Stephen B. McWilliam
  • Male
  • Fort Lauderdale, FL
  • United States
  • FL
Share on Facebook
Share

Stephen B. McWilliam's Friends

  • Beverly Cibulsky
  • Christina Conrad
  • Patti Lyles
  • Michael Levine
  • Yvonne Westerman
  • David Dee
  • Kent Dills
  • Bryant Tutas

Stephen B. McWilliam's Discussions

Be careful - BOA deficiency payment after short sale closing

Started May 30, 2012 0 Replies

We have a Buyer attempting to purchase a new primary residence; a SFR non-FNMA short sale.  We also represent the Seller in the transaction.The Buyer is putting down 80% LTV and has 700+ credit…Continue

Tags: deficiency, payments, boa, heloc, of

SunTrust junior lien holder problems

Started this discussion. Last reply by Bryant Tutas Feb 29, 2012. 1 Reply

Late last year a short sale property in Plantation, FL with a FNMA 1st and SunTrust HELOC received a $295k offer.  FNMA servicer counters at $305k based on a bad BPO. SunTrust never acted; Buyer…Continue

Short Sale Income tax advantages

Started this discussion. Last reply by Meli Van Natta Feb 12, 2012. 10 Replies

Here's the scenario: Homeowner stopped making payments on both first mortgage and HELOC.  18 months later a short sale is approved by both lenders.  Lender #1 gets the bulk of the sale and nets $200k…Continue

Tags: exclusion, insolvency, 1098, interest, paid

Life after a Short Sale

Started this discussion. Last reply by Stephen B. McWilliam Feb 8, 2012. 4 Replies

Recently, I've had a couple of friends that have had to short sale their homes.  In fact, one friend lost his home in foreclosure before the short sale was approved.  All of them were over 61 years…Continue

Tags: after, life, sale, short, mortgage

 

Stephen B. McWilliam's Page

Profile Information

First Name
Stephen
Last Name
McWilliam
Are you a...
Other
State
FL
City
Fort Lauderdale
My Profile
Steve, originally from Massachusetts, began his real estate career in 1984 with Century 21. He has been living in the Fort Lauderdale beach area since 1989. He has earned the most prestigious National Association of REALTORS® accreditations of ABR (Accredited Buyer's Representative),CRB (Council of Real Estate Brokerage Managers), CRS (Council of Residential Specialist), and GRI (Graduate of the REALTOR® Institute). Less than 5000 of all REALTORS® have obtained all of these accreditations. Steve has extensive marketing and management experience and is very active within the real estate community.

Stephen is licensed by the State of Florida as a Real Estate Instructor and mortgage loan originator. He is the principal representative of Florida State Mortgage Group, Inc (a Florida licensed mortgage lender) which operates as a marketing and service partner along with Florida State Realty Group, Inc.

Steve is regularly engaged as a real estate expert witness by numerous Florida law firms to consult and testify as a real estate expert witness in cases throughout Florida in both County and Circuit Courts as well as the Federal District Courts. These cases typically involve claims concerning the licensee's standard of care, neligence and/or alleged breach of fiduciary duties.

Steve has served on the Board of Directors for both the National Association of REALTORS® and Florida REALTORS® (formerly known as the Florida Association of REALTORS®) since 2007 and currently serves as the 2012 President for the Greater Fort Lauderdale REALTORS®, one of the largest REALTOR® associations in the USA with over 7500 members.

Stephen B. McWilliam's Blog

Florida Short Sale Listings

Posted on July 9, 2011 at 9:00am 6 Comments

I am still amazed at the number of REALTORS® that continue to list short sales and either attempt to process the short sale themselves and/or turn the file over to a third party title company. In many of these instances I have noticed the title company charging “short-sale processing fees” at closing in direct violation of the law. In fact, such a charge may be considered a felony as it violates Florida Chapter 494.

 

Federal and Florida laws involving short sales and their…

Continue

Florida requires mediation in foreclosure disputes

Posted on December 30, 2009 at 5:30am 1 Comment

NEWS FLASH: A Florida Supreme Court Justice issued an order requiring all foreclosure actions involving Florida homesteaded property to be mediated between the lenders and the Borrowers.

Read more about it: Fort Lauderdale Sun-Sentinel

I would suggest making certain the SS negotiators are aware of this new requirement while in SS process.

Debt Forgiveness Tax - not necessarily

Posted on December 27, 2009 at 9:30am 1 Comment

I continue to experience people, real estate practitioners included, that are under the impression that income tax must be paid on forgiven debt if the debt was not used to acquire their primary residence and as further defined pursuant to The Mortgage Forgiveness Debt Relief Act and Debt Cancellation of 2007.



Long before this was enacted there was, and still is, an insolvency exclusion.… Continue

Note demands by junior lein holders

Posted on December 26, 2009 at 3:11pm 3 Comments

The knee jerk reaction by many is to refuse to sign a note upon a junior lien holder’s demand. One may successfully argue that position. However, in the end if the junior lien holder will not let up the Borrower is not in any worse position if they sign the note.



First, they already have a note with that lender on which the lender will sue. This new unsecured note replaces the original note that is secured by a mortgage. The Borrower can always attempt to settle that new note at some… Continue

Comment Wall

You need to be a member of Short Sale Superstars to add comments!

Join Short Sale Superstars

  • No comments yet!
 
 
 

Members

© 2019   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************