Visit my site Massachusetts Short Sales . info to read the article I wrote on how Stopping a Foreclosure Auction with a Short Sale. Short sales have many benefits to home owners. One such benefit is if we are currently negotiating a short sale offer we can typically stop any upcoming foreclosure auctions. You have options to foreclosure. Almost all of your options will benefit you more than a foreclosure sale. Take the time to learn your options to foreclosure. … Continue reading...
Two New Real Estate Blogs
I wanted to take the time to introduce two new real estate blogs that I have started in companion to Merrimack Valley MA Real Estate. Many people have questions about short sales and home buying. I decided a site for each topic would make it easier for home owners and home buyers. Massachusetts Short Sales MassachusettsShortSales.info is a blog site dealing directly with the topic of Massachusett Short Sales and Avoiding foreclosure in Massachusetts. While my real estate … Continue reading...
Bankruptcy and how it ties in with Short Sales and Foreclosures
I must start out by first saying that I am not a bankruptcy attorney and by no means an expert. I am writing this post from the standpoint of being a Massachusetts Short Sale Realtor and what I have experienced. If you are in a pre-foreclosure situation and you are considering a bankruptcy to save your home you should consult with a bankruptcy attorney. When should I consider a Bankruptcy prior to a Short Sale or Foreclosure? A bankruptcy should be considered, if the restructuring of your … Continue reading...
Short Sale – How does it affect my credit score?
The effects of a Short Sale on Credit Scores Unfortunately a short sale may effect your credit scores. Make no mistake, the "ding" to your credit score can be very minimal (50 points) to much higher (150 points or more). While a short sale can have less of or the same impact as a foreclosure on your credit, it has the benefits to your future financial health. Please do not think a short sale will not effect your credit it will and it is irresponsible for someone to tell … Continue reading...
Recent Massachusetts Short Sales Closed
Local Massachusetts Short Sale Agent, Kevin Vitali has more short sales closed recently!! Haverhill MA Short Sales Closed 108 Perkins Court, Haverhill MA 01832- West Meadow Hills Condominiums- Sold for $180,000 96 Summer Street Haverhill MA 01832- Captain Haselton House Condominiums Chelmsford MA Short Sale Closed- 12 Muriel Drive, Chelmsford MA 01824- Sold for $294,000 Lowell MA Short Sale Closed- 74-76 West Forest Street Lowell MA 01852- Sold For … Continue reading...
Should I Stay or Should I go?- Massachusetts Short Sales
One big question I am asked when meeting with potential Massachusetts Short Sale sellers, is if they "should stay in the home or move immediately during the short sale process?" The answer to this question is of course is very personal to each individual's situation. Sometimes you may be making a move for a job transfer or to care for a family member and you have no other choice, but to pack up and move. But, for most home sellers going through a short sale there will be pros and cons to … Continue reading...
The Deficiency Balance in a Massachusetts Short Sales
We hear the term deficiency balance, when we are talking about Massachusetts Short Sales or Foreclosures. It is the biggest concern for a home owners going through a short sale or facing a foreclosure. What is a deficiency balance? A deficiency balance is the difference between the amount owed on a loan versus the price for which the home is sold. For example: If he home has a total balance of $420,000 owed on the mortgage and is eventually sold for $280,000, the deficiency balance is … Continue reading...
How Low is too Low for an offer on a Short Sale?
This questions was just asked on Trulia, "I am interested in a short sale property which has been on the market for 2 years. How low is to low of an offer?" I thought it was a great question, as many home buyers think that a short sale means they can steal the property. In most cases, that is not true. Does it happen? Yes, but very infrequently. Unfortunately, many home buyers are disappointed and miss out on great homes because they do not understand how banks think about … Continue reading...
Who Pays the Fees for Short Sales in Massachusetts?
A common concern for many upside down homeowners in Massachusetts that are considering a short sale is..... Who pays the fees associated with the short sale, including Realtor Commission and Attorneys Fees? It may vary depending on who you use as a Short Sale Realtor/ Short Sale Negotiator. But my short sale team, made up of myself and my attorneys office do not typically charge the homeowner any fees to complete a Massachusetts Short Sale. Our fees and typical closing costs are contingent … Continue reading...
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 … Continue reading...