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Common Short Sale Misconceptions

by Atlanta Short Sale Agent on June 15, 2010

Common Real Estate Short Sale Misconceptions

  1. The bank owns the home – Nope! The home owner owns it until the bank takes it in foreclosure (or deed-in-lieu).
  2. All offers on the home go to the bank – Actually, by Georgia Real Estate Law, all offers need to go the seller.  If the seller decides to send them all to the bank or just one, that’s up to the seller. [click for more short sale info...]

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Who Are The Real Short Sale Experts? Part 2

by Atlanta Short Sale Agent on June 11, 2010

Key Questions For Determining Short Sale Expert Status

Last time we talked about the other people that try to help. There are certainly well meaning individuals out there that are qualified and can help.  However, more often then not, these “other” people are looking for another angle to get paid on the short sale than just what the bank has to offer.

Real Estate Agents

Although it’s a bit biased opinion, Real Estate Agents are typically the ones that you should be turning to, especially if the only debt you are dealing with is your home. [click for more short sale info...]

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Who are the Real Short Sale Experts?

June 9, 2010

Key Questions to determine if you’re dealing with a True Short Sale Expert
If you are in the unfortunate majority of home sellers who are upside down on your home and needing to move, it can be a stressful situation.  Add to this the complexity of choosing someone to help you.  You have supposed short sale [...]

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Loan Modification Specialists?

May 28, 2010

Loan Modification Specialists?
Anyone that has been worried about their mortgage at one time or another these days has likely thought about a loan modification.  With all the “specialists” and “help” out there it’s tough to know who to trust.
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Loan Modification – Letter from the Bank, Post-op

May 8, 2010

I received this e-mail recently regarding some loan modification completions that we had recently done.
“After the assignment has been completed and submitted, check back with the homeowner in one to two weeks.  More often than not, the homeowners you contact will not be able to recover financially. For whatever reason, it doesn”t [...]

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GMAC Short Sale Exchange

May 7, 2010

The more short sales simplify the more they get complicated, instead of complaining about it here, I thought I would show you from quotes from e-mail correspondence with GMAC Loss Mitigation department:
Hi,
Thank you for submitting an offer.  I have a counter offer for your offer. If possible, you should reply to this note through Equator [...]

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FHA Short Sale Process – Flagstar

April 27, 2010

Roswell, GA – Atlanta’s Premiere Short Sale Specialist Team closed another short sale last week.  Located at 620 Pine Grove in Roswell GA, this home was an FHA Short Sale through Flagstar.  There were many hurdles that are common with FHA short sales, but at the end of the day those hurdles [...]

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HAFA – Home Affordable Foreclosure Alternative – Even More Information

April 13, 2010

If the servicer has not already discussed a short sale or DIL with the borrower, the servicer must proactively notify the borrower in writing of the availability of these options and allow the borrower 14 calendar days from the date of the notification to contact the servicer by verbal or written [...]

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Even More HAFA (Home Affordable Foreclosure Alternative) Information

April 12, 2010

It is important to note that lenders are not required to participate in the Making Home Affordable Program, and those which choose to participate have their own internal guidelines for how the program works within their company. In order to determine what internal guidelines are offered through your client’s lender you [...]

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HAFA (Home Affordable Foreclosure Alternative) Qualifications

April 10, 2010

I’ve been fielding calls about the HAFA program for the last month and it’s so unfortunate that the “powers that be” decided to market this program so heavily but did not decide to use their “power” to inform the public. Here’s a quick run down of the qualifications:

You must be 60 days behind
Your home [...]

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