March 22. 2010 by admin.

First let me begin by reviewing just exactly what Short Sale means. A Short  Sale is when the lender of record agrees to discount a borrower’s payoff to accommodate a sale when:

1. The borrower/seller has experienced hardship.

2. The value is proven to be less than the amount needed to pay off all loans, encumbrances and real estate selling costs.

3. The loan is delinquent or in default.

To obtain approval from the borrower’s lender, a Short Sale Package must be submitted. The package will include information such as a “letter of hardship”. This letter should be hand written and no more than one page. Examples of hardship could be medical, job loss, business change, or marital status (divorce).

For a complete list of items required by most lenders for the Short Sale Package, please reply to this Blog Post.

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March 9. 2010 by admin.

Some experts predict that down the road lenders will exercise greater leniency when it comes to borrows who defaulted on their mortgage. The most important factor for lenders will be in determining whether or not the borrower can meet his or her financial obligation the second time around. Avoiding a foreclosure is still the preferred course of action but at least it may appear that there could be a small light at the end of the tunnel for a second chance at home ownership.

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March 8. 2010 by acscfl.

To gain the greatest return on your money, without adding additional square footage to your home, consider remodeling your kitchen. Whether investing in a short-sale, foreclosure or new home, remodelling the kitchen makes the most sense. On average a Kitchen Remodel will yield an ROI of 80-100%! This is an amazing rate of return on any investment, but the added bonus is that as a homeowner you get to enjoy the benefits of your Kitchen Remodel until you sell your home.

Applied Contracting Services, Inc.

www.acscfl.com 

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