McCain vs Obama

If you were like me, you were probably glued to the TV last night to watch the FINAL debate. As both candidates gave their opinions on abortion, education, health care, etc, did either candidate have a solution to the one issue (the Economy) that concerns most of us? Will either candidate be able to fix this crisis in their first term? In Round 3 of the debates, who was the King of the Ring? Tell me what you are thinking. I want to hear from you.

Short sale vs. Foreclosure

 Compare Short Sale vs. Foreclosure

Should You Choose a Short Sale Over a Foreclosure?

One of our clients asked us:

“My husband and I have been making our mortgage payments every month even though our home is underwater. We owe a lot more than our home is worth. Now, my husband has taken a lower paying job. We’re thinking about walking away from our home and letting it go to foreclosure, but heard that we may qualify for a short sale. Which is better for us? A short sale or a foreclosure?”

Short Sale Benefits

Here are a few benefits for doing a short sale that may not have occurred to you:

 

Buying Again After a Short Sale  If your payments have never fallen behind 30 days late and the lender does not  require that you pay back the loan, Fannie Mae guidelines may allow  you to buy another home immediately. The wait for an FHA loan is 3 years. If your payments are in arrears yet a short sale is granted by your lender, you may qualify to buy another home with a Fannie-Mae backed mortgage within two years, regardless of whether the home is your primary residence provided that you do not get other derogatory credit that may lower your credit score.

What is CFK (Cash For Keys)?

Banks are offering this to homeowners/ tenants of properties that have been foreclosed. It’s a win-win  situation for both parties involved. The bank is able to take possession of the property quicker without doing an eviction. Also, the property is not vandalized or destroyed. The advantage to the homeowner is they get CASH to help them relocate to another residence and maybe even enough to pay the deposit and first month’s rent . Banks are paying anywhere from $500 to $3500.

Homeowners/ Tenants, don’t vandalize the property, get paid to move which will have to happen anyways.

?s to Ask your Real Estate Agent

1. How Long Have You Been in the Business?

6 years

2. What is Your Best Marketing Plan or Strategy for My Needs?

Automatic property notifications to your email inbox from all companies (Allen Tate, Remax, Coldwell Banker, etc) My mission is to sell you a property at the lowest price with the least amount of money out of pocket while making the transaction as worry free as possible. (Seller paid closing costs, inspections, etc), I have a showing agent on my team to make sure you are able to view properties in less than 24hrs from seeing them online.

3. Will You Please Provide References?

Go to http://www.homes.com/Agent/2393070/Erica-Simpson#endorsement

4. What Are the Top Three Things That Separate You From Your Competition?

Knowledge of the current market (Foreclosures and Short Sales), financing options (VA, FHA, USDA, State Housing, etc), A TEAM THAT DELIVERS ANSWERS ASAP (Full time admin, full time internet marketer, and showing agent)

5.  May I Review Documents Beforehand That I Will Be Asked to Sign?

Yes

 
6. How Will You Help Me Find Other Professionals?

I have a network of vendors that I use who are licensed.

7. How Much Do You Charge?

ZERO/ NOTHING (Commissions are seller paid)

8. What Kind of Guarantee Do You Offer?

You can cancel your buyer agency at anytime if you are not satisfied with my services. You will owe NOTHING! (FYI_ We never had this to happen.)

9. Why should you buy NOW?

Home prices and interest rates are LOW! Therefore, you will qualify for more house than you would in an UP market due to supply and demand. Right now, there is a lot of supply

10. Foreclosure vs. Short Sale- Which is better?

Short sale because banks are taking a percentage of the value versus when they foreclose they are trying to recover their losses of property value, legal fees, etc.

11. What Haven’t I Asked You That I Need to Know?

Since I have answered all of the initial questions, CALL ME TODAY!!!!

 

Erica Simpson, NRBA member
Facing Foreclosure??? You have options.
Office (803)485-1113
Fax (704)949-2672
Toll Free (866)746-1196
www.EricaHomes.com

Why are the banks paying homeowners to do short sales?

IT IS A VERY SMART THING TO DO! Most banks are offering seller incentives to complete the short sale up to $3500. It is a win win situation for both parties. The bank does not take a property back in very poor condition because it has been flooded or trashed out by an angry homeowner. Also, they save money on legal fees to foreclose on the homeowner. The banks also get a FREE house sitter to make sure it is not vandalized by others. Remember Homeowners, these banks can’t afford to take your house back!

?s to Ask your Real Estate Agent

1. How Many Deals Have YOU Closed Not Your FIRM?

FYI- Closed transactions  give experience NOT YEARS in business or being licensed.

Over 300 

2. What is Your Best Marketing Plan or Strategy for My Needs?

 Automatic property notifications to your email inbox from all companies (Allen Tate, Remax, Coldwell Banker, etc) My mission is to sell you a property at the lowest price with the least amount of money out of pocket while making the transaction as worry free as possible. (Seller paid closing costs, inspections, etc), I have a showing agent on my team to make sure you are able to view properties in less than 24hrs from seeing them online.

3. Will You Please Provide References?

Go to http://www.homes.com/Agent/2393070/Erica-Simpson#endorsement

 4. What Are the Top Three Things That Separate You From Your Competition?

Knowledge of the current market (Foreclosures and Short Sales), financing options (VA, FHA, USDA, State Housing, etc), A TEAM THAT DELIVERS ANSWERS ASAP (Full time admin, full time internet marketer, and showing agent)

5.  May I Review Documents Beforehand That I Will Be Asked to Sign?

  Yes
6. How Will You Help Me Find Other Professionals?

I have a network of vendors that I use who are licensed.

7. How Much Do You Charge?

ZERO/ NOTHING (Commissions are seller paid)                                                          

8. What Kind of Guarantee Do You Offer?

You can cancel your buyer agency at anytime if you are not satisfied with my services. You will owe NOTHING! (FYI_ We never had this to happen.)

9. Why should you buy NOW?

Home prices and interest rates are LOW! Therefore, you will qualify for more house than you would in an UP market due to supply and demand. Right now, there is a lot of supply

10. Foreclosure vs. Short Sale- Which is better?

Short sale because banks are taking a percentage of the value versus when they foreclose they are trying to recover their losses of property value, legal fees, etc.

 11. What Haven’t I Asked You That I Need to Know?

Since I have answered all of the initial questions, CALL ME TODAY!!!!

 

Erica Simpson, NRBA member
Facing Foreclosure??? You have options.
Office (803)485-1113
Fax (704)949-2672
Toll Free (866)746-1196
www.EricaHomes.com