Chose a Trained Agent to Rescue You with a Short Sale
An experienced agent will save you with a sale that relieves all your debt.
Or, You Could Crash and Burn with an Untrained Short Sale Agent
Choose only agents who are trained as Short Sale Negotiating Specialists to safely do a short sale.
Short Sale Gets You Out of Trouble
Is your home underwater? Do you owe more than it is worth, and you cannot afford the payments? Don't let yourself slip further and further into trouble. This website has an abundance of resourses to help you. You might want to consider a loan modification to change the payments so you can afford them. You might look at giving the home to the lender if you only have one loan, using a deed in lieu of foreclosure. The best answer for many homeowners is a short sale where you sell the home for less than what is owed and your ...
Stop Stress With a Short Sale
Financial problems can cause you a great deal of stress. You struggle to make the payments, or you fall behind on your mortgage, and the lenders send you scary letters. You need to know your choices. Foreclosure is one choice, but it is frequently not the best choice because it hurts your credit and makes it nearly impossible to get a good loan for 5 years, not to mention the effect on your family when you are evicted from the house by the authorities. Loan modifications are available using the Home Affordable Modification Program (HAMP). If you have only one ...
New HAFA Short Sales
On November 30, 2009, the U.S. Treasury issued new guidelines under the Making Home Affordable program to create the Home Affordable Foreclosure Alternatives Program (HAFA). Those guideliens were modified March 26, 2010 and the HAFA program went into effect April 5, 2010. If HAFA is implemented widely, the Short Sale process could completely change. The new program will reverse the Short Sale procedure from the Realtor’s perspective. Now, the Realtor and the seller take all the risk associated with Short Sales. They hope the seller will qualify for a Short Sale and they hope they will get a sales price high enough to be acceptable to the ...
Short Sale Do's & Don'ts
Don’t Stop the Short Sale Assistance Desk From Solving Problems
The Short Sale Assistance Desk can resolve problems on Fannie Mae Short Sales quickly. Fannie...
Bad BPO Creates a Bad Short Sale Decision
A rotten BPO will cause a rotten decision on your Short Sale The lender is not...
Must Have Links to Short Sale Resources
Your Links to Information Sources for Short Sales I gave a webinar for my fellow...
Read More Posts From This CategoryShort Sale How To
Short Sale Process Improved by Bank of America
Bank of America unveils improvements to their Short Sale procedure. Today, Bank...
Short Sales Go from No Contact to A Single Point of Contact
A Single Point of Contact is required for a HAFA Short Sale. Remember the bad old...
MARS, God of War Declares a Truce on Short Sales
MARS declared war on Short Sale Realtors, then called a truce. The Mortgage Assistance...
Read More Posts From This CategoryShort Sales Stories
Short Sales are Improving with the Regulators and Major Lenders
The big lenders and the regulators are improving the short sale process. In 2011, there were 340,000 short sales with 88,000 of them in the fourth quarter according to Realty Trac. This is a substantial increase, even though it is still less than 30% of the total number of sales. Corelogic predicts that short sales will increase 25% in 2012. ... [Read more of this review]
Mortgage Insurance: From Good to Bad and Ugly
Mortgage Insurance May Ruin Your Short Sale. In the first edition of Create A Short Sale, Your Guide Through the Short Sale Maze, I devoted a chapter to singing the praises of mortgage insurance companies. The mortgage insurance company had helped me get a short sale approved by explaining to the servicer that the short sale created a smaller loss... [Read more of this review]
Does the Seller Need to Be Delinquent?
Does the Seller Need to Be Behind on Mortgage Payments? Years ago, I gave a presentation on Short Sales to the CyberStars, a great group of high tech Realtors. One of the members of the audience said, “Of course, to start a short sale, the seller has to be behind on their payments.” This is a common thought. In general, that is not correct. ... [Read more of this review]
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