Real Estate

Facing Foreclosure on Your Real Estate Mortgage, Short Sale & Loan Modification are Alternatives. Hire an Expert Short Sale Negotiator, Experienced Real Estate Agent. Go To http://RealEstateMarketingThisWeek.com

Part 2 (Excerpt)

Short Sale and Loan Modification; Make sure you Work with an Expert

Were just going to go ahead if we could and just jump right into the short sale information. Jeri, again thank you so much for taking the time to be with us. What is the name of your firm?

Our group is Dream Vesting Group and our brokerage is Keller Williams Arizona Realty.

So that is great, licensed agents with Keller Williams and I know the two of you and I know of your history and we will talk a little bit more about that, but you have been working together for awhile. You and I had a chance to speak about the short sales and your success rate, very, very impressive proven results always helps. So the natural first question for those that are listening today. What is a short sale exactly?

A short sale is a property sale where the bank or lender agrees to accept less than what is owed to them. So the bank is agreeing to take a loss on the sale of your property, and I like what you said earlier about not trusting a loan modification or a short sale to just anybody, you definitely dont want to be the guinea pig and you dont want to approach the bank yourself and ask them to please take a loss because you need to sell your home.

And that is one of the things that is funny nowadays. I know people have seen them pop up all over the town, the ugly yellow bill boards all over the place. Advertising on the radio about loan modifications and they have 100% success rate, all kinds of these different things. The same thing with short sales, you actually have a process and you have a lot of experience doing it, you know the ins and the outs and this isnt a part time job this is a fulltime job.

Absolutely is a fulltime more than fulltime job, the last three Sundays I have been on the phones with lenders when they are open, one of them has a call center in India. I have been on the phone from 10 oclock at night until Midnight and again at 6am with the same lender trying to stop foreclosure.

Well that is good that you have the time, Take the time to do that. I am sorry that you have to work that many hours but you know Kalyn, is it not true that the sooner we get through all of these short sales and loan modifications the better off were all going to be anyway right?

Absolutely, a lot of people ask, what does it take? Who should be considering a short sale? If youre late on your mortgage currently, if your mortgage has adjusted, if you can no longer afford your monthly payment, if you foresee yourself not being able to afford your monthly payments, any of these instances plus several more, you should definitely be sitting down with someone and talking about your options which would be most likely a short sale or loan modification.

Yes the last thing anyone wants, and I mean anyone, is a foreclosure, that is the last resort. Nobody wants a foreclosure; you dont want it on your record, you dont want to have to deal with that. Its a very public event, a foreclosure is, the banks dont want you to foreclose and that is probably why they are so willing to work with you would you say? Absolutely the banks dont want the home back no matter what they tell you.

Exactly and on the loan modification side people try on their own to do this and its true that people can actually do a loan modification on their own but there are so many pitfalls and its just not something you want to try on your own. Surely you dont want to try a short sale on your own. So Jeri let me ask you this, what are some of the main objections?

The main objection that we hear from most of our clients is the cost to them, they already cant afford the payment on their mortgage or they wouldnt be in that particular situation 9 times out of 10 and so they are concerned about cost. Most people have already resigned themselves to the fact that they are losing their home and they dont want to spend any more money on it.

The good news is in a short sale you dont have to spend anymore money, all of the costs are absorbed by the bank. They agree to lose more money basically, so there is no realtor fees and the majority of the time we can negotiate an as is contract so if there are repairs that need to be made they dont come to you and ask you to do it, its just factored into the cost. So its very effective for homeowners.

And again it keeps them from going into foreclosure. They get to stay in the house and they get to save whatever is left of their dignity, some people take it very pride fully as well. So Kalyn, the second most common objection is?

Duration : 0:6:34

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If you are interested in acquiring rental property out of your county, state, or country it is important to learn how to avoid a rental property scam.

Individuals that wish to engage in this type of scam typically post an advertisement on the internet or in a newspaper that details the type of structure and property they wish to rent to an interested party. In most all cases, the rental is advertised at an unnaturally low price. This ensures the advertisement draws interest. Once a potential renter contacts the individual, they will request an upfront security deposit and will promise to send the key and legal documentation. Unfortunately, at that point, contact is lost along with the money that has been sent.

In this how-to article, you will learn the basic steps in avoiding rental property scams.

Step One:

When working to avoid rental property scams, it is important to pay special attention to structures that are being rented outside of the United States. If you are interested in renting property outside of the country, you should work directly with a certified real estate agent that can work to ensure that your investment is protected. Always verify that the agent works for an established agency.

Step Two:

Pay special attention to advertisements that are listed for rental property. You will want to avoid those that have spelling and grammar mistakes, or seem as if they have been written by someone overseas that is not fluent in English.

Step Three:

It is important to inquire about setting up an appointment to view the structure and property prior to committing to a rental agreement. If you are not able to do this yourself, have someone you trust make a personal visit to inspect the property and take pictures of both the inside and outside.

Step Four:

You should pay special attention to the instructions regarding payment. Many scammers may request that you forward them a cashier’s check or that you take the time to FEDEX the payment. It is also important to pay special attention to their level of persistence. Legitimate sellers won’t use pressure tactics to try to hurry your decision. Remember the old saying that “If it sounds too good to be true, it probably is.”

Step Five:

If you have already sent money to secure rental property, and are unable to contact the individual or company that you sent money to, or have not yet received the keys and documentation that you were told that you would receive, it is quite likely that you have been subjected to a rental property scam. At this point, you should contact the Federal Trade Commission by calling 877-FTC-HELP or by visiting their website an filing a complaint form.

To learn more about how to avoid rental property scams and other types of scams, visit the Lionheart Group blog at http://www.LionheartGroup.net.

Duration : 0:2:42

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