Archive for 'buyers'

Should I save my home and fight the foreclosure?

Saturday, November 5th, 2011 at 11:40 pm  
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Should I save my home and fight the foreclosure?

You may be struggling with this question.  Should I try and save my house?  If you can afford to stay in your house at a comfortable payment, then I can refer you to a non-profit organization that will help you fight the foreclosure.  Your monthly payment will be paid directly to that organization and they will provide you with your own attorney.  There is no guarantee that they will be able to help you keep your house.  Sometimes, sellers will end up doing a short sale anyway.  However, there are several things that they look for regarding your purchase of the house which may work in your favor.  Did your lender do everything right?  Is there any fraud that can be exposed in your defense?  You can go to www.frfvideo.org for more information. Only you can make the decision whether you want to stay in your home.  Please consider some of these things:

  • Can you afford a monthly payment equal to the current value of the house?
  • How long do you think it will take for the economy to turn around and recover to the point where the value of the house returns to the purchase price when you first bought the property?

When can I buy a home again?

I have seen sellers who have purchased a home using conventional financing as early as 2 years after filing bankruptcy and/or conducting a short sale.  The mortgage industry is changing daily and there are many variables to consider.  I have private lenders (individuals) who are willing to finance owner occupants that have 20% down.  Many sellers decide to purchase a home as a lease options and/or just rent until they are able to repair their credit.

What’s the next step for me?

Take Action Now by calling us at 407-888-3433 or call the Sell Fast Realty Agent who provided you with this Special Report.  You can also go online at www.SellFastRealty.com or www.freefactsaboutforeclosure.com/ and fill out the contact information.  Please be sure to fill out the form completely for a quicker response.  We will contact you personally within 24 hours to tell you how our expert short sale team can relieve your stress….. Our #1 Focus is YOU!  I am honored that I can educate you with the true facts about foreclosure.  I am sure you have some more questions after reading this Special Report and we look forward to discussing them with you on a personal and confidential call with you.

Kimberlee Frank
Real Estate Broker & Short Sale Negotiating Expert
407-888-3433
www.shortsalenegotiating.com

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Bankruptcy vs Short Sale or Foreclosure

Saturday, November 5th, 2011 at 11:26 pm  
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Should I file Bankruptcy?

There are different types of bankruptcies.  There is a Chapter 7 that will discharge you from all your debts; qualification will depend on how much is owed and your income.  Then there is a Chapter 13 which is a 3 to 5 year re-payment plan for your debts.

A bankruptcy prior to a short sale does not help you with getting a fresh start because the lender will still have to do the full foreclosure process to get title back to the house.  A bankruptcy will eliminate the debt that is owed. However, many people want a fresh start now and they don’t want to wait until their lender forecloses in order to start cleaning up their credit and moving forward with their life.

Sell Fast Realty has worked with many bankruptcy attorneys that recommend to their clients to sell the house first on a short sale then, if needed, file bankruptcy.  Some sellers are only behind on their house payments and the rest of their bills are current.  I do recommend that you attempt a short sale prior to filing bankruptcy.  We do have referrals for bankruptcy attorneys.

Can I Short Sale the house after a Bankruptcy?

Yes you can!  The most important part of selling your house after a bankruptcy is to make sure you have the right real estate agent and negotiator working on your behalf.  When Sell Fast Realty does a short sale in which the seller had included their house in the bankruptcy, we obtain a full satisfaction of the loan, which means NO deficiency.  Our #1 Focus is YOU!  You will still need to provide financial information even though the lender can’t come after you for the debt.  HOWEVER, if you use the wrong real estate agent that is not familiar with the short sale process and you only receive a lien release, the mortgage note becomes valid again which means you have reaffirmed on that debt and you are now liable.   

What’s the next step for me?

Take Action Now by calling us at 407-888-3433 or call the Sell Fast Realty Agent who provided you with this Special Report.  You can also go online at www.SellFastRealty.com or www.freefactsaboutforeclosure.com/ and fill out the contact information.  Please be sure to fill out the form completely for a quicker response.  We will contact you personally within 24 hours to tell you how our expert short sale team can relieve your stress….. Our #1 Focus is YOU!  I am honored that I can educate you with the true facts about foreclosure an take away the stress of foreclosure.  I am sure you have some more questions after reading this Special Report and we look forward to discussing them with you on a personal and confidential call with you.

Kimberlee Frank
Real Estate Broker & Short Sale Negotiating Expert
407-888-3433
www.shortsalenegotiating.com

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Short Sale versus Foreclosure – Seller sells Kissimmee Florida Home

Monday, October 17th, 2011 at 7:44 pm  
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Short Sale versus Foreclosure.  Seller sells Kissimmee Florida Home after leaving the home vacant with the help of Sell Fast Realty listing and negotiating the short sale.

Ken had been trying to sell his home prior to listing with Evelyn Good at Sell Fast Realty for sometime on his own. He went to www.SellFastRealty.com and clicked on Sell My House Florida.  It was easy for Sell Fast Realty to obtain a buyer on this property within 2 weeks.  However, the house had been vacate for sometime so once we received the short sale approval on the property, the buyer needed to have an inspection.

Our contracts that are signed by the Sellers and Buyers always have the following language to protect our Sellers 1)This offer is subject to the Mortgage Companies taking a discount acceptable to the Sellers and waiving the deficiency judgment and 2)Buyer will be responsible to turn on the utilities for inspection.

The Buyer went to have the water turned on and found out that there was a water usage bill do in the amount of $42.00 which the Seller agreed to pay.  The Buyer had their inspection on the property and found several things wrong with the property.  Since the Buyer was obtaining FHA financing, the Buyer was required to make the repairs pursuant to the verbage that I included on the contract.

After all the repairs where made we were getting ready to go to closing then BAM! – 3 other liens showed up on title.  Two liens were for mowing the grass($550.00) and the other lien was a Target Visa Judgment that was against the Seller in the amount of $4,200.  I contacted the Mortgage Company’s Mitigator(Negotiator) and was informed that the Mortgage Company would not pay for the liens.  I didn’t take no for an answer. (Go www.SellFastRealty.com and click on Using a Realtor to Sell a House Fast Tab)

The Buyer was upset that they spent money on a house and now there were 3 more liens that needed to get cleared up prior to closing.  The Mortgage Broker and the other realtor was willing to contribute money towards the liens to sell the property but I didn’t want them to do that when I knew I could get the the Mortgage Company to pay these liens in order to sell the property.

First, I needed to call the Attorney for the Target Visa Judgment and negotiate a settlement.  The loan had been transferred to another attorney who said “the entire amount needs to be paid off”.  I laughed and said I wish they could but you see, the first mortgage is taking a discount, the second mortgage is taking $3,000 and the first Mortgage Company will not allow you to get paid 100% on this Judgment.  I informed them that this was a HAFA program and the most they could get was 6% which equals $252.00.  The Attorney said “NO”.  I then called Target Visa department and got a hold of their legal department who gave me a supervisor.  The supervisor and I did a conference call to the Senior Attorney handling the collection of the Visa Judgment and he agreed to accept the $252.00.  I told him about the conversation I had with the other attorney in his firm and he said because I knew someone at Target Visa was the only reason that I got this approved.  In other words, because I knew what I am doing I got my short sale approved.

The Seller and the Buyer closed with the Realtors and the Mortgage Broker receiving full payment for services rendered.  We have in-house negotiation which allows our Sellers to relax and let us do all the short sale negotiating for them without having all the worries.

I teach short sale negotiating and I have a 9 CD series available at www.ShortSaleNegotiating.com with examples of how to get your deals done.  I have saved Sellers over 37 Million Dollars and counting.

Below is the Video of the Seller – Ken who was excited to say good-bye to his home before the 2012 Deadline of not having pay taxes on the short fall amount.

www.youtube.com/watch?v=w8S76QJ0zr8

Let’s all work together as a team and help Sellers, Buyers, Realtors and Mortgage Brokers when it comes to selling and buying houses.  We all need to help sellers conduct a short sale versus foreclosure.

Saving Sellers $37 Million and Counting!!!

Kimberlee Frank

www.SellFastRealty.com

www.ShortSaleNegotiating.com

(407) 888-3433

 

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