Quincy MA Homes for Sale

National Modification Corps Second Chance Offer

James Holden — Fri, 19 Mar 2010 06:11:47 +0000

Loan modification is a term very unfamiliar to homeowners but not for very long. What most people are coming to realize is that losing their house to foreclosure is becoming a real possibility. Homeowners are feeling the crunch of higher interest rates and a slowing economy. A loan modification may be the only way for a homeowner to save the biggest investment of their life, their home. Negotiating with the bank for a modification of your home loan can be an overwhelming process. That is why hiring a loan modification company is of extreme importance. National Modification Corp is the company that can rescue you from your high monthly payments.
The reality of today’s market is one of steep drops in real estate values nationwide coupled with tighter credit requirements. The combination of the two make a formidable opponent for someone facing an upcoming adjustment in their payments.. Let’s not forget that unfriendly world traveler called inflation that has decided to sit on our stoop for awhile. This formidable opponent is not one you have to fight by yourself. National Modification Corp. can be in the ring with you. National Modification Corp will fight to save your home. No matter what the reason, the sad truth is that millions of people are in the same boat. People are struggling to make their mortgage payments and live worry free lives. The last thing National Modification Corp wants is to see people lose their house our company is here to help.
The first thought most people have is to refinance. During normal times this would be the correct answer, although it’s always painful to pay the associated fees with doing the refinance. In today’s market this formula doesn’t work, between the drop in real estate value and the tightening of credit you cannot recreate your past deal. National Modification Corp will work to alter the terms of your mortgage to fit a workable solution between you and your lender so it’s a win-win for all involved.
There is no more time to waste, now that you have a viable solution to your mortgage problem call National Modification Corp today. Save your home and don’t let your family be uprooted. Just contact National Modification Corp and save your mortgage and families life today. Make sure you contact National Modification Corp today and get started on restructuring you mortgage today and get financial peace of mind!!!

The 3 Biggest Misconceptions That Real Estate Agents Have About Short Sale Listings

James Holden — Thu, 18 Mar 2010 12:45:17 +0000

First of all, “yes” some short sales take long to sell and “yes” some short sale listings can be frustrating. But let me tell you this; not all are created equal! With a little patience and a little creativity you can overcome some of the shortcomings of listing pre-foreclosure/short sale properties and make a lot of money by helping homeowners get out from underneath the huge burden of debt and stress they are under. Let’s deconstruct three of the biggest short sale myths: Reduced commissions They take too long Too hard to close 1. Reduced Commissions Yes, it’s true when it comes to a short sale; the lender is in the driver’s seat. And since they hate to lose money they tend to reduce the amount of commissions by an average of 1%, meaning that if your area pays out 6%, they will only approve 5%, which will be split by both the agents involved in the transaction. You know what I say to that? Who cares! Be creative! Did you know that there are 7 additional profit centers that can offset your 1% cut in commission? Let’s take a look at what they are: A “Loss Mitigation Fee” via the Lender A “Loss Mitigation Fee” via the Buyer A “Loss Mitigation Fee” via the Attorney or Title Company. A “Loss Mitigation Fee” via the Seller Referral fee from a listing agent (for doing the loss mitigation work on their short sale). Buy it as an investment (buy and hold or buy and flip). Any combination of all of the above!! The “Loss Mitigation Fee” is a fee that we collect only when we successfully negotiate a short sale and have the foreclosing lender pay for all of the closing costs (the realtor commissions, attorney/title company fees, conveyance taxes, etc.). 2. It Takes Too Long The average loss mitigator receives an average of 30 NEW files a day. Not a week, not a month but a DAY! That is part of the reason that short sales can take a while, but it isn’t the main reason. The primary reason is because the majority of real estate agents submit short sale packages that are less than adequate and professional! Meaning; They are incomplete in terms of paperwork (entire documents are missing) They are arranged poorly (Yes, that makes a difference!) They are sent to the wrong person or department (happens very often) They are incomplete in terms of information (i.e. the financial worksheet isn’t completely filled in) Those and many more reasons cause short sales to get hung up. Once again, take what the defense gives you. If loss mitigators are overwhelmed, then the key is to put together a professional and presentable short sale package guaranteed to get your short sale offer reviewed and approved. 3. They Are Too Hard to Close With the right system they are not hard! Let’s take a look at how to overcome the two biggest reasons why short sales blow up right before the closing. Not managing expectations This is a negotiating process. Make sure you clearly communicate the process every step of the way to the buyer and the seller. We use an online short sale management tool called ManageMyShortSale.com to automatically keep everyone connected to the short sale process, which is updated in real time. Many deals blow up because real estate agents fail to communicate to both the homeowner and the buyer the current status of the short sale and what to expect when they negotiate with the foreclosing lender(s). Lack of qualified buyers The key is not to have only one buyer but to have a pool of qualified buyers that are pre-approved. The best buyers to keep an eye out for are those that are already pre-approved and that have funds in place to make an actual purchase. The two easiest ways to do that are: Start networking with every real estate agent that specializes in buyer’s representation. They are easy to find because it is in all of their advertisements. Start working closely with every single mortgage broker or direct lender that you know, or that one of your fellow agents knows. In conclusion, listing pre-foreclosure/short sale properties can take some time to close. However; in this market everyone needs to stick together and help one another out. By building the right network of real estate professionals, we can all ensure that our listings (short sales or not) do not sit out there without a buyer! For more real estate industry news and loss mitigation blogs and videos visit www.RealEstateBusinessMentors.com or visit www.AskBobLachance.com for any short sale bank negotiating questions.

Has anyone dealt with Aurora Loan Services on a short sale purchase?

James Holden — Thu, 18 Mar 2010 11:59:56 +0000

What has been your experience with this bank on closing a short sale from fax to closing? How long did it take?
Thanks
Can people on here that are advertising, READ? I am purchasing a Short Sale home!!!!

The Three Stooges – Pardon My Scotch (part 2)

James Holden — Wed, 17 Mar 2010 09:51:30 +0000

The stooges are running the local drugstore and mix up a potion that a desperate businessman decides to sell as scotch. The stooges impersonate Scotsmen at party to fool the prospective buyer. Their usual antics disrupt the party, ending when a barrel of their “scotch” explodes and floods the whole house. -Moe calls Larry a “porcupine” for the first time in this short. -In this short, Moe bonks Curly’s and Larry’s heads together for the first time. www.midgetfingers.com

Is Bankruptcy Right For You- Orange County Bankruptcy Attorney

James Holden — Mon, 15 Mar 2010 21:59:32 +0000

Attorney Bruce Bridgman talks about if bankruptcy is right for you. The Law Offices of Bruce C. Bridgman handles all bankruptcy matters including Chapter 7 and 13 Bankruptcy, Home Foreclosures, Loan Modifications, Debt Consolidation, Short Sales and more throughout Orange County, California. You can contact Mr. Bridgman at www.thebestlawyersintown.com or by calling 800-763-1579.

The Home Short Sale Process: What The Seller Should Expect

James Holden — Mon, 15 Mar 2010 14:44:43 +0000

This article is written from the perspective of a homeowner that has a need to short sale their home or property. The exact process might differ from state to state, Realtor to Realtor, and bank to bank, as there are no absolutes that have been defined for this process. If you have reviewed all options available, and have determined that a short sale is right for your situation, then this seven-step outline of what a home seller can expect should help give you an idea of the process. Again, this is a general outline:

1) Realtor and Attorney will determine if seller will qualify for a Short Sale based upon the Lenders guidelines.

Is there more owed on the property than it’s present market value?

A comparable Market Analysis (CMA) will be ran to determine the market value of the property

Is the Seller presently behind on payments, or anticipate falling behind on payments in the near future?

Lenders now realize that many factors that contribute to a potential default. Many lenders are eager to head off future problems at the pass.

Is there a hardship?

Examples of hardship are:

Unemployment
Divorce
Medical emergency / sudden illness
Bankruptcy
Death

2) Seller begins preparation of “Hardship” package to include, but not limited to:

Income/Expense Report
Hardship Letter
Copies of Two most recent Paystubs
Copies of Two most recent Bank Statements
Copies of Previous two years of Tax Filings.

3) Realtor lists the property for sale and collects offers.

4) Seller accepts an offer, contingent on Lender and Seller coming to agreement on the terms of the short sale.

5) The seller accepted offer is submitted to the sellers Lender for approval.

Note: A short sale is dependent on a buyer making an offer to purchase. If the seller does not receive an offer, there is nothing for the bank to review, and therefore, the seller will not qualify for a short sale. So even if you meet all the other criteria, it is possible that no one will offer to buy the short sale listing. A successful short sale is also dependent on the lender accepting the buyer’s offer. If the lender rejects the offer, a short sale will not take place. In this case, a new, stronger offer will need to be submitted if the lender allows enough time before foreclosing.

6) If the lender accepts the offer, a “Letter of Acceptance” is issued, the buyer and seller sign the letter, and the escrow period begins.

7) Escrow closes when the buyer delivers the funds, the lender releases the lien and the seller delivers the deed.

Be sure to review all options available you before pursuing a short sale. A loan modification, or Deed in Lieu may be a better option.

Free Loan Modification Help 619-704-8259 Mortgage Solution Advisors

James Holden — Sun, 14 Mar 2010 09:42:18 +0000

Free loan Modification help from Industry professionals . www.mortgagesolutionadvisors.com Please Call us at : 619-704-8259

Tips on Buying or Selling a home in Chandler, AZ

James Holden — Sun, 14 Mar 2010 02:19:04 +0000

If you are thinking about buying or selling a home in Chandler, Arizona, there are several factors you need to consider. The most important factor when thinking about buying or selling Arizona real estate is to find the right realtor. Honesty, quick responses, availability, knowledge of the area and passion are all extremely important qualities. Don’t be afraid to be picky. After all, you want a Chandler realtor that is not only going to work for you but WITH you on this important decision.If you are thinking about buying a home in Chandler, your realtor should be able to provide you with important information such as: what are the schools like? What are the average property values? What is there to do and see? Is there easy access to parks, shopping centers, freeways and medical centers? Is the area family-friendly or more geared toward a hipper, urban generation? Chandler is a prominent suburb of Phoenix and is known as a progressive city with a diverse culture, vibrant history, and top-notch services. The city has become known as the “high tech oasis in the Silicon Desert.” There is definitely something for everyone with an abundance of newer luxury residential homes as well as older ranch style homes from which to choose. Narrow down what you are looking for in a home, and a good realtor should be able to find just what you are looking for.If you want to sell your home, finding a realtor who knows how to negotiate contracts, and market your home effectively is extremely important. An experienced realtor knows how to price your home based on current market conditions and comparables. When selling your home, it is vitally important that you are upfront with your realtor about any defects with your current home so you minimize risk and enjoy a problem free transaction. Listen to your realtor when they tell you to keep the clutter to a minimum and make the buying environment pleasant. Spending a few dollars on paint and landscaping will almost always result in a higher sales price or quicker sale. Remember you are “selling the dream.” If you are willing to work with your realtor to make a memorable impression, you will be able to sell your home quickly, even in a bad economy.If you have been thinking about buying or selling a home in Arizona, you have come to the right place. I specialize in communities such as Andersen Springs, Fulton Ranch, Darcy Ranch, Ocotillo, Riggs Ranch Meadows, Circle G Ranches and Cooper Commons. However, I help people buy and sell homes in Gilbert, Scottsdale, Tempe, Mesa, Apache Junction and Queen Creek as well. If you have any questions regarding Arizona Real Estate, please contact me anytime.

What is a short sale?

James Holden — Fri, 12 Mar 2010 06:22:39 +0000

A short sale is one way that people are still making money in the real estate market. It is hard to imagine anyone making money in real estate right now, but with short sales the opportunity is still there. The definition of a short sale is when there isn’t enough equity in the home to cover the loan payoff. Lenders agree to short sales to avoid a larger potential loss that can come as a result of foreclosure or bankruptcy.
When the home is sold by a short sale, whatever the person who owned the property receives for the sale will go to the bank. The lender is agreeing to take a loss so the seller isn’t allowed to receive proceeds from the sale. Of course the lender will get to choose whether or not they will accept the short sale.
In most cases the real estate short sale will be done so the people who own the home will not lose it to foreclosure, but many times a homeowner can be current but have a valid financial hardship. When a bank does accept a short sale it will be because they deem they will lose less money that way, than following through with a foreclosure or bankruptcy. One thing that has made lenders more likely to agree to a short sale is the losses they have taken during to the crash in the housing market. Many people had loans that were worth much more than the house; it was too hard for them to keep up.
Most lenders have pre-set criteria that a short sale must meet in order to accept the short sale. Depending on whether the mortgage note is owned by a private investor or a large financial institution dictates the size and likelihood of a short sale offer getting accepted.
Make sure if the lender has agreed to the short sale, and agreed to wipe the balance, that you are aware of the negative credit consequences or deficiency judgments that can be issued against you. Lenders can many times try to get you to agree to sign a promissory note to pay back the forgiven debt. A good short sale negotiator can help you negotiate your way out of this.

Tax on Form 1099C of a short sale of a vacant lot in Florida?

James Holden — Thu, 11 Mar 2010 13:34:09 +0000

Can I claim a “capital loss” from the sale in order to offset the income resulting from the Form 1099C?