Doing Work That Matters

I met with another homeowner this week who had a failed attempt at a loan modification. His home goes to sale at the courthouse in about 90 days.  He’s come to realize that a short sale is a better alternative to a foreclosure but he is frustrated with the process that has brought him to this point.

Navigating Without A Compass

I hear the most amazing stories when helping homeowners with a short sale on their home.

Hours on the phone, lost paper work, rude phone calls.

It’s no wonder why people are so upset with their lender that they are willing to walk away despite the increased damage it will do to their financial future.

In this particular case a real estate agent brought me on board to handle the short sale while he marketed the property for the seller.  The seller had been told that he was getting a modification on both of his loans.  Not true. [Read more…]

That 7 Year Rule You Heard is a Bunch of GARBAGE

If we are ever going to get the economy back on track, we need for Americans to get back into home ownership. With literally millions of people having gone through a foreclosure, short sale, bankruptcy or deed in lieu it is important to know how long it will be before they can buy again.

The Bad, The Worse, and the Ugly

According to an article in the New York Times, Foreclosure was the worst derogatory mark when it came to earning the ability to purchase a home again.  I have long believed this to be true and have written about it before here.  But when you get a spokesman from Fannie Mae to say “The key is to avoid the foreclosure, that is what will help you be eligible for the shorter period”, it is clear that we need get this message out.

And Now For the Shocker…

FHA homeowners who have elected to complete a short sale and have been current for the previous 12 months may be eligible to purchase again immediately.

Did you catch the little factoid in there? [Read more…]

Bank of America Strikes Back


The Galactic Empire known as Bank of America has recently added strict language to their short sales that are an attempt to stop investors from purchasing short sales and then selling them to a predetermined buyer. I recently received both a Short Sale Contract Addendum and an Agent Certification Disclosure that specifically aim to stop this process.

What is Flopping?

Most people are familiar with the term “flipping” a property, where an investor would purchase the property at a discount and then try to quickly sell the property at a profit. (with or without making any improvements.) The recent increase in short sales has has produced an evolution in flipping where investors identify an end buyer even before they have purchased the property through a short sale. A process called “flopping”.

How Does it Work?

find out here…