FM Realty, Green Cove Springs, Florida

November 2010 - Posts

• Loan servicer demands a bribe from home buyer, or they won’t approve buyer's short sale offer.

  Orange Park FL – We had a short sale recently with a certain loan servicing company. The funny thing was that this loan servicer was hired by the owner of the loan to work on behalf of them. In other words, the loan servicer was to look out for Read More... Posted Tuesday, November 30, 2010 6:15 PM by Fred Martin | 0 Comments Filed under: Real Estate, Finances, Buyer Information, Community Information

• A Few Examples of Loan Servicers Not Doing Their Job

  Orange Park FL – Most people think the person they mail their mortgage payment to every month is the owner of their loan. Not so. In fact, most of the time, they are not the owner. As an example, 80% of all loans that Bank of America handles are Read More... Posted Monday, November 29, 2010 12:35 PM by Fred Martin | 0 Comments Filed under: Real Estate, Finances, Buyer Information, Seller Information

• The specific damages a foreclosed homeowner might ask to be compensated for by their lender after a rejected short sale

  Orange Park FL – I am following up on a question from Arman. His loan was owned by Fannie Mae and the company handling the loan for Fannie Mae was rejecting an excellent short sale offer for no reason. Discover how other sellers successfully did Read More... Posted Thursday, November 25, 2010 8:53 AM by Fred Martin | 0 Comments Filed under: Real Estate, Finances, Buyer Information, Seller Information, Community Information

• Are homeowners able to sue their lender for damages after a foreclosure?

  Orange Park FL – I am following up on a question from Arman. His loan was owned by Fannie Mae and the company handling the loan for Fannie Mae was rejecting an excellent short sale offer for no reason. Discover how other sellers successfully did Read More... Posted Tuesday, November 23, 2010 10:06 AM by Fred Martin | 0 Comments Filed under: Real Estate, Market Conditions, Finances, Buyer Information, Seller Information

• I want to avoid foreclosure, but my lender won’t let me.

  Orange Park FL – The Stop Foreclosure Institute recently received a question from Arman. Here is his question. I am a Seller trying to avoid foreclosure. My agent has a buyer and his offer is with the lender from last seven months. Now the lender Read More... Posted Monday, November 22, 2010 9:20 AM by Fred Martin | 0 Comments Filed under: Real Estate, Finances, Buyer Information, Seller Information, Community Information

• High property taxes are forcing some people into foreclosure

  Orange Park FL – I just saw the second of two articles about homeowners losing their home or property because of high property taxes. Most of the stories were based in the Northeast, where the property taxes are much more expensive. I one story, Read More... Posted Friday, November 19, 2010 5:55 PM by Fred Martin | 0 Comments Filed under: Real Estate, Finances, Buyer Information, Seller Information, Community Information

• My homeowner’s insurance won’t renew my policy because my loan is in foreclosure.

  Orange Park FL – The Stop Foreclosure Institute recently received a question from Tim. Here is Tim’s Question. “I have an elderly friend who recently finalized a loan modification through her lender. The mortgage company shows on their Read More... Posted Thursday, November 18, 2010 11:46 AM by Fred Martin | 0 Comments Filed under: Real Estate, Finances, Buyer Information, Seller Information, Community Information

• My lender just sold my loan. Is that a good thing?

  Orange Park FL – The Stop Foreclosure Institute recently received a question from James. “My loan was just sold. I was making payments to CitiFinancial and they sold it to Nationstar. Is that good or bad?” James asked. Discover how other Read More... Posted Wednesday, November 17, 2010 12:49 PM by Fred Martin | 0 Comments Filed under: Real Estate, Industry, Finances, Buyer Information, Seller Information, Community Information

• I thought it would work, but it didn't!

  Orange Park FL – I’m sure you have heard about forensic loan audits. I’ve heard people say how wonderful they are. “Your lender will approve your short sale right away”, claims one. Discover how other sellers successfully Read More... Posted Tuesday, November 16, 2010 11:06 AM by Fred Martin | 0 Comments Filed under: Real Estate, Market Conditions, Finances, Buyer Information, Seller Information, Community Information

• How to know when the short sale negotiator is lying to you.

  Orange Park FL – Negotiating short sales is tough. In my opinion, some of the banks are not making good financial decisions. “We won’t approve the file without the financials completely filled out,” they say. Or, they tell you Read More... Posted Monday, November 15, 2010 3:06 PM by Fred Martin | 0 Comments Filed under: Real Estate, Finances, Buyer Information, Seller Information, Community Information

• What to do when they won't let you "escalate" the short sale file.

  Orange Park FL – Yesterday I gave you a good example of why you should “escalate” a short sale file. The Stop Foreclosure Institute took a short sale that wasn’t going to be approved, pushed for an approval, and received it. As Read More... Posted Friday, November 12, 2010 10:10 AM by Fred Martin | 0 Comments Filed under: Real Estate, Market Conditions, Finances, Buyer Information, Seller Information

• What to do after the lender rejects the short sale offer.

  Orange Park FL – What do you do when the house won’t sell for any more money, but the bank keeps on rejecting the offers? You can give up, but the seller may lose their home to foreclosure. Ouch! Why not escalate the file and get it approved. Read More... Posted Thursday, November 11, 2010 11:08 AM by Fred Martin | 0 Comments Filed under: Real Estate, For Sale, Finances, Buyer Information, Seller Information

• Who benefits from a short sale?

  Orange Park FL – First, it benefits the owner of the loan. This is because they get to sell the house at today’s price, versus what it will be worth 6-12 months down the road. I just did a comparison and pulled up sold listings. All of the Read More... Posted Wednesday, November 10, 2010 12:08 PM by Fred Martin | 0 Comments Filed under: Real Estate, Market Conditions, For Sale, Finances, Buyer Information, Seller Information, Community Information

• Another thing that is dragging on the economy.

  Orange Park FL – The Stop Foreclosure Institute received another testimonial from a seller. She said a lot of stuff and it refreshed my memory. The average person just doesn’t realize how “going broke” makes people feel like trash. Read More... Posted Tuesday, November 09, 2010 11:56 AM by Fred Martin | 0 Comments Filed under: Real Estate, Finances, Buyer Information, Seller Information, Community Information

• A Common Myth About Banks and Short Sales.

  Orange Park FL – I’ve heard the following myth from a lot of people. Here’s what they tell me. “The banks can’t afford to approve loan modifications because they don’t want to take the losses on their books that fast. Read More... Posted Monday, November 08, 2010 8:55 AM by Fred Martin | 0 Comments Filed under: Real Estate, For Sale, Industry, Finances, Buyer Information, Seller Information, Community Information

• My house is in foreclosure. When will I have to move out?

  Orange Park FL – The Stop Foreclosure Institute recently received a question from a homeowner facing foreclosure. I’ll call him Dave to protect his identity. (Foreclosure is embarrassing and I don’t want to put his name out there.) Dave Read More... Posted Friday, November 05, 2010 4:53 PM by Fred Martin | 0 Comments Filed under: Real Estate, Finances, Buyer Information, Seller Information

• We answer a question from a home owner facing foreclosure.

  Orange Park FL – The only thing certain in life is death and taxes - Benjamin Franklin The Stop Foreclosure Institute recently received a question from a homeowner facing foreclosure. I’ll call him Peter to protect his identity. (Foreclosure Read More... Posted Thursday, November 04, 2010 7:05 PM by Fred Martin | 0 Comments Filed under: Real Estate, Finances, Seller Information, Community Information

• Wall Street Firms Strategically Walking Away from thier upside down properties.

  Orange Park FL – Wall Street Fat Cats say homeowners shouldn’t walk away from upside down homes. Why? “If you do it, then everyone will start doing it”, they say. “It isn’t moral. People should own up to their commitments. Read More... Posted Wednesday, November 03, 2010 11:22 AM by Fred Martin | 0 Comments

• Walk Away or Stay?

  Orange Park FL – Should you walk away or should you stay? Here is how to determine whether or not you should walk away from your home. Because of the decline in the nationwide housing market, I doubt that your home is worth what you paid for it. Read More... Posted Tuesday, November 02, 2010 9:11 AM by Fred Martin | 0 Comments

• Thinking about a short sale, but can't pay your homeowner's association dues?

  Orange Park FL – Many people don’t think they are eligible for a short sale because they have unpaid homeowner’s association dues. Don’t worry about paying them yourself. When you short sale your home the association dues will Read More... Posted Monday, November 01, 2010 3:37 PM by Fred Martin | 0 Comments