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How your family’s expenses and income determines your Gainesville Short Sale.

How your family’s expenses and income determines your Gainesville Short Sale. In a short sale, it is not always a walk in a park. There are numerous possible results of your short sale. May it bring dismay or a positive outcome for you. There are no guarantees. Everybody will do the best to have the short sale closed, but the process is not always easy. There are lots of twists and turns.

As a seller, put it in your mindset that you will pour out a huge commitment in every short sale deal and be prepared of its result. If you are not  sincere in finishing a short sale then it is a waste of your time and other people’s time as well.  There are instances wherein sellers backed out in the middle of the deal especially when signing notes or some cash is needed.

The business of short sale is all about taking chances. Your attorney has a power to draft a supplement demand to oppose the offer of the buyer that says if the seller do not have the same opinion with the lender, then the seller has  the choice to not close and there will be seen as an act of evading on the seller’s side. At several moments, a deficiency is still okay than a foreclosure deficiency.

Every homeowner should realize that one should make an estimate of expenses for qualification. As an agent, you have to guide these homeowners to have their estimates right. One of the most under reported expenses is about child-related expenses that involve babysitters, school fees, and expenses for baby’s needs.

Monthly expenses are suggested to be monitored during grocery period. For a family consisting of 4 members, lenders would usually acknowledged $800. Please use this amount and adjust this according to the size of your size of your family. Take note that even if the baby is not yet born, you have to add the babies’ cost of expenses because there’s a huge possibility that the baby would already be born when your short sale is approved.

Evaluate the total monthly expenses and income. For instance, a family of four has a monthly income of $5000 each month and their mortgage payment is $4000 a month, Therefore the family is in financial hardship. Most of the time homeowners have a huge possibility that they would qualify for a short sale because mostly, expenses exceed the family’s  income.

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 352-260-0153 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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Short Sale Guidelines Keep Gainesville Homeowners Happy

Short Sale Guidelines Keep Gainesville Homeowners Happy

Short sales are rising this year and it will eventually rise because of federal regulators who manage Fannie Mae and Freddie Mac. They made paperwork more efficient and offered an option to second-lien holders up to $6,000 to accelerate the process of short sale as announced by Federal Housing Finance Agency months ago. Fannie Mae and Freddie Mac will not even require records from borrowers who have missed paying loans; have small credit scores, or those who are struggling financially.

Of course, there are borrowers who pay up-to-date. These people will be given more time to process their short sale and also those who are facing difficulties like divorce, employment layoff, death in the family, disability, and others.

People from the military are quite lucky because they are automatically entitled for short sales even if they have existing mortgages, and they will be excused from insufficiency of payments if ever.

Homeowners who have enough income are invited to contribute funds to cover a fraction or all the part or the entire deficit among the outstanding loan balance and the home prices.

Days ago, the new guidelines set by National Association of Realtors have taken effect. It is connected to the guidelines that FHFA, Fannie Mae and Freddie Mac have set.

Guy Cedala, publisher of the trade publication Inside Mortgage Finance, told the Wall Street Journal that the $6,000 given to second-lien holders is not enough to halt a short sale. However, NAR added that with this it will allow families to avoid foreclosure. Short sale will also help the real estate market by alleviate the home values and keeping the neighborhoods busy while recovering.

Other Articles to Read:

Possible Outcomes If your Short Sale Approved

Preparing for a Gainesville Short Sale

Amount of Home Loans Increased as Rates Slides Downward

Gainesville Short Sale Cost

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. Gainesville Short Sale Agents

  

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IRS gives leeway to Taxpayers victimized by Hurricane Sandy

IRS gives leeway to Taxpayers victimized by Hurricane Sandy
Hurricane Sandy left a lot of work for American households. The last thing that you want to worry is being able to file IRS tax and make payments ahead of deadline. Good news is that IRS understands what most of the people from the East Coast are going through and they are willing to help.

For federally declared disaster, IRSmay reschedule various tax deadlines for taxpayers who are living near the affected area by as much as one year.

This applies to: A. an individual whose primary residence is situated in the disaster area; B. any business entity wherein the location of the business place is a covered disaster area; C. taxpayers who are not in the disaster area but will have to meet an IRS deadline in the area; D. a relief worker helping in a covered disaster area; E. a husband or wife of the taxpayer for intentionally filing a joint tax return; F. any person who was visiting the covered disaster area and was killed or injured as a result of the calamity.

The benefits mentioned above are automatic. Taxpayers are not required for anything except that they belong to one or more categories. IRS will terminate any interest, late payments, and late-filing penalty.

The deadline for hurricane Sandy victims are already moved. IRS already moved the date to Nov. 7 instead of Oct. 31 for taxpayers and tax preparers to file returns and tax payments.

Furthermore, IRS is on the course of postponing other tax deadlines for those taxpayers that were affected by Hurricane Sandy. Any announcement to make in the future will be posted in Tax Relief In Disaster Situations Web Page.

In the Federal Emergency Management Agency (FEMA) website, one can easily locate a county if it is included in a federal disaster area.

If you live in the Sandy disaster area and receive a penalty notice from the IRS, it is advisable to call the telephone number on the notification to have IRS lessen or terminate the interest any late-filing or penalties that would be due.

Other Articles to Read:

Wells Fargo got the Case, Mortgage brokers are to be blame

Increase in prices saved millions of Homeowners across America

Amount of Home Loans Increased as Rates Slides Downward

When Can you Own a Home Again After Foreclosure?

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 Sale Agents

  

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Discrimination Against Minority Homeowners Brought Suits to Morgan Stanley

Discrimination Against Minority Homeowners Brought Suits to Morgan Stanley

Morgan Stanley, an investment bank, received a lawsuit from American Civil Liberties Union(ACLU)regarding the discrimination it had done against African-American borrowers by offering incentives to lenders so that mortgages proves costly and risky but profit from buying and guaranteeing loans.

According to ACLU, the complaint against Morgan Stanley is first class-action lawsuit in order to associate discrimination to the securitization of mortgage-backed assurances. It’s just ironic because the suit is against Morgan Stanleynot against the subprime lenders wherein the loan originates. Since it is class-action status, it stands for 6,000 African-American homeowners in Detroit urban area.

On behalf of 5 Detroit inhabitants and a nonprofit legal aid group Michigan Legal Services, there are four groups that filed a complaint in the U.S District Court of New York. These are ACLU, ACLU of Michigan, the National Consumer Law Center, and Lieff Cabraser Heimann & Bernstein (a San Francisco-based law firm). The suits contend that Morgan Stanley violated several state laws including Fair Housing Act, Michigan-Larsen Civil Rights Act, and Equal Credit Opportunity Act by urging now-useless New Century Mortgage Corporation to target African-American communities and borrowers in the Detroit area for particular dangerous loans.

One complainant said that a black borrower is likely to acquire a high-cost loan compare to a white borrower. Another complainant mentioned that Morgan Stanley influenced New Century with the kinds of loans it issued. The complainant continued by saying that the loans are dangerous for borrowers because it has a characteristic of risky features that put borrowers toward evasion and foreclosure.

Of course, Morgan Stanleyreacted that it will defend itself “vigorously”. According to the ACLU, New Century’s largest customer of subprime loans is Morgan Stanley. ACLU said, “The investment bank encouraged New Century to ignore all of the most basic fair lending principles in order to create a large number of mortgages that could be processed and sold as securities.”

It is definitely heartbreaking to hear such words coming from ACLU executive director, Anthony D. Romero, that financial services are doing such practice and in fact it had become common during the housing boom to target African-American and Latino neighborhoods countrywide.

Other Articles to Read:

High Achievers in FICO credit scores

How to make buyers want to buy Gainesville Short Sale Homes

Gainesville Short Sales – Why Don’t I Just Let the Bank Foreclose?

Amount of Home Loans Increased as Rates Slides Downward

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. Gainesville Short Sale Agents

  

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How to make buyers want to buy Gainesville Short Sale Homes

How to make buyers want to buy Gainesville Short Sale Homes With the recovering market nowadays, you get different kind of buyers. My role as Gainesville real estate agent, specializing in short sale, has done with finding deals that are so good that the buyers can’t resist. One of the goals in the real estate market is to make them feel that it is a great loss if they will not purchase a certain listing.

Your buyers should feel afraid of losing the house to other buyers if they do not purchase it right away; to be able to make the buyer really like the house and creating this desire to buy.

Before scheduling the house to the prospect buyers, it is important to cultivate mutual trust and know what their needs are, put their lifestyle in mind. On the showing day, you must surprise them by exceeding their expectations.

The best sales are when buyers get to have listings, prices, and the agreements they could not resist. You have to make them feel that their decision is needed right away before they drop the chance.

I know too well it is quite hard to sell homes under short sale because some home buyers prefer “new homes’. For new homes showing them sometimes requires GPS, and some agents even put automobile as a requirement. Make your introduction sleek and give more time for your prospects to understand the deal all throughout the showing phase. The urgency here is to get the prospect buyers excited in living in the new house.

Give your buyers an ample time to decide, options that are positive on their side about the home that they most likely to purchase, and also a positive feeling of themselves.

Aside from creating an irresistible feeling to the buyer, it also matters if the physical state of the home that you’ll show is in good condition. If it was built decades ago, then it is best making at least it look neat and presentable. For more info about marketing your short sale, here are other strategies.

Other Articles to Read:

Gainesville Short Sale Cost

Discrimination against African-American homeowners brought suits to Morgan Stanley

Defending your Gainesville Home against Foreclosure

Fraudulent Short Sales and Passing the Hardship Test

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 Sale Agents

  

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Defending Your Gainesville Home Against Foreclosure


Defending your Gainesville Home Against Foreclosure

Each state is governed by different foreclosure laws and procedures; it is advisable to have an attorney to help you with your decision regarding foreclosing your home.

In Gainesville Florida, buying a property means owning the deed of the house by a statutory warranty deed. This deed is very important; keep it at all times and must be with you when you decided to close your home and began doing the paperwork. With this, this makes Florida a deed state.

The course of foreclosure process involves court procedures. As a homeowner, you have the right to represent and defend yourself versus a foreclosure. The lender cannot just foreclose your property, it is a must for the lender to go to the court, find an attorney for you to hand in the deed to them. With this, it might a long time to get the results of your foreclosure.

There are sequence of events that might be applicable in Florida:
• When you are a Gainesville homeowner whose not paying your mortgage payment up-to-date,
• Expect a call from your lender and a
• Letter of late payment
• If payment is still not made, the lender will send a demand letter
• Lender will file Lis Pendens. Lis Pendens is a notice to foreclosure and summon against the homeowner.
• You have 21 calendar days to reply to the complainant and answer the court.
• The lender is allowed to put your property in the local newspaper including the location, but it must be approved by the judge. This is done if you avoided the process or have left your gainesville property and did not leave a forwarding address.

It will take 90 days to 24 months for your house to be on sale on the ‘courthouse steps’. It is recommended for you to get your own gainesville foreclosure defense attorney. They know how to delay the foreclosure. With the given timeframe, it will allow you to still obtain a buyer and put your home on Gainesville short sale and closed.

During the process, it is essential for you to respond to all of the summons and complaint. Let your attorney handle the responses and have a short sale agent to take care of selling your house. Always be present when the court requires your presence. Get in touch with Alachua’s county court clerk’s office to know the requirements when filing a response. If you can’t afford an attorney, your court house might be able to help you with this. If you are looking for the best Gainesville short sale agents and realtors so pls check this out.

Other Articles to Read:

Bank of America’s Cooperative Short Sale Program

Banks Are Calling Homeowners To Solicit Short Sales

Options To Prevent Gainesville Foreclosure when Unemployed

Do I Have to Pay for the Real Estate Agents Commission?

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. Gainesville Short Sale Agents

  

Gainesville Short Sale Agent and Attorney Communication

Gainesville Short Sale Agent and Attorney Communication
Short Sales sometimes carry a bad stigma when it comes to the amount of time it takes to work through the short sale process. Though short sale lenders are improving their process timelines there is still much to be said about taking 4 – 6 months to work a file and keep both the buyer and seller on pins and needles.

It is important to have an attorney as part of your short sale to assist in answering any legal questions that may arise. If legal counsel is sought I would recommend doing so in the very beginning. You will also want to ensure the attorney you speak with not only handles (processes) short sales but also has plenty of experience. There are many attorneys out there that are great and those that have not navigated short sales, do not understand how to work with the banks and look out for their bottom line. Please make sure to do your homework on the attorney you hire and find out how experienced they are.

If and when you decide to bring an attorney on board it is imperative that you communicate with your short sale agent. Lack of communication and not having both your attorney and short sale agent on the same page can be detrimental to your short sale. You very well may experience delays, file holds, and refusal from the bank to work with your short sale agent.

Even if you provided your Gainesville Real Estate Agent authorization to work with the lender, bringing an attorney in after the file is established can prevent your agent from moving the file forward. The attorney must provide authorization as well for the short sale bank to continue to communicate with your agent.

I had a client who took advice from a friend and hired an attorney midstream of the short sale. I was not informed up front prior to the attorney contacting the lender and the file went on hold. The attorney was hired for short sale approval letter advice only but it prohibited me from having any communication with the negotiator until I was able to get a written and signed letter on letterhead from the attorney stating I was authorized on the account. Unfortunately, the attorney right after being hired was to be out for 4 weeks on medical leave and the file was unable to move forward.

The negotiator needed information from a representative of the file and I was unable to help since I needed the attorney authorization and the he was no where to be found. Since he was his sole office, no partners, I was unable to have another attorney provide it on his behalf. I had the seller contact the lender directly and write a letter stating they no longer were working with the attorney and wanted to file to continue. The negotiator demanded a letter from the attorney stating so. The seller finally retained another attorney to write the letter and provide the representation in order to prevent the file from being closed and from losing the buyer.

We had a successful closing but not without some unneeded delays and additional work on behalf of many parties involved.

Other Articles to Read:

Why Don’t I Just Let the Bank Foreclose?

3 mistakes to avoid when short selling your Gainesville home

Gainesville Short Sale Cost

My Gainesville Home Need Repairs, Can I still Short Sale?

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 Sale Agents

  

Why Closely Monitoring a Gainesville Short Sale is Important

Why Closely Monitoring a Gainesville Short Sale is Important

Anson Properties received a short sale approval yesterday and from the start, working with the lender proved to be extremely difficult. We’ve jumped through several loopholes while maintaining as much patience as we could muster. The homeowner’s loan was transferred from their lender to ServiceLink for processing as a short sale and in doing so the loan number was changed. First of all the seller was not notified of the transfer until weeks after it took place, thus delaying our short sale communication. I would email and call and leave messages with our assigned negotiator at the original bank, with zero response in return. After 2 weeks of persistence I finally had enough and escalated the file to a supervisor which took an entire day of phone calls, transfers and being on hold. I was determined to get to the bottom of it no matter how much time it took. Once I finally was able to speak with a supervisor I was then informed that the file was transferred to ServiceLink.

The problem with this is that we will have to start the process all over again and the paperwork will have to be re-submitted with the new account number. This means the comprehensive short sale file will have to be redone with the new account information and resubmitted. Only problem is that we did not have the new account info. I hop on the phone with ServiceLink and knowing how to navigate the waters had to reference the file by the seller’s social security number. Not to my surprise they are unable to find the file. I walk them through how the file came to them so they can check with the appropriate department and I refused to get off the phone until I verified they had the seller and their account in the system and also obtained the new loan number. This took up my entire morning to resolve something that is not rocket science guys! Do you think they could stand for some process and policy improvement here?

I updated all the paperwork and submitted it to ServiceLink and we continued down the short sale negotiation path. Within about 2 months ServiceLink finalized their review, BPO and provided a Short Sale Approval Letter. The buyer and seller were in agreement in terms, we started the inspection and buyer loan process and low and behold the file is transferred again! Now it is with Seterus. Are you kidding me? We have a valid short sale approval letter.

Here is why maintaining correspondence and a log documenting conversations, points of contact with dates and times are so important. I spent 2 additional weeks speaking to supervisors to overcome the file transfer. This is important because Seterus wanted to start the process all over again and I was just not having it and our Short Sale Approval Expiration was coming up. After jumping on some desks as I like to call it and spending hours on the phone escalating the calls to supervisor, department head and finally VP did I get it resolved. I was successfully able to have the approval letter date extended to cover the delays caused by these institutions and made the closing happen.

This is why it is very critical you have an short sale agent on your side that knows what to do and does not take no for an answer. If agents do not stay on top of their files and do not follow up consistently this could have ended with no sale, seller in default and several upset parties.

Other Articles to Read:

Possible Outcomes If your Short Sale Approved

Why it is Important to Understand the Short Sale Process

Gainesville Short Sale Agents Rent To Buy Scheme

Gainesville Short Sale Qualification Process

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 Sale Agents

  

Fraudulent Short Sales and Passing the Hardship Test


Fraudulent Short Sales and Passing the Hardship Test

Important Tip: Ensure you have not made any misrepresentations on your mortgage application for your original note, home equity line or second notes. If your income is misrepresented in any way, it may be considered a mortgage fraud. If your hardship letter is not legitimate, please seek counsel from an attorney.

Agents should not list fraudulent short sales as it will put them and their seller at risk. Lenders will eventually require homeowners to submit proof of financial insufficiency, tax returns and wage information.

Fraudulent short sales are rare, but should you be involved unknowingly, make sure to execute a hold harmless agreement. Obtain a draft agreement from your attorney and have the homeowner sign.

Passing the hardship test is the very first part of the qualification process. Evaluate the seller over the phone to determine if the short sale will be viable. Should the homeowner fail the hardship test, the homeowner should agree to take a part of the deficiency or sign a promissory note. But this now depends on the lender.

The Gainesville short sale agents has had strategic short sales approved where cash contributions was not required. But you will not know that first hand, so the seller should agree to help right from the beginning. It’s great if they don’t have to contribute, but what happens when you find out at the end that they are not willing to apportion? It will be a great trouble then.

If unfortunately they don’t qualify and have to leave their home, then there will only be three options available to them: a deed in lieu, foreclosure or a bankruptcy. Ascertain that the seller is not in the middle of a loan modification process while filing a short sale this is because most lenders will not allow these two to be processed at the same time. If the seller’s loan modification has been denied, then you can use some of that document to process for the short sale.

Other Articles to Read:

Bank of America’s Cooperative Short Sale Program

Banks Are Calling Homeowners To Solicit Short Sales

Options To Prevent Gainesville Foreclosure when Unemployed

Do I Have to Pay for the Real Estate Agents Commission?

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. Gainesville Short Sale Agents

  

Gainesville Short Sale Qualification Process

There are good attorney in Florida who can delay foreclosures only if you need to complete a part of the short sale process. Gainesville short sale agents do not suggest taking a listing and negotiating a short sale for homeowners who are about to lose their property in the same week as it is listed.

There is no guarantee a short sale could get approved, but following these steps will increase its chances.

A Short sale has to meet certain guidelines imposed by the homeowner’s lenders before it could get approved. A good story will help a lot. Keep in mind that there are exceptions to rules. Gainesville short sale agents have had short sales approved despite not meeting the guidelines.

Make sure that you pass the hardship test or, otherwise, you may have to directly participate financially in the short sale. This is not always the case. But it would be good to prepare them for the worst case scenario and then negotiate for the best outcome.

If you persevere and focus your time and energy to the process, your Gainesville short sale agent can get even the most challenging and troublesome short sales approved. But of course, much of the outcome rests in who owns the note, as each lender has their own regulating policies. Even so, the Gainesville short sale agents have been able to get exceptions to those rules.

It is a long-term and common belief among sellers and agents that whoever the sellers are paying their mortgage payments to owns the note. That is not typically the case. What they don’t know is that these notes are being sold over and over again and they usually do not change the servicers. They need not notify you when your note gets sold. However, you must be notified when your servicer is changed.

The servicer may or may not own the note. Before pricing a house or taking a listing, it is important to find out who the note owner is. Getting this information will help determine how negotiations would be handled and what the note owner would expect in a short sale.

The servicer definitely doesn’t want you to go above their heads to the note owner. The note owners hire servicers to take charge of daily operations of payments and other servicing details. If you are an agent, you may or may not get this information when you call the servicer.

Servicers usually disclose the note owner only to the homeowner. The best thing you could do as a seller is obtain this information through the calling the servicer. Alternatively, you may send a written request to the servicer through a Qualified Written Request (QWR).

At present, Fannie Mae or Freddie Mac owns the majority of notes. They are buying up all the toxic mortgage backed securities. There is a high chance that you have a note owned by Fannie or Freddie.

Other Articles to Read:

Bank of America’s Cooperative Short Sale Program

Banks Are Calling Homeowners To Solicit Short Sales

Options To Prevent Gainesville Foreclosure when Unemployed

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 Sale Agents

  

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