Nice testimonial today from a Methuen CDPE Realtor!

It was an absolute pleasure working with Rapid Property Relief. As a certified distressed property expert I rarely find other professionals that know how to properly handle and negotiate short sales. Thank you for a smooth and seamless transaction. I appreciate your hard work and I look forward to working with you again in the future!
Kristen Blanchet, CDPE
www.sellyourden.com

Bankruptcy and Short Sales in Massachusetts and New Hampshire. How does bankruptcy affect your short sale?

We have done enough short sales to see our fair share of bankruptcies occur. There is an impact to a homeowner’s credit and their short sale if they file bankruptcy. Homeowner’s in need of filing need to speak to an experienced attorney if they are considering bankruptcy as an option to stall a foreclosure or capture their deficiency from a short sale. I would even suggest they find a bankruptcy attorney that also specializes in Real Estate.

Deficiency vs. Deficiency Judgment in Short Sales and Foreclosures for New Hampshire and Massachusetts Homeowners

People misunderstand the terms deficiency and deficiency judgment when explaining the risks in short sales or foreclosure actions. It is easy to do. Short sales and foreclosures are confusing for most homeowners. Even after explaining the potential outcomes of a short sale or foreclosure in Massachusetts or New Hampshire, homeowners still are overwhelmed.

Should homeowners participate in a HAFA short sale in Massachusetts or New Hampshire?

SECOND lenders do not have to participate in the HAFA program so even though it’s Chase or Wells or whoever the second lender is and they independently participate in the HAFA program as a second lender on the property they do not have to comply with the HAFA program. The agent’s going into these short sales didn’t realize that. Not only were the agent’s furious about the homeowners, the lenders in both cases CUT the commission to get an approval. Imagine that? A short sale lender cutting an agent’s commission? Well THERE’S something you don’t see every day right? WRONG!!