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If You're Having Problems Dealing With Mortgage Payments There Are Alternatives by Scott Daniels We spent yesterday in Ocala, Florida dealing with several homeowners who are facing foreclosure. Dealing with Foreclosure isn`t the greatest idea. Banks are unforgiving as anyone who has dealt with foreclosure will tell you. Many Homeowners are faced with this dilemma each day. There are hundreds of people seeking alternatives, but many Realtors have no idea what they can do to help. It`s not an easy decision to deal with, it`s a hard situation to be placed in. There are alternatives in dealing with these issues. Homeowner #1:
Homeowner/Investor #2:
He met a Realtor who explained, all the research was taken care of in advance and it was easy as 1,2,3 to pick a lot via the net and watch his investment grow! He took the plunge 12 months ago believing, he could simply "Flip" a property in a few short weeks after closing. The Investment Specialist introduced him to a builder who told them they can purchase a Single Family home roll all the costs into the closing and pay only $3000 out of pocket. They used his equity of $200K from the home that he resides in located in South Florida. He purchased a home in Marion Oaks. The builders advised they`ll structure a C/P loan ( construction to permanent loan) to roll everything into one neat and tidy package. His Realtor thought it was a tremendous idea almost convinced him to obtain two other properties using the same "Sight Unseen" method! Thankfully his spouse talked him out of it. C/P loans are based on the value of the land going up during the construction period, it makes no provisions or guarantees that the land will move higher, the "Investment Specialist" never mentioned what could occur nor did the builder, the Investor did no Due Diligence either, which is a problem. The lot he purchased for $42,000 is worth $25,000 today, the home purchased from the builders for $275,000 is worth $249,000 today. The lender will not honor the original loan amount and this person had to scurry around for an new lender who is requiring the "Investor" bring $22,000 to closing. His Realtor refuses to return his telephone calls, but keeps sending him emails sometimes 3-4 a week on new outlandish investment opportunities. The "Investor" can`t afford the mortgage payments, he understands that we`re going to have to apply for a "Short Sale" after closing. Many Banks realize dealing with "hardships" rather than foreclosures are a better alternative. It costs them less in the long run, which is why their willing to work with these homeowners. If you`re faced with the possibility of losing you`re home, there are experienced professionals who can help. Remember you`re not alone! Scott Daniels Other articles by Scott Daniels Today's Realtors Require A Support Staff Behind Them In Order To Succeed - by Scott Daniels
Yesterday, I had the pleasure of speaking to another agent who reminded me how important it is for a Realtor to have a support staff behind them. We discussed from the "Point of Sale" the required steps for a good For the last 14 years my best friend didn't speak much, he sure as heck barked a lot. He was a Carin Terrier who feared no one! He was a great watch dog and playmate to my three girls I`m the first to tell you the Real Estate market has indeed slowed down from the past. We used to complete 12-22 transaction per month. We had buyers in 3 conference rooms at one time, we were always busy and We have a habit of placing into our offers that either our buyer or seller we represent will select the Title Company to handle our transaction. We`ve been working with the same Title Company for 7 years. It`s been my belief Two weeks ago we executed a contract in which the agent representing the seller told us that we're dealing in a Short Sale. No problem we explained, we already prepared our client on what a Short Sale entails. Only one Newest Articles in Foreclosures Habitat For Humanity Mortgage Foreclosures Are Rare - by Jan Smith
Firstly, what is Habitat for Humanity? Habitat for Humanity is an international, non-profit, non-government, ecumenical Christian organization that's dedicated to building decent, simple and affordable housing for people who may not otherwise be able to afford a home of their Do Not Despair, Halting Foreclosure and Repossession Is Possible - by Sarah Dinkins To halt foreclosure or repossession you need to put into practice one of the following alternative solutions: Refinancing, Full or Partial Cancellation or Settlement These three main possible solutions can halt a foreclosure or repossession process. Foreclosure Real Estate - by Mark Moyo A foreclosure is a legal proceeding in which a bank or lender repossesses a parcel of real estate, and presents. an opportunity for investment in 3 stages. A pre-foreclosure is the period between the mortgage lender's notice of mortgage default and the actual foreclosure auction sale when bargain can be had. If the homeowner is unable to sell the property in this first stage, it goes to foreclosure auction, which present yet another buying opportunity. And if the bank has already tried to sell the property at a foreclosure auction and has not been successful in getting bids, it becomes an REO foreclosure, and presents the final bargain buying opportunity. Foreclosure Prevention - Whoa, Know and G0 - by Butch Grimes Mom always said that honesty is definitely the best policy and nowhere is that more true than when you’re trying to prevent your home from entering foreclosure. We’ve all had bad things happen to us -- divorce, medical bills, unemployment, If Bank Foreclosure Is Not For You Then Read This - by Tom Turner So you’re facing a bank foreclosure and you don not know what to do. Well, there may be some quick solutions to your problem that you have not even considered. Let’s look at a couple ways to stop bank |
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