Avoid foreclosure

The Tough Short Sale

November 8, 2011

I work with Realtors all day long, most Realtors dislike any additional work, thus dislike short sales.  Short sales require a good deal of paperwork.  The Lender is disqualifying the Seller for the home mortage loan.  Most Realtors have been selling homes for 10+ years and the extra steps in a short sale are a [...]

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Reasons to Short Sell

November 1, 2011

Of course every homeowner wants to save their credit and avoid foreclosure if possible.  So what are the top reasons to complete a short sale? Top 7 Reasons to complete a short sale: Missed payments, no plan to catch up In foreclosure- you have an auction date Can no longer afford the home No desire [...]

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Short Sale Pricing

October 24, 2011

The price chosen for a short sale is very important.  First, the Realtor analyzes all the comparable homes.  I use the Pending and AWC listings- this means they are under contract right now, thus the price a buyer is willing to pay right now. I have Sellers ask me if their home will sell, my [...]

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Short Sale Costs

October 20, 2011

I work in the short sale business everyday, so I always assume my clients know what I know.  Clearly, they do not and it’s my job to inform them. In the last week I have been asked a few times “how much will the short sale cost me?”  Great question! It won’t cost the Seller [...]

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Foreclosure vs. Short Sale

October 17, 2011

One fact it seems is not discussed much is the 1099-c.  This 1099 is issued when there is a cancellation of debt.  So if a home is foreclosed or sold as a short sale- there is a 1099-c issued by the Lender. Most homeowners believe that by allowing their home to foreclose, they are all [...]

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