st petersburg short sales: How will a St Petersburg Short Sale or Loan Modification affect my credit score - 05/01/11 03:02 AM
St Petersburg FL – How do foreclosures, loan modifications or short sales affect a credit score? Your credit score will be affected by late mortgage payments and a short sale. However, there are 2 things that are considered horrible on your credit report. Those 2 are items are foreclosure and bankruptcy. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. A foreclosure or bankruptcy will almost immediately lower a credit score by around 100 to 120 points. (The number is not hard and fast – it all depends upon what the score was before the … (1 comments)

st petersburg short sales: St Petersburg Short Sales: Do short sales really take 6 to 8 months?? - 05/01/11 02:56 AM
St. Petersburg FL – We received a lot of feedback from yesterday’s post. One agent said, “You obviously don’t know what you are talking about. Bank X won’t give us a response on the file and we have been waiting 5 months for an answer. How dare you suggest that I am incompetent because they haven’t replied?” (The bank was a large national bank whose name I changed for this post.) Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. First off, we are not saying that all agents are incompetent. However, we do see … (0 comments)

st petersburg short sales: St Petersburg Short Sales, whats around the bend thanks to the Fed - 02/03/11 02:56 AM
St Petersburg Short Sales: For those of us working short sales in St Petersburg Fla  the process is not improving.  More short sales are coming into th market and luxury shorts are expected to increase over the next 12 months.  The Feds unwillingness to work the process is creating another financial meltdown.  Hold on to your hats!  Follow me,  John and Sally are great people living here in St Petersburg, always paid bills on time.  Joe down the street looses his place to a short sale or bank owned sale.  John and Sally due to a slow down at Johns workplace need to reduce debt. They … (0 comments)

st petersburg short sales: St Petersburg Fla , Short Sales, How to convince a lender to waive a Promissory Note - 02/03/11 02:33 AM
St Petersburg FL – Some lenders are very stubborn about collecting what they feel they are “rightfully owed.” These lenders are usually a lender that you originally got the loan from. A good example is a credit union loan, or a small community bank. Another common type is loans that were granted with Private Mortgage Insurance. In our experience, these companies are very demanding. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. They negotiate hard and say they will not approve a short sale without a promissory. However, that is not always the case. … (0 comments)

st petersburg short sales: Another Tip to Improve the Odds of your Short Sale being Apprroved - 01/24/11 11:11 PM
St Petersburg FL – If you are selling your home, then ask the buyer to write a letter about why they want to purchase the home. If you are a buyer, then write that letter. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. The listing agent will submit that letter along with the short sale paperwork. With a little luck that letter will help “grease the wheels” and cause the short sale to be approved faster. Short Sale negotiators are human beings. They have emotions that can be touched by a good story. These … (3 comments)

st petersburg short sales: St Petersburg Fla Short Sales , never ending issues - 01/30/10 01:51 AM
If you do decide to get into the short sale marketplace, aka long sale marketplace its imperative you find the right agent. 
Why,  lack of experience will waste your time and reduce your chances of getting a home dramatically.
When I take a short listing its imperative to determine,  how many loans and with who.  First mortgage and Second mortgages with the same company improve your chances.  Also, knowing the sellers financial status will improve our chances, How?  if the buyer is only upside down in the house and credit cards are current etc,  then the chances of them deciding to bankrupt … (1 comments)

 

Steve Busse

Saint Petersburg Beach, FL

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REMAX All Star

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