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Bank of America Short Sales in Orlando August 30, 2009

Posted by orlandoshortsalefl in Foreclosre, Foreclosure, Foreclosure in Orlando, orlando foreclosure, Orlando pre foreclosure, Orlando real estate, Orlando Short Sale, Orlando short sale Realtor, Orlando short sales, short sale, Stop foreclosure.
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I had posted on this a few months back when the switch from Countrywide to Bank of America happened. Well the news is not all good. This bank is still the slowest one to work with. Approvals to closing are still taking 5 months. There imaging system needs to be upgraded due to tremendous volume.  The imaging system converts your fax to a PDF file for the negotiator. Which brings me to my last problem, getting a negotiator assigned.

The file I spoke about in my last post is closing on Friday. This is the one that was turned down and re-opened in the same day. I must say that getting to this point was no easy task. The setup people, these are the low level employees you will speak to every time you call in. They are programmed not to think outside of the box. This is where the system slows down to a crawl.

So how do you get past these low level people? The average agent does not have a contact at the bank. Even with my contact I still have to go with the flow of  speaking to the setup people. Once I know Bank of America has all the info they need including the appraisal/BPO, I then can email my senior negotiator and she gets the file assigned to her.

This is why you want to have an experienced short sale agent on your side. I have worked with her on multiple files and every one has closed. If you have a Bank of America loan in Orlando I can help you. The time to get all the docs in place will still be slow, however the outcome will be positive. I must say my negotiator is the only bright spot so far at BOA.

Remember foreclosure is the last resort. I can help you, even if you have a Bank of America loan. Contact me today at www.scottnwendy.com or paganorealtor@gmail.com.

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Short Sale Orlando August 16, 2009

Posted by orlandoshortsalefl in Foreclosure, Foreclosure in Orlando, orlando foreclosure, Orlando pre foreclosure, Orlando real estate, Orlando Short Sale, Orlando short sale Realtor, Orlando short sales, short sale, Stop foreclosure.
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We have just received two more bank approval letters on Friday. This is what Wendy and I work so hard for. We are happy to stop another family from falling victim to foreclosure. This is not an easy process. However the reward is well worth the time.

I realize that you may be undecided if a short sale is the right option for you. I realize this is a personal issue and not easy to discuss. I want you to know that we help people like you every day. The first step is to realize this problem will not go away. The banks have plenty of people on their side. Isn’t it time for you to have someone on yours? Any matter discussed with us is strictly confidential. We will negotiate with the bank on your behalf.

I am able to give you the list price for your home during are first contact. Wendy and I perform the valuations for the banks. We are contracted by the lenders to determine value for a specific home. This gives us an advantage to help you. Our last ten homes sold within 95% to 100% of our list price. The majority of the agents do not know how to arrive at this Fair Market Value. Because of this, the listing is either priced to high or to low. This causes the short sale to fail.

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 documentation to back it up. Remember foreclosure is the last resort. Contact me at www.scottnwendy.com or paganorealtor@gmail.com 1-866-647-8425 EXT 104

Foreclosures rise 7% in July August 13, 2009

Posted by orlandoshortsalefl in Foreclosure, Foreclosure in Orlando, orlando foreclosure, Orlando pre foreclosure, Orlando real estate, Orlando Short Sale, Orlando short sale Realtor, Orlando short sale taxes, Orlando short sales, short sale, Stop foreclosure.
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I just came across this disturbing fact from the people at RealtyTrac in California. According to their data foreclosures have risen 7% since last month and 32% from July of 2008.  “July marks the third time in the last five months where we’ve seen a new record set for foreclosure activity,” said James J. Saccacio, CEO of RealtyTrac. This is completely unacceptable for the US.

Four states account for more than half of the foreclosures in the USA. California, Florida, Arizona and Nevada. These four states alone have 57% of the nations foreclosures. My state of Florida has 1 in every 154 housing units is in some type of foreclosure.

Why does this keep getting worse? What are we going to do? Well for starters the people who receive foreclosure notices need to stop playing Ostrich. (burying their head in the sand) This will not go away by itself. The banks will foreclose on you. A short sale is your best way out from under. DO NOT let the bank take your home. I can help you out of this. You are not alone, I do understand and I will work with you.

The term short sale is now a very common term. Better to sell the house short, than have a foreclosure take your home. The banks will take less than you owe in 99.9% of the cases. This is a win win for the banks as well. The bank does not want another home. I have been a Real estate agent for 13 years and I have never seen the market this depressed.

The only way out of this is to have the banks start negotiating these short sales faster. A short sale can run from 30 days to 180 days, just to get the approval. The 180 days is just plain ridiculous. However I have seen this happen. At our current pace of sales in Florida, we have over 2 years of inventory to sell. The only way to remove some listings is to close them faster. This also requires the banks help. Hence the problem we are facing.

I have had great success in selling my clients homes as short sales. The banks will give us the approvals. However we all need to tell the banks, the government and any one else we need some help. We need you to get these homes closed faster and we will not tolerate the rise in foreclosures every month.

Remember foreclosure is the last resort. I can HELP you avoid foreclosure. contact me at www.scottnwendy.com or 1-866-647-8425 EXT #104.

Do I Qualify for an Orlando Short sale? August 10, 2009

Posted by orlandoshortsalefl in Foreclosure in Orlando, orlando foreclosure, Orlando pre foreclosure, Orlando real estate, Orlando Short Sale, Orlando short sale Realtor, Orlando short sale taxes, Orlando short sales, Stop foreclosure.
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This must be the most common question I get asked on a daily basis. You can qualify for an Orlando short sale

The answer is easier than you may think. If you can prove a valid hardship you can qualify for a short sale. The hardship can be financial, medical, job transfer, new child these are just a few. The lender wants to know why you can not pay back your mortage debt.

When you signed your loan docs you promissed to pay the balance over a specific period of time. However with the foreclosures now hitting the nation, the banks are working with you. I have not had a client turned down yet for a short sale.

This is good news for all of the Orlando home owners that are facing foreclosure. I realize you did not place yourself in this position on purpose. You could not have forseen a job loss or medical problem. I can Help you, and you do not pay anything.

The banks will pay all your closing costs and commissions. The banks do NOT want your home. They would much rather work with you and do a short sale. The banks will net more money on a short sale than on a foreclosure. The hardship letter is the first step. The second step is to call or email me.

Remember foreclosure is the last resort. I can Help you do a short sale with the bank. Contact me at www.scottnwendy.com or 1-866-647-8425 EXT 104