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Tips For Short Sale Approval | Gainesville

Tips to assure approval of your property from lenders Having your property listed by one of the top Gainesville short sale agent will double the chances of having your short sale approve by the lenders. For homeowners, it is important to remind you that some lenders are carrying out new laws in short sale process. For example, Chase, one of the leading lenders in the country, has created a law wherein homeowners who have a deficit that is greater than $250,000 will compel the listing agent to provide the following:
(1) A record of the drop of prices on the property
(2) Showing Appointment Sheet
(3) They might request a record of advertisements made and where you placed them, such as online advertisement sites, i.e. Craigslist.
(4) A report that illustrates on why such changes were made in marketing the value of the property, like, what is the cause of the fall of prices?

A presentable house will have greater chances to be sold. As homeowners, it is also important to keep the house attractive as possible. Short sale homes that are neat and orderly have greater chances to be sold, or would get amazing proposal.

Take lots of quality pictures of the property being short sale. Mentioning the adage “pictures speak a thousand words”, homes being short sale that have numerous quality photos have greater chances for buyers to be interested on that property.

Show off the property’s finest features. For short sale agents, when you are marketing online it is important to highlight the nice attributes that the property have. If the home has a fantastic living room, make sure to include a couple of photos of the living room done in different angles. If a specific feature cannot accurately be represented using pictures, describe it in details in the property description.

Occupy the listing’s MLS with the right words and information. Make sure all information is correct. Fill your MLS as many photos as it allows. Compose descriptions that will have buyers interested and be able to experience what it is like to live in the home listing being short sale.

These are just some of the tips to assure approval from your lender and be blessed with buyers who’ll likely to grab great offers.

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

Determining if you have a Financial Hardship

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

  

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Fast Gainesville Short Sale Approvals on Fannie Mae Loans

Fast Gainesville Short Sale Approvals on Fannie Mae Loans Gainesville short sales are no longer easier said than done. Normally, before a Gainesville short sale on a home with a guaranteed loan can proceed, the approval of the mortgage insurance groups is a prerequisite. But now, Fannie Mae mortgage servicers have the means to expedite a short sale approval on Fannie Mae-backed loans as they have been given the power by five mortgage insurers to complete a short sale or deed in lieu of foreclosure without a separate approval from them.

The five mortgage insurers granting Fannie Mae the power to expedite short sales without their approval are the following: MGIC, Genworth, Republic Mortgage Insurance Co., Radian Guaranty, and the PMI Group, which filed for bankruptcy in November.

Fannie Mae entered into such agreement with these insurers as part of their endeavor to make the short sale process fast and increase completions of short sales.

Gainesville short sales significantly increased during the crisis. More and more homeowners on the brink of having their homes being foreclosed on are looking into short sales as an alternative. This significant change in the process of short sale approval will indeed benefit a lot of homeowners applying for a short sale.

Other Articles to Read:

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

Short Sale Process – What to Expect

Short Sale Top 10 Questions

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

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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Choose the Best Short Sale Offer | Gainesville

How to Choose the Best Gainesville Short Sale Offer

 

It’s always hard to choose among many choices and this applies when choosing a buyer for Gainesville short sales since short sales attract many buyers. It’s best to seek professional advice from your agent. But to get you started, here are some insights in choosing the best offer to your home.

The first thing you should consider is the short sale buyer’s eligibility for financing. It’s enticing to always go for the highest price without digging deeper into financing. You should ensure that the buyer is highly eligible.

Normally, the lenders give a 30-day leeway time on short sale approval. Once the short sale approval expires, the short sale needs to be re-negotiated and may take 2-6 months more lead time. With this in mind, you have to make sure that buyer’s financing gets approved. A little less price could be a better choice backed up by stable financing. Request for a copy of the buyer’s pre-approval letter as a proof that he has been approved for financing.

The price is only one aspect of Gainesville short sales. You should also carefully review the terms given with each offer. Know whether the buyer is demanding for fixtures such as furnishings and window treatments. See if you can meet those demands.

Always do your research with every offer that comes. If the offer has the highest price and best qualifications at the same time, then go for it.

It is important to have a pre-approval letter that has gone through desktop underwriting to prevent issues from arising. We have one short sale where the buyer’s lender was acting as the short sale buyer’s agent and the short sale loan mortgage broker.

In the state of Florida this is illegal, the real estate agent and mortgage broker cannot be the same person or within the same company. This agent almost cost us the sale altogether. Her communication was non-existent, the buyers called me for updates and she lied about who the loan officer truly was.

After 3 short sale lender extensions, I finally put my foot down and told her she either used one of the mainstream lenders or the seller would not extend any longer. Under no circumstances should a loan approval extension need to happen over the course of 30 days. The agent finally admitted she did not know what she was doing! Real estate licenses should not be so easy to get!

Other Articles to Read:

Gainesville Short Sales – Know Your Options

Real Estate Agents In Gainesville: Understanding FICO Scores

Foreclosure News Reports On More Loan Transferring

Gainesville FL Foreclosure News – Loan Modification Failures Are Rising

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

  

Banks have to Prove they Own Note to Foreclose


Banks have to Prove they Own Note to Foreclose


This 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 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 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:

Foreclosure News Reports On More Loan Transferring

Avoid Notice of Default – Refinancing Balloon Mortgages

Short Sale Top 10 Questions

Gainesville Florida Renter Rights During Foreclosure

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.