short sale maryland: Short Sales Short Tales . . Pricing Your Maryland Short Sale Correctly - 10/14/11 05:11 AM

$100,000 overpriced!
I got a call from an exasperated seller. The bank was threatening to foreclose the property if he did not have an offer soon and it seems his agent was not helping by NOT SELLING HIS HOME.
One of the rules we all have to abide as real estate professionals is to NOT STEAL each other  clients. Unless the client initiates the call, we are not supposed to engage them.
In this case, he hired a friend in the business and  she never really ever did a short sale according to him. . .she really never came to the … (0 comments)

short sale maryland: Short Sales - Short Tales : She Cut The Blinds! - 10/11/11 04:14 AM

She Cut The Blinds!
It never ceases to amaze me. .
When doing short sales, I see the best and the worse on people.
In this particular case, it was one of our earlier short sales. .
Everybody was a little confused and not sure what a short sale was back then . .
But we knew we were helping people . .and that was that.
We were representing the seller and she was a little intimated about the process. To make matters worse, she was going trough a divorce and she was pretty upset about her situation.
Before closing, the … (4 comments)

short sale maryland: An Easy Solution If You Are Underwater.. . - 09/20/11 11:44 AM
 
Is A Short Sale An Option for You?
 
Yes it very well may be depending on your current situation. .
 
1. Are you unable to refinance or qualify for a loan modification?
 
2. Are you behind on your mortgage payments?
 
3. Are you are facing a financial hardship?
 
4. Do you ou owe more than your home is worth?
 
5. Are you unable to sell your home at a price greater than your mortgage debt?
 
Click on image for more answers. . .

 
 
 
What Are The Benefits of A … (2 comments)

short sale maryland: Why Should You Hire Us When You Are A Distressed Homeowner in Maryland? - 08/24/11 05:55 AM
(6 comments)

short sale maryland: Underwater Homes . . . Underwater Children - 08/17/11 10:12 AM
 
 
 
 

 
 
 
 
 
 
(7 comments)

short sale maryland: "This Recession Took Me To Depression" - 07/19/11 03:02 AM
One of my dear clients just sent me a composed song she dedicated to the Recession & Underwater Homes , Repo's and the IRS. .. 
She speaks for millions!
Enjoy it!
 

 
Fernando HerbosoBroker - Solutions Finder"Don't Pray For A Miracle. . .expect it!"  Herboso & Associates llc  www.ReallyNiceHomes.comwww.Short-Sales-Expert.comOffice 240.898.1848Cell    240.426.5754Fax    888.913.3535My real estate knowledge is always up-to-date. For expertise you can depend on, call me when you have questions about the market or are ready to make a significant move. . .Quality representation is not expensive, its priceless!       Herboso&Associates
(6 comments)

short sale maryland: Short Sales HAFA PROGRAM Provides Financial Benefits To Homeowners When Doing a Short Sale - 05/26/11 05:02 AM
Short Sales Maryland
For the month of May 2011, Herboso &; Associates will post one post per day highlighting the reasons why you should do a short sale before you lose your property to a foreclosure.
31 Reasons WHY YOU SHOULD DO A SHORT SALE BEFOREALLOWING A FORECLOSURE IN YOUR PROPERTY
 
Day #26 --Reason #26
$3,000.00 CASH For Moving Expenses
 
 
When you apply for consideration into the HAFA Program..
You will realize that HAMP complements this program when you exhaust your options to modify your loan.
Perhaps your lender has informed you that you cannot qualify for a loan … (6 comments)

short sale maryland: Do a HAFA Short Sale and Sell Your Home . . . Not Lose it! - 05/05/11 07:17 AM
 
Short Sales Maryland
For the month of May 2011, Herboso & Associates will post one post per day highlighting the reasons why you should do a short sale before you lose your property to a foreclosure.
31 Reasons WHY YOU SHOULD DO A SHORT SALE BEFOREALLOWING A FORECLOSURE IN YOUR PROPERTY
 
Day #5 --Reason #5
Do a HAFA Short Sale!
 
 
HAFA stsnds for: Home Affordable Foreclosure Alternative
The HAFA Program became effective April 5th 2010, most servicers may participate . The primary options available through HAFA include Short Sale and Deed-in-Lieu of Foreclosure.
With HAFA. . .Lenders will not … (0 comments)

short sale maryland: 31 Reasons WHY YOU SHOULD DO A SHORT SALE BEFORE ALLOWING A FORECLOSURE IN YOUR PROPERTY - 05/01/11 12:09 PM
 
Short Sales Maryland
 
For the month of May 2011, Herboso & Associates will post one post per day highlighting the reasons why you should do a short sale before you lose your property to a foreclosure.
31 Reasons WHY YOU SHOULD DO A SHORT SALE BEFOREALLOWING A FORECLOSURE IN YOUR PROPERTY
Day #1 --Reason #1
Commissions
 

 
Who pays the commission in a Short Sale? Who pays the closing costs? Who pays any seller contributions? Who pays the HOA fees?   ANSWER: The bank will pay the commission along with all the other usual closing costs An experienced … (3 comments)

short sale maryland: 11 Quick Questions and Answers About Short Sales For Maryland Homeowners - 04/11/11 03:07 AM

 
1. What Is A Short Sale?
 
The sale of a property upon agreeable conditions for what is worth and not for what's its owed
 
2. Why Would A Lender Agree To A Short Sale?
 
To save money and time, typically a short sale will net the lender more money than a lengthy foreclosure with hired attorneys
 
3. Why Would A Seller Agree To A Short Sale?
 
To avoid a foreclosure and possible an deficiency judgment
 
4. What Must A Seller Do To Prepare For A Short Sale?
 
Speak to their lender and hire … (3 comments)

short sale maryland: To do a strategic short sale or not to do a strategic short sale ... that is the question - 04/08/11 01:40 AM
 
Judy Chapman touches the subject of Strategic Defaults with many facets to help you decide if this is the right thing for you.
A Realtor should not under no circumstances avoid helping anyone that decides in doing a strategy default. We are not the moral police and as long as lenders would consider it ,. we are here to help you. .
In Chicago call Judy Chapman. . in Maryland? Call Fernando Herboso
 


Maybe you’ve heard the term ‘Strategic Short Sale’ before. Maybe you haven’t.
Here’s the quick and dirty definition of a Strategic Short Sale —
A … (1 comments)

short sale maryland: Why You Shouldn't Default on a USDA Loan - 03/28/11 01:06 AM
 
A loan modification is a required step before you should try a short sale.
Knowing the rules of your lender and how they operate should give you an edge during the negotiating part. .
An excellent article and a must read if you have a USDA loan.
 
 
Why You Shouldn't Default on a USDA Loan (Residential)
 

Most importantly, try not to default on any loans. If your trying to obtain a loan modification with USDA, your chances of getting one approved are very slim. Why? USDA does not offer a loan modification program like Fannie Mae or … (2 comments)

short sale maryland: Do I Have To Be Behind On My Mortgage Payments To Apply For a Short Sale? - 03/14/11 11:37 PM
 
Q & A
Short Sales
Do I have to be behind on my mortgage payments to apply for a short sale?
It Depends:
There are a lot of factors involved in a short sale.
Today's lenders are not just looking to do a short sale only when you miss your mortgage payments. They all have become pro-active and are seeking a solution for any future problems.
Your role as homeowner when you see a hardship ahead is to be proactive.  
Remember, most lenders would rather sell short than foreclose a property. When properly presented, they … (5 comments)

short sale maryland: Maryland Homeowners: Who Qualifies Your Hardship In A Short Sale? - 03/14/11 01:19 PM

     
As a Realtor that does almost exclusively Real Estate Short Sales, often times I get ask the same questions. One of them that comes very often : "Do I think they have a believable hardship to do a short sale? My answer has always been the same. . .I don't know, I don't make the decisions if a short sale has a qualified hardship or not. . It is not for me to take on that role. . All I can do is advice you about the requirements your lender imposes in a short sale and they will make the … (2 comments)

short sale maryland: Sample Hardship Letter When A Business Failure Has Occurred . . . - 03/10/11 01:56 PM
 
Use this as a guide only. . .
When it comes to hardships letters. . preferably you want to handwrite the hardship letter. . .and just  keeping it simple
 
RE: Sample Hardship Letter When A Business Failure Has Occurred 
(Negotiating for a lower settlement after a ridiculous offer to settle has been initiated by Lender) 
————————————————————————————————————-
To Whom It May Concern:
On ( DATE) I saw my business (Briefly describe your business here. .ex: in the service industry) start taking a dive and my losses forced me in a financial survival mode.. .  slowly realizing that  I could  no longer make the mortgage payments for (address)
Compounding … (3 comments)

short sale maryland: Maryland Short Sales Realtor: "Can I Sell My Home As A Short Sale To My Brother? " - 03/09/11 12:07 AM
Short Sales Information for
Maryland Homeowners
  
 What is an “Arms Length Transaction” in a Short Sale?
An arms length transaction is  where both the seller (s)and purchaser (s) are acting independently of each other and have no relationship to each other in a contract.
It means that you can not sell your house as a short sale to your brother, rent it from him, stay in the house and act like nothing happened!
That  would be an illegal transaction. . punishable by. . (check the video)
(***hint***~ It COULD  keep you from going to jail. .must see video)

(1 comments)

short sale maryland: Video Testimonial SHORT SALE SUCCESS STORY For HERBOSO & ASSOCIATES - 02/23/11 08:22 AM
 
Second time its the charm!
 
We were the second Realtors on this listing. . over 90 days on the market . .
Homeowner did not have any luck trying to sell it . ..no results!
 
this is where he contacted us ..Herboso & Associates 
 
We secured a contract in one single day!
Time was running out. . .
We negotiate with the lenders and a few weeks later . .
MISSION ACCOMPLISHED. .
SHORT SALE COMPLETED!
More importantly, our client was very happy with the results
SEE VIDEO
What about the other side?. . the Realtor that … (0 comments)

short sale maryland: Loan Modification Trap - 40 Years , Initial Teaser Rate and Your Soul! - 02/08/11 06:50 AM

www.AdiosLender.com


Loan Modification:
 
The federal government is pushing lenders to lower mortgage payments to help homeowners stay in their homes, but borrowers and housing counselors say the modification process is not an easy thing to do, despite governmental efforts. They complain of lost paperwork, endless hours on hold waiting for someone to speak to, un-returned calls and unexplained rejections.
 
What is the homeowner to do in this situation?
 
In some cases homeowners were victims from predators after paying thousands of dollars to loan modification companies and after securing their fees; they simply just ignored their … (2 comments)

short sale maryland: When To Low Ball a Short Sale Listing ? - 02/04/11 12:24 AM

When To Low Ball a Short Sale?
If you are the buyer who is instructing a buyer agent to put an offer on a short sale property. .. .a question soon comes up”
How low should your offer price be?
How Low Is Too Low?
Does your Realtor even knows the answer?
As a listing agent for short sales, I see the timing process many times has not been grasped by the buyer and their agent alike. . when they present an offer for a short sale listing. 
If I put a listing in 3 days ago and the … (6 comments)

short sale maryland: I Don’t Have Money To Repair My House Before Selling It As A Short Sale. . HELP! - 01/24/11 05:58 AM
Please view original article here under SHORT SALES
Its understandable that you do not have the money for your repairs. .after all you are doing a short sale and we know that short sales need a hardship and most often that means you don't have any money!
Under traditional selling for homes. . the norm has always been to spend, spend and prepare your home for sale.
When it comes to a short sale. .traditional steps taken before do not apply when you are suffering a hardship and your lender is involved by giving the third party approval. .
So?
(3 comments)

 
Fernando Herboso - Broker for    Maxus Realty Group, 301-246-0001 Serving Maryland, DC and Northern VA (Maxus Realty Group -  Broker 301-246-0001) Ambassador large

Fernando Herboso - Broker for Maxus Realty Group

301-246-0001 Serving Maryland, DC and Northern VA

Gaithersburg, MD

More about me…

Maxus Realty Group - Broker 301-246-0001

Address: Serving Montgomery, Frederick, PG Counties Maryland PLUS Northern VA, Listing Marketing Expert at your service 30 miles radius from, Gaithersburg , MD, 20878

Office: (301) 246-0001

Mobile: (240) 426-5754

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