How is the short sale process different for a homeowner versus a rental property? Is the owner of a rental property more likely to have a deficiency judgment and/or be taxed on the deficiency than a someone short selling their own home? Brett."
Here was our answer to Brett's question Yes, short selling a rental property is much different.
(The scenarios below are for a property you bought as a rental, not a property you bought to live in and then started to rent…
Added by Donna M Bishop on March 2, 2015 at 6:21am — No Comments
CLICK HERE TO LISTEN TO THE PODCAST: http://tinyurl.com/qa62n6h
Real Estate Marketing (The Podcast)
How do I get a listing or deal? #Investor #Realtor
Short Sales are BACK!
CLICK HERE TO LISTEN TO THE PODCAST: http://tinyurl.com/qa62n6h
GUESTS:
Bryant Tutas …
Added by Lee Honish on September 30, 2014 at 11:00am — No Comments
To improve the customer experience, Bank of America has enhanced it's home retention application and document collection process in an effort to help customers explore all opportunities to resolve their mortgage delinquency. Changes to their home retention evaluation process have been implemented to support that commitment.
What has changed?
Application & document collection process:
A…
Added by Jason Opland on December 19, 2013 at 8:51am — No Comments
The Wisconsin housing statistics are in for September of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:
Wisconsin home sales were very strong in September, continuing the robust pace that has characterized the year. Sales of existing homes were up 15.8 percent in September…
ContinueAdded by Michael Collins, CDPE, SFR on November 1, 2013 at 3:26am — No Comments
The Wisconsin housing statistics are in for August of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:
Home sales and median prices both grew at a healthy pace in August, continuing the hot real estate market in Wisconsin. Existing home sales were up 13.7 percent in August compared to last August, closing out a very strong summer for home sales and 26 straight months of sales growth.…
ContinueAdded by Michael Collins, CDPE, SFR on October 3, 2013 at 9:45am — No Comments
The Wisconsin housing statistics are in for July of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:
Wisconsin home sales and prices both grew in July, outpacing the solid rate established for the first half of 2013. Sales of existing homes for July increased 17.3 percent over July of 2012, which is stronger than the 11.4 percent rate of growth established in the first…
ContinueAdded by Michael Collins, CDPE, SFR on August 26, 2013 at 3:36am — No Comments
We don't want anyone to lose their home. We don't want anyone to be forcibly displaced. There is no place for foreclosures and evictions in an intelligent society. They are symbols of moral, economic and social corruption. Unfortunately, they are of our own making. Our own craving for materialistic pleasures leads to consumerism and a system of…
ContinueAdded by Saurabh Singh on August 19, 2013 at 12:31am — 2 Comments
Helping a home owner prevent foreclosure is a noble cause. Those realtors who wish to commit themselves to this cause are entering the path of Enlightened activities. However, not everyone will be a success. It is more profitable to flip homes than work on a short sale for months only to see your efforts fail.
There are many challenges like negotiating liens,…
ContinueAdded by Saurabh Singh on August 17, 2013 at 3:17am — 1 Comment
The Wisconsin housing statistics are in for June of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:
Wisconsin home sales rose an impressive 11.4 percent in the first six months of 2013 compared to last year, according to recent statistics compiled by the Wisconsin REALTORS® Association (WRA). In June alone, Wisconsin home…
ContinueAdded by Michael Collins, CDPE, SFR on July 25, 2013 at 7:40am — No Comments
The Wisconsin housing statistics are in for May of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:
Strong home sales in Wisconsin for May helped boost prices up, according to the most recent statistical report released by the Wisconsin REALTORS® Association (WRA). The sale of existing homes in May increased 18.2 percent over last May, now the 23rd straight…
ContinueAdded by Michael Collins, CDPE, SFR on June 27, 2013 at 3:26am — No Comments
Added by Ricky O. Gibson, Sr on June 14, 2013 at 4:30am — No Comments
Fannie Mae recently introduced a new tool to help short sale real estate specialists successfully close short sales. Short Sale listing agents are now asked to register accepted short sale offers (accepted between the buyer and homeowner) with Fannie Mae to provide greater transparency into the process and allow Fannie Mae to…
ContinueAdded by Jason Opland on June 6, 2013 at 2:30am — No Comments
Added by Michael Collins, CDPE, SFR on April 26, 2013 at 5:55am — No Comments
I overheard an interesting conversation in the office yesterday. Apparently, an agent showed a rental property that was listed by another agent in the office. Of course, the listing agent asked about feedback and the showing agent excitedly mentioned that his clients were interested in the property. Their conversation quickly changed to the reasons why the prospective tenants are now choosing to rent and he mentioned that they were doing a strategic default on their…
ContinueAdded by Vanessa Calhoun on April 24, 2013 at 4:18am — 2 Comments
To know me is to know that I LOVE peanut butter...I love it on a spoon by itself, on bread, with jelly, without jelly, with bananas, etc...I think you get the picture.
When someone felt it prudent to mix peanut butter with chocolate.....OH MY!!!! I was in absolute peanut buttery heaven!!!!
Now that you know how I feel about the peanut butter and chocolate.......
Recently...Bank of America announced that it was…
ContinueAdded by Vanessa Calhoun on March 21, 2013 at 11:03am — 3 Comments
Here's the scenario.......Listing Agent has a million dollar listing in a high end community. The property is still owner occupied and is filled with extravagant and expensive furnishings. An unrepresented Buyer approaches the listing agent and gives her an exciting story about winning the Colorado lottery. She also mentions how she has made it her life mission to adopt homeless children and give them a lifestyle that supercedes the one that they're currently living. She needed an opulently…
ContinueAdded by Vanessa Calhoun on February 28, 2013 at 5:00am — 2 Comments
Today pretty much started out as normal. I'm working diligently alongside my Assistant when I receive a phone call. This young lady is interested in a property that I'd previously listed which is now being marketed as a rental by another Brokerage. I informed her that I'd sold the property and that I no longer have any information regarding the current status of the property, but would gladly assist her in contacting the current listing agent. I look up the property in order to get the…
ContinueAdded by Vanessa Calhoun on February 20, 2013 at 6:44am — No Comments
Normally, it's customary that lightning will not strike twice....and I've become accustomed to believing that old addage to be true. In fact, I wouldn't expect anything different.....
HOWEVER, it's happened to me....I mean, the double strike of lightning! Right into my heart, nonetheless!!! First, Bayview fully approves my short sale with a full Seller's release of liability within 22 days....NOW, Greentree has done the same within 30 days!!!
Are these Servicers trying to…
Added by Vanessa Calhoun on February 15, 2013 at 6:32am — 4 Comments
There's nothing like the simple joys of listing a home on the market, securing a buyer, and closing within a relatively short time frame......NOTHING AT ALL! HOWEVER.......I've just recently been afforded the opportunity of handling a short sale with Bayview Loan Servicing in the first lienholder position. What a treat!!!
First, we received a wonderful offer on the property within days of market time and submitted the entire short sale package to Bayview on January 25th. The…
Added by Vanessa Calhoun on February 13, 2013 at 5:14am — No Comments
In the oftentimes chaotic world of short sales, the road from initial list to closing is filled with rough terrain, speedbumps, wrong turns, u-turns, no turns, stop signs, and many detours. Nary a day I fail to hear the laments of yet another agent succumbing to the trials and toils of short sales. In fact, in my 7 years of selling everything from normal market re-sales to REO and short sales, I've dealt with many different (and often frustrating) short sale transactions. In fact, I've had…
ContinueAdded by Vanessa Calhoun on January 30, 2013 at 9:32am — 2 Comments
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