Archive for the Real Estate Category
What is A Real Estate Short Sale?
31. July 2011 by admin.
What is a Real Estate Short Sale?
A real estate short sale is when the your mortgage bank/servicer’s investor has agreed to take less than what is owed.
A short sale is a foreclosure alternative.
The Short Sale Guide will take you through the steps of a short sale. Great for Realtor & Homeowners…You’ll learn how to prepare for a short sale and what steps to take to apply for a HAFA short sale the government short sale. In the guide, you will find insider tips on how to save time throughout short sale process.
Learn what to expect from the bank.
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Short Sale opportunities could grow
16. October 2010 by admin.
‘Short Sale’ Opportunities Could Grow In Wake Of Flawed Foreclosure Paperwork
WEST PALM BEACH, FL (Oct. 14, 2010) – Foreclosure paperwork mishandling by lenders and their legal representatives could provide an opening for individuals attempting to “short sale” their properties, Realtor and real estate mediator Deidre Newton says.
“Attorney Generals and consumer groups are questioning whether lenders have filed, based on overwhelming volume, insufficient or illegal paperwork against property owners who have fallen behind in their mortgage payments,” Newton says. “The challenges in the courts may result in a significant delay of foreclosure cases for several months, if not longer.”
But for those individuals making payments but having a hard time selling their property because their mortgage has become higher than the value of their home, the foreclosure paperwork fiasco could be beneficial, Newton said.
“The foreclosure paperwork mess might create added leverage for ‘underwater’ home owners,” said Newton, founder of the Real Estate Negotiation School, www.renegotiationschool.com.
“Lending institutions might be more willing to negotiate the sale of such properties to move them off their books,’” Newton said. “While short sales are not optimal for lenders, they might see them as a pragmatic way of keeping people from abandoning their homes and creating a greater devaluation of properties and blighting of neighborhoods.”
A frequent contributor to media reports on the real estate scene, Newton is participating in a series of “Florida Housing Help” workshops sponsored by the state Department of Financial Services, http://www.myfloridacfo.com/Consumers/OutReach/FLHousingHelp.asp.
The next workshop is this Saturday, Oct. 16, 10 a.m. to 4 p.m. at the City of Lauderhill City Hall, 5581 W. Oakland Park Blvd.
Newton will also be holding a seminar called “Short Circuit the Short Sales” from 9-11 a.m. next Wednesday, Oct. 20, with members of the Jupiter-Tequesta-Hobe Sound Association of Realtors, 901 W. Indiantown Rd # 18, in Jupiter.
(For additional information, contact Newton directly at (561) 685-0386 or isellwpb@aol.com)
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Fort Lauderdale Real Estate Broker Associate Profile
16. September 2010 by admin.
Profile on Eric Miller of Fort Lauderdale
About the author
About the AuthorFort Lauderdale Realtor, Eric Miller is a broker associate /owner with Keller Williams Realty in
Thinking about purchasing a home in the
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Short Sale Benefits
16. September 2010 by admin.
The unnoticed benefits of a Short Sale…Recently we helped an Air Force Officer and Homeland Security Guard avoid foreclosure by successfully completing short sales on their behalf. A short sale meant more to them then most may realize, foreclosure didn’t just mean losing their home, it meant losing their security clearance at work. The lesser impact of a short sale and by avoiding a foreclosure judgment, both individuals were able to keep their security status at their jobs. Confirming what we learned at Clearancejobs.com, the #1 reason individuals are denied security clearance is “Financial Considerations”.
After helping and getting to know both of these individuals, we realized the underlying benefits that go along with a short sale. There are many benefits to a short sale vs. a foreclosure and sharing them with potential clients will help you solidify those relationships. Maybe you know a Government worker who is facing foreclosure and doesn’t realize the severity of it. Maybe this experience will help them.
There are many ways we can work together and support you with your clients.
When it comes to short sales, we offer 2 levels of service:
Full Short Sale Processing – From listing to closing we will help gather documents, provide a free preliminary title search, submit file, follow up and obtain a Short Sale approval. NO UPFRONT COSTS…We get paid when you get paid at Closing! No Attorney or Short Sale Processing Fees.
24 Hr. HUD Service – Many realtors like to retain control of their short sale and our 24 Hour HUD service was created to support them. We will provide you with a Free Preliminary search and all the updates you may need to successfully complete the short sale.
If you’re interested in hearing more about how we can help you,
Please Call Me… 1-877-427-9696
Short Sale Package Available Upon Request
Thank You,
Anthony Crupi
Assure America Title Company
“Our Knowledge is your Advantage”
Contributers:
What is a Short Sale
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Palm Beach County Realtor And Foreclosure Mediator
27. June 2010 by admin.
West Palm Beach – Deidre Newton, West Palm Beach Realtor and Foreclosure Mediator, was the lead interview in the lead story of Friday’s (March 26) CBS Evening News.
Ms. Deidre Newton, author of the Florida Foreclosure Toolkit ™, was interviewed as part of a story on the Obama administration’s decision to take new steps to help those “underwater” with a mortgage greater than their home’s value.
The change would require lenders to reduce or suspend monthly mortgages payments for up to six months, reduce mortgage balances to reflect property values and re-finance them with Federal Housing Administration (FHA) loans.
Ms. Newton, a fourth generation Floridian, in addition to mediation services, offers classes to real estate agents on how to close real estate sales involving property in foreclosure. She was interviewed in St. Lucie County talking about the importance of keeping people in their homes to avoid further depression of real estate values.
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FHA Short Sales Get paid to move
18. April 2010 by admin.
FHA Short Sales…Get Paid to Move out!
The U.S. Housing and Urban Development (HUD) is helping borrower (s) move from their home with a program called Pre-Foreclosure Sale (PFS Program). This program allows borrowers who have fallen short on their payments and are now in pre-foreclosure sell their homes short of what they owe.
Basically, how the program works is if you meet certain criteria set forth by HUD…HUD will perform a new appraisal of your home and accept roughly 88% of the current homes value satisfying he old mortgage note.
Key Factors are:
• Borrowers/Sellers will receive cash incentive of up to $1,000
• The Mortgagee (your lender) or HUD will not pursue the borrower for a deficiency judgment
• Borrowers/Sellers must professionally & actively market property for up to 3 months which will delay any foreclosure proceedings.
• Must have a marketable title, title search must be performed and all liens should be cleared/discharged prior to closing
• Borrower can be current at time of submission but must be delinquent by at least 30 days prior to the closing
• Property values are determined by an FHA certified appraiser, using a “as-is” Fair Market Value (FMV)
• Mortgagor/Sellers must maintain property in “ready to show” condition
• Mortgagee/ lender must respond within 5 working days from receipt of the executed contract
Eligibility:
• The property must be owner-occupied, no “walk-a ways” or investment properties. Exceptions: when it is verifiable that the need to vacate was related to the cause of default (job loss, transfer, divorce, death), and the subject property was not purchased as rental investment, or used as a rental for more than 18months.
• The Mortgagor must be 31 days or more delinquent at the time of the Pre-foreclosure Sale closing.
• The Mortgagor must provide documentation substantiating a reduction in income or an increase in living expense, and documentation that verifies the Mortgagors need to vacate the property (if applicable).
For more information call 1-877-427-9696
Contributers
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Bank of America Short Sales on the move
3. March 2010 by admin.
Bank of America short sales are on the move….
With Bank of America short sales starting to move quicker into closing, we should be setting up for the best spring home buying season in years. Thanks to B of A’s implementing the equator system getting files submitted and worked on has become a much quicker process. The equator system allows the person who submitting the short sale whether it’s the client, realtor or title company submits via an online portal versus the old fashion fax method they were using.
This short sale process for Bank of America eliminates a lot of the phone calls or going back and forth emails that you would normally have to deal with making sure that your file was received and is being worked on.
What’s great about the B of A equator system is that it sends you email notifications letting you know what you are missing or may need to fix within your package, again eliminating huge amounts of waste time you used to spend doing follow up calls.
Although great, it does have some draw backs. For instance, if the your are requesting a huge reduction request like over $150,000 or more your file may get kicked back and you will have to submit via fax.
All in all with B of A adopting the equator system for short sales and other banks like GMAC who has also implemented some features from the system, we expect at our Title Company closing will be robust for the Spring home buying season
For more info on short sales try what is a short sale
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Whats a short sale
11. February 2010 by admin.
WhatisaShortSale.org was formed by a team of real estate, financial and legal professionals with over 50 years industry experience who have come together to provide homeowners with a no up front cost solution to completing a short sale.
What is a Short Sale free service to homeowner’s includes a free consultation that explores their present situation to see if they would qualify for a short sale. After the free consultation the homeowner’s are introduced to an expert in our network in their local area that will work hand in hand with them from start to finish during the short sale process.
Our network of experts do all the work from listing and showing the home, to processing all the necessary documentation that is needed for the banks approval to get your short sale approved in a timely fashion.
We help thousands of homeowners and agents across the nation short sale their properties. We understand it can be difficult for homeowners to pay their bills during a time of hardship, so there is cost for our services and no cost with our industry partners who help you with your short sale.
We have developed contacts within the banks that we utilize to assist in getting your short sale approved in a fast and efficient manner.
Free Short Sale Processing provided to Whatisashortsale.org by Assure America Title Co.
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What is a Short Sale
4. February 2010 by admin.
Great site that will help you understand the road to performing a short sale
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Listbankreoproperties.com
14. December 2009 by admin.
Realtors learn to list and obtain bank BPO’s
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