April 2012 Blog Posts (28)

Tips on How to Make Your Short Sale Successful

When you owe more on your home than it’s worth, but you have to sell, you need to squeeze every dollar possible from the sale. Here are seven tips for navigating the short-sale process.

1. Know who you owe

A short sale has to be approved by any company that…

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Added by Debra B Albert, PA on April 28, 2012 at 8:13am — No Comments

Mortgage Payments Behind? What Is Next...

How To Get a Successful Short Sale
How To Get a Successful Short Sale

If you are behind in your mortgage payments you probably have called your lender. You may have attempted a loan modification and congratulations to you if you were successful. Many are not, and…

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Added by Debra B Albert, PA on April 28, 2012 at 8:09am — No Comments

Sellers - Counter those contracts - Pigs Get Fat, Hogs Get Slaughtered!

Sellers, know when to negotiate - a 90% Offer is a GREAT OFFER

Know when to negotiate sellers - a 90% offer is a good offer.  I ran across and reblogged this on Active Rain.  It was written by Cal Yoder with Keller Williams Realty Lancaster.  As a Realtor, we have, "Been There...Done That" and know the frustration of not being able to bring…

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Added by Debra B Albert, PA on April 28, 2012 at 8:05am — No Comments

Housing Trends Show Positive News in Port St. Lucie - March 2012

Home Sales in Port St. Lucie are Holding the Positive Trend

Florida housing market shows positive trends in March

ORLANDO, Fla. – April 19, 2012 – Florida’s housing market had increased pending sales, higher median prices and a reduced inventory of homes for sale in March,…

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Added by Debra B Albert, PA on April 28, 2012 at 8:00am — No Comments

Notice for Homeowners!

IF YOUR HOME IS ON THE MARKET, AND YOU'RE STILL LIVING THERE....THIS POST IS FOR YOU. 

With all the foreclosed homes on the market, buyers are increasingly getting out of their cars to take a look in the windows and around the backyard. 

I recently listed a home for short sale in Sparks, NV.  After being on the market for 1 day, my clients 16 year old daughter returned home from school to find the side gate wide open, and a couple walking around in the back yard.  After asking…

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Added by Jodi Ashby on April 27, 2012 at 5:37pm — 1 Comment

Short Sale

Does the owner still owe the remaining amount on the loan when

selling their home as a short sale or does the owner have to receive

a letter from the mortgage company stating he or she will not be

responsible for the remaining balance of the loan prior to closing on the home.

The owner doesn't want to owe anything to the mortgage company after

the closing.

Added by DeEtra Moore on April 27, 2012 at 1:22pm — 2 Comments

LPS has the file and the home is still owned by the seller

I have a short sale on So Cal with Wells Fargo both 1st and 2nd.  The first approval was atleast 30,000.00 OVER market value.  Brought in a new buyer as the first one cancelled, input it into equator in March, since then I have downloaded the same info, listing agreement, finacials, offer, etc. Times.. they say the file is moving forward but then I have to resubmit the same info.  Well, on Tues the file disappeared from Equator, the explaination was the offer was not approved 10 days prior…

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Added by KaRon Bryson Gwynn on April 27, 2012 at 11:00am — No Comments

National Mortgage Settlement???

Anyone heard of this or have experience with this???

 

About the Settlement…

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Added by Amber Gunn on April 26, 2012 at 5:37pm — No Comments

Wisconsin Foreclosure Education Classes

What:            FREE LEGAL HELP!  For homeowners facing foreclosure. Help available in English and in Spanish Ayuda disponible en español también.…

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Added by Michael Collins, CDPE, SFR, BPOR on April 26, 2012 at 10:48am — No Comments

BAC BUYER'S ACKNOWLEDGMENT & DISCLOSURE ADDENDUM

Hello,

I am being asked to complete this form, however Bank of America has not furnished a copy.  Anyone have a copy they can share?

Thank you!

Added by David Jordan on April 25, 2012 at 3:30pm — 1 Comment

Wisconsin March 2012 Housing Statistics

Counties of WI

The Wisconsin housing statistics are now in for March of 2012. Here is an excerpt from what the Wisconsin Realtors Association (WRA) had to say:…

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Added by Michael Collins, CDPE, SFR, BPOR on April 24, 2012 at 2:37pm — No Comments

FHA Short Sale

I have an FHA SSale that is going to foreclose in 2 days.  They are telling me now that I have cleaned up 6 liens on the property that after 6 postponements that is all they will give the homeowners.  AFter 6 months I do not want to loose this.  Anyone know of a way to expedite this file and get it to the correct people in two days time?  They have all of the documents including a cash offer now.

Added by Sheri McBride on April 23, 2012 at 1:35pm — 2 Comments

Putting Aside Your Emotions When Selling a Home

Putting Aside Your Emotions When Selling a Home

Because of the large investment needed to purchase a home, sellers often find themselves in a difficult situation.  This…

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Added by Michael Collins, CDPE, SFR, BPOR on April 23, 2012 at 1:30pm — No Comments

LOVE to get some opinions on this - Offer is $505,000, BPO is at $575,000, foreclosure auction price - $464,000!!!!! ???????

I will let everyone know how THIS story ends, but, certainly welcome thoughts/opinions.



We have a short sale, offer is $505,000

BPO Value (verified through the BPO agent and executive office) - $575,000 (and this is the SECOND time in 45 days the BPO has come in this price range)



CURRENT STATUS - Offer DENIED, too low



The "odd" thing:

This house currently has a foreclosure date of May 6, opening bid, $464,000!!!!



Love to get any… Continue

Added by Ben Benita on April 22, 2012 at 1:02pm — 16 Comments

Chase Says Keep Trying For a Redwood City Short Sale

I am helping out on a short sale in Redwood City where Chase is servicing the first and second loan. What this means is that the owner has first and second mortgages that were originally gotten from Chase. These loans were then sold to investors and Chase maintained the servicing. This means that ultimately Chase no longer makes the decision about whether or not to approve a short sale. The problem is there is also a third lender, and the third lender wants a lot of money to approve…

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Added by Marcy Moyer on April 21, 2012 at 3:55pm — No Comments

Banks agreeing to more short sales than ever before!

http://www.bloomberg.com/news/2012-04-17/short-sales-surpass-foreclosures-as-banks-agree-to-deals.html

 

Check out the article, I'm even quoted near the end under 'Florida Short Sales'

Added by Ethan Gregory on April 18, 2012 at 1:39pm — 1 Comment

Minimizing Home Seller Risks in Rent|Lease to Own

Tips for Home Sellers to Minimize Their Risk in Lease-to-Own Transactions

The economic downturn in the housing market over the past 5 years has driven up the number of…

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Added by Michael Collins, CDPE, SFR, BPOR on April 16, 2012 at 5:17pm — No Comments

I Just Closed An Unusual Silicon Valley Wells Fargo Short Sale

I just closed a Wells Fargo Short Sale that is not typical. It was a nice 3 bedroom townhome in North San Jose, close to Santa Santa Clara. The owners were divorcing and neither could afford to buy the other one out or afford the property alone. This constitutes a hardship in most lender's minds. I have closed other Wells Fargo short sales with similar circumstances. The current owners had been able to pay the mortgage but they will not be able to in the near future because of an impending…

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Added by Marcy Moyer on April 13, 2012 at 11:27am — 6 Comments

Growth of reverse mortgage market

 

Reverse mortgage is a program that offers a special type of loan to the senior citizens. To get this loan, you have to be at least 62 years old. Instead of paying to the lender, oyu get paid by the lender, and the payment continues till you remain in your home. If you want to convert substantial home equity into cash, then also you can opt for this. Generally, it is tax free. You can opt to receive the cash in monthly installments or can take a lump…

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Added by Jason Muller on April 13, 2012 at 12:00am — No Comments

First Horizon

Short sale the buyer had declared bankruptcy, first and second lien was discharged in bankruptcy. First lender BOA approved short sale Second lender First Horizon refused  free money to them.  Wanted  buyer to give  10% Why would a buyer give a lender 10% when debt discharged

Added by Debbie Heaton on April 12, 2012 at 2:08pm — 4 Comments

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