Realtor/Coach/Trainer
This is a synopsis of what I am going through on a short sale. The bank has switched our contact person three times. This last one is because my short sale negotiator had a number up the food chain and got him removed from our file. He had not responded for a week and when […]
The banks take their own sweat time because it isn’t a CEO making a decision. It is someone at the bottom of the chain and everyone above them is giving them policies and procedures to follow. And you can’t really strong arm them either though I do have someone who has phone numbers at some […]
Loan modifications are tough, be prepared in case you can’t qualify.
Eighty percent of success is showing up. -Woody Allen. I got a call yesterday on one of my short sale listings. The potential buyer wanted to know if there were any other offers because if there was, she didn’t want to compete. Too much trouble. Most anyone who knows a little about short sales knows that […]
Banks Likely to Ramp Up Foreclosures More borrowers are expected to lose their homes to foreclosure as the nation’s largest mortgage companies lift their internal moratoriums on home repossessions and start to determine which troubled borrowers cannot be helped. The mortgage companies say the Obama administration’s housing plan has given them a better idea of […]
After opening up the search page you can toggle to search for short sales and foreclosure homes. It uses keywords and an algorithm to pick them out of the RMLS. Another fun search that should yield a list of motivated sellers is this one. You can search by days listed and, this one surprises me, […]
A homeowner came to me 5 weeks before the foreclosure date of the home. Not much time but possible. I started, at what I thought was a low price, but no offers. I kept dropping the price and we were lucky to get a lowball offer. In short sales, any offer is desired as it […]
I have come upon this question a lot from people facing a short sale. Though I have seen it take longer, usually the bank will set a foreclosure date within 90 days after your first missed payment. They usually have the right to do that after 30 days but it is industry standard to wait […]
I finally closed one of my listings that was a short sale. It took 2 and half months to get approval. There were two banks involved. One, the first position, had 80% of the loan and the other, second position, had 20%. The second ended up receiving only $1000. They made it difficult to get […]
It all started with me getting slammed by some weird illness last Friday. I had a sore throat all week but the rest of it rolled in Friday afternoon and put me down for the weekend. Monday was unburying myself and finishing up other tasks that were put to the side. This week I had: […]
So you are behind in your payments. Banks are calling; telling you some odd scenarios- basically trying to scare you. Foreclosures and short sales are the number one thing people ask me about. So here are 9 options when facing foreclosure. 1. Do Nothing – If a homeowner does nothing, they will most likely loose […]
This is what I overheard yesterday. Two gentlemen were talking and one asked what the other did. “A little commercial real estate, some foreclosure stuff, you know.” The other guy said, “I am waiting for the prices to come down further before I get back to buying foreclosures.” They walked away and I missed out […]
