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Forclosure property in Panama City Beach(vacant for 2.5 years) lost in space

Posted by John M. Acaron on February 8, 2011 at 8:44am
First,  I try to purchase the property via short sale. After 6 months of fooling around with the owners to get the paper work into the system the owner got fed up and let the property go into foreclosure. Now the property is been vacant  for over two years and deteriorating. Nobody to contact, no place to go. I have a few friends tracking it down to see if it shows up in the MLS and nothing. It is like lost in space. Anybody has a clue how to figure out what is going on or who to call? If so, contact me at: HOMEINSPECTORUSA 850-814-3889 (John) or visit my website and send me a message. www.homeinspectorusa.biz  Thank you!
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Short Sale Heaven

Posted by Ed Clements SFR, HELP Certified on August 24, 2010 at 5:19am

Short Sale , Deed in Lieu, Loan Modification, Foreclosure, HAMP, HAFA in California and what they mean to you.


Under the HAFA program you have the option of doing a Short Sale or Deed in Lieu. According to current FHA guidelines you can buy another home 2 years after the short sale. The lenders are required to give you at least 120 days to market the home and obtain an offer. The lender does not have to give you more time and you are required to follow the guidelines set forth by the lenders. Many lenders are closing short sales sooner than 120 days so be prepared to move. The only thing I have seen that has been extending the short sale timelines is Mortgage Insurance.


A Deed in Lieu is when you sign the deed over to the lender and walk away from the house. The lender has to give you permission to do so and it has to be a clean marketable title. That means no other liens on the property, second mortgage, mechanics lien, taxes are paid, etc.

Visit my website: www.edsellsre.com

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Here it comes...tax credit deadline crunch yet again...

Posted by DanaVoelzke on April 12, 2010 at 4:21pm

As the tax credit deadline of contracts signed by April 30th with the close of escrow deadline of June 30th, we are starting to see a lot of questions again about whether or not a buyer in the market now can still take advantage of the Home Buyer tax credit. Here is a post on Trulia bringing up this question.

My understanding according to the IRS website is that a binding contract must be signed by April 30th and bank approval will obviously be needed to close in time for the July 1st deadline.

Has anyone learned of any additional reasons why someone who signs a binding contract in the next two weeks would NOT be able to obtain the credit if bank short sale approval were issued in time for the buyer to close by 7/1/10?

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GET IT OVER WITH!

Posted by Sue Burg on October 30, 2009 at 10:49am
At a recent bi-weekly meeting one of our top agents was asked to speak on the short sale subject. Many of us were frustrated and he seemed to get a high number of his through the system. Well, the first thing he says is "lets just get this foreclosure stuff over with and foreclose on all the houses that are obviously going to get posted" A cheer went up from most of us. He went on to explain that if they were all forclosed on then we could just get on with the work of selling them instead of all the other BS that goes along with them. No one wants to loose their home. The loan modification program is not working, its so obvious my 12 year old niece knows this. 28% of all homes that actually get a loan modification approved are back in trouble within 3 months. So, if we just foreclose on them we can move them out of the system and get to the business of doing real deals on real homes that are going to sell without all the hassel, trouble, and legalities.I personally have seen agents pulling Motrin out of their desks because they have just been on the phone dealing with the banks, seller, buyer and anyone else involved with a short sale. It's heart breaking when you loose a house after so much trouble. It's even worse when your buyer just dosen't want to deal with the trauma of it any longer and they decide to wait. They get emotionally drained. Now, you may have lost a client because of frustration and time. We do everything we can to keep them motivated. But, its hard to keep holding someones hand while writting yet another offer that already has 5 to 15 offers on it. No matter how you counsel your client if they like that house your going to write that offer, it's your job. So, if we get the "dead" houses out of the market then we can move on. I know a lot of you are going "thats a horrible thing to say. People do not want to loose their houses and they should be able to go through the process". I've been in the healthcare field for 18 years. Death and renewal is a part of my life. I can turn myself on. I can turn myself off. Being a realtor is like that. We are supposed to do our job without emotion, be impartial and give our clients our best counsel everyday. You can't do that if you are crying about their house. It's our job to help them get out from under a bad situation, counsel them about it, refer them to the right counsel and get it done. I feel awful whenever I need to counsel someone whose gone Tax Delinquent. I really feel for the home owner, It hurts me on a level no one will ever know. But, the truth is, if I get emotional I can't give them the right counsel. I can't help them get over it and move on. Thats when they loose the house to auction. I have empathy, not sympathy (look up the difference). So many of us need to learn to turn flip the switch. We are in a hard time, but we need to keep our heads and get our jobs done.
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WHO ARE YOU?

Posted by Sue Burg on October 19, 2009 at 3:15pm
I have had much trouble figuring out that question lately. Who am I? Going into Real Estate and leaving behind a world I've called home for the last 18 years has given me the biggest identity crisis I've ever had. I needed to leave nursing and had a Real Estate license, so why not? But try as I might I haden't been able to pull it all together. Then one miraculous day I woke up and realized that I was going about it all wrong. The depression was from not accepting the inevitable, my nursing career is over.Now I can move on. I began working, not in the office, but outside where the people are. Suddenly, I get it. Not that I didn't before, but I was spinning my wheels and going nowhere. Now, I get it. I was trying to be the executive I was when I was in my twenties. I'm trying to be Miss Burg. . .Susan. I haven't been called that in about 20 years. I've been Sue for the last 18 and my whole person has changed. Once I realized that I moved quickly to change everything. My name plate now reads Sue Burg. I stoped looking for a business 'brand' for myself once I realized that this was not the first time I had to pull myself from the ashes and rebuild much like a Phoenix comes again and again from the ashes. Wait, did I say Phoenix and ashes? It's a rebirth that I have gone through! I have 'branded' myself Phoenix Rising, RES and changed every web site I have to reflect that.It's a strange feeling not knowing who you are and having to find yourself again. I've gone through my rebirth and feel as though I've been through the fire again. Only, now I feel happy on the inside, in the pit of my stomach I can feel it. I feel successful again and I'm ready to crush it!
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