HER Realtors is a large real estate brokerage founded in Columbus, Ohio that has grown to include over 55 offices and 1,000+ agents across Ohio and Kentucky. The document provides an overview of HER Realtors' services, including one-stop shopping for real estate transactions through partnerships with title and lending representatives. It also includes information on short sales, describing the process homeowners should follow to request a short sale from their lender when facing financial hardship and inability to sell their home for more than what is owed.
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?
what is a short sale, why do lenders consider short sales, the short sale process, short sale documents, financial effects of a short sale, short sale case studies, short sale benefits and what we do
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?
what is a short sale, why do lenders consider short sales, the short sale process, short sale documents, financial effects of a short sale, short sale case studies, short sale benefits and what we do
This presentation discusses aspects of foreclosures, including what to do if your home is currently in foreclosure. It also discusses how to find and purchase foreclosures.
Negotiating American Master Supply Contracts: A Guide for European Exporters Eliot Norman
What are the 10 traps for European companies selling to U.S. OEM and other buyers using American Supply Contracts? indemnification, liquidated damages, consequential damages, force majeure, termination for convenience, ownership of intellectual property
"Advanced International Business Strategies for Entrepreneurs" was presented by Martijn Steger on January 26, 2012, for the Fisher College of Business at The Ohio State University.
Martijn provided attendees with important points that global business professionals should consider to be successful.
HOM INtro #28: Demand Your Note: A Foreclosure Intervention StrategyMildredWilkins
Show me the NOTE
One of the more successful strategies to avert foreclosure has emerged and is being used around the country by both attorneys who are representing clients facing foreclosure and individual consumers who are defending themselves is demanding that the lender/servicer provide the NOTE which demonstrates the party suing for foreclosure has the legal authority to do so.
So simplistic and yet overwhelmingly successful in case after case when it is has been used. Across the country consumers and attorneys (and the courts where foreclosures are processed) are becoming aware that all too often the foreclosing party has NO legal standing—NO right to foreclose.
Securitization has created scenarios where mortgages have been sliced and diced and sold in pieces so frequently NOBODY has clear, RECORDED, unequivocal ownership of your specific mortgage.
Do the research on MERS and the lawsuits and decisions recently on their right to foreclose. Check carefully your paperwork to see if the person who is threatening foreclosure is, in fact, the note holder of record in the recorder office.
In any case, demand the note. A “QUALIFIED WRITTEN REQUEST” is your most effective way to present this demand. Do independent research or get a copy of Webinar Vol. 13 for details on how to proceed.
Adam Leitman Bailey and Andrew Jorges were invited to lecture on Common Ways Deals Die and How Brokers Can Bring Them Back to Life for Town Residential.
How to print out text messages from samsung galaxy勒 泰
There is another option for Samsung users who desire to print SMS messages from Samsung galaxy s2/s3/s4 and Note phone on windows 7/8 and Mac platform.
This presentation discusses aspects of foreclosures, including what to do if your home is currently in foreclosure. It also discusses how to find and purchase foreclosures.
Negotiating American Master Supply Contracts: A Guide for European Exporters Eliot Norman
What are the 10 traps for European companies selling to U.S. OEM and other buyers using American Supply Contracts? indemnification, liquidated damages, consequential damages, force majeure, termination for convenience, ownership of intellectual property
"Advanced International Business Strategies for Entrepreneurs" was presented by Martijn Steger on January 26, 2012, for the Fisher College of Business at The Ohio State University.
Martijn provided attendees with important points that global business professionals should consider to be successful.
HOM INtro #28: Demand Your Note: A Foreclosure Intervention StrategyMildredWilkins
Show me the NOTE
One of the more successful strategies to avert foreclosure has emerged and is being used around the country by both attorneys who are representing clients facing foreclosure and individual consumers who are defending themselves is demanding that the lender/servicer provide the NOTE which demonstrates the party suing for foreclosure has the legal authority to do so.
So simplistic and yet overwhelmingly successful in case after case when it is has been used. Across the country consumers and attorneys (and the courts where foreclosures are processed) are becoming aware that all too often the foreclosing party has NO legal standing—NO right to foreclose.
Securitization has created scenarios where mortgages have been sliced and diced and sold in pieces so frequently NOBODY has clear, RECORDED, unequivocal ownership of your specific mortgage.
Do the research on MERS and the lawsuits and decisions recently on their right to foreclose. Check carefully your paperwork to see if the person who is threatening foreclosure is, in fact, the note holder of record in the recorder office.
In any case, demand the note. A “QUALIFIED WRITTEN REQUEST” is your most effective way to present this demand. Do independent research or get a copy of Webinar Vol. 13 for details on how to proceed.
Adam Leitman Bailey and Andrew Jorges were invited to lecture on Common Ways Deals Die and How Brokers Can Bring Them Back to Life for Town Residential.
How to print out text messages from samsung galaxy勒 泰
There is another option for Samsung users who desire to print SMS messages from Samsung galaxy s2/s3/s4 and Note phone on windows 7/8 and Mac platform.
This game was created as a way for the fourth grade boys in the Research & Digital Literacy class I co-teach with the lower school librarian to review text features. It is intended to be played as a class activity on a SmartBoard. The boys take turns throwing a Koosh ball at the bug matching the text feature defined in the passing cloud. The fonts I used (Beetle and Gadugi) may not appear correctly in slideshare.
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.
Reprinted from REALTOR® Magazine(RealtorMag.Realtor.org) with permission of the NATIONAL ASSOCIATION OF REALTORS®.
Copyright 2008. All rights reserved.
This is a Very Detailed Listing Presentation about the Short Selling Process and Why it is important to proceed with a knowledgeable agent when faced with a mortgage you can no longer afford. If you want to meet with us on a personal level, please contact us at American Way Real Estate 407-701-7416. Mention Facebook and we will give you a $100 gift certificate that you can redeem for cash at closing. Have a blessed day.
Our Steps to Success Buyer Presentation is about educating your buyer clients right from the beginning. As a Realtor®, you are a trained, knowledgeable, experienced professional. You know the market nationally, regionally and locally. With a strong buyer presentation such as ours, you will get the commitment of buyer prospects to work with you. We all know that working with buyers can be like herding cats. Our Buyer Presentation is a tool designed to help designate you as the real estate professional and establish control of your client.
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.
First Time Home Buyer Class Sacramento CaliforniaHomeBoom.com
Learn about first time home buyer programs to purchase real estate. First time home buyer loan programs are our there to help you buy your first home. Down payment assistance and special government programs can help with closing costs. HomeBoom.com is a great place to search for the perfect house.
Serviced Apartment Ho Chi Minh For RentalGVRenting
GVRenting is the leading rental real estate company in Vietnam. We help you to find a serviced apartment for rent in Ho Chi Minh & Saigon. Discover our broad range of rental properties in Vietnam.
For more details https://gvrenting.com/
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
Recent Trends Fueling The Surge in Farmhouse Demand in IndiaFarmland Bazaar
Embarking on the journey to acquire a farmhouse for sale is just the beginning; the real investment lies in crafting an environment that contributes to our mental and physical well-being while satisfying the soul. At Farmlandbazaar.com, India’s leading online marketplace dedicated to farm land, farmhouses, and agricultural lands, we understand the importance of transforming a humble farmland into a warm and inviting sanctuary. Let's explore the fundamental aspects that can elevate your farmhouse into a tranquil haven.
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Rams Garden Bahcelievler - Istanbul - ListingTurkeyListing Turkey
Implemented by Rams Global in Bahcelievler, the Rams Garden Bahcelievler Apartments includes 796 residences of different types from 2+1 to 5+1.
Next to the project, which will have 33 thousand square meters of green area, there will be 42 thousand 300 square meters of woodland. There will also be a 210-meter-long pond in the landscape of the project. There are 94.5 square meters of green space per flat.
Rams Garden Bahcelievler Apartments, which has 8 times more green space than the average of Istanbul with its 33 thousand square meters of green area located within a total of 75 thousand square meters, offers various housing options from 2+1 to 5+1.RAMS Garden has brought a lifeline to the construction industry.
Rams Global, which has signed projects in many places from Dubai to Phuket and delivered more than 20 thousand residences, is now starting new projects in Istanbul.
Rams Garden Bahcelievler is located 9 minutes from Metroport AVM, 5 minutes from Marmara Forum AVM, 12 minutes from Kazlıçeşme beach, 9 minutes from Yıldız Technical University, 7 minutes from Istinye University, 9 minutes from Ramada Hotel and Medicana Hospital.
https://listingturkey.com/property/rams-garden-bahcelievler-apartments/
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
With its spacious living areas, contemporary architecture, and meticulous details, Yeni Eyup Evleri 2 is poised to be the star of your happiest moments. Situated in the new favorite district of Eyupsultan, claim your spot and unlock the doors to a peaceful life alongside your loved ones. Nestled next to the historical and natural beauties of Eyupsultan, embrace the comfort of modern living and rediscover life.
Social Amenities:
Yeni Eyup 2 offers a life filled with joy with its green landscaping areas, gym, sauna, children’s play areas, café, outdoor pool, and basketball court. Reserve your place for unforgettable moments!
Reliable Structure:
With 1+1, 2+1, and 3+1 apartment options, Yeni Eyup Evleri 2 is designed with first-class materials and craftsmanship. The doors to a safe and comfortable life are here! Choose the option that suits you best and step into your dream home.
Project:
Yeni Eyup 2 is conveniently located, with Istanbul Airport just 26 minutes away, the Mecidiyeköy Metro Line 4 minutes away, and the Tram Stop 5 minutes away, making your life easier with its central location.
Location:
Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
Yeni Eyup 2 offers 1+1, 2+1, and 3+1 apartment options designed to meet different needs. Find an option suitable for every lifestyle and open the doors to a comfortable life in your dream home.
https://listingturkey.com/property/yeni-eyup-evleri-2/
Total Environment Tangled Up In The Green - Residential Plots Where Nature an...JagadishKR1
Embark on a journey where lush landscapes and contemporary living converge at Total Environment's Tangled Up In The Green Residential Plots in Devanahalli, Bangalore. Surrounded by verdant expanses, these plots offer an idyllic setting for your dream home. Immerse yourself in the serenity of nature while enjoying the finest amenities and design, where every moment is a harmonious blend of luxury and tranquility.
2. HER Realtors
Cincinnati – Columbus - Dayton
11995566 Founded in Columbus, Ohio by Harley E. Rouda, Sr. (HER)
11996600ss Becomes Central Ohio’s No. 1 brokerage, and remains to this day
22000066 Named the Most Productive Agents In The Nation – REALTOR®
MAGAZINE
22000099--1133 Named Best Real Estate Brokerage by Columbus CEO Magazine
five years in a row
22001122 Realty Services merges into HER Realtors to become the largest
brokerage in the region
3. Equal Housing Opportunity
Everyone benefits from an open
housing market. Restrictions limit
the pool of homes for sale and hinder
those who are hoping to sell.
Federal Law – Right of Every Buyer.
5. “One-Stop” Real Estate Experience
Our title representatives have offices in or near almost every
HER location to provide you with one-stop-shopping. We
can offer a preliminary title search to ensure there are no
surprises that could delay closing.
HER Realtors has joined forces with pmac Lending
Services, one of America’s premier lenders to provide
great rates, superior service and convenience of one-stop-
shopping.
Most buyers request a Home Warranty from the seller.
Homes with warranties tend to sell faster and for more
money. Put our HMS HomeGard Coverage in place
during your listing period.
6. Serving Ohio and Kentucky Clients
Credentials
• Real Estate Agent with 8+ years of experience
• Attorney with 17 years tax, contract, real estate
experience
• Specializing in Target Marketing with Results
• Technologically savvy
• Specialist in Short Sale and Distressed Situations
• Licensed Attorney-Michigan
• Licensed Realtor- Ohio, Kentucky
Paul Sian
Realtor,
Attorney
7. Disclaimer:
Nothing in this presentation is intended to
be legal advice. Legal advice is often fact
and circumstance specific. If you are in
need of specific legal advice please seek
legal counsel.
9. What is a Short Sale?
• A situation where the homeowner needs to
sell the house but may not be able to pay back
all amounts owed on the house from the sale.
– This could be because the price the house will
fetch on the open market is less than what is
owed.
• Used as an alternative to Foreclosure.
– It is cheaper for the bank to have a short sale than
process a foreclosure.
10. What is a Short Sale?
• The remaining amount which the owner is
unable to be pay back is called the
“deficiency” amount.
• Short sale is used as an alternative to
foreclosure as a cost savings measure.
• All lenders who will receive less than what
they are owed in the sale must agree for the
short sale to happen.
11. How do you Short Sell
your house?
• Start by getting an idea of what your home may get
on the open market to make sure you are truly
underwater on the mortgage.
• Prepare a letter explaining why you need the short
sale. (due to unemployment, reduced income, medical emergency, death,
divorce etc.)
• Talk to a Mortgage Counselor to understand all your
options.
– HUD.gov provides list of approved mortgage counselors by state.
12. How do you Short Sell
your house?
• If a short sale is needed then call up your lender and
speak with their Loss Mitigation Department to ask
about short sale options.
• Anyone negotiating (realtor, attorney, accountant)
with the lender on your behalf will need some sort of
seller authorization to represent form. Check with
your lender if they have a specific form.
13. How do you Short Sell
your house?
• Generally the lender is going to require that
the home owner prove financial hardship.
– The lender will look at all your assets and debts
together to demonstrate financial hardship.
– Paying your mortgage on time does not
necessarily disqualify you.
– Your mortgage counselor and/or you lender will
want to see your financial picture through
documentation. (see attached list of suggested documents
needed)
14. How do you Short Sell
your house?
• If you have multiple loans on your home (1st,
2nd mortgage, HELOC) you will need to
coordinate the short sale with all lenders who
will be asked to take less than they are owed.
– If your 1st mortgage will be paid off in full but you
are only asking your 2nd mortgage to take less then
only need permission from the 2nd mortgage
holder for the short sale.
15. How do you Short Sell
your house?
• Do you qualify for Home Affordable
Foreclosures Alternatives Program (HAFA)?
– Government run program to help avoid
foreclosures.
– Can be used for mortgages that are owned or
guaranteed by Freddie Mac, Fannie Mae and 100+
private lenders.
– Certain minimum requirements (see attachment).
– Banks still need to give ok to participate.
16. How do you Short Sell
your house?
• HAFA Benefits include:
– Complete release from mortgage debt after sale.
– Less negative effect on credit score than
traditional short sale.
– HAFA may provide up to $3,000.00 in relocation
assistance.
• Link for more HAFA info toward the end of
presentation.
17. How do you Short Sell
your house?
• Veterans Administration loans (VA)
– Have a short sale program referred to as
“compromised sales”.
– VA will make whole the private lender who lent
money under VA loan after short sale closed.
– VA usually will not pursue the Servicemember for
the deficiency.
• Further VA eligibility is decreased based on the
deficiency so they may not be eligible to do VA
financing unless they pay it back.
18. Short sale was approved by
lender, now what?
• Short sales process is slow until an offer is
approved by the lender.
– Usually the short sale approval letter lasts for only 30-60
days. So you must act fast!
• Short sale buyer can ask for inspection prior to
or after approval of the offer.
– Prior to wastes less time.
– After buyer can walk away in case of major issues with
house. i.e. foundation, water issues…
19. Long term effects of a
short sale
• If your lender reports your debt as “settled” or
“renegotiated” (and they most likely will) your
credit score will go down.
– This will affect your ability to borrow money in the
future and can affect anything else credit related
as well (apartment rental, car loans, utility bills
usually run credit checks).
20. Long term effects of a
short sale
• Make sure you get a release from all lenders
associated with your house.
– No release, you still owe them.
• Forgiven debts can have tax consequences.
– Prior tax relief law has expired.
– Consult with tax attorney or accountant to
determine your tax liability.
21. Be Wary of Scams!
• There are many scam artists out there.
– Review credentials if someone approaches you.
– Don’t take their word for it. Confirm with
government or third party websites.
– Approved mortgage counselors are found on
government websites and are a better source of
information and help.
22. Useful Links
• www.HUD.gov/offices/hsg/sfh/hcc/hcs.cfm
(for a list of HUD approved mortgage
counseling agencies by state)
• For VA loans involving short sales search for
“Compromise Sales” www.benefits.va.gov
• www.makinghomeaffordable.gov has info on
HAFA, list of mortgage servicers who may do
HAFA, and more.
23. My contact info:
Office Phone:513.752.8200
Cell Phone: 513.560.8002
E-mail: Paul.Sian@HERrealtors.com
Facebook: www.facebook.com/paulsian
LinkedIn: Paul Sian
My Web Site: www.herrealtors.com/paulsian
My Blog: www.cincinkyrealestate.com
Editor's Notes
Costs much more in time and money to do a foreclosure versus short sale.
If even one lender does not agree then the short sale is not possible. May see this in situations where one lender is covered by mortgage insurance.
If you are not as underwater on home price as you thought you might be, it may be better to sell and try and pay out of pocket the difference if you can afford it.
Talk to a realtor to get a CMA done. Your bank is still going to do their own research to determine what your home might be worth, but you need to have an idea as well. Many realtors will provide you a CMA at no cost.
Setting up a short sale with more than one lender involved becomes trickier since banks want their full amount owed. It is advisable to speak to a mortgage advisor to get advice with regards to all scenarios. HUD.gov provides a list of HUD approved mortgage counselors.
You have a documented financial hardship.
You have not purchased a new house within the last 12 months.
Your first mortgage is less than $729,750.
You obtained your mortgage on or before January 1, 2009.
You must not have been convicted within the last 10 years of felony larceny, theft, fraud, forgery, money laundering or tax evasion in connection with a mortgage or real estate transaction.
Anyone asking for a post offer acceptance inspection is wasting time since usually there will be no negotiations after the bank has accepted. The bank accepted the price as is and will usually not negotiate on anything after that.
Makes sense to have an inspection before acceptance so buyer can know what they may be buying.
Short sale can be treated similar as a foreclosure for credit purposes. The time you have to wait before getting another mortgage after a short sale depends on many factors like where the loan was from, was it an FHA loan, your current credit score and debts etc. etc.
With time and keeping up with your other bills your credit score will recover.
If part of your mortgage debt was release and you are no longer required to pay it back, the tax regulations require you pay tax on that amount. There may be certain exceptions to that so it is advisable to talk with a tax accountant or attorney to make sure you don’t get penalized by the tax authorities. The lender will give you a 1099-C to show the amount of debt that has been forgiven and will also give that 1099-C to the IRS.
If you did not secure a written and signed release from all lenders associated with the property you sold they can come after you for the amount you still owe on the house. They can also send you to collections further ruining your credit. Make sure you get a release as part of the short sale.
Costs much more in time and money to do a foreclosure versus short sale.
Setting up a short sale with more than one creditor involved becomes trickier since banks want their full amount owed. It is advisable to speak to a mortgage advisor to get advice with regards to all scenarios. HUD.gov provides a list of HUD approved mortgage counselors.