It’s time to take another look at short sales

Just a few months ago, if you would have told a real estate agent who specialized in short sales that in the future a lender’s would give stellar service and rapid approval times—and on top of that significant cash incentives for financially strapped homeowners for pursuing a short sale—you’d have gotten some strange looks.

That’s all changed.  And it’s changed faster and to a greater extent than most homeowners and real estate professionals ever could have imagined.

With a glut of bank-owned properties dragging down the recovery of the real estate market, as well as the national economy, major lenders are more eager than ever before to avoid foreclosure. So they’ve sharpened their focus on short sales. Big time.

The biggest lenders in the country have staffed up to ensure rapid processing of short sale applications. They’ve ponied up with cash incentives of up to $35,000 at closing for homeowners who pursue a short sale. And they’re proactively reaching out to agents with short sale experience and putting them in touch with delinquent borrowers.

This is big news and the media has not really caught onto it yet. What’s important for you to know is that whatever you’ve read or heard in the past about long lag times and frustrations with short sales is probably no longer the case.

As a I have been specializing in short sales for almost 5 years and as a member of the CDPEAdvanced community, I’m tapped into major lenders and on top of major developments affecting short sales and bank-owned properties.  I invite you to visit my website www.MonkeySold.com  to learn more and feel free to contact me any time at 321-443-4448 or email me at help@MonkeySold.com if you or anyone you know is struggling with an unmanageable mortgage.

How to cope with the Stress of an Unaffordable Mortgage Payment

Whenever I look at the latest foreclosure and distressed housing statistics, the sheer number of Floridians facing the stress of losing their homes amazes me.

It really is my goal to help as many homeowners I can to either stay in their homes or relieve the burden of their mortgages. Knowing that there are so many that need my help is a driving force for me to continue doing what I do.

In fact, I just released another report that I’ve made available on my website today. As I became recently CDPE certified, It explains the CDPE designation and lists 10 options that homeowners can take advantage of to relieve the stress that comes with owing more money on their home than they can afford to pay.

The report also draws a contrast between short sales and foreclosures. 

Note that, there’s a growing trend of “strategic defaulters” who think it’s smart to let their home go into foreclosure. Strategic default is not letting it go into foreclosure, but negotiating a shortsale with your lender to create a win/win. As any one who follows this blog knows, there is nothing strategic about foreclosure; it’s one of the most long-lasting, negative financial challenges you can go through.

I’m excited about acting as a resource for more homeowners who have questions about what they should do. As always, if you know homeowners who may need my help, have them contact me immediately! Together, we can put them back on the path to financial stability.

Hitler Needed A Short Sale

Hitler also had his problems and a short sale might have been a solution to problem. He might have created his own personal bail out. Unfortunately he is facing foreclosure and might not be able to avoid foreclosure. Being a non US citizen he has few options but short sale might have saved his house from foreclosure. That's what happened when you are upside down on your mortgage. Of course it explains in a nutshell how almost every American has reacted during the boom. Using liar loans and spending the money from the HELOC Home Equity Line Of Credit. A real Funny but real look at the mortgage foreclosure crisis.
Enjoy!


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An In Debt View On Florida Mortgage Debt

When will housing prices rebound? It's the billion-dollar question. With the economy weakening day by day, probably not next year.



After reading the article written by Scott Cendrowski under the title "The 2009 Housing outlook" and published in Fortune Magazine; December 22, 2008 (Special Issue: Investor's Guide 2009, Why It's Time to Buy) I came to the following conclusion:



Today the Orlando-Kissimmee market here in Florida has dropped significantly. Certain areas have dropped 40 to 50% compared to 2007. In the subject article Scott Cendrowski predicts that that same area is going to have another price change of -19.8% in 2009 and another one of -7.1% in 2010.



What does that mean in reality to Joe The Plumber who bought his house at $300,000 in 2006?

Well, Joe's house is now worth $150,000 and next year, according to Fortune Magazine, his house will be worth $120,000 and in 2010 that same house will be worth $110,000.



Any idea how long it will take to get that house back at $300,000 with an annual price increase of 5%?

Well, I've calculated that and it is going to take 20 years.



A lot of homeowners in Florida think that there home is still worth more than market value and most of them say that they will ride out the storm. This is not a storm we're facing, but a hurricane. And one thing Floridians should know about hurricanes is not to stay around and trying to ride it out.



These are historic times we are living in, I am sure that the credit agencies will develop different rating formula's for people facing delays in payment in 2008 and 2009, because almost every American is affected. And buy the way why do we all worry about that credit score? Why do we need a good credit score? To get more debt? It is debt that got us in this mess in the first place.



Now is a good time to clean up your slate. Just negotiate a short sale with your bank, agree on debt forgiveness and let them waive deficiency judgment. And whilst you at, why not negotiate a settlement on your credit cards? A lot of information on Foreclosure avoidance, deed in lieu and loan modification can be found on my monkeysold blog



Makes sense? doesn't it?



by Monkeysold, Celebration, FL

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