short sales: Short Sales Have Surged
- 11/29/12 12:28 PM
While the number of short sales has surged in recent years, closing on such transactions still poses plenty of challenges along the way that can threaten to derail the deal. Negotiations remain a sticking point in these transactions because sellers can agree to any amount on a home sale but it’s the lender who ultimately has the final say. Compounding the issue, many lenders also are still reluctant to even discuss a short sale with a seller until a purchase contract is in place. Another big hurdle agents report with short sales is that once lenders do approve a short … (0 comments)
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short sales: 9 Common Anderson and Greenville SC Short Sale Mistakes And How To Avoid Them
- 11/07/12 05:54 AM
1. Not being prepared for cash contribution and/or promissory note - have a discussion with your Realtor about this possibility. Depending on your personal situation, the bank may ask you to pay something at closing. While this is rare, it does happen. Especially if you have the money in savings or other places.
2. Not having a preliminary title search – Most short sale agents have an attorney they use and they can get a preliminary search done to make sure you have no surprises at closing (like a judgment that prevents the short sale!)
3. Not starting with a reasonable … (27 comments)
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short sales: Choosing The Right Realtor To Represent You When Buying A Distressed Property
- 10/06/12 01:11 PM
New homebuyers often make the mistake of simply going with the first real estate agent they find. Who you choose to represent you is very important, especially when it comes to buying a bank-owned property. By choosing a buyer’s agent who has experience working on foreclosure and short sale transactions, you will have a representative who can use their knowledge to your benefit, not the seller.
So who should you choose? It’s always a good idea to interview several REALTORS before selecting an agent. Ask what professional designations he or she has. These designations indicate an agent has received additional … (4 comments)
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short sales: What is a HAFA Short Sale? Do You Qualify?
- 09/25/12 12:55 PM
HAFA (Home Affordable Foreclosure Alternatives Program) is a federal government program which is designed for homeowners who can no longer afford their mortgage payments and wish to avoid foreclosure when home retention is not an option and selling is the best option available.
There are many benefits to a HAFA short sale. With a HAFA short sale, there is no deficiency judgments, no cash contributions at closing, no promissory notes, $3,000 to seller for relocation assistance, and additional incentives for 2nd mortgages at closing. These are some great benefits to consider. Also the price is preapproved so you … (4 comments)
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short sales: Short Sale Home In Anderson SC For Sale - Updated Home with Character
- 09/16/12 01:49 PM
Updated Charmer! … (2 comments)
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short sales: Fast Help For Homeowners Act - New Bill To Speed Up Short Sale Approval On 2nd Liens
- 09/13/12 01:02 PM
Do you experience delays on your short sale sue to second liens? I sure do. However, recently there was a bill introduced called the Fast Help For Homeowners (FHFH) Act to speed up the short sale process by requiring subordinate mortgage lien holders to make a decision on a short sale within 45 days. The bill proposes that if they don't follow that time frame, then on the 46th day, the short sale is approved.
These second mortage holders hold up and deny short sale transactions because they try to collect as much as they can for a payout. However , … (5 comments)
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short sales: SC Short Sales - A Very Fast Growing Segment of the Market
- 06/24/12 10:45 AM
Short Sales are one of the fastest growing segments of the real estate market now days... Although they are more work than the traditional sale, they are also more rewarding. Many of the agents in our area don't want to deal with these properties due to the extra time and work, but I will gladly pay referral fees to agents that don't want to do them. We specialize in the counties of: Anderson, Greenville, Pickens, Oconee, Greenwood, and Laurens.
… (1 comments)
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short sales: What Is A Short Sale
- 03/14/12 01:28 PM
Foreclosure on a home has consequences for the family, the community, the housing market, and the economy. However, the option for a short sale provides a way for troubled homeowners to prevent foreclosure and many of the dire penalties involved. A short sale is an agreement in which your mortgage lender agrees to accept a payoff on the loan for less than the balance. Many lenders agree to a short sale because they receive more of the loan balance in comparison to the amount they would gain from selling the property following a foreclosure. This process also aids in maintaining home … (1 comments)
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short sales: In the Midst of the Foreclosure Process? You Have Other Options!
- 02/08/12 01:28 PM
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short sales: Tips for Buying A Foreclosure or Short Sale
- 02/07/12 09:15 AM
Buyers are drawn to distressed properties. After all, 'the No. 1 reason to buy a foreclosure is the potential for a good bargain. Discounts often can range from to 20 or 40 percent off on a short sale or foreclosure compared to a sales price of a nondistressed home. But despite the big bargains, buyers need to tread carefully before jumping in. Some tips for buying a foreclosure or short sale are: First time buyers are investors may want to focus on REOs. New buyers may want to avoid short sales, which often come with lengthy negotiations. On the other hand, REOs … (3 comments)
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short sales: Behind On Your Mortgage? There Are Solutions Other Than Foreclosure
- 01/28/12 01:55 PM
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short sales: Short Sales In Anderson and Greenville SC - Avoid Foreclosure
- 01/24/12 09:10 AM
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short sales: Get Cash To Do A Short Sale On Your Home
- 01/18/12 01:34 PM
Short Sales are More Valuable Than Ever! Avoiding foreclosure is always best when possible, but now there are incentives that make it an even better one! Short sales and deeds-in-lieu are options to foreclosure, and now the government is making them easier and quicker through the Home Affordable Foreclosure Alternatives Program, or HAFA, which also gives the homeowner $3,000 for participating. HAFA provides financial incentives as follows: Homeowners qualify for $3,000 (updated March 26, 2010; was previously $1,500) in Borrower Relocation Assistance after a short sale or deed-in-lieu has been completed (may classify as taxable income in some cases) Financial incentives … (4 comments)
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short sales: Curious About Short Sales? It may be the solution for you
- 01/15/12 01:44 AM
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short sales: Price Reduced - Short SALE Home In Simpsonville SC
- 01/08/12 09:33 AM
Five Bedroom home for sale in Simpsonville SC … (0 comments)
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short sales: Who Pays The Commission On A Short Sale?
- 01/05/12 01:14 PM
Who Pays My Agent When I Short Sell My Home?
Because a short sale usually comes about in a financially trying time, the standard realty fees can be a concern. But the homeowner need not worry about the financial strain of short selling his or her home. When the lender agrees to the short sale, the real estate agent begins to market the home to potential buyers. At this point, the homeowner is only required to allow potential buyers view the home. There is no cost to the homeowner. When the home is sold, the commissions are paid from the … (3 comments)
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short sales: Need Help Stopping Your Foreclosure?
- 11/14/11 12:48 PM
There are many ways that unforeseen hardships can turn the joy of owning a home into an incredible burden. Maybe you've lost your job, or have unexpected medical bills beginning to pile up, or your monthly mortgage payments have increased beyond your current budget. No matter what the cause of your troubles, ignoring the problem won't help, it will only make it worse. You must act quickly to resolve the issue. The following are a few examples of how to stop a foreclosure on your home: Look for Other Sources - Most homeowners don't realize they have a variety of … (3 comments)
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short sales: 407 Cotton Hall Ct - Simpsonville SC home for sale
- 10/23/11 12:38 PM
Spacious Home in Pool Community … (6 comments)
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short sales: Are You More Than 30 Days Behind On Your Mortgage?
- 10/18/11 12:48 PM
The thought of losing your home to foreclosure can be terrifying.
HOW YOUR GOVERNMENT IS HELPING:
The federal government enacted H.R. 3648, the Mortgage Forgiveness Debt Relief Act, to help stem the tide of foreclosures by removing the tax burden resulting from debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with short sales. H.R. 3648 has been extended through 2012 under The Emergency Economic Stabilization Act, H.R. 1424. The Obama Administration has continued to pursue the foreclosure problem with the Financial Stability Plan that helps homeowners and lenders find solutions and alternatives to … (6 comments)
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short sales: All Brick Home For Sale In Anderson SC - 112 Cayman Way, Anderson SC 29621
- 09/10/11 03:38 AM
All Brick Subdivision in Anderson … (4 comments)
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