Hartford Area Short Sales and Foreclosure Information

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

But to be technical, here's a more official definition:

• A homeowner is 'short' when the amount owed on his/her property is higher than current market value.
• A short sale occurs when a negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then 'sold short' of the total value of the mortgage.

For homeowners to qualify for a short sale, they must fall into any or all of the following circumstances:

• Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
• Monthly Income Shortfall – In other words: "You have more month than money." A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
• Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. I hold the CDPE® Designation and am ready to identify all possible options and, when possible, assist in the quick execution of a short sale transaction.

If you have questions or feel you may qualify for a short sale, please contact me for a free consultation.

Understanding your options now could mean all the difference in the world.

http://www.youtube.com/watch?v=poICUeKn4KU

Struggling homeowners are a prime victim for fraudulent schemes. Suffice to say there are plenty of predators lurking and waiting for vulnerable prey (and make no mistake, they are the predator and the vulnerable homeowners are the prey).

Today, the real estate industry is the newest, biggest target for predatory schemes. In fact, the U.S. Attorney General, Eric Holder, stated that mortgage fraud cases are 400 percent higher than they were five years ago. My guess is that it will continue to grow.  You will be offered exotic mortgage schemes, mortgage assumptions, you name it and they will promise you it will work.  Please arm yourself with facts and don't fall victim to charlatans selling snake oil.

With nearly 1 in 6 homeowners unable to pay their mortgages, understand that you are not alone. Knowing your legitimate foreclosure-avoidance options is the best way to fight this terrible trend.

I have a report on my CDPE site which will advise you how you can avoid mortgage fraud schemes and outline solutions available to you.

The bottom line, and age-old adage, rings true: if it sounds too good to be true, it most likely is. You have to arm yourself with information!  Click here for a free report.