Getting Started On A Short Sale In The Brazos Valley
November 22nd, 2011 categories: Short Sales
When a short sale is your only option there are are some guidelines you need to follow and specific people you need to talk to. The lender/loan servicer needs to be contacted as soon as possible. When there is a situation that the payments have not been made towards the mortgage for a significant amount of time and/or there has been a Notice of Trustee Sale recorded, there is more difficulty when trying to complete a short sale. It is a good idea for the homeowner to meet with a real estate attorney and a qualified tax adviser to have a clear understanding of their individual situation.
The homeowner needs to have their information ready before meeting with the mortgage company. The homeowner needs to have an explanation ready regarding their current financial situation and demonstrate their inability to make mortgage payments. There are many short sale programs that can be found on the internet available to people looking into short sales.
Susan Hilton
- Short Sale or Foreclosure in Bryan College Station Does it Really Matter?
- Short Sale or Foreclosure in Bryan College Station Part 2
- Certified Distressed Property Expert in Bryan College Station Texas
- Do I Qualify for a Short Sale in Bryan College Station? Don’t Let Them Foreclose!
- Are You Behind in Your Mortgage Payment?
- Bryan College Station Foreclosure Specialist Helping Homeowners Avoid Foreclosures CDPE
- Certified Distressed Property Expert in Bryan College Station, Texas
| Discussion: Your Comments Please »
Aggieland let’s help keep our neighbors warm this winter!
November 22nd, 2011 categories: Buying Real Estate, Community Events, Kids, Family & Personal Stuff, Selling Real Estate, The Realtor's Life
The saying that Bryan/College Station is in a bubble is pretty true to an extent. While the rest of the country has high unemployment rates, lower retail sales, and a housing crunch, Bryan/College Station is an area that trends better than a majority of the country! I have sold more homes this year than I did last year, so I know that we aren’t hurting too bad in B/CS!
Unfortunately a lot of times we don’t realize that there are those in our community who don’t know where their next warm meal will come from, where they will sleep, or if their children will be warm enough this winter! We don’t see it a lot, but it does exist more than you could even imagine!
This year, my kids and I decided that we would like to help those who are less fortunate than the majority of us in Bryan/College Station. We have started a coat/blanket drive in Castlegate with the donations going to the Twin City Mission! What started as a small project has taken flight. My daughter and I printed out about 100 fliers and asked a few of her friends to help us pass them out in our subdivision! The kids have all gotten so into it that it has amazed me! They just light up when people ask about how to donate! Now it is on the Castlegate website and on Facebook!
It’s very simple if you want to get involved! We are taking donations at 2445 Newark Circle today from 4-6 and tomorrow 9-11 am! All you have to do is drive up to the curb and we’ll grab them from you. If that time isn’t convenient, you can call me at 979-229-0919 and we can pick them up. You can also drop them by the Century 21, Beal offices located at 404 H University Drive East at your leisure.
The kids are waiting to take your Coats and Blankets to give to the less fortunate!
We have a lot to be thankful for Aggieland, so let’s get out there and make this winter a little warmer for our Brazos Valley Neighbors!
For more information, give Farrah Spears a call at 979-229-0919
| Discussion: Your Comments Please »
After a Foreclosure How Long Do I Have to Wait to Purchase Again?
November 22nd, 2011 categories: Foreclosures, Short Sales
After a foreclosure in Bryan/College Station, Tx how long do you have to wait before you buy another home using Fannie Mae’s money? Wait…. did you ever borrow money from Fannie Mae in the beginning? Who is this Fannie Mae?
After a foreclosure Fannie Mae is telling us that you will normally have to wait 7 years before you can purchase another home using money from Fannie Mae. (See chart) Of course if there are extenuating circumstances (who knows what those could be) you could possibly get another loan in 3 years with additional requirements.
With a Short Sale the wait is substantially shorter!
Fannie Mae is a private institution that is federally backed. (seems kind of screwed up doesn’t it!) They are the LARGEST originator of home loans in the country so you really don’t want to rule them out as potential lenders.
If you have questions about which is better for you – Short Sale or Foreclosure or if you are behind in your house payments or just need to sell – CALL ME!
97-764-2100
- Short Sale or Foreclosure in Bryan College Station Does it Really Matter?
- Short Sale or Foreclosure in Bryan College Station Part 2
- Certified Distressed Property Expert in Bryan College Station Texas
- Do I Qualify for a Short Sale in Bryan College Station? Don’t Let Them Foreclose!
- Are You Behind in Your Mortgage Payment?
- Bryan College Station Foreclosure Specialist Helping Homeowners Avoid Foreclosures CDPE
- Certified Distressed Property Expert in Bryan College Station, Texas
| Discussion: Your Comments Please »
Short Sale or Foreclosure in Bryan College Station Tx Does It Really Matter to Me Part 2
November 22nd, 2011 categories: Foreclosures, Short Sales
In the previous post Short Sale or Foreclosure in Bryan College Station – Does It Really Matter Part 1 short sales and foreclosures were defined and many future issues were discussed. Part 2 is a continuation of that post.
What else needs to be considered when deciding whether to let a house go back to the bank through foreclosure or if a short sale is the best option.
- Future Employment – Credit checks are often done by employers. Remember the foreclosure will show up on the credit report while a short sale will not!
- Deficiency Judgment – This is almost always a surprise to owners whose home is foreclosed. Yes, the bank has the right to go after you for the difference between what they are owed and what they get when the sell it after expenses. And, yes this can be a lot of money!!! In a short sale this issue is usually resolved PRIOR to the sale so you don’t have a surprise debt later on.
One last issue that should be investigated with an attorney and/or tax accountant prior to the foreclosure or short sale is the “phantom tax.” The phantom tax being referenced is the forgiveness of debt tax. Normally if you have a debt (the loan not paid) and it is “forgiven” or not collected you may owe ordinary income tax on the amount not collected by the bank. I don’t know about you but having the IRS after me is one of the last things I want!
So, if you know someone who is behind in their house payments or have lost their job or had an illness or death in the family and they are not going to be able to continue making their house payments PLEASE call me and let me see what we can do to help. Even if all you do is get information you are much better off KNOWING what is coming than being surprised. Help College Station and Bryan homeowners so we PREVENT foreclosures in our cities which helps ALL our property values hold firm!
For more articles on Foreclosures and Short Sales -
- Short Sale or Foreclosure in Bryan College Station Does it Really Matter?
- Certified Distressed Property Expert in Bryan College Station Texas
- Do I Qualify for a Short Sale in Bryan College Station? Don’t Let Them Foreclose!
- Are You Behind in Your Mortgage Payment?
- Bryan College Station Foreclosure Specialist Helping Homeowners Avoid Foreclosures CDPE
- Certified Distressed Property Expert in Bryan College Station, Texas
| Discussion: Your Comments Please »
Saving Energy with Nansulate
November 21st, 2011 categories: Buying Real Estate, Home Improvement & Design, Real Estate News
I found a great Home Improvement Idea that won’t break the bank!!
Your first question when you read the title is probably; “What is Nansulate® ?” Here is the simple definition from the manufacturer….”Nansulate® Crystal is a patented, one-of-a-kind, clear thermal insulation coating for concrete or clay tile roofs, slate roofs and asphalt or wood shingle sloped roofs that lowers your energy bill and keeps your roof looking beautiful and new.” 
I ran across this website while looking for a roofing product to seal roofs that have a small hole or something simple. This is what I found. At approx. $85/gal, the initial cost is a little hard to swallow, but the end benefit is reported to be great!
Zoom in on the shingle….can you see the difference? It seals all the granules and makes the roof able to withstand high winds and hard rain.
The manufacture states that the average energy savings after 3 years is 46%. Click here for the case study.
We are in Central Texas, Brazos Valley, College Station/Bryan. What affect would it have here? I found a case study in Dallas!!!!
Look at the Attic Temps!!!
It is a totally Green product that falls in line with Aggie values and what everyone should be thinking about when looking to the future!!
This would be a great opportunity for home owners to make their house more energy efficient and if you have your house listed, it would definitely be more appealing to buyers. I know my buyers would be definitely move faster on a house that is more energy efficient.
If you have any questions about this or any questions on the market here in Aggieland, feel free to contact me!
| Discussion: Your Comments Please »
Bryan College Station Foreclosure Specialist Helping Homeowners Avoid Foreclosures CDPE
November 18th, 2011 categories: Foreclosures
SUSAN HILTON Earns Real Estate, Short Sale Designation to Help Homeowners in Danger of Foreclosure
College Station, Tx – November 16, 2011 – SUSAN HILTON of CENTURY 21 BEAL, Inc. of College Station, Tx has earned the prestigious Certified Distressed Property Expert® (CDPE) designation, having completed extensive training in foreclosure avoidance, with a particular emphasis on short sales. At a time when millions of homeowners are struggling with the possibility of foreclosure, the skills and education amassed by HILTON will help benefit Bryan and College Station -area residents and communities.
Short sales allow the distressed homeowner to repay the mortgage at the price that the home sells for, even if it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.
Today, more than 13 percent of homeowners are delinquent on their mortgage or in the foreclosure process. This is occurring across all price ranges, and the fastest-growing category of homes in foreclosure is the luxury home market.
“The CDPE designation has been invaluable as I work with homeowners and lenders on complicated short sales,” said HILTON. “It is so rewarding to be able to help families save their homes from foreclosure.”
Alex Charfen, co-founder and CEO of the Distressed Property Institute in Austin, Texas, said that agents such as SUSAN HILTON with the CDPE Designation have valuable perspective on the market, and training in short sales that can offer homeowners real alternatives to foreclosure, which can be devastating to credit ratings.
“These experts better understand market conditions than the average agent, and can help sellers through the complications of foreclosure avoidance,” he said.
The Distressed Property Institute provides live and online courses to train real estate professionals how to help homeowners in distress, with a strong focus on handling short sales.
“Our goal is to help as many homeowners as possible, by educating as many real estate professionals as possible,” Charfen said. “SUSAN HILTON Read the rest of this entry »
| Discussion: Your Comments Please »
