Posts Tagged ‘short sales’

How will a short sale affect my credit long term?

I am stuck in a situation in which I am upside down on my home and with a new baby on the way I need to buy a bigger home and also take advantage of the low mortgage rates and cheap home prices, therefore I am leaning towards doing a short sale. Only thing is that before I go forward with it I want to know what long term affect with it have on my credit? If any. Thanks.

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How to do real estate short sale in New Jersey?

I am a real estate professional in NJ. I have a client with a home for sale that is in foreclosure. The client has a first mortgage with Indymac. The client also has a second mortgage also with Indymac.

We received an offer for this home for less than the asking price and the amounts of the mortgages. It will be a short sale. Can anyone tell me the best way to proceed with this?

I would prefer someone who has actually been on the seller side of short sale and if possible dealt with Indymac but all answers will be appreciated. Thanks in advance for your professional opinions.

Recently, I talked to Indymac and this is how they work. They are sending the borrower (my seller) a lending kit. It takes 3 to 5 days to receive. Once we submit the offer, it takes 10 days for them to approve or disprove of it. Sounds simple so far. All other answers are welcome.

Real Estate Short Sale, Better than Foreclosure

Find The Money In It, Or The Way Out: Real Estate Short Sales By The Book

Find The Money In It, Or The Way Out: Real Estate Short Sales By The Book. There are many better options than a foreclosure in real estate. “Homeowners save your credit.” The author’s breakthrough “Foreclosure Rescue Process” detailed in this book shows how foreclosures can be greatly reduced by using some other options:

  • loan modification,
  • Deed in Lieu,
  • Forbearance, and finally
  • Short Sales.
This book is also written for: lenders, investors, and especially BUYERS.
It’s no secret; the lenders may not want the foreclosure back from the homeowner.
This book will show you how you can beat the competition to the real estate auction by packaging a short sale, negotiating a short sale, and buying a short sale. “Why pay market price when you get real estate for pennies on the dollar.” Packed with example forms; this book is a must read. You will not find any other book out there like “Find the Money..” because it is written from first hand experience from the author NOT research like most other books. LOADED with example forms this is a must read.

Buy Find The Money In It, Or The Way Out: Real Estate Short Sales By The Book (Paperback) at Amazon

Short Sale, A Practical Approach

Short Sale, A Practical Approach

The book, Short Sale, A Practical Approach, is designed for buyers, sellers and agents. It is a “how-to” guide to handling of short sale. In light of the housing bubble, the book is released timely to help those who can’t sell their home because the debt on their home is higher than its value.

The book shows step-by-step how approval is obtained from the lender for a short payoff of the loan. Homeowners experiencing financial hardship do not have to face foreclosure. The short sale alternative, if approved, is a better choice.

Agents who do not understand short sale will discover the mystery behind short sale–why it is done.and why the lenders prefer it over foreclosure. It is a market niche that agents should get into.

For those who do not wish to do the negotiation side of short sale, this book will enable them to explain to the seller what short sale entails. The agent’s problem today is that homes are not selling. With short sales, homes do sell!

About the Author

Danny Cachuela has a financial background as a Pennsylvania certified public accountant. He is an experienced negotiator and former CEO of SunSource de Mexico, a corporation based in Mexico City and an operating subsidiary of a New York Stock Exchange company based in Philadelphia, Pennsylvania.

He also was a lecturer in the Undergraduate School of Business at Saint Joseph’s University in Philadelphia, Pennsylvania. Danny Cachuela is currently an associate broker at Prudential Fox & Roach Realtors in Pennsylvania, and is also licensed in New Jersey. He has been invaluable in helping many clients negotiate with lenders to get approval for short sale, including those with multiple lenders.

Buy Short Sale, A Practical Approach (Paperback) at Amazon

The Realtor and Home Owner’s Guide to Short Sales

The Realtor and Home Owner's Guide to Short Sales: Step by Step

The How To Guide for Real Estate Short Sales

The Realtor and Home Owner’s Guide to Short Sales: Step by Step is the guide to short sale for Realtors and homeowners. Across the country, Americans are behind in their mortgage payments and foreclosures are at an all time high. Declining home values have left many home owners unable to sell their homes because they owe more than the homes are worth.

Is Short Sale a hope for homeowners?

There is hope, however. A process known as the “Short Sale” is allowing home owners to get out from under their mortgages without bringing money to settlement.

Best selling author, speaker and real estate broker, Loren Keim, introduces a Step by Step process for negotiating a Short Sale. Whether you are a home owner who owes more than the home can be sold for in today’s market, or you’re a Realtor advising clients about the process, this book is the tool you should have.

For home owners, this book includes an explanation of the foreclosure process, the seven alternatives to foreclosure, tips on renegotiating your mortgage or requesting a forbearance and if necessary, everything you need to complete a short sale.

For Realtors, this book includes examples of forms, advertising, disclosures and marketing methods to attract home owners who need your help.

Buy The Realtor and Home Owner’s Guide to Short Sales: Step by Step (Paperback) at Amazon