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Did you know that Personal Judgments can affect your Short Sale? June 7, 2013

Posted by orlandoshortsalefl in Bank of America short sale, FHA short sale, Florida Foreclosure, Foreclosure in Orlando, judgments and short sales, orlando foreclosure, Orlando pre foreclosure, Orlando real estate, orlando realtor, Orlando Short Sale, Orlando short sale Realtor, short sale, Wells Fargo short sale.
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My husband Scott who is also a Realtor works very hard and very smart. Our specialty….Short Sales of course. 

Recently Scott has been working diligently on a Short Sale due to the Pending Foreclosure Sale date. As you know when that date is set, the clock it is a ticking. By the way Scott works diligently for all of his sellers. Well the title work came back and there are personal judgments against the seller. Can these personal Judgments prevent this Short Sale from closing? The answer is:  Yes they can.

Let me explain. A personal Judgment goes against the Seller and although it’s not attached to the Home it’s attached to the person trying to sell their home which can prevent the sale unless satisfied. So let’s talk about what types of personal judgments there are.  You can have a small claims case in which it didn’t go in your favor. You may have a criminal traffic ticket that hasn’t been paid or you were sent to collections court in the Clerk of court for that ticket. You may even have a credit card you stopped paying on years ago and just never did anything about it. These are just a few examples.

Now here is what you need to know. These types of challenges can ultimately hurt your chances of selling a home, but like any challenge there is always a solution. Here are a few steps you can take to correcting a situation like this. First off, when your listing your home in a Short Sale be up front with your Realtor/Broker, tell them about these outstanding items. Remember we are trained to handle these types of challenges. You can also pay them to get them recorded and satisfied. And if this is your personal residence you can file what’s called a “Notice of Homestead”, which then has to be sent to all creditors and there’s a 45 day response period before they are no longer active.

If we know about these Judgments upfront, we can give you the information you need to make this a Successful Short Sale.  

One more thing…. We understand it may be difficult to tell us this personal information that you may feel uncomfortable but just remember we ALL have bumps in this road we call life and in the end we ALL put our pants on the same way. One leg at a time.

Hope this helps those that are reading my Blog today.

Wendy Golding

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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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

Regions Bank short sale November 5, 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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In the next few days I am going to Blog about my experience with the banks I am working with. I am hoping to give you some insight on how the different lenders short sales work from my point of view.

Regions mortgage is second only to wells Fargo for ease of use. They are superior in assigning a negotiator to the file. With Regions our negotiator was assigned within 2 weeks. All documents were faxed directly to the bank for setup.

The documents were in the system within 3 business days. This is perfect. The set up person actually contacted me by phone to let me know a bank statement was missing. This was fantastic and I only wish more lenders would take this extra step.

Our negotiator communicated by email and believe it or not by a direct phone line. The process from start to finish was under 90 days. If you are with Regions Bank you are in luck. I now have a contact at the bank who will handle our short sale.

My next post will be on Countrywide or now known as Bank of America. Not the quickest of all the lenders, however my contact is an upper level manager and Robin is awesome to work with.

Remember foreclosure is the last resort. I can help, contact me for a solution at www.scottnwendy.com or paganorealtor@gmail.com.