short sale md: Short Selling Investment Properties . . Can It Be Done? - 07/26/10 09:56 AM

If you need to short sale your investment property but are refraining  from getting started because everyone talks about deficiency judgments or the dreaded 1099. .
Here’s some news. . .
The obvious consequences from doing a short sale is to have the debt completely forgiven, In some instance lenders will go this route, depending on your hardship and the investor of your loan.
Doing a short sale with investment properties create a lot of  possible scenarios that may come to the surface after is completed.

#1 The lender can attempt … (0 comments)

short sale md: The Short Sale Process In A Nutshell . . - 07/25/10 11:46 PM
A clear and simple explanation of short sales. 
If you are behind on your mortgage payments. .
A loan modification is turning into a loan mortification. .
a short sale could be the solution you are looking for
In a short sale, you sell your house In a foreclosure. . .you lose it!  
Many people have heard the term short sale, but most are unfamiliar with its definition or process. Short selling has become more widely accepted in the real estate market in the past two years as a way to keep more distressed properties from entering … (0 comments)

short sale md: Can You Short Sale An Investment Property? - 07/23/10 03:51 AM
Short Sale Investment Property Can You Short Sale an Investment Property?

Just an update to an earlier post. . . .she finally called me. . . . a little too late! 
"She lost her investment property to a foreclosure"
It all began like this. . . .
“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 . … (4 comments)

short sale md: Strategic Defaults and Strategic Short Sales- Do The Moral Police Get To Decide? - 07/06/10 03:40 AM

Recently I have been reading more and more posts from Realtors about "Strategic Defaults" and how immoral and wrong they are. They seem appalled that someone could have the audacity to suggest  they need this type of help. . .
May I remind you that a Realtor's fiduciary role is to direct your client based on AVAILABLE OPTIONS FOR THEM!
It is NOT YOUR JOB to judge them for the choices they make!
You do have the right to choose whether you can work for that person or not. .
. .but as long as they are legal and I'm certain that I can have their short sale approved by their lenders, I … (5 comments)

short sale md: Best of the Best: A Recap of Melissa's Most Helpful Short Sale Blog Posts - 06/29/10 01:01 AM
An informed client is a happy client. . 
Considering a short sale?
Read below for more information. . . 
Agents: this recap is for you. I have now been active in the blogging community for over and year. I calculate that I have written at least 300 blogs posts specifically about short sales that are designed to help the Realtor® navigate the short sale transaction.
Here are five that have received great accolades and that I think you will find helpful if you are working short sales or if you plan to work ‘em in the near future.
Realtors: Here's Another … (2 comments)

short sale md: Hardship Letter SAMPLE for a Short Sale Application. . .MAKE IT COUNT! - 06/29/10 12:46 AM

Hardship Letter SAMPLE for a Short Sale Application
The following is another example of a hardship letter correctly written by a homeowner. A Hardship letter is something lenders will require to consider you for a short sale. This is your opportunity to bring your case to them. . why are you in a hardship? . . .you only have one chance. . make it count! Your hardship letter should not be used to complain to what they have done or not done to make your situation worse. This letter must be honest and represent the facts clearly and … (1 comments)

short sale md: Changes to the FHA Short Sale Process - 05/24/10 11:59 PM
A lot of great information about FHA short sales 
Essentially, HUD (our federal government) has determined that their way of helping the homeowner is to dramatically reduce the opportunity for FHA borrowers to successfully complete a short sale.  The 82% net to lender rule that has always been in place is out the window now.  Is this what they are doing with our $750 billion dollars?  There are several points to these new guidelines that should be thoroughly considered. 
For one, I am not at all thrilled about the new “required” language which essentially nullifies our listing agreement.  I … (1 comments)

short sale md: Questions Answered About Short Sale Approval Letters - 05/24/10 12:51 AM
How to avoid a future Deficiency Judgment when you are doing a short sale?
Pick the right Realtor and consult with your attorney.
The steps below are similar for a Maryland homeowner doing a short sale
I came down with the flu on Friday. At least, I think it is the flu. It's a wild combination of cold stuff and fever that has kept me away from the computer. When I checked my email this morning, I had an email from a Realtor® friend who had some questions about short sales and deficiency. They were good questions and questions that are fairly indicative … (1 comments)

short sale md: Maryland New Foreclosure Law House Bill 472 Compliance Relating to Notice of Intent to Foreclose - 05/13/10 02:25 PM

New Foreclosure Law for Maryland Residents . .to be effective July 1st 2010 
               Commissioner of Financial Regulation  
                     Advisory NOTICE 
                                                                                                May 5, 2010
Interim Guidance on Implementation of House Bill 472
Compliance Relating to
Notice of Intent to Foreclose
            On July 1, 2010 (the “Effective Date”) Maryland’s new foreclosure mediation law will go into effect.  Beginning on the Effective Date, each secured party must meet new requirements … (1 comments)

short sale md: Short Sales Questions & Answers . . .Are You Considering One? - 05/11/10 11:49 PM
These are the very first questions I will ask when a potential client calls me for an initial consultation. . 
How much do you owe on the property? If you owe to the bank more than what your house is worth. .then you are underwater. .meaning that you can't sell your home unless you bring a lot of cash to the closing table. You may qualify for a short sale. . that is if you don't have the cash.
Does anyone else have a legal ownership interest in the property?  Everyone on the title must agree to a short sale. . very sticky if you are getting a divorce. All … (5 comments)

short sale md: BPO or Brokers Price Opinion. What does that mean to my short sale deal? - 05/08/10 10:34 PM
The BPO can make or break a short sale. 
It is a crucial part for a successful short sale
Question: “Thanks for the quick Response, Jonathan. No pun intended… Wanted to check with you if the BPO would shatter our Short Sale possibility. Apparently, I was reading a couple of articles on the internet that said the BPO is something that Realtors do on behalf of the Lender but with minimal dedication and/or sincerity. Whatever they quote is the Final price for the lender and that might create havoc to our Short sale. I am NOT getting worked up about … (4 comments)

short sale md: Short Sales vs Foreclosure Maryland: Your Future Loan Application - 05/02/10 09:52 PM
Short Sales Maryland The Differences are very clear.. . Should you do a short sale or just let them foreclose on your property? It's your choice:
To read the complete series " Short Sales vs Foreclosure"  ← click here Tip:  Typically when you apply for a mortgage, you'll be asked to complete a Uniform Residential Loan Application. (1003) This standard residential mortgage loan application is a four-page document that asks in-depth questions about you, your income, your assets and liabilities, and your credit as well as a description of the property. You should try and avoid at all costs … (0 comments)

short sale md: Short Sales vs Foreclosure Maryland: Your Security Clearance - 05/02/10 01:43 PM
Short Sales Maryland The Differences are very clear.. . Should you do a short sale or just let them foreclose on your property? It's your choice:
Tip: Many people think that they can go to a company or agency and apply for their own security clearance. This is far from the truth. Only the federal government can grant someone a security clearance, and to get one the applicant must work for a government agency or contractor and conduct business that justifies granting him or her access to highly sensitive information.                     … (0 comments)

short sale md: Short Sales vs Foreclosure Maryland: Your Deficiency Judgment and HAFA - 04/30/10 02:16 AM
Short Sales Maryland The Differences are very clear.. . Should you do a short sale or just let them foreclose on your property? It's your choice:
Tip: HAFA is a Government program that wants to standardize short sales. Under this program, the homeowner receives $3,000 for relocations costs and the lender promises not to seek a deficiency judgment against the homeowner.   To find out more about the HAFA PROGRAM GO HERE
Short Sales : See the complete series of issues "Short Sales vs Foreclosure" ← here To find out more if a short sale is an option … (0 comments)

short sale md: Short Sales Maryland - The Offer is Too Low. .. . - 04/26/10 06:53 AM
Short Sales Maryland Why does a Bank deny a Short Sale? Reason #3: The Offer is too low Short Sale Offer Price is Too Low Banks will normally request an appraisal or some banks may also order a BPO. A BPO (Brokers Price Opinion) is a mini-appraisal that banks use in order to make a decision on a short sale. The BPO or the appraisal will be take in consideration relative to the comparables. In another words: "What has similar properties been selling for in the last 6 months" $$$$$$$$ When your listing agent submits the short sale offer, they should also … (0 comments)

short sale md: Short Sales for Gaithersburg in Montgomery County Maryland - 04/22/10 12:00 AM
All Short Sales for Gaithersburg in Montgomery County Maryland These properties are ALL short sales in Gaithersburg MD SEE Gaithersburg SHORT SALES  Are You Upside Down? For Buyers: If you are 3 months from purchasing , please contact us and ask for our personalized service that will include detailed research for potential FORECLOSURES, VA, REHABS, SHORT SALES and HUD properties that maybe available in your area of choice. "The Short Sales Technique. . ia available to our clients to assure them of the best possible value. ." Want to find out about it right now.? . call us 240-426-5754 Short Sales for Gaithersburg … (0 comments)

short sale md: What's in Store for Us on April 5th? Home Affordable Foreclosure Alternatives - 04/19/10 01:06 AM
Short Sales
The HAFA program will affect the way Realtors do Short Sales
It is probably one of the most significant acts that the Treasury Department has put together to help homeowners in distress.
In a recent post, I mentioned that I am more excited for April 5th, 2010 (the day that the HAFA Program begins) than I am for my birthday or any other monumental occasion. I'm not necessarily excited because I believe that Obama will be giving me any great gifts on April 5th, but I am eager to see how this program will unfold for sellers and agents … (2 comments)

The HAFA Program became effective April 5th 2010, servicers may participate immediately, or as soon as is practical. The primary options available through HAFA include Short Sale and Deed-in-Lieu of Foreclosure.
With HAFA. . . Lenders will not pursue a deficiency judgment for the shorted amount.
Your home is worth $300,000 and sell it as a SHORT SALE with HAFA . .
PROBLEM: . . .but your Mortgage is $500,000

short sale md: 3 Short Sale Myths Exposed - 02/26/10 09:40 PM
Mykel Martin from California bring us an excellent article about short sales. 
A short sale becomes a sensible solution when everything else has been attempted and discounted.
Remember. .
in a Short Sale . .you sell your home
in a Foreclosure. . .you lose it!
Short Sales are nearly impossible to get approved. 
FALSE:  Short Sales are nearly impossible if you have an Agent that is not educated to the process; They're not impossible!  While there are no guarantees in any transaction, there are short sales are being approved every day.  Most banks are trying to do everything they can, within … (4 comments)

short sale md: Hardship Letter SAMPLE for a Short Sale Application : SHORT, SWEET AND TO THE POINT ! - 02/23/10 11:18 PM
Hardship Letter SAMPLE for a Short Sale Application
"Short, sweet and to the point. . .your hardship letter should be only one page long and very clear. Bank Negotiators do not want to read a long drawn letter that reads like a novel. . ( they don't have the time!) ” The following is another example of a hardship letter correctly written by a homeowner in a hardship  More than any other document in a short sale package the hardship letter can help make or break the actual short sale. While it's true that banks care for themselves and how … (2 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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