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Short sales are notorious for their duration to close. It was only years ago when we saw short sales take sometimes up to 2 years to close, causing insurmountable stress to all parties, especially to the seller. So why do short sales take so long? One could easily blame the banks for the delay. However, that accusation does not apply to most banks in 2013. Systems have been upgraded, buyers are buying, and incentives to short sell for both banks and sellers have boosted. So why would a short sale take so long?

Homeowner Motivation

We set expectations from the beginning with all of our clients. A short sale is great deal for the homeowners but it will require about 90-120 days of effort to get the job done. Agent’s who have done short sales will know this. Homeowners who delay in submitting requested documents are the ones who end up prolonging the deal longer than it should and/or losing their home to foreclosure. The lack of motivation on the homeowner’s part will diminish the motivation of the other players.

Who are these other players? The banks/lenders and the buyers.

Bank/Lender: If you’ve ever dealt with them via a loan modification process, you will know they need accurate documents in a timely fashion. Documents have an age. They will ask you to resubmit your paystubs or bank statements if they are outdated. I’ve heard many files closing because of the lack of recent seller documentation.

There could also be two liens meaning you will have to submit the package to two banks and deal with another party. Often times, the second lien is not easy to deal with because they typically receive a much smaller payoff.

Buyers: A couple of years ago, the buyers were one of the most difficult parties to retain in a deal. Buyers are much more motivated now because of the low inventory but put yourselves in their shoes. You have money (cash or preapproved) and you have opportunities around you. There is usually an emotional tie into buying a home. If you have to wait more than 3-4 months on a home, how likely are you to lose that emotion and run off to another opportunity during those 4+ months?

Short sales are like a 3-4 month boot camp. We have been fortunate with our clients thus far but we’ve also set expectations from the beginning. Agents, please show your clients this article before starting them off on a short sale or you could easily waste 4+ months of time, energy, and money. Article here:

The listing agent is another player and is the most important one and as you can read in my many articles, I have high expectations for them.

Hope this helps

Peter from www.seattleshortsaleblog.com

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Ever dreamt to have your own home? If your budget has always been tight in the recent years, then your dream of purchasing home has already been shattered. However, it is still possible to buy a house for yourself even with poor financial condition. The mortgage loans have made it all possible for almost everyone to buy their own home where they can stay safely with your loved ones. Besides this, a home buyer can also look for homes for sale that are recently in the market since they can be purchased at a much less price in comparison to buying a completely new home. With so many options available, you can surely fulfill the dream of buying your own home.
Buying homes for sale – Is it really a good decision?
While buying home is certainly difficult in the present economy, choosing the homes that are already on sale can be a good decision. The main reason behind this is most people do not have sufficient money with them and as such, has to step back even when they want to get a house. But, the home owners who have put their own home for sale have done this because they either are facing monetary problems or want to buy a new home. You can take the advantage of this by choosing a home that is on sale. See that the house you wish to buy is reasonable in price and will fit within your budget.
Purchase your own home – How can you do so?
If you are facing monetary problems and still want to purchase your own home, then you may take out a mortgage loan. Make sure you’ve good credit so that you can get loan approval easily. Keep in mind that no lender will approve your loan request if your credit score is poor. Do thorough shopping to get a house for yourself. With so many homes in the market, it’s not that easy to find one. Moreover, if you are buying home for the first time, you will definitely find a lot of difficulty to search for the right home. It will be best to appoint an agent who deals with several kinds of home and helps home buyer get the perfect one as per their need. Tell him the exact kind of home you are looking for. He will help you get one soon.
Thus, you will surely be able to find a home for yourself that is within your budget.
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12433927463?profile=original

 

Good morning Superstars.

 

Here are this week's Superstar discussions.

 

DiscussionsRepliesLatest Activity

Nationstar / Auction.com

What's your story? Is your client being forced into Auction.com?

Started by Thom Colby CA Broker

148 hours ago
Reply by Karen Warren

Promissory Note Counter Offer

I have been working this short sale for 6 months. BofA countered and the original cash buyer walked. I advised the negotiator that I had a…

Started by Karen Warren

108 hours ago
Reply by Karen Warren

3rd Party Negotiator Fee Denied by FNMA...Now He's Trying to Get Agents to Pay From Commissions

Hello all, I am looking for some insight on this situation. Fannie Mae approved this short-sale (again). When first approved, they approv…

Started by Jay Nealy

816 hours ago
Reply by Patricia Bravo

Can a homeowner get an approved loan mod if home has equity?

Has anyone seen a trial loan mod or a permanate loan mod approved to a homeowner with equity in his home? Do different lenders have differe…

Started by Gisele Albrecht

417 hours ago
Reply by Kevin - Greenville, SC

Chase FHA Loan - What are the occupancy guidelines?

Does owner still need to occupy home?

Started by Terri Doyle

522 hours ago
Reply by Simon Campbell

Short Sale with a Judgement in 3rd position

hi all! I have a sale that has a 1st w/BofA at 460,000, a 2nd that WAS BofA and is now Nationstar (just last week in the middle of my nego…

Started by Gael Adair Grove, CDPE/SFR/ePro

1023 hours ago
Reply by Simon Campbell

Question about closing and homeowners ins.

Hi everyone. The last month and a half has been a whirlwind. We put an offer in on a condo and it was accepted, and thin…

Started by Lauren O

223 hours ago
Reply by Simon Campbell

Nation Star Nightmare

Can anyone help me get Nationstar to address my file before foreclosure on 3/28? Full file has been before them since Feb. Asked for more…

Started by Melinda johnson

2yesterday
Reply by Patricia Bravo

Best method to manage a poor Short Sale Negotiator @ B of A?

I am struggling to get my SS Neg to communicate at B of A. They have already assigned me to a new one that is no better. The short sale i…

Started by Matthew Jeschke

7yesterday
Reply by Patricia Bravo

12433916279?profile=original

13 Training Sessions

$25 Each

(Audios are 45-90 min each).

  • Why a Short Sale?
  • Qualifying The Seller
  • Pricing and Marketing The Property
  • Negotiating Techniques 1
  • HUD1 Tips
  • Escalation and Communication Tips
  • Disputing Bad BPOs
  • Cash Contributions and Prom Notes
  • Negotiating Junior Liens
  • Lead Generation
  • 10 Short Sale Mistakes
  • VA, HAP and FHA
  • Getting Short Sales Closed

VISIT THE STORE NOW

***Use discount code sss10000 for a $50 instant savings

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List Now Or Wait Until Spring?

The mountain tops are white again. Temperatures are also predicted to drop making it seem like autumn is giving way to winter in the region. Is the myth that the real estate market goes dormant like our lawns until Spring true?

Just as the mountains can be more of a psychological than physical barrier to travel in adverse conditions of snow or heavy tourist traffic, so can the changes of the seasons be a psychological barrier to Seller's perception of Buyer activity. The old days of moving your family in the summer when school is out are long gone. Life moves too fast for that. If you have a job transfer opportunity it is usually available immediately, not next summer. You may choose to move your family later to finish a school year, but we see families renting, or moving in with friends or families rather than forestall the sale of their home and move of the primary income provider.

If you are thinking of selling start by assessing your situation: Why do you want to sell? Do you have to sell? Do you have to move? How soon do you want to be sold and closed? Do you have to be somewhere? Are you looking to move up in the market? Move down? Are you behind in payments or struggling to make your payments? Whatever your reason, if you want to sell there is no reason not to be offered for sale right now.  We are in a seller’s market.

Many business successes are achieved by going in the opposite direction of the majority. If most people are waiting until Spring to list their home and Buyers continue to want to buy houses, you are much better off being available when the Buyer wants to buy rather than when Sellers think Buyers want to buy. Another big advantage to being on the market in the "off season" is to achieve separation in the market. When the glut of Spring inventory hits there is a lot of competition. Achieve separation in the market by being on the market.

 If you don't want showings during the inclement weather to protect your floor covering consider having shoe covers available. If you don't want to move in the winter consider a lease back situation that will give you time to experience a break in the weather. There are many more circumstantial situations you can create, but be sure you are true to yourself in evaluating their relative importance to you. Do you want to be sold and moved with a little moving stress, or waiting for the perfect situation and not have a Buyer to help you affect it?

 My Advice: Just as extreme heat in the summer slows the impulse looker, so do snow flurries in the winter. It doesn't stop the serious Buyer, however, and many homes are sold through the course of a winter. I love showing property in the snow because I know the Buyer is serious. Casual Buyers don't usually forego their creature comforts to look at property in challenging weather circumstances. Buyers in Northern Nevada are active year round. We may have more "bodies" through in the summer months, but there are more true Buyers per prospect in the winter. Be available and let them in and be sold before your neighbor is even listed.

There is no perfect timing in our industry other than what happens when a Buyer and Seller come together, whenever that may be. Control your circumstances and make sure that you are correctly priced, looking good, and ready for that Buyer that is looking to buy your home. You can't catch a fish with your hook in the boat. You can't catch a Buyer if you aren't on the market.    When it comes to choosing professionals to assist you with your real estate needs... Experience is Priceless!   I offer a multi-media marketing plan with Television, Newspaper, and Internet.  Your referrals are appreciated!   

Kevin 775.813.2387

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......and I quote:

"......no Mr. Benita, you are not yet authorized on the account so I can NOT GIVE YOU THE PHONE NUMBER FOR THAT DEPARTMENT!!!"

Uh....really?  I need to be authorized for you to give me a phone number?

NEEDLESS to say I called someone I know at the bank and "got my way"......BUT IT SEEMS B of A STILL has some MORONIC policies!!!

Best of luck to ANYONE dealing with these!!!

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To know me is to know that I LOVE peanut butter...I love it on a spoon by itself, on bread, with jelly, without jelly, with bananas, etc...I think you get the picture.

When someone felt it prudent to mix peanut butter with chocolate.....OH MY!!!! I was in absolute peanut buttery heaven!!!!

 

Now that you know how I feel about the peanut butter and chocolate.......

 

Recently...Bank of America announced that it was now processing it's FHA short sales through Equator!!!

 

WHADDAYA MEAN????

 

Gone are the days of

*Endless faxes that apparently dump into a black hole never to be retrieved again

*Unanswered phone calls that seemingly fall into a telephonic abysss

*Having to repeatedly update docs that have expired because it's been 8 months and the file still hasn't even been assigned

Alas.....I've found that warm fuzzy feeling that I've only been able to receive from peanut butter and chocolate...Bank of American PFS Short Sales and Equator....I've found a new love!

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wells escallation help

Hi have a FHA short sale and Wells keeps procrastinating on the APT

they keep ordering appraisals and now I get a "is there an offer ( foreclosure warning)  the customer service is not customer service.

I need to escalate can anyone help with a contact ?

thanks

Gina Smith

Seattle

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Has anyone experienced a short sale being ignored? Wells Fargo states there is nothing they can do to stop foreclosure unless we upload to equator, Equator states we must first go through Fannie Mae.  Fannie Mae states we must first go through equator.  This has gone on for over two weeks, seller has tried to call.. Fannie Mae and Wells Fargo tell the sellers the agent needs to upload the Short Sale to Equator.. Its the run around !!  Time is running out..!! Cash buyer over asking and we can't get a straight answer out of anyone..  Is there any hope of getting this short sale on the fast track?

I have never had any trouble in the past with Wells Fargo Short Sales or Fannie Mae short sales, but I feel a ROBO Stamping in Action !!

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PNC Bank

Well, I have read all the blogs on PNC Bank as 2nd lien holder and was hesitate to take this short sale listing, but myself and the borrower spoke with the PNC Bank Short Sale Dept before I ever listed the property and I was assured that they would settle for whatever the 1st lien holder offered and the deficiency judgment would be waived. Encouraged by this I listed the property last October and after several price reductions finally received an acceptable offer. BoA was onboard, they ordered their appraisal, etc and even recommended list price and reductions every 21 days. All the necessary paperwork was submitted to both lien holders and then BAM!  PNC Bank stated that they wanted $67,100 for their pay-off and then they would also file a 1099-C to IRS for the difference and pursue the deficiency judgment! What?!! This is not what I was originally told and now PNC Bank is denying that they ever said this. After numerous phone calls, emails, etc. When I informed PNC Bank that the max BoA would pay was $8500, they told me that I could get the money from the seller, buyer or cough up some of my commission! What?!

 

All said and done, the deal is dead, sellers will be foreclosed on, PNC Bank will receive NOTHING and everyone's time has been wasted.

 

This was my first deal with PNC Bank and it will be my last! I hope they go under!

 

 

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12433927463?profile=original

 

Good morning Superstars.

Banks prohibited from entering into real estate brokerage and management businesses? Right. And pigs fly.

In 2001, the Federal Reserve Board and the U.S. Treasury Department proposed rules allowing national bank conglomerates to engage in real estate brokerage and management. The rule would have reclassified these activities as financial in nature.

 

The National Association of Realtors was dead set against this and used their powerful lobbying force to fight.

NAR's position was that.....

  • "Allowing large, national banking conglomerates into real estate would create anti-competitive and anti-consumer concentrations of power within the industry." Read full article

On March 11, 2009, President Obama signed into law the FY2009 Omnibus Appropriations Act that permanently prohibits banks from entering the real estate brokerage and management businesses.

Fast forward to today.

When was the last time you did a Real Estate transaction that the Banks didn't control? In my market area of Poinciana Florida approximately 65% of all real estate transactions are either REOs or Short Sales. In both cases the Banks are in control.

The Banks control the real estate commission by limiting how much we can charge and how we can charge. The once "always negotiable" commission is now set at 6% whether we like to or not. Anti-competitive and, in my opinion, a direct violation of Sherman Anti-Trust Laws.

Banks are also.....

  • Interfering with Fiduciary relationships.
  • Interfering with contracts.
  • Taking away the rights of a property owner by placing restrictions on who can purchase real estate.
  • Restricting when a new owner can resale the property.
  • Restricting who a new owner can rent to.
  • Dictating how the home is sold. Think auction.com

Banks are doing everything they can to make selling and purchasing Real Estate difficult. Banks are making up the rules as they go along and most make no sense whatsoever. So agents, buyers and sellers are thinking of ways to skirt around these unreasonable rules. Problem is.....we can't act illegally or unethically just because the bank is doing so.

Banks prohibited from entering into real estate brokerage and management businesses? Right. And pigs fly.

12433916279?profile=original

13 Training Sessions

$25 Each

(Audios are 45-90 min each).

  • Why a Short Sale?
  • Qualifying The Seller
  • Pricing and Marketing The Property
  • Negotiating Techniques 1
  • HUD1 Tips
  • Escalation and Communication Tips
  • Disputing Bad BPOs
  • Cash Contributions and Prom Notes
  • Negotiating Junior Liens
  • Lead Generation
  • 10 Short Sale Mistakes
  • VA, HAP and FHA
  • Getting Short Sales Closed

VISIT THE STORE NOW

***Use discount code sss10000 for a $50 instant savings

Read more…

FOR IMMEDIATE RELEASE                          For more information, please contact:

Michael Collins, CDPE, SFR, BPOR
608-921-8536
Mike@RockRealtyWI.com

Local Agent Provides Alternatives for Homeowners Facing Foreclosure

Online report outlines alternatives to foreclosure for distressed homeowners in Dane & Rock County Wisconsin, including Janesville, Madison, Milton, Stoughton, Oregon, Monona, Edgerton, McFarland, Evansville, Verona, Fitchburg, Brooklyn & .

CDPEReflectionLogoJanesville, WI – (3/19/2013) – Local CDPE-designated agent, Michael Collins of Rock Realty, has developed a website providing information describing several opportunities for homeowners to avoid the negative financial impact of foreclosure.

This community resource is available at www.WIShortSaleHomes.com and defines foreclosure alternatives including short sales, loan modifications, and forbearance.

“It’s a concern to me that so few in our community know their options when they start to fall behind on mortgage payments,” Collins said.  “If they act quickly and get informed, they can make informed decisions to find financial stability.”

Foreclosure alternatives such as short sales—which now make up over one-third of real estate closings across the nation—are an increasingly popular way for both homeowners and lenders to minimize their losses in this tough economy.

“More lenders are realizing that they can save money in a short sale versus a foreclosure, and are more likely than they were three years ago to approve a short sale offer.” Collins said.  “This is good news for homeowners because they now have more options than ever.”

The CDPE designation Michael Collins has acquired provides real estate professionals with 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.

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

IMPORTANT GOVERNMENT DISCLOSURE: You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you will not have to pay us for our services. The above brokerage is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
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New one -

Anyone know WTF "litigation status" means?  

Pardon the "WTF" if you are offended but I hit a roadblock this afternoon with a SCHMUCK of a negotiator who said she could not even tell me what that means!!!!    

We can do NOTHING on the file while it is in this status and I am trying to see exactly what it is (I do have calls in to higher ups but figured I would check here as well).....

Any input is welcome, I am at Ben@ShortSaleShop.net if you want to buzz me off here.

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Short Sale vs Loan Mod vs Refinance

The three big options for homeowners are short sales, loan modifications and refinance. What have you seen that actually worked?

Options: Refinance, Loan Modification, Short sale.

Refinance

Basics: Refinancing is when you are paying off your old loan with a new loan with lower interest rates.

  • The goods: This option is suitable for those who plan on staying in their home for awhile and/or those who are in an adjustable mortgage rate situation and want to solidify a fixed interest rate.
  • The bads: You will be paying closing costs when you refinance and in order to refinance, you must have equity in your home.

Loan Modification

Basics: A Loan modification is typically when you modify the current loan to make payments more affordable via lower interest rates and/or extending the duration of the loan (30yr to 35yr).

  • The goods: Loan mods can be a means to prevent foreclosure when you are delinquent on payments. Lowering payments could result in a more affordable living situation.
  • The bads: Back in 2010, the Today Show reported loan mods helped only 5% of applicants. Yes, it does lower payments and prevent foreclosure but it does not lower the 5 hidden costs of homeownership. The home may still be above your affordability level. In the long run, a loan mod would prolong the problem and not fix it as you are simply extending the term of the loan thus paying more payments/interest and not building equity.

Short Sale

Basics: A Short sale is when you sell your property for less than what is owed and negotiate the difference with your lender.

  • The goods: A short sale allows the homeowner to walk away from their home and in most cases, be forgiven of the remaining balance owed to the lender(s). Normally there are taxes involved with the forgiven balance. However, until the end of 2013, the Mortgage Forgiveness Debt Relief act grants immunity on primary residences.
  • The bads: A short sale will put a ding on your credit score and it will take about 90-120 months to complete one.

These are just the basics but would love to know what your experience is on each of these options.

Thanks

www.seattleshortsaleblog.com

 

 

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First off, I'd like to say that I'm completely thrilled that our Real Estate markets are rebounding (quite well in some areas)! Secondly, I'd like to say that I am, in no way, against Investor Purchasers. In fact, I love them.....well, at least I like 'em a lot. However, no matter how well our markets are doing or how long we've been in the industry, we still must deal with the lunacy and absolute hilarity of some Purchasers.
Here's the short version......
Beautiful traditional home (4/2.5) on a full basement listed as a short sale for only $124,900. Mass investor Purchaser offers $131,000. We contract with the investor who completes home inspections. No repairs are requested. On the last day of due diligence, Buyer advises that they no longer believe that they'll be able to get the initially estimated rental rate for the property and will proceed with purchase as long as Seller reduces to $115,000. I quickly notify the Seller's lender and am advised that the BPO came in a little high and that $131K with no closing costs barely met their mininum. We eventually terminate with this Buyer and increase the purchase price to $139,900.
Two days after placing the property BACK on the market, I receive another offer from the same Purchaser....for $134k. I contact the agent to ask what was different now as opposed to last week when the Buyer needed to reduce to $115K. She then informed me that this particular Buyer makes blind offers and basically throws a lot of contracts against the wall to see which ones stick.
Who has time to waste like that???? Yep....just another Monday morning in the world of Real Estate
 
Vanessa M Calhoun, Real Estate Consultant
Better Homes and Gardens Real Estate Metro Brokers
209 Newnan Crossing Bypass
Newnan, GA 30263
404-843-2500 (office)
678-406-8432 (direct)
770-254-4985 (fax)
vanessa.calhoun@metrobrokers.com
www.vanessacalhoun.com

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NEWSLETTER: Is Fannie Mae Price Fixing?

12433927463?profile=original

 

Good morning Superstars.

Here's a sampling of this week's superstar discussions.

 

DiscussionsRepliesLatest Activity

FANNIE MAE COMMITTING FRAUD IN SHORTSALE BPO VALUATIONS! OVER INFLATED PRICE FIXING!

Anyone out there experiencing the short sale nightmares going on with Fannie Mae with OVER INFLATED pricing going on and OVER INFLATED VALU…

Started by Sheyenne Schultz

39 hours ago
Reply by Victoria Frieberg

New Property Preservation Teams Changing Locks on Short Sale Properties

We have had two recent approved Short Sales from SETERUS and OCWEN who have sent in Preservation Teams from (Safeguard Properties) to chang…

Started by Michael P. Jensen

410 hours ago
Reply by Victoria Frieberg

GREEN TREE and FNMA appraisal

I am in contract and offer price is 161K. Home in in LAS VEGAS and with GREEN TREE, sale date is 5/1/2013. Same model & size and bit be…

Started by Wearesc

213 hours ago
Reply by Wearesc

Nationstar shortsale...Buyer using Nationstar for new loan

UGH!! This was a very very bad idea! Should have never let buyers do this, but they wanted to because it was the only way Nationstar would…

Started by Alicia Messa

218 hours ago
Reply by Kathleen Lordbock

Dignified Transition Services - DTS

DTS has been running ramped in my area contacting any realtor with a listed Bank of America loan, any one else experiencing this?

Started by Sabrina Teplin

518 hours ago
Reply by Lisa D Arnold

RPR and Fannie Mae

Comments on this announcement from RPR (Realtor Property Resource) and Fannie Mae. ? RPR Teams With Fannie to Speed Short Sales DAILY REAL…

Started by Wendy Rulnick

18yesterday
Reply by Sheyenne Schultz

FROM NAR: GSE Short Sale Valuation Problems

THIS ARTICLE IS FROM NAR Beginning in the latter part of 2012, a number of REALTORS® across the country reported that Fannie Mae had start…

Started by you

24yesterday
Reply by Wearesc

Is it investment property or not?

I have a seller who was living in his house up until the time that he moved in with his girlfriend. He was renting his house out until the…

Started by Joanne Finochio

4yesterday
Reply by Simon Campbell

Bank of America Backs Down on Short Sale Request Due to Social Media

Being persistent is the only way to get short sales to close but when I got BOA's latest request I was floored. Sign Purchase Contract fo…

Started by Evelyn Santiago

2yesterday
Reply by Simon Campbell

12433916279?profile=original

13 Training Sessions

$25 Each

(Audios are 45-90 min each).

  • Why a Short Sale?
  • Qualifying The Seller
  • Pricing and Marketing The Property
  • Negotiating Techniques 1
  • HUD1 Tips
  • Escalation and Communication Tips
  • Disputing Bad BPOs
  • Cash Contributions and Prom Notes
  • Negotiating Junior Liens
  • Lead Generation
  • 10 Short Sale Mistakes
  • VA, HAP and FHA
  • Getting Short Sales Closed

VISIT THE STORE NOW

***Use discount code sss10000 for a $50 instant savings

Read more…

AUCTION.COM

HELP!!!  NationStar as of yesterday on a short sale that is in place in Equator has stated that the borrower, seller, is handing the short sale file over to Auction.com to have the property sold at Auction.  Has anyone experienced this???

Read more…

It’s a sign of the times!

Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled.

But upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll.  Since 2007, 7.9 million homeowners have lost their homes to foreclosure. Current estimates are that one in four homeowners owe more on their mortgages than they could get from the sale of their home. Millions more homes will be lost to foreclosure before this real estate crisis runs its course.

The sad fact is that foreclosure is not an isolated event. For months leading up to the loss of a home, financially strapped homeowners live under a cloud of uncertainty.  And then for many years afterwards, the blow to credit gets in the way of buying another home or buying anything on credit. Foreclosure even complicates employment prospects.

The impact of foreclosure is huge and the sad fact is that it’s often avoidable.

CDPEReflectionLogo

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

Among the most important facts to keep in mind: the sooner help is sought, the better the options.

These are tough times, but more help is available than ever before. If you or someone you care about is ready to navigate away from the dark cloud of an unmanageable mortgage and realize that hope and blue skies are within reach, contact me today and let’s get started.

What are your 10 Options to Avoid Foreclosure?

Top-Short-Sale-Real-Estate-Agent-Realtor-Wisconsin

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I was contacted by a lady that had her house burn down last August.  She stopped making payments in October.  The house is currently being rebuilt.  She tried to get BofA and Fannie Mae to postpone the foreclosure because she wants to short sale the property.  The house should be done the end of March.  The foreclosure date is the middle of August.  I've never run into something like this.  How do you start a short sale without a house??  How do you put a house on the market that isn't finished?  How can B of A do a BPO?  Any ideas or suggestions would be helpful.  I sent the lady all the necessary documentation rqmts and forms necessary for a short sale, but then what???  Can you even initiate a short sale without a contract or a house??

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