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Oakland County Michigan: Mike Sher sold his 50th SHORT SALE Last Year!, That is 50 Foreclosures Stopped and 50 Sellers Taking Control of Their Lives! Certified Distress Property Expert.

Posted by Mike Sher on February 19, 2011 at 10:04am

Oakland County Michigan: Mike Sher sold his 50^thSHORT SALE Last Year!, That is 50 Foreclosures Stopped and 50 Sellers Taking Control of Their Lives! Certified Distress Property Expert servicing; Bloomfield, Beverly Hills, Birmingham, Farmington Hills, Rochester Hills, Troy, West Bloomfield, Huntington Woods, Franklin, Bingham Farms, Novi, Northville and beyond!

Thank you to all of my Sellers who believed in me, to all of the Buyers who waited patiently and most of all to my Short Sale Team of Katherine, Chad, Lindsey, Heather, Heidi, Barbara and Aric. My Team works tirelessly and they truly care for my clients! We are stopping Foreclosure one Short Sale at a time.

If you or someone you know has to sell and refuses to be a foreclosure statistic, please call me at 248 496-1572 or Email me at ShortSale@MikeRealtor.com

Learn more at www.ShortSaleOaklandCounty.com

Mike Sher

Negotiating HELOCs on a Short Sale.

Posted by Bryant Tutas on February 19, 2011 at 8:27am

Hi folks. If you negotiate Short Sales for a living then you know that a HELOC ( Home Equity Line of Credit) can be a real pain in the rear end. They usually want more money than what the 1st lien is willing to give them and they want the Borrower (Seller) to participate in their loss by making a cash contribution and/or signing a promissory note.

The Borrower needs to know this at time of listing. As a Short Sale listing agent you need to ask them at time of listing if their 2nd lien is a purchase money mortgage or is it a cash out equity line. If it was a cash out then the next question is; "Are you willing to participate in the loss?" If they answer "No" then there may be an issue.

Now having said that, the Seller may not be a position to participate in the loss. There could be a true financial hardship and they just don't have the means to bring cash or pay off a promissory note. If this is the case then you need to let them know that you will do your best but that there are no guarantees that the 2nd will cooperate. The 2nd may still remove the lien (mortgage) so the Short Sale can close but they will more than likely not remove the obligation for the Borrower to pay (note) without some kind of participation.

This may suck for your Seller but look at it from the lender's perspective. The Seller pulled cash out of his home and more than likely spent the money on consumer goods. The lenders know this. Should they completely forgive the debt when the borrower has a paid for Hummer sitting in the driveway? Would you? I don't think so.

So what can you do? If the Seller has the means then they should just participate in the loss. They spent the money so now give some of it back. Chances are they can settle for 20-30 cents on the dollar. That's a darn good deal. Take it and move on.

If your Seller does not have the means......Negotiate. Negotiate hard. Prove to the lender that the Borrower does not have the cash or the income to participate in the loss. Then show the lender where the "equity money" went. If it was used to pay medical bills and put food on the table then show this to the lender. It's my experience that most of the folks I help did NOT squander the money. They used it to either live on or they put it back into the property. The lender needs to know this. Lay it out and make the case.

The most important thing to remember is that it is the lender's negotiator's job to limit the loss as much as they can. They are paid negotiators and some are very good at what they do. Are you? If not then maybe you should not be handling Short Sales.

Your Sellers are depending on you. Please don't let them down. What say you?

Are you facing foreclosure in Florida?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

Why Is My Agent Trying To Talk Me Out Of Buying A Short Sale?

Posted by Bion Grady on February 19, 2011 at 4:42am

The Stop Foreclosure Institute recently received a question from Tamra. She is buying a home and her agent is trying to talk her out of short sales.

Here is Tamra’s question. “I am looking to buy a home. Some of the best priced properties are short sales. However, my agent won’t show me these homes.

She keeps on telling me the prices are lower than the lender will accept and that short sale never close. What should I do? I am really interested in these homes, especially at the price they are being offered at.”

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here was my answer. Tamra, you should talk to your agent and see what they dislike about short sales. Your agent may have had a bad experience with short sales in the past.

Short sales are a great way to purchase a home at a good price. They are tougher and take a lot longer than your average real estate transaction.

However, that doesn’t mean you shouldn’t consider them. Just be cautious with your search. Make sure the agent who has the house for sale has prior short sale experience.

Your agent can ask them what short sales they have sold in the past. If they or the people working with them have a good track of working with the banks, then you should be ok.

Remember, not every short sale is going to be approved at the listing price. But, if they banks feel the price is fair, then they will accept the offer.

So go look at some of those short sales. With a little luck one of them will be the perfect home that meets exactly what you are looking for.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at bion@bionsellshomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 770-875-4268

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Powder Springs loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Bion Grady.

Bion is a Real Estate Agent at Maximum One Realty Greater Atlanta. Powder Springs Short Sales Realtor:

Phone: 770-875-4268. bion@bionsellshomes.com.

A Better Solution

View My homes for sale at www.bionsellshomes.com.

Bion Grady specializes in loan modification assistance and short sales in Powder Springs Georgia. Powder Springs Loan Modification Help, Powder Springs Short Sales. Powder Springs Short Sale RealtorShort Sale Realtor. Powder Springs GA Short Sales. Powder Springs Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Bion Grady's personal views and do not reflect the views of Maximum One Realty Greater Atlanta.

This information on Why Is My Agent Trying To Talk Me Out Of Buying A Short Sale in Powder Springs? is provided as a courtesy to our viewers to help them make informed decisions.

What You Should Look For In A Buyer Of Your Short Sale Property

Posted by Bion Grady on February 18, 2011 at 5:14am

Short Sales can be tough. Many buyers don't understand the process and think that since it is a buyer's market, then they set the rules. That's not the case.

You, the seller set the rules. After all, you still own the property. But, more importantly, you must set the rules for offers. If you don't then you dramatically reduce your odds of successfully short selling your property.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here is what you should think about before you take your home off of the market.

1. You should only accept and work with one offer at a time. If you accept more than one offer at a time, then buyers get mad.

The primary offer might get angry because you accepted a backup offer. In addition, multiple offers confuse everyone involved including the short sale lender.

2. You should make sure the buyer can get financed for a loan. That means the buyer should give you genuine proof of that, whether a pre-approval or pre-qualification.

3. We recommend that the buyer inspect the home before the sales contract is signed. If any unexpected problems come up (and they do), then you can adjust the offer price that is submitted to the short sale lender.

This saves from having to negotiate the price again if a problem is found after the short sale is approved. Besides, the lender is more likely to accept a lower price if you send them a copy of the inspection.

4. The buyer agrees to wait the necessary 60-90 days for an answer on the short sale. That time will depend on the lender. Some lenders are fast and some are slow.

5. The buyer should put a reasonable deposit in escrow to keep them on board for the necessary time required for the short sale to be approved.

These are what we have determined to be necessary for a successful short sale. If you don't have a serious buyer then you are wasting your time and your agent's time as well.

Many buyers and their agents think that since a property is a short sale, then offers can be treated very casually. This only hurts the home sellers trying to avoid foreclosure when the buyers can't get a loan or back out after the inspection.

Helping someone avoid foreclosure is serious business. That's why we treat it as such. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at bion@bionsellshomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 770-875-4268

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Powder Springs loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Bion Grady.

Bion is a Real Estate Agent at Maximum One Realty Greater Atlanta. Powder Springs Short Sales Realtor:

Phone: 770-875-4268. bion@bionsellshomes.com.

A Better Solution

View My homes for sale at www.bionsellshomes.com.

Bion Grady specializes in loan modification assistance and short sales in Powder Springs Georgia. Powder Springs Loan Modification Help, Powder Springs Short Sales. Powder Springs Short Sale Realtor Powder Springs GA Short Sales. Powder Springs Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Bion Grady's personal views and do not reflect the views of Maximum One Realty Greater Atlanta.

This information on What You Should Look For In A Buyer Of Your Powder Springs Short Sale Property is provided as a courtesy to our viewers to help them make informed decisions.

Beverly Hills Michigan Short Sale Expert: Solving Your Mortgage Crisis Just Got Easier, Mike Sher, Max Broock (248)644-4700, Certified Distress Property Expert

Posted by Mike Sher on February 18, 2011 at 5:00am

Beverly Hills Michigan Short Sale Expert: Solving Your Mortgage Crisis Just Got Easier, Mike Sher, Max Broock (248)644-4700, Certified Distress Property Expert

5 Steps for a Successful Short Sale

Lenders and the federal government, prompted by the sheer volume of loan modification and short sale requests, have overhauled their systems and programs, making the foreclosure avoidance process much easier than in the past.

If you are considering Short Sale your home to avoid the financial and emotional fallout of foreclosure, you should be aware of the five steps you should take to increase your chances of a successful transaction.

First, do you qualify?

You must:

1. Have a verifiable hardship, like unemployment, medical bills, or relocation.

2. Must have a monthly income shortfall

3. Be insolvent (you have no cash or assets that can be sold to pay down the mortgage), or headed towards insolvency

If you meet these qualifications, follow these five steps to a successful short sale:

1. Contact me so we can identify your servicer, fill out a short sale packet for the lender, and assemble all the required information needed to list your home for sale

2. Gather financial information (i.e., bank statements, pay stubs) from at least the last three months

3. Keep your house in showcase condition for showings, and make as many repairs as necessary and that you can afford

4. Expect the lender, junior lien holders, and private insurance companies to request more paperwork, and try to gather requested information quickly to ensure transaction efficiency

5. Set realistic expectations and work with me, the lender, and the buyer to the satisfaction and benefit of all parties involved

For more information about how the short sale process works, or about any other foreclosure alternatives you may qualify for, call me today at 248 644-4700 x 242. I can help you alleviate the burden that the threat of foreclosure brings, and we can develop a strategy to help you breathe a little easier. Feel free to learn more at www.ShortSaleOaklandCounty.com

Is this a reasonable offer from a buyer of a short sale proeprty?

Posted by Bion Grady on February 17, 2011 at 12:58pm

Some buyers think that since it is a buyer's market, then they can make any crazy demand of a seller. And they can't understand when the seller isn't excited by their lowball offer.

Here is an example of a recent story where this happened. A buyer makes an offer on a short sale.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

1. The buyer puts no money in deposit for the home. In other words, they have about zero risk. (Meanwhile, the seller is still risking foreclosure.)

2. They are putting $150,000 down on the property, but won't bother putting any more than $1,000 in escrow and only after the short sale is approved.

3. They are only allowing 30 days for short sale approval. (News flash: Most short sales take an absolute minimum of 60 days to be approved.)

4. They are demanding the seller take the property off the market and not accept backup offers.

Is this a little one sided or what? If you are a short sale seller, then they agent representing you should ask for a better offer. You need the buyer to have a little skin in the game.

If not, then you dramatically reduce the odds of successfully short selling your property. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at bion@bionsellshomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 770-875-4268

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Powder Springs loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Bion Grady.

Bion is a Real Estate Agent at Maximum One Realty Greater Atlanta. Powder Springs Short Sales Realtor:

Phone: 770-875-4268. bion@bionsellshomes.com.

A Better Solution

View My homes for sale at www.bionsellshomes.com.

Bion Grady specializes in loan modification assistance and short sales in Powder Springs Georgia. Powder Springs Loan Modification Help, Powder Springs Short Sales. Powder Springs Short Sale Realtor Powder Springs GA Short Sales. Powder Springs Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Bion Grady's personal views and do not reflect the views of Maximum One Realty Greater Atlanta.

This information on Powder Springs Short Sales:Is this a reasonable offer from a buyer of a short sale property? is provided as a courtesy to our viewers to help them make informed decisions.

Farmington Hills Short Sale Realtor : "Any Realtor can list a short Sale but not every Realtor can close one" Michigan Certified Distress Property Expert, Mike Sher Max Broock (248) 644-4700 x 242

Posted by Mike Sher on February 17, 2011 at 12:00pm

Farmington Hills Short Sale Realtor : "Any Realtor can list a short Sale but not every Realtor can close one" Michigan Certified Distress Property Expert, Mike Sher Max Broock (248) 644-4700 x 242

Farmington Hills Short Sale Realtor : Any Realtor can list a short Sale but not every Realtor can close one, Michigan Certified Distress Property Expert, Mike Sher Max Broock (248) 496-1572

I have been spending a lot of time showing homes to buyers recently, which is a nice way to get out of the office! As a Short Sale listing agent, I often spend my days calling, emailing & negotiation with banks and less time out in the field. I was shocked at how many bank owned homes were previously listed as a short sale by " So Called Short Sale Expert Realtors". It reminds me that though any Realtor can list a Short Sale, few are able to close them.

In the past most Realtor would avoid distress sales because they were too much work. They focused on traditional sales that are easier. But now most Realtors will take any listing because they need the business. A Short Sale listing yields sign calls and can get the Realtor more listings, but sadly some Realtors are more focused on getting the business thengetting the short sale approved. I write this not to bad mouth my fellow Realtors but to alarm the public so they wll qualify the agent they trust to Short Sale thier home. Many Realtors will do a fine job for you. But a few just want a their sign in your yard.

First qualify the agent:

The agent needs to prove that have closed at least a dozen short sales in the past.
They should have letters of reference from past Short Sale closings.
Agent needs to demonstrate that they are aware of the changes in the short sale process like:
1. FHA pre-foreclosure program
2. HAFA, Co-Op program
3. other such programs.
4. They must show they have the time to negotiate your short sale.
5. They need to prove they have the tools and process in place to get your Short Sale approved.

For an example, my qualifications are,

I spend 20+ hours a week reading:
1. Short sale blogs and forums to keep me up to date
2. Government information sites like FNMA's Know you options site, Making Home Affordable and Hamp
3. Plus other information sites to keep up to date on changes in the short sale process.
I attend 3 to 6 Short Sale webnars hosted by CDPE and Bank Of America a month
I attend the Certified Distress Property Expert yearly conference where I meet top Short Sale agents like myself to discuss success strategies.
My Team closed dozens of short sales and have over a 90% closing percentage.
I teach short sale classes for Realtors at my local board of the Metropolitan Association of Realtors
I am a certified Michigan Association of Certified Public Accountants educator on the subject of Distress Property.
I write a weekly blog with 100's of readers including you :).
In 2010, my Team sold 75 units with $10 million in volume
I am a Short Sale consult for several local law firms and brokerages
I am a Fox 2 Detroit guest regarding Short Sales
A feature Short Sale resource for the Detroit Free Press Blog and Birmingham/Bloomfield Eagle

So before you sign on the listing agreement, make sure your Realtor has a track record of Short Sale success.

Freddie Mac Short Sale Dept Phone #

Posted by Cathy Rojas on February 17, 2011 at 11:05am

Does anyone have a direct phone number to the Freddie Mac Short Sale Department??

Thank you,

Cathy

What Is A BPO?

Posted by Bion Grady on February 16, 2011 at 10:49am

If you have been reading about short sales, then you have probably heard the term "BPO" and wondered what it meant.

BPO stands for Broker's Price Opinion. A Broker's Price Opinion is when a licensed real estate agent gives their opinion of the value of a property.

That value is what the lenders use to process the short sale. Most short sale approvals or denials are based off of that opinion of value.

The agent goes thru all the recent sales of properties similar to the property they are valuating. They want to find the 3 closest comparable sales.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

The more recent a sale is then the closer of a comparable it is considered to be. The same goes for properties that are close geographically (in the same neighborhood is preferred) and close in size and number of bedrooms or baths.

Most agents are not appraisers. Because an appraiser's license is required to appraiser properties they give their opinion of the value. Now, I'm sure you are wondering, " Why do the lenders use these rather than an appraisal?"

Here is why. Many people think they are more accurate of a valuation than an appraisal. Agents are more in tune with exactly what a property can sell for.

After all, whatever opinion of value they put for a property is usually supposed to be backed up later by a sale for that price. That causes agents to be more accurate with their valuations.

That accuracy is why the lenders use their valuations rather than an appraisal. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at bion@bionsellshomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 770-875-4268

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Powder Springs loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Bion Grady.

Bion is a Real Estate Agent at Maximum One Realty Greater Atlanta. Powder Springs Short Sales Realtor:

Phone: 770-875-4268. bion@bionsellshomes.com.

A Better Solution

View My homes for sale at www.bionsellshomes.com.

Bion Grady specializes in loan modification assistance and short sales in Powder Springs Georgia. Powder Springs Loan Modification Help, Powder Springs Short Sales. Powder Springs Short Sale Realtor Powder Springs GA Short Sales. Powder Springs Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Bion Grady's personal views and do not reflect the views of Maximum One Realty Greater Atlanta.

This information on Powder Springs Short Sales: What is a BPO? is provided as a courtesy to our viewers to help them make informed decisions.

Short Sales - But Why Didn't Somebody Tell Us?

Posted by Dee Nofziger on February 15, 2011 at 3:49pm

Short Sales - But Why Didn't Somebody Tell Us?

Why didn't somebody tell them ... WHAT?

Answer? Why didn't someone tell them they could short sale their home and not have to pay a realtor one red cent.

That's right, many homeowners in distress have no idea they can actually list their home for less than they owe and still be able to hire a realtor to do it for them. Instead, they worry and fret, sometimes for YEARS, because they believe they have nowhere to turn. They believe there is no light at the end of the tunnel. They believe no one is on their side.

The truth, though, is there is help out there. The truth is a realtor is paid by your LENDER at closing. Not by you. In fact, you don't even have to hire a low-cost real estate agent. You can actually hire a full-service agent and still get all their bells and whistles.

I'm not exaggerating. You CAN hire a real estate agentto represent you in the sale of your home, even if you are under water.

Lesson to be learned? Yes. The lesson is that if you are currently in a distressed situation, you must TODAY, contact a realtor. TODAY!

We can help!

Seriously!

Take care, Dee Nofziger|Danberry Realtor|CDPE

5 Bdrm/ 3 Bth Ranch On Full Finished Basement In Peachtree City, GA For Only $188,000!!! Pre-Approved Short Sale!!!

Posted by Vanessa Calhoun on February 15, 2011 at 7:48am

215 Preston Circle

PEACHTREE CITY, GA

Beautiful Ranch On Full Finished Basement In Sought After Peachtree City Community

5BR/3BA Single Family House

$188,000

Year Built	1994
Sq Footage	2,976
Bedrooms	5
Bathrooms	3 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	Unspecified
HOA/Maint	$0 per month

Description

This beautiful ranch styled family home features a vaulted family room w/ gorgeous view of rear yard! Master bedroom w/ trey ceilings~ master bath w/ double vanities, garden tub, separate shower, and granite countertops~ kitchen w/ tons of cabinet space and plenty of natural light~full finished basement w/ two additional bedrooms, a full bath, storage area for a golf cart, and two additional bonus rooms! What's more??? This home is ready for a new owner NOW!

Property Features

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Tile floor
Family room	Bonus/Rec room	Office/Den
Breakfast nook	Dishwasher	Refrigerator
Stove/Oven	Attic	Basement
Laundry area - inside	Balcony, Deck, or Patio	Yard

Other Special Features

Easy Access To Cart Path!!

Move-In Ready!!!

Additional Photos

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact Info

Vanessa Calhoun

Better Homes and Gardens Real Estate Metro Brokers

(678) 876-6428

For sale by agent/broker

Equal Opportunity Housing

Would Dave Ramsey Love A Short Sale?

Posted by Bion Grady on February 15, 2011 at 5:19am

You might have heard of Dave Ramsey. He has a popular radio program where he talks explains the benefits of getting out of debt.

Dave is a zealot for the debt free life. "You don't need to see the inside of a restaurant unless you are working there", he will tell people in financial trouble that call his show.

What does Dave recommend people do to get out of debt? Reduce spending, eat at home, pay off high interest debt first, etc.

Here is why I think Dave would love a short sale. A short sale is a great way to reduce debt. Where else can you wipe out $100,000, $200,000, and even more in debt? That will make up for eating a lot of rice and beans.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Do you have a house that is underwater to the tune of $50,000 or more? Try a short sale. It's a great way to erase all that upside down debt.

You can rent another home for 2-3 years until the market has bottomed out. Then, you can buy at the bottom. Not only will you save on a lower house price.

You will also save on the interest over the life of the loan. Did you know that on the average 30 year mortgage, you pay as much in interest as you pay for the house?

If you wiped out $100,000 in upside down debt, then that means you actually wiped out another $100,000 in interest. I think Dave would be proud. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at bion@bionsellshomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 770-875-4268

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Powder Springs loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Bion Grady.

Bion is a Real Estate Agent at Maximum One Realty Greater Atlanta. Powder Springs Short Sales Realtor:

Phone: 770-875-4268. bion@bionsellshomes.com.

A Better Solution

View My homes for sale at www.bionsellshomes.com.

Bion Grady specializes in loan modification assistance and short sales in Powder Springs Georgia. Powder Springs Loan Modification Help, Powder Springs Short Sales. Powder Springs Short Sale Realtor Powder Springs GA Short Sales. Powder Springs Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Bion Grady's personal views and do not reflect the views of Maximum One Realty Greater Atlanta.

This information on Would Dave Ramsey Love A Powder Springs Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Could The Realtor You Hire Kill Your Short Sale?

Posted by Bion Grady on February 14, 2011 at 8:57am

The biggest reason people short sale their house is to avoid foreclosure. They cannot afford the house anymore and the bank has said they will foreclose soon.

If the short sale is not successful, then their lender will foreclose on the house. We at the Stop Foreclosure Institute have successfully closed short sales for several years.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

We’ve made it our business to know what we are doing. But, we see many agents that have no clue about short sales (or the short sale process) listing short sales.

This gives short sales a bad name. Many agents have been involved in short sales where the listing agent didn’t know what they were doing.

Because of that the short sale wasn’t successful and that agent and their customer wasted time. In the future they are going to think twice before showing a short sale. This hurts other short sale sellers.

It really gets on my nerves that people who don’t know what they are doing can ruin it for everyone else. If you are thinking about short selling your home, make sure you hire a competent, experienced short sale agent.

(A competent, experienced agent will be successful at 80-90% of all the short sales they take on.)

Here are a few of the things that agent should avoid.

1. Submitting multiple offers to the short sale lender. Only the best offer should be submitted. A confused mind says no. Most short sale negotiators have between 50 and 200 short sale files on their desk.

To ask them to weigh the benefits of 3 short sale offers on just one of those 50 files is probably more than their brain can handle. No, I’m not saying their brain is stupid.

It’s just that a human brain can only handle so much information before it stops working.

2. Realtors submitting incomplete paperwork to the short sale lender. There is a method to follow. Every good short sale realtor understands stacking order, and the importance of easy to read paperwork.

3. Submitting low offers to the lender. All this does is waste time. If a lender is not likely to accept the offer, then don’t waste 45-60 days negotiating it with them.

Get an offer at (or near) fair market value and submit that to the short sale lender. That helps avoid wasting everyone’s time.

Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at bion@bionsellshomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 770-875-4268

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Powder Springs loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Bion Grady.

Bion is a Real Estate Agent at Maximum One Realty Greater Atlanta. Powder Springs Short Sales Realtor:

Phone: 770-875-4268. bion@bionsellshomes.com.

A Better Solution

View My homes for sale at www.bionsellshomes.com.

Bion Grady specializes in loan modification assistance and short sales in Powder Springs Georgia. Powder Springs Loan Modification Help, Powder Springs Short Sales. Powder Springs Short Sale Realtor Short Sale Realtor. Powder Springs GA Short Sales. Powder Springs Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Bion Grady's personal views and do not reflect the views of Maximum One Realty Greater Atlanta.

This information on Powder Springs Short Sales: Could The Realtor You Hire Kill Your Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Why Do Lenders Pretend To Care About Their Customers?

Posted by Bion Grady on February 11, 2011 at 10:46am

Have you ever attempted to get a loan modification? If you have, then you probably get bugged when you hear banks talk about how they suposedly care about their customers.

Somehow these banks think we will believe it. They must think that, or they wouldn't be running ads that say: "Come to ABC Bank. We answer you by your first name. You're not a number. We care about you."

What a bunch of garbage. Anyone who has attempted to negotiate a loan modification feels like they just went thru the meat grinder.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

"Sir, we can't approve your loan modification until you send us the APG form", the person at the bank tells you. "But, I already faxed that to you five different times over the last month", you reply.

"Sir, that doesn't matter. I don't see if in the system and until I see it in the system, I can't look at your loan modification application", they reply to you.

Aarrgghh!!! Is that frustrating or what. So, here's a little message to the advertising departments at America's Banks.

Don't run ads saying you care about us, until you actually do. People that apply for loan modification just want to keep their home.

In many cases, a loan modification will reduce a lender's losses. Why can't you just make the loan modification process a little easier.

Maybe then you can run ads where you claim to care about your customers and we might actually believe them then. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at bion@bionsellshomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 770-875-4268

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Powder Springs loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Bion Grady.

Bion is a Real Estate Agent at Maximum One Realty Greater Atlanta. Powder Springs Short Sales Realtor:

Phone: 770-875-4268. bion@bionsellshomes.com.

A Better Solution

View My homes for sale at www.bionsellshomes.com.

Bion Grady specializes in loan modification assistance and short sales in Powder Springs Georgia. Powder Springs Loan Modification Help, Powder Springs Short Sales. Powder Springs Short Sale Realtor , Short Sale Realtor. Powder Springs GA Short Sales. Powder Springs Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Bion Grady's personal views and do not reflect the views of Maximum One Realty Greater Atlanta.

This information on Powder Springs Short Sales: Why Do Lenders Pretend To Care About Their Customers? is provided as a courtesy to our viewers to help them make informed decisions.

How To Get A Short Sale Lender To Waive Deficiency Clause

Posted by Bion Grady on February 10, 2011 at 9:26am

The Stop Foreclosure Institute recently received a question from John. Here is John's Question.

"I just received a full price offer on my house. My main concern is that I don't get stuck having to pay off the deficiency. I have a first and 2nd with Chase and owe 270K on the home. The buyer's loan is also with Chase.

How can I work this out so that I can walk away from this without owing any money? Is it even possible with such a large difference between what the house is worth and what is owed? John.”

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here is the answer to John's Question: John, you need to read thru the short sale approval letter. See if is contains any language like “Payoff”, “Forgiven”, or “agrees to release the debt.”

Have an attorney read it over to make sure that it says the debt will be released. If it doesn’t say the debt will be released, then here is how you can re-negotiate for them to issue a complete release.

1. Request that the deficiency be waived. Tell the lender you will not short sale the property unless they give you a complete release.

2. Show proof that you cannot afford the deficiency payment. A debt from an absolutely broke person is worthless.

3. Show proof that the lender will net more money from the short sale compared to a foreclosure. This is your agent’s job to do. They will put together a calculation showing how much the lender is netting from the short sale, and project what they would net from a foreclosure.

If you cannot prove that you income doesn't cover your bills, then you may need to look into other avenues. You can look into getting a forensic loan audit to see if the lender broke any lending laws on the loan. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at bion@bionsellshomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 770-875-4268

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Powder Springs loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Bion Grady.

Bion is a Real Estate Agent at Maximum One Realty Greater Atlanta. Powder Springs Short Sales Realtor:

Phone: 770-875-4268. bion@bionsellshomes.com.

A Better Solution

View My homes for sale at www.bionsellshomes.com.

Bion Grady specializes in loan modification assistance and short sales in Powder Springs Georgia. Powder Springs Loan Modification Help, Powder Springs Short Sales. Powder Springs Short Sale Realtor , Short Sale Realtor. Powder Springs GA Short Sales. Powder Springs Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Bion Grady's personal views and do not reflect the views of Maximum One Realty Greater Atlanta.

This information on Powder Springs Short Sales: How To Get A Short Sale Lender To Waive Deficiency Clause is provided as a courtesy to our viewers to help them make informed decisions.

Duration of short sale deficiency amount negotation

Posted by Joel Niamien on February 10, 2011 at 7:53am

Hi,

Glad to be part of the blog. I have been learning alot about short sales. We are currently on a contract to purchase one in Virginia as a first home. The first bank (Chase) approved the sale. The second bank (Navy Federal) has approved the sale conditioned on the seller signing a promissory note. The seller said that she will be sign the note but has hired an attorney to negotiate the amount. What are the chances of the sale falling through? How long can the negotiations take?

Thanks alot

Joel

BPO

Posted by David R Haws on February 9, 2011 at 8:53am

Does any one have a good contact for myself so I can start doing BPO's for the Banks?

Thanks so much

Will I Still Have To Pay Property Taxes If I Do A Short Sale?

Posted by Bion Grady on February 9, 2011 at 6:21am

The Stop Foreclosure Institute recently received a question from Paul. Here is Paul's Question.

"I am thinking about a short sale, but I am behind on my property taxes. Will I still have to pay them if I short sale my home? Max."

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here is the answer to Paul's Question: In most cases your lender will pay those property taxes. Property taxes are a first priority lien on a property.

That means that if a property is foreclosed upon, then they still have to be paid. They don’t go away for any reason.

This is also why most lenders want to charge you monthly and then pay the property taxes themselves. They know that the taxes are a big bill that only comes once a year.

Not everyone can afford that big bill. Because your lender knows they will still have to pay the taxes after a foreclosure, they are willing to pay them during a short sale.

A foreclosure is a liquidation of the property to simply get what they can and move on. A short sale has been proven to net them more money than a foreclosure.

So if they are liquidating the property, why net more money from the sale with a short sale and avoid a foreclosure? That’s why they will pay the taxes when you short sale.

Every short sale the Stop Foreclosure Institute has sold resulted in the lender paying the property taxes that were owed. In some cases they paid 2-3 years of property taxes. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at bion@bionsellshomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 770-875-4268

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Powder Springs loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Bion Grady.

Bion is a Real Estate Agent at Maximum One Realty Greater Atlanta. Powder Springs Short Sales Realtor:

Phone: 770-875-4268. bion@bionsellshomes.com.

A Better Solution

View My homes for sale at www.bionsellshomes.com.

Bion Grady specializes in loan modification assistance and short sales in Powder Springs Georgia. Powder Springs Loan Modification Help, Powder Springs Short Sales. Powder Springs Short Sale Realtor , Short Sale Realtor. Powder Springs GA Short Sales. Powder Springs Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Bion Grady's personal views and do not reflect the views of Maximum One Realty Greater Atlanta.

This information on Will I Still Have To Pay Property Taxes If I Do A Powder Springs Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Short Sale 1099C Received - When Can They Purchase?

Posted by Maggie D on February 8, 2011 at 2:34pm

Hello. My clients completed a short sale w/ BOA in June 2010. The home had PMI & was an FHA loan. They received their 1099C last week. They want to know when they can legally purchase a new home w/o worry that someone would come back after them. They're doing a lease to own on a new house from their parents, but for all practical purposes are acting like they own the property. Is now ok to transfer the home into their name or should they wait until 2012 so there's more period between the two? The parents are financing the new mortgage so there's no credit recovery required....

Thanks,
Maggie

Birmingham Michigan Short Sale Agent Offers Straightforward Solutions to Avoid Foreclosure

Posted by Mike Sher on February 8, 2011 at 1:11pm

Birmingham Michigan Short Sale Agent Offers Straightforward Solutions to Avoid Foreclosure

Birmingham Short Sale Agent Offers Straightforward Solutions to Avoid Foreclosure

By Mike Sher, Max Broock Realtors

Dated: Feb 08, 2011

Bloomfield Short Sale Realtor Releases New Report Outlining Straightforward Solutions for Homeowners

Seeking to Avoid Foreclosure . www.ShortSaleOaklandCounty.com Services; Bloomfield, Birmingham,

Beverly Hills, Rochester, West Bloomfield and Troy.

Online report outlines lender participation and government programs for homeowners struggling to make

mortgage payments in Oakland County MI

Bloomfield Hills, MI , February 8th, 2011 - Local CDPE-designated agent, Mike Sher of Max Broock

Realtors, has developed a website report providing information regarding the availability of lender and

government programs to avoid foreclosure, including the Home Affordable Foreclosure Alternative

Program, or "HAFA."

This community resource is available at www.ShortSaleOaklandCounty.com and explains the benefits short sales, or selling a property for less than the current mortgage amount owed. Benefits include

decreased damage to credit, protection of security clearance and the potentially harmful affects of

foreclosure on employment. Some programs offer cash incentives for homeowners who are struggling mortgage payments and successfully complete a short sale or deed-in-lieu of foreclosure.

"Lenders and the federal government have recently updated and enhanced their foreclosure avoidance

programs, making more members of our community eligible for assistance." Sher said. "With this report,

I'm showing homeowners the benefits of short sales to their financial futures, and to the stability of our

community."

In late December 2010, the Department of the Treasury updated and improved eligibility standards for HAFA program. They also enhanced efficiency guidelines for lenders, streamlining the process and making

it a more effective solution for homeowners to avoid foreclosure.

Outline of government programs, loan modifications and short sales have been showing vast

improvements," Sher said. "Lenders are ramping up their resources and putting systems in place to make

their foreclosure alternative programs more efficient."

The CDPE Designation Sher has acquired provides a specific understanding of the complex issues

confronting distressed homeowners. Through comprehensive training and experience, CDPE-designated

agents are able to provide solutions for homeowners facing financial hardship in today's market.

To learn more, visit www.ShortSaleOaklandCounty.com

For more information about the CDPE Designation, visit www. CDPE.com.

###

2010 Results, 70 Units Sold, 26 Short Sales and 365 days of Focus!

For 10 years we have sold homes in the Metro Detroit/Oakland County through both Short Sales and

Traditional sales in Bloomfield, Birmingham, Troy, West Bloomfield and Etc.

Beverly Hills Michigan Short Sale Expert: Solving Your Mortgage Crisis Just Got Easier, Mike Sher, Max Broock (248)644-4700, Certified Distress Property Expert

Birmingham Michigan Short Sale Agent Offers Straightforward Solutions to Avoid Foreclosure

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Note: this page contains paid content.

Note: this page contains paid content.