Do Not Let the Banks Foreclose
Gainesville Short Sales – Why Don’t I Just Let the Bank Foreclose? If you are a homeowner in distress, foreclosure should be the last option you consider. If and have closed a successful short sale you will receive a 1099 in the mail. Everyone who has sold short their home receives a 1099 for the difference of what they owed on their mortgage and what it sold for. However, if you lived in your home for 2 out of 5 years you may qualify for The Mortgage Forgiveness Debt Relief Act. This will allow for that debt to not be held against you for when you file your taxes.
The Mortgage Forgiveness Debt Relief Actis currently in place through 2012, meaning your Gainesville short sale must close prior to the end of 2012. Visit www.irs.gov or speak to your CPA to find out additional information. The act will allow for the debt to be forgiven and secondly, the bank will also forgive you for that loss and will not seek a deficiency. Florida is a deficiency state which means they can come after you for the loss you still owe them.
In 90% of our Gainesville short saleswe have been able to negotiate the waiver of deficiency. This is not a guarantee and it is based on each seller’s own unique circumstances. If you qualify for HAFA, the program will release you of that deficiency as part of the program guidelines. It is easier to have a deficiency waiver if you financially insolvent or if you are unemployed. If you have money, many times the waiver of deficiency is subject to a cash settlement. You may be offered 2 different cash settlements. One will be for a lower amount, for example $5,000 cash to close, while the other may be $10,000 at 0% interest with payments of $55 over the course of 15 years.
These are much better reasons than to do a foreclosure in Gainesville. Take into consideration this scenario:
Let’s say you owe $250,000 on your Gainesville home, you bought it for $278,000 and it is now worth $150,000. A $100,000 difference in what you owe the short sale bank and what the home is worth. A buyer contracts on your home for $150,000 and the short sale bank agrees to the short sale, agrees to waive the deficiency but comes to you and asks for you to come to closing with $5000 or take a unsecured note for $10,000 at 0% interest payable over 15 years at $56 a month.
You say no and the home ends up in foreclosure, is resold after being carried by the bank for a year from the foreclosure date to resale. In the interim the Gainesville home deteriorates slightly from nobody living in it and causes the value to go down by 15% and the sales price is $127,500. The short sale bank incurred taxes of $2800, attorney’s fees of $12,000, Realtor commissions of $7,600, carrying costs of $3300 for utilities for the year and $3500 in miscellaneous expenses. The $100,000 difference in the short sale price to what was owed is now $151,700 that the bank may seek a judgment against you for that amount. This is a big difference between possible out of pocket costs and not to mention how your credit will be affected. Keep in mind if you foreclose and a judgment is sought, your wages may be garnished.
Credit should be another consideration. With a Gainesville, FL foreclosure it is listed on your credit report as such and you will have to wait 5 to 7 years to purchase another home. With a short sale, the bank will report paid in full as agreed or paid less than agreed and you will have the ability to purchase again with FHA in 2 years after the short sale.
Other Articles to Read:
Short Sale Process – What to Expect
Do I Have to Pay for the Real Estate Agents Commission?
Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.
Foreclosure News highlights the 4th District Court of Appeal’s ruling, which requires lenders/banks to prove owning the homeowners’ note as prerequisite to foreclosure. This foreclosure news will give hope to homeowners who are facing foreclosure particularly for Gainesville Florida homeowners. Understand the difference between a mortgage and a note.
The said ruling may compel the lenders/banks to drop some of the cases they have against homeowners. Until they obtain the real note, they can’t proceed in starting the foreclosure over again. This is beneficial first and foremost for Gainesville Florida homeowners because they get a chance to prove their case in court. It will also benefit foreclosure defense lawyers and Gainesville Florida short sale agents in terms of having enough time to get a short sale approval for their sellers.
Foreclosure News also reveals Florida Supreme Court’s decision to work on a case that had undergone foreclosure already. Allegedly, the bank/lender backdated the note when they presented it to court. The court claimed that the ruling they made on the case of the homeowner who had already lost his home would give a dent on the foreclosure crisis in Florida.
According to thousands of Florida homeowners, the lenders/banks did not have the original note with them when they filed for the cases. The banks mostly resorted in acquiring the note prior to the final foreclosure summary judgment disposition. The appeals court, however, demanded for the banks to prove their ownership of the property prior to their filing of complaint toward homeowners and foreclosure summons.
The 4th District Court of Appeal administered the ruling that banks are deemed to have and prove ownership of the notes on which they have filed foreclosure.
According to Foreclosure News, instead of the summary judgment hearing; the homeowners are entitled to undergo evidentiary hearing. If the lenders/banks are not confident about the note, they will have to expel the case.
Summary judgments, according to foreclosure news, are only usual in foreclosure cases. For such issue, it is best to seek advice from a Florida foreclosure defense attorney.
Other Articles to Read:
Short Sale Process – What to Expect
Do I Have to Pay for the Real Estate Agents Commission?
Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.
Gainesville FL Foreclosure News reveals that foreclosures are on the rise while alternative modifications on these loans are declining. As of November 1, based on the Treasury Department data, about 10.6% of the 615,000+ abolished HAMP trials reached completion of the foreclosure process; this surpasses double the 4.4% of failed HAMP trials foreclosed on as of November of 2010.
Based on the Treasury data, about 39.7% of the cancelled HAMP trials have gone through the bank’s own private programs (we are seeing a sign here), dropping from 45.4% over the same time frame. As compared to last year, more of the Home Affordable Modification Program trials through foreclosure by Mortgage servicers have failed. It takes on average about 684 days in Gainesville Florida for a home to foreclose.
Although lower, foreclosure completions as a percentage of borrowers never accepted into HAMP trials are still on the rise. As of November 1, about 7.6% of 1.8 million borrowers denied a HAMP trial were able to finish the foreclosure process and this is a 5% increase from last year. Considered flat over the last year, about 26.5% of these borrowers were given alternative modifications.
The rising foreclosure completions on failed HAMP trials came about at almost every large servicing store taking part in the program and the highest increase has been observed by the Citigroup. About 13.5% of the 71,808 HAMP trials that Citigroup cancelled were able to complete the foreclosure process as of November 1, which is a 3.1% increase from the prior year.
As compared to 1.9% last year, about 9.3% of failed HAMP trials have gone through foreclosure at the Bank of America, they are the largest participant in the program. With an increase of 11.3% from 6.2% at JPMorgan Chase; and 12.8% increase from 6.4% at Ally Financial through the same time duration. OneWest Bank held the highest percentage in the program they are up by 10% from last year. OneWest foreclosed on more than 19% of the 20,000 failed HAMP trials. No wonder why Gainesville Florida homeowners are frustrated. At 6.7% – almost the same from last year – Wells Fargo obtained one of the lowest percentages of completed foreclosures on such modifications. This may indicate that the data is starting to rebound the higher re-default rates and that servicers are defining poorer performing private modification.
As compared to a 31% re-default rate for other private programs, 17% of the 108,000 HAMP modifications that started in the second quarter of 2010 have gone about 60 or more days behind through the year.
We will start seeing more Gainesville short sales and foreclosures on the market.
Other Articles to Read:
Short Sale Process – What to Expect
Do I Have to Pay for the Real Estate Agents Commission?
Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.
Foreclosure News highlights Treasury Department’s data indicating that there were 35,000+ loans in Home Affordable Modification Program trials that had been transferred to Seterus, which is the Bank of America’s IBM servicing arm.
The operating assets of mortgage servicer, Wilshire Credit Corp., have been bought by the Armonk – a company based in New York – from BofA in March of 2010 and was given a new name, Seterus, by IBM in July . No loans have been transmitted in the deal during that time.
Foreclosure News reveals that BofA’s HAMP report from Treasury in November exhibited -32,714 new trial modifications for the recent month. It has also been revealed in a footnote by the Treasury that there had been an approximate of 35,000 modifications to Seterus coming from the Bank of America. No feedback had been released by IBM or BofA.
It was also found out that Fannie Mae has bought back mortgage servicing rights from BofA in the third quarter. Due to problems at the bank’s servicing department, the unpaid principal covered by the mortgage servicing reached $74 billion. Report say that Fannie Mae had the intention to transfer the loans to specialty servicing shops like Seterus. Contracts between the servicers and government-sponsored companies which grant such compromise are being reviewd by the FHFA.
The 35,000 HAMP trials transferred to Seterus would almost place it to the top 10 biggest servicers in the program. American Home Mortgage Servicing provided extensions for the 42,000 HAMP trials, which is the 10th largest among servicers.
Since the program started in March 2009, 527,000 three-month HAMP trials have been offered by BofA and 171,000 of those HAMP trials have been converted into permanent modifications. An estimate of 184,000 HAMP-eligible mortgages are being held by BofA.
Other Articles to Read:
Short Sale Process – What to Expect
Do I Have to Pay for the Real Estate Agents Commission?
Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.
Clients of Gainesville real estate agents need to know what a FICO score is, why it matters, and how it is determined.
According to Gainesville real estate agents, credit is used to acquire assets and the lines of credit are being extended to entities which are grounded on some combined factors that determine a score. To protect your credit history and maintain reputable credit for big purchases like a car or a Gainesville home, one must understand his/her credit score. The real estate agents in Gainesville have a protocol to obtain scoring information from their clients who are planning to buy a home, either the regular residential or short sale home.
A credit score is simply a numerical value formula that a company/lender uses to evaluate the capability of an individual to pay a loan and the factors included in the formula vary. Lenders do pull up this score as reference in the approval of credit application. To acquire the best interest rates and maintain affordable and low home payments, realtors in Gainesville depend on their clients’ score. They are well-equipped in giving you the cream of the crop.
FICO stands for Fair Isaac Corporation – a rating process used in the prescribed formula from which the calculation of scores is drawn. The creditors and lenders deter from entities with lower scores representing a greater higher risk model. On the other hand, they are continuously eyeing for entities with higher scores to lend to.
A loan with reasonable interest rates cannot be acquired if the FICO score is way too low. The creditors/lenders look for those with high FICO to offer them assistance in securing their business by giving them competitive interest rate and terms. The median FICO score for borrowers in 2010 was 73.
There are three main credit reporting agencies that use the FICO credit model, namely: Equifax, Trans Union, and Experian. The creditors use the middle score number instead of the high or the low whenever they are considering a mortgage application. The lender also determines the rate of interest you will be charged, in large part, on how high your FICO scores are.
Breakdown of a FICO score:
35% of score is based on payment history
30% of score is based on the number of accounts you owe on
15% of score is based on how long credit accounts have been open & the activity
10% of score is based on recently opened new accounts.
The realtors in Gainesville promote responsible tracking of credit history at least once a year in order to make sure that there are no errors. If errors are found, an appeal to remove them could be made. It is vital to protect the credit history from abuse and fraud. Your credit score is important and need monitoring.
Remember to responsibly track your credit history to make sure that there are no errors – at least once a year. Your credit score is seriously important and does require monitoring. If you find errors, appeal to all three agencies to have them removed. Protecting your credit history from fraud and abuse is necessary.
Other Articles to Read:
Short Sale Process – What to Expect
Do I Have to Pay for the Real Estate Agents Commission?
Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.
Short Sales In Gainesville – Avoid Foreclosure, Know Your Options! To save your home from being foreclosed, Short Sale Agents in Gainesville provide you with options. Study these options to know if they apply to your case.
1. You may apply for the federal HARP program to know if you are eligible and to your lender’s preferred loan modification program. To know if there are any state programs available to you, go to this federal site. Also, you may apply to the Home Save program under the NACA.
2. You may try getting a second job. This will help greatly in saving your home although it is not often practiced since most people can’t even find a first job in this market. But for some who can, you should grab the opportunity.
3. You should cancel/pay off your credit card debt. Your credit card debt could be a big factor why you couldn’t afford your home. It’s time for you to consider getting heads on with your credit card debt. You may contact your creditors to make a settlement on your debt. You may also offer a lump sum payment, perhaps 50% lower than your balance. Although this will have tax and credit history consequences but it could be one of your best options in saving your home from being foreclosed.
4. You may start your small home business. Etsy, TaskRabbit and elance are some that allow people to advance their skills in home business.
5. You may consider renting a room. Try advertising in Craigslist or Trulia for long term rental periods. Go into Airbnb and check if you can get interest in renting out your room to individuals who only need shorter periods of lease time. This is a good option to raise funds quickly.
6. You may short-sell your home. On an average, it takes over a year for banks to foreclose on and repossess a home. You may have a chance to wait for a loan modification and do a short sale and be eligible for the income tax exemption which will expire on Dec. 31, 2012 if you list your home for sale with an expert realtor in Gainesville.
7. You should work with professionals such as expert realtors in Gainesville, expert Real Estate attorneys, expert CPA firms like Hanson & CO or expert certified public accountants if you are trying to apply for a short sale or loan modification. These professionals help you be informed about the options available for you.
The downturn in the housing market is now being perceived as the norm and many homeowners are getting pessimistic with their mortgages. But Short Sale Agents in Gainesville encourage you not to give up. Your options in avoiding foreclosure are not limited.
Other Articles to Read:
Short Sale Process – What to Expect
Do I Have to Pay for the Real Estate Agents Commission?
Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.
Short Sale Agents in Gainesville Encourage Homeowners To Take Action – Are you a homeowner who has or had a financed or refinanced mortgage with OneWest, GMAC, JPMorgan, Washington Mutual, Chase, IndyMac, Citi, Wachovia, Wells Fargo, Bank of America, Litton, Saxon, or Ocwen? Or are you a homeowner who had transferred to another servicing agent within 2001-2009? If you are, then you may be qualified to apple for a settlement with the above-mentioned lenders.
Short Sale Agents in Gainesville believe that these lenders have intentionally falsified property value with inflated appraisals, shredded documents, and financed no income- no job- no assets loans, and allotted billions of dollars for settlements; although they do not acknowledge to be accountable. In the years 2001-2009, the creditors/lenders have generated billions in profit from homeowners and they have already foreseen this day. Realtors in Gainesville have discovered that many homeowners will be eligible for a settlement.
A lot of homeowners are experiencing foreclosure or have been dispossessed with large equity. To know your options and establish settlement intentions, Short Sale Agents in Gainesville encourage you to seek the guidance of an attorney specializing in mass joinders. Please check the following links:
Government Sues Banks for Selling Bad Mortgages
60 Minutes: Title companies forged title documents
‘In Progress’ Mortgage Litigation cases across the USA
Bank of America Settling Claims Stemming From Mortgage Crisis
A pre-trial demand/QWR is a means for these types of legal firms to make claim settlements.
They look for cash settlement, rate reduction, and a sizable principal reduction. These firms specializing in mass joinders opt for settlement instead of pleading the case in front of a jury, which is beneficial to homeowners.
So, do not procrastinate. It’s time for you to take action!
Other Articles to Read:
Short Sale Process – What to Expect
Do I Have to Pay for the Real Estate Agents Commission?
Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.
Short Sale Agents in Gainesville specializing on short sales are privileged to report about the rules by the FHA obligating lenders to extend their fortitude to homeowners who are unemployed for the span of 12 months. These rules took effect in July 2011 and are geared toward giving assistance to unemployed homeowners for them to make it through the economic depression.
The original fortitude timeline was limited to four months but the timeline for most homeowners had been extended to 12 months after the prolonged state of unemployment. More than 45% of the unemployed have been hunting work for more than 24 months.
Short Sale Agents in Gainesville believe that homeowners will be given more chances to find employment during this time of economic depression if the timeline for the fortitude will be extended.
In order to prevent foreclosure, a time of review at the end of the 12 months has been implemented to assist the homeowners.
Short Sale Agents in Gainesville Florida are encouraging those FHA borrowers who are having difficulties on their mortgages during extended unemployment status to call their lenders rightaway – now that a special fortitude option is being offered. An FHA borrower will be qualified in getting more assistance than would be available once a loan default process is enforced when they take the time to notify the lender about the unemployment status.
Other Articles to Read:
Short Sale Process – What to Expect
Do I Have to Pay for the Real Estate Agents Commission?
Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.
Short Sale Agents in Gainesville Florida Update – Please let your clients know that if you have a short sale/foreclosure succeeding this year, you may owe income taxes in 2013.
Homeowners have until Dec. 31, 2012 to undergo a short sale or foreclosure without suffering tax consequences – only when the debt has been released by the lender. The rules will change on January 1, 2011. Federal income taxes will be imposed on the amount that the lender forgives in a foreclosure or short sale. Example, if a home has been sold at an amount which is short of the amount owed on the mortgage by $50,000; the homeowners will be charged federal income taxes on the $50,000. The homeowners under the 25 percent bracket would owe $12,500 and those under 15 percent tax section would owe $7,500.
It is necessary for the bank to officially sign off the loan in writing before Dec 31 or else, homeowners would be on the curve even when the home is sold. This law took effect five years ago when the housing market nationwide crashed.
According to the Internal Revenue Service, one of the provisions of Mortgage Debt Relief Act of 2007 is to allow taxpayers to exclude income from the discharge of debt on their principal residence. Qualifying for the relief are debts reduced through mortgage restructuring and mortgage debt forgiven in connection with a foreclosure. According also to IRS, debt that will be forgiven this year would reach up to $2 million – $1 million if married and filing separately.
Short Sale Agents in Gainesville Florida consider it a relief that homeowners declaring bankruptcy could be exempted from paying income taxes on any cancellation of debt income if the debt is forgiven in the bankruptcy even if the debtor is solvent. Homeowners may not be required to pay income taxes on any debt income cancellation if their debts go beyond the value of their properties.
Lenders have been exerting efforts to speed up the short sale process. But there are instances that short sales are disrupted. An instance would be when there is a disagreement with the terms and another is when the would-be buyer chicken out off the deal.
I am not an attorney and the statements above are not legal counsel. Please seek advice from your Attorney or CPA regarding taxes and the implications of your short sale.
Other Articles to Read:
Short Sale Process – What to Expect
Do I Have to Pay for the Real Estate Agents Commission?
Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.
Short Sale Agents in Gainesville: What Gainesville Underwater Homeowners Say – We often hear or read silly one-liners that seem to be not making sense at all. There a lot of this silly stuff circulating in the media too! Just the other day I was listening to an expert on one News talk show and this so called expert had it all wrong on why homeowners Short Sale! I about fell out of my chair! How in the world do National news organizations vet their experts? Originally, twitter embodied mostly comedy writers’ rapid-fire blurbs of silly things young women say. Later on, the spinoff web video series carried the amusement to up the groove.
But as Short Sale Agents in Gainesville perceive it, these videos are hilarious only for those who are connected to a large number of community members being jeered within. This may be attributed to their obsessions, fixations, loves, hates and even passive aggressions that connect the group.
Nothing is different in the real estate community. Let’s get to know some of the seemingly silly yet strikingly real stuff that underwater homeowners say:
1. “The banks inflated the prices.”
2. “Businesses strategically default all the time.”
3. Fill in the blank: “None of us would be in this mess if it wasn’t for _____ .
a.) appraisers
b.) the Fed
c.) McMansions
d.) the banks
e.) the “1 percent”
f.) President Obama
g.) former President Clinton
h.) former President Bush
i.) subprime loans
j.) Wall Street
4. “I applied for a loan modification and they told me the documents got lost.”
5. “The bank said they don’t give modifications to individuals who are current on their payments.”
6. “Can my sister just buy it from me in a short sale, then sell it back to me?”
7. “I’ll lock in my losses – I can’t do a short sale.”
8. “I’ve gotta cut my losses.”
9. “I’m so over it.”
10. “I can’t keep throwing good money after bad.”
11. “I have to do a short sale.”
12. “What do I need to know about doing a short sale?”
13. “I’m going to buy a car, cash in my equity line and then do a short sale.”
14. “If I could just get a principal reduction.”
Short Sale Agents in Gainesville point out that these sayings of homeowners have no relevance if not uniting. It only shows that no matter how you feel at any given point, there are others experiencing the same things and you are not alone in this world. These cliches coming out of underwater homeowners’ mouth may related to I’ve heard, I’ve heard, I’ve heard! They may sound silly but logically, they give out a point.
Other Articles to Read:
Short Sale Process – What to Expect
Do I Have to Pay for the Real Estate Agents Commission?
Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.
Gainesville Short Sales – 3 Questions You Should Ask Before Hiring a Gainesville Short Sale Agent
It is imperative that as a Gainesville homeowner you do your research prior to choosing an agent to work with with considering to short sale your home. Choosing the right agent can make the difference between the success or the failure on your short sale. There is much at risk and you have much to lose if you do not do your due diligence. The short sale can be denied and the home foreclosed resulting in a deficiency that can lead to wage garnishment. It will have a huge impact on your credit and you will not be able to buy another home for over 5 years or more. If you hold a financial position or security clearance you may lose your job and or clearance.
It is just as important that your agent knows how to evaluate the buyer and buyer’s agent to ensure the proper expectations are set. Nothing worse than getting close to the approval letter for the buyer to walk or only be half interested and find this out after spending many hours and time working through the short sale process.
So here are the questions I would ask an agent before hiring any agent!
Question #1: How many short sales have you listed and sold in the past 6 months?
Banks are consistently changing their policies and procedures and you will want an agent that is familiar and experienced in managing these updates.
Question #2: In the past, what lenders have you negotiated short sales with?
There are many small short sale bank lenders, however, your agent should be familiar with the largest banks policies and procedures. Lenders such as Bank of America, Chase, Wells Fargo and Sun Trust are the most prominent with short sales
Question #3: What is your success rate on getting short sales approved? Look at the agent’s track record and ask for specifics about how the transaction was processed, the challenges and how they were able to overcome them. Hard work is shown through diligence and persistence.
Other Articles to Read:
Short Sale Process – What to Expect
Do I Have to Pay for the Real Estate Agents Commission?
Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.
Your Short Sale Agent Stephanie Anson
