Caution- Associations can hold hostage a short sale

coldwell banker east county

One of the most recent frustrations I am dealing with in closing short sales here in Bradenton, FL has been created by associations that are unwilling to bend on outstanding HOA and Condo fees. Has anyone else had an association attorney prevent a sale of a home over delinquent fees? Banks that foreclose on homes… Read More

Florida Hardest Hit Fund Information

SHORT_SALE PIC FOR BLOG

Florida HHF Program: Financial Assistance for Unemployed Homeowners   In February 2010, US Treasury (Treasury) created the “Housing Finance Agency (HFA) Innovation Fund for the Hardest-Hit Housing Markets” (HFA Hardest-Hit Fund). The funds were allocated to 18 states and the District of Columbia to assist in foreclosure prevention efforts. A total of $7.6 billion has… Read More

Short Sale Seminar Nov 7, at waterlefe

short sale seminar

If you are considering doing a short sale? Upside down on your mortgage? Considering a Bankruptcy? Behind on Credit Card payments? Would 5-25,000 dollars help out to relocate? Interested to refinance at today’s low rates, but unable to? Upcoming Free seminar this coming Monday November 7, 2011 at the Waterlefe Golf and River Club from… Read More

Is foreclosure the end of the problem? Not always.

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Not many people realize that if you loose a home to Foreclosure the bank has the potential to go after you for a deficiency judgement for up to 20 years! The law allows lenders up to five years to file for a deficiency judgement, and up to 10 years to collect, which can be extended… Read More

August market report showing signs of stability in Bradenton, FL

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Inventory in Manatee County continues to be tight.  We have not had this low a level of homes for sale in the Bradenton area since 2004, with only 3488 homes available throughout Manatee county.   Given the current rate of absorption, we can be considered to be in a flat market, and close to a SELLERS… Read More

New loan modification program from Freddie Mac

There may be hope for those that have tried for a loan modification without success.  Freddie mac has announced that they will have a program for modifying delinquent borrower's mortgages for those that have tried, and failed prior modifications, and also for those that do not qualify for the HAMP program.   I have heard… Read More

Should lenders be forced to do principle reductions for “underwater” home owners?

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I was impressed to see the argument presented for Compelling the lenders in the United States to agree to reduce the principle of underwater homeowners to the actual value of their home.  As an experienced short sale real estate agent, I have seen too many families lose their home, and have a new owner buy… Read More

Shadow Inventory of Foreclosures in the Major markets, a real EYE opener

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We all hear about the “shadow inventory” issues our country is facing, these graphics are really amazing at showing all the upcoming foreclosures throughout the country.  This is a major problem, that will be with us for some time.  What do you think of these maps?         THIS IS A STARTLING SET… Read More

Now You Can Substitute a New Buyer for One Who Walked Without Restart, Awesome news!

SHORT_SALE PIC FOR BLOG

This should really help speed up the process when short sale deals fall apart.  Nothing worse then getting a deal approved, and the buyer cancels the deal. I am glad to see that Bank of America is using some common sense on the realities of short sale process.  Many times I have had a short… Read More

Short Sale Approved in less than 24 hours!

happy home buyers

Submitted the contract and approved in less than 24 hours!   Most everyone who has considered buying a short sale thinks that there is nothing “short” about a short sale.  This is not always the case! Time frames for a short sale offer to be approved typically are measured in months not days.  This was… Read More

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