short sale maryland: The Year Of Short Sales
- 02/21/10 10:00 PM
www.short-sales-expert.com
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short sale maryland: Investment Property Nightmare. . .Is A Short Sale a Good Solution?
- 02/10/10 12:44 AM
Investment Property Nightmare. . .Is A Short Sale a Good Solution?
“I’ve screwed up BIG TIME” She told me on the phone. “Why?” I asked. . I broke my own rules on an investment purchase. A mistake that is sucking me dry, I’m on my way for the worst real estate loss I’ve ever experienced, EVER! “Calm down. .maybe there is something we can do . . tell me how can I help you?. .all I could say. . When I purchased a condo in this building four years ago . .it seemed to be the best investment I … (4 comments)
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short sale maryland: Inadequate Follow Up and Communication When Processing a Short Sale for a homeowner.
- 02/08/10 01:20 PM
Inadequate Follow Up and Communication when processing a short sale for a homeowner. . . Let's face it. a homeowner basically putting all their eggs in a basket doing a short sale. . if it fails, there is a high level of percentage that the homeowner will have to face a foreclosure.
Not a good prospect for them, after all. .
That's why they wanted to do a short sale to begin with. . .
Proper follow up and communication is a key ingredient doing a successful short sale. If you as the agent do not follow up with everyone … (4 comments)
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short sale maryland: How long does a typical short sale take in Maryland?
- 02/01/10 12:19 AM
How long does a typical short sale take in Maryland?
The short sale time-line is completely subject to your Lender(s). We are fortunate that in Maryland , finding a buyer for a well priced home is not too difficult. So the time lapse for a short sale is always in your lender's hands. Many banks are overwhelmed right now with short sale requests. Unnecessary delays can be avoided by sending a complete short sale package. This is the key.
A complete short sale package.
I can tell you that many incomplete offers are often passed over or rejected … (5 comments)
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short sale maryland: The Year Of The Short Sale
- 01/27/10 11:04 PM
Follow Short Sales News. .
Instant Update "The Short Sale Buzz:"
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short sale maryland: Short Sales and Their Impact On Your Credit Score. . .
- 01/25/10 12:59 PM
Short Sales and Their Impact On Your Credit Score: Short Sale and the impact on credit Scores No one can tell you the exact outcome of your credit score since your credit is affected by many variables and add the fact that the FICO score is a constantly evolving process and changes over time. Understanding also that your credit is also a credit rating composed of three different credit reporting agencies: Equifax, TransUnion and Experian. How does a short sale affect your credit? I can begin with comparison to the "Other" alternatives, the foreclosure and a deed in lieu of foreclosure. Based … (3 comments)
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short sale maryland: Short Sales 101 Sending Back That Approval Letter. . .
- 01/24/10 11:23 PM
Realtors need to be aware that their responsibilities is to the homeowner and not to the bank!
Sometimes, I see how some Realtors continue break this rule.
They are confused about their fiduciary duty
Many Realtors out there do not have any business doing short sales and they should stick to what they know best.
The biggest misconception is:
You are helping a family and your actions will have an impact on the quality of their lives for the next few years.
So please remember, in a Short Sale. . Your client is NOT the bank! Your fiduciary relationship is with the seller.
You must always look out for the best interest … (3 comments)
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short sale maryland: Chase Bank Loan Modification Denied in Maryland. . . NOW WHAT?
- 01/16/10 11:29 PM
My Chase Bank Loan Modification was denied . . now what?
Chasing Chase Bank to do a loan modification and do the right thing is almost impossible.
After all the hours spend on the phone, gathering incessant number of papers, bank accounts, tax returns and hardship letters. . .
You are being notified that your Chase Bank Loan Modification was officially denied.
Now what?
Now you know what we have known. . . Despite all the government and media hype, voluntary loan modifications are not the silver bullet to the foreclosure crisis. it certainly was not in your case.
… (1 comments)
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short sale maryland: Bank of America Maryland Loan Modification Denied. . NOW WHAT?
- 01/16/10 11:08 PM
My Bank Of America Loan Modification was denied . . now what?
After all the hours spend on the phone, gathering incessant number of papers, bank accounts, tax returns and hardship letters. . .
You are being notified that your Bank Of America Loan Modification was officially denied.
Now what?
Now you know what we have known. . . Despite all the government and media hype, voluntary loan modifications are not the silver bullet to the foreclosure crisis. certainly not in your case.
Even after President Obama introduced the HAMP program, less than 8% of the anticipated 9 … (4 comments)
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short sale maryland: Eliminating the Hardship letter in SHORT SALES . . .
- 01/14/10 12:17 AM
Eliminating the Hardship letter in SHORT SALES . . .
It is said that 22 percent of mortgage defaults were "strategic defaults" coming on homes that were underwater in 2009.
What exactly is going on?
Are people learning from the banks that it is a sound business decision seeking available help rather than staying prisoner on their own homes doing the right thing?
You are a prisoner of your own home if your mortgage is underwater and you do not have the cash to make it up at the closing table.
Simply, you can not sell.
So you … (7 comments)
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short sale maryland: Should I do a Loan Modification or a Short Sale?
- 01/03/10 09:39 PM
Should I do a Loan Modification or a Short Sale?
This will depend on your particular situation. In general, we advice all our customers at first contact to be absolutely sure a loan modification will not help them.
You will need to look at:
Your financial situation
The willingness of the bank
Your desire to keep your home
Most banks will not open two files at the same time. You will need to decide in advance whether you want to pursue a loan modification or a short sale. You … (0 comments)
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short sale maryland: Am I too late for a short sale? I just got a notice of default from the bank
- 01/03/10 09:36 PM
Am I too late for a short sale? I just got a notice of default from the bank. . .
Time is not on your side. . .you should act fast.
With most lending institutions, you can begin the short sale process as late as a week or two before the scheduled foreclosure date but it will depend on your particular situation.
When I list a home as a short sale, I immediately contact the bank on your behalf and try to convince them to wait for us. . since a short sale will probably bring them more … (0 comments)
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short sale maryland: Should we stop making our mortgage payments while our home is on the market as a short sale?
- 01/03/10 09:32 PM
Should we stop making our mortgage payments while our home is on the market as a short sale?
A question I hear very often being asked frequently by homeowners. . Nobody, outside of a lawyer, can tell you whether to stop making your mortgage payments. . especially not Real Estate Agents, because we are not licensed to give you legal advice.
But you have to realize that the bank will only accept a short sale when you are in a hardship. . if you CAN MAKE your mortgage payments, maybe you are not in a hardship … (0 comments)
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short sale maryland: How Much It Costs To Do a Short Sale?
- 12/21/09 11:02 PM
How Much It Costs To Do a Short Sale?
It costs you nothing. . .
When I list a home as a short sale, I recognize my clients are in hardship and they need all the help they can get.
Some of them have fallen trap to the loan MORTIFICATION fiasco and paid some lawyer a lot of money for nothing.
When I do a short sale, I tell my clients we are in the same boat. . .no can guarantee you a successful short sale.
If we get it approved and closed. . we get paid by the … (1 comments)
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short sale maryland: "Click it", Read it and CALL!
- 12/21/09 10:38 PM
Short Sales Help
Rosemary Brooks posted this valuable piece on her blog giving consumers the options for people that may be considering a short sale.
I read a blog that warned that we should be careful what we write about - especially when it comes to Short Sales. If we are not sharing the correct information with the homeowners - we are really not helping the situation.
So I thought that the best way to share what the MHA / HAMP / HAFA / programs are about and what is -à hot and straight from the horses' mouth (so to … (1 comments)
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short sale maryland: Short Sales Maryland - Short Sales Report for Montgomery (MOCO) and Frederick (FRECO) Counties
- 12/19/09 10:23 PM
Short Sales MD
Montgomery County - Frederick County WEEKLY MARKET REPORT for All: SHORT SALES
FRECO (Frederick County) and MOCO(Montgomery County) in MD Foreclosures Report for the last day of the month of DECEMBER 2009
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short sale maryland: What happens when half of Florida's Homeowners are "underwater"?
- 12/14/09 09:13 PM
Short Sales Maryland
Joe Murphy writes about Florida's market and how nearly 50 % of homeowners in Florida may be underwater.
There are many options for you if you fall into that category.
But choosing to ride the market when you may qualify for a short sale may not be your best choice
Choose well. .
What does it mean too the market if half (48.5%) of the homeowners with mortgages, owe more than their home's worth?
With this kind of grim statistic it could be easy to get pretty down on the market, but I think it could be worse. The Wall Street Journal's report shows the percentages … (4 comments)
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short sale maryland: Short Sales And Foreclosures Maryland - Short Sale & Foreclosure Report for Montgomery (MOCO) and Frederick (FRECO) Counties
- 12/05/09 02:12 AM
Short Sales MD and Foreclosures MD
Montgomery County - Frederick County WEEKLY MARKET REPORT for All: FORECLOSURES and SHORT SALES
FRECO (Frederick County) and MOCO(Montgomery County) in MD Foreclosures Report for the last day of the month of NOVEMBER 2009
LOAN MORTIFICATION DISASTER Chase Bank disclosed in November that: Nearly a quarter of trial modifications had failed because … (0 comments)
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short sale maryland: Online Loan Modification Help For Washington
- 11/23/09 11:56 PM
Short Sales MD
The number of people seeking help for loan modifications keeps growing and growing. . . consumers need to be aware that the Obama's Plan to help homeowners is available for those that qualify only with a hardship.
I recommend to my clients before doing a short sale to be absolutely sure that a loan modification is completely discounted.
There is no better person to do a loan modification than the homeowner himself. Working everyday . .with only one modification to do . .yours!
If all fails and/or you find out that do not qualify for the Obama Plan because you do not make enough money. . a short sale would be the most sensible solution for … (0 comments)
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short sale maryland: Short Sales Maryland - 789 Short Sales Sold In Montgomery County Maryland 2009
- 11/22/09 01:35 AM
in Short Sales for Maryland . .
A question in today's market environment. .
Should I Keep On Paying For My Mortgage If I do a Short Sale?
This is a loaded question for a lot Realtors
Richard P. Zaretsky, Esq. an attorney shares with us his thoughts about homeowners contemplating a short sale "should I keep on paying my mortgage"
The homeowner is the only person that should make the decision. . .but if you are asking the bank to accept a short sale. .
WHERE IS THE HARDSHIP?? If you are UP TO DATE ON YOUR MORTGAGE? . .
In another words. . WHERE IS THE BEEF? See … (0 comments)
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