Debt Management Blog

What is a Real Estate Short Sale?

A real estate short sale is when the your mortgage bank/servicer’s investor has agreed to take less than what is owed.

A short sale is a foreclosure alternative.

The Short Sale Guide will take you through the steps of a short sale. Great for Realtor & Homeowners…You’ll learn how to prepare for a short sale and what steps to take to apply for a HAFA short sale the government short sale. In the guide, you will find insider tips on how to save time throughout short sale process.

Learn what to expect from the bank.

Few essential advices on debt relief Debt is a serious issue in the face of global recession that not only has an adverse effect on your life but also tramples your financial situation. Your credit report is ruined that creates impediment while applying for another loan. If you are struggling hard to come out from the debt trap then debt management program can help you to get out of it effortlessly. The management program will guide you to regain financial stability. Analyze the options in hand:The amount of your assets and liabilities will be a determining factor for the debt relief program you can avail. If you have piling debts and it seems to go beyond your control then consolidating debts will be excellent option for you. Debt consolidation is merging your multiple debts with a single loan. With the help of a debt consolidation loan you can reduce your monthly payment that will prolong the repayment plan. But if your credit report is not good enough then opt for other debt relief programs. A credit counseling session can be helpful for your current situation. A credit counselor can help you to negotiate with your creditor to lower the principal balance along with the interest on it. Bankruptcy is the last option people resort to in order to discharge their burden of debts. But student’s loan and back taxes cannot be discharged even after filing bankruptcy. Your assets and liabilities will determine if some of your unsecured debts need to be paid back or not. Keep in mind while negotiation:A credit counselor helps to negotiate with your creditors to make the repayment plan affordable to pay off. Do not fall victim to the scam debt settlement companies while looking for a credit counselor. Search for a non profit settlement organization along with a 503(c) (3) certification. Ensure that the company you are enrolling with has a certification of national agency like the National Foundation for Credit Counseling. The company will be considered to be authentic if it is accredited by the Council on Accreditation. Select a certified credit counselor and verify if the company is charging upfront fee. Usually reputable companies arrange credit counseling sessions for their clients to propose a budget and a payment plan. Remember after enrolling with the service of the settlement company:1. Authenticate if your debts are being paid off with the payments you are making.2. Cancel the deal with the companies that charge commission for each monthly payment you make.3. Ask for an agreement document on settlement deal before you send money to creditors.     Bankruptcy:Bankruptcy accompanies with a social stigma that ruins your credit report and remains on it for 10 years. This creates hindrance while applying for another loan even after the discharge of bankruptcy. Guidance of an attorney is essential while you filed a petition at the bankruptcy court. According to the type of debts you owe the lawyer will suggest you some suitable bankruptcy proceedings. There are two types of personal bankruptcy chapter 7 and chapter 13 that people opt for. The former is known as liquidation bankruptcy and under chapter 13 the court appointed trustee designs a repayment plan for the filer. Select your debt relief program according to your financial situation as that will help you to eliminate your pending bills and restore your peace of mind.

Or at least what has happened to the way we treat each other, and our clients. Today I am a bit sad and questioning my profession a bit, even though I know in my heart that I am real good at what I do and will be fine and full of vigor tomorrow.

I am sad for my client who has fallen victim to a selling agent that is being fed foreclosurers by banks who are failing to notice that in my opinion a huge number are selling to her own clients.

Fort Lauderdale Condos 

My client lives next door to this home, he is renting and wanted to buy the home next door. We attempted over and over again to contact the bank that owned the property. For months we got nowhere.

When the agents sign went up in the window we immediately called. For weeks we were unable to find it in the MLS. We were told that the foreclosure had been pulled back by the bank and they were waiting an update. They took my number, but never called me back.

The property appeared on the MLS. My client and I were there on day one, over three weeks ago and wrote the offer, with an escrow check and a preapproval letter. It was downloaded into her online order system, we received confirmation, and that was the last we heard.

We were told they take no phone calls, we also know from experience they do not answer emails, simply go online and check. Well as of this minute it reads “submitted waiting response”, the same thing it has read for three weeks.

This morning I requested another showing via her online system, it confirmed and gave me the lockbox code. My initial plan of the day was to speak to my client about raising the offer far above asking price. The code to enter the property was wrong. Within an hour my client called that he was sitting in his home watching the home next door be inspected, he had just met the buyer.

The property is still active on our MLS, her website shows 180 active listings even though the MLS shows only 40, our offer is still “submitted waiting responce”.

I am not sad about the deal I have lost, I think my buyer will stick with me. I am sad that some Realtors have lost touch with professionalism so much that they can’t even contact an agent back. If she had a higher offer simply, say so. I am suspect on never receiving the “highest and best” request. Fort Lauderdale Real Estate

At this point I have asked the agent to call me by Monday afternoon, at that point I may approach the board of Realtors, I am finding this entire situation embarrassing for all parties concerned.

Any thoughts. …?

Eric Miller

Broker Associate

Keller Williams Realty Professionals

(954) 383-8170

visit us on the web at www.FTLRealEstate.com and www.FortLauderdaleGroup.com

Title Insurance Quote

Selling a Florida Condo – It’s different than Selling a Single Family Home

When you are thinking about selling a condominium one of the first things to think about are some of the differences involved in selling a condominium compared to selling a single family home. Many Realtor will tell you “sign calls” are a valuable source of finding buyers for a property. When it comes to most condominiums this valuable source of buyers disappears. So now it becomes even more important to listen to your Realtor marketing plan for your property and especially their plan for attracting buyers.

Fort Lauderdale Real Estate News

When selling a condominium there are two things that are being sold. The buyer must be sold on the building or condominium association as well as the individual condominium. Make sure you and your realtor have all the association facts ready to go.  A buyer who receives quick and accurate answers to all their questions is a buyer who feels secure about making a decision. An original brochure from the community can be very helpful, newsletters, and recent condominium announcements will also help a buyer feel secure.

Condominium association rules and regulations are an important part of the process. Bringing a buyer with pets to a community that has pet restrictions is not in anyone’s best interest. Knowing the rules and regulations and having them available for your Realtor will help your Realtor promote the condominium to buyers who want rules and regulations consistent with the property you are looking to sell. The more information you provide the easier it will be to make sure that the people viewing your home are the ‘ready, willing and able” buyers for your condominium unit.

Florida Title Company

Deerfield Beach, FL (PRWEB) October 20, 2010

Do you consider yourself frugal? Smart? Sophisticated? All of the above? For many, the answer is “yes.”

So why leave hundreds, if not thousands of dollars on the table when selling, buying or refinancing property in Florida?

“Title companies in Florida are prohibited from discounting a title insurance premium rate set by the state. But they can offer a rebate,” said Assure America Title Company president Anthony Crupi. “Just by asking, consumers can receive from my company title insurance rebates of up to 20 percent.”

A $500,000 home sale in Florida requires payment of title insurance at $2,575. A $1 million dollar home costs $5,075 in title insurance.

“In most counties in Florida, a 20 percent rebate could put $515 back in your pocket if you sold a $500,000 home, or $1,015 on a $1 million home,” Crupi said.

“The buyer pays the title fee in Broward, Miami-Dade and Monroe counties, while the seller pays the fee in Palm Beach County and the rest of the state. Theoretically, a person selling a home in Palm Beach County and buying a new home in Broward or Miami Dade would have to pay title insurance fees twice,” Crupi said.

“There are many closing costs involved in buying and selling property. You pay real estate commissions, attorney fees, and taxes to record the sale and transfer of a property. With the economy sluggish and real estate prices down in many cases, it makes sense to be an educated consumer and seek to cut costs where possible,” Crupi added. “The state allowed title insurance rebate program we offer can be significant.”

Assure America Title Company provides a variety of title services to protect home buyers and lenders against losses because of title defects or liens on property. The company offers services throughout the United States but has a particularly strong presence in Florida. Services offered include:

•     Settlements for Purchase/Refinance
•     Free Short Sale Processing
•     Title and Liens Searches
•     Deed Preparation
•     Escrow Services
•     Closing Services
•     Commercial Title Services
•     1031 Exchange

To learn more about the types of services Assure America Title Company offers, including the Florida Title insurance rebate program, call 1-877-427-9696, or visit the company web site at http://www.assureamericatitleinsurance.com.

‘Short Sale’ Opportunities Could Grow In Wake Of Flawed Foreclosure Paperwork

WEST PALM BEACH, FL (Oct. 14, 2010) – Foreclosure paperwork mishandling by lenders and their legal representatives could provide an opening for individuals attempting to “short sale” their properties, Realtor and real estate mediator Deidre Newton says.

“Attorney Generals and consumer groups are questioning whether lenders have filed, based on overwhelming volume, insufficient or illegal paperwork against property owners who have fallen behind in their mortgage payments,” Newton says. “The challenges in the courts may result in a significant delay of foreclosure cases for several months, if not longer.”

But for those individuals making payments but having a hard time selling their property because their mortgage has become higher than the value of their home, the foreclosure paperwork fiasco could be beneficial, Newton said.

“The foreclosure paperwork mess might create added leverage for ‘underwater’ home owners,” said Newton, founder of the Real Estate Negotiation School, www.renegotiationschool.com.

“Lending institutions might be more willing to negotiate the sale of such properties to move them off their books,’” Newton said. “While short sales are not optimal for lenders, they might see them as a pragmatic way of keeping people from abandoning their homes and creating a greater devaluation of properties and blighting of neighborhoods.”

A frequent contributor to media reports on the real estate scene, Newton is participating in a series of “Florida Housing Help” workshops sponsored by the state Department of Financial Services, http://www.myfloridacfo.com/Consumers/OutReach/FLHousingHelp.asp.

The next workshop is this Saturday, Oct. 16, 10 a.m. to 4 p.m. at the City of Lauderhill City Hall, 5581 W. Oakland Park Blvd.

Newton will also be holding a seminar called “Short Circuit the Short Sales” from 9-11 a.m. next Wednesday, Oct. 20, with members of the Jupiter-Tequesta-Hobe Sound Association of Realtors, 901 W. Indiantown Rd # 18, in Jupiter.

(For additional information, contact Newton directly at (561) 685-0386 or isellwpb@aol.com)

Short Sale Processing

n the Fort Lauderdale Real Estate market when a property comes up for sale priced right, and in great condition it’s a hot commodity.

Eric Miller and Associates is pleased to announce our latest Fort Lauderdale Condominium listing. This new listing is a one bedroom Ft. Lauderdale Condominium for sale on a high at the Symphony Condominium. This condo is currently leased, and the tenant would like to stay.

If you have been thinking about a buying in Fort Lauderdale at today’s incredible prices, but don’t plan on using the property for a while, a property that is already leased out represents a great buying opportunity. 

If this Symphony Condominium is right for you call us today, as photos, and ads are currently in work to bring this property to market, later this week. We do expect this Fort Lauderdale Condo to sell quickly, check out the view from this Symphony Condominium.

The unnoticed benefits of a Short Sale…Recently we helped an Air Force Officer and Homeland Security Guard avoid foreclosure by successfully completing short sales on their behalf. A short sale meant more to them then most may realize, foreclosure didn’t just mean losing their home, it meant losing their security clearance at work. The lesser impact of a short sale and by avoiding a foreclosure judgment, both individuals were able to keep their security status at their jobs. Confirming what we learned at Clearancejobs.com, the #1 reason individuals are denied security clearance is “Financial Considerations”.

After helping and getting to know both of these individuals, we realized the underlying benefits that go along with a short sale. There are many benefits to a short sale vs. a foreclosure and sharing them with potential clients will help you solidify those relationships. Maybe you know a Government worker who is facing foreclosure and doesn’t realize the severity of it. Maybe this experience will help them.

There are many ways we can work together and support you with your clients.

When it comes to short sales, we offer 2 levels of service:

Full Short Sale Processing – From listing to closing we will help gather documents, provide a free preliminary title search, submit file, follow up and obtain a Short Sale approval. NO UPFRONT COSTS…We get paid when you get paid at Closing! No Attorney or Short Sale Processing Fees.

24 Hr. HUD Service – Many realtors like to retain control of their short sale and our 24 Hour HUD service was created to support them. We will provide you with a Free Preliminary search and all the updates you may need to successfully complete the short sale.

If you’re interested in hearing more about how we can help you,

Please Call Me… 1-877-427-9696

Short Sale Package Available Upon Request

Thank You,
Anthony Crupi
Assure America Title Company
“Our Knowledge is your Advantage”

Contributers:
What is a Short Sale
Real Estate Negotiation School

Solar Grounds providing a complete no cost to end user Solar Solution to it’s clients…

Click… Solar Development

If you meet the below criteria, talk to Solar Grounds about having a site developed on your grounds

Solar Site Criteria

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Location:

• MA, MD, NJ, PA, DE, NC, SC, TN,GA, MS, AL, KY, AZ, CA, OR, CO

System Type:

• Ground mount
• Roof mount

*System types vary by State and Utility company requirements

Size:

• Minimum 1 acre for Ground mount
• Minimum 25,000 sq. ft. for Roof mount

Required Information for Site Evaluation:

• The site address and legal owner information
• Site specific information (please provide as much detail as possible)
• For rooftop installations – available square footage, material, condition, obstructions
• For ground installations – parcel size, access, distance from meter, has site been cleared
• 12 month’s most recent electric utility bills
• Name of the utility currently providing power to the site
• General description of site operations

The preliminary project modeling  process takes approximately 2 weeks.

Like the rest of Florida residents, a good portion has been struggling with high mortgage debt on undervalued properties.

It’s important to know “you have options’

1. Get a free credit card debt analysis at Credit Card Debt Reduction they will provide you with a program that can have youout of credit card debt in a little as 9 months

2. If your home is in any stage of foreclsoure you should highly consider a short sale as it is a much better option and wiull help save your credit for futire purchases go to What is a short sale and learn.

3. Are you current on your mortgage but cannot refinance due to your homes value try and short pay refinance, believe it or not there are some loan servicing companies that willtake less than what you know. find out more here: Short Pay Refinance

4. Have to sell and quick got to Sell First Realty at Homes for sale in Boca Raton Florida

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