to pay the PMI Company $13,000. We agreed and went back and found another buyer that was willing to come up the $13,000 they were looking for, so i submitted the new HUD to the lender and on the PMI line I put the $13,000. Citi Mortgage emails me back this: "I will send you the approval letter and note and just follow the terms of … (10 comments)
illinois short sales: Shocking Chicago Illinois Foreclosure Numbers
- 04/27/08 04:07 AM
Home owners, if you think you are alone..think again! Here is a startling report I put together this morning. I thought it would be a good idea to update this every month so we can watch the trends and hopefully realize when this cycle will come to an end. (Which by the way I don't think will be for at least another year) but that's just my opinion. Brokers and agents....WAKE UP!! Get with the times..I am sooooo tired of hearing agents tell me they are taking jobs at Starbucks or Lowes, etc because they can't survive in this market. OMG..look at the number of … (16 comments)
Short Sales Important Update: The Mortgage Debt Relief Act of 2007 will expire at the end of 2012. What this means is that Short sale sellers will be getting sent a 1099 for their shortages starting Jan 1, 2013 if this bill is not extended. Considering some short sales take a year to close, I'd get it listed NOW if you are thinking about short selling!
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