Showing posts with label Short Sale. Show all posts
Showing posts with label Short Sale. Show all posts
Monday, May 23, 2011
Wednesday, April 6, 2011
What is a short sale? Is a short sale right for me? How much do I pay for a short sale?
There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale."
When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. A short sale typically is executed to prevent a home foreclosure. Often a bank will choose to allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, the advantages include avoidance of having a foreclosure on their credit history. Additionally, a short sale is typically faster and less expensive than a foreclosure
Foreclosure is expensive for a mortgage lender. Mortgage lenders are not in the business of foreclosing on houses. Banks and lenders are in business of making loans. They don't want the house back. This is a business decision for the lender. Which means it has to make rational, logical sense. If you think a short sale maybe right for you, call now to find out how you can save your credit. The commission and attorney fee's are covered by your lender, this is of no charge to you!
We are constantly striving to create efficient and dramatic results for our clients by utilizing the latest on-line technology & marketing systems. Our team passionately believes that our clients' needs always come first.
I am not a talker, but a doer. If you comprehend the power experience in selling this much real estate, and you want someone who is open minded to new ideas of, and is Pro-active in getting homes sold fast and for top dollar, then pick up the phone and call now.
When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. A short sale typically is executed to prevent a home foreclosure. Often a bank will choose to allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, the advantages include avoidance of having a foreclosure on their credit history. Additionally, a short sale is typically faster and less expensive than a foreclosure
Foreclosure is expensive for a mortgage lender. Mortgage lenders are not in the business of foreclosing on houses. Banks and lenders are in business of making loans. They don't want the house back. This is a business decision for the lender. Which means it has to make rational, logical sense. If you think a short sale maybe right for you, call now to find out how you can save your credit. The commission and attorney fee's are covered by your lender, this is of no charge to you!
We are constantly striving to create efficient and dramatic results for our clients by utilizing the latest on-line technology & marketing systems. Our team passionately believes that our clients' needs always come first.
I am not a talker, but a doer. If you comprehend the power experience in selling this much real estate, and you want someone who is open minded to new ideas of, and is Pro-active in getting homes sold fast and for top dollar, then pick up the phone and call now.
When is it too late to short sale my home? What happens after auction?
It's never too late! Usually to stop an auction we need an offer, but it's never to late to make that call to stop the auction.
Many times I've had homeowners behind a year and we just start the short sale process. So many home owners think that the short sale will cost them money. They are not aware that the bank pays the attorney and Realtor fees, so they wait.
It's never recommended to wait, but if you receive an auction notice you must act now! For More Short Sale information, visit: www.LocalShortSalePro.com
Once the auction take place, the bank is formally taking back the property. At this point in time, your next contact will most likely be a Realtor. This agent is hired by the bank to list your home and be the eyes and ears for the bank. They will most likely visit the home and leave a notice on your door, called Know your Options. This notice will let you know who is in charge of your home and possible talk about relocation assistance otherwise known as, "Cash For Keys" and the rental option.
Don't get too excited the rental option is for tenants who are living in the home with a lease, at that point we ask that the tenant turn the lease over to the bank for review. They will deceide whether or not they want to honor the lease.
The relocation assistance is known as Cash for Keys. Another words, "you give me the keys and I'll give you a check." The amount is always negotiable and the sooner you move out usually the larger amount is offered. You must agree to leave the property in broom swept condition.
If you reject the cash for keys the lender will move forward with the eviction process. For more information on the foreclosure process, visit: www.RealtyKim.com
Many times I've had homeowners behind a year and we just start the short sale process. So many home owners think that the short sale will cost them money. They are not aware that the bank pays the attorney and Realtor fees, so they wait.
It's never recommended to wait, but if you receive an auction notice you must act now! For More Short Sale information, visit: www.LocalShortSalePro.com
Once the auction take place, the bank is formally taking back the property. At this point in time, your next contact will most likely be a Realtor. This agent is hired by the bank to list your home and be the eyes and ears for the bank. They will most likely visit the home and leave a notice on your door, called Know your Options. This notice will let you know who is in charge of your home and possible talk about relocation assistance otherwise known as, "Cash For Keys" and the rental option.
Don't get too excited the rental option is for tenants who are living in the home with a lease, at that point we ask that the tenant turn the lease over to the bank for review. They will deceide whether or not they want to honor the lease.
The relocation assistance is known as Cash for Keys. Another words, "you give me the keys and I'll give you a check." The amount is always negotiable and the sooner you move out usually the larger amount is offered. You must agree to leave the property in broom swept condition.
If you reject the cash for keys the lender will move forward with the eviction process. For more information on the foreclosure process, visit: www.RealtyKim.com
Friday, June 6, 2008
Fequently Asked Questions on Short Sales
There are so many people out there wondering what is a short sale? Can I do a short sale on my home? For those of you out there wondering the pros and cons to short sales. This 20 minute question and answer video should answer all of your questions that you should ever have on Short Sales. Please click on this link for a quick educational video on Short Sales. http://www.realtykim.com/shortvideo.asp
Thursday, May 8, 2008
Avoiding Foreclosure
There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale." When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. A short sale typically is executed to prevent a home foreclosure. Often a bank will choose to allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, the advantages include avoidance of having a foreclosure on their credit history. Additionally, a short sale is typically faster and less expensive than a foreclosure .Foreclosure is expensive for a mortgage lender. Mortgage lenders are not in the business of foreclosing on houses. Banks and lenders are in business of making loans. They don’t want the house back. This is a business decision for the lender. Which means it has to make rational, logical sense.
If you think a short sale maybe right for you, call now to find out how you can save your credit or visit my website at: www.RealtyKim.com
If you think a short sale maybe right for you, call now to find out how you can save your credit or visit my website at: www.RealtyKim.com
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