Some good news on Short Sales today!
The Federal Housing Finance Agency on Tuesday announced measures to make "short sales" of underwater homes easier for homeowners, including extending help to people who have financial difficulties but haven't missed mortgage payments.
Read more: http://online.wsj.com/article/SB10000872396390444443504577603552056318314.html
Showing posts with label short sales. Show all posts
Showing posts with label short sales. Show all posts
Tuesday, August 21, 2012
Wednesday, February 8, 2012
Big Banks Paying Big Bucks For Short Sales…$35,000+ At Closing!
Very interesting article about Short Sales. If you are under water in your house, you may want to consider a short sale.
http://realestateinsidernews.com/breaking-real-estate-news/lenders-paying-owners-to-short-sale-bank-payouts-for-short-sales-increasing/
www.yourhomeinstpete.com
http://realestateinsidernews.com/breaking-real-estate-news/lenders-paying-owners-to-short-sale-bank-payouts-for-short-sales-increasing/
www.yourhomeinstpete.com
Monday, October 10, 2011
Bank of America giving incentive to suffering homeowners
Bank of America, the nation’s largest mortgage servicer, is offering Florida homeowners up to $20,000 to short sale their homes rather than letting them linger in foreclosure.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=265774
http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=265774
Tuesday, May 25, 2010
Learning an important lesson on Short Sales!
After a 4 month wait for a short sale to be approved by Bank of America, my buyer got the okay on his offer. The listing agent had not made me aware that the buyer had moved out until after we set the appointment for the inspection. So when we arrived at the inspection, there was no power and no water. When we called the city and power company we were told there were outstanding balances that needed paying before we could turn it back on.
Now, who is going to pay for this? Fortunately, my buyer felt it was such a good deal, he was willing to pay it, but not until I tried to get the seller to somehow pay for it. Eventually after a week, it has all been straightened out and we are ready to go back and do the inspection. But now I learned a valuable lesson.
As a buyer's agent, to make sure to check with the listing agent about the status of the seller's living arrangement and whether the bills have been paid ahead of time and to make the buyer aware ahead of time so they are prepared for what may come up.
As a listing agent, to have the seller remain living in the home and paying their bills, if at all possible. If not, to make the buyer's agent aware of the situation.
Communication is always a key element of Real Estate!
Now, who is going to pay for this? Fortunately, my buyer felt it was such a good deal, he was willing to pay it, but not until I tried to get the seller to somehow pay for it. Eventually after a week, it has all been straightened out and we are ready to go back and do the inspection. But now I learned a valuable lesson.
As a buyer's agent, to make sure to check with the listing agent about the status of the seller's living arrangement and whether the bills have been paid ahead of time and to make the buyer aware ahead of time so they are prepared for what may come up.
As a listing agent, to have the seller remain living in the home and paying their bills, if at all possible. If not, to make the buyer's agent aware of the situation.
Communication is always a key element of Real Estate!
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