No Hardship Documentation Required Now For Short Sales!

There is something new to report in the short sale world.

Homeowners with underwater properties have many reasons to celebrate the introduction of the new guidelines from the two government-sponsored enterprises (GSEs) – Fannie Mae and Freddie Mac. On November 1, 2012 the Federal Housing Finance Agency (FHFA) – the regulator for these two GSEs – will begin new guidelines that are expected to make short sale simpler and easier.

It’s about time. .

One of the key changes for short sales revolves around the process and the simplification that will be effective in November 2012 

Example:

• If you have a reduction in income, there is no need for hardship documentation. .
• If you are self employed and can prove the reduction of earned income, there is no need for hardship documentation. .
• Death of either borrower/co-borrower? There is no need for hardship documentation. .

and the biggest news. .

 Enable servicers to quickly and easily qualify certain borrowers who are current on their mortgages for short sales! . . (and you may buy again in TWO SHORT YEARS!)

READ THE LATEST GOVERNMENT ASSISTANCE PROGRAMS FOR UNDERWATER HOMEOWNERS HERE

The Perfect case scenario for the married self employed:

1. Your Mortgage's up to date
2. One spouse works full time (no change)
3. Other spouse is self-employed (big reduction in income) 
4. Your mortgage is owned or guarantee by Fannie or Freddie
5. You have less than 6 month's worth of savings to pay your mortgage 
6. Apply for the "No Documentation Required Short Sale"
7. Sell your house as a short sale
8. Wipe out any deficiency incurred
9. Sign a two year lease contract with a similar house as the one you just sold
10. After two years come back to the same neighborhood and buy similar home again!

With the current economic crisis and huge Government debt, any equity build-up for an average neighborhood will be very minimal in two years time.. .the end result could be worth hundreds of thousands of dollars to your personal financial world

ACTION PAYS in this case. .INACTION?.. YOU PAY!

      

                           

Ready to explore the possibilities?, Give me a call 240-426-5754

Fernando Herboso author of: 

     

Arora Hills Clarksburg Maryland 20871 ALL HOMES FOR SALE

http://www.reallynicehomes.com/blog/arora-hills-clarksburg-homes-sale-20871/

Arora Hills Clarksburg Homes For Sale 

Arora Hills Neighborhood is where you will find a settled new community where its residents  enjoy an ambience of peaceful afternoons, tranquil walks with their families and kids  playing on the nearby park. Arora Hills homeowners showthe pride of homeownership and is clearly evident when you drive around.

Typical Clarksburg Neighborhood. .Let's take a ride:

Clarskburg Highlands in Clarksburg 

Check Out The Latest Listings in Arora Hills Clarksburg Below. .

Sample of Active Listings of Arora Hills in Clarksburg Maryland 20871. . .SEE THE LATEST HERE

$548,990

22911 MUSCADINE DRIVE, Clarksburg

Open kitchen design allows you to prepare your meals while still entertaining your guests. Study located to maximize privacy while working at home. Walk-in closet is desi...

• Beds 4
• Baths 4.0
• MLS MC7843362

$534,990

22912 MUSCADINE DRIVE, Clarksburg

Center island created for easy food prep and a place for your family to snack or spend time together. Study located to maximize privacy while working at home. Sitting roo...

• Beds 4
• Baths 3.0
• MLS MC7843353

$363,485

23004 MEADOW MIST ROAD, Clarksburg

Beautiful Morgan model with 3 level extension. Beautiful upgraded maple cabinets, stainless steel appliance, hardwood on entire 1st floor, deluxe master bath and more! Be...

• Beds 3
• Baths 4.0
• MLS MC7916990

$346,990 ▲

22937 SWEETSPIRE DRIVE, Clarksburg

Beautiful open floor plan, with dream kitchen offering stainless steel appliances granite countertops and more! Other features include 2 car garage, deck, brick front, al...

• Beds 3
• Baths 4.0
• MLS MC7843100

$304,990 ▲

LITTLE SENECA PARKWAY, Clarksburg

Amazing penthouse home with a huge-open floor plan! Lives like a single family but has lock and leave convenience. Lots of included luxury features!

• Beds 3
• Baths 3.0
• MLS MC7873821
• Bldg. Arora Hills

Lets Ride Clarksburg MD . . . Climb Aboard. . . .

Clarskburg Village #1

Clarskburg Village #2

Clarskburg Gateway Commons 

Clarskburg Highlands in Clarksburg

Clarskburg Highlands in Clarksburg #2

Lets have some fun in. .  . . 

Search Other Clarksburg Neighborhoods

• Arora Hills
• Clarksburg Town Center
• Clarksburg Village
• Gateway Commons
• Green Valley

Starving for Listings. . .in Maryland

http://www.reallynicehomes.com/blog/starving-listings-maryland/ Search Homes Our Selling Fees Foreclosures Short Sales

Starving for listings. . .

July 2012 Maryland Suburbs MarketWatch Inventory of ACTIVE LISTINGS in Maryland Suburbs area has dropped tothe lowest levels in July  2012.. look at this example. . July 2008 = 13,298 Active Listings  July 2009 =  8,892  Active Listings  July 2010 =  8,609  Active Listings  July 2011 =  7,811  Active Listings  July 2012 = 4,638  Active Listings  There are just not enough homeowners that have the luxury of selling when their equities are below or near the appraised value of their properties. This is why we are offering a reduction of selling fees when you use our services. See our selling fees here I would appreciate it if you pass this message along to someone that needs selling soon. . . Have a great weekend! Fernando, Fernando Herboso | Herboso & Associates LLC | 301-246-0001  Maryland | DC | Virginia   www.ReallyNiceHomes.com www.Short-Sales-Expert.com  Our unique No-Shackle-Listing Agreement is perfect for homeowners to save thousands of dollars when selling their homes in Maryland. Then you will be aware of our No-Shackle-Listing Agreement Guarantee

Homes With Pools for Sale in Maryland

http://www.reallynicehomes.com/blog/homes-pools-sale-maryland/

Montgomery County Maryland

Homes For Sale With a Swimming Pool 

Whether you are buying or selling, www.ReallyNiceHomes.com should be your  #1 resource for Real Estate Here's a small sample of what it offers. .

HOMES WITH POOL SEARCH  CLICK HERE 

We can help you locate the perfect home with swimming pool for you and your family to enjoy for years and years to come. We know pool homes do not appeal to many because of its costs associated with maintenance. Nevertheless, homes with pools are one of the most searched options in our website aside the general homes for sale.

Swimming is one of the best exercises you can do, specially for those that have problems with  arthritis, joint disorders, or back problems. Many studies have shown that immersing your body in water is one of the best ways to find relief from stress on joints and your spine.  Having a pool in your back yard has many benefits.

Check out a sample of homes with pool in Montgomery County Maryland below

$385,000

302 MANSFIELD ROAD, Silver Spring

Great Sligo Park Hill's home! Owners want me to SELL this home! Good amount of land in the backyard complete with pool, gazebo and 2 separate storage sheds. Updated windo...

• Beds 4
• Baths 3.0
• MLS MC7914893

$549,900

25818 BOWMAN ACRES LANE, Damascus

New PRICE!! Listed at appraised value!! Sought after location on cul-de-sac! First floor owners' suite, 2 acres, pool and 3 car garage make this home stand out from the r...

• Beds 4
• Baths 4.0
• MLS MC7828214

$699,500

8710 LOCHAVEN DRIVE, Gaithersburg

Exquisite colonial In Goshen Estates has over $90K in improvements. 4 BDs & 3.5 BAs, Replacement windows & sliding doors. Updated center isle kitchen has granite c-top. M...

• Beds 4
• Baths 4.0
• MLS MC7912724

$1,225,000

12060 WETHERFIELD LANE, Potomac

Amazing opportunity to live in Stoney Creek Knolls. Beautiful, 2 acres, serene view, heated pool, large deck. Gorgeous floor plan with hardwood floors, 4 fireplaces, gr...

• Beds 4
• Baths 5.0
• MLS MC7913732

$395,000

6516 PILGRIMS COVE, Derwood

This 4BR, 2FB 4-level split is a must see! Situated on a lge lot w/mature trees, fenced back yd, in-ground pool & attached 2 car grg, this home features a TSK overlookin...

• Beds 4
• Baths 2.0
• MLS MC791323

Can you do a short sale, while you are current with all mortgage payments?

http://www.reallynicehomes.com/blog/can-you-do-short-sale-while-you-are-current-all-mortgage-payments/

What To Do?

What To Do?

Question: Can you do a short sale, while you are current with all mortgage payments?

As the years pass, I see why this question as being one  of the most popular ones when it comes to short sales.

My answer has always been the same.

Outside of an attorney, no one should advise you to stop making your mortgage payments. That being said, it is now more than ever that banks have family accepted this motion

People will not make payments on an underwater mortgage. .they want options.

There are currently 11 million mortgages that are considered in trouble - behind on their payments

At the beginning , it used to be that lenders would not consider a short sale if the payments were current, but that is no longer the case. Realizing the amount of potential foreclosures on the horizon. .and several other factors that could contribute to a potential default, many lenders are eager to accept short sales including Fannie Mae.

The best news is that you can buy another house in two short years!

These are the signs of times. . 

If Your Home's Market Value Has Dropped. . 

You are current on your payments. .

What to do?

Is all about your hardship.

If you suspect reduced income for your future. . this is your opportunity to get rid of a bad investment.

You have until December 2012 to avoid any taxes on the forgiving amount.

The starting point of ALL SHORT SALES is when you first write a hardship letter. .if you have a compelling case. . DO IT! , regardless if you are current on your mortgage payments or not. Reference: www.AdiosLender.com

I just finished a short sale in Maryland that the lender gave my client $274,672.22 forgiveness of debt.

Imagine that is $274,672.22 that my clients don't have to pay. . the best news is that this was a HAFA short sale and they received $3,000 relocation costs and a promise NO TO GO AFTER THEM WITH A DEFICIENCY JUDGEMENT!

They are already on my to do list 1 1/2 years to call them and advice them to buy a new property . .timely, they have a 2 year lease on their new home now. . just perfect timing!

What are some examples that do NOT constitute a hardship?
Good question, every case is different but one thing you need to know is that a bad purchase decision in real estate does not constitute as a hardship.
Buying a substitute home with bad intentions. . you plan to move to the new house and ask to do a short sale in the old one. .very astute form your part, except the ones approving short sales are not fifth graders!
Every case is different. .ask if you are not sure.

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. .

With my experience and as a broker certified by different organizations to do short sales, I have developed a system that helps homeowners dealing with distressed properties. My team of Realtors, one assistant, an attorney and several supporting staff has developed long lasting relationships with these lenders that allow you to take advantage to short sale your property quickly and remove instantly bad mortgage debt. The strength of our experience and knowledge is invaluable to anyone seeking for a solution.

Fernando Herboso Broker for Herboso & Associates 240-426-5754