Is It Ethical To Walk Away From Your Upside Down Debt After A Short Sale?

Is It Ethical To Walk Away From Your Upside Down Debt After A Short Sale?

Should you walk away or should you stay? Here is how to determine whether or not you should walk away from your home.

Because of the decline in the nationwide housing market, I doubt that your home is worth what you paid for it.

ImageDiscover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

First, determine the current market value of your home. Talk to a realtor. They will give you a market analysis, based on what other homes similar to yours are selling for.

For example, we recently helped a home seller who had paid around $700,000 for his home. We thought the home was worth about $400,000. His mortgage payment was a little over $4500 a month.

When you add in the property taxes and insurance his total monthly payment was around $5,300 a month. Similar homes were renting for  around $2,500 a month.

If you compared rental payments, he was way upside down on his home. We ran the numbers and saw that he was on track to repay $1,697,000 over the life of loan.

Next, let’s look at how much he would save by short selling and renting a similar house for two years. First, he would be saving $2500 a month by renting a similar home.

In addition when he bought a similar home for $400,000 then he would repay around $934,000 over 30 years. $1,697,000 minus $934,000 is $763,000.

That means he would save $763,000 in mortgage payments over the next 30 years. What can you do with $763,000? Would it make retirement easier?

You probably could completely pay for 3-4 kid’s college tuition. Most people could put 6-7 kids thru college with that kind of money.

Or, he could retire a few years early. Enjoy a little bit more of the “Golden Years. It appears that he would be doing better for himself and his family by short selling the house.

The bank was probably bailed out by the American Taxpayers. If he pays taxes, then he helped out with that bailout.

This is why I recommend that you look at all the numbers when you are trying to determine whether or not you should walk away. How much money will you be repaying over the life of the loan? Just Google “amortization calculator” and run the numbers.

Add up how much money you would be paying back with your current home and compare it to how much you would pay if you short sold, rented for two years, and bought another home after that. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at c.mrvaughn@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 813-679-3477
Find out how much your home is worth.
Free House Value   Click here*     http://instantbizsites.com/VaughnRice/house-value

ImageShort sales can drag out giving you time. It takes maybe sometimes a month to sell the house. Then, the short sale negotiations start. They can drag out for 3-6 months. So instead of foreclosure here is what you should do.

Here is a tactic you can use to delay the foreclosure process and even stop a foreclosure sale. Stop Your Foreclosure With A Short Sale  Click here *http://instantbizsites.com/VaughnRice/stop-foreclosure

Image Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at c.mrvaughn@gmail.com

I will contact you for a free consultation. Click Here *Image

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 813-679-3477 or visit at http://www.isellyourfloridahome.com/

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area.

Thanks for reading this, Vaughn Rice.

Vaughn is a Real Estate Agent at Quicksilver Real Estate Group.
E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477. Click Here*Image

One You Can Trust To Serve You

View My Office homes for sale at  http://companylistings.drshortsale.mfr.fusionmls.com/

Vaughn Rice specializes in assistance with short sales in Tamp Bay Area of Florida

Vaughn Rice, Quicksilver Real Estate Group is not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. I can offer you loan modification information.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Vaughn’s personal views and do not reflect the views of Quicksilver Real Estate Group.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area. E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477   Click Here *Image
This information on, Is It Ethical To Walk Away From Your Upside Down Debt After A Short Sale?Is provided as a courtesy to our viewers to help them make informed decisions.

Foreclosure Avoidance Question: My Homeowner’s Insurance Won’t Renew My Policy Because My Loan Is In Foreclosure

Foreclosure Avoidance Question: My Homeowner’s Insurance Won’t Renew My Policy Because My Loan Is In Foreclosure

I recently received a question from Tim. Here is Tim’s Question.

“I have an elderly friend who recently finalized a loan modification through her lender. The mortgage company shows on their website that the mod has been processed and the new terms are in effect.

ImageDiscover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

However, since foreclosure proceedings were begun before the loan mod was approved, her homeowner’s insurance holder will not renew her coverage policy, since the local Clerk of Courts records show that the loan is in a foreclosure process.

The mortgage company has not sent the Clerk of Courts notice that the foreclosure case is closed. What can she do to avoid losing her insurance coverage?”

An elderly person almost loses their home to foreclosure and manages to save it at the last minute, only to find out her insurance company wants to kick her to the curb?

Give me a break! That’s pathetic. If I had my insurance with that company, I would fire them immediately!

Here is my suggestion. The first thing your friend should do is to contact the State Insurance Commissioner and the State Attorney General.

Insurance is highly regulated. There are things that insurance companies are allowed to charge more money for and things that they are not allowed to charge more.

I doubt that paying your mortgage late is one of them. More than likely, the insurance company is breaking the insurance regulations of the state.

(This is one of the things we use when negotiating short sales. We have studied to learn all the rules and guidelines. When a lender doesn’t follow a short sale guideline, we will report them to the appropriate agency.)

If that doesn’t work, then I would recommend your friend contact the local media. That is a dastardly thing for the insurance company to do.

I’m sure that the general public would agree as well. I think the media would like the story. Thinking about a short sale?

Find out how much your home is worth.
Free House Value   Click here*     http://instantbizsites.com/VaughnRice/house-value

ImageShort sales can drag out giving you time. It takes maybe sometimes a month to sell the house. Then, the short sale negotiations start. They can drag out for 3-6 months. So instead of foreclosure here is what you should do.

Here is a tactic you can use to delay the foreclosure process and even stop a foreclosure sale. Stop Your Foreclosure With A Short Sale  Click here *http://instantbizsites.com/VaughnRice/stop-foreclosure

ImageDiscover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail atc.mrvaughn@gmail.com

I will contact you for a free consultation. Click Here *Image

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 813-679-3477 or visit at http://www.isellyourfloridahome.com/

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area.

Thanks for reading this, Vaughn Rice.

Vaughn is a Real Estate Agent at Quicksilver Real Estate Group.
E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477. Click Here*Image

One You Can Trust To Serve You

View My Office homes for sale at  http://companylistings.drshortsale.mfr.fusionmls.com/

Vaughn Rice specializes in assistance with short sales in Tamp Bay Area of Florida

Vaughn Rice, Quicksilver Real Estate Group is not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. I can offer you loan modification information.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Vaughn’s personal views and do not reflect the views of Quicksilver Real Estate Group.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area. E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477   Click Here *Image
This information on, Foreclosure Avoidance Question: My Homeowner’s Insurance Won’t Renew My Policy Because My Loan Is In Foreclosure. Is provided as a courtesy to our viewers to help them make informed decisions.

Short Sale Question: Getting divorced. Can’t Afford Home. What Should I Do?

Short Sale Question: Getting divorced. Can’t Afford Home. What Should I Do?

I recently received a question from Katie. “My spouse and I are getting a divorce. Unfortunately neither of us can afford the house on our own.

So, we have to get rid of it one way or another. The big problem is that the house has dropped in value since we bought it. I think it is worth around $400,000 and we owe about $600,000.

I am curious about what options we have. What do you think we should do? Katie.”

ImageDiscover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

Here was my recommendation. In this case I would recommend you sell the house. Here are three options that you have.

Option #1: Let your lender foreclose on the home. You just stop making the payments and surrender the home to your lender.

Option #2: Rent the property. This is a good way to earn some extra money.

However, if you are upside down, then it is more than likely that the rent will not cover the mortgage. That means someone will have to write a check each month covering the loss.

Option #3: Short Sale the house and get the debt wiped out. A short sale offers the following benefits over a foreclosure.

You are eligible for another loan within 3 years after a short sale and sometimes even sooner than that. However, if your lender forecloses on the home, then current Fannie Mae Guidelines require you to wait 5-7 years before you can buy another home with a Fannie Mae Loan.

Most other banks and lenders have the same or even stricter guidelines. Any future loan application will require you to answer the question, “Have you had a property foreclosed upon or given title or deed in lieu thereof in the last 7 years?”

If your lender forecloses on your home, then an you’ll have to answer “yes” to that question. If you short sell the house, then you can state “No” because you short sold your home.

With a foreclosure your score is typically lowered by 250 to 300 points, or even more. This often stays on your credit score for over 3 years.

If you short sell your home, then only late payments show up on your credit. After a short sale, the mortgage is normally reported as “paid in full, settled.”

This lowers your score as little as 50 points if all other payments are being made. Oftentimes, this is off your credit report in as little as 12 months.

If your lender forecloses on your home, you may end up having to repay them for the money they lost. A foreclosure can take 12-18 months to process.

This dramatically increases the loss and makes any deficiency judgment potentially bigger. Contrast this with a short sale.

Few lenders ask for a promissory note on a short sale. As an example, on one short sale, the bank lost over $120,000. They settled with the seller for $25,000 to be repaid over 15 years with zero interest.

The seller’s monthly payment was only $138,89. You can often even negotiate and have the promissory note waived. Most lenders also have a policy that the upside down debt is erased on a short sale.

It doesn’t happen every time. So check your options before you start the process. Thinking about a short sale?

Find out how much your home is worth.
Free House Value   Click here*     http://instantbizsites.com/VaughnRice/house-value

ImageShort sales can drag out giving you time. It takes maybe sometimes a month to sell the house. Then, the short sale negotiations start. They can drag out for 3-6 months. So instead of foreclosure here is what you should do.

Here is a tactic you can use to delay the foreclosure process and even stop a foreclosure sale. Stop Your Foreclosure With A Short Sale  Click here *http://instantbizsites.com/VaughnRice/stop-foreclosure

Image Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail atc.mrvaughn@gmail.com

I will contact you for a free consultation. Click Here *Image

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 813-679-3477 or visit at http://www.isellyourfloridahome.com/

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area.

Thanks for reading this, Vaughn Rice.

Vaughn is a Real Estate Agent at Quicksilver Real Estate Group.
E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477. Click Here*Image

One You Can Trust To Serve You

View My Office homes for sale at  http://companylistings.drshortsale.mfr.fusionmls.com/

Vaughn Rice specializes in assistance with short sales in Tamp Bay Area of Florida

Vaughn Rice, Quicksilver Real Estate Group is not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. I can offer you loan modification information.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Vaughn’s personal views and do not reflect the views of Quicksilver Real Estate Group.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area. E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477   Click Here *Image
This information on,Short Sale Question: Getting divorced. Can’t Afford Home. What Should I Do?   Is provided as a courtesy to our viewers to help them make informed decisions.

How Soon Can I Buy Another Home After A Short Sale?


How Soon Can I Buy Another Home After A Short Sale?

I receive this question a lot. “I am upside down and need to move. I would like to buy another home. Can I do that?” they asked me.

Today they can. FHA (the Federal Housing Administration) has a new program that enables you to short sale your existing home and buy a new home right afterwards.

ImageDiscover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

The home you purchase would have to meet FHA’s standard lending guidelines. FHA is a great mortgage program.

In fact, more people buying a home in today’s market are getting an FHA loan.

Here is what you would need to do to participate in the program:

1. Determine if you qualify to participate in the program. We have been told that you will need the following.

(Guidelines can change at any time, so make sure you check them with a Mortgage Professional familiar with the program.)

A. A 640 FICO credit score or better.

B. You must be current on all installment payments and your mortgage.

C. No bankruptcy or foreclosure on your credit in the last 7 years.

D. The home you are purchasing must be inferior to the one you are selling. I don’t know the exact guidelines, but I think it means it is a smaller home, or it has less bedrooms or a lower price.

E. You will need the 3.5% down payment for the new purchase.

2. Continue making your mortgage payments each month.

3. Talk to a Mortgage Professional and fill out FHA’s Short Sale and Buy Application.

4. Get pre-approved for your next home loan.

5. Put your home on the market with a licensed short sale realtor.

6. Once the short sale is approved, then you can start looking at other homes.

7. Close on selling your home and on purchasing the new property.

All in all it seems pretty simple. The key is to make sure they you are approved for the loan on the next home before you sell your existing home. Thinking about a short sale?

Find out how much your home is worth.
Free House Value   Click here*     http://instantbizsites.com/VaughnRice/house-value

ImageShort sales can drag out giving you time. It takes maybe sometimes a month to sell the house. Then, the short sale negotiations start. They can drag out for 3-6 months. So instead of foreclosure here is what you should do.

Here is a tactic you can use to delay the foreclosure process and even stop a foreclosure sale. Stop Your Foreclosure With A Short Sale  Click here *http://instantbizsites.com/VaughnRice/stop-foreclosure

ImageDiscover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail atc.mrvaughn@gmail.com

I will contact you for a free consultation. Click Here *Image

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 813-679-3477 or visit at http://www.isellyourfloridahome.com/

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area.

Thanks for reading this, Vaughn Rice.

Vaughn is a Real Estate Agent at Quicksilver Real Estate Group.
E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477. Click Here*Image

One You Can Trust To Serve You

View My Office homes for sale at  http://companylistings.drshortsale.mfr.fusionmls.com/

Vaughn Rice specializes in assistance with short sales in Tamp Bay Area of Florida

Vaughn Rice, Quicksilver Real Estate Group is not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. I can offer you loan modification information.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Vaughn’s personal views and do not reflect the views of Quicksilver Real Estate Group.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area. E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477   Click Here *Image
This information on, How Soon Can I Buy Another Home After A Short Sale? Is provided as a courtesy to our viewers to help them make informed decisions.

How A Short Sale Can Help You And Your Neighbors Avoid The Side Effects Of A Foreclosure

How A Short Sale Can Help You And Your Neighbors Avoid The Side Effects Of A Foreclosure

I recently received a question from Werner. “I am behind on my payments and thinking of just letting my home go into foreclosure. What does that do to the neighborhood?” he asked.

Here is our answer to his question. It does hurt the neighborhood. But, it also hurts you.

ImageDiscover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

Most banks do not do a good job and processing and handling foreclosures
. They take 12-18 months to foreclosure on a house and then sell it.

In the meantime they do little to maintain the home. I estimate that half of all the properties I have seen in foreclosure have never even been checked on by the lender.

It has gotten so bad that one homeowner even started up a website to report on these banks. The website is called Lender Offender. Check it out here: <a href=”http://www.lenderoffender.com/“>www.LenderOffender.com</a>.

In my opinion these banks are not being responsible with these properties. The biggest problem is that Uncle Sam usually takes the fall for any loss.

Uncle Sam does this by guaranteeing them against loss on many mortgages. Or in other cases, Uncle Sam has already bought the defaulted loan from the bank.

The homes eventually sell for a discount after the foreclosure. No home buyer is going to pay market value for a home that needs repairs!

This gives the banks little incentive to check on these properties. Fortunately you can help. Stay in your home until it sells. Keeps it looking good and everything in good order?

Then, put it up for sale as a short sale. That will help protect the property values in your neighborhood. Thinking about a short sale?

Find out how much your home is worth.
Free House Value   Click here*     http://instantbizsites.com/VaughnRice/house-value

ImageShort sales can drag out giving you time. It takes maybe sometimes a month to sell the house. Then, the short sale negotiations start. They can drag out for 3-6 months. So instead of foreclosure here is what you should do.

Here is a tactic you can use to delay the foreclosure process and even stop a foreclosure sale. Stop Your Foreclosure With A Short Sale  Click here *http://instantbizsites.com/VaughnRice/stop-foreclosure

Image Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail atc.mrvaughn@gmail.com

I will contact you for a free consultation. Click Here *Image

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 813-679-3477 or visit at http://www.isellyourfloridahome.com/

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area.

Thanks for reading this, Vaughn Rice.

Vaughn is a Real Estate Agent at Quicksilver Real Estate Group.
E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477. Click Here*Image

One You Can Trust To Serve You

View My Office homes for sale at  http://companylistings.drshortsale.mfr.fusionmls.com/

Vaughn Rice specializes in assistance with short sales in Tamp Bay Area of Florida

Vaughn Rice, Quicksilver Real Estate Group is not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. I can offer you loan modification information.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Vaughn’s personal views and do not reflect the views of Quicksilver Real Estate Group.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area. E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477   Click Here *Image
This information on, How A Short Sale Can Help You And Your Neighbors Avoid The Side Effects Of A Foreclosure. Is provided as a courtesy to our viewers to help them make informed decisions.

Short Sales: Can I Short Sale My Upside Down Home And Buy Another One?

Short Sales: Can I Short Sale My Upside Down Home And Buy Another One?

I recently received a question from Brent. Here is Brent’s Question.

“If we are not behind on our mortgage but can’t sell our home through a normal sale because we don’t have any equity, can we still qualify for a short sale?
We would like to sell this property and get another property where we are not upside down. Thank you!” asked Brent.

ImageDiscover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

Here was our answer. Brent, there is actually a federal short sale program that encourages what you would like to do. It is called the FHA 4155 loan program.

It allows a person that is short selling their house to buy another one right away. However, there are a few caveats.

I have been told that you will need the following.(Guidelines can change at any time, so make sure you check them with a Mortgage Professional familiar with the program.)

A. A 640 FICO credit score or better.

B. You must be current on all installment payments and on your mortgage.

C. No bankruptcy or foreclosure on your credit in the last 7 years.

D. The home you are purchasing must be inferior to the one you are selling. I don’t know the exact guidelines, but I think it means it is a smaller home, or it has less bedrooms or a lower price.

E. You will need the 3.5% down payment for the new purchase.

The biggest hurdle will be getting your current lender to approve the short sale. Most lenders will approve a short sale. It just takes time and a little patience.

But, it is a great opportunity to move on from your upside down property and start building equity elsewhere. Thinking about a short sale?

Find out how much your home is worth.
Free House Value   Click here*     http://instantbizsites.com/VaughnRice/house-value

ImageShort sales can drag out giving you time. It takes maybe sometimes a month to sell the house. Then, the short sale negotiations start. They can drag out for 3-6 months. So instead of foreclosure here is what you should do.

Here is a tactic you can use to delay the foreclosure process and even stop a foreclosure sale. Stop Your Foreclosure With A Short Sale  Click here *http://instantbizsites.com/VaughnRice/stop-foreclosure

ImageDiscover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail atc.mrvaughn@gmail.com I will contact you for a free consultation. Click Here *Image

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 813-679-3477 or visit at http://www.isellyourfloridahome.com/

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area.

Thanks for reading this, Vaughn Rice.

Vaughn is a Real Estate Agent at Quicksilver Real Estate Group.
E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477. Click Here*Image

One You Can Trust To Serve You

View My Office homes for sale at  http://companylistings.drshortsale.mfr.fusionmls.com/

Vaughn Rice specializes in assistance with short sales in Tamp Bay Area of Florida

Vaughn Rice, Quicksilver Real Estate Group is not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. I can offer you loan modification information.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Vaughn’s personal views and do not reflect the views of Quicksilver Real Estate Group.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area. E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477   Click Here *Image
This information on, Short Sales: Can I Short Sale My Upside Down Home And Buy Another One? Is provided as a courtesy to our viewers to help them make informed decisions.

Does My Short Sale Have To Be Approved Before I Put It Up For Sale?

Does My Short Sale Have To Be Approved Before I Put It Up For Sale?

ImageDiscover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

I often get asked if a short sale is even worth the effort. “Do I need to have my short sale “Approved” by my lender before I put my home on the market?” one seller asked us.

“When I called my lender they wouldn’t talk to me about my short sale. I am concerned that they might do that when I finally sell the property and I’ll never get the short sale approved.”

Here was my answer. Most lenders will not talk to you about a short sale until you have several things in place.

They want a solid offer from a pre-qualified home buyer along with all the necessary financial documents. Why do they do this?

Because they only want to process short sales that will sell and close. Now, I think it’s a stupid way to do things. Instead of refusing to negotiate short sales until there is an offer on the table, they should instead pre-approve short sales.

It would make the process so much easier. A home could be placed on the market at a set price.

Buyers would be more interested in the property because they know they can get an answer in 2-3 days versus 2-3 months.

I have brought this up with Matt Vernon, the Vice President of Bank of America’s Short Sale Department. He knows there is stuff to improve.

But, it’s hard to change the course of a huge company with so many different parties involved. Despite all this, experienced short sale agents are getting short sales approved every day.

The Short Sale Process is getting better and easier to navigate. More and more lenders are moving towards “Approved” Short Sales.

You just need to find a good short sale realtor that can navigate their way thru the crazy short sale process. Thinking about a short sale?

Find out how much your home is worth.
Free House Value   Click here*     http://instantbizsites.com/VaughnRice/house-value

ImageShort sales can drag out giving you time. It takes maybe sometimes a month to sell the house. Then, the short sale negotiations start. They can drag out for 3-6 months. So instead of foreclosure here is what you should do.

Here is a tactic you can use to delay the foreclosure process and even stop a foreclosure sale. Stop Your Foreclosure With A Short Sale  Click here *http://instantbizsites.com/VaughnRice/stop-foreclosure

Image Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *http://www.isellyourfloridahome.com/#!contact/c15n8

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail atc.mrvaughn@gmail.com I will contact you for a free consultation. Click Here *Image

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 813-679-3477 or visit at http://www.isellyourfloridahome.com/

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area.

Thanks for reading this, Vaughn Rice.

Vaughn is a Real Estate Agent at Quicksilver Real Estate Group.
E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477. Click Here*Image

One You Can Trust To Serve You

View My Office homes for sale at  http://companylistings.drshortsale.mfr.fusionmls.com/

Vaughn Rice specializes in assistance with short sales in Tamp Bay Area of Florida

Vaughn Rice, Quicksilver Real Estate Group is not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. I can offer you loan modification information.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Vaughn’s personal views and do not reflect the views of Quicksilver Real Estate Group.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
http://www.isellyourfloridahome.com/#!contact/c15n8

Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area. E-mail:  c.mrvaughn@gmail.com or visit athttp://www.isellyourfloridahome.com/
Phone: 813-679-3477   Click Here *Image
This information on, Does My Short Sale Have To Be Approved Before I Put It Up For Sale?  Is provided as a courtesy to our viewers to help them make informed decisions.