Home Real Estate

I’ve run into some financial problems and need to sell my home. My sister is part owner of the home but she can no longer pay her part and the mortgage payments on this townhouse are 2 much for me to afford on my own. We are behind 2 mortgage payments at this point and from what our realtor told us a short sale would prob. be best. Would we still have to pay for those last 2 months? cause’ at this point were both basically broke. Also, in a short sale.. how much time do you usually get to keep living in your home? and do you still have to keep making payments?

If you have equity in the property then it isn’t a short sale, but just a sale. If you have no equity or owe more than the townhouse is worth, then you can ask your lender if you can do a ’short sale’. If you owe $220,000 and the townhouse is worth $250,000, just sell it. After commissions, etc., you’d only break even, but at least you wouldn’t owe the mortgage anymore. My guess is that you don’t have any equity though…

A short sale means that you will sell the property for less than you currently owe. The bank agrees that this amount will satisfy the mortgage. (for example; you owe $250,000. The townhouse is worth $220,000. The bank agrees to take $220,000 to satisfy the mortgage. You get lucky and find a buyer at $220,000, sell the townhouse and don’t owe anything more.). In the past, the difference between the sales price and the amount you owe would have counted as taxable income to you, but a recent bill has suspended that and you wouldn’t even owe the taxes on the difference.

This is much different (and better for you) than a foreclosure. In a foreclosure, you fall behind on your payments, the bank notifies you that you have breached your agreement with them. They go to court and get permission to take the collateral (the townhouse). They auction it off. They bill you for the difference between what you owed and what they sold the place for (adding on lawyer’s fees, etc.).

In a short sale you live in the house until it sells. Getting a lender to agree to a short sale will also short circuit the foreclosure process.

Your credit is getting trashed as you fall behind on your payments. You need to contact your lender to work something out, whether that is a reduction in your payment or adding the two overdue payments to the balance of your mortgage. If you can get/keep current through the process, your credit won’t get completely mangled. There is also a chance that the mortgage company will stop reporting you as late if you are undergoing a short sale.

It’s got to be a stressful situation. Take care of yourself and remember that this will be temporary. Don’t let the stress ruin your health.

good luck!

I am trying to buy a house, but I am also a new real estate agent. Do I get the comission when I buy my own house. I dont remember this from training. Thank you.

When in a real estate transaction, since you are a licensed real estate agent, you are required by law to reveal in any contract with the seller or buyer that you are a licensed real estate agent.

Some take this a little further and state "I am purchasing this property as my personal residence or I am purchasing this property as an investment property." This is not required, however, in this society of law suits it might help.

Any property that you sell either as the selling agent or a property that is sold as you being the listing agent, you are legally eligible for a commission on these type sales.

Your commission is based on the agreement you have with you real estate broker.

I hope this has been of some use to you, good luck.

"FIGHT ON"

http://www.realwealthinvestor.com Using County Records Research.com you have access to up to date foreclosure information for Southern California and Nevada. Plus unlimited consultation and free seminars and training. Check out this video then go to http://www.realwealthinvestor.com to watch a demo of the service and get you access code for one month of FREE foreclosure data service and consultation.

Duration : 0:5:40

Read the rest of this entry »

Technorati Tags: California, Diego, foreclosures, las, Nevada, San, Southern, vegas

Prestigious Homes Realty’s flat fee mls Testimonials and Infomation. Limited listing Service ( flat fee MLS ). http://www.prestigioushomes.net and http://www.prestigioushomesflatfeeservices.net Learn about Florida’s best limited service listing program done by Prestigious Homes Realty, offers Limited Listings Services ( Flat Fee MLS).Prestigious Homes Realty flat fee mls Florida Miami fort Lauderdale west palm beach Jacksonville Orlando Tampa. This is a slide show of the services and a movie offered by Prestigious Homes Realty.
Also there is a testimonial from one of our customers, a letter acted out in the movie .
see our sold properties link = http://www.prestigioushomesflatfeeservices.net/httpdocs/sold properties.htm (more) Prestigious Homes Realty is located in boca raton , they cover the state of florida

Duration : 0:4:41

Read the rest of this entry »

Technorati Tags: Beach, Boca, fee, flat, Florida, Fort, homes, Jacksonville, Lauderdale, miami, MLS, Orlando, PALM, Prestigious, Realty, Tampa, West

Park Forest 3 bedroom 1 bath in Hot area 10N in South Austin Texas. Two blocks south of 71 on Manchaca. Walking distance to Central market, Hyde Park Bar & Grill and Madam Mam’s. Great South Austin community with exemplary elementary school.

Completely remodeled true to the retro style of neighborhood and time period of home. Check it out and call for a private showing.

Patrick R. Eitel
Office: 512-263-9090
Cell: 512-293-9124
E-FAX: 512-410-3473
Fax: 512-263-0109
Keller Williams
Patrick@EitelGroup.com

www.AustinHomeClick.com

Duration : 0:4:19

Read the rest of this entry »

Technorati Tags: 5003 Gladeview, Area 10N, Austin Texas, Central Market, Covington middle, Crockett High School, Eitel Group, For Sale, Gladeview, Homes South Austin, Joslin Elementary, Keller Williams, Lansing, Live Oak Market, Manchaca, MLS, Park Forest, Patrick Eitel, Randalls

Be very careful if you are a home buyer right now. The majority of purchases are going to be losing deals as the housing bottom is not here yet! That doesn’t mean that every house purchase is going to be a losing one. However, the majority of them will be!

Especially if you plan on putting a house on mortgage, then this is going to increase debt even higher. The interest rates will go higher soon and this should cause problems.

If you have a lot of money and you find a property that can work very well for whatever it is that you plan on doing over the next little while, then it can be a great investment. Especially if you are paying Fiat dollars for it and not taking a mortgage. But once again, not many houses are a deal. Most house purchases will cause problems down the line for a lot of people.

Duration : 0:3:6

Read the rest of this entry »

Technorati Tags: 2012, currency, debt, dollar collapse, dollars, economic collapse, farming, fiat, gerald celente, home sales, house, interest, invest, investing, investment, investor, Jim cramer, jim rogers, mayan calendar, money, mortgage, obama, peter schiff, President, rate, real estate, Ron Paul, trade

My wife and I bought a townhouse in California 3 years ago after 10 years. We have 4 small children, my wife is bedridden (doctor’s orders). It is a tough situation.

My wife and I are in deep financial trouble. I don’t want to destroy my credit report by going through a foreclosure and I want to do what is right for me and my kids.

I am already 3 months behind and $30,000 in credit card debt.

What are my options?

You might try getting your wife on disability. If this is a temporary situation you might think about staying with family for awhile and renting your house out. Or rent something you can afford for your family and rent the townhouse for the mortgage payment. The biggest problem is that you did not pay for 3 months, you have to make that good.

You can’t short sale if you did not already try to sell it for at least what you owe. Call your mortgage company and ask them for what options they can offer you.

Real Estate: What does "act cont short sale" mean on a MLS listing?

I believe it means "Active Contingency Short Sale" which translates to the listing being active and they are accepting offers, BUT the contingency part means that they have already submitted an offer to the bank and they are waiting for a response. This response can take a couple hours, or it can take several months…. in the meantime, if a better offer comes in, the Realtor can submit the better offer and possibly get a response sooner. On most short sales, the listing agent does not submit multiple offers, they wait until the first offer is rejected, but not all Realtors do business the same way.

built in 1920, not sure the last time it was remodeled, but it has to have a do over, not sure with money issues if i should leave and design around or try to pull it out, want the house to have a time period feel, just not sure what sunken tub feels like, but Roman and that is not what i am going for, thanks for the help

IS THE FLOOR CONCRETE? OR WOOD? THAT 1920 STYLE IS COMING BACK . IF REAL CASE IRON TUB, U CAN CONTACT A CONTRACTOR THAT RECONDITIONS THESE TYPE OF TUBS.

Beverly Hills Homes – http://www.ChristopheChoo.com
Los Angeles Homes, Los Angeles California Homes.
Live in a gated community with Royalty, Sylvester Stallone, Rod Stewart and many other celebrities and business moguls. To learn more about this property or other homes in Beverly Hills, Bel Air, Holmby Hills and surrounding Los Angeles Westside areas, contact:
Christophe Choo Real Estate Group in Beverly Hills (310)777-6342
email at Christophe@Christophechoo.com
Beverly Hills Homes – http://www.ChristopheChoo.com
Beverly Hills luxury homes for sale real estate for sale luxury home foreclosure property REO

Duration : 0:10:0

Read the rest of this entry »

Technorati Tags: (Rich, bank owned, Bel Air, Beverly Hills Homes, Beverly Hills Homes For Sale, Beverly Hills Luxury Mansions, Billionaire, Celebrity Tour, Christophe Choo, famous, foreclosure, foreclosures, golden triangle, hollywood, Holmby Hills, Home, homes, homes for sale, Hot Properties, houses, Los Angeles California homes, Los Angeles Homes, Los Angeles Homes Sale, Los Angeles Real Estate, Movie Star, properties, property, real estate, realtor, reo, Rod Stewart, Sylvester Stallone, top agent