Orlando short sale Blog

Bermuda Dunes Orlando Short sale

orlandoshortsalefl — Mon, 02 May 2011 14:56:33 +0000

WE HAVE CASH BUYERS FOR BERMUDA DUNES

Dear Property Owner of Bermuda Dunes:

My Name is Wendy Golding, Broker/Realtor/Owner of Asset One Realty, Inc. My husband Scott Pagano and I work primarily with Distressed Home Sellers, these are Short sales.

As many you may be aware the housing crisis has hit Orlando Florida very hard. For some of us who have invested in the peak of the boom we are facing defaults and foreclosures.

There are options out there for you. Right now Asset One Realty, Inc. has qualified Buyers for Bermuda Dunes located in Orlando 32835. These are cash buyers who are very eager to own at this location.

Scott and I have negotiated many Short sales for Investors and would like to assist you with yours. Now is the best time we have Cash Buyers waiting for Condo’s at Bermuda Dunes.

Please contact us today, there are three ways to reach us: email: assetonebroker@gmail.com

Wendy’s Cell Phone 407-470-3894 or Office Phone 407-299-1888
Web Site

We guarantee that we will get your Short Sale approved. Visit Video Web Site for videos on your Short sale Questions

Sincerely,

Wendy Golidng

Broker/Realtor/Owner Asset One Realty, Inc.

ASSET ONE REALTY INC. is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.

If you stop paying your mortgage, you could lose your home and damage your credit rating.

Visconti Maitland Short Sale

orlandoshortsalefl — Mon, 02 May 2011 14:53:42 +0000

WE HAVE CASH BUYERS FOR VISCONTI

Dear Property Owner of Visconti:

My Name is Scott Pagano/Realtor with Asset One Realty, Inc. My wife Wendy Golding and I work primarily with Distressed Home Sellers, these are Short sales.

As many you may be aware the housing crisis has hit Orlando Florida very hard. For some of us who have invested in the peak of the boom we are facing defaults and foreclosures.

There are options out there for you. Right now Asset One Realty, Inc. has qualified Buyers for Visconti located in Maitland FL. These are cash buyers who are very eager to own at this location.

Wendy and I have negotiated many Short sales for Investors and would like to assist you with yours. Now is the best time we have Cash Buyers waiting for Condo’s at Visconti.

Please contact us today, there are four ways to reach us: email: paganorealtor@gmail.com

Office Phone 407-299-1888 Direct:407-427-4763 Web site
We guarantee that we will get your Short Sale approved. Visit Video web site for videos on your Short sale Questions

Sincerely,

Scott Pagano

Realtor with Asset One Realty, Inc.

If you stop paying your mortgage, you could lose your home and damage your credit rating.

Equator Bank of America

orlandoshortsalefl — Thu, 24 Mar 2011 15:21:50 +0000

We have now completed multiple short sales with the equator system. I will have to say BofA is now my favorite bank to work with. I still can’t believe I just wrote that. I was around when we had to fax BofA 4-5 times just to get the documents imaged. Well that has all changed for the better since Equator.

This systems allows me to upload all documents from the computer direct to the bank. The tasks are assigned as soon as we initiate the short sale. The first task is 3rd party authorization which allows me to speak to the bank on your behalf.

The next section is the offer worksheet which is very similar to your HUD-1. The numbers will show BofA their net on the short sale. Make sure your agent knows how to read a HUD-1 as these numbers must be accurate the first time.

After this usually within 24-48 hours you will have another task assigned to upload the MLS sheet, Purchase contract, HUD-1, property photo and MLS number. This is all done within the first 3-5 days. WOW! This document collection in the past would have been 4-6 weeks if not longer.

Now they will order the BPO for the valuation stage of the process. This is a good time to have the homeowner upload his documents. Pay stubs, bank statements, tax returns, hardship letter and financial worksheet. For my clients I upload all of these documents into the library under the tasks bar, upload supporting documents section.

The valuation stage moves fairly quick, I have actually had the BPO ordered within 3 days from this task assigned. The value comes in within a week. Now we move to my favorite part the negotiator. Again I am still shocked because old BofA would take months to get to this stage. Good job Bank of America for using Equator.

The negotiator will counter the first offer, ALWAYS. You do NOT have to accept the counter offer, you can counter the offer which we have done successfully every time on every file. They will usually ask for a price increase from the buyer and a prom note or cash contribution from the seller. This is the part where you want an experienced agent on your side with contacts at the bank in the VP, SVP position if needed. Wendy and I have these contacts and if necessary we will reach out to them if the negotiator is being unreasonable.

So thats it, the last file we had after countering 2 times the offer was approved within 27 days. 27 days, no that is not a misprint. I will say again BofA is my favorite bank to work with since the Equator system happened.

Short Sales on Investment Properties

orlandoshortsalefl — Sun, 31 Oct 2010 15:11:41 +0000

So here is the story, you have a rental property but you live out of state, out of country or just out of town. The Tenants stopped paying Rent so you had to go through the eviction process long distance. You finally get them evicted. However now after months of them not paying rent led to the financial strain on your Bank account. You’ve had to pay the mortgage and the HOA . Only to find out that the Tenants moved back in again. Brace yourself folks you have Squatters.

You’re asking yourself is this possible and the answer is “Oh it be Possible”. What happens is they leave a window or the garage door unlocked so they can get back in the home.
Here are some preventative measures you can take once the eviction process is complete.
1. Get the locks changed.
2. Call the utility companies to make sure the electric and water is turned off.
3. Contact your neighbors next to your investment property; ask them to keep an eye out for any activity.
4. Contact your Home Owners Association and let them know the Tenants have been evicted and the property is now vacant.

So let’s say the house is secure and squatter free, what are your options. The strain of no rental income has caused you financial hardship and it is becoming increasingly difficult to keep up with your own mortgage.
Here are some options to consider.
1. Find another Qualified Renter quick.
2. Loan Modification of your current mortgage or mortgages.
3. Sell as a Short sale.
4. Deed in Lieu of Foreclosure.
5. Foreclosure.

If you choose Short sale as your option, we would be happy to help you. There are no fees for our service all commissions are paid directly from your Lenders.
This is what you can expect from Asset One Realty, Inc.
1. We’ll help you get the locks changed and we’ll meet the locksmith out there or do it ourselves.
2. We’ll make contact with your neighbors to keep your property squatter free.
3. We’ll list and market your property to sell.
4. We’ll contact your lenders on your behalf and facilitate the Short sale. Our final goal is to complete the sale.

We have had this scenario on several of our listings. It’s very stressful when you have so much distance from you to your property. Let us help you.
When you hire an agent ask them to show you their approval letters or some of their closed sales. You want to have an expert on your side. Wendy and I have this and we have the documentation to back it up. Remember foreclosure is the last resort. Contact me at www.scottnwendy.com or paganorealtor@gmail.com

Wendy Golding/Asset One Realty, Inc. Licensed Real Estate Broker 407-299-1888

Short Sale and Divorce

orlandoshortsalefl — Sat, 30 Oct 2010 17:12:15 +0000

Who gets what? Where will the kids stay? Will I have to have enough money to move? What about the house? These are all the questions that you’ll be asking yourself when going through a Divorce.
Short sales and Divorce can be trying times there is no way to sugar coat it. What may help you is to have an experienced Realtor handle the Short sale for both of you. My goal is to stay true to both parties and complete the task of the Short sale.
In my most recent Short sale the couple was going through an emotionally difficult divorce. It was very hard for them and I wanted to make sure that I handled as much as I was allowed during the process to release some of their burden.
In the beginning of our process there were late night calls of worry and unexpected twists and turns. I would find that one party would be reluctant to provide me with documentation or signatures while the other party was very anxious. After speaking with them both, I found that the reluctant party just needed to vent and the anxious party was just scared. I stayed true to each of them and just listened. Divorce is never easy for anyone, and then add the Short sale of your home into the mix and you have a lot of emotion.
As time went by the calls were fewer and my requests were filled quickly. This is when I realized they really did trust me and I would do everything I could to keep their trust and remain loyal to both of them.
When it came time to close it was seamless! No hic ups, no twists or turns, just complete cooperation from both parties.
I am happy to say that Mr. and Mrs. Are both moving on with their lives and have had a large portion of worry lifted from their shoulders due to their Short sale being completed.
Every situation is different and each person involved has needs that are different. If your in a similar situation but aren’t sure how to go about executing your Short sale while going through your divorce, call me. I’ll be happy to answer your questions and assist you during this tough time.

scan to our web site

Sincerely,
Wendy Golding/Asset One Realty, Inc. Licensed Real Estate Broker 407-299-1888

Tax Credit Extended

orlandoshortsalefl — Thu, 01 Jul 2010 14:15:28 +0000

The Senate and the House have sent the bill to the President to be signed. the tax credit extension is now until September 30, 2010. This is for all contracts that were in place as of April 30, 2010. This is a major victory for all the homebuyers who from no fault of their own had been waiting to close.

Congress has also passed the National Flood Insurance Program Extension Act of 2010. This will allow transactions to move forward. The bill is retroactive and covers the lapse period.

My thoughts on this are very positive for the housing market. However maybe next time our House and Senate will not wait until the last minute to do something. I won’t hold my breath but it sure would help.

When you hire an agent ask them to show you their approval letters or some of their closed sales. You want to have an expert on your side. Wendy and I have this and we have the documentation to back it up. Remember foreclosure is the last resort. Contact me at www.scottnwendy.com or paganorealtor@gmail.com or you can use my 24 hour recorded info hotline 1-866-647-8425 EXT 104. Also check out this site I created for a report on the top 10 scams for homeowners facing Foreclosure. www.stopthephonecallsorlando.com

Tax Credit from Florida Realtors

orlandoshortsalefl — Tue, 29 Jun 2010 23:08:54 +0000

I usually summarize the news from the Florida Realtors® News. However in this case I want you all to read this word for word as I could not have put it better. Our government as usual has waited until the final hour to approve the tax credit deadline as well as the missing the deadline on the flood insurance. This is going to cause major problems with over 100,000 home buyers throughout the USA. I have already written to the Senate and the House members. I would advise and urge everyone to do the same. In my opinion this is an outrage for all of us. We need to let our voices be heard.

Tax credit demise threatens closings

WASHINGTON – June 29, 2010 – According to the National Association of Realtors® (NAR), up to 180,000 homebuyers will lose their federal homebuyer tax credit through no fault of their own if Congress fails to pass an extension by June 30 when the closing deadline expires.

Included in that number are thousands of homebuyers in every state of the union, from 390 in Wyoming to 17,700 in California, according to estimates by NAR. In Florida, 14,830 homebuyers could lose the tax credit if closings are delayed.

“We are strongly urging the Senate and the House to act quickly to pass this legislation and ease the minds and pocketbooks of these homebuyers,” said NAR President Vicki Cox Golder.

“These are not buyers who just entered into the market. These are buyers who previously met all the qualifications for the tax credit, but find themselves at the mercy of a workflow jam with lenders or other delays such as lapses in the National Flood Insurance Program, Rural Housing Service, and new home construction, and might not be able to complete the purchase of their homes by the current deadline,” said Golder. “It would be a tragedy for them not to be able to complete the purchase in time to claim the credit.”

NAR issued the following state-by-state estimate of the number of home sales that would be delayed beyond the June 30 deadline; numbers are rounded to the nearest 10:

Alabama, 2,590
Alaska, 830
Arizona, 5,440
Arkansas, 2,090
California, 17,700
Colorado, 3,390
Connecticut, 1,770
Delaware, 400
District of Columbia, 300
Florida, 14,830
Georgia, 6,270
Hawaii, 710
Idaho, 1,270
Illinois, 7,030
Indiana, 3,560
Iowa, 2, 030
Kansas, 1,840
Kentucky, 2,540
Louisiana, 1,800
Maine, 840
Maryland, 2,630
Massachusetts, 3,930
Michigan, 6,470
Minnesota, 3,760
Mississippi, 1,530
Missouri, 3,600
Montana, 760
Nebraska, 1,110
Nevada, 3,800
New Hampshire, 690
New Jersey, 4,300
New Mexico, 1,160
New York, 9,190
North Carolina, 4,890
North Dakota, 460
Ohio, 8,510
Oklahoma, 2,760
Oregon, 2,090
Pennsylvania, 5,830
Rhode Island, 500
South Carolina, 2,460
South Dakota, 500
Tennessee, 3,910
Texas, 15,340
Utah, 1,130
Vermont, 400
Virginia, 3,890
Washington, 3,190
West Virginia, 940
Wisconsin, 2,690
Wyoming, 390

Citibank Short sale

orlandoshortsalefl — Wed, 16 Jun 2010 23:22:14 +0000

Short Sales with no deficiency Judgment for you.

Well it’s official I am a Rock Star!

So here is how the story goes….. I have this seller that no other Realtor we’ll call them musicians would take due to it’s size, by the way it is my most humble of sales/scores. As a matter of fact 4 other Realtors/musicians turned it down because it was so low. After the sellers we’ll call them the promoters, sang me their song I took the listing and started my short sale tour.

This particular Short Sale was with Citi, so we’ll call this my Citi Tour. On my Citi Tour I encountered several Roadies who were grumpy, tired and possibly hung over. It took me forever to set the stage for a very low budget concert. My lead Guitarist, we’ll call her the negotiator wouldn’t talk to me….ever, she would only email me.

Now I understand it’s hard to get a lead guitarist but we have to communicate…right? Anyway I had to go to her Manager, we’ll call him the Boss to get things moving. Funny how the Boss can always make things happen. One of our biggest challenges was the value from the appraisal. This came in much too high. The appraiser we’ll call him the Ticket Master apparently got his values from sales from 2005. Naturally I had to fight this. It’s really hard to orchestrate my Citi tour when so many of my Band Members are not on the bus.

Needless to say I had to do my own BPO, we’ll call this my Ballad. My Ballad had everything from heartache to distress but ended very Happy. My Ballad was so good even My lead guitarist agreed. In fact she decided to record it with her seal of approval. The best part was there was no deficiency judgment or Promissory note from my Citi Tour, just satisfied promoters and dedicated groupies.

Long live Rock! Wendy The Rock Star

Short Sales and PMI

orlandoshortsalefl — Wed, 09 Jun 2010 21:06:24 +0000

Do you ever wonder if the person on the other end of the phone or email has a heart? Are these negotiators vampires just trying to suck more blood out the distressed home seller and Realtors. The answer is…Yeah sometimes they are. I consider myself a fighter or in this case a Vampire slayer but when fighting doesn’t work I have to find other avenues to make these impossible short sales go through.

This was the case on my latest Short Sale. The sellers really have had a hard time and the Negotiator was tough. First I couldn’t get her to communicate with me so I had to go over her head to get a call. Hence the beginning of the “Fight”. Well that just pissed her off and she was even more ravenous for her ounce of blood. She told me, “We’re not paying that, we won’t do that, you’ll have to take that out, change your commission, we’re going to need a promissory note.. yada yada yada.

Ok, so I was starting to get the picture that she was in it to win it. What she didn’t know was So was I. I knew I had to move quick if I was going to get my stake into her heart. So the next time she called me I kept her on the phone for at least 30 minutes. We talked about her, where she lives and her family. Then we chatted about the documents she needed from my clients. I kept mentioning key facts that were relevant to the file, values, depreciation….. all the time getting her to respond and engage in a solution. At the end of the conversation she said she was going to make sure the PMI company knew what we were discussing. The outcome was favorable, we received our approval today with no promissory note and favorable conditions. It turns out that my Negotiator wasn’t a Vampire at all, just a tired, overworked and nice lady.

My point is if we start to engage in the Human Touch we will find that there may be a Real Person on the other end of the phone and not just another Nosferatu. Wendy the Vampire Slayer.

Short Sale PDF editor for agents

orlandoshortsalefl — Fri, 04 Jun 2010 22:59:41 +0000

I wanted to let you know of a great tool I have found for editing PDF files. The software is called INfix from Iceni technology. As a REALTOR® who handles a lot of short sales this tool is a must. No more handwriting and printing out documents.

How many times have you had to handwrite the loan number on all your contracts? That is after you print out the contract, write the loan number and then scan and fax the document. With INfix you open any PDF document on your computer. Open a text box and write the loan number directly on the document with your computer. No need to print it out and then re-scan.

Now my next bit of good news. This software will allow you to fill in PDF forms and it highlights the areas for you to fill in. This is great for contracts and addendums that I would have had to print and hand write, then re-scan. No more wasting paper, keep it all in the computer and email or efax them.

The last part is try it before you buy it. You can download it for free and test it for yourself. After you try it you will buy it. This is a great time-saving tool for real estate agents. Give it a shot.