The document discusses how a short sale is a better alternative to foreclosure when facing financial hardship and losing one's home, as it allows homeowners to exit their property more gracefully. It explains the advantages and disadvantages of a short sale compared to foreclosure, and provides details on the Home Affordable Foreclosure Alternatives (HAFA) program which provides incentives to lenders and homeowners to pursue a short sale over foreclosure. The document also offers guidance on how homeowners can proceed with a short sale by finding an experienced real estate agent and gathering evidence of financial hardship.
The purpose of this presentation is to show, Realtors and Investors, why working with us on your short sale properties is extremely beneficial. We are a preferred investor with the majority of lenders and have direct contacts to expidite the process.
The purpose of this presentation is to show, Realtors and Investors, why working with us on your short sale properties is extremely beneficial. We are a preferred investor with the majority of lenders and have direct contacts to expidite the process.
What is a Short Sale?
Have you already defaulted?
What Options are available?
Do you fear defaulting on your Mortgage?
LEARN your options from professionals in the field of lending, real estate, and foreclosure prevention.
UNDERSTAND tax penalties and other consequences of loan default, loan modification, or bankruptcy, the difference between a short sale and a foreclosure, and much more!
Did you know you may be eligible to receive money back from the bank at the close of your Short Sale?
Do you want to transfer all your hard earned assets to your loved ones? Have you worked whole your life and you want to be secure for the future of your family? For more information visit: http://margarianlaw.com/
The financial industrial arts are not in economics but rhetoric. They have no proof, no science and even actuarial subject products have only shown failure. We continue to demonstrate proof in real markets as the herd turns and mooing increases. Here is a timeless article from our vaults.
5 years later General Growth bankruptcy case still resonatesSamantha Rothman
Samantha J. Rothman and Professors Douglas Baird and Joseph Pagliari Jr. discuss how the General Growth bankruptcy case has impacted SPEs, in theory and in practice.
Valuing Real Estate Assets (Series: Fairness Issues in Real Estate-Based Bank...Financial Poise
As the expression goes, the value of real estate is in the eye of the beholder. Ultimately, the value is whatever the market is willing to pay. While income producing properties, particularly with creditworthy tenants, may be fairly routine to value based on the current rate of return demands in the market, non-income producing properties may be more speculative.
For example, even the most seasoned appraiser may struggle with finding comparative sales for a property. A landowner might see their property value go up exponentially “if only” the city council will allow for a zoning variance. Many an owner believes that their property is in the “path of progress,” but when? Is it reasonable to value a property “as stabilized” if it is only forty percent leased? These are the types of questions we will consider.
To view the accompanying webinar, go to: financialpoise.com/financial-poise-webinars/valuing-real-estate-assets-2021/
What is a Short Sale?
Have you already defaulted?
What Options are available?
Do you fear defaulting on your Mortgage?
LEARN your options from professionals in the field of lending, real estate, and foreclosure prevention.
UNDERSTAND tax penalties and other consequences of loan default, loan modification, or bankruptcy, the difference between a short sale and a foreclosure, and much more!
Did you know you may be eligible to receive money back from the bank at the close of your Short Sale?
Do you want to transfer all your hard earned assets to your loved ones? Have you worked whole your life and you want to be secure for the future of your family? For more information visit: http://margarianlaw.com/
The financial industrial arts are not in economics but rhetoric. They have no proof, no science and even actuarial subject products have only shown failure. We continue to demonstrate proof in real markets as the herd turns and mooing increases. Here is a timeless article from our vaults.
5 years later General Growth bankruptcy case still resonatesSamantha Rothman
Samantha J. Rothman and Professors Douglas Baird and Joseph Pagliari Jr. discuss how the General Growth bankruptcy case has impacted SPEs, in theory and in practice.
Valuing Real Estate Assets (Series: Fairness Issues in Real Estate-Based Bank...Financial Poise
As the expression goes, the value of real estate is in the eye of the beholder. Ultimately, the value is whatever the market is willing to pay. While income producing properties, particularly with creditworthy tenants, may be fairly routine to value based on the current rate of return demands in the market, non-income producing properties may be more speculative.
For example, even the most seasoned appraiser may struggle with finding comparative sales for a property. A landowner might see their property value go up exponentially “if only” the city council will allow for a zoning variance. Many an owner believes that their property is in the “path of progress,” but when? Is it reasonable to value a property “as stabilized” if it is only forty percent leased? These are the types of questions we will consider.
To view the accompanying webinar, go to: financialpoise.com/financial-poise-webinars/valuing-real-estate-assets-2021/
ISSIP View on Service Analytics by Yassi MoghaddamYassi Moghaddam
ISSIP Service Analytics - Empowering Service Innovations Through Smart Analytics
The notion of smart analytics driven service innovations, enabled by the confluence of Big Data, Cloud, Mobile and Social Computing have gained a lot of attention among many enterprises in the past few years, promising ways for companies to effectively and rapidly deliver new services. But one of today's most pervasive and bedeviling challenges concerns what to measure and how to measure it in order to co-create value for customers. In this panel, industry leaders from IBM, Cisco, and ISSIP will discuss their perspectives on service analytics. Attendees will hear and learn how each of these organizations approaches analytics-enabled smarter services. You will also benefit from the latest ISSIP Special Interest Groups’ research and case studies.
In this special series the Russell Shaw Group shares with us their Short Sale Package. This extensive document will give you a great start to building your own package.
This slide hopefully will help homeowners who are distressed with their mortgage can find useful information. Our experienced short sale team can provide valuable information to help homeowners understand their options to avoiding foreclosure.
Reprinted from REALTOR® Magazine(RealtorMag.Realtor.org) with permission of the NATIONAL ASSOCIATION OF REALTORS®.
Copyright 2008. All rights reserved.
Here is a great document about stopping the foreclosure process in Michigan. You can also find more information at www.stopmichiganforeclosure.com it is a website with a lot of valuable information about avoiding foreclosure on your home in Michigan.
This is a voice over of a PowerPoint presentation we did at the seminar we did for distressed homeowners in our Edmond Oklahoma office. We discussed all the options for avoiding foreclosure in the Oklahoma City area with more information that is available at our short sale website, www.avoidforeclosureoklahoma.com.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
1. Foreclosure Alternative: The Short Sale
Article From HouseLogic.com
By: Gwen Moran
Published: July 08, 2010
A short sale is far from hassle-free, but it's a better alternative than
foreclosure. And now you've got a little help from your friends in D.C. Here
are the facts about short sales and how to get started.
Facing foreclosure and tempted to stay in your home until the bank pulls it
out from under you? Bad idea. Don't do it. A much more graceful exit is a
short sale, an agreement between you and your lender to sell your home for
less than you owe. Although there's no guarantee that your lender will let
you avoid foreclosure with a short sale, new government regulations are
aimed at encouraging lenders to do so.
Short sales get government incentives
Although short sales are not hassle-free, at least you've got the government
backing you. The Home Affordable Foreclosure Alternatives
Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL
ASSOCIATION OF REALTORS®
Copyright 2010. All rights reserved.
2. (https://www.hmpadmin.com/portal/programs/foreclosure_alternatives.html)
(HAFA) program provides financial incentives for lenders and borrowers to
avoid foreclosure through short sales or deeds in lieu of foreclosures (http://
www.houselogic.com/articles/foreclosure-alternative-deed-lieu/).
Participation in the HAFA program requires adherence to guidelines--
including a standard process and minimum timeframes--that speed the
process, says Dallas-based REALTOR® Tom Branch, co-author of
Avoiding Foreclosure: The Field Guide to Short Sales. The HAFA program is
for homeowners who can't keep their homes with the help of a loan
modification (http://www.houselogic.com/articles/making-home-affordable-
modification-option/).
Advantages of a short sale
•You can be a homeowner again more quickly with a short sale in your
past than with a foreclosure. New Fannie Mae guidelines help you qualify for
a new mortgage in as little as two years after a short sale, as opposed to
three years or more after a foreclosure.
•You will have more time to make relocation plans and save money
than with a deed in lieu. A short sale may take four to 12 months. A deed in
lieu of foreclosure arrangement typically requires you vacate your home
within 30 to 60 days of signing, according to real estate attorney Lance
Churchill.
•You can receive up to $3,000 from your lender for moving expenses
at the time of closing of a HAFA short sale or a HAFA deed in lieu of
foreclosure. Relocation funds are part of the incentives of HAFA, but not
necessarily for other short sale or deed in lieu programs of the lenders.
•You can help your community's home values. Because the lender
often receives a higher amount of the remaining loan balance than it would
from the sale of a home after a foreclosure, short sales help support home
values in the surrounding community.
3. Disadvantages of a short sale
•Your credit score (http://www.houselogic.com/articles/how-
foreclosure-affects-credit-score/) will take a severe hit. But that would
happen anyway with a foreclosure. Fair Isaac, creator of the FICO score,
says foreclosure and short sales have virtually identical impacts on your
credit score. VantageScore--a company that has created a credit score
model for consumers--says a short sale will lead to only a marginally lighter
hit when compared with foreclosure.
•You may owe additional taxes. In the past, if your outstanding
mortgage was $100,000 and your lender accepted a short-sale purchase
offer of $90,000, you were liable for income tax on the forgiven $10,000,
says Harlan D. Platt, economist and professor of finance at Northeastern
University in Boston. However, the Mortgage Forgiveness Debt Relief Act of
2007, which runs through 2012, generally allows taxpayers to exclude
income from the discharge of debt on their principal residence
(http://www.irs.gov/individuals/article/0,,id=179414,00.html) in some
circumstances. Full relief is available only if the amount of forgiven debt
doesn't exceed the debt that was used to acquire, construct, or rehabilitate a
principal residence. Consult a tax professional and an attorney to minimize
or avoid this liability.
•In some states, your lender may still be able to come after you for the
difference between the short sale price and the amount needed to pay off
the mortgage. Your actual agreement with your lender and state and local
laws and regulations spell out the details. Consult a tax professional and an
attorney to minimize or avoid this liability.
How to proceed with a short sale
•Find a qualified REALTOR® experienced in short sales. Short
sales are tough to navigate, and they're further complicated by your loan
type--FHA vs. Veterans Administration vs. conventional loans. Real estate
agents who specialize in short sales will know the proper steps and order of
the steps involved. They'll also be able to navigate the many parties involved
Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL
ASSOCIATION OF REALTORS®
Copyright 2010. All rights reserved.
4. in the process and over-burdened loss mitigation departments. Look
especially for agents who have Short Sales and Foreclosure Resource
(SFR) Certification, which requires specialized training.
•Gather evidence to support your need for a short sale as opposed to a
foreclosure. You'll need to prove that you have little or no equity in your
home, you're behind on your payments, and you're no longer able to afford
your home. You'll need to write a hardship letter to the lender describing
your circumstances, such as a divorce, job loss, illness, death, or other
event that has impacted your income.
A short sale can be a time-consuming process, but if you can avoid
foreclosure, it's worth it in the long run.
Gwen Moran has been writing about business, finance, and real estate for
more than a decade. Her work has been published by Entrepreneur,
Newsweek.com, Financial Planning, Woman's Day, and The Residential
Specialist. She bucks the cottage trend and lives in a Colonial near the
Jersey Shore.
Chris Kornberg
EXIT Realty Nexus
Office- 763-548-1474
Cell- 763-464-2284
ckornberg@exitrealtynexus.com
www.ckornberghomes.com
