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What Available Short Sale Programs Exist | Gainesville

What Available Short Sale Programs Exist | Gainesville

There have been rumors circulating that some of the larger real estate brokerages team up with banks. As a result, these partners are provided with the contact information of clients – who are 30/60/90 days late on their payments— by the servicing lenders. Consequently, agents contact these prospects and make themselves known as short sale experts that are partnered with the borrowers’ lender. A program called “Short Sale Alternative Right Party Contact Program”  has been officially provided for agents who accomplish a 10 Question Test and handle a Distressed Property Certification (e.g. 5Star, CDPE, SFR).

To be a short sale expert, you merely have to take an 8-hour lesson on short sales and pass a 10-question test.

Some Gainesville homes for sale high-points:

1. The Cooperative Short Sale Program can be taken by borrowers accordingly. The program is custom-built to benefit Bofa instead of the borrowers. BofA informs the agent what they can sell the home for. If, after 4 months it doesn’t sell at that price, a deed-in-lieu is enforced, and the home recurs back to BofA.

2. A Customer Relocation Assistance worth about $2,500, to help with moving and rental expenses.

3. Borrowers are required to sign the Cooperative Short Sale Acknowledgement of Interest, Listing Agreement (with list price to be marked TBD), and Customer Agent Option Awareness disclosure forms, which is unlikely to protect the borrower.

4. An “Escalation Tool”, that provides agents a “useful way to connect to a short sale professional’s team that can aid in resolving issues that prevent a short sale from proceeding”.

Gainesville homes for sale pinpoints disclaimers:

1. The relocation Assistance payout amounts are currently being reviewed and change is likely to occur. The question is, “Do they really go up?”

2. This information is not intended or authoriized for consumer distribution.
For real estate professional use only. This program seems appropriate for buyers if they prefer the program details not to be disclosed. Nationwide,  agents have publicized the program on the internet. To view a copy click here. Articles questioning this program are piling up on the blogosphere. A particular brokerage has special access on the consumer’s personal information. A special escalation tool to speed up the short sale process with Bofa is being provided to this brokerage. As a result, clients could possibly be provided with $2,500 for relocation assistance. Some major problems about this program may arise with borrowers who are facing a short sale. One major red flag on this program is its claim that, “An agent’s past performance may affect future allocations”. It simply implies that as their partner agent, they shouldn’t follow the rules because they will not obtain anymore leads.

Lenders simply do not provide new programs that will aid the borrowers. It’s unlikely for the partner agent of Bofa to act for your best interest. These programs are more likely to benefit them.

Be cautious when a lender refers a so-called expert Gainesville short sale agent. Always make your assessment whether this Gainesville short sale agent is truly concern about your best interest.

Other Articles to Read:

Gainesville Short Sales Hiring Incompetent Short Sale Agent

Short Sale Top 10 Questions

 

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.

  

Support Florida’s Super Exemption

Good news for homeowners! A constitutional amendment Tallahassee has been proposed and is advancing. This amendment will give a break to homeowners and enable them to preserve their property rights. Support by contacting your state legislators to encourage them to pass this amendment.

Here’s what in store for Florida homeowners when the amendment is passed:

A super exemption will be given to Florida residents who have homes serving as their homesteaded property. Their current exemption is $25,000. The range of exemption will be 15% to 30%, depending on the fair market value of the home. For a home with a market value of $300,000 and taxed for $250,000, the taxable amount will go down to a total of $205,000 – a super exemption of $45,000.

A $37,500 worth of exemption will be given to a home with a value of $300,000 and has tax amounting to $200,000, which will result to a total of $162,500 revised taxable value.

A super exemption of $21,000 and a new taxable value of $124,000 will be given to Florida homeowners who have lived for a long time in their homes with a $300,000 value but taxed at $145,000. However, the exemption would not be applicable since it is lower than the Save Our Homes benefit of $105,000.

Homeowners will not be eligible for exemption if they are considered a snowbird who have paid $45,000 for a condo which now has a value lower than $25,000. The exemption is greater than the value of the home. You will be eligible for a snowboard exemption if the value of the home goes up to more than 7%. If the value of the home where the homeowner have lived for a long time is $1 Million but being taxed at $700,000, the revised taxable amount would be $632,500, with a super exemption of $67,500. But since the homeowners’ Save Our Homes exemption would surmount the super exemption, the super exemption will not be provided. In such case, the Save Our Home exemption would be $250,000.

The Save Our Homes exemption and the Super exemption will not be given at the same time.

The Save Our Home exemption will be reduced from the Super exemption. Homeowners will not get the Super exemption if their Save Our Homes exemption surmounts the Super exemption.
In case the Save Our Home exemption does not surmount the Super exemption, homeowners have the benefit to deduct the Save Our Homes exemption from the Super exemption.

Florida does not want to punish new homeowners.
Punishment will not also be given to homeowners who have lived in their homes for a long time. It has been ensured that both existing and new homeowners would benefit from the exemptions.
Florida also avoids letting homeowners sell their homes to acquire a new one with an exemption that is better.
Tax appraisers will not be able to increase the assessed values – whether owned by a homesteaded resident or a non-Florida resident for above 7% per year – and this is the best part of the amendment. At the appraised increases of 10% per year, which is the current rate of increase when prices go up, snowboards will not be taxed. Instead, if the value of the property goes up by 7% or more per year, they will be topped out at at most 7%.

The amendment will be carried on to the voters if it passes. This will generate less revenue for cities and counties, which they do not want to happen. The best way to cut out expenses and reduce taxes imposed on everyone is to privatize more of their projects and services and it’s hard to understand why they don’t take this course of action.

It boils down to being in a private property rights issue. Real estate agents vouch to defend and support private property rights by joining the NAR. All should give importance and pay attention to their state legislators and local and county rules. It’s a call for everyone to be involved and take action to uphold private property rights. Be informed about this issue and prepare to be in defense of these property rights.

The fair tax system will improve the free transferability of properties. By taxation through economic growth and people using their money in their locales, the cities and counties will compensate for the losses of income.

Other Articles to Read:

Banks to Prove they Own Note to Foreclose

Is the Nation ready to lose Fannie Mae and Freddie Mac?

When Can you Own a Home Again After Foreclosure?

Gainesville FHA Home Buyers – FHA Fee Hike

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 – Why do Short Sales Not Close?

Gainesville Short Sales – Why do Short Sales Not Close?  How many times have you heard about that bank short sales do not close? When I speak with clients who are interested in getting a great deal through buying short sales, they are consistent in saying that short sales either do not close or take over a year to short sale.  I also hear this from Gainesville Real Estate Attorneys who refuse to handle short sales. Additionally, there are agents that act as if they understand short sales and make demands about timelines and statements without understanding how the timelines work and short sale process actually works.

What is the main reason you are not closing your Gainesville short sales?  Do you truly understand how to short sale?

  • If your ratio of closing short sales is not over 90% then you should not be listing short sales and you should refer them to a Gainesville Short Sale Agent that achieves this success rate or better.
  • Are you completing an evaluation with each seller prior to listing their home for a bank short sale.  This critical first step will provide you the information whether the home will close or not.

The last thing anyone should do is sacrifice a homeowner by getting a listing without taking into consideration you are gambling with their home and livlihood.  Not every homeowner will qualify for a short sale or are willing to dedicate themselves to the process.

Here are a few steps each Gainesville Short Sale Agent needs to verify and clarify prior to taking a listing:

  • Review the short sale package the seller turns into you – this should be completed prior to listing their property for a short sale and it will reveal whether there will be any issues that need to be addressed before listing the home.
  • Make sure the seller understandts the short sale process – You will know upfront if they are motivated to provide you the information necessary for you to help them through the process and if they are committed to participate, if you complete the intake properly there should be no reason for the short sale not to close.
  • Do not give up on the lender, do not give up on your seller (remember this is a very emotional process), do not act like a debt collector. This means you need to be the advocate, the one that brings the parties together for a successful close, the short sale agent that is dilligent, consistent, honest and assertive.
IF the seller is going to get foreclosed on next week- you don’t LIST the short sale! 
The odds are in your favor if you know how to negotiate a short sale that you will get your short sales closed. 

If you do not then you need to take a good negotiating course and short sale course such as the one offered by Katerina Gassett who has authored Short Sale Success. Do not take the listing if you lack the experience.  Additionally, you can work with an experienced agent and help them with their bank short sale listings. Yes they are time consuming and can be tough.  There may be days you speak to over 10 people at one short sale bank to get the right answer or to speak with someone who knows what they are doing!

Other Articles to Read:

What Gainesville Underwater Homeowners Say

Gainesville Short Sales – Know Your Options

Short Sale Top 10 Questions

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 – What is the Difference between Note or Promissory Note and Mortgage or Deed of Trust?

Gainesville Short Sale – What is the Difference between Note or Promissory Note and Mortgage or Deed of Trust? A note (promissory note) is – very simply – a contract whereby a party makes a promise to pay a sum of money to another party under specific terms. In real estate, it is typically a borrower agreeing to make monthly payments of principle and interest over a period of time to a lender.

The note has nothing to do with the property itself, and can technically exist without any collateral at all. If the Gainesville borrower doesn’t pay, the LENDER or short sale bank can sue “under the note and obtain remedies for breaching that contract. A “servicer” aka “debt collector” cannot if they have no equitable interest.

While there are differences between a mortgage and a deed of trust, let’s ignore them for a moment, and use the term mortgage.

A mortgage is actually a transfer of an interest in property. While a mortgage is tied to the underlying debt created by the note, it is not a promise to pay the debt. It really isn’t a “promise” to do anything. Instead, it contains “granting” language – like a deed – which gives the lender the right to take the property if the borrower goes into default and doesn’t pay under the terms of the note signed in blue ink. There are clauses in the loan that allow for this to happen such as the acceleration and due on sale clauses.

Key Differences of Note and Mortgage

A note is singed by the people who agree to pay the debt.
A mortgage is singed by those who own the property being mortgaged. In a typical residential setting, signers of the note and the mortgage are the same, but they do not have to be.
A mortgage needs to be recorded in the county or town recording office, the note does not. Instead, the note goes directly to the lender. This is the “instrument” that secures the “note” to the house.

Other Articles to Read:

Mortgage Relief For Unemployed

Foreclosure News Reports On More Loan Transferring

Short Sale Agents in Gainesville Encourage Homeowners To Take Action

Short Sale Agents in Gainesville – What Gainesville Underwater Homeowners Say

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.

  

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How to Avoid Short Sale Scams

How to Avoid Short Sale Scams

As a homeowner in distress and looking for answers, the first question you want answered is what is a short sale, Can I short sale and then you want to know how to short sale, who to speak to and what Gainesville short sale information is reliable.

Here are a few recommendations to pay attention to when wanting to know how to short sale in Gainesville. If a short sale company calls you and guarantees you a short sale be very skeptical. There are too many variables and unique circumstances of every homeowner for a Gainesville short sale to be guaranteed.

If a short sale company or Gainesville short sale agent wants to charge you money up front then you need to call the state Attorney General’s office because it is illegal in the state of Florida for any company to charge you an upfront fee to short sale your Gainesville home. Attorneys can charge a retainer fee and are the only exception to this.

As an agent when answering how to short sale a common question I get pertains to companies or investors that say they will buy your home and process the short sale and whether or not they are a legitimate avenue in how to short sale. If they want you to sign over the deed to your Gainesville home; do not in any circumstance enter into this type of transaction until you have done your homework. While there may be some legitimate companies out there most are not.

You should never sign over the deed in any circumstance; this third party may persuade you to do so because they will now have control over what happens with the sale of your home. The companies that advertise they buy ugly houses or we will pay cash for your home no matter how much you owe should be held at arm’s length

You need to first to know the answer to Can I Short Sale my Gainesville home. Attorneys can charge you a retainer fee and they can also process a short sale for you. There is not guarantee that your short sale will close. Short sale banks are not required to do short sales and they are constantly changing their policies and procedures.

Be very careful who you share your personal information with. We will do an intake evaluation interview with you over the phone and our conversation is confidential. We then will do another consultation where we will cover the short sale process, explain our staff’s responsibility as it pertains to you and answer any questions you may have.

Other Articles to Read:

How Long is a Short Sale?

Why Don’t I Just Let the Bank Foreclose?

What Can a Short Sale Agent do for Me?

3 Questions You Should Ask Before Hiring a Gainesville Short Sale Agent

Call Stephanie Anson today at 352-535-0620 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.

  

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Gainesville Short Sales | What Can a Short Sale Agent do for Me?

Gainesville Short Sales | What Can a Short Sale Agent do for Me?

As a Certified and Accredited Gainesville Short Sale Agent Specialist, I will meet with you face-to-face to talk about your unique situation and help you understand what options and programs are available to you.

As Gainesville Short Sale Agent, I will walk you through what a short sale means to you, options to avoid foreclosure, explain the documents you will need to provide to your mortgage company, how to work with your lender if they are calling you, list and market your property if it is the right solution and in many cases, I will handle the entire process of working with your mortgage company for you. We will first discuss what is a bank short sale, judicial foreclosure, what is a judicial foreclosure, how long is a short sale, how it will affect credit and answer your question of can I do a short sale.

As a Professional Gainesville Short Sale Agent you can rest assured that I will never assess any charge for the assistance I provide to you. As a Certified Distressed Property Expert from the Certified Distressed Property Institute, I have been trained and certified to help homeowners take action to proactively resolve their mortgage situation.

I volunteer my time to provide you, the homeowner, with as many hours of consultation and assistance that might be needed; from helping you understand how to write the short sale hardship letter to working through the offer with the short sale buyer.  I process your file and negotiate with your mortgage company, at no charge to you.

From the beginning of the short sale process in Gainesville FL to the successful closing on the sale approval of the home, I make sure that your interests are respected, your choices are adhered to and your financial interests are protected.

As a Gainesville Short Sale Agent, I advocate on your behalf in order to get you results you can count on, with integrity you can trust in. Your future can improve with one phone call. Together we will discuss your options and sort out your best approach. We communicate with lenders, banks and buyers to negotiate the best options for a closed short sale.

When you’re looking for a Gainesville Florida Short Sale agent with superior local knowledge, experience, professionalism, integrity, and personal service –  Stephanie Anson brings them all to serve you.

Other Articles to Read:

Short Selling and Renting from the New Owner

Distressed Sales Still Depress Home Prices

Will Florida Speed up the Foreclosure Process?

Loan Modification Failures Are Rising

 

Call Stephanie Anson today at 352-535-0620 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.