short sale: Bayview Loan Servicing Short Sale Approved and Closed in Maplewood NJ
- 08/15/14 02:13 AM
We've recently closed on another Bayview Loan Servicing Short Sale, this one in the Maplewood, NJ. This colonial style home was located in the thriving community of Maplewood, which is highly desired by NYC commuters due to its easy train ride to Manhattan. With 3 Bedrooms, 2 Full Bathrooms and a Finished Basement, there was a lot of demand for this Bayview Loan Servicing Short Sale. Originally, the loan was serviced by Wells Fargo Short Sale Department, but after a service release, Bayview Loan Servicing picked up the loan. We quickly changed course, helping our Short Sale client complete her hardship affidavit and … (1 comments)
short sale: How to Properly Secure a Vacant Home
- 08/03/14 07:20 AM
Congratulations! You’ve just closed on your first investment property. But it needs work; renovations must be done, permits must be applied for and construction must be completed before it is ready to be inhabited by you or your tenants. What do you do with that home in the interim? If you want to protect your investment, you secure that property. Depending on where you bought that property, the amount of security needed can differ. In some areas, a simple lock change will suffice. But in higher risk areas, more thorough preventative measures are needed. Most people are familiar with traditional plywood … (1 comments)
short sale: Bank of America Short Sale with 2 Mortgages Closed in Bloomfield, NJ
- 04/24/14 08:20 AM
We've recently closed on another Bank of America Short Sale, this one in the Bloomfield, NJ. What made this more challenging was that there was not one but two mortgages to negotiate. This 3-family home was in high demand, as there are not many 3-family homes currently available in Bloomfield, NJ. What made this property even more desirable was its finished basedment and detached garage. After marketing the property for less than two weeks, we received a strong offer from a buyer who wanted to reside in one unit and rent the other two. After submitting this offer to the Bank of America Short … (0 comments)
short sale: Nationstar Short Sale Closed in Newark NJ
- 02/19/14 11:42 AM
We've recently closed on another Nationstar Short Sale, this one in the Vailsburg section of Newark, NJ. This 3-family home was in poor condition, having been recently vandalized and in need of repairs. Plumbing and heating systems were missing, and there was damage to walls and ceilings. As a result of the condition, the home was not financeable. Not an easy sale, especially as a Short Sale! Believe it or not, there are investors who are willing to take a risk on properties like these, even in distressed sales like short sales. We were able to procure an offer from an … (0 comments)
short sale: Wells Fargo Short Sale Closed in Plainfield NJ
- 09/24/13 09:13 PM
Wells Fargo Short Sale Closed in Plainfield NJ We're pleased to announce another successful Wells Fargo Short Sale has closed, this one located in Plainfield, NJ. This 3-Bedroom, 2-Bathroom Cape was a great buy. This Wells Fargo Short Sale featured a deep back yard, extra long driveway for plenty of parking, hardwood floors, a formal dining room and a finished basement with full bathroom. After completing the borrower eligibility phase, Wells Fargo Short Sale Dept. ordered a Broker Price Opinion (BPO) to determine what price we should market the home for. We received and presented an offer which was close to list price, but Wells Fargo Short … (1 comments)
short sale: Chase Short Sale Closed in Clifton NJ
- 09/23/13 09:22 PM
Chase Short Sale Closed in Clifton NJ We're pleased to announce another successful Chase Short Sale has closed, this one located in Clifton, NJ. This 3-Bedroom, 3-Bathroom Colonial was a terrific investment. A Corner Property, located close to the Garden State Parkway, it offered living room, dining room, kitchen, partially finished basement and detached garage. This Chase Short Sale also featured a nice side yard, new brick front and newer windows, and was in high demand. After completing the borrower eligibility phase, Chase Short Sale Dept. ordered a Broker Price Opinion (BPO) to determine what price we should market the home for. We received and presented … (0 comments)
short sale: Ocwen Short Sale Closed in Society Hill
- 08/26/13 01:14 AM
Ocwen Short Sale Closed in Society Hill We're pleased to announce another successful Ocwen Short Sale has closed, this one located in the Society Hill section of Newark, NJ. There was also a second lien with Ocwen Short Sale dept. which we also successfully settled with the short sale. This three bedroom, 1.5 bathroom upper level unit was in fair condition. Featuring hardwood floors a living room with wood burning stove, a kitchen with sliding glass doors to a balcony and two assigned parking spaces, this Ocwen Short Sale home was in high demand. After completing the borrower eligibility phase, Ocwen Short Sale Dept. ordered a Broker Price … (0 comments)
short sale: Citibank Short Sale Closed in Newark NJ
- 08/17/13 09:53 PM
Citibank Short Sale Closed in Newark NJ We're pleased to announce another successful Citibank Short Sale has closed, this one located in Newark, NJ. This attached 2-family home was in need of repairs. The property was an investment home for my clients, and their tenants had neglected the home and failed to pay rent, which was part of my clients' hardship. Once the home became abandoned, it was eventually vandalized and suffered fire damage from a neighboring home. Suffice to say, this was not an easy Short Sale. After completing the borrower eligibility phase, Citibank Short Sale Dept. ordered a Broker Price Opinion (BPO) … (7 comments)
short sale: Citi & PNC Short Sale Closed in Scotch Plains NJ
- 08/17/13 06:26 AM
Citi & PNC Short Sale Closed in Scotch Plains NJ We're pleased to announce another successful Citi Short Sale has closed, this one located in Scotch Plains, NJ. There was also a second lien with PNC Short Sale dept. which we also successfully settled with the short sale. This three bedroom Split-Level in Scotch Plains NJ was in move-in condition. Featuring hardwood floors throughout, a warm & spacious living room with wood burning stove, a large formal dining room with high ceilings and a partially finished basement with recreation room, this home was in high demand. After completing the borrower eligibility phase, Citi … (2 comments)
short sale: Bi-Partisan Extension of Mortgage Forgiveness Act Introduced to Senate
- 06/29/13 02:44 AM
While most economic indicators are signaling that the housing market is on the mend, there are still millions of homeowners stuck in a negative equity situation – owing more on their mortgage than their home’s current market value. For many of these underwater borrowers, a Short Sale is a great alternative to foreclosure. A Short Sale allows homeowners to sell their home for less than they owe on their mortgage, with the consent of their bank or mortgage lenders. One key benefit to homeowners who complete a Short Sale is that they are not taxed on the difference between what they … (2 comments)
short sale: Nationstar Short Sale Closed in Plainfield NJ
- 06/14/13 06:56 AM
Nationstar Short Sale Closed in Plainfield NJ We're pleased to announce another successful Nationstar Short Sale has closed, this one located in Plainfield, NJ. This 3 Bedroom, 2 Bathroom corner lot Colonial was in good condition. Featuring hardwood floors, a finished basement with full bathroom and an above ground pool, it was in high demand. The owners had gone through several financial hardships, and had attempted loan modifications to no avail. They desperately needed to get out from underneath their underwater Plainfield home. A short sale was their last hope, and we were happy to help. Our buyer's offer was a strong one, however, Nationstar … (0 comments)
short sale: The Basics of a NJ Short Sale
- 02/23/13 04:08 AM
While many economic and real estate indicators are pointing up, there are still many families in New Jersey dealing with difficult finances. Housing debt remains at the top of this list, but addressing this problem does not need to be overwhelming. The video below is a brief and general overview about Short Sales, including: What defines a Short Sale Why a Bank would consider a Short Sale Examples of Hardships Benefits of a Short Sale We hope you find this information helpful. Feel free to contact us with questions about your specific situation. For more information on Short Sales, contact … (0 comments)
short sale: New Fannie Mae Short Sale Tool to Help Distressed NJ Borrowers
- 02/18/13 06:10 AM
Escalation is a key word in the vocabulary of any savvy NJ Short Sale agent. When faced with a lack of progress on a NJ Short Sale file, an experienced short sale agent will utilize escalation techniques to get results – meaning get your short sale file processed and approved. Common causes for escalation of a short sale file are disputes in valuation, unfair terms to the borrower or just a plain old lack of activity from the servicer. Ultimately it is the investor of your loan – by that I mean, who actually owns the note – who calls the … (2 comments)
short sale: Takeaways from Yesterday’s Bank of America Short Sale Symposium in NJ
- 07/26/12 04:39 AM
Bank of America Short Sales department held a symposium for Realtors yesterday at the Hilton in Elizabeth, NJ. I attended the event, along with roughly 100 other NJ Short Sale Realtors, and I’m glad I did. There was a lot of valuable information disseminated that can help Realtors working on Bank of America Short Sales in New Jersey.
The session included a lot of basic information, such as how to pre-qualify a NJ Short Sale homeowner, what documentation is needed for a NJ HAFA Short Sale vs. a Bank of America Cooperative Short Sale in NJ and what incentives are … (0 comments)
My clients own a condo in Kearny, NJ. After having their salaries cut, then being laid off, the mortgage payment become too much for them. Add in their rising property taxes and maintenance fees, and they had a legitimate hardship. They made the decision to Short Sale their NJ home. After completing the Short Sale application, submitting a Hardship Letter and providing income and asset documentation, we waited for a response from Nationstar Mortgage. Finally, we heard back, … (0 comments)
Let me start off by stating that I am not an accountant or tax attorney, and this blog is for informational purposes only. It is not to be construed as tax or legal advice. If your NJ home is underwater, a Short Sale may be a good option for you. You may be able to escape from your upside-down mortgage without any deficiency judgment or promissory note, and while your credit will be … (2 comments)
News and information on Real Estate in the Essex County & Union County regions of New Jersey. We focus on New Construction, Short Sales and Foreclosures.
We've recently closed on another Bayview Loan Servicing Short Sale, this one in the Maplewood, NJ. 
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