7/17/2010 3:18:00 PM
Bank of America Short Sales Improving
At this time last year, Bank of America was on my black list for short
sales. I would still work with short sale clients that had Bank of
America loans, but I had to make an extra effort to mentally and
emotionally prepare sellers for a process that could ...
Views: 614
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7/17/2010 3:10:00 PM
So You Stopped Making Your Mortgage Payments -- Now What?
Have you stopped making your mortgage payments? Are you considering
it? If you’re just considering it and haven’t already stopped, read
the post, Should You Stop Making Your Mortgage Payments? If
you have stopped making your mortgage payments, ...
Views: 683
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4/8/2010 3:16:00 PM
Will HAFA Improve The Short Sale Process?
On April 5th, the government implemented the Home Affordable Foreclosure Alternatives (HAFA) program, designed to standardize and streamline the short sale
process. I'll give a brief overview of the program, along with some
additional comments (and opinions). ...
Views: 1248
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4/8/2010 2:58:00 PM
Should You Stop Making Your Mortgage Payments?
As short
sales are becoming more common, I’m finding that a higher percentage of
people who contact me regarding a short sale are still current on their
mortgage(s). Many of them have just made the last mortgage payment
that they can afford to make, ...
Views: 1139
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2/26/2010 3:17:00 PM
Foreclosure Process and Timelines in Washington State
Washington State is a non-judicial foreclosure state, meaning that
the lender is not required to sue the borrower in default in order
foreclose. Most home loans in Washington State are based on a deed of
trust (mortgage instrument) with a “power of sale” ...
Views: 1425
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2/24/2010 4:40:00 PM
The Pre-Approved Short Sale Fallacy
I’ve received many calls from prospective buyers
interested in my short sale listings asking if the listing price has
been approved by the bank. On a short sale, the seller
owes more than their house is worth, so the seller’s lender(s) must
approve ...
Views: 1654
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2/11/2010 3:35:00 PM
Unlicensed Third-Party Short Sale Negotiators - Washington Department Of Licensing’s Official Stance
Many real estate agents in Washington State use unlicensed third-party negotiators to handle their short sales. I have always discouraged that practice (see my March, 2009 blog post, Is Your Real Estate Agent Breaking The Law? ). The Washington State Department ...
Views: 919
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2/8/2010 2:30:00 PM
Is There Such A Thing As An Unsellable House?
Is there such a thing as an unsellable house? There’s a wealth of information available on preparing and staging a
house to sell, but what about situations where the house can’t be
properly prepared or fixed up to sell? I work a lot with short ...
Views: 529
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2/6/2010 8:49:00 PM
Would You Give A Loan To This Buyer?
Consider this scenario: You paid off your house a
few years ago now you’re selling it for $300,000. You figure that you
would make a better return on your money by offering owner financing
instead of cashing out and investing the money somewhere else. ...
Views: 257
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2/6/2010 8:46:00 PM
How To Fix The Short Sale System
We’ve all seen the horror stories relating to short sales, and some
of us have experienced them. As a short sale specialist, I often times
find myself questioning the logic of banks. The government has
even stepped in on occasion, passing legislation ...
Views: 295
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