How Long Will I Need to Wait to Purchase Another Home After I Accomplish a Short Sale?

Posted on May 13, 2012 in Short Sale FAQs

Hello everybody, this is Mark Peek at Keller Williams Real Estate, your Rocklin short sale specialist. Today’s topic is without doubt one of the most continuously requested questions I get and that is how long will it take before I will buy another house once more after I complete a short sale? Well, the time frame for that can actually vary widely. It will probably differ from a week after I close your short sale to three years. The reason being is if you fullfill a short sale and you’re current and you have a really valid motive resembling divorce or enormous loss of revenue and one other is relocation. Especially if you’re relocating a reasonably lengthy distance around 100 miles or so, then you definately would possibly qualify for a short sale and purchase again with an FHA loan. That is one thing we’d need to pre approve before we start the process just to guantee that it’s an possibility for you.

In any other case, you’ll be able to really get hold of a brand new VA loan; for those who had an exception on that one inside a year. You may also get hold of an FHA mortgage in around 3 years after a short sale. At the end of the day what you really want to take a look at is your monetary situation. How much is your home underwater? If it’s going to take you five or six years to recuperate, then you definitely would possibly wish to think about a short sale as a manner of getting yourself back on the financial track.

Again, I’m Mark Peek with Keller Williams Real Estate, your Rocklin short sale specialist and I’m right here to help. When you’ve got any specific questions about your scenario, you can hit the start here button at the top of our website. You can also give me a call directly and I’d be pleased to follow up with you. Thank you and have a wonderful day.

For more information on short sales and how to avoid foreclosure, visit the Short Sale Specialist blog or you can also contact the Mark Peek team and get started today.

Is It Possible To Do A Short Sale With A Federal Tax Lien?

Posted on May 13, 2012 in Short Sale FAQs

Welcome everyone my name is Mark Peek at Keller William’s Real Estate, your short sale expert in the Rocklin area. Today’s topic is regarding IRS tax liens that have been attached to your home; the tax lien may have been attached in the past or is recent, but either way, it has been attached to your home loan and you need it gone so that you can complete the short sale. You could be underwater at this point, wanting to do a short sale and wondering how that will happen. Will the IRS actually negotiate that, will they remove the lien and can we move go ahead with the sale?

I can tell you that I can negotiate with the lenders, such as Bank of America, Chase, Wells Fargo, and get them to settle for less, but the IRS will not settle for less. They will, however, take into consideration the fact that you’re attempting to avoid foreclosure and will work with you in order to complete a short sale and remove the lien. They will not necessarily discount your payoff on your tax lien, but they’ll work with us to get it removed, as long as you provide the requested paperwork. There’s a lot of documentation that they require, such as a buyer’s appraisal and certificate of tax discharge documentation; essentially you have to ensure all of your financial documents are in order to get the federal tax lien removed so we can close the short sale.

If you have any particular questions or you have a situation similar to this, please call me or click Start Here at the top of the page. I would be happy to follow up with you, answer all of your short sale questions and help you with your particular situation. Again, I am Mark Peek with Keller William’s Realty in Rocklin and I’m your short sale expert for the entire Rocklin area. I anticipate working with you and meeting your short sale needs.

For more information on short sales and how to avoid foreclosure, visit the Short Sale Specialist blog or you can also contact the Mark Peek team and get started today.

Recent Success Saves Homeonwner Stack Of Cash Through Nationstar Mortgage Short Sale File

Posted on May 10, 2012 in Short Sale FAQs

Hello everybody I’m Mark Peek, your short sale specialist in Rocklin, thanks for trying out my weblog today. I work with Keller Williams Realty within the Rocklin area and use my weblog to provide distressed property house owners useful data on their choices for avoiding foreclosure.When you’ve got questions about the short sale process, or can no longer afford your mortgage, go to my web site or contact me as we speak to discuss your options.

For my blog at the moment I wanted to speak about working with Nationstar Mortgage on a short sale file and some of the current recordsdata I’ve worked with. Quite a lot of the Nationstar Mortgage’s I have worked on currently have been owned by Fannie Mae or Freddie Mac. On the newest short sale I accomplished with Nationstar my client owed four hundred and seventeen thousand dollars on their underwater mortgage. By way of negotiating with Nationstar I was capable of obtain a payoff of one hundred and seventy two thousand dollars with zero deficiencies owed by the homeowner. Having just received the approval letter for this short sale I can proudly say we had been in a position to remove two hundred and forty thousand dollars worth of debt from this homeowners name. This was a giant relief for our client and they’ll be capable to start looking for a new house in Rocklin to purchase within two to three years.

When you’ve got a Nationstar Mortgage, or any other lender, and are not sure what to do with your underwater mortgage give me a call at present to discuss your options. With years of short sale experience in the Rocklin area I’m the suitable choice for getting you out from under your distressed property. This is Mark Peek with Keller Williams Realty, thanks for your time and I hope you’ve gotten an incredible day.

For more information on short sales and how to avoid foreclosure, visit the Short Sale Specialist blog or you can also contact the Mark Peek team and get started today.

Helping Successful Short Sales with 2nd Liens Avoid Foreclosures

Posted on May 3, 2012 in Short Sale FAQs

Hello, that is Mark Peek with Keller Williams Real Estate, your Rocklin short sale specialists. Today’s subject is secondary liens on a property, particularly lines of credit. Now in case you have multiple liens on a property and you are trying a short sale, basically those a number of liens have to agree with each other on who is going to get what as a way to settle out the short sale.

I will inform you that those are extra difficult than just a one lien short sale with just one mortgage on the property. For my part, multiple lien short sales typically have the highest failure rate. Typically the explanation why it does not get authorized and closed is the second lien holders aren’t happy with the amount they are getting.

I bought a $100,000 balance on a second lien on a short sale. They settled for as little as $three,000. They will release the lien, they’ve already authorized the short sale, and after we close, the house owner just isn’t going to be accountable for the difference. They’re forgiving $ninety seven,000. It is about the way you arrange the deal. It is about expectations, having the right package deal and follow-up and knowledge of the legal guidelines, the contacts at the lenders and figuring out who the investor of that note is.

So when you have any questions in your particular short sale, or you will have a second lien holder and also you’re concerned you might not get it through, give me a call. It’s also possible to hit the start here button on the top of the webpage, enter your data and we’ll get back to you as quickly as possible.

I additionally want you to contemplate taking a look at our short sale calculator. It can make it easier to determine whether or not your private home is a possible candidate for a short sale. It also may provide you with an idea how long it will be earlier than your house may become an asset again. Once more, this is Mark Peek at Keller Williams, your Rocklin short sale specialists and we’re right here to help.

For more information on short sales and how to avoid foreclosure, visit the Short Sale Specialist blog or you can also contact the Mark Peek team and get started today.