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Banks Offering Incentives to Sellers in Short Sales

Banks Offering Incentives to Sellers in Short Sales

If you or someone you know is facing the loss of their home you should know that lenders are now, more than ever, offering incentives to Sellers to complete a short sale. Homeowners should speak with their lender to see which programs they qualify for.The most common incentive program is HAFA. Sponsored by the government, HAFA will give eligable homeowners $3000 at closing to help with moving and other expenses. It also protects the Real Estate Professional's commission and forgives the Seller of the debt. The homeowner will receive a 1099-C for tax purposes.

For individuals not eligable for HAFA some lenders are offering alternatives. One example of this is Bank of America's co-op program for sellers. They will allow up to $2500 to the Seller at closing to help with expenses.

Foreclosure Crisis, Homeowners Seeking Help Too Late

We are in the midst of a knowledge crisis among homeowners and we are far from the end of the housing nightmare. There are far too many homeowners letting their homes become foreclosed on because of the lack of planning and proactive nature. I am seeing homeowners waiting until their home is in foreclosure before contacting the banks and, more often than not, by then it's too late. 

 

I spoke on the phone to a woman who's bank told her to stop making payments to pursue a loan modification. Two years later they have two years of missed payments added to their debt along with no loan mod! Unfortunately, this is far too common. Hope is not lost though! People in situations where they feel as if the back is against a wall need to contact professional real estate and legal help.

Clean up the mess! $60 = 2 HRS of Home Organization by Drab to Fab Organizing ($120 value)

Clean up the mess! $60 = 2 HRS of Home Organization by Drab to Fab Organizing ($120 value)

Has it been months since you've seen the surface of your dining room table? Can the kids find their homework? Do you have boxes and bags filled with things you need to return, but can't find the receipt?

Somebody Else Owns The Home You Are Living In

Somebody Else Owns The Home You Are Living In

Someone Else Owns The Home You Are Renting

Owning a home is still the American Dream. Renting is easier, but let's remember, somebody else owns the home you're renting. You are helping them achieve the American Dream and that's awful nice of you...but don't you want to achieve your own dream? You think that by renting you are saving money? You aren't. You are just paying someone else's mortgage, or at least part of it.

Wouldn't you rather invest that rent money into your own home? Let us assume that the average rent in a San Antonio Texas neighborhood for a 3 bedroom, 2 bath home is $1000. Over the period of one year (12 months), you have contributed $12,000 to a person's, whom you probably don't even know, future.

11 Questions to Ask Before Pricing Your Home

11 Questions to Ask Before Pricing Your Home
 

 

 

 

 

 

  1. Are there improvements I can make to my home — both major and minor — that could enhance the price?

Selling Season Is NOT Over

Selling Season Is NOT Over

If you have been trying to buy or sell a home and the end of the spring-summer real estate season is stressing you out, The Castles By Chrissy Team says "relax!"

Even though real estate sales do fall off at the end of warm weather, there's still plenty of buying and selling coming this fall and winter.

Remember, sales volume is not your problem. The only house you care about is the one you're selling or hoping to buy.

Real estate isn't nearly as seasonal as it used to be. If a house is priced and marketed appropriately, no matter what time of year it is, there will be a buyer for it.

What's more, many home buyers and sellers are bucking the seasonal nature of residential real estate.

Agents Unknowingly in Violation of Ethics

This is a warning to Agents and a reminder to the public to be careful who you chose to represent you in a real estate transaction. I have recently heard some stories that have taken place locally and want to send this reminder to everyone. It is a violation of the ethical requirement for licensure in Georgia to represent a buyer or seller in a matter that the Agent is unfamilliar with. 

The REALTOR® Code of Ethics - Article 1 starts: "When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client."