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http://realestatemarketing.podomatic.com/entry/2014-10-01T15_10_45-07_00

Real Estate Marketing "The Podcast" How do I get listings or deals? #Investor #Realtor

David Bartels LIVE from Anaheim CA presentation

805-413-8000
http://www.homeloanadvocates.com/

Banks grant short sales for two reasons: the seller has a hardship, and the seller owes more on the mortgage than the home is worth.

The seller will need to prepare a financial package for submission to the short sale bank. Each bank has its own guidelines, but the basic procedure is similar from bank to bank.

A few examples of a hardship are:
Unemployment / reduced income
Divorce
Medical emergency
Job transfer out of town
Bankruptcy
Death

The seller’s short sale package will most likely consist of:
Letter of authorization, which lets your agent speak to the bank.
HUD-1 or preliminary net sheet
Completed financial statement
Seller’s hardship letter
2 years of tax returns
2 years of W-2s
Recent payroll stubs
Last 2 months of bank statements
Comparative market analysis or list of recent comparable sales

Writing the Short Sale Offer and Submitting to the Bank

Before a buyer writes a short sale offer, a buyer should ask his or her agent for a list of comparable sales.

Banks are not in the business of giving away a home at rock-bottom pricing. The bank will want to receive somewhat close to market value.

The short sale price may have little bearing on market value and may, in fact, be priced below the comparable sales to encourage multiple offers.

After the seller accepts the offer, the listing agent will send the following items to the bank:
Listing agreement
Executed purchase offer
Buyer’s pre-approval or proof of funds letter and copy of earnest money check
Seller’s short sale package.

The Short Sale Process at the Bank

Buyers may wait a very long time to get a response from the bank. It is imperative for the listing agent to regularly call the bank and keep careful notes of the short sale process.

Buyers may get so tired of waiting for short sale approval that they may feel the need to threaten to cancel if they don’t get an answer within a specified time period.

That type of attitude is self-defeating and will not speed up the short sale process. If buyers are the type with little patience, perhaps a short sale is not for them.

Following is a typical short sale process at the bank:
Bank acknowledges receipt of the file.
A negotiator is assigned.
The bank orders a valuation of the property.
The file is sent for review or to the investor.
The bank may then request that all parties sign an Arms-Length Affidavit.
The bank issues a short sale approval letter.

Some short sales get approval in 3 weeks. Others can take as long as 12 months. A typical Short Sale transaction takes 4-6 months to complete.

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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 
407-873-2747 
Co-founder of www.ShortSaleSuperstars.com. Working Short Sales every day all day.

Real Estate Broker and Owner of Tutas Towne Realty. A virtual Real Estate company specializing in listing and selling Short Sales and REO properties in the Central Florida Area.

Finding solutions that get your property “sold” is what I do.

Folks, if you need to sell your home then give me a call today and let’s talk! 407-873-2747 All calls are confidential. I can help……

….if you’re facing foreclosure. www.CentralFloridaShortSales.com 
….if you need to sell a Holiday Home. www.BuyProperty.ning.com 
….expose your property to over 500 web sites. www.TutasTowneRealty.com 
….educate you on current market conditions. www.BrokerBryant.com

Mike Linkenauger 
904-733-4911

Main website http://www.short-sale-specialists.com

Short Sale Websites - www.ShortSaleHosting.com
Mike got his start in Real Estate in 2005 at the young age of 26. He immediately established himself as a top producer in the Jacksonville, FL market, moving into the top 1% of agents his first year in the business. As the Florida housing market became depressed in 2007, Mike shifted his focus and immediately found a calling in assisting home owners with a short sale. In no time he amassed an inventory of over 100 short sale listings and quickly established himself as one of the top short sale agents in the State of Florida. As his online presence grew, homeowners from other parts of Florida began contacting him for guidance with a short sale and to be connected with a local short sale agent.

Simple Ways to Get Your Home Ready to Sell

For those homeowners that have waited to sell their home, heed the advice of Nike: “Just Do It.”  Interest rates are still really low and the upcoming changes in mortgage lending may disqualify some buyers.  Now is the time to sell your home.  In order to help your home sell quickly follow the timely advice offered below.

Spend a Little Now to Get More Later

With so many homes available many buyers are seeking out a property that is move-in ready.  This means that small repairs and maintenance items will possibly turn off some buyers.  Take a walk through the home and pick out the small things that need to be fixed.  Leaking faucets, a chipped tile, a flaky bit of paint and other similar items can negatively impact the appearance of your home.

You should also consider spending a little money to get the carpets thoroughly cleaned and ask a local heating/air conditioning company to service your unit.

Put Yourself in the Shoes of the Buyer

If you are looking for a new home, what items are important to you?  The majority of people want to live in a clean home that smells nice with lots of room in the closets, cabinets and other storage areas.  Therefore, you should put a lot of time in to making your home look clean, neat and organized. Start with the cabinets and closets.  Remove as much clutter as possible and even add some shelves if it helps improve the look.  Go through all the rooms and put everything away in a nice, orderly fashion.  Finally, get a few aroma dispensers and put them throughout the house.

Make People Interested in Coming Inside

So many homeowners spend time, money and a lot of effort improving the inside of the home that they ignore the outside appearance.  It is important to have an inviting appearance.  Homeowners should trim all the bushes, clean out the gutters, make sure the driveway and walkway are clear and clean the windows.  For people that have siding, consider power washing the siding as well.  It is really important that the front door and the surrounding entrance area look clean and homey.

Two Important Rooms: Bathrooms and Kitchens

The bathroom and kitchen will usually have more influence over selling a home than any other part of the house.  It is a good idea to go through these rooms and spend extra time, and even money, to make sure they look attractive and modern.

Many types of cabinets can be painted with a little bit of planning and work.  All bathroom plumbing should be in good working order.  Make sure there is plenty of light with good looking fixtures and that the ventilation to both the kitchen and bathroom is more than adequate.  Also, make sure the counters are clean and devoid of clutter.

It may seem like a crazy idea to spend money on a home that you are planning to sell.  However, spending money in the right areas can greatly improve your chances of selling the home faster and may yield a good return on the investment.

Why list your home with Rock Realty?? Rock Realty Marketing Outline

Recent Testimonials: Rock Realty Client Testimonials

Advice About Purchasing Your First Rental Home/Property
(Investment Properties: Part 1 of 5)

Before buying that first piece of rental property it is important that you answer a single question. This question has nothing to do with your credit score, your experience with real estate or how much money you can gather for the purchase. The question is quite simple: WHY are you buying an investment home?

The answer to this question will guide you towards the right kind of property and the right type of financing. Let’s look at some examples to get a better idea of reasons people use to start investing in homes.

Saving for College Tuition

This type of goal usually involves a term over a few years. Couples with young children will buy a home in an area that has shown signs of appreciating. A year or two before the child enters college the family will sell the home and use the profit to pay for tuition, books and other expenses.

In this particular scenario the couple is not concerned with making a large profit each month on the rent. They simply want to break even while keeping the home in tip-top shape to maximize the potential appreciation.

Using Cash Flow to Increase Monthly Income

Some individuals invest in rental homes because they want to earn a profit each month from the rent. In these cases it is extremely important to buy a home either for all cash or at a deep discount from the market price. Foreclosures and vacant homes are common for this example. Buying the home for cash or at a deep discount allows the landlord to charge a fair rent based on the current market conditions and pocket most of the money each month as profit.

Speculation about Future Values

Sometimes people simply buy a property at a slightly discounted price in hopes that the property value will escalate quickly due to a future event. For instance, a new shopping mall, new school or a new factory can greatly improve the value of homes in the immediate area. Buying a home in such a location and holding on to it for a few months to a year can yield a high profit.

Career Change

Some people want to begin their property investment as a means to escape their current full time job and start a new career. It is possible for people to invest in real estate as their main source of income. However, it is not a get rich quick scheme.

The most successful investors have clear goals and follow a proven formula. They buy homes in particular areas that exhibit desirable qualities. They only buy when the price is discounted heavily and they have favorable financing for the transaction. They also understand the rental rates for the area in comparison to the financing costs.

Buying a rental home can be lucrative and lead to good fortune. However, it must be approached with diligence and hard work, not pie-in-the-sky dreams.

Investment/Rental Properties (5 Part Series)

• Preparing to Purchase that First Rental Home (Part 1 of 5)
• Adding the Title of Landlord Behind your Name (Part 2 0f 5)
• Rental Property is Still a Safe Investment (Part 3 of 5)
• How to Pick Profitable Rental Properties (Part 4 of 5)
• Success Plan for Investing in Rental Property (Part 5 of 5)

The SMART Way to Buy Your First Short Sale

Buying a short sale in Madison Wisconsin is quite common right now. The impact of the financial recession has resulted in numerous foreclosures and has left some people with no option but to sell their home for less than the mortgage balance. Buying a Madison area Wisconsin short sale will require a bit of patience and a smart plan.

Understanding the Short Sale

Obviously, the best reason to buy a short sale is for the savings. Most of these properties are discounted as much as 20% off the market price. Buyers can save a considerable amount of money by negotiating the right deal with a motivated seller. However, a good price should only be one consideration. There are other things for the buyer to be aware of such as:

* In order to get a contract on a short sale, it is best to be the first person to contact the seller or selling agent. Being first puts you in more control of the transaction.

* Just because a property is being offered as a short sale does not make it a great deal. Some properties may need extensive work before they can be deemed a safe living environment.

* Banks typically frown on ridiculous low offers. A successful short sale will require you to offer a reasonable amount. This is where an agent can really come in handy.

* Based on the current number of short sales, banks are swamped with these requests. The process for moving the offer through the chain of command does not always progress in an orderly fashion. This requires the buyer to be flexible about a closing date.

All of this means that buying a short sale requires a solid plan; a plan that will get you in front of the right seller, with the right offer.

Putting Together a Good Plan

Follow this outline to help you develop a plan for buying your first short sale.

1. First and foremost, you need to meet with a real estate agent that has experience in short sale transactions. This will save you lots of time and trouble throughout the process. The agent can have a conversation with you to determine the type of house you need and look for possible short sale targets.

2. Determine a plan for responding when a short sale becomes available. Decide with your agent how the information will be communicated to you and how soon you can look over the home.

3. Set up a meeting with a local mortgage lender. Getting the financing secured ahead of time will help get your offer approved. A lender that is familiar with short sale transactions would also be beneficial since the closing may happen at any time and the lender will need to be prepared.

Understand that a short sale which seems like a good deal will likely draw attention from several buyers. The person that responds the quickest, with the best offer and the best plan in place, will likely win the bidding war.

UPLAND SHORT SALE AGENTS HELP AVOID FORECLOSURE

Don't make the biggest mistake ever... Do not let the bank foreclose on your Upland home!

Loan modification is a temporary fix and can still leave you with negative equity.

FIND CA REAL ESTATE AGENTS

A BETTER SOLUTION IS TO SHORT SALE YOUR UPLAND HOUSE

• A short sale can let your deficiency be forgiven
• In most cases a short sale can leave you with no tax liability
• Our short sale real estate services are at no cost to you
• And we can help you get out of your bad situation

Don't be fooled! The bank will come after you and foreclose your Upland house. They may even be able to get a judgment against you AFTER the foreclosure for the negative deficiency, which could be tens of thousands of dollars! But what is the difference between a foreclosure and a short sale? Here are your options of foreclosure vs. short sale:

CREDIT SCORE:

• A foreclosure will slash your credit score as much as 250 points or more, and can affect your credit for a minimum of 5 years or more!!!
• But a short sale only affects your credit score with the late or missed mortgage payments. The credit bureaus will report PAID or NEGOTIATED if you short sale.Your credit score will not be lowered as much with a short sale.

CREDIT HISTORY:

• A foreclosure will remain as public recorded on your credit report for 10 years or more.
• A short sale is not reported on a person's credit history. There is no specific SHORT SALE term and is most cases is reported as PAID, SETTLED or NEGOTIATED.

FUTURE MORTGAGE LOANS:

• If your credit report contains a foreclosure, most home mortgage lending institutions will consider you ineligible to purchase for 5 years or more.
• If you successfully negotiate a short sale of your Upland property you may be eligible for a mortgage loan and purchase a new home in as little as 2 years.

DEFICIENCY JUDGMENTS:

• Banks have the right to pursue a deficiency balance if your foreclosed loan was not a purchase money loan (If you received any money for anything other than the purchase of your house, also called a hard money loan).
• In a successful short sale it may be possible to negotiate with the bank to release you of any deficiency balance and avoid any future judgments against you.

Need more information?

CALL US NOW TO LIST AND SELL YOUR HOUSE IN UPLAND:

1 (888) 9 LIST-IT

or (951) 490-3683

or click here: Listing Agents in Upland CA

If you're are planning on selling your home and moving up, do your homework before offering your home for sale. Read the following story to see what can happen to home sellers who don't do their math.

A young family sold their home in California, before they determined how to buy their next house. All they thought about was moving into a larger home for their growing family.

Two years before, after this young couple purchased their first home, they bought a minivan with payments and increased their credit card debt with home furnishings purchases. Then, the wife quit working and decided to stay home with their baby. The family still had sufficient money to make all payments on time. They fell in love with a larger new model home in a nearby tract home development. The sales agent convinced them the new home would only cost them another $200 per month.

The family had no problem selling their home. To qualify for the new mortgage payment, they had to pay off the minivan, student loans, and the credit card debt. Out of their home sale proceeds, these payoffs left less than a 10% down payment for their new home.

Because of their changed income and low down payment, they didn't qualify for the new home of their choice. With only 5% down, the couple had to pay higher interest rates on a second to avoid mortgage insurance. Without the wife's second income, the total payment meant that they only qualified for a new mortgage for a home which cost less than the one they sold!

Before you put your home on the market, make sure you can buy the home you want.

Consider the following financial concerns:

Talk to a loan officer and check your credit. Don't get caught after selling your home, when it's too late, to repair any credit issues. Of course, you may have a great down payment from the sale of your home, but other bills like credit card debt, auto loans, and student loans may need to be paid off so you qualify for the new mortgage payments.

Find out how much of a monthly payment and the down payment amount you'll need to buy the home of your choice.

Do the math. How much can you expect to net from selling your home?

1.  Do you have a mortgage prepayment penalty that could eat up a significant amount of your equity?

2.  Determine selling commission expenses. Can you sell your home effectively on your own or do you need to pay 6% of your selling price for a real estate agent's expertise?

3.  Estimate your closing costs. Ask a local closing or escrow company for an estimated closing cost amount for a home in your price range.

4.  How much work does your home need to ready the property for a top-dollar sale? Which upgrades or redecorating expenses make sense financially?

Consider all the expenses of selling, determine your actual profit, match that amount to your down payment, and see how much of a home you can buy with your qualified monthly payment amount. After you do your math homework, you'll be ready to think about selling your home. Don't get caught like this young family and be forced into a lesser home.

Selling your home | Lawndale | Antonio Atoche

Your home is undoubtedly the most valuable asset for the vast majority of us and selling it will cost thousands. Using the money saving tips in this article should reduce the cost of moving home.

Estate Agent fees vary, so shopping around and don’t forget to haggle and pay one off against the other. You should aim for 1% commission, also push then to limit the tie-in period to no more than 6 weeks, this gives then enough time to sell the house, but if they can’t you can move to another agent without going “multi-agent” which will increase the fee to about 3%+, a big no-no! Ensure you get a fair valuation, never tell an estate agent what other agencies have valued your house at. They will use this to manipulate its offer, often resulting in wide distortions.

It is false economy to go for the cheapest solicitors, so get recommendations from all the estate agents you speak to and remember to ask for the name of specific people, rather than just the legal firms. Give them a call and ask what their charges are, also note whether they are they friendly, helpful, and most important efficient? Fees are negotiable so haggle! Play off each one against the other to get yourself the best service at the best price.

Selling you house privately can save thousands. One in twenty vendors are now taking the DIY route which could save you thousands. That is a massive money saving tip, but there are a couple of downsides, basically “time and effort”. You could consider newspaper advertising, flyers and signs. Newspapers usually charge per line or per word so try to keep your advert as brief as possible without making it uninteresting. The simplest way would to sell your house yourself is to use one of the many online house selling service.

Obviously it is best to sell your house when the market is strong and demand is high, so keep an eye on the local property market. Generally, the market tends to be stronger in early and late summer than the rest of the year, so aim to sell your house then. Also avoid completing with your neighbours so if there are already a few “For Sale” signs on your street, it might be better to wait a bit.

Research has shown that a poor presented house can take longer to sell and may reduce the price by thousands. So get your paint brushes out, give your home a lick of paint and finish all of those DIY jobs which are outstanding. Also talk to the estate agent about adding value to your property it maybe worth spending a bit of cash to make some more. However, be careful not to over spend, you might not get your money back, so talk all planned improvements through with your estate agent.

Antonio Atoche

310-345-1513

antonio@atocheralestate.com

www.upsidedownlosangeles.com

For more information visit https://www.google.com/

Selling your home | Lawndale | Antonio Atoche

Selling your home | Lawndale | Antonio Atoche

Selling your home | Lawndale | Antonio Atoche

Selling your home | Lawndale | Antonio Atoche

Selling your home | Lawndale | Antonio Atoche

Selling your home | Lawndale | Antonio Atoche

How to sell your home | Gardena | Antonio Atoche

For most people, the prospect of selling their home can be positively daunting. First of all, there are usually plenty of things to do just to get it ready for the market. Besides the traditional clean-up, paint-up, fix-up chores that invariably wind up costing more than you planned, there are always the overriding concerns about how much the market will bear and how much you will eventually wind up selling it for.

Will you get your asking price, or will you have to drop your price to make the deal? After all, your home is a major investment, no doubt a rather large one, so when it comes to selling it you want to get your highest possible return. Yet in spite of everyone's desire to get the top dollar for their property, most people are extremely unsure as to how to go about getting it. However, some savvy sellers have long known a little financial technique that has helped them to get top dollar for their property. In fact, on some rare occasions, they have even sold their properties for more than they were worth using this powerful financing tool. Although that might be the exception rather than the rule, you can certainly use this technique to get the most money possible when selling your property.

Seller carry-back, or take-back financing, has proven to be a surefire technique for closing deals. Even though most people do not think about when it comes to selling a property, they really should consider using it. According to the Federal Reserve, there are currently over 100 Billion dollars of seller carry-back (seller take-back) loans in existence. By any standard, that is a lot of money. But most importantly, it is also a very clear indication that more people are starting to use seller take-back financing techniques because it offers many financial benefits to both sellers and buyers. Basically, seller take-back financing is a relatively simple concept. A seller-take back loan is created when a property is sold and the seller performs like a lender by assisting in financing all or part of the total transaction. In effect, the seller is actually lending the buyer a certain amount of money toward the purchase price, while a traditional mortgage company usually funds the balance of the purchase price. A seller take-back loan is secured with the property. The loan then becomes the primary mortgage and is fully secured by the property. In most seller take-back financing transactions, the buyer repays the seller with interest in accordance to mutually agreed terms over a period of time. Usually, the terms call for the buyer to send the payments, consisting of principal and interest, on a monthly basis. This is advantageous because it creates a steady monthly cash flow for the note holder. And if the note holder decides to cash out, he or she can always sell the note for a lump sum cash payment.

Regardless of market conditions, seller take-back financing makes sound financial sense; whereas, it provides both buyer and seller with flexible financing options, makes the property easier to sell at higher price and shortens the sales cycle. It also has the added advantage of being an excellent investment that generates a steady cash flow and high return. If you ever need immediate cash, you can always sell the note through our office. If you are planning to sell a property, then consider the many benefits of seller take-back financing.

Antonio Atoche

310-345-1513

antonio@atocheralestate.com

www.upsidedownlosangeles.com

For more information visit https://www.google.com/

[caption id="attachment_30" align="alignnone" width="150"]How to sell your home | Gardena | Antonio Atoche[/caption]

How to sell your home | Gardena | Antonio Atoche

How to sell your home | Gardena | Antonio Atoche

How to sell your home | Gardena | Antonio Atoche

How to sell your home | Gardena | Antonio Atoche

How to sell your home | Gardena | Antonio Atoche

How to sell your home | Gardena | Antonio Atoche

The National Association of Realtors and the U.S. Department of the Treasury are collaborating to help Realtors better assist distressed homeowners who are struggling to Selling Your Home Through a Short Sale - Avoid Foreclosure.

Realtors who attend upcoming Making Home Affordable "Help for Homeowners" outreach events, sponsored by the Treasury Department, will learn insights to help them navigate the short sale process and have the opportunity to meet directly with loan servicers on their clients’ behalf for assistance with difficult transactions, according to a statement.

"As the nation’s leading advocate for homeownership and housing issues, Realtors are working hard to keep more people in their homes, and when a family is absolutely unable to keep their home, Realtors specializing in short sales, short sale specialists are there to help homeowners by facilitating a loan modification or short sale," said NAR President Moe Veissi, broker-owner of Veissi & Assoc. inc. in Miami.

"Help for Homeowners" community events will take place throughout the year; the first sessions are in Miami today and Tampa, Fla. on Feb. 24. Additional events are scheduled in Chicago, Indianapolis, Los Angeles, and Sacramento, Calif.

The sessions for real estate professionals are not open to homeowners, but borrowers who are in financial distress and concerned about losing their home to foreclosure are encouraged to attend the free homeowner sessions. Homeowners who are having difficulty paying their mortgage will be able to meet one-on-one with loan servicers and housing counselors to explore foreclosure prevention options and work toward solutions to their mortgage problems. Real estate professionals are encouraged to invite homeowners and their clients to the events and are welcome to accompany their clients in conversations with the servicers.

The Opland Group Specializes in Real Estate Sales, Luxury Home Sales, Short Sales in;  Bexley  Columbus  Delaware  Downtown  Dublin  Gahanna  Grandview Heights  Granville  Grove City  Groveport  Hilliard  Lewis Center  New Albany  Pickerington  Polaris  Powell   Upper Arlington  Westerville  Worthington

Is Your Mortgage out of Balance with your Budget?

 It can happen quickly....

An expensive car repair, an unexpected hospital visit, a missed week of work – just a few little things and the life you’ve worked so hard to build can feel like it’s tipping dangerously out of balance.

This is happening to many people here in Phoenix, Arizona.  Many hard working homeowners may even be having their hours at work cut back which has a huge impact on their financial stability.  One missed mortgage payment and it feels like you are always trying to play "catch-up".  It turns into a snow ball effect.

 Once the scales turn against you, it can feel like it is impossible to ever tip them back in your favor again. When your financial problems reach the point where they threaten your home, it is difficult to manage the stress. Sometimes it is even difficult to force yourself to seek help.

If you feel that you are headed toward Foreclosure, and need Foreclosure Solutions, or if you are avoiding facing that fact, the sooner you reach out for help, the better your options.  The impact of Foreclosure in Phoenix, Arizona is huge and the sad fact is that it’s often avoidable with other options and many cases it's usually a Short Sale.  The good news is that there are Foreclosure Solutions!

To find out if a Phoenix Short Sale is right for you...Click here for your...

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide financially-challenged homeowners with options to foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.

 Choose to face the challenge with a professional on your side.  Choose a Phoeinx Short Sale Agent.

 I can help you realign the balance in your financial life and tip the scales Backin your favor. Call or email me and schedule your free, confidential consultation. We can work together to make sure you end up ahead.

Arthur Wainio

www.shortsalewitharthur.com

Bank of America is making a process change that will reduce the processing time and improve customer service for HAFA Short Sales (Home Affordable Foreclosure Alternative Program) that are submitted with an offer.

The proposed change goes into effect Dec. 1, 2011, and impacts all short sales submitted with an offer in which the homeowner is eligible for the Home Affordable Foreclosure Alternative (HAFA) program.

When a short sale is submitted with an offer and the homeowner is HAFA eligible, we will no longer halt work on the file while waiting to contact the homeowner. HAFA eligible homeowners are no longer required to call our Short Sale Customer Care to indicate whether they will participate in the program.

Instead, real estate agents specializing in short sales can indicate a homeowner's HAFA interest by submitting the necessary documents to Equator within 14 days. During that 14-day window, the short sale will continue moving forward. By the end of the 14 days, if we have not received the requested HAFA documents, we will continue to process the file as a traditional short sale.

This change is being made because we are transitioning the processing of all HAFA short sales with an offer from our outsourced vendor partners to Bank of America associates. A Bank of America specialist will be able to seamlessly transition a file from our traditional process to the HAFA process, thus improving customer service and the borrower and agent experiences. Homeowner's and agents should be aware that Bank of America's outsourced vendor partners will, however, continue to process all short sales submitted without an offer.

Action required:  

Short sales initiated on Equator.com that receive a HAFA eligibility message no longer require homeowners to call Customer Care to confirm their interest.

-  If homeowners wish to participate in HAFA, agents must submit the requested documents within 14 days.  (Note: the 14-day period begins the day the HAFA solicitation letter is mailed to the homeowner. Agents can obtain the date of the letter from homeowner.) 

-  If you are unclear about which documents to submit, contact your short sale specialist via Equator messaging. 

Additional Recommendations:

Homeowners interested in understanding the benefits a HAFA short sale, including the $3,000 relocation incentive at closing are encouraged to review HAFA Program or the HAFA education guide to learn more.

Bank of America also has put together a HAFA Eligibility FAQ for interested homeowners

Interesting that they were last minute listings here in the Palm Springs, CA area.  One in North La Quinta and the other in West Indio..both had Sale Dates set of approx. 21 days out.  Both Sellers had been denied Loan Mods and were at wits end and OVER the banks!

Chase has always been tough for me, but this Short Sale was approved and sale date postponed within 3 weeks!  We are now about 3 weeks from closing which is amazing considering it's a VA loan.  Had to get around the Seller non-allowables, but so far, we're moving to close.

Wells Fargo, on the other hand, has always seemed relatively sane in my Short Sale dealings, so it was no surprise that they pushed their Sale Date back and gave me some time to maneuver my HAFA docs into position.  Just received the approval and we're set to close 11/7. 

Now..as we all know, getting approval letters, HUD-1's corrected, net sheets in order, inspections done, tenants moved, and whatever else can happen during the closing stages, does NOT guarantee a close and a pay check in the Short Sale Ether World.  But..it appears today that things are moving along as well as can be expected.

Focusing on Equity Sales today.  I've got an offer to write!!  Equity Sales are still happening in my area as long as the Seller can list their home for a number that WORKS with the current market. 

I'm listing and closing about 50% equity Sales and 50% Short Sales so we're running neck and neck for 2011. 

So you have determined that you owe more on your Kansas City home than it is worth and you need to sell because you cannot afford your home any longer.  You decide to short sale your Kansas City Home. 

There are some tips that I would like to share with you based on my experience in assisting a number of Kansas City homeowners short sale their homes.  Without each, your chances of a successful short sale of your Kansas City home will be diminished. 

This post is as to Tip 1 which seems really simple to answer.  But, unless you are absolutely certain of the answer to this, you will leave yourself open for an easy denial of your request for a short of your Kansas City home.

• TIP 1:  WHO DO YOU OWE ?  Anyone who has a lien or mortgage on your home must approve of your request for a short sale.  You might be surprised to learn that includes first, second, third mortgage holders, lines of credit, contractors and  any other entities or individuals that have placed liens on your home. 

As an agent for my short sale clients, this is a key starting point that I research.  Don't get caught at the end realizing that you failed to make a request for your short sale approval from all lien holders and now you cannot sell your Kansas City home via a short sale to a prospective buyer.

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• If you or someone you know don’t know what to do if you owe more than your home is worth, you are falling behind on your mortgage payments or you are currently facing foreclosure of your Kansas City home, Kansas or Missouri,  please continue to read the upcoming posts and Request a Free Confidential, no obligation, analysis of your home and options that may be available to you to help reduce the burden you may have.

Suzanne Hinton, your best choice for a Kansas City short sale expert.
 

(There are potential tax consequences that should be discussed with a tax professional. Please do not interpret this information as providing legal, tax or other professional advice which you should seek independently.)

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• Homes for sale in Kansas City    •What’s My Kansas City Home Worth In this Market

About the Author:

Suzanne Hinton
Hinton Homes-Affiliated with ReMax Premier Realty
Voted 5 Star Best in Customer Satisfaction Real Estate Agent
Phone: 816-520-0917
Email: shinton@remax.net
www.hintonhomes.com

©2011 Suzanne Hinton-Hinton Homes-Kansas City Short Sale Realtor
Kansas City Short Sales

I got an offer in January from an out of area Realtor on a duplex I had listed as a short sale.  I thought this was kinda strange they never saw the property that I knew of.  I figured maybe they where related to a tenant.

The beginning of April we had gotten approval. With no deficiency to sellers.  My seller had been difficult to deal with from the beginning, getting info to submit price changes, signing the offer, ect.

The buyer/Realtor told me she was new to all this and she was very confused.  She had been licensed since 2007 and I'm guessing not doing much in Real Estate.  I asked if they would be doing an inspection of the property.

The week before closing I was still trying to get the lease agreements from the seller.  During that time I had sent the buyer/Realtor an arms length affidavit. Two days later I was told the deal was off buyer/Realtor decided not to continue with the purchase.  By this time I had been pulling my hair out of my head getting the seller to co-operate.  One unit had no lease just month to month, I thought this was the reason for buyer was not going forward. Seller also stated no rent was received for April there was no security deposit and no last months rents paid for the unit with no lease.

I sent the buyer an email asking if they would reconsider if the tenant would sign a lease agreement.  We then got notice they would close. So I asked if we where still on for inspections.  I understood the buyers husband would be present and the hired inspector.  The morning of inspections I spoke to the tenant to clarify he never paid Aprils rent, no security deposit and no last months pre paid he told me that was all untrue.  Oh did I mention the buyers never showed for the inspection.  I had the tenant write a statement of the facts. The other tenant made a comment that she thought the sellers mother was buying the place, my comment was I wasn't aware of that.

Meanwhile I thought these people where crazy this inspector has no clue of what be was doing. I had never met this guy so I thought he must have been from the area where the buyer/Realtor is from. Then again was that my business? The property was bringing in a 14% cap rate and I thought that's why they where wanting to purchase.  This was Friday morning closing was for Monday afternoon.

That day (Friday) I got a fax from the seller stating she was as frustrated as I was and didn't appreciate my petty comments and I had a fiduciary to her.  Note I'm a transaction broker.  I didn't understand the comment of petty remarks.  If begging and pledging to get the seller to co-operate is petty then OK.  At this point I took all my info and her fax and sent it to our lawyer who was doing the closing and said until I hear back from you I will not respond to this seller.

Monday morning I find out from the attorney that the buyer/Realtor is the sellers aunt, the inspector was the sellers step father (not a home inspector) and the step father was purchasing this also because they had formed an LLC, that they wanted us to change names at closing to this LLC.  The closing agent at this stage said she quits.  At this point I could careless if it didn't close I felt total deceived by the buyer and seller.  At this point there was no arms length affidavit from either party.  Gee I wonder why? 

The buyers husband shows up to closing acting as he knew nothing and brings a definition from some ask search, what the IRS claims is an arms length transaction is.  Mean while he has the arms length affidavit  with the signature of the Realtor on it. I take this and make a copy, then tell them I will NOT sign this.  Then they tell me that I knew this all along supposedly the seller had told me this in February.  If I had known do you honestly think I would have worked so hard to get no where? 

I feel this Realtor/Buyer has major ethic issues and I would like to go forward with an ethics complaint would you?

The First Step To Consider Taking To Avoid A Foreclosure of Your Kansas City Realty.  My first post of "What To Do Right Now If You Are Facing Foreclosure of Your Kansas City Home" outlined that there are possible options to foreclosure of your Kansas City realty. This is the second post in a series of posts that I want to share.

Before deciding that there is nothing that you can do to avoid foreclosure of your home, STOP and consider all options available. The first being to "talk to your lender" about the alternatives available to avoid foreclosure of your Kansas City realty. You may be very surprised to learn that there are several newer programs being offered that are more realistic than those that were previously offered. The Home Affordable Modification Program is one example. Other programs that I will be blogging about require following certain guidelines be met prior to making application.

The bottom line is DON"T believe that there is nothing that you can do. There are possible options to avoid a foreclosure of your Kansas City realty. But, you have to take the first step. Contact your lender and if that does not offer an answer, then there are other possible options.

I really want to help educate the public and those in need of gathering as much information as possible to better understand what you may be able to do to either avoid a foreclosure of your Kansas City realty, Kansas or Missouri. I have really learned, while working with foreclosures of Kansas and Missouri homes and while assisting home sellers with their Kansas short sale and Missouri short sale that knowledge can be power in your making the right decisions for your current and future well-being.

I will continue to provide updates to this subject over a short period of time. If you are facing foreclosure of your Kansas City home, Kansas or Missouri, please continue to read the upcoming posts.

Request a Free Confidential, no obligation, short sale or pre foreclosure analysis of your home and options that may be available to you.

It has been my pleasure to help a number of Sellers with their Kansas short sale or Missouri short sale. Consider me an available resource to help you determine what the best direction is for you to attempt to avoid foreclosure of your Kansas City realty.

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Related Articles:

• Kansas City MO Bank of America Short Sale Listing Sold
• What To Do Right Now If You Are Facing Foreclosure of Your Kansas City Home

About the Author:

• Homes for sale in Kansas City Metro •What’s My Home Worth In this Market

Suzanne Hinton
Hinton Homes-Affiliated with ReMax Premier Realty
Voted 5 Star Best in Customer Satisfaction Real Estate Agent
Phone: 816-520-0917
Email: shinton@remax.net
www.hintonhomes.com

©2011 Suzanne Hinton-Hinton Homes-Kansas City Short Sale Realtor
Kansas City Short Sales

What to do right now if you are facing foreclosure of your Kansas City home. Having assisted numerous individuals and families facing the foreclosure of their Kansas City homes, for both Kansas and Missouri, I have witnessed first hand the need for educating the public as to foreclosures and short sales during what is a difficult and emotional time.

As we continue to hear in the media, foreclosures are on the rise, but yet there is so much uncertainty as to what a foreclosure really means as well as to what options may be available if you are facing a foreclosure of your Kansas City home.

For example, did you know that the laws of foreclosure are not the same in Kansas and Missouri? So many of the folks who contact me to discuss what options they may have in order to avoid their home being foreclosed, eg. Kansas short sale of their home or a Missouri short sale, do not realize that the steps and procedures involved in a foreclosure for Missouri are not the same as in Kansas.

These differences could greatly affect your decision as to what to do to avoid foreclosure of your Kansas City home.

I really want to help educate the public and those in need of gathering as much information as possible to better understand what you may be able to do to either avoid a foreclosure of your Kansas City home, Kansas or Missouri. I have really learned, while working with foreclosures of Kansas and Missouri homes and while assisting home sellers with their Kansas short sale and Missouri short sale that knowledge can be power in your making the right decisions for your current and future well being.

I will continue to provide updates to this subject over a short period of time. If you are facing foreclosure of your Kansas City home, Kansas or Missouri, please continue to read the upcoming posts.

Request a Free Confidential, no obligation, short sale or pre foreclosure analysis of your home and options that may be available to you.

It has been my pleasure to help a number of Sellers with their Kansas short sale or Missouri short sale.

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Related Articles

• Bank Of America Plans To Resume Some Foreclosures (huffingtonpost.com)
• Bank of America plans to resume some foreclosures (usatoday.com)

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If you want some great tips for buying or selling your home, without speaking to a realtor, just go to Facebook-Hinton Homes and click the "Free Tips" tab.

• Homes for sale in Kansas City

Suzanne Hinton
Hinton Homes-Affiliated with ReMax Premier Realty
Voted 5 Star Best in Customer Satisfaction Real Estate Agent
Phone: 816-520-0917
Email: shinton@remax.net
www.hintonhomes.com

• Facebook Users: Hinton Homes Realtors

©2010 Suzanne Hinton-Hinton Homes-Kansas City Short Sale Realtor Kansas City Short Sales

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

Pardon my "newness". I have been trying to avoid short sales and now have given in to the reality that they aren't going away. So, I have been researching short sale agents in my area and have run across this statement on a couple of websites:

4. WHY WOULD I USE YOU TO HELP ME RATHER THAN MY RELATIVE THAT ALSO HAS A REAL ESTATE LICENSE?

Most banks will not stop the foreclosure process and start the short sale process until you have an offer on your home. We start the process by making an offer on your home. The key to a successful short sale is the BPO or Appraisal. The bank will determine what it will accept based on this number. Our team includes an appraiser and an experienced BPO agent that will provide the bank with this information and get the deal done.

IS THIS SOMETHING THAT IS NORMAL? Have I completely missed the boat here?