What is a Short sale?

November 7, 2010 By Leave a Comment

You’d be hiding under a rock if you haven’t heard a ton about short sales in the news and everywhere else you look. From the radio ads, bus stop benches, and warnings about scam artists taking advantage of people there is A LOT of misinformation out there. I figured I’d put this short article together to help people understand exactly what a short sale is and some of the very basic information about them. This basically “Short Sales 101″ information that some of you may already know, but others may need to know…

The term “short sale” in the Real Estate world basically means selling a home for less than the balance of the loan that a bank or lender is owed. There is nothing mystic about what a short sale is. Just owing more on a home than you are able to sell it for on the open market, and needing the bank’s approval for them to take a loss for the difference.  Read more...

Filed Under: Common Real Estate FAQs, Featured Posts Top, Seller Resources, Short Sales, Slider Tagged With: , , , , , , , , , , , , , ,

Loan Modification/ Short Sale info for Top Lenders

July 14, 2010 By

Here’s a list of Top Lender’s websites where their Loan Modification and/or short sale information and forms can be filled in or downloaded. If you don’t see your lender here email or call me and I’ll be glad to help you find what you need. Please also keep in mind that some lenders don’t have company specific forms and generic forms can be used. Contact me and I could also supply those if you need…

Wells Fargo- Payment Help, Phone   (800) 678-7986

Wachovia- Loan Assistance, Phone (866) 975-1814 or (866) 642-9405

Bank of America/Countrywide – Home owner Assistance, Phone (866) 880-1232

Chase/WAMU-  Mortgage Help, Phone (866) 550-7505

Citi Mortgage- Home Help, Phone (866) 520-5499

Suntrust Mortgage- Home owner Help, (800) 443-1032  Read more...

Filed Under: Seller Resources, Short Sales Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , ,

FHA Loan Guidelines

March 17, 2010 By Leave a Comment

If you have talked to anyone about getting a mortgage recently you’ve probably heard about FHA loans or “Government Backed” or “Government insured loans”. A common misconception is that these loans are only for very low income people who can’t get a traditional loan from a bank, or first time home buyers, but this is not the case….

Uncle Sam wants You… to qualify!

There are very broad criteria for FHA insured loans that just about many people can qualify for. This doesn’t mean everyone does though. For example, FHA loans have more liberal credit guidelines, unlike many other loan products, but there are still criteria that need to be met.
The Background of FHA Loans…  Read more...

Filed Under: 1st Time Buyers, Buyer Resources, Common Real Estate FAQs, FHA Loans Tagged With: , , , , , , , , , , , , , , , , , , , , , , , ,

Privacy Policy

March 17, 2010 By

Our Commitment To Privacy

  • Your privacy is important to us. To better protect your privacy we provide this notice explaining our online information practices and the choices you can make about the way your information is collected and used. To make this notice easy to find, we make it available on our homepage and at every point where personally identifiable information may be requested.

The Information We May Collect:

This notice applies to all information collected or submitted on this website. On some pages, you can order products, make requests, and register to receive materials. The types of personal information collected at these pages are:

Name
Address
Email address
Phone number

The Way We Use Information:  Read more...

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Buying Short sales vs. Bank Owned Properties (REOs)

March 12, 2010 By Leave a Comment


With the majority of sales being Short Sales and Foreclosures in our current market I thought I’d explain a little about each one and some of the pros and cons.

There are upsides and downsides to each, for example:

Buying a Foreclosed home- (Bank owned, REO, etc)

When you are buying a foreclosure there are usually bank required addenda/contracts that will be utilized when buying which sometimes scare would be home buyers. They are not to be feared if you understand what is required of you, and the terms they contain, but if you are fearful it’s always good to have your attorney review them BEFORE you sign.  Read more...

Filed Under: 1st Time Buyers, Buyer Resources, Common Real Estate FAQs, Foreclosures, Investor Resources, Short Sales Tagged With: , , , , , , , , , , , , , , , , , ,

Are Foreclosures Really Good Investments?

March 12, 2010 By Leave a Comment

The answer is…it depends…

First, you need to identify what makes a deal good to you? Good price? Good Condition? Good Terms? Some combination of the three? Knowing what makes sense for your goals and finances is the key knowing if the property you’re looking at is a deal.

First things First…..

When thinking about buying a foreclosure, or any home for that matter, make sure you know what your goals are for the property BEFORE you make the offer!!!

Just remember, “if you fail to plan you plan to fail”, at least most of the time anyway. When it comes to my clients, I let them know upfront that if they like a property that needs $30K in rehab costs, and a lot of out of pocket expenses, but they don’t have much money to put into the deal readily available, that they need to be careful.  Read more...

Filed Under: 1st Time Buyers, Buyer Resources, Common Real Estate FAQs, Foreclosures, Investor Resources Tagged With: , , , , , , , , , , , , , , , , ,

Why all the Foreclosures- What’s the Deal?

March 12, 2010 By Leave a Comment

No one with a pulse could miss the all news about the “Foreclosure Crisis” we are facing as a nation, and particularly here in S. Florida.  I’m sure the gurus of late night tv who teach you “how to make millions in foreclosures”, or whatever the spin, will be really raking in the cash thanks to all the publicity.

One question I seem to get every now and then is the reason behind so many people are facing foreclosure right now. Who’s to blame? Is it the government? The banks? Those mean ‘ol real estate investors?I thought I’d take a minute to quickly address what I’m seeing in my daily life as a Realtor here in Broward County FL.

—  Read more...

Filed Under: Common Real Estate FAQs, Foreclosures, Seller Resources, Short Sales Tagged With: , , , , , , , , , , , , , ,

Alternatives to Foreclosure

March 12, 2010 By Leave a Comment

 

 

You may be on verge of missing your mortgage payments, behind on payments, or even facing foreclosure so what are your options?  Try to look at the situation more from a financial standpoint rather than an emotional standpoint.  This way you can more successfully analyze which option might best suit your needs and  move you towards resolving your financial difficulty.

One very important thing to remember: Time is of the essence. Take time to think through your situation and make a decision.  Then, take action right away so you have enough time to complete the solution you choose.

Nine options when facing Foreclosure


  Read more...

Filed Under: Common Real Estate FAQs, Foreclosures, Seller Resources, Short Sales Tagged With: , , , , , , , ,

Email Property Lists

March 5, 2010 By

Are you looking for a home in the Broward county or S Palm Beach area?  If you are looking for Short Sales, Foreclosures, Corporate owned properties, HUD Homes,etc. then fill out this form and I’ll be glad to email you listings that fit what you’re looking for.

You can find great deals if you are first to know what comes on the market in your area and with my email system you will be notified as soon as these homes are listed! You can’t get any faster than that!

Fill out the form below!

–

Your Name (required)

Your Email (required)

Subject

I am looking to buy a Home

I'm looking in the following cities:

Additional Details

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Save my Home!

March 5, 2010 By

Contact me to request information on your current situation. If you’re not able to make your monthly mortgage payments or are seriously struggling to do so YOU HAVE OPTIONS!

Everyone’s situation is different and waiting until things get worse only means you’ll have less options than you would if you take action now. Get educated and understand what you need to do to either keep your home, or get out of it without seriously regretting the consequences you could face.

You owe it to yourself and your family to take a few minutes and find out what you can do. I’ll be glad to give you sound advice and do my best to lead you in the right direction in this difficult time.  Read more...

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. Coral Shores Realty's Dustin Miller 6876 West Sample Road, Coral Springs, FL 33067-4283 (954) 907-4773 Realtors Coral Springs Locations Real Estate Directory