Posts Tagged “year”
Nov
14
2011
 
Are short sales moving quicker now it is the end of the year 2009?Posted by Usual in Short Sales, tags: 2009, moving, quicker, Sales, Short, yearI put an offer on a house for a man who is shipping to war. He accepted immediately. How long is the usual wait from the bank?
Apr
14
2011
When Short Sale Negotiations Take Advantage of an Election YearPosted by Usual in Lender Approved Short Sales, tags: Advantage, Election, Negotiations, Sale, Short, take, yearWhen Short Sale Negotiations Take Advantage of an Election Year Why Submit Articles? 0 && $.browser.msie ) { Register Email Home Page > Finance > Real Estate > When Short Sale Negotiations Take Advantage of an Election Year When Short Sale Negotiations Take Advantage of an Election Year Posted: Dec 20, 2010 |Comments: 0 ]]> For those who have worked with our firm in the past, they understand that hearing the word “no” from a lender is not uncommon, nor is it uncommon for our staff view that “no” as nothing more than a hurdle. Most lenders and servicers have a hierarchy and we will keep moving upwards, until either we hear “yes”, or the most important person we can reach says “no” to us – whether it be a CEO, executive vice president, etc. However, if even the top of the ladder says “no”, then what? Recently, we had a file that took 6 months to close. Well beyond our usual time frame and longer than even the most extreme cases we come across. Without us, it might not have closed at all. Our client, actively serving in the military, was transferred out of state. As those in the military know, roots aren’t often planted while on active duty and transfers are a common part of the job. Still, that hasn’t prevented those serving our country from buying homes, living there for a couple years, then selling. Unlike many, these purchases weren’t made with the hopes of a significant profit in mind, but for some stability for themselves and/or family, in a very unstable profession. When the real estate market crashed, those who were accustomed to buying a new home with each move faced a harsh reality – they could no longer simply sell and either make a small profit or break even. Now, the only way out was paying down the balance, walking away or attempting a short sale. Going into the short sale, our client had impeccable credit and was as fiscally responsible as anyone I’d ever come across. The day she received her transfer order, she listed the home and notified her lender immediately. Within 2 months, we received an offer – just slightly above fair market value – and submitted it. We followed up for weeks, but saw no progress – we couldn’t even get it set up, let alone assigned to a negotiator. At around the 45 day mark, it was finally assigned to be set up, but that became a fruitless process of us submitting and re-submitting paperwork, only to have our auditor lose faxes, misplace docs, etc. We would submit something; follow up for a week between the auditor and the loss mitigation department, only to find out it needed to be re-submitted. Rinse and repeat. By the time all the requested documents were confirmed received, they were now outdated and needed to be refreshed. Ridiculous. At the 75-day mark, we began working our way up their corporate ladder. We emailed their CEO, who had the VP of customer service call us and advise, they’re doing the best they can, and we’d just have to be patient and wait. Our client was paying the mortgage as well as rent on her new apartment in an attempt to limit the damage to her credit and the money she was bleeding-out was drying up… we’d been patient long enough. Being that this was a VA loan, we felt a lender that is allowed to service a loan provided to active members of the military must be far more efficient in dealing with loss mitigation issues that are the result of a military transfer. With the benefit of being in the middle of an election cycle, we contacted the members of Congress currently serving on the Veteran Affairs Committee in both the state she was leaving, as well as the state she was moving too. They responded the same day we contacted them and enthusiastically offered their assistance. After all, if a lender is going to be privileged to service VA loans, they have a responsibility to do so in an efficient manner. If they are unable, it should be suggested that they lose the right to service those loans. Now, I don’t know what actually was said to the CEO of this lender when the offices of these congressmen/woman contacted them, but I do know this – we received an almost immediate response from the lender and all of a sudden, documents were being found and progress was being made. We received our approval about 30 days later and closed on the short sale last week. So for those of you out there tired of hearing “no”, keep looking for new ways to hear “yes”. For those who don’t want to deal with this at all, call us…
Retrieved from “http://www.articlesbase.com/real-estate-articles/when-short-sale-negotiations-take-advantage-of-an-election-year-3885067.html” (ArticlesBase SC #3885067) Start increasing your traffic today just by submitting articles with us, click here to get started. Jeff - I’m a Real Estate agent, currently serving as the Director of Short Sale Legal Services, a division of The Law Offices of Mark M. Bello, Esq. We assist clients with the short sale of their home(s), with our main objectives being: 1) Acceptance of the short sale by our clients lender(s), and; 2) Either a release from any liability for the deficiency, or a significant reduction. ]]> Questions and Answers Ask our experts your Real Estate related questions here… 200 Characters left I was denied a Hamp mod due to NPV caculations. My lender will not explain these terms to me. They said they cannot help me. I need to short sale and get out. Can u please help me Rate this Article vote(s) Feedback Article Tags: Latest Real Estate Articles
Learn how to sell a home in a short sale in this video from experienced realtors and mortgage brokers. (02:54)
short sale timing, buying a short sale, foreclosure timing. (03:58)
Short Sale Secrets Clip 2
Learn what foreclose means and what you can do to get back on track -Learn about Short Sale? (00:42)
Learn how to: Bill and Dwan Twyford discuss the details of the short sale and offer many other options for investors to use when assisting the homeowner in the beginning stages of foreclosure. A.D. Kessler’s Real Estate Roundtable #357 Clip 3 from Creative Real Estate Magazine at www.cremag.com. (01:04) Nowadays retirement with pension intact is a feat because the pension is money accrued throughout your working life and receives regular payments every year in addition to the state pension. This is an anticipated norm, but it is now becoming an exception. Since the year 2007, depression in the world of finances has set in and the value of the pension is now as low as 30 percent, resulting in many home owners facing financial problems, which they feel could have been avoided. By: Finance> The Cumulative Cost of Reduced Consumer Spending But what about the trickle-down effect of these problems? If people are losing jobs, and homes, what becomes of the neighborhood store, restaurant or gas station? What happens when there’s no one left to serve? By: Finance> What Not To Do When Selling Property In Cape Coral The article offers a few details about which are the most common mistakes a Cape Coral property seller must avoid. By: Finance> Bidding For A Property Through Cape Coral Foreclosures The article offers information regarding the bidding process for a property through Cape Coral foreclosures. By: Finance> Buying A Home In Fort Myers, Where To Start The article shares a few instructions regarding how to buy a property in Fort Myers, Florida. By: Finance> Avoid These Five Mistakes When Buying Real Estate In Fort Myers The article talks about the five most common mistakes that many do when deciding to buy a house in Fort Myers, Florida. By: Finance> Letting Agent: Facilitating a Landlord and a Tenant Due to the synergies that exist between the two professions, letting agents often operates under the umbrella of an Estate Agents. However, a lot of agents are exclusively deal with lettings. Letting agents deal mainly with tenancies between private individuals and landlords. By: Finance> The Importance of the Richmond MLS Would you like to buy a home in the Richmond metro area? Numerous conditions By: Finance> As the Home Affordable Mortgage Program comes to an end, what’s next? Clearly the program didn’t assist people as was intended, but that doesn’t mean help isn’t still needed… By: Finance> First-Time Defaulters and Future Lending Practices… As the “great recession” continues to unfold, how will lending practices and requirements change to accommodate the growing number of people who would traditionally be viewed as lending risks? By: Finance> The Obama Administration has decided to phase out Fannie Mae & Freddie Mac, over the next 5-7 years. What role - if any - will the government play in the mortgage business, going forward? By: Finance> Fannie Mae, Freddie Mac & Your Money… Fannie Mae & Freddie Mac are spending taxpayer money recklessly, while punishing the very people supplying them with those funds… By: Finance> The Massachusetts Supreme Court Decision on Foreclosures How will the decision on U.S. Bank v. Ibanez affect those who purchased homes that were foreclosed on illegally and why short sales are the safer option for everyone involved. By: Finance> The difficulties of purchasing a short sale with an LLC By: Finance> Inducing Distressed Homeowners Into Default Many lenders require borrowers to go delinquent on their payments before loss mitigation assistance can be offered, essentially rewarding bad behavior and punishing those trying to do the right thing. By: Finance> Do I Qualify For A Short Sale? While most people do “qualify” for a short sale, rejections do happen and the reasons seem to be inconsistent… By: Finance> Add new Comment Your Name: * Your Email: Comment Body: *
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Author Navigation My Home Jeff has 16 articles online Articles Categories Advertising Accounting ]]> Need Help? Site Links Webmasters Business Info Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License. I’m a Real Estate agent, currently serving as the Director of Short Sale Legal Services, a division of The Law Offices of Mark M. Bello, Esq. We assist clients with the short sale of their home(s), with our main objectives being: 1) Acceptance of the short sale by our clients lender(s), and; 2) Either a release from any liability for the deficiency, or a significant reduction.
Mar
31
2011
Strongco Announces Fourth Quarter and Full Year 2010 ResultsPosted by Usual in Bank approved short sales, tags: 2010, Announces, Fourth, full, Quarter, Results, Strongco, yearStrongco Announces Fourth Quarter and Full Year 2010 Results Read more on Marketwire
Mar
21
2011
Harbin Electric Reports Fourth Quarter and Full Year 2010 ResultsPosted by Usual in Bank approved short sales, tags: 2010, Electric, Fourth, full, Harbin, Quarter, Reports, Results, yearHarbin Electric Reports Fourth Quarter and Full Year 2010 Results Read more on PR Newswire via Yahoo! Finance
Feb
14
2011
First BanCorp Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2010Posted by Usual in Bank approved short sales, tags: 2010, Bancorp, December, Ended, Financial, First, Fourth, Quarter, Reports, Results, yearFirst BanCorp Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2010 Read more on Business Wire
Feb
12
2011
Northeast Indiana Bancorp, Inc. Announces Increased Year End 2010 EarningsPosted by Usual in Bank Owned REO, tags: 2010, Announces, Bancorp, Earnings, Inc., Increased, Indiana, Northeast, yearNortheast Indiana Bancorp, Inc. Announces Increased Year End 2010 Earnings Read more on PR Newswire via Yahoo! Finance
May
28
2010
Buckeyes athletics make money in fiscal yearPosted by Usual in Bank approved short sales, tags: athletics, Buckeyes, fiscal, Money, yearBuckeyes athletics make money in fiscal year Read more on Zanesville Times Recorder
May
19
2010
SMART sales tax revenue falls 13 percent short after year onePosted by Usual in Short Sales, tags: after, falls, percent, revenue, Sales, Short, Smart, yearSMART sales tax revenue falls 13 percent short after year one Read more on Marin Independent Journal
May
01
2010
Is there any limits on the number of short stock sales per year?Posted by Usual in Short Sales, tags: limits, number, Sales, Short, stock, there, yearIs there any limits on the number of short stock sales you can have in a year or any given period? This year I have been doing a number of short sales. I am afraid next year when I will be reporting taxes for the capital gains it would be a problem? Please advice. I want to know if it is problem from legal perspective or from tax perspective.
Apr
17
2010
How many short sales occur every year in the united states?Posted by Usual in Short Sales, tags: every, many, occur, Sales, Short, states, united, yearHow many short sales of properties occur every year in the United States? Historical data would be awesome too. I’m having a hard time finding this information. |
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