Posts Tagged ‘real estate’

The Patten Team Agents are your short sale experts, able to help you navigate the steps needed to avoid foreclosure and sell your home, all with the cooperation with your mortgage bank.
Take a moment to get to know more about us as we want to take the opportunity to earn your business and be your Realtors for Life.

Chris Patten: 602-421-0320 | Angie Patten: 480-577-4830 | Jessica Morel: 480-797-5141
The Patten Team
Keller Williams East Valley Real Estate
2077 W Warner Road #110
Tempe, Arizona 85284

www.AzPattenProperties.com

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Technorati Tags: foreclosure, homes, houses, luxury, real estate, realtor, Reatly, sale

Facing Foreclosure on Your Real Estate Mortgage, Short Sale & Loan Modification are Alternatives. Hire an Expert Short Sale Negotiator, Experienced Real Estate Agent. Go To http://RealEstateMarketingThisWeek.com

Part 7 (Excerpt)

Prices are back to 2003 levels: A Short Sale is significantly cheaper for a bank than a foreclosure

Were in the studio today with Kalyn Roberts and Jeri League of the Dreamvesting Group, these two young ladies are experts in the short sale area, they are NOT going to tell you what you want to hear, they are going to tell you what you need to hear. There is a big difference between what you want and what you need in the case of getting out of a situation. We talked during the break about the different types of people; who qualifies, who doesnt qualify, who this is good for, and who its not good for. I want you to talk about people who are upside down and how youre here to help.

What we want to get across today if you just need to call someone if youre upside down in your mortgage, if you have a listing next door and its a bank owned or short sale, there is a good chance youre probably upside down in you mortgage if you bought anytime in the last, in the last 5 years were almost back to 2003 pricing now.

Just to jump in real quick, Jeri and Kalyn its not just the people who purchased, its the people who used their homes as ATMs which is a crude way for me to say it but lets be honest. You watch the television, and I am not going to name any names, but a company that rhymes with lietech though, they have a commercial where they are showing pictures of using your home to buy a big boat and everybody got sucked into that and now here were.

Yes, if you used your second mortgage to build that big beautiful pool in your backyard, maybe you need to call us. Yes, its unfortunate, we always tell everyone like you just said, everybody got sucked into it, it doesnt mean youre stupid, it doesnt mean you necessarily made a really bad decision. Most people got caught up in the real estate market and good marketing ploys like that, and the bottom line is as we said earlier you dont have to be late on your mortgage payment, you dont have to be facing a foreclosure, if youre simply upside down because you refinanced your home or purchased too recently and the house next door is selling for $100,000 less than yours and you just need to get out of a bad financial situation, youre a candidate for a short sale or even a loan modification.

One of the things about loan modifications that I hear all the time is, and I research other loan modification companies, and what I hear is they are telling people things that just arent real. For instance if your owe $400,000 and your house is worth $300,000 and you want your lender to forgive $100,000 on a loan modification, chances are that isnt going to happen, whereas with a short sale, when youre exiting the property because it just isnt going to work, they would in most cases consider doing that.

Absolutely if that is the market value of your home they are going to consider the bottom line, the banks dont want these properties back, it costs them so much money to go through a foreclosure process and as our prices are falling, monthly, weekly, daily, the likelihood of the value of the property being extremely lower by the time they get the property back is 100%.

In addition to the $60,000 in foreclosure cost, paying real estate commissions and a few other fees is significantly better, because the loss is going to be significantly less with a short sale. Heres a question and I hope that I am not putting either of you on the spot, but suppose the guy owes $400,000 on his house, lets just say its worth $300,000 and you get the listing and this guy is out at a cocktail party and his cousin shows up and says, Ill buy the house from you. Ill buy the house from you, we will make the bank pay the difference and Ill just let you stay in the house. Is that a realistic situation, is someone going to find out about it? Is it good to do that or not?

In real estate, real estate purchases and transactions have to be non-arms length. Now arms length is described as your parents and your children, other than that we pretty much stay out of it because theoretically, yes that could happen, however the banks want to see that the homeowner is not benefiting, so the homeowner would have to become a tenant and be paying rent to new owner at that point. So there are many legitimate situations where you could meet someone who would buy the home and allow you to stay in the home…

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http://www.stoneeg.com/ An Exclusive interview with Yusuf Kargbo from Stone Equity Group revealing opportunities to buy homes and real estate foreclosure properties at very cheap prices. Watch out for the whole process of buying foreclosure homes and Get an affordable nice place to live.

Foreclosure Investing, Real Estate Investing, REO Foreclosure Investing, Foreclosure Properties, SEG, Stone Equity Group

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Technorati Tags: foreclosures, investing, investing in foreclosure, real estate, real estate investing, REO's

Hello Real Estate Investors in Northwest Indiana & Chicago Land Area;
Don’t waste time bidding on houses just to find out that someone else
had a shoe in and beat you to it, get away from that mess and come down
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imediately, no bidding, no waiting to see if you won, just come pick the one
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first, so if you see it on our listing you can count on it being a great investment.

www.wholesalehousestothepublic.com

Call Wayne Sheaffer today @ 219-741-2677

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Technorati Tags: flipping, foreclosed houses, foreclosure, houses, investor, money, real estate, Real Estate Investor, realtors

Find great deals right now on bank owned, short sale and foreclosure waterfront homes and land in Central Florida. Visit the internet’s top ranked site www.FloridaLakeFront.com

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Technorati Tags: distressed properties, foreclosures, lake homes, lakefront, ocean front, orlando real estate, real estate, short sales, waterfront