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Florida second highest in Foreclosure rate May 14, 2013

Posted by orlandoshortsalefl in Florida Foreclosure, Foreclosure, Foreclosure in Orlando, orlando foreclosure, Orlando pre foreclosure, Orlando Short Sale, Orlando short sales, short sale, short sale realtor, Stop foreclosure.
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The following information and chart is from realty trac.

Florida foreclosure starts dropped 27 percent from March to April, but for the second month in a row the state posted the nations’ second highest foreclosure rate: one in every 363 housing units with a foreclosure filing.

Although the state’s foreclosure starts decreased annually for the second straight month, scheduled foreclosure auctions in Florida increased 55 percent from a year ago in April — the fourth straight month with an annual increase in scheduled foreclosure auctions. Florida REOs in April increased 9 percent from a year ago, and the state has posted annual increases in REOs in 15 of the last 16 months.

Florida number 2 after Nevada for Underwater homeowners

Florida number 2 after Nevada for Underwater homeowners

Five Florida cities posted foreclosure rates in April that ranked among the nation’s top 10: Ocala at No. 2 (one in every 225 housing units with a foreclosure filing); Miami at No. 3 (one in every 269 housing units); Orlando at No. 4 (one in every 287); Jacksonville at No. 7 (one in every 345 housing units); and Tampa at No. 9 (one in every 384 housing units).

These stats are quite alarming as the rest of the nation seems to be recovering and we are still experiencing record foreclosures. So while the starts are decreasing the auctions are on the rise. I realize we need to get the foreclosures out of the way to recover, however the main stream media is not reporting these stats. With one in every 287 homes in Orlando being in Foreclosure.

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. At Asset One Realty, Wendy and I have this knowledge and we have the documentation to back it up. Remember foreclosure is the last resort. Contact us at our Web Site or Short Sale Answers this site has videos of the 5 most asked questions regarding a short sale and video testimonials from our clients. Email us direct at paganorealtor@gmail.com or assetonebroker@gmail.com

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Summerlin Winter Park Florida we have Cash Buyers June 14, 2012

Posted by orlandoshortsalefl in Bank of America, Bank of America short sale, Citi short sale, HAFA, Orlando Short Sale, Orlando short sale Realtor, Orlando short sales, short sale investment property, short sale realtor, Stop foreclosure.
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WE HAVE CASH BUYERS FOR  SUMMERLIN AT WINTER PARK CONDOS

Dear Property Owner of Summerlin Condos at Winter Park:

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 Summerlin at Winter Park Condos located in 32792.  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 Summerlin at Winter Park.

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: www.OrlandoFLShortSaleCenter.com

We guarantee that we will get your Short Sale approved. Visit www.orlando-shortsale.info for videos on your Short sale Questions

Sincerely,

Wendy Golding

Broker/Realtor/Owner Asset One Realty, Inc.

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. At Asset One Realty, Wendy and I have this knowledge and we have the documentation to back it up. Remember foreclosure is the last resort. View our happy clients testimonials at our web sites, Contact us at our Web Site or Short Sale Answers this site has videos of the 5 most asked questions regarding a short sale.  like us on Facebook and view our homeowner help video. Email us direct at paganorealtor@gmail.com or assetonebroker@gmail.com             Click here for your free E-Book

Visconte Condos we have Cash Buyers June 14, 2012

Posted by orlandoshortsalefl in Bank of America short sale, Citi short sale, Citibank short sale, HAFA, Orlando Short Sale, Orlando short sale Realtor, Orlando short sales, short sale investment property, short sale investor, Stop foreclosure, Wells Fargo short sale.
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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 three ways to reach us: email:  paganorealtor@gmail.com

Scott’s Cell Phone 407-427-4763 or Office Phone 407-299-1888 web: http://www.OrlandoFLShortSaleCenter.com

We guarantee that we will get your Short Sale approved. Visit www.orlando-shortsale.info for videos on your Short sale Questions

Sincerely,

Scott Pagano

Realtor with Asset One Realty, Inc.

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. At Asset One Realty, Wendy and I have this knowledge and we have the documentation to back it up. Remember foreclosure is the last resort. View our happy clients testimonials at our web sites, Contact us at our Web Site or Short Sale Answers this site has videos of the 5 most asked questions regarding a short sale.  like us on Facebook and view our homeowner help video. Email us direct at paganorealtor@gmail.com or assetonebroker@gmail.com             Click here for your free E-Book

Short Sales on Investment Properties October 31, 2010

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, short sale investment property, short sale investor, short sale realtor, Stop foreclosure.
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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 http://www.scottnwendy.com or paganorealtor@gmail.com

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

Short Sale and Divorce October 30, 2010

Posted by orlandoshortsalefl in Florida Foreclosure, Foreclosre, Foreclosure, Foreclosure in Orlando, HAFA, orlando foreclosure, Orlando pre foreclosure, Orlando real estate, Orlando Short Sale, Orlando short sale Realtor, Orlando short sales, short sale, short sale realtor, Stop foreclosure.
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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.

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 http://www.scottnwendy.com or assetonebroker@gmail.com

scan to our web site

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

Home Affordable Foreclosure Alternatives Program (HAFA) April 10, 2010

Posted by orlandoshortsalefl in Florida Foreclosure, Foreclosre, Foreclosure, Foreclosure in Orlando, HAFA, orlando foreclosure, Orlando pre foreclosure, Orlando real estate, Orlando Short Sale, Orlando short sale Realtor, short sale, short sale PMI, short sale realtor, Stop foreclosure.
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This is my take on the HAFA or Home affordable Foreclosure Alternatives Program. I have read the 45 page document and there have been some changes already since the December announcement. 

To qualify for HAFA the home must be your primary residence, not a second home or investment property. Also your first mortgage must be under $729,750 and you must be in default or be close to default. Also your monthly mortgage payment must exceed 31% of your income. Lastly the loan must have originated before January 2009. 

Now the big thing everyone is talking about is the banks have to approve the short sale in 10 days. Good luck with that. The banks have 10 days to accept or decline the offer that is reality. The banks will set a minimum offer they will take up front. I will guarantee this will be above Fair Market Value. Then they will go back and forth until they get the offer they want. This will take 30 to 60 days or more with all the counter offers. 

What do the banks get out of this. Well it is a voluntary program the banks do not have to do HAFA. The first lender can give up to 6% of the seconds loan balance or $6,000 total. The first lender will get $1,500 from the Government for doing HAFA and an additional 1$ for every 3$ they pay to the second lien. 

The homeowner gets $3,000 moving expenses and a full release from the first, second and PMI/MI companies. This means no deficiency judgement, no promissory note and no cash contribution. A full release of liability for the debt. Wow that sounds great, hunh? To the homeowner yes to the banks HELL NO. This means on a S200,000 mortgage lets say the short sale is $100,000. The bank is going to eat $100,000. Yea I’m sure the banks are going to line up for this. This is going to be the tough part of HAFA. 

Also don’t forget all lenders 1st, second and MI/PMI companies have to sign off on this. The bank can also require the homeowner to pay 31% of his or her income as a mortgage payment to the bank while the short sale is being negotiated. 

So I would like to know what you all think. Down here in Florida its Y’all think. Are the banks going to be able to handle this additional loss? Do you think they want to give up their right to a deficiency judgement? What about the PMI/MI company no more prom notes? It will be interesting to see how this plays out. 

One last thing if the banks won’t do HAFA don’t worry a short sale is still better for them than a foreclosure any day of the week. Just make sure 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

Regions Bank Mortgage Short Sale March 12, 2010

Posted by orlandoshortsalefl in Florida Foreclosure, Foreclosre, 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, Regions bank mortgage short sale, short sale, Stop foreclosure.
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I wanted to update everyone on my latest dealing with Regions Bank. They are awesome to work with. Regions and Wells Fargo should teach the rest of the industry how to do short sales effectively. 

First of all with Regions bank you must show you have a hardship. The hardship letter must be written and signed and we must send the bank the listing agreement, financials and authorization letter. This is the same for all lenders except for one thing. With Regions bank you get a real live person to speak to. The faxes are imaged within 24 hours. This blows away the rest of the banks by far. 

Next you will get a negotiator assigned in less than 30 days. This is my second time with Regions and the negotiator was assigned in less than 30 days. WOW! This is unheard of for a short sale. Regions has it down when it comes to getting the file closed. 

I also want to add the negotiator will actually answer their phone. This is also not a normal thing with these banks. If you have a Regions Mortgage consider yourself one of the lucky few. If you are in Florida we can list your house and get you started with this process. One last very important thing, do not wait until it is too late, because regions bank does foreclose if they have no other option. 

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

PMI and Promissory note on short sale March 11, 2010

Posted by orlandoshortsalefl in FHA and MI short sale, Mortgage insurance and short sales, Orlando Short Sale, PMI, PMI and promissory note, Promissory note, short sale PMI, Stop foreclosure.
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I have been asked this question three times this week so I wanted to post my experience with PMI and a short sale. Don’t let any agent tell you that PMI is a deal killer, In my experience it is NOT. 

First of all not all of you will have Private mortgage insurance (PMI)on your loan. FHA is called Mortgage Insurance (MI). This only applies to the first lien. I ask each and every client if they have PMI. If your agent does not ask you, make sure you tell them. 

The reason this is important is PMI can hold up a short sale just like a 1st or 2nd mortgage can. Also make sure the agent does not make a big deal out of this with the bank. Why, because I have had clients with PMI and the PMI company did not ask for a thing and we closed.  Another little know fact with the PMI company, they will negotiate if asked. 

Most agents do not know enough to ask or when they are confronted with a promissory note they say OK. Wrong answer, I always get my clients the best possible terms and outcome for a short sale. This is what experience will get you. I have negotiated with the PMI companies with a favorable outcome each time. 

Most likely if they ask for a promissory note they will not back down on getting one. However they will negotiate the note down. The note is usually 0% for blank number of months. The months can be negotiated as well. The PMI company will pay out to the first lender so they want some money back from you. 

This next part is not tax or legal advice. I always recommend my clients speak with an accountant or attorney. I will however give you my opinion, I am not recommending this either, OK here goes. A promissory note is unsecured debt just like a credit card. The lender has released you from the mortgage as this was a secured debt. If you take the promissory note and pay on it for a while. You could and again I am not recommending this but you could re-negotiate the amount with the holder of the prom note. I know of some people who have done this successfully. Disclaimer, I am not giving you tax or legal advice. Just a thought… 

If you have a short sale in Florida I can and will negotiate the PMI as well. We will need to list your home and if needed contact the PMI lender to negotiate. If you hire another agent make sure they have negotiated PMI. This is not the same as a negotiation with the bank. The PMI lender may also want to speak with you as the homeowner. Before you agree to anything talk to your agent, and or your attorney. 

 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

Wells Fargo short sale March 9, 2010

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, Wells Fargo short sale.
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I wanted to let everyone know of my most recent Wells Fargo short sale approval. The closing was smooth and the negotiator was professional. This is by far the best bank to work with next to Regions Bank. The process is still efficient however they have become slower assigning a negotiator. My clients are still able to send in their own financials, this is a plus for some.

The assignment of the negotiator can only be due to the high volume of short sales they are processing. Also I now have to call multiple times to request a BPO or appraisal to be done. In the past this was ordered without me calling.

If these are the only downsides to Wells Fargo, I will take it. I now have various contacts within the bank. This is always a plus when you are trying to negotiate the short sale. If you are in Florida and have a Wells Fargo loan, I can list your home and help you get the short sale approved.

When you hire an agent ask them to show you their approval letters or some of their closed short 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 1-866-647-8425 EXT 104

FHA Short Sale November 30, 2009

Posted by orlandoshortsalefl in FHA short sale, 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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Short sales and FHA, just how do they work? Part 1, the Value  

My husband and I get asked this question quite a bit. As you know FHA is a federally insured loan, so when it comes to FHA short sales you’re going to need an expert.  I am going to do the process in steps because the FHA Short Sale is very complex but completely doable. So make sure you check back tomorrow for Part 2.  

The first step would be to come up with a value for you home. This is a realistic price that will appraise and sell. This takes experience and skill. Here are things you shouldn’t do when seeking the value of your property. Don’t count on values from Zillow.com this doesn’t work nor will comparing a newly built home to your home.  Some home sellers ask a Realtor Relative or another Realtor they know for the value. The challenge with asking Realtors with little or no experience in short sales is they may not know how to arrive to the final value.  

Comparable’s are based on properties proximity, similarity, GLA (gross living area), bedroom count, age and amenities. As your Agents Scott and I prepare our own “BPO” Brokers Price Opinion Report before your property is listed. We work together, discuss and compare our values before we come to our final price.  Remember this price may have to be defended once the Lender has their individual Appraisal or BPO done.    Don’t worry we are ready willing and most capable of defending our values.

Scott and I have been completing these values for the Banks for over two years. Doesn’t it make sense to work with Realtors with this kind of experience?  Check back tomorrow for Part 2.

Remember Foreclosure is the last resort. Contact Scott and Wendy today at paganorealtor@gmail.com   and www.scottnwendy.com   or 24 hour recorded info line 1-866-647-8425 EXT 104