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High Achievers in FICO credit scores

High Achievers in FICO credit scores
Several potential homebuyers got frustrated because the standard for mortgage lending has become tougher, however most admired credit scores nowadays exposed some conducts of high-fliers that possessed FICO scores over 785.

San Jose, Calif-based Fair Isaac Corp.mentioned that people who occupy this population are about 50 million, a total of about a quarter of all who have credit scores. These individuals are believed to be high achievers and have comparable credit behaviors in spite of different background. Some predictable credit behavior is that they don’t exploit the use of their credit cards, kept little rotating balances comparable to what their presented credit, and are consistent about paying. On the other hand, they are not debt-free. They usually own seven credit cards with open and closed accounts. 1/3 of them have balances on nonmortgage accounts.

However, almost none has an overdue account. 96% have credit reports that do not have overlooked payments, and those who have one have already settled their accounts way back approximately a span of four years ago.

FICO scoresrun from 300 to 850 usually used by creditors to measure credit risk and the probability that a borrower will recompense a loan. The credit score can determine how much is offered to the lender and the period it will cover; a greater credit score can influence the amount that definitely will save thousands of dollars over the course of the loan.

Since last September, Ellie Mae Inc.reported a standard credit score of 750 with lenders paying an average of 22 percent. Moreover, applicants with FICO score of 704 were denied.

Fannie Mae and Freddie Mac gave an average FICO score of 762 in order to be considered eligible for purchasing mortgage, while loans with scores 701 on FHA-backed purchase.

The FICO scoreis calculated using the person’s payment history, and how he/she managed his/her credits responsibly as time gone by. An example is, by compensating monthly at least the least amount of all credit cards.

A person’s FICO score can be a roller coaster ride depending on his mood to make payments. By law, most negative data are removed from credit reports after several years of establishing a good track record.  However, this does not apply to tax liens or bankruptcy as stated in Chapter 7.

With a challenging economic period, these high achievers are not perfect but are usually consistent in paying. It is good news and it’s never too late to go up again if you are plunging downwards.

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

  

Gainesville Home For Sale – 6736 SW 45th Avenue


Gainesville Short Sale-6736 SW 45th Avenue


Overview
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$34,300
Single Family Home
Main Features
2 Bedrooms
1 Bathroom
1 Partial Bathroom
Interior: 942 sqft
Location
6736 SW 45th Avenue
Gainesville, FL 32608
USA
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Stephanie Ann Anson

Anson Properties LLC
(352) 260-0153
sasjrussell@gmail.com
http://www.floridahomesalesearch.com

       

Listed by: Anson Properties LLC

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Pricing of your Gainesville Short Sale

Pricing of your Gainesville Short Sale Pricing the property right will have a greater chance for it to sell. There is a strategy to pricing depending upon several factors. This will depend upon condition of home, last mortgage payment made, the short sale lender involved, foreclosure sale date and market conditions.

The main factor in pricing a home is if it is in active foreclosure and or how long the payments have been in arrears. Once a homeowner stops making mortgage payments the clock towards foreclosure starts ticking. This means you should start becoming more aggressive with your pricing strategy the longer time goes on when mortgage payments are not being made. Depending upon the condition, location and time line short sales typically sell anywhere from 5 to 20% below market value. You will need to check laws and regulations in your state. In Florida, once the home is past 90 days late the lender files for a lis pendens on the home.

If the house is not in foreclosure status and it is not past due with its mortgage, the home should be priced closer to market value with a price reduction strategy for it to go under contract. The lender will want to obtain maximum profit for the short sale and keeping a marketing history and price reduction worksheet to give added fuel to getting the offer priced approved once an offer is received.
As the short sale agent, it is important to understand short sales and the market conditions clearly. Many times short sales sit due to an improper pricing strategy.

Here are some of the pricing strategies to adopt:
• You may lower the price 25 – 30 days after the initial posting of the property in short sale. Depending upon how late mortgage payments are you may be reducing slightly every 2 weeks thereafter. It is important to note to have a bottom line range to stop so the home is not priced out of an acceptable range by the lender. The goal is to be in the ball park.
• How you price your home listing depends on the current market, the status of the house, and the community wherein it is situated.
• If the homeowner is not updated with its mortgage payment, it is advisable for a price reduction of 6% to 10% for $150,000and below, 5% to 10% for properties $200,000 to $300,000. Furthermore, for luxury properties, a bracket within $50,000 to $100,000 is maintained.
• If the property is on a foreclosure status, price it according to the current market value and lower the price around 10-21 days period until a proposal is made.
• If the short sale listing is not in danger to be foreclosed and the seller is paying his/her current mortgage, keep the prices high and choose the best offer if possible.

Have a tangible business plan of the range of listing prices you agree to take. Worst comes to worst, you would not end up in deficit with the short sale property you are working on. You need to include your time, hard work, and cash expenses. Deduct them to the commission you’ll get when the short sale will close. Planning ahead of time is a necessity so as not to build up emotional stress along the way.
You can have a fixed amount that will be basis for your time, effort, and expenses. The sum is the basis wherein you will not accept listings under that amount.

Other Articles to Read:

More homeless? Where will the mortgage settlement fund go?

My Gainesville Short Sale Appraisal Came in Low, Now What?

Gainesville Short Sale Qualification Process

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

  

Gainesville – How to Process a Short Sale File

Gainesville – How to Process a Short Sale File
Anson Properties, who successfully handles short sale listings, understands the time sensitivity of the short sale process. During the listing period, short sale lenders are observing the status of the property. If it takes a period of time for the listing to be approved, the lenders may request an extension of the short sale to be listed. It is necessary to make sure to get duration of one year for the listings to avoid trouble. If it is near on the time-frame given, that’s the instant wherein we obtain another extension for the listing.

Aside from having an annual period for the short sale listing, there are several points to take note while the listing duration is on-going. Here they are:

• Have a Marketing List of all the online and offline postings you have done. Track the post that you are listing on and the date of posting. Take notes of all the internet sites where you are posting on, like your blog, Trulia, Postlets, Realbird, Craigslist, Activerain, and others.

• Provide an efficient showing schedule. MLS can provide a schedule system for showings where it produces a response form through email that can be printed along with other showings that the system has generated.

The showing sheet involves the name of agent, their phone number, brokerage name, time, and date. In the lower portion, you can also add a comment area for prospect buyers to fill in.

• Store your Listing Files in an organize manner. There are several digital platforms wherein you can keep a soft copy of all your listing files. Aside from keeping digital files, it is best if you have a folder of the files in your very own office. The digital files are just a back-up for online transactions and other matters.

• For every short sale listing, keep a pricing history. In MLS, a pricing history is kept but it is important to have a paper file on-hand for emergency needs. You can keep them on the listing files as well.

If it is necessary, a seller will sign into a contract that Anson Properties are authorized to reduce the price of their home if it is needed in order to sell the property.

Other Articles to Read:

Why it is Important to Understand the Short Sale Process

3 mistakes to avoid when short selling your Gainesville home

Gainesville Short Sale Agents Rent To Buy Scheme

Military homeowners to get short sale assistance

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

  

Gainesville Short Sales – Top 10 Questions

Gainesville Short Sales – Top 10 Questions

Click Each Question to find out the answers.

1. What is a Gainesville Short Sale?

2. Gainesville Short Sales – How do I Qualify for a Gainesville Florida Short Sale?

3. Gainesville Short Sales – What is the Gainesville Short Sale Process, What Should I Expect?

4. Gainesville Short Sales – How do I Prepare My Gainseville Short Sale Hardship Letter?

5. Gainesville Short Sales – Do I Have to Pay for the Short Sale Agents Real Estate Commission?

6. Gainesville Short Sales – Why Don’t I Just Foreclose?

7. Gainesville Short Sales – What Happens in a Short Sale if I have More than 1 Mortgage?

8. Gainesville Short Sales – Should I Stop Paying My HOA?

9. How Long Does a Gainesville Short Sale Take?

10. Gainesville Short Sales – What Can a Gainesville Short Sale Agent do for Me?

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.