My job has had a layoff and I have been offerred a new position in another city, I am current on my mortgage so can I do a short sale due to the current market and the value of my home is less than I owe?
Actually according to the rules of qualification for a short sale, relocation does qualify. I have done quite a few of them and there are more strategic due the fact there is no deliquency, however the focus is to have an experienced agent or short sale queen like me take care of the process. However in a non-delinquent short sale there is usually not a rush by the lender to process it quickly and in almost every case the seller will be asked for a contibution toward the loss, however if it is the primary home the difference in the short sale funds and the actual payoff can be totally released.
However, you still have a chance of getting your file approved even when you are current on your mortgage. The banks might approve your short sale file, depending on your specific situation and the hardship.
I can put your Short Sale file together in no time and submitted.I can help you short sale your property and get back on your feet. Send me an e-mail at phillis@txhomerealty.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (214) 650-5536
Discover how other sellers successfully completed a short sale and request a free consultation by emailing me at phillis@txhomerealty.com.
Thinking about a loan modification? I can help at no charge contact me at phillis@txhomerealty.com
Thanks for reading this, Phillis Nealy.
Phillis is a Real Estate Agent at The Texas Group. Dallas Short Sales Realtor:
Phone: (214) 650-5536. phillis@txhomerealty.com.
A Realty company with Service as Big as Texas
View My homes for sale at http://www.txhomerealty.com/.
Phillis Nealy specializes in loan modification assistance and short sales in Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.
Phillis Nealy and The Texas Group are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes knowledge, experience, and hard work to get it done if the requirements are met.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional like a lawyer before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
This information is provided as a courtesy to our viewers to help them make informed decisions.
Give yourself financial freedom by calling the expert in the business. I have a proven track record of success with short sales. I am the short sale queen of Texas with the knowledge, experience, training, and team to keep your home out of foreclosure.
Friday, January 20, 2012
Wednesday, January 18, 2012
Value is The Biggest Threat to Short Sale Approval
The biggest threat to your short sale is a high appraisal. Banks consider short sales for economic reasons.
A bank will approve a short sale only if they think they will net more money taking the short sale offer. To make sure they aren't selling the house for too little, they order an appraisal.
The problem is that most homes are selling for less than appraisal. In one example, a non short sale listing sold for 225k. However, the property could have appraised for 300k.
That means the short sale lender would never have approved it. This is why your agent needs to make sure the appraisal is accurate. There is nothing unethical or illegal about doing this. Let me explain why.
80% of the loans handled by big mortgage companies are actually owned by an investor. These front companies (such as Wells Fargo, Bank of America, SunTrust, or Chase) are acting as a "servicer."
The servicers save money by taking 60-90 days to consider a short sale offer, turning down files over one missing doc, and cutting staff. This is why short sale offers get turned down for no reason.
However, if they can see that the house is valued at 145k and you're selling it for 140k, they'll accept the offer. Again, which is why your agent needs to make sure the appraisal is accurate.
Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at phillis@txhomerealty.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (214) 650-5536
Discover how other sellers successfully completed a short sale and request a free consultation by contacting me email phillis@txhomerealty.com or call me at 214-650-5536.
Thinking about a loan modification? We assist in loan modification free of charge to help you get approved to keep your home.
Thanks for reading this, Phillis Nealy.
Phone: (214) 650-5536. phillis@txhomerealty.com.
A Realty company with Service as Big as Texas
View My homes for sale at ww.txhomerealty.com.
Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.
Most lenders willingly work with agents on short sales. Why?Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender will most likely agree because we are short sale experts.
However, the likelihood of negotiating a modification is like everything else in life. It takes experience, hard, work and persistence to convince your lender to modify your loan.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional like an attorney before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
This information is provided as a courtesy to our viewers to help them make informed decisions.
A bank will approve a short sale only if they think they will net more money taking the short sale offer. To make sure they aren't selling the house for too little, they order an appraisal.
The problem is that most homes are selling for less than appraisal. In one example, a non short sale listing sold for 225k. However, the property could have appraised for 300k.
That means the short sale lender would never have approved it. This is why your agent needs to make sure the appraisal is accurate. There is nothing unethical or illegal about doing this. Let me explain why.
80% of the loans handled by big mortgage companies are actually owned by an investor. These front companies (such as Wells Fargo, Bank of America, SunTrust, or Chase) are acting as a "servicer."
The servicers save money by taking 60-90 days to consider a short sale offer, turning down files over one missing doc, and cutting staff. This is why short sale offers get turned down for no reason.
However, if they can see that the house is valued at 145k and you're selling it for 140k, they'll accept the offer. Again, which is why your agent needs to make sure the appraisal is accurate.
Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at phillis@txhomerealty.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (214) 650-5536
Discover how other sellers successfully completed a short sale and request a free consultation by contacting me email phillis@txhomerealty.com or call me at 214-650-5536.
Thinking about a loan modification? We assist in loan modification free of charge to help you get approved to keep your home.
Thanks for reading this, Phillis Nealy.
Phone: (214) 650-5536. phillis@txhomerealty.com.
A Realty company with Service as Big as Texas
View My homes for sale at ww.txhomerealty.com.
Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.
Most lenders willingly work with agents on short sales. Why?Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender will most likely agree because we are short sale experts.
However, the likelihood of negotiating a modification is like everything else in life. It takes experience, hard, work and persistence to convince your lender to modify your loan.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional like an attorney before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
This information is provided as a courtesy to our viewers to help them make informed decisions.
How Do I Find The Right Realtor that Specializes in Short Sales
Are you looking for a Realtor that specializes in short sales. It is important that you pick the right agent. Many agents turn down short sale listings because they are unfamiliar with the process. These transactions are much more difficult and complicated than your average real estate transaction.
Because of the foreclosure process, you usually only have one chance at a short sale. If your first agent isn't competent, then you risk losing your house to foreclosure. Then you have to wait another 5-7 years to buy your next house. First, ask the agent you are interviewing why they qualify to help you. Do they have any special short sale training or designations? Many agents have taken specialized training and education. They care about being up to date with the current trends in the market.
Next ask them how much experience they have selling short sales. An agent who has closed a few short sales is a lot better prepared than an agent that has not. You want someone experienced working for you.
Who is your lender? Ask the agent if they have closed any short sales with your lender. Every lender handles short sales a little bit differently. If your lender is ABC Lender and the agent has experience with ABC Lender, then they already know the process. Your agent will be prepared because they are familiar with that lenders' process.
After that, ask the agent how they negotiate their short sales? They may do the follow up themselves. Or, they may hire a competent title company or loss mitigation company to do it for them. Either way is fine. Just make sure the person handling your file is suited for the job. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at :phillis@txhomerealty.com I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (214) 650-5536
Discover how other sellers successfully completed a short sale and request a free consultation by contacting me at phillis@txhomerealty.com or call me at 214-650-5536.
However, the likelihood of negotiating a modification is like everything else in life. It takes experience, hard work and persistence to get your lender to modify your loan.
Because of the foreclosure process, you usually only have one chance at a short sale. If your first agent isn't competent, then you risk losing your house to foreclosure. Then you have to wait another 5-7 years to buy your next house. First, ask the agent you are interviewing why they qualify to help you. Do they have any special short sale training or designations? Many agents have taken specialized training and education. They care about being up to date with the current trends in the market.
Next ask them how much experience they have selling short sales. An agent who has closed a few short sales is a lot better prepared than an agent that has not. You want someone experienced working for you.
Who is your lender? Ask the agent if they have closed any short sales with your lender. Every lender handles short sales a little bit differently. If your lender is ABC Lender and the agent has experience with ABC Lender, then they already know the process. Your agent will be prepared because they are familiar with that lenders' process.
After that, ask the agent how they negotiate their short sales? They may do the follow up themselves. Or, they may hire a competent title company or loss mitigation company to do it for them. Either way is fine. Just make sure the person handling your file is suited for the job. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at :phillis@txhomerealty.com I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (214) 650-5536
Discover how other sellers successfully completed a short sale and request a free consultation by contacting me at phillis@txhomerealty.com or call me at 214-650-5536.
Thinking about a loan modification? We can also assist you with what happens in the process and getting your loan modification approved, our services are free of charge.
A Realty company with Service as Big as Texas
View My homes for sale at http://www.txhomerealty.com/
Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender will most likey agree the key to a successful short sale is the right agent like my self, your Dallas Short Sale Queen.
View My homes for sale at http://www.txhomerealty.com/
Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender will most likey agree the key to a successful short sale is the right agent like my self, your Dallas Short Sale Queen.
However, the likelihood of negotiating a modification is like everything else in life. It takes experience, hard work and persistence to get your lender to modify your loan.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional like an attorney before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
This information on How do I find a Dallas Realtor that specializes in short sales? is provided as a courtesy to our viewers to help them make informed decisions.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional like an attorney before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
This information on How do I find a Dallas Realtor that specializes in short sales? is provided as a courtesy to our viewers to help them make informed decisions.
Saturday, January 14, 2012
How Can A Realtor Help Me When I'm Facing Foreclosure!
While most people think of realtors as a person you turn to only when you’re buying or selling a home; many don’t realize that a realtor’s expertise in the housing industry can help you in other ways also. If you are facing possible foreclosure, turning to a realtor for help may be one of the smartest options to choose.
While realtors can’t give legal advice about handling foreclosures, they can show you many options that are available to you as both a home owner facing possible foreclosure and as a possible home buyer if you should have to release your home to the lender.
1.) I know the Dallas, TX area well and I am able to guide you as to how others in your situation in the same area have handled similar circumstances.
2.) I can explain “Short Sales” to you; which could be an option for you depending upon your situation.
3.) I will be able to explain possible options for re-financing, doing a “short sale”, seeing if a loan modification is an option or perhaps even a mortgage forbearance. There may be other possible options available in your area; including any governmental or non-profit organizations that may be able to help.
4.) Working with me a realtor you can trust will not only establish a friend with useful information, but they will be there after the foreclosure when you’re going to need to know where to turn They will have options available for you from rental units to get you through this tough spot, to possibly even purchasing a new home. You may be surprised at the options available. Having someone experienced in the business will be a plus no matter which direction you go once you finish the foreclosure process.
5.) I am a realtor in the Dallas area that truly cares. Yes, we are realtors to make money; it is our job. But we are also human beings and should remember to work with you while making you feel as good as possible with the options you may have. Perhaps this is a dark moment for you and your family but the truth is, if you have a good realtor you should have a good chance at finding a decent home, either as a rental or other possible ways of purchasing it. That’s where an experienced realtor comes in… we know the “other possible ways” out there.
Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail :phillis@txhomerealty.com". I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (214) 650-5536
Discover how other sellers successfully completed a short sale and request a free consultation by contacting me at phillis@txhomerealty.com.
Thinking about a loan modification? We offer free loan modification assistance Thanks for reading this, Phillis Nealy.
Phillis is a Real Estate Agent at The Texas Group. Dallas Short Sales Realtor:
Phone: (214) 650-5536. phillis@txhomerealty.com"
A Realty company with Service as Big as Texas
View My homes for sale at http://www.txhomerealty.com/
Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.
While realtors can’t give legal advice about handling foreclosures, they can show you many options that are available to you as both a home owner facing possible foreclosure and as a possible home buyer if you should have to release your home to the lender.
1.) I know the Dallas, TX area well and I am able to guide you as to how others in your situation in the same area have handled similar circumstances.
2.) I can explain “Short Sales” to you; which could be an option for you depending upon your situation.
3.) I will be able to explain possible options for re-financing, doing a “short sale”, seeing if a loan modification is an option or perhaps even a mortgage forbearance. There may be other possible options available in your area; including any governmental or non-profit organizations that may be able to help.
4.) Working with me a realtor you can trust will not only establish a friend with useful information, but they will be there after the foreclosure when you’re going to need to know where to turn They will have options available for you from rental units to get you through this tough spot, to possibly even purchasing a new home. You may be surprised at the options available. Having someone experienced in the business will be a plus no matter which direction you go once you finish the foreclosure process.
5.) I am a realtor in the Dallas area that truly cares. Yes, we are realtors to make money; it is our job. But we are also human beings and should remember to work with you while making you feel as good as possible with the options you may have. Perhaps this is a dark moment for you and your family but the truth is, if you have a good realtor you should have a good chance at finding a decent home, either as a rental or other possible ways of purchasing it. That’s where an experienced realtor comes in… we know the “other possible ways” out there.
Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail :phillis@txhomerealty.com". I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (214) 650-5536
Discover how other sellers successfully completed a short sale and request a free consultation by contacting me at phillis@txhomerealty.com.
Thinking about a loan modification? We offer free loan modification assistance Thanks for reading this, Phillis Nealy.
Phillis is a Real Estate Agent at The Texas Group. Dallas Short Sales Realtor:
Phone: (214) 650-5536. phillis@txhomerealty.com"
A Realty company with Service as Big as Texas
View My homes for sale at http://www.txhomerealty.com/
Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.
Thursday, January 12, 2012
80% of Homeowners Behind on Their Mortgage do not Qualify for Loan Modification
Hello Everyone, have you been turned down for a loan modification and don't really understand why, the article below gives some great information to assist in understanding why and even some information on the calculations.
Less than 20 percent of homeowners who theoretically qualify for a government mortgage modification are actually eligible, according to data released Monday by the Treasury Department.
Although roughly 4.6 million U.S. homeowners have missed at least two mortgage payments -- making them technically eligible for Making Home Affordable, the federal government's flagship homeowner assistance program -- a whopping 80 percent of those borrowers cannot be helped by the program. According to the Treasury report, just 900,000 homeowners actually qualify for a loan modification under Making Home Affordable.
Dean Baker, an economist and co-director of the Center for Economic and Policy Research, said that fact reflects the program's low goals. "If 900,000 are eligible, and this is your main program for helping underwater borrowers, and we know that not all 900,000 can be helped, this doesn't look very ambitious," he said.
The numbers reinforce just how far short the program, initiated by President Barack Obama with much fanfare in early 2009, has fallen short of its goals and fuel critics' assertions that the program is largely ineffective. "This program, in its design, is set up to help a very small portion of people," said Baker.
(Under Making Home Affordable, homeowners who aren't yet delinquent in mortgage payments but are at risk of imminent default might also qualify for loan modifications. The Treasury data did not include that population.)
Borrowers are locked out of the federal program for a myriad of reasons, including the kind of loan they have and the property at issue. Not covered by the program: rental properties, "manufactured" homes, homes with Federal Housing Administration loans, and homes with Department of Veteran Affairs loans.
Many borrowers can't get help because their monthly mortgage payment is deemed affordable, irrespective of whether it actually is for the borrower. The idea behind the loan modification program is to make the monthly mortgage payment more affordable, defined as a payment that is less than 31 percent of the borrower's total monthly debt payments (think car payments, student loans, credit cards, etc.). One-third of homeowners who would otherwise qualify are ineligible because they already have a mortgage payment that meets this criteria, according to the Treasury report.
Borrowers who have abandoned their property are also ineligible, the assumption being that they are not committed to their home.
"If you look at the large number of vacant properties, I think that speaks to the fact that, in many cases, the borrowers were reached too late in the game," said Baker. "The borrower assumed they'd lose their home so they walked away. You could say those people aren't eligible, but they might have been if we'd reached them earlier."
Listen, if you have been turned down for a loan modification we may be able to help and if you are in need of selling fast to avoid foreclosure we may be able to help, we work with a host of investors throughout the United States and we can get your home on the market as a short sale, our services are free to you guaranteed.
Source: US Treasury department
Less than 20 percent of homeowners who theoretically qualify for a government mortgage modification are actually eligible, according to data released Monday by the Treasury Department.
Although roughly 4.6 million U.S. homeowners have missed at least two mortgage payments -- making them technically eligible for Making Home Affordable, the federal government's flagship homeowner assistance program -- a whopping 80 percent of those borrowers cannot be helped by the program. According to the Treasury report, just 900,000 homeowners actually qualify for a loan modification under Making Home Affordable.
Dean Baker, an economist and co-director of the Center for Economic and Policy Research, said that fact reflects the program's low goals. "If 900,000 are eligible, and this is your main program for helping underwater borrowers, and we know that not all 900,000 can be helped, this doesn't look very ambitious," he said.
The numbers reinforce just how far short the program, initiated by President Barack Obama with much fanfare in early 2009, has fallen short of its goals and fuel critics' assertions that the program is largely ineffective. "This program, in its design, is set up to help a very small portion of people," said Baker.
(Under Making Home Affordable, homeowners who aren't yet delinquent in mortgage payments but are at risk of imminent default might also qualify for loan modifications. The Treasury data did not include that population.)
Borrowers are locked out of the federal program for a myriad of reasons, including the kind of loan they have and the property at issue. Not covered by the program: rental properties, "manufactured" homes, homes with Federal Housing Administration loans, and homes with Department of Veteran Affairs loans.
Many borrowers can't get help because their monthly mortgage payment is deemed affordable, irrespective of whether it actually is for the borrower. The idea behind the loan modification program is to make the monthly mortgage payment more affordable, defined as a payment that is less than 31 percent of the borrower's total monthly debt payments (think car payments, student loans, credit cards, etc.). One-third of homeowners who would otherwise qualify are ineligible because they already have a mortgage payment that meets this criteria, according to the Treasury report.
Borrowers who have abandoned their property are also ineligible, the assumption being that they are not committed to their home.
"If you look at the large number of vacant properties, I think that speaks to the fact that, in many cases, the borrowers were reached too late in the game," said Baker. "The borrower assumed they'd lose their home so they walked away. You could say those people aren't eligible, but they might have been if we'd reached them earlier."
Listen, if you have been turned down for a loan modification we may be able to help and if you are in need of selling fast to avoid foreclosure we may be able to help, we work with a host of investors throughout the United States and we can get your home on the market as a short sale, our services are free to you guaranteed.
Source: US Treasury department
Monday, January 9, 2012
Short Sales are Difficult for Inexperienced agents
Short sales are difficult when you do not know what you are doing. But, they aren’t as difficult as people say.
Here is some essential things to getting a short sale approved.
Here is some essential things to getting a short sale approved.
#1: Follow up. Many agents don’t take short sales seriously. They have heard the horror stories from other agents and therefore don’t think their odds of success are very high. Because of that, they don’t put much effort into the short sale. They’ll submit the short sale file, but won’t spend much time following up on it. If it gets approved, then great. If not, then oh well. A denied or drawn out short sale just confirm their perception that short sales are difficult. “I knew short sales were hard and this just confirms this”, they say to themselves. But, they never gave themselves a chance in the beginning and set themselves up for failure.
The key to getting our short sales approved is follow up. The bank’s negotiator is like a government bureaucrat. They just process the file. So you have to supply them with whatever they request. If you give them what they want, then there is a very good possibility the short sale will be approved.
#2: Luck. Not every single short sale is going automatically approved. The bank won’t approve the short sale if they think it is selling below fair market value after performing their own appraisal, but far from the past when the banks would just deny the short sale they actually now counter offer.
Depending on the type of loan you have and the fair market value of your home the banks have a set percentage of that amount they are looking to get out of the short sale amount, the guidelines for that amount is posted on their websites.
Getting the short sale approved is no longer the biggest issue, now the hurdle is if the bank counters will the buyer walk because if so you have to start all over again.
If you get HAFA approved then you have 120-days to sell the home and close. That program offers some relief from the threat of foreclosure. I can help you short sale your property and get back on your feet. Send me an e-mail at phillis@txhomerealty.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (214) 650-5536 .
Thanks for reading this, Phillis Nealy.
Thanks for reading this, Phillis Nealy.
Phillis is a Real Estate Agent at The Texas Group. Dallas Short Sales Realtor:
Phone: (214) 650-5536.phillis@txhomerealty.com
Realty company with Service as Big as Texas
Wednesday, January 4, 2012
Who Controls A Short Sale?
Many home buyers and sellers think that the short sale lender is in charge during a short sale, that is not true the seller still owns the home and therefore in control.
The lender can only veto short sale offers. They can’t put the property up for sale or decide who to sell it to. Only the home owner can do that. Why is that?
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Until the lender forecloses on the home the home owner is in the driver’s seat. They “own” the property until the lender forecloses.
We have had many buyers get angry that a home owner would not accept their lowball offer. “You have to submit my offer to the lender. If you don’t then that would be fraud”, they tell the home owner.
You, the home owner are in charge. That means that you can make the following decisions.
You are allowed to pick the buyer’s offer that you think the lender will be most likely to accept.
You are allowed to turn down offers that you don’t like for whatever reason. (Maybe the buyers are too picky about the home and want you to make repairs.)
You are allowed to turn down offers if the buyer is not pre-approved for a loan. In addition, you can ask the buyer to inspect the property before they write a contract.
You are allowed to ask for an earnest money deposit to make sure the buyer is serious about the house.
It is your right to do these things for as long as you own the property. Don’t let anyone tell you otherwise.
Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at phillis@txhomerealty.com I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (214) 650-5536
Discover how other sellers successfully completed a short sale and request a free consultation by emailing me at mailto:phillis@txhomerealty.comion? Our loan modification expertise will assist you in getting an approval.
Thanks for reading this, Phillis Nealy.
Phillis is a Real Estate Agent at The Texas Group. Dallas Short Sales Realtor:
Phone: (214) 650-5536. phillis@txhomerealty.com
A Realty company with Service as Big as Texas
View My homes for sale at http://www.txhomerealty.com/
Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.
Phillis Nealy, and The Texas Group, are not affiliated in any way, shape, or form with the government.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Phillis's personal views and do not reflect the views of The Texas Group.
This information on Short Sales: is provided as a courtesy to our viewers to help them make informed decisions.
The lender can only veto short sale offers. They can’t put the property up for sale or decide who to sell it to. Only the home owner can do that. Why is that?
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Until the lender forecloses on the home the home owner is in the driver’s seat. They “own” the property until the lender forecloses.
We have had many buyers get angry that a home owner would not accept their lowball offer. “You have to submit my offer to the lender. If you don’t then that would be fraud”, they tell the home owner.
You, the home owner are in charge. That means that you can make the following decisions.
You are allowed to pick the buyer’s offer that you think the lender will be most likely to accept.
You are allowed to turn down offers that you don’t like for whatever reason. (Maybe the buyers are too picky about the home and want you to make repairs.)
You are allowed to turn down offers if the buyer is not pre-approved for a loan. In addition, you can ask the buyer to inspect the property before they write a contract.
You are allowed to ask for an earnest money deposit to make sure the buyer is serious about the house.
It is your right to do these things for as long as you own the property. Don’t let anyone tell you otherwise.
Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at phillis@txhomerealty.com I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (214) 650-5536
Discover how other sellers successfully completed a short sale and request a free consultation by emailing me at mailto:phillis@txhomerealty.comion? Our loan modification expertise will assist you in getting an approval.
Thanks for reading this, Phillis Nealy.
Phillis is a Real Estate Agent at The Texas Group. Dallas Short Sales Realtor:
Phone: (214) 650-5536. phillis@txhomerealty.com
A Realty company with Service as Big as Texas
View My homes for sale at http://www.txhomerealty.com/
Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.
Phillis Nealy, and The Texas Group, are not affiliated in any way, shape, or form with the government.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Phillis's personal views and do not reflect the views of The Texas Group.
This information on Short Sales: is provided as a courtesy to our viewers to help them make informed decisions.
Short Sales are Smart Moves, Don't Be Embarrassed
Short Sales are a situation that can often cause emotional turmoil as well as financial. It’s amazing how quick people are to judge others but times may be changing when it comes to today’s financial situations. We’re all feeling tough times. We all have seen local businesses close, people we know losing jobs they’ve had for years, and seen how the cost of living increases while the income we’re making doesn’t seem to be keeping the same pace.
Most of us don’t speak “legal-eze” and personally I’m thankful that most of us also don’t operate like some lenders. It’s hard to understand why a lender will jump at doing a Short Sale on a home as opposed to working with someone who’s done everything in their power to make right the situation they’ve ended up in, being overdue with the lender.
Many lenders somehow find it more logical to do a Short Sale than to work with the original owner and re-finance or negotiate terms that make it more reasonable for the owner to make regular payments again. Placing the overdue amounts at the end of your loan and putting you back on track seems more logical to you and I than taking a Short Sale. But then again, when does our logic seem to match the logic of most lenders?
What we have noticed though is that while we are all together in this financial mess of our economy we also seem to be more sympathetic and understanding about the situations of others. Friends and neighbors aren’t so quick to judge those who suddenly have a “Foreclosure” or “Short Sale” sign on their front lawn. People have become more sympathetic to those in their community who have been hit hard by hard times. There is no longer a scarlet letter worn by those who have hit hard times and find themselves having to give up their home via a Short Sale.
There is no shame in Short Sales. In most cases the home owners have approached their lender in every possible way, using every possible means to keep their home. Most lenders turn down every option other than literally snapping your fingers and coming up with all of the money owed instantly, no matter what the situation may be. These lenders should bear all of the shame for creating situations that don’t allow for a good, honest homeowner to maintain their dream.
A Short Sale is an option that is taken to help keep your dignity, sell your home, and have a fresh start. Many take this choice hoping to do less harm to their credit rating. Many times friends and neighbors will not only understand your situation but will respect that you’ve remained dignified through a terrible crisis in your life. Each of us understands that we are almost all only a paycheck away from being on the streets in today’s economy.
As we work together to make things better, one of the things we notice is that there truly is a lot less judging and finger pointing going on in life and a whole lot more understanding and help. The fingers are pointing to the lenders now instead.
We are here to help you understand and get through making the choices you need to make regarding a Short Sale of your home. We have the knowledge and training behind us to make your transition as smooth as possible. Most of all we will treat you with respect and help you not only make the experience understandable, but bearable. We can give you information that will give you hope and show you that the future may have a better picture ahead and even another home some day with our help. There is no shame in taking the option of a Short Sale and we are here to show you.
Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at phillis@txhomerealty.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (214) 650-5536
Discover how other sellers successfully completed a short sale and request a free consultation by emailing me at phillis@txhomerealty.com.
Thinking about a loan modification? Contact me at phillis@txhomerealty.com
Thanks for reading this, Phillis Nealy.
Phillis is a Real Estate Agent at The Texas Group. Dallas Short Sales Realtor:
Phone: (214) 650-5536. phillis@txhomerealty.com.
A Realty company with Service as Big as Texas
View My homes for sale at www.txhomerealty.com
Most of us don’t speak “legal-eze” and personally I’m thankful that most of us also don’t operate like some lenders. It’s hard to understand why a lender will jump at doing a Short Sale on a home as opposed to working with someone who’s done everything in their power to make right the situation they’ve ended up in, being overdue with the lender.
Many lenders somehow find it more logical to do a Short Sale than to work with the original owner and re-finance or negotiate terms that make it more reasonable for the owner to make regular payments again. Placing the overdue amounts at the end of your loan and putting you back on track seems more logical to you and I than taking a Short Sale. But then again, when does our logic seem to match the logic of most lenders?
What we have noticed though is that while we are all together in this financial mess of our economy we also seem to be more sympathetic and understanding about the situations of others. Friends and neighbors aren’t so quick to judge those who suddenly have a “Foreclosure” or “Short Sale” sign on their front lawn. People have become more sympathetic to those in their community who have been hit hard by hard times. There is no longer a scarlet letter worn by those who have hit hard times and find themselves having to give up their home via a Short Sale.
There is no shame in Short Sales. In most cases the home owners have approached their lender in every possible way, using every possible means to keep their home. Most lenders turn down every option other than literally snapping your fingers and coming up with all of the money owed instantly, no matter what the situation may be. These lenders should bear all of the shame for creating situations that don’t allow for a good, honest homeowner to maintain their dream.
A Short Sale is an option that is taken to help keep your dignity, sell your home, and have a fresh start. Many take this choice hoping to do less harm to their credit rating. Many times friends and neighbors will not only understand your situation but will respect that you’ve remained dignified through a terrible crisis in your life. Each of us understands that we are almost all only a paycheck away from being on the streets in today’s economy.
As we work together to make things better, one of the things we notice is that there truly is a lot less judging and finger pointing going on in life and a whole lot more understanding and help. The fingers are pointing to the lenders now instead.
We are here to help you understand and get through making the choices you need to make regarding a Short Sale of your home. We have the knowledge and training behind us to make your transition as smooth as possible. Most of all we will treat you with respect and help you not only make the experience understandable, but bearable. We can give you information that will give you hope and show you that the future may have a better picture ahead and even another home some day with our help. There is no shame in taking the option of a Short Sale and we are here to show you.
Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at phillis@txhomerealty.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (214) 650-5536
Discover how other sellers successfully completed a short sale and request a free consultation by emailing me at phillis@txhomerealty.com.
Thinking about a loan modification? Contact me at phillis@txhomerealty.com
Thanks for reading this, Phillis Nealy.
Phillis is a Real Estate Agent at The Texas Group. Dallas Short Sales Realtor:
Phone: (214) 650-5536. phillis@txhomerealty.com.
A Realty company with Service as Big as Texas
View My homes for sale at www.txhomerealty.com
Are Creditor Liens Killing Your Short Sale
It occured to me that a lot of people think they cannot short sale their home due to liens. Did you know that Texas property code protects your primary home from most creditor liens.
The information here is for information purposes only Phillis Nealy and The Texas Group are not attorney's and are not advising or counseling as such. Please consult an attorney for indepth information. This information was used from ehow.com and was used only to share the information to interested parties, Phillis Nealy and The Texas Group did not and does not claim to have written or authored any of the information above.
The information here is for information purposes only Phillis Nealy and The Texas Group are not attorney's and are not advising or counseling as such. Please consult an attorney for indepth information. This information was used from ehow.com and was used only to share the information to interested parties, Phillis Nealy and The Texas Group did not and does not claim to have written or authored any of the information above.
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