How Long Will I Need to Wait to Purchase Another House After I Complete a Short Sale?

Posted on May 13, 2012 in Short Sale FAQs

Hi everyone, this is Mark Peek at Keller Williams Real Estate, your Cameron Park short sale specialist. Today’s topic is without doubt one of the most steadily asked questions I get and that is how long will it take before I will purchase another house again after I complete a short sale? Well, the timeframe for that may truly range widely. It could actually range from a week after I close your short sale to three years. The reason being is when you complete a short sale and also you’re current and you’ve got a very legitimate purpose such as divorce or enormous lack of revenue and one other is relocation. Especially in case you’re relocating a reasonably long distance around 100 miles or so, you then might qualify for a short sale and buy once more with an FHA loan. That is something we might wish to pre approve before we start the process just to make it possible for it is an possibility for you.

Otherwise, you possibly can truly receive a new VA mortgage; should you had an exception on that one inside a year. You may also get hold of an FHA loan in around three years after a short sale. At the end of the day what you really want to take a look at is your financial situation. How much is your house underwater? If it’ll take you five or six years to recover, then you definately might need to take into consideration a short sale as a way of getting yourself back on the financial track.

Again, I’m Mark Peek with Keller Williams Real Estate, your Cameron Park short sale specialist and I am right here to help. You probably have any specific questions about your situation, you can hit the start here button at the top of our website. You can also give me a call directly and I’d be completely happy to follow up with you. Thank you and have a wonderful day.

For more information on short sales and how to avoid foreclosure, visit the Short Sale Specialist blog or you can also contact the Mark Peek team and get started today.

Can I Do A Short Sale With A Federal Tax Lien?

Posted on May 13, 2012 in Short Sale FAQs

Welcome everyone I am Mark Peek at Keller William’s Real Estate, the short sale specialist in the Cameron Park area. Today’s subject is in regards to IRS tax liens that have been attached to your property; the tax lien could have occurred in the past or is recent, but either way, it has been attached to your mortgage and you need it gone in order to finalize the short sale. You may be distressed at this point, considering a short sale and questioning how that will happen. Will the IRS actually negotiate that, will they remove the lien and can we move go ahead with the sale?

I can tell you that I can negotiate with the banks, such as Bank of America, Chase, Wells Fargo, and get them to settle for less, but the IRS will not settle for less. They will, however, take into consideration the fact that you are wanting to avoid foreclosure and will work with you in order to complete a short sale and do away with the lien. They will not necessarily discount your payoff on your tax lien, but they will work with us to get it taken off, as long as you provide the requested documents. There’s a lot of documentation that they require, such as a buyer’s appraisal and certificate of tax discharge documentation; essentially you need to make certain all of your financial documents are in order to get the federal tax lien removed so we can complete the short sale.

If you have any particular questions or you have a situation similar to this, please give me a call or click Start Here at the top of the page. I would be happy to follow up with you, answer all of your short sale questions and help you with your particular situation. Again, I’m Mark Peek with Keller William’s Realty in Cameron Park and I am your short sale specialist for the entire Cameron Park area. I look forward to working with you and satisfying your short sale needs.

For more information on short sales and how to avoid foreclosure, visit the Short Sale Specialist blog or you can also contact the Mark Peek team and get started today.

Recent Success Saves Homeonwner Heap Of Money Because of Nationstar Mortgage Short Sale File

Posted on May 10, 2012 in Short Sale FAQs

Hello everyone I am Mark Peek, your short sale specialist in Cameron Park, thank you for trying out my weblog today. I work with Keller Williams Realty within the Cameron Park area and use my weblog to provide distressed property owners worthwhile information on their choices for avoiding foreclosure.You probably have questions concerning the short sale process, or can no longer afford your mortgage, go to my web site or contact me at the moment to discuss your options.

For my blog immediately I wanted to speak about working with Nationstar Mortgage on a short sale file and a few of the recent information I have worked with. A whole lot of the Nationstar Mortgage’s I have worked on these days have been owned by Fannie Mae or Freddie Mac. On the newest short sale I accomplished with Nationstar my client owed four hundred and seventeen thousand dollars on their underwater mortgage. Via negotiating with Nationstar I was capable of achieve a payoff of one hundred and seventy two thousand dollars with zero deficiencies owed by the homeowner. Having just received the approval letter for this short sale I can proudly say we were capable of remove two hundred and forty thousand dollars worth of debt from this homeowners name. This was an enormous aid for our client and they’ll be able to begin in search of a brand new home in Cameron Park to purchase within two to three years.

In case you have a Nationstar Mortgage, or any other lender, and usually are not sure what to do with your underwater mortgage give me a call right this moment to discuss your options. With years of short sale expertise within the Cameron Park area I am the best choice for getting you out from underneath your distressed property. This is Mark Peek with Keller Williams Realty, thank you for your time and I hope you’ve an incredible day.

For more information on short sales and how to avoid foreclosure, visit the Short Sale Specialist blog or you can also contact the Mark Peek team and get started today.

Helping Profitable Short Sales with 2nd Liens Avoid Foreclosure

Posted on May 3, 2012 in Short Sale FAQs

Hello, this is Mark Peek with Keller Williams Real Estate, your Cameron Park short sale specialists. Today’s topic is secondary liens on a property, specifically lines of credit. Now in case you have multiple liens on a property and you are trying a short sale, basically those multiple liens need to agree with each other on who’s going to get what as a way to settle out the short sale.

I will inform you that these are extra difficult than only a one lien short sale with only one mortgage on the property. In my opinion, multiple lien short sales usually have the highest failure rate. Sometimes the explanation why it does not get authorized and closed is the second lien holders are usually not pleased with the quantity they’re getting.

I bought a $a hundred,000 balance on a second lien on a short sale. They settled for as little as $3,000. They will release the lien, they’ve already accepted the short sale, and when we close, the house owner shouldn’t be going to be responsible for the difference. They’re forgiving $ninety seven,000. It’s about how you set up the deal. It is about expectations, having the right package and follow-up and knowledge of the laws, the contacts at the lenders and understanding who the investor of that note is.

So if you have any questions in your specific short sale, or you’ve got a second lien holder and you’re concerned you may not get it through, give me a call. It’s also possible to hit the start here button at the top of the webpage, enter your info and we’ll get back to you as soon as possible.

I additionally want you to think about taking a look at our short sale calculator. It should allow you to decide whether or not your own home is a potential candidate for a short sale. It also may provide you with an idea how long will probably be before your private home might become an asset again. Once more, that is Mark Peek at Keller Williams, your Cameron Park short sale experts and we’re right here to help.

For more information on short sales and how to avoid foreclosure, visit the Short Sale Specialist blog or you can also contact the Mark Peek team and get started today.