How Long Will I Have to Wait to Buy Another Home After I Accomplish a Short Sale?

Posted on May 13, 2012 in Short Sale FAQs

Hello everyone, this is Mark Peek at Keller Williams Real Estate, your Woodland short sale specialist. Today’s subject is without doubt one of the most frequently asked questions I get and that is how long will it take before I can purchase another home once more after I fullfill a short sale? Well, the time frame for that may actually vary widely. It could actually differ from a week after I close your short sale to 3 years. The reason being is when you complete a short sale and also you’re current and you have a really legitimate motive corresponding to divorce or enormous loss of revenue and another is relocation. Particularly in case you’re relocating a reasonably long distance around one hundred miles or so, then you definitely would possibly qualify for a short sale and purchase again with an FHA loan. This is something we might need to pre approve before we begin the process simply to ensure that it is an option for you.

In any other case, you may actually receive a brand new VA mortgage; in case you had an exception on that one inside a year. You can also obtain an FHA loan in around 3 years after a short sale. At the end of the day what you actually need to look at is your financial situation. How much is your private home underwater? If it is going to take you 5 or 6 years to recover, then you may want to think about a short sale as a way of getting your self back on the financial track.

Again, I am Mark Peek with Keller Williams Real Estate, your Woodland short sale specialist and I am right here to help. When you have any specific questions on your state of affairs, you possibly can hit the start here button on the top of our website. You can also give me a call directly and I would be glad 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 my name is Mark Peek at Keller William’s Real Estate, your short sale specialist in the Woodland area. Today’s topic is in regards to IRS tax liens that have been attached to your property; the tax lien could have happened in the past or is recent, but either way, it’s been attached to your mortgage and you need it removed in order to do the short sale. You may be distressed at this point, considering a short sale and questioning how it’s even possible. 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 work with the lien holders, 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 attempting to avoid foreclosure and will work with you in order to complete a short sale and get rid of the lien. They will not necessarily discount your payoff on your tax lien, but they will work with us to get it removed, as long as you supply the requested documents. There’s a lot of documentation that they require, such as a buyer’s appraisal and certificate of tax discharge documentation; basically you need to make certain all of your financial documents are in order to get the federal tax lien removed so we can close the short sale.

If you have any specific questions or you have a situation similar to this, please call me 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 Woodland and I’m the short sale specialist for the entire Woodland area. I anticipate doing business with you and meeting 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 everybody I’m Mark Peek, your short sale specialist in Woodland, thank you for checking out my weblog today. I work with Keller Williams Realty in the Woodland area and use my blog to offer distressed property owners priceless info on their options for avoiding foreclosure.If in case you have questions about the short sale process, or can no longer afford your mortgage, go to my web site or contact me right this moment to discuss your options.

For my weblog at this time I wanted to speak about working with Nationstar Mortgage on a short sale file and among the latest information I have worked with. Plenty of the Nationstar Mortgage’s I have worked on lately 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. Through negotiating with Nationstar I was capable of obtain a payoff of one hundred and seventy two thousand dollars with zero deficiencies owed by the homeowner. Having just obtained the approval letter for this short sale I can proudly say we have been capable of remove two hundred and forty thousand dollars worth of debt from this owners name. This was a big reduction for our client and they’ll have the ability to start in search of a new dwelling in Woodland to purchase within two to three years.

When 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 Woodland area I am the right choice for getting you out from below your distressed property. This is Mark Peek with Keller Williams Realty, thank you for your time and I hope you may have an awesome 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 Keep away from Foreclosure

Posted on May 3, 2012 in Short Sale FAQs

Hello, this is Mark Peek with Keller Williams Real Estate, your Woodland short sale specialists. Today’s subject is secondary liens on a property, particularly lines of credit. Now in case you have a number of liens on a property and you are trying a short sale, essentially those a number of liens should agree with one another on who is going to get what with the intention to settle out the short sale.

I will tell you that these are more sophisticated than just a one lien short sale with just one loan on the property. In my opinion, multiple lien short sales usually have the highest failure rate. Typically the rationale why it would not get accepted and closed is the second lien holders will not be happy with the amount they are getting.

I obtained a $one hundred,000 balance on a second lien on a short sale. They settled for as little as $three,000. They will release the lien, they’ve already accepted the short sale, and once we close, the homeowner is not going to be responsible for the difference. They’re forgiving $97,000. It is about the way you set up the deal. It is about expectations, having the correct package deal and follow-up and knowledge of the laws, the contacts at the lenders and figuring out who the investor of that note is.

So if you have any questions on your specific short sale, or you have got a second lien holder and you’re concerned you might not get it through, give me a call. You may as well hit the start here button on the top of the webpage, enter your data and we’ll get back to you as quickly as possible.

I additionally want you to consider looking at our short sale calculator. It’s going to assist you determine whether or not your home is a possible candidate for a short sale. It additionally may provide you with an idea how long will probably be before your property may become an asset again. Again, that is Mark Peek at Keller Williams, your Woodland 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.