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Who Might You Employ To Deal With Your Short Sale?

Published March 9, 2011 in Bank America Short Sales - 0 Comments

Orlando Short Sale Expert

Today I wanted to speak about what you should look for when you are considering hiring somebody to carry out your Orlando short sale. I’m assuming that if you have discovered this blog, you are considering a Orlando short sale and doing some exploration on who to employ.

The first thing that you should note is what percentage of a realtors business is short sales. Most realtors do not want to do short sales and may only do a few short sales per year. It takes lots of skill to be successful completing short sales. That having been stated, all of our business is short sales.

Another thing that many people think about is giving their short sale listing to a friend or relation. Yet, the same rule applies at this point. You have to make sure that whoever is handling your short sale has understanding. The bank is losing lots of cash and it takes a certain amount of expertise to complete a Orlando short sale. You really need somebody that has understanding.

Another thing to beware of is investor groups that might come to you with a hard cash offer. Then they will ask you to sign an option contract and proceed to market and sell your home without having any ownership interest in your Orlando house. It is a very grey area in our trade and it is extremely unproductive. So, if someone comes to you with a hard cash offer, be very guarded. Personally, i would stay away from any agreement like that.

If you would like additional information on Orlando short sales, click on our free short sale package. There is no obligation, but it is a very useful package. It will provide you an inside look at Orlando short sales and how it works.

The Orlando Short Sale Expert can answer your questions. Mark Alan Adams’ Foreclosure Avoidance and Short Sale Specialists.

Get more help from short sale expert, Mark Alan Adams, at Orlando Short Sale Expert presented by the Short Sale Specialists of Orlando

Short Sale & Foreclosure Influence On FICO

Published March 9, 2011 in Bank America Short Sales - 0 Comments

Orlando Short Sale Expert

Good Morning. I’m Mark Alan Adams owner of the Mark Alan Adams Team, Orlando’s leading short sale team. In today’s episode we sought to speak with you on the subject of FICO or credit scores. We take notice of lots of agents chatting about this and we get a lot of questions from Orlando homeowners regarding FICO and Credit scores.

There are a lot of numbers thrown around concerning how a short sale will change your credit score and it irritates me. There is certainly no way that someone, including Fair Isaac himself, can look at you and inform you how a Orlando short sale will affect your credit score.

Every person has a credit score that is determined on an individual case. How many loans do you have? How many credit cards do you own? Have you ever missed a payment? What zip code do you live in? All of these things decide your credit score.

If you are talking with a short sale realtor in the Orlando area and they advise you that your credit score will be impacted by a particular number of points, they do not know what they are speaking about.

It is also significant to note that there is a credit score and a credit record. Your credit record will indicate that you have completed a Orlando short sale by stating that you have a liability that was settled for less than owed. If you complete a foreclosure, it is different. You will not be able to get financing for a different house for the first five to seven years after you foreclose. With a short sale, you can buy a residence in a few years.

In summary, nobody can inform you exactly how much a short sale or foreclosure will change your credit score. However, if you complete a short sale, you will be able to buy a new house in a much shorter amount of time.

The Orlando Short Sale Expert can answer your questions. Mark Alan Adams’ Foreclosure Avoidance and Short Sale Specialists.

Get more help from short sale expert, Mark Alan Adams, at Orlando Short Sale Expert presented by the Short Sale Specialists of Orlando

GreenTree Second Mortgage Needs Lots Of Green

Published March 4, 2011 in Bank America Short Sales - 0 Comments

Short Sale Power Hour

I guess we will chat about one of the more thrilling short sale loans that we have worked on lately. It did not take very long and it wasn’t very hard, but it was exciting how we went about completing the deal.

Here are the fine points. First mortgage servicer, Bank of America. Investor, Bofa. Second lender, Green tree, previously serviced by GMAC. For those of you that haven’t worked a GreenTree file, they are a bit more tricky than your usual lender. With this specific short sale, GreenTree was due nearly $139,000 and Bofa was owed nearly $600,000. The home was worth about $350,00

Here is a pointer. Anytime we see GreenTree in second position we attempt to work as fast as possible. Something with a second mortgage in the $100,000 range is going to be harder.

GreenTree is more insistent than most. They started by declaring that they needed 5% of the buy price. We told them that wouldn’t occur and they submitted it for 10% and came back with an approval for $13,000. We learned that the BPO was at or less than the offer. Nevertheless, when we submitted it to Bofa, they said ‘no’ to the second’s demand but offered $9,000. That is not a bad offer usually, but when you are dealing with Green tree it isn’t good enough.

In the end we were able to get it accepted. Nevertheless, be aware that Green tree is buying lots of Bofa loans. This is a clear illustration of why you have to know the backer on your files. It makes the procedure much easier when you know precisely who you are working with.

Short sale FAQs and more.

Get powered up by Kevin and Fred at Short Sale Power Hour by the Short Sale Specialists of Arizona

What Is A Short Sale And How Do I Meet The Criteria?

Published March 3, 2011 in Bank America Short Sales - 0 Comments

Orlando Short Sale Expert

Hi, I am Mark Alan Adams. I am the owner and founder of the Mark Alan Adams team. We are the premier Orlando short sale team. On today’s episode, I wanted to give you the explanation of a short sale. I still receive lots of questions regarding what a short sale is. A lot of potential clients are familiar with the phrase given the current house market. Nonetheless, the simple definition of a short sale is when a borrower owes more cash on a home than the home is actually worth and the bank accepts less for the sale of the house than what is actually owed on the property. That is a short sale.

The follow up query that we usually get from possible Orlando short sale clientele is “What does it take to qualify for a Orlando short sale?” Lots of people think that they need to call the bank to acquire authorization to carry out a short sale. I am here to inform you that is not the situation. You don’t need to call your lender. If you owe more on your property than what it is currently worth, you qualify for a Orlando short sale and you don’t have to get authorization from the lender.

It helps to have a hardship of some kind. Job loss, tremendous credit debt, separation, or job transfer can help the process. Nevertheless it is not entirely necessary. The fact that you desire to sell your Orlando home and it is not worth what it used to be worth qualifies you for a short sale.

For more information about Orlando short sales and how the Mark Alan Adams group works, there is a link directly to the right of this video on our blog. If you click that link and download our short sale package it gives you a comprehensible vision of what a short sale is and what you can be expecting from carrying out a short sale. It will also give you some insight regarding what you can be expecting from us and all of the paperwork that you may need for your bank. Go ahead and click that link now or give us a call and we will answer all of the questions that you might have.

The Orlando Short Sale Expert can answer your questions. Mark Alan Adams’ Foreclosure Avoidance and Short Sale Specialists.

Get more help from short sale expert, Mark Alan Adams, at Orlando Short Sale Expert presented by the Short Sale Specialists of Orlando

Should I Repair My House For A Short Sale?

Published March 1, 2011 in Bank America Short Sales - 0 Comments

Short Sale Shift

Thank you for joining us today. We wanted to chat about a certain theme that has been an issue with Minneapolis potential customers recently. We want to tackle the state of your Minneapolis property when you are considering a Minneapolis short sale.

We have witnessed lots of Minneapolis short sale houses. Some of these Minneapolis homes have been in awful condition. They appear more like the typical foreclosure. Occasionally they may be rental properties or a remodel that went bad. Occasionally it is simply having a few kids that made a mess. So often, there are things that have caused the house to be in poor shape. It might be the loss of a job or medical troubles. We merely want to make sure that you are not allowing the condition of your home keep you from doing a Minneapolis short sale. You are not alone.

It is very tense when you are behind on payments. Sometimes it is tough to find a cause to fix the property up or even clean it if you are going to be leaving your home. Please understand that purchasers know this.

We have worked with every situation. We have seen it all. Our purpose is to help you out. We’re not here to judge you. Your house might sell for less, but completing a short sale will allow you to move on. You will still get the home sold.

If you were carrying out a regular sale, we would advocate fixing some things because you will get that back from the sale. Nevertheless, with a Minneapolis short sale, you will not be getting anything back.

We simply want to make sure that if your property is not in the best condition, you can still close a short sale. Don’t be hesitant to start the short sale procedure. We understand.

Minnesota Short Sale Shift can answer your questions. We are Minnesota’s Foreclosure Avoidance and Short Sale Specialists.

Get more help from short sale Realtors, Josh and Sarah, at Short Sale Shift presented by the Short Sale Specialists of Minnesota

B Of A Cooperative Short Sale

Published February 27, 2011 in Bank America Short Sales - 0 Comments

Orlando Short Sale Expert

Today we are going to chat about Bank of America Short Sales. I realize that we talked about B of A just a couple weeks ago. Nevertheless, I had the occasion to sit in on a webinar with a short sale official at Bank of America yesterday. She had a few very interesting things to say on the subject of Bank of America and what they are doing to help with Orlando short sales. B of A is getting about 50,000 short sale applications each month.

She also talked about something called cooperative short sales. This cooperative short sale initiative is great for potential clients considering Orlando short sales. Essentially, Bank of America wants to be involved from the start of the progression. Typically, in your Orlando short sale, the bank doesn’t get involved until there is an offer. That can take a long time and when you receive an offer, you still don’t know if the bank will accept the offer. We lose lots of buyers through this process.

Nevertheless, with the cooperative short sale, the lender wants to help price the home. They will be telling short sale agents and potential customers what the offer must be to meet their guidelines.

I really hope this cooperative short sale thing works out. That being stated, if you have a B of A mortgage and you are considering a Orlando short sale, download our short sale package now. This package is a wonderful way to educate yourself about the short sale process in Orlando. We’ll follow up with a phone call to make sure that all of your questions have been answered. There is no obligation when you download this package and it is without charge. It is just our way of helping Orlando potential customers stay knowledgeable regarding the short sale method and their options to elude foreclosure.

The Orlando Short Sale Expert can answer your questions. Mark Alan Adams’ Foreclosure Avoidance and Short Sale Specialists.

Get more help from short sale expert, Mark Alan Adams, at Orlando Short Sale Expert presented by the Short Sale Specialists of Orlando

How Do You Begin The Short Sale Process

Published February 18, 2011 in Bank America Short Sales - 0 Comments

Sold By Short Sale

Now, I would like to share a few ideas regarding how you get started on a Philadelphia / Wilmington, DE short sale. Now to recap, a short sale is when the property holder needs to sell their Philadelphia / Wilmington, DE house for a lesser amount than is currently owed. This can take place for a range of reasons. In spite of of the explanation, the process is very similar. You get a proposal for your house, we give it to the bank and ask them to accept it for less than what is currently owed.

How do you proceed in that procedure? The primary thing you have to accomplish is decide that you need relief. Whether it is caused by loss of income, medical expenses, divorce or any reason, we can assist you. Once you have decided that you would love to begin a short sale, the key is to take action swiftly. If you have fallen behind schedule on your mortgage payments we will have a limited time to present the lender with the proposal so that they do not proceed with foreclosure. As a result, you need to call us quickly so that we can jump in and provide you help.

Once you have chatted with us over the phone or attended one of our free of charge webinars we will present you with a packet that needs to be completed. A few of the things that we will need from you at the point in time of application are two years of tax returns, copies of bank statements, copies of pay stubs, and a hardship letter that describes how you got into the position that you are in.

After we receive all of that information, we send it to your bank. From this point you no longer have to work with your lender. It is our job to correspond with them to get the best outcome possible for you. Ultimately, the lender is going to pay us and take care of us at closing. Regardless of whether your Philadelphia / Wilmington, DE property sells or not, we are working for you for free.

Philadelphia Sold By Short Sale can answer your questions. We are Philadelphia and Wilmington Foreclosure Avoidance and Short Sale Specialists.

Get more help from Philadelphia short sale Realtor, Matt Fetick, at Sold By Short Sale presented by the Premier Short Sale Realtor in Philadelphia and Wilmington

Why Would A Lender Agree To Do A Short Sale?

Published February 17, 2011 in Bank America Short Sales - 0 Comments

Orlando Short Sale Expert

Hi yet again. I’m Mark Alan Adams, owner and founder of the Mark Alan Adams Team. We are Orlando’s leading short sale group. Today we would like to talk to you concerning a question that lots of homeowners have. Why would a lender consent to execute a short sale?

Quite simply, banks are in business to give somebody the use of cash and, in turn, receive payments on that money. lenders are not in industry to possess property and property management. Consequently, a Orlando short sale is a more financially useful decision for the banks than a trustee sale or foreclosure sale.

In a Orlando short sale, a bank will make 10%-40% more capital at the Orlando short sale than they would with a trustee sale. So it just makes more sense for the lender to do a short sale instead of a foreclosure sale.

To discover more about us and more about Orlando short sales there ought to be a link to the right of this capture on our website called short sale package. Click on that link and download that file now. Within that package, find out more details about us. More importantly, you will find out more details about short sales and what to look forward to all through a short sale. You can find out what to anticipate from us in your Orlando short sale if you desire to hire us and what we would expect from you. We hope to chat with you soon. Time is of the essence in this process. Act now to avoid foreclosure.

The Orlando Short Sale Expert can answer your questions. Mark Alan Adams’ Foreclosure Avoidance and Short Sale Specialists.

Get more help from short sale expert, Mark Alan Adams, at Orlando Short Sale Expert presented by the Short Sale Specialists of Orlando

Short Sales, Foreclosures And Your Tax Obligation

Published February 17, 2011 in Bank America Short Sales - 0 Comments

My First Short Sale

Hi! Welcome to Group 46:10’s short sale website. We are Kevin Kauffman and Fred Weaver, Arizona’s premier short sale realtors. There are a lot of excellent pieces of information on this blog to help Arizona property owners stay up to date or get educated concerning short sales in Arizona. We have closed higher than 300 short sales over the past few years at a very high success rate. So, we have lots of good quality information to share with you.

One of the comments that we get from lots of potential customers is regarding taxes. Many people think they should let the house foreclose so they do not have to pay the taxes. That is in reality not accurate. There is so much misinformation in the media, on the internet, or at the workplace.

We want to be clear concerning a few things. When you do a short sale or when you do a foreclosure, you will get a 1099 tax form. With both scenarios you will obtain this form. However, you might not have to pay that tax. There is something called the Mortgage Debt Relief Forgiveness Act of 2007. If your house is a primary residence and your debt forgiven is below two million dollars and the land is less than 2.5 acres you are not going to be liable for those taxes.

We are not tax experts and we don’t claim to be. Go search out that expert opinion from your tax advisor. It is not as scary as it appears. There is no benefit for foreclosure over short sale. As a matter of fact, foreclosure is the worst case situation. Short sale would save you additional funds.

We would love to speak to you more concerning your choices. Please fill out a form on our website regarding your Arizona short sale. We look forward to speaking with you.

Short sale FAQs and more.

Get more information on selling your home from Kevin and Fred at My First Short Sale by the Short Sale Specialists of Arizona

How To Pick Out The Right Short Sale Group

Published February 16, 2011 in Bank America Short Sales - 0 Comments

Orlando Short Sale Expert

Hi. I am Mark Alan Adams, the owner of the Mark Alan Adams short sale team. We are Orlando’s premier short sale team. I wanted to chat with you at present regarding choosing the right short sale agent.

Firstly, I’d like to tell you one thing that you should be aware of. Be conscious of investor parties that get in touch with you with a cash offer. How this works is an investor will come to you, make a cash offer to your lender and get you to sign an option agreement. This agreement gives the investment group the right to market and sell your home without having any ownership interest in your Orlando home. So, they make a small cash proposal to your bank and then market the property to the public trying to sell it at a greater price, making money with the difference between their proposal to the bank and what they sell it for on the open market. They carry out 20-30 of these at a time and plan that a couple of these transactions work out. It is very unsuccessful. If someone approaches you with a deal like that I would be very careful.

Another thing to be aware of is any short sale group that approaches you touting their designations. There are a lot of distressed property designations and short sale designations. They are great, but you ought to be aware of what they are. The designation means that the realtor has gone to a one or two day class to learn about short sales. That is great, but the only real instruction in Orlando short sales is truly working them.

Most real estate specialists only accomplish two or three short sales per year. It is really not adequate to get a good education on short sales. It takes practice to be victorious closing Orlando short sales. With the Mark Alan Adams group, 100% of our company is Orlando locale short sales. Ask us about our credentials and our success rate. The industry average with short sales is 20%-50% and that is dreadful. We have the systems and experience that give us a 90% success rate. Give us a phone call.

The Orlando Short Sale Expert can answer your questions. Mark Alan Adams’ Foreclosure Avoidance and Short Sale Specialists.

Get more help from short sale expert, Mark Alan Adams, at Orlando Short Sale Expert presented by the Short Sale Specialists of Orlando