My property is in rough shape and needs a lot of work - can I still do a Short Sale?

http://www.reallynicehomes.com/blog/my-property-rough-shape-and-needs-lot-work-can-i-still-do-short-sale/

Question & Answers for Short Sales

My property is in rough shape and needs a lot of work; can I still do a Short Sale on my property?

Absolutely. We can sell any property for any amount that matches the property's condition.  In fact most lenders are even more motivated to do a Short Sale on a property that needs work than on a property that doesn't. The lender does not want to do repairs if they foreclose on the property and they know the risk of loss associated with this process.

Normally a property that needs a lot of work is more likely to be sold as a distressed property. .where the lender and the buyer agree to a determined price based on condition.

How is that benefit you as a seller?

There is no  expense from your part doing a short sale. 

You are in a hardship and all the cost associated with a short sale is paid by the lender giving the third part authorization

For a free consultation, call: 

Fernando Herboso 

Broker for Herboso & Associates llc

http://www.reallynicehomes.com/short-sales-expert-maryland-virginia/

301-246-0001

Maryland Short Sale Real Estate, Maryland Short Sale Specialist, short sales, short sales help maryland, loan modifications Get the facts from a distressed property expert that has the ability to help you avoid a foreclosure by doing a Short Sale today!

"How to Short Sale And Never Pay The Bank Another Penny."

       

       Chase Short Sales 

      

     

      

Is a Short Sale Right For Me?

http://www.reallynicehomes.com/blog/what-better-doing-one-short-sale-two/

"What is better than doing one short sale?  

TWO!"

Short Sales have been the salvation for a  lot of the homeowners we helped so far. . .

What can be a better solution?

Your house is upside down by thousands of dollars. 

Your equity may break even with your mortgage in 15 years,

15 years of paying and paying just tor break even? 

So, you've decided to go forward on a short sale. .

You have a legitimate hardship and the lender accepts the short sale

You have another upside down property that is an investment. .

The same hardship can be applied here. . "resetting" your real estate holdings to short sales all at one time. .

and start fresh once again. .

The question is. . .

Is a Short Sale Right For Me?



I invite you to read some of my own publications about short sales and loan modifications. . 

               

          

     

More Short Sale Information HERE 

Fernando Herboso is the author for the above eBooks. 

Fernando is available to consult with you about your short sale situation. .if you live in MD, DC or VA by calling 240-426-5754

In A Short Sale. .Who Pays The Deficiency?

Original article: http://www.reallynicehomes.com/blog/short-sale-will-i-have-pay-difference-between-what-i-owe-and-final-sales-price-my-property/

Question:

On a Short Sale, will I have to pay the difference between what I owe and the final sales price of my property.

In some cases the lender may ask you to pay the difference in the form of a promissory note in order to complete the short sale.

Most often this comes into play if there is evidence that the seller has money available in the form of savings or other major assets.

In some cases the lender will simply give the third party approval with a conditional language that says in effect. ."Short Sale is approved under these conditions. . that the lender maintains the "right to reserve to pursue a deficiency" at a later date.

Most often this is a subdue attempt to maintain their rights to go after the borrower in case they have reasonable belief that they are able to pay it.

My contention to the lender in this case has always been the same back to them. .

"They have a HARDSHIP. . you acknowledging that-- when you gave the approval. . HARDSHIP means NO MONEY!!! WHY ARE YOU ASKING FOR THIS??

"Please remove the language "right to reserve to pursue a deficiency" so we can proceed. . so the seller can be assured that this is the end of it and not leave them hanging just like they have the last few months!. ."

Having experienced 160 short sales, I can assure you that short sales are like snow flakes. .no two are alike. . . even with the same bank!

You are doing a short sale to remove this deficiency and that is the ultimate reward for having to consider it. . if not. . why do it at all?

 

Fernando Herboso is a Short Sale Specialist in Maryland DC and Virginia 

Expert in  Bank of America, Wells Fargo and Chase Short Sales.

call: 240-426-5754 for MD, DC & VA

Fernando Herboso has listed over 160 short sales, trained dozens of agents "how to do short sales "and has authored the following books about short sales

Author of the eBOOK "Is A Short Sale An Option For Me?

Author of the eBOOK "AdiosLender.com"

Author of the eBOOK " 10 Secrets To Loan Modifications"

Author of the eBOOK " Avoid Foreclosure Hell"

Author of the Ebook " 31 Reasons To DO A SHORT SALE"

Maryland Principal Broker : Fernando Herboso direct # 240-426-5754
My  Best Short Sales Testimonial Ever 

Herboso & Associates LLC | 301-246-0001 

Maryland | DC | Virginia  

www.Short-Sales-Expert.com 
www.ReallyNiceHomes.com

Hello, 

It is my sincere belief that homeowners need to find an advocate to represent them.  

Someone to seek the guidance, counsel, and services to make the right decisions based on facts and not emotions.  

An advocate that is educated, a licensed distressed property expert, a real estate broker that has the experience, the knowledge and the savvy to simply get you OFF the hook! Someone that will act totally in your best interests to help you find the best solution to the financial crisis you are facing now.

I believe I am that advocate for you for many reasons. .

Please call 240-426-5754 to discuss your special case. .  . without any obligation.

Thanks, 

Fernando Herboso

How To Avoid a Deficiency Judgment in MD After a Short Sale?

From http://www.reallynicehomes.com/blog/how-avoid-deficiency-judgment-when-doing-short-sale-md/

Simple and direct.. if you qualify for a HAFA Short Sale 

One of the main lender requirements  is that they will not seek a cash contribution or promissory note from you. . (the borrower) further more, they may not pursue a deficient judgment against the borrower.

Asking again. 

How can you avoid a deficiency judgment doing a short sale in your underwater property. .

very carefully.

Specially finding the right professional  to help you see all your options based on your current financial situation. .

Looking for someone to help you in Maryland, DC or Virginia?

Call 240-426-5754

Fernando Herboso 

Broker for Herboso & Associates 

Maryland Short Sales Expert

www.Short-Sales-Expert.com

If your mortgage is underwater. . Do you qualify for a principal reduction?

If your mortgage is underwater. . 

Do you  qualify for a principal reduction?

First of all . .if your loan is owned  FreddieMac or FannieMAe. .THE ANSWER IS NO!~

You can find out if your loan is with either of these lenders by looking up your loan at www.fanniemae.com/loanlookup or www.freddiemac.com/mymortgage

If you are still in. .

then

This is your first step. . 

Just reach out to your bank to find out if you may be eligible. The only banks that are participants of this settlement are below with their phone numbers. . if your lender is not listed there. .you do not qualify. If your home was foreclosed by any of these banks during 2008 and 2011, call them to claim your $2000.00

Ally/GMAC:           800-766-4622

 Bank of America:    877-488-7814

Citigroup:              866-272-4749

JPMorgan Chase:   866-372-6901

 Wells Fargo:           800-288-3212

What if my house is already listed as a short sale, and I'm in the middle of negotiations with my lender right now?

If you already missed one mortgage payment, you do not qualify for this Government Mortgage Settlement and my advice is to continue on with your plans.

If you have NOT missed your mortgage payments and you are seeking for a short sale relief. .you may consider calling your lender to the numbers listed above and ask them specifically. .do you qualify?

Be prepared to wait some time for this.

 READ MORE HERE

The Worst Thing You Can Do Is Wait ! Take Action Today!

Get the facts from a distressed property expert that has the ability to help you avoid a foreclosure by doing a Short Sale today!

www.SHORT-SALES-EXPERT.com

Short Sale Question: My Lender's HUGE ERROR!

 Maryland Short sale question posted about LENDER'S HUGE ERROR!

 Q:

I have been in default of my first and second mortgage for about 6 months. I was laid of from my employer and my financial situation gone down hill ever since. I now have my house up for short sale and have become employed. I have decided to go through with the short sale and move on with my life. Recently my first mortgage company notified me by mail sending the original loan papers that my loan is paid in full. They have made a huge mistake since I am really in default. They have been hounding me for the documents to be sent back to them. I don't want to send them if their mistake can work in my favor. My question is....Due to me now having position of my original loan documents stamped and signed paid in full, does that mean that I am free and clear of the loan and the owner of the house? Please advise on what if any steps I will need to take. Thanking you in advance,

and my response. . .

A:

Let me get this straight. . a clerk makes a mistake. .and you want to take full advantage of their error without any disregard from your own admission to be in default of the loan?.  . 

It's like I come into your house,  buy a used vacuum cleaner from you. .give you a check for $100 . .except I forgot to put a comma and the check is actually for $10,000. .so you need advise if you should cash this check or not?

My advice.. 

do the right thing!

When it comes to short sales in Maryland. . finding a creative solution to solve your problems can be easier and clearer . .. if you allow an experienced professional to assist you. . .

www.Short-Sales-Expert.com

for MD, DC and VA

Direct number 301-246-0001

Who Qualifies for a Short Sale?

www.Short-Sales-Expert.com

Who qualifies for a short sale? 

Any homeowner that has incurred an economic hardship recently that has created difficulties in paying their mortgages.

In some cases, lenders will OK a short sale even if the homeowner is up to date on their mortgage payments.

Some examples of  hardships:

• Loss of a job
• Death in the family
• Mortgage adjustment from a variable to a fixed rate
• Curtailment of employment
• Divorce
• Excessive Debt

For a complete assessment to see if you qualify for a short sale or alternatives, its very important for you to contact a real estate broker that specialize in short sales. In most cases and with a honest evaluation, you will find yourself with CLEAR OBJECTIVES and plans to make a sound decision.

No one should advice you to do a short sale. .that decision has to come from you after evaluating all your options.

For a quick consultation if a short sale is right for you, please call our confidential number 301-24-0001 

Or check our evaluation site for short sales specialists

Fernando Herboso

Broker Realtor

Herboso & Associates

www.Short Sales-Expert.com

301-246-0001

Short Sales Specialist for Maryland: Avoid a Foreclosure and Save Money

Let Us Help You Avoid Foreclosure in Maryland! http://www.Short-Sales-Expert.com

Are you struggling to stay in your home due to a hardship and are in peril to losing  it?
 Do you need a fresh start and would like to preserve your credit rating?

www.Short-Sales-Expert.com are here to help you find solutions!

You have options beyond foreclosure or bankruptcy. .I can assure you of that
Contact us get more information about how we may be able to help you make the right decision and if applicable  negotiate a short sale with your lender and possible a complete forgiveness of the deficiency (your bad loan)

For almost 5 years now, I’ve listed over 150 short sales interviewing homeowners just like you using our extensive real estate knowledge and bringing common sense solutions.
Why pay thousands of dollars to an attorney?  Our services are available at no cost to you. .an uninterrupted interview is also free.

I can only help a few homeowners at at time. I'm very selective because it matters to you and your financial future. . .Do you need a super hero to deal with your bank? 

Call me and let's see if you can qualify 240-426-5754
Fernando Herboso
Short Sales Specialist
Herboso &Associates llc
Maryland, DC and VA
240-426-5754