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Tale of 3 Markets

by Atlanta Short Sale Agent on February 9, 2011

I posted this over at GA Homes but thought it was appropriate for our discussion on Short Sales Listings.  Often we get requests from investors about short sale listings and of course, we want interest and offers from investors.  The challenge is that Short Sales represent a great opportunity for the savvy buyer, but often don’t represent a killer deal for the investor.    The fact is that most of the money is made going into the deal and seeing the updside.  Short sales are typically in better overall shape than REO properties and the banks typically won’t let them go for outrageous prices.  However, a patient investor could get a deal, as explained in the video.

Technorati Tags: Listing Information, Market, misconception, Preforeclosure, short sale agents in georgia, short sale listings, short sale specialist

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What Banks Do You Work With?

by Atlanta Short Sale Agent on February 7, 2011

What Banks Do You Work With?

In short, all of them.

There are banks, like Suntrust that we prefer NOT to work with and others like Citi or EMC that we do enjoy working with.  However, in general, we won’t turn away helping a home owner due to their bank or servicer.

Technorati Tags: banks, citi, misconception, Preforeclosure, short sale, short sale agents, short sale agents in georgia, video, What Banks

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Certified Short Sale Agent

October 11, 2010

You’ve watched my videos before and you’ve likely heard that I’m not fond of the short sale designations because they have very little to do with actual short sale negotiations and more to do with marketing.  Today I am copying and pasting an e-mail I received from foreclosure.com. Right now I would  like to offer [...]

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Who Are The Real Short Sale Experts? Part 2

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 [...]

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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 matter.  We [...]

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HAFA – Home Affordable Foreclosure Alternative – Video to Realtors

April 8, 2010

Understanding HAFA is going to take some time from Realtors and home owners alike. What this video fails to mention is that only 30% of the loans out there would even be eligible for this program. The shocking part is that what % of that 30% actually qualify by being behind 60 days or more [...]

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You HAFA learn about HAFA

March 23, 2010

The HAFA (Home Affordable Foreclosure Alternative) programs is going to be rolled out on April 5th and there’s a lot of hub-bub about it.  Let me ask you, did you remember or notice the HAMP plan?  Probably not.  Home Affordability Modification Program was a failure.  With good intentions, the servicers found out ways to get [...]

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The Bank’s View

February 25, 2010

It’s important to understand the bank’s viewpoint. BPO (Bank’s Appraisal is High) They think the home is worth more so their REO comparisons have a “happy ending.” Meaning, they think they can resell the home for more then your offer. You Want More Closing Costs so You Increase The Price (the Net to Seller Remains [...]

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Lenders Pursue Mortgage Payoffs Long After Home Owners Default

January 28, 2010

According to business week, this is a common practice, one that makes it scary to even think about a deed in lieu or a foreclosure. Deficiency judgments were rare in the 15 years since the last real estate slump, said Ben Hillard, a former investment banker who now is a real estate and corporate attorney [...]

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Do You Have An FHA Mortgage? Short Sales Are A Breeze

December 22, 2009

If you have an FHA mortgage then you might qualify for your lender to “pre-approve” your short sale with what is called a “Pre-Foreclosure Sale.”  I can’t tell you specifically how the two are really different at the end of the day.   However, I can tell you that we are closing short sales in record [...]

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