Author Archives: Maria Valenzuela
A Closer Look At The Short Sale Process
Banks permit short sales for two major reasons – the seller has a hardship, and the seller owes more on the mortgage than the home is worth.After submitting a financial package, home sellers might wait a very long time to get a response from the bank. Financial package is usually consist of the following – letter of authorization (allows your agent to speak to the bank), HUD-1 or preliminary net sheet, completed financial statement, hardship letter, tax returns and W-2s in the last two years, recent payroll stubs, last 2 months of bank statements, and (CMA) comparative market analysis or list of recent comparable sales. And contrary to popular belief, the short sale process is not really short. Continue reading
How Do Real Estate Auctions Work?
Property auction is the sale of all types of real property that includes Homes for Sale VA and commercial real estate, farms, as well as vacant lots and land. Auctions is basically public sale and it has its own processes, own set of rules, and regulations that every bidder should follow in order to participate. Online auctioning also exists nowadays and is gaining significance from a lot of buyers and sellers. One advantage with this kind of auctioning is that bidders don’t have to travel and so they can reduce other expenses too. Continue reading
Posted in Foreclosures
Tagged auction, business, foreclosed homes, Foreclosure, Foreclosures, home selling, homes, Property Auction, Real Estate, Real Estate Auction
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What’s The Ultimate Foreclosure Exit Strategy?
Mortgage lenders would rather accept a short sale offer rather than face foreclosure. In the same way, homeowners would rather request for a short sale rather than mess up their good credit record. So when a borrower or a homeowner is faced with a mortgage payment that is higher that actual value of the property, a short sale is more favorable than facing foreclosure. However, not all banks or mortgage lender will agree to accept a payoff lower than the original amount borrowed. But because they want to avoid facing foreclosure. they are more likely to accept the offer. Continue reading
Posted in Foreclosures
Tagged business, finance, Foreclosure, Foreclosures, Real Estate, real estate investing, short sale, short sale guide, short sale tip
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Make Money With Foreclosures
Would you like to profit from investing in foreclosed properties? But first you need to know the different types of investment properties that you can invest in like development properties, distress properties, fixer-uppers, long-term investments and rentals. You can learn some strategies from different real estate investors before you actually engage in investing. Continue reading
What If I Lost My Job?
There is a chance that you will be among the millions of people who are unemployed. If you are working full time and paying your Germantown Maryland real estate monthly mortgage, what will happen if the economy suddenly goes down leaving you unemployed? For some homeowners, the unemployment dilemma is no problem at all because they have a back-up unless they loss their job. A type of rider is added to their homeowners insurance – the job-loss mortgage insurance. Continue reading