short sales in raleigh: Prevent Raleigh Foreclosure with Raleigh Short Sales
- 02/26/11 06:47 AM
For the legions of homeowners facing foreclosure proceedings, the prospect of selling their home with a short sale can only be a source of hope. Real estate short sales in Raleigh is not an ideal solution to one's mortgage problems, to be sure, but it can prevent foreclosure and allow a homeowner to get out of an expensive mortgage without ruining one's personal credit. However, if you are doing a short sale transaction with your home, you need to be very detail-oriented and precise. Be sure that you attend to all of the myriad details that need to be addressed when … (0 comments)
1. What happens to the seller's credit rating when they allow an investor to short sell their property?
What typically happens is the loan will show up as "paid" on their credit report; however there will be a notation that says "settled for less than originally owed" or something along these lines. It is more favorable for a homeowner to short sell than to have a foreclosure on … (1 comments)
short sales in raleigh: Raleigh Short Sale Fraud | Are You Committing It?
- 02/26/11 06:29 AM
Given increased defaults and declining property values in certain locations, the mortgage industry is experiencing an increase in short payoffs, sometimes called short sales. In fact, over the last two years, short payoff volume at Freddie Mac has grown more than 1,000 percent (2007-2009). This upward trend in volume leaves the market ripe for incidences of short sale fraud. What is a Raleigh short sale? Short sales in Raleigh occur when a borrower cannot pay the mortgage on his or her property and is permitted to sell the property for less than the total amount due, at a loss to the … (0 comments)
short sales in raleigh: Negotiating a Successful Short Sale in Raleigh
- 02/26/11 06:26 AM
Anyone who has ever profited from doing short sales in Raleigh has also without a doubt had one or two rejected at some point. Guess what? It is just the nature of the beast…As with all types of sales you’re playing a numbers game.
There are very Raleigh Realtors who truly know how to successfully negotiate a short sale. We find that most Raleigh real estate agents have the perception that all that is necessary is to submit an offer and wait for the bank to give you an answer. If all goes well the offer will be accepted … (0 comments)
short sales in raleigh: Short Selling Second Mortgages
- 02/26/11 06:23 AM
Many of the Raleigh homes that you come across will have two mortgages with two separate banks. If you are just getting started, I strongly recommend that you target properties with single mortgages. Negotiating one mortgage is always easier because a second mortgage means that you are now responsible for negotiating two short sales instead of one. However, if finding homeowners who only have a single mortgage is not a realistic option, you must be prepared to successfully discount two properties.
The first thing you will need to know is that in the event of a foreclosure, the bank who holds … (0 comments)
short sales in raleigh: Raleigh Short Sale Exit Strategies
- 02/26/11 06:20 AM
I know what you are thinking... "The title of this blog does not make sense. How can you leave a place before you ever even arrive?" Please allow me to take the next few moments to discuss how exiting before entering is not only possible but should be considered as the single most important aspect of a short sale transaction.
The motivation to write this article came from the countless amount of feedback that we have received from readers regarding Short Sale Exit Strategies. I will soon make available more detailed information on specific exit strategies. These will be methods … (0 comments)
short sales in raleigh: Communicating with the Loss Mitigation Negotiator
- 02/26/11 05:34 AM
The stronger your relationship with the loss mitigator the better your chance of getting short sales in Raleigh accepted. This is a people business and you will earn more paydays by increasing your communication skills. The loss mitigator has an interesting job. They may be working 200-300 files at any given time so time is a very limited commodity. Next, ask yourself what type of personality is likely to be a loss mitigator? Somebody that loves to talk and is very chatty? Somebody that is very empathetic and understanding? Not likely! Most often a loss mitigator will be direct and to … (0 comments)
For the legions of homeowners facing foreclosure proceedings, the prospect of selling their home with a short sale can only be a source of hope. Real estate short sales in Raleigh is not an ideal solution to one's mortgage problems, to be sure, but it can prevent foreclosure and allow a homeowner to get out of an expensive mortgage without ruining one's personal credit. However, if you are doing a short sale transaction with your home, you need to be very detail-oriented and precise. Be sure that you attend to all of the myriad details that need to be addressed when … (0 comments)
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