Negotiating the Short Sale – Part I
While the residential real estate market has been heating up, there are still many short sales which need to be completed. Negotiating a short sale is probably one of the most complex assignments an attorney or realtor can undertake. Before ever attempting to negotiate a short sale, a person should have prior experience with negotiating deals. This is a must. If this is the first time you will be negotiating a deal, I would highly recommend a mentor. Read the rest of this entry
350 M Mortgage Aid
On Wednesday September 25, 2013 the Florida Housing Finance Corporation began accepting online applications for mortgage assistance. The FHFC anticipates it will receive thousands of applications from Florida homeowners who own more on their homes than what they are worth. The website to apply is www.principalreductionflhhf.org. Read the rest of this entry
Foreclosures and Short Sales
Unfortunately, foreclosures and short sales go hand in hand. Very rarely will the mortgage companies not file the foreclosure suit when the mortgage is six or seven months past due (completing the foreclosure in another matter entirely). Read the rest of this entry
Short Sales and Chapter 7 Bankruptcy
Let’s face it bankruptcy complicates everything, Right?
Well, not really. Let’s say you list a home for a short sale. Many times, the homeowner has other financial problems besides the mortgage on his or her home. The homeowner may decide to file for bankruptcy. That’s OK. Your chance to complete the sale is not dead, but it is on hold. Read the rest of this entry
Can my mortgage company foreclose during my short sale?
The answer is yes, they can start foreclosure, but why would they do it? This is normally a situation where one hand doesn’t know what the other is doing. The bank/ mortgage company/mortgage servicer can start a foreclosure proceeding at any time once the homeowner goes into default. Normally, a homeowner starts the short sale process once they have already defaulted, so the foreclosure process can begin at any time. Read the rest of this entry