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Lowell MA Short Sale Sold- 74-76 West Forest Street, MLS#71150758

Another Lowell Massachusetts Short Sale Sold!!

74-76 West Forest Street, Lowell MA 01851- My short sale team has successfully closed another Lowell MA Short Sale. If you live in Lowell Massachusetts or any where through out the Merrimack Valley call an agent that has closed numerous short sale transactions.

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If you are a Massachusetts homeowner that has missed mortgage payments, or facing foreclosure or a home buyer interested in buying a foreclosure or short sale call Kevin at 978-360-0422. Kevin is an experienced Massachusetts Short Sale Real Estate Agent and can explain your possible options to foreclosure.  Every situation is different and you have about five options to consider.  If a short sale is your best option my short sale team will work to complete a successful short sale on your home.  Combined we have successfully closed 100′s of Massachusetts Short Sales.  My closing ratio is almost 100% on Massachusetts Short Sales.

Short Sale Realtor Services in northeast Massachusetts,  the Merrimack Valley and surrounding area.  Andover Short Sales, Billerica Short Sales, Boxford Short Sales, Chelmsford Short Sales, Dracut Short Sales, Georgetown Short Sales, Groveland Short Sales, Haverhil Short Salesl, Lawrence Short Sales, Lowell Short Sales, Merrimac Short Sales , North Andover Short Sales, Newbury Short Sales, Newburyport Short Sales, North Reading Short Sales, Rowley Short Sales, Tewksbury Short Sales, Tyngsboro Short Sales, Westford Short Sales, Wilmington Short Sales, West Newbury  Short Sales.

If you are looking to do a short sale in a town not listed please do not be afraid to call me.  I will find someone in your area that is capable of doing a short sale.

IMPORTANT NOTICE: Kevin Vitali of EXIT Group One  is not associated with the government, and our service is not approved by the government or your lender.  Even if you accept this offer and use our service, your lender may not agree to change your loan.  If you stop paying your mortgage, you could lose your home and damage your credit.

Posted in: Lowell MA, Massachusetts Short Sale Articles Tagged: Lowell MA, Massachusetts Short Sale Realtor, Short Sales

The Short Sale Hardship Letter for Massachusetts Short Sales

One of the vital pieces the banks are looking for in a short sale is the financial hardship.  You will be asked to submit a hardship letter.  I have a format that I use for all of my short sale sellers.

Remember to keep in simple!!  The short sale hardship letter should be neatly handwritten and reduced to less than one page.  Bear in mind the short sale negotiator is working on hundreds of files and don’t want to be reading page after page of why you can no longer make your mortgage payment.  Stick to the the financial/ hardship facts.  Do not add opinion or make it long and drawn out.  The negotiator is just looking for a reason that you are late on your mortgage payment not your whole life story.

Following is a list of some acceptable short sale hardships:

  1. Loss of job
  2. Loss of income- maybe you took a job that pays less than your original job
  3. Disability to prevent a seller from working
  4. Expanding family
  5. Relocation for work
  6. Illness
  7. Divorce
  8. Incarceration
  9. Failed business
  10. Increased Mortgage payment due to ARM adjustment, balloon payment etc…..

These are some of the more common reasons for a hardship that the bank finds acceptable.  [intlink id=”258″ type=”post”]Strategic short sales[/intlink] are now becoming more common place and do not have a financial hardship connected with it. Your short sale Realtor should be able to help you with making a concise, clear hardship letter.

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This post was provided by Kevin Vitali of EXIT Group One Real Estate In Tewksbury MA.  If you are facing foreclosure, have missed mortgage payments or recieved your notice to cure you can contact Kevin by email at kevin@kevinvitali.com or call 978-360-0422.  Call a short sale realtor that can help.  Don’t wait.

Short Sale Services in northeast Massachusetts, around the Merrimack Valley.  Short Sales in the towns of Andover, Billerica, Boxford, Chelmsford, Dracut, Georgetown, Groveland, Haverhill, Lawrence, Lowell, Merrimac, North Andover, Newbury, Newburyport, North Reading, Rowley, Tewksbury, Tyngsboro, Westford, Wilmington, West Newbury and surounding areas

Posted in: Massachusetts Real Estate, Massachusetts Short Sale Articles Tagged: Massachusetts Short Sale Realtor, Massachusetts Short Sales, Short Sales

The Strategic Short Sale

With almost 23% of the homes in a negative equity position nationwide, it leaves many homeowners that are not in a financial hardship wondering why they are paying on a home that is worth significantly less money than what is owed on it.  Some homeowners are deciding to walk away from their homes.

When a homeowner makes a decision to stop paying their mortgage without a financial hardship and let the bank foreclose or do a strategic short sale, this is called a strategic default.

Traditionally in the past, most banks would not consider a short sale with out a financial hardship.  Some lawyers are arguing that anyone who has negative equity of 30% or more on their home are in a financial hardship.  This really leaves us thinking that a financial hardship can be very subjective.  Furthermore when banks start walking away from foreclosure or foreclosed properties themselves, it makes homeowners wonder why they are way overpaying for a house that no longer has the equity in it.  Following are articles about banks canceling foreclosures or walking away from homes they own.

NY Times article on banks canceling foreclosures

Chicago Tribune article on bank walk-aways

When you read this articles as an underwater homeowner, it makes you wonder why your not walking away.  Let’s face it the banks are profit driven and if they are making a financial decision to just walk away, why wouldn’t homeowners.  The question is why are the banks willing to not foreclose or walk away?  The cost to foreclose and maintain the property or if the bank already owns the property the cost of maintaining it is greater than what the bank can sell it for.

So will the banks consider a strategic short sale? Some will and some won’t.   If a bank thinks you will walk away from a home and you will let them foreclose, they may consider a strategic short sale a better option.  In a foreclosure the banks will easily spend an additional $35,000 to $50,000 dollars in legal costs to foreclose and the cost of carrying a home.

It is a weighty decision for a homeowner to walk away from a home.   Massachusetts as well as many other states is a “recourse” state.  Meaning that the bank can take action to collect the difference that is owed between what the house is sold for and what is actually owed on the house.   There are credit reporting ramifications, there can be tax ramifications as well as overall financial ramifications.   It is a decision that should not be taken lightly.  At the end of the day, regardless of the outcome you may decide a strategic short sale or a foreclosure may be right for you.

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This post was provided by Kevin Vitali of EXIT Group One Real Estate In Tewksbury MA. You can contact Kevin by email at kevin@kevinvitali.com or call 978-360-0422.

I pride myself in the quality of my work while helpingbuyers and sellers make dreams come true.

Real Estate Services in the northeast Massachusetts, around the Merrimack Valley, Southern New Hampshire including the towns of Andover, Billerica, Boxford, Chelmsford, Dracut, Georgetown, Groveland, Haverhill, Lawrence, Lowell, Merrimac, North Andover, Newbury, Newburyport, North Reading, Rowley, Tewksbury, Tyngsboro, Westford, Wilmington, West Newbury

Posted in: Massachusetts Short Sale Articles, Selling a House Tagged: avoid, foreclosure, Massachusetts, Massachusetts Short Sale Realtor, Massachusetts Short Sales, strategic, Strategic defualts, Strategic Short Sales

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Kevin Vitali

KEVIN VITALI


Kevin Vitali- Massachusetts REALTOR EXIT Realty Beatrice Associates
191 S. Main Street
Middleton, MA 01949 cell phone: (978) 360-0422 office phone: (781) 929-1010

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Kevin Vitali- Massachusetts Realtor Serving Essex County and Northern Middlesex County Massachusetts

KEVIN VITALI

978-360-0422
kevin@kevinvitali.com

Kevin Vitali- Massachusetts REALTOR
Real Broker MA, LLC
90 Canal Street
Boston, MA 02114
cell phone: (978) 360-0422
office phone: (855) 450-0442

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Massachusetts Real Estate

 

Real Estate Services in the following areas:
Northeast Massachusetts, Merrimack Valley, North Shore and Metrowest including the following communities and the surrounding area including
Amesbury, Andover, Billerica, Burlington, Chelmsford, Dracut. Georgetown, Groveland, Haverhill, Lawrence, Littleton, Lowell, Melrose, Merrimac, Methuen, Middleton, Newbury, Newburyport, North Andover, North Reading, Reading, Salisbury, Stoneham, Tewksbury, Tyngsborough, Wakefield, West Newbury, Westford

Disclaimer

No information on this website is to be construed as legal advice.  The information is either generalized or state-specific. If you are seeking information for legal purposes please consult an attorney.

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