Archive for November, 2019

How far in default is TOO FAR in order to take a HUD-insured short sale.

November 20, 2019

If you’re going to list a HUD backed short sale then this video is for you. Do not take a short sale that is over 36 to 40 months past due. They’re just going to reject that as a short sale. Unless you have extenuating circumstances. They have unwritten guidelines at HUD. Take it from […]

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Posted in Bankruptcy and Short Sales, Negotiation, Short Sales Massachusetts New Hampshire Comments Off on How far in default is TOO FAR in order to take a HUD-insured short sale.

The DEED vs. The NOTE in a short sale.

November 18, 2019

This video is for real estate agents who are taking a short sale listing. This is about the difference between the DEED and the NOTE. I have a lot of clients who come in and they are in a divorce situation. One spouse is saying that the other spouse DEEDED the property over. This is […]

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Posted in Bankruptcy and Short Sales, Negotiation, Short Sales Massachusetts New Hampshire Comments Off on The DEED vs. The NOTE in a short sale.

Should You Stop Paying Your Mortgage to do a Short Sale?

November 15, 2019

The number one question I get asked by every homeowner that calls in and inquiring about a short sale is “Should I stop paying my mortgage?”  I’m not going to answer it. I cannot answer whether or not you should stop paying your mortgage. This is a question I refer to the attorney who will work […]

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Posted in Bankruptcy and Short Sales, Negotiation, Short Sales Massachusetts New Hampshire Comments Off on Should You Stop Paying Your Mortgage to do a Short Sale?

Should you hire someone to do your loan modification?

November 14, 2019

Should you hire someone to do your loan modification? I probably get this question asked three or four times a week. I’m not in the loan modification business. We have a loan modification attorney partner which I love because they’re excellent. But here’s the thing, the one thing that I’m going to advise every homeowner […]

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Posted in Bankruptcy and Short Sales, Negotiation, Short Sales Massachusetts New Hampshire Comments Off on Should you hire someone to do your loan modification?

What are the fundamentals of a short sale?

November 13, 2019

What are the fundamentals of a short sale? This is my 1 minute video overview of what is a short sale! You can do short sales in any state in the country.  We usually work in Massachusetts but the set-up is the same for any state in a country. So, you have a homeowner and […]

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Posted in Approvals, Bankruptcy and Short Sales, Short Sales Massachusetts New Hampshire Comments Off on What are the fundamentals of a short sale?

What is a deficiency release in a short sale?

November 13, 2019

What is a deficiency release in a short sale? Deficiency is what’s leftover on the note.   For example, let’s say you owe $300,000 on your loan and your Real Estate Agent received an offer for $275,000.  If the $275,000 is what the lender NETS when the sale closes then there is $25,000 in deficiency left.  […]

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Posted in Bankruptcy and Short Sales, Negotiation, Short Sales Massachusetts New Hampshire Comments Off on What is a deficiency release in a short sale?

Most common short sales in Massachusetts

November 13, 2019

Most common short sales in Massachusetts The four most popular types of programs that you may run into when negotiating a short sale are Freddie Mac/ Fannie Mae, HUD/FHA Pre-foreclosure sales and of course your Non-GSE loan.  I’m not going to spend spend a lot of time on Non-Government Sponsored Enterprise loans. Realistically you have […]

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Posted in Bankruptcy and Short Sales, Negotiation, Short Sales Massachusetts New Hampshire Comments Off on Most common short sales in Massachusetts

Why pulling Title upfront is important for your short sale in Massachusetts?

November 13, 2019

Why pulling Title upfront is important for your short sale in Massachusetts? Title work is important! If you start a short sale and you have not officially checked the title your sale could end at approval time.  Let’s say you move all the way through the approval process, only to find out there’s an undischarged […]

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Posted in Approvals, Bankruptcy and Short Sales, Negotiation, Short Sales Massachusetts New Hampshire Comments Off on Why pulling Title upfront is important for your short sale in Massachusetts?

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