tag:blogger.com,1999:blog-63350315754233437072024-03-13T12:24:51.953-04:00My1245shortsale.comShort Sales FAQs, Approval Letters and Testimonials for Virginia and Maryland. Real Estate Specialists for Wells Fargo, Citi, Bank of America, Greentree, Acacia, VHDA, SLS, Indymac, First Horizon, Metlife, Chase, PHH, CCO, Cenlar, Suntrust, AHMSI, Aurora.12:45Teamhttp://www.blogger.com/profile/17356329506190399159noreply@blogger.comBlogger84125tag:blogger.com,1999:blog-6335031575423343707.post-44960299410318403312014-05-24T21:41:00.000-04:002014-05-24T21:47:16.697-04:00Greentree Mortgage Fairfax Ridge Short Sale Approved! Deficiency waived 2bd condo Aristotle DriveWe are confident that if we decide to work with you we will get your short sale approved and the deficiency waived! We have 100% success and helped over 150 short sellers. <br />
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If you have a loan with Greentree or a condo at Fairfax Ridge or in Northern Virginia, let us help you do a short sale so you do not waste away your life savings on a home upside down. I was in the same situation you are 2 years ago when I had to short sale my home. I know exactly what you are going through and would be honored to have a free consultation with you. Call Nate at 571-477-1245<br />
<br />
Greentree held the loans on this short sale. Read the approval letters below. Real Estate Agent Short Sale Specialist for Virginia & Maryland<br />
<br />
<span style="font-family: Times-Roman; font-size: x-small;"><span style="font-family: Times-Roman; font-size: x-small;">11317 Aristotle Drive , FAIRFAX VA 22033 - 1bd/1ba - $255,000</span></span><br />
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank. <br />
<br />
We just got this short sale approved. The seller was forgiven over 50k<br />
For Short Sale FAQ's visit:<br />
<a href="http://www.my1245shortsale.com/">http://www.my1245shortsale.com/</a><br />
<br />
<strong><u>Quick Facts</u></strong><br />
<br />
<strong>Hardship:</strong> Upside Down on the mortgage, family expanded and condo was too small<br />
<br />
<strong>Ratified Contract: 1/2/2014</strong><strong> </strong><br />
<strong>Final Approval Date: 12/21/2013</strong><br />
<strong>Close Date: 1/16/2014</strong><br />
<br />
<strong>Result:</strong> Full deficiency waiver for seller. Read the approval letters below.<br />
<br />
This short sale started in August. We lost the first buyer because they didn't want to wait any longer. We got the approval and had to substitute a new buyer quickly in time to close Jan 16 2014. Greentree was pretty easy to work with on this one overall after some hard negotiations to get them to waive the deficiency. <br />
<br />
If you would like for us to refer you to a tax professional with short sale experience, contact us at <a href="mailto:Nate@1245team.com">Nate@1245team.com</a><br />
<br />
If you have any questions concerning Greentree Mortgage <a href="mailto:natejohnson@kw.com">Contact Us</a>. We have a proven record with Greentree Mortgage. We can help you with Greentree Mortgage in Virginia & Maryland.<br />
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<b style="height: auto;">How Do I Know If I Qualify For A Short Sale in Virginia or Maryland?</b></h3>
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For Virginia or Maryland homeowners to qualify for a short sale, they must have the following circumstances:<br />
<ul>
<li><b>Financial Hardship</b> – There is a situation causing you to have trouble affording your mortgage.</li>
</ul>
<ul>
<li><b>Monthly Income Shortfall</b> – In other words: “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.</li>
</ul>
<ul>
<li><b>Insolvency</b> – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.</li>
</ul>
*Most of the clients we work with could very well keep their home, but they decide to make a business decision and cut their losses. <br />
<br />
Email me today for a free consultation <a href="mailto:nate@1245team.com">natejohnson@1245team.com</a><br />
<br />
This seems simple enough, but it is a complicated process that takes the expertise of qualified short sale professionals. I am a Virginia & Maryland certified short sale specialist and am ready to identify all possible options and assist in the quick execution of your short sale transaction.<br />
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<br />
M&T Bank and Bank of America BOA were the loans on this short sale. Read the approval letters below. Real Estate Agent Short Sale Specialist for Virginia & Maryland<br />
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<span style="font-family: Times-Roman; font-size: x-small;"><span style="font-family: Times-Roman; font-size: x-small;">3904 PENDERVIEW DR 707 FAIRFAX VA 22033 - 1bd/1ba - $145,000</span></span><br />
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank. <br />
<br />
We just got this short sale approved. The seller was forgiven over 75k<br />
For Short Sale FAQ's visit:<br />
<a href="http://www.my1245shortsale.com/">http://www.my1245shortsale.com/</a><br />
<br />
<strong><u>Quick Facts</u></strong><br />
<br />
<strong>Hardship:</strong> Upside Down on the mortgage, relocated for work out of state<br />
<br />
<strong>Ratified Contract: 2/27/2013</strong><strong> </strong><br />
<strong>Final Approval Date: 4/24/2013</strong><br />
<strong>Close Date: 5/17/2013</strong><br />
<br />
<strong>Result:</strong> Full deficiency waiver for seller. Read the approval letters below.<br />
<br />
This short sale went rather smoothly compared to most of ours. We had a slight problem with the appraisal but came to terms with the buyer at $145,000. Our seller was forgiven the entire deficiency and did not have to pay the bank any money at all!<br />
<br />
If you would like for us to refer you to a tax professional with short sale experience, contact us at <a href="mailto:Nate@1245team.com">Nate@1245team.com</a><br />
<br />
If you have any questions concerning M&T Bank or BOA Bank of America <a href="mailto:natejohnson@kw.com">Contact Us</a>. We have a proven record with M&T Bank or BOA Bank of America. We can help you with M&T Bank or BOA Bank of America in Virginia & Maryland.<br />
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<br />
Ocwen Loan Servicing LLC was the loan on this short sale. Real Estate Agent Short Sale Specialist for Virginia & Maryland<br />
<br />
5563 Seminary Road #115 Falls Church, VA 22041- 1bd/1ba - $180,000<br />
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank. <br />
<br />
We just got this short sale approved. The seller was forgiven over 105k<br />
For Short Sale FAQ's visit:<br />
<a href="http://www.my1245shortsale.com/">http://www.my1245shortsale.com/</a><br />
<br />
<strong><u>Quick Facts</u></strong><br />
<br />
<strong>Hardship:</strong> Upside Down on the mortgage<br />
<br />
<strong>Ratified Contract: 12/30/2012</strong><strong> </strong><br />
<strong>Final Approval Date: 2/27/2013</strong><br />
<strong>Close Date: 3/29/2013</strong><br />
<br />
<strong>Result:</strong> Full deficiency waiver for seller.<br />
<br />
This was a rather quick short sale. The bank came back and wanted more money for the property but we negotiated a fair price with the bank and the buyer and everyone came to terms. The Ocwen Loan Servicing is also forgiving the sellers entire mortgage!<br />
<br />
If you would like for us to refer you to a tax professional with short sale experience, contact us at <a href="mailto:Nate@1245team.com">Nate@1245team.com</a><br />
<br />
If you have any questions concerning Ocwen Loan Servicing LLC <a href="mailto:natejohnson@kw.com">Contact Us</a>. We have a proven record with Nationstar Mortgage and Greentree Short Sales. We can help you withNationstar Mortgage and Greentreein Virginia & Maryland.<br />
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<br />
More info to come on this but our client was forgiven over 100k and didnt have to pay the bank back anything!!! This was an investment condo that was no longer an investment. <br />
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Congress approved the other day the extension of the Mortgage Debt Relief Act until 2014. This is awesome news for those homeowners who are upside down on their home and thinking about doing a short sale. <br />
<br />
In a nut shell, the government is encouraging you to do a short sale. They are saying you do not have to pay taxes on the amount that is forgiven, if its your primary residence. If your home is not your primary residence there are other ways you do not have to pay taxes either. <br />
<br />
For more information on whether or not you qualify for a short sale email me at <a href="mailto:nate@1245team.com">nate@1245team.com</a> or call me 703-725-2929<br />
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I look forward to chatting with you about your options. <br />
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<br />
Nationstar Mortgage and Greentree were the loans on this short sale. Real Estate Agent Short Sale Specialist for Virginia & Maryland<br />
<br />
11352 Aristotle Drive, Fairfax, VA 22030- 2bd/2ba with garage - $250,000<br />
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank. <br />
<br />
We just got this short sale approved. The seller was forgiven over 105k<br />
For Short Sale FAQ's visit:<br />
<a href="http://www.my1245shortsale.com/">http://www.my1245shortsale.com/</a><br />
<br />
<strong><u>Quick Facts</u></strong><br />
<br />
<strong>Hardship:</strong> Upside Down on the mortgage, going through a divorce.<br />
<br />
<strong>Ratified Contract: 08/29/2012</strong><strong> </strong><br />
<strong>Final Approval Date: 10/09/2012</strong><br />
<strong>Close Date: 11/02/2012</strong><br />
<br />
<strong>Result:</strong> Full deficiency waiver for our seller.<br />
We listed this property in June and got a contract quickly. But Nationstarts BPO (appraisal) came in higher than our first buyer wanted to pay. Meaning the bank thought the home was worth more than our offer. The buyer walked and we quickly got a new buyer the end of August. We got final approval on October 9th and closed November 2. In all, the entire process took a little more than 4 months. <br />
<br />
If you would like for us to refer you to a tax professional with short sale experience, contact us at <a href="mailto:Nate@1245team.com">Nate@1245team.com</a><br />
<br />
If you have any questions concerning Nationstar Mortgage and Greentree <a href="mailto:natejohnson@kw.com">Contact Us</a>. We have a proven record with Nationstar Mortgage and Greentree Short Sales. We can help you withNationstar Mortgage and Greentreein Virginia & Maryland.<br />
<br />
<img alt="Fairfax Ridge Short Sale" data-mce-src="/image_store/uploads/5/4/7/4/8/ar135377313084745.JPG" height="274" src="http://activerain.com/image_store/uploads/5/4/7/4/8/ar135377313084745.JPG" title="Fairfax Ridge Short Sale" width="376" /><br />
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<br />
So lets say the Debt Act is not extended, there’s another significant exception to a homeowner’s obligation to pay taxes upon a deficiency waiver – insolvency. If you’re insolvent, as defined by IRS Code, then you have no tax liability on any deficiency waiver. What does it mean to be “insolvent”? I’m no tax expert (and anyone in this situation should seek advice from an accountant). However, it’s simpler than it sounds – you’re insolvent when your total debts exceed the total fair market value of all of your assets. Yes, “assets” includes everything you own. Most homeowners don’t have enough assets, so they’ll fit the bill. Just think about it. Using my example, above, if your house is worth $175,000 and you owe $300,000 and you’re decide to do a short sale, you’d have to have at least $125,000 in other assets – without any other debts – not to be insolvent.<br />
<br />
So if you have been considering doing a short sale, but waiting until this Debt Act is extended, lets chat if you think you will qualify for insolvency. <br />
<br />
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If you have a condo at The Reserve Manassas Park you have two options... Throw away money for the next 10+ years or do a short sale with us. <br />
<br />
Chase Mortgage Short Sale The Reserve Manassas Park Real Estate Agent Virginia & Maryland<br />
<br />
9722 Holmes Place, Manassas Park 20111 - 2bd/2ba - $140,000<br />
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank. <br />
<br />
We just got this short sale approved. The seller was forgiven over 125k<br />
For Short Sale FAQ's visit:<br />
<a href="http://www.my1245shortsale.com/">http://www.my1245shortsale.com/</a><br />
<br />
<strong><u>Quick Facts</u></strong><br />
<br />
<strong>Hardship:</strong> Upside Down on the mortgage, place was to small, paying more in mortgage then they would if they were to rent the same place. <br />
<br />
<strong>List Date: 08/02/2012 </strong><br />
<strong>Final Approval Date: 9/20/2012</strong><br />
<strong>Close Date: 10/30/2012</strong><br />
<br />
<strong>Result:</strong> Full deficiency waiver for our seller.<br />
<br />
This Chase short sale was rather easy. It took less than 50 days to get full approval and the seller was forgiven the entire deficiency amount. <br />
<br />
If you would like for us to refer you to a tax professional with short sale experience, conact us at <a href="mailto:Nate@1245team.com">Nate@1245team.com</a><br />
<br />
If you have any questions concerning Chase Mortgage Short Sales <a href="mailto:natejohnson@kw.com">Contact Us</a>. We have a proven record with Chase Mortgage (Preforeclosure) Short Sales. We can help you with Chase Mortgage Short Sale in Virginia & Maryland.<br />
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<br />
Chase Mortgage Short Sale & SLS Specialized Loan Service The Reserve Manassas Park Real Estate Agent Virginia & Maryland<br />
<br />
9711 Handerson Place, Manassas Park 20111 - 2bd/2ba with garage - $140,000<br />
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank. <br />
<br />
We just got this short sale approved. The seller was forgiven over 145k<br />
For Short Sale FAQ's visit:<br />
<a href="http://www.my1245shortsale.com/">http://www.my1245shortsale.com/</a><br />
<br />
<strong><u>Quick Facts</u></strong><br />
<br />
<strong>Hardship:</strong> Upside Down on the mortgage, place was to small, paying more in mortgage then they would if they were to rent the same place. <br />
<br />
<strong>List Date: 01/12/2012 </strong><br />
<strong>Final Approval Date: 7/17/2012</strong><br />
<strong>Close Date: 7/30/2012</strong><br />
<br />
<strong>Result:</strong> Full deficiency waiver for our seller.<br />
This short sale was definately interesting but we got it done again for our clients! Chase, who normally is very easy to do a short sale with, gave us complications early on. They denied the file twice because they said the seller could afford the property. If anyone knows the properties at The Reserve, most of these are upside down by over 150k!! So my client was not going to keep this property for the next 20 years and throw away his life savings. <br />
<br />
So we were persistant and escalated the file. What do you know they approved it! It just took alot longer than most of our short sales. Most are getting done in 90 days. This one took 6 months. But our client was forgiven over 150k! <br />
If you would like for us to refer you to a tax professional with short sale experience, conact us at <a href="mailto:Nate@1245team.com">Nate@1245team.com</a><br />
<br />
If you have any questions concerning Chase Mortgage Short Sales or SLS Specialized Loan Service <a href="mailto:natejohnson@kw.com">Contact Us</a>. We have a proven record with Chase Mortgage(Preforeclosure) SLS Specialized Loan Service Short Sales. We can help you with Chase Mortgage Short Sale SLS Specialized Loan Service <a href="mailto:natejohnson@kw.com"></a>in Virginia & Maryland.<br />
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<br />
4124 Fairfax Center Creek Dr, Fairfax, VA 22030 - $405,000<br />
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank. <br />
We just got this short sale approved. The seller was forgiven over 180k!!<br />
<br />
<strong>To find out when your home will be an asset again visit:</strong><br />
<a href="http://www.1245shortsale.com/">www.1245shortsale.com</a><br />
<br />
For Short Sale FAQ's visit:<br />
<a href="http://www.my1245shortsale.com/">http://www.my1245shortsale.com/</a><br />
<br />
<strong><u>Quick Facts</u></strong><br />
<br />
<strong>Hardship:</strong> Upside Down on the mortgage, lot of debt<br />
<br />
<strong>List Date: 03/13/2012 </strong><br />
<strong>Approval Date: 3/21/2012</strong><br />
<strong>Close Date: 6/29/2012</strong><br />
<br />
<strong>Result:</strong> Full deficiency waiver for our seller.<br />
<br />
AHMSI American Home Mortgage, This was our sellers 2nd short sale with us. Both were with AHMSI. The first one they did was a HAFA short sale because it was their primary residence. <a href="http://myshortsalecondo.blogspot.com/2012/05/ahmsi-american-home-mortgage-short-sale.html" target="_blank">Read more about it here</a>. For this one it was a regular short sale. They had rented the townhome out for a few years at a very big loss and could not continue doing so. We got the approval letter in less than 90 days and closed in 106 days! <br />
<br />
If you would like for us to refer you to a tax professional with short sale experience, conact us at <a href="mailto:Nate@1245team.com">Nate@1245team.com</a><br />
<br />
If you have any questions concerning AHMSI American Home Mortgage HAFA Short Sales <a href="mailto:natejohnson@kw.com">Contact Us</a>. We have a proven record with AHMSI American Home Mortgage (Preforeclosure) Short Sales. We can help you with AHMSI American Home Mortgage HAFA Short Sale in Virginia & Maryland.<br />
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<br />
<a href="http://www.zillow.com/profile/NateTheRealtor/Reviews/">http://www.zillow.com/profile/NateTheRealtor/Reviews/</a><br />
<br />
"I had a condo that I could no longer afford. I filed bankruptcy back in 2009 so the condo had been sitting there since then, almost 3 years. I received a post card from Nate about doing a short sale and how they had been successful in my condo complex. I gave him a call. He was professional and was quick to get started. Any time I emailed him or called, he was quick to respond. The short sale went through in about 2 months from the day I contacted him. I have never been more impressed then I was with Nate and the 12:45 team who assisted him on the short sale. Everyone I talked to on the time, was professional and handled themselves with class. I would still be stuck with this condo if it wasn't for Nate. I would recommend him to anyone who is thinking of doing a short sale. Now I am burden free and I owe it all to Nate and the 12:45 team. Great Job Nate!"<br />
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If your upside down lets chat about your options. 703-725-2929 No obligation. Just get the facts first, before you make a decision. <br />
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<br />
We have helped many investor types who have renters in there property that are severely upside down, short sale there place. <br />
<br />
What we like to do is time it so that the short sale is almost done by the time the lease is up. To be on the safe side, we like to start the short sale 3 months before the end of the lease. So if your lease was up September 1. We would start the short sale with the sellers missed payment June 1. Then when they are technically late June 15th, we would list the property and try to secure a buyer quickly. This process takes cooperation from your renters. We work with them so this is not a terrible inconvenience. <br />
<br />
So these 3 months that the seller is not paying there mortgage, they are collecting rent. This rent should cover in most cases the cash contribution that the bank is going to require at closing. Most of our sellers are having to bring anywhere from 0-$7,000 to closing. Yes we have had clients bring nothing and actually we have had a few actually get paid a couple thousand to do the short sale! Our typical short sales are getting done in 90 days. That is 90 days from contract ratification with the buyer. <br />
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If you would like to chat about your situation and see what your options are email me at <a href="mailto:nate@1245team.com">nate@1245team.com</a> <br />
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<br />
3701 South George Mason Drive Falls Church Virginia 22041 - 2bd/2ba - $220,000<br />
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank. <br />
We just got this short sale approved. The seller was forgiven over 200k!!<br />
<br />
<strong>To find out when your home will be an asset again visit:</strong><br />
<a href="http://www.1245shortsale.com/">www.1245shortsale.com</a><br />
<br />
For Short Sale FAQ's visit:<br />
<a href="http://www.my1245shortsale.com/">http://www.my1245shortsale.com/</a><br />
<br />
<strong><u>Quick Facts</u></strong><br />
<br />
<strong>Hardship:</strong> Upside Down on the mortgage, lot of debt<br />
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<strong>List Date: 02/21/2012 </strong><br />
<strong>Approval Date: 5/11/2012</strong><br />
<strong>Close Date: 5/30/2012</strong><br />
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<strong>Result:</strong> Full deficiency waiver for our seller.<br />
<br />
AHMSI American Home Mortgage, this short sale was rather easy. It was a HAFA short sale and as you can see it only took 80 days to get the approval letter. Through the HAFA program they forgive the entire deficiency which was over 200k for our seller and they actually paid my seller $3,000 to do the short sale! To find out if you are eligible for a HAFA short sale <a href="mailto:nate@1245team.com" target="_blank">email me</a><br />
<br />
If you would like for us to refer you to a tax professional with short sale experience, conact us at <a href="mailto:Nate@1245team.com">Nate@1245team.com</a><br />
<br />
If you have any questions concerning AHMSI American Home Mortgage HAFA Short Sales <a href="mailto:natejohnson@kw.com">Contact Us</a>. We have a proven record with AHMSI American Home Mortgage (Preforeclosure) Short Sales. We can help you with AHMSI American Home Mortgage HAFA Short Sale in Virginia & Maryland.<br />
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<br />
9720 Holmes Place, Manassas Park 20111 - 2bd/2ba with garage - $140,000<br />
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank. <br />
<br />
We just got this short sale approved. The seller was forgiven over 145k<br />
For Short Sale FAQ's visit:<br />
<a href="http://www.my1245shortsale.com/">http://www.my1245shortsale.com/</a><br />
<br />
<strong><u>Quick Facts</u></strong><br />
<br />
<strong>Hardship:</strong> Upside Down on the mortgage, place was to small, paying more in mortgage then they would if they were to rent the same place. <br />
<br />
<strong>List Date: 02/21/2012 </strong><br />
<strong>Approval Date: 2/28/2012</strong><br />
<strong>Close Date: 5/30/2012</strong><br />
<br />
<strong>Result:</strong> Full deficiency waiver for our seller.<br />
<br />
Another easy short sale with Chase. Not all are this easy but we got the approval letter for our sellers in less than 60 days. The sellers do not have to pay the bank back and were forgivin over 145k!! <br />
<br />
If you would like for us to refer you to a tax professional with short sale experience, conact us at <a href="mailto:Nate@1245team.com">Nate@1245team.com</a><br />
<br />
If you have any questions concerning Chase Mortgage Short Sales <a href="mailto:natejohnson@kw.com">Contact Us</a>. We have a proven record with Chase Mortgage(Preforeclosure) Short Sales. We can help you with Chase Mortgage Short Sale in Virginia & Maryland.<br />
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<br />
12010 Ridge Knoll Dr, Fairfax, VA 22033 - 2bd/2ba - $220,000<br />
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank. <br />
<br />
We just got this short sale approved. The seller was forgiven over 85k<br />
For Short Sale FAQ's visit:<br />
<a href="http://www.my1245shortsale.com/">http://www.my1245shortsale.com/</a><br />
<br />
<strong><u>Quick Facts</u></strong><br />
<br />
<strong>Hardship:</strong> Upside Down on the mortgage, place was to small, paying more in mortgage then they would if they were to rent the same place. <br />
<br />
<strong>List Date: 02/21/2012 </strong><br />
<strong>Approval Date: 2/28/2012</strong><br />
<strong>Close Date: 4/30/2012</strong><br />
<br />
<strong>Result:</strong> Full deficiency waiver for our seller.<br />
<br />
This was an easy short sale with BOA and Citi :) As you can see this took 2 months from contract to close! that means we got the approval in 30 days which is really fast. Typically our short sales are closing in 90 days but the seller was happy with 60! The seller was forgiven over 85k and does not have to pay the bank back. <br />
<br />
If you would like for us to refer you to a tax professional with short sale experience, conact us at <a href="mailto:Nate@1245team.com">Nate@1245team.com</a><br />
<br />
If you have any questions concerning BOA Bank of America or Citi Mortgage Short Sales <a href="mailto:natejohnson@kw.com">Contact Us</a>. We have a proven record with BOA Bank of America, Citi Mortgage(Preforeclosure) Short Sales. We can help you with BOA Bank of America Citi Mortgage Short Sale in Virginia & Maryland.<br />
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Our latest short sales were listed in late February and we got offers right away. It then took less than 60 days to get the approval letter and close. <br />
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Both sellers were forgiven and do not have to pay the bank. <br />
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Banks we were working with were: BOA/Citi & Chase <br />
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<br />
7557 Helmsdale Place, Manassas, VA 20109 - Townhome - $190,000<br />
We continue to be 100% in completing short sales for our sellers. Its important you hire a short sale specialist with experience with your bank. <br />
<br />
We just got this short sale approved. The seller was forgiven over 45k<br />
For Short Sale FAQ's visit:<br />
<a href="http://www.my1245shortsale.com/">http://www.my1245shortsale.com/</a><br />
<br />
<strong><u>Quick Facts</u></strong><br />
<br />
<strong>Hardship:</strong> Upside Down on the mortgage, divorce<br />
<br />
<strong>List Date: 01/12/2012 </strong><br />
<strong>Approval Date: 1/17/2012</strong><br />
<strong>Close Date: 3/30/2012</strong><br />
<br />
<strong>Result:</strong> Full deficiency waiver for our seller.<br />
<br />
VHDA FHA Short sales can be started before you get a contract, which saves time. We had no issues with this short sale because it was a FHA short sale. They actually paid our clients to do the short sale! They were forgiven over 45k <br />
<br />
If you would like for us to refer you to a tax professional with short sale experience, conact us at <a href="mailto:Nate@1245team.com">Nate@1245team.com</a><br />
<br />
If you have any questions concerning VHDA FHA Mortgage Short Sales <a href="mailto:natejohnson@kw.com">Contact Us</a>. We have a proven record with VHDA FHA Mortgage(Preforeclosure) Short Sales. We can help you with VHDA FHA Mortgage Short Sale in Virginia & Maryland.<br />
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</script> Mortgage Forgiveness Debt Relief Act Expires in 2012. Short sales can take 2-8 months. Most of ours are being completed in 90 days but a rare few are taking 6+ months. This debit relief act will save you a lot of money and is something to really consider as to why you need to short sale now rather than later in the year. <br />
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt;">Again, I am not a tax advisor, so please consult your tax advisor for better explanation. </span><span style="font-family: "Arial","sans-serif"; font-size: 10pt;"><o:p> </o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt;">Two ways to avoid paying taxes on your deficiency that was waived: </span><span style="font-family: "Arial","sans-serif"; font-size: 10pt;"><o:p> </o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt;">- If it was your primary residence - The Mortgage Forgiveness and Debt Relief Act and Cancellation expires in 2012</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt;">- Insolvency - Your liabilities are more than your assets</span><span style="font-family: "Arial","sans-serif"; font-size: 10pt;"><o:p> </o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 10pt;">Read more about these below </span></div>
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<a href="http://www.irs.gov/individuals/article/0,,id=179414,00.html">http://www.irs.gov/individuals/article/0,,id=179414,00.html</a></div>
12:45Teamhttp://www.blogger.com/profile/17356329506190399159noreply@blogger.comtag:blogger.com,1999:blog-6335031575423343707.post-40766274958118532532012-04-05T12:26:00.005-04:002012-04-05T12:40:10.378-04:00Do you have a BOA Bank of America Loan and are upside down? Good News!<script type="text/javascript">
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</script><strong><span style="font-size: large;">BOA has a short sale program that is the best! Read info below and </span><a href="mailto:nate@1245team.com" target="_blank"><span style="font-size: large;">contact me</span></a><span style="font-size: large;"> if you have any questions.</span></strong> <br />
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<ul style="margin-bottom: 0pt; margin-top: 0pt;"><li style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Low to no documentation from the Seller. </span></div></li>
<li style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Pre-approved pricing with aggressive price reductions.</span></div></li>
<li style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">$2,500 cash to the Seller at closing.</span></div></li>
<li style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Full Waiver of Deficiency.</span></div></li>
<li style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Can be an investment property.</span></div></li>
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<div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><strong>It’s basically HAFA without all of the paperwork and time delays</strong>. I’ve done quite a few of these and have a few more on the works right now. One key point is that you want to be sure to go through the Co-op approval process prior to placing the property on the market.</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><br />
</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><strong>It may take a couple of months on the front end</strong> to get approved for the Co-op and get a listing price but once you have these things the process is very straight forward.</span></div><br />
<ol style="margin-bottom: 0pt; margin-top: 0pt;"><li style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">List the property at the approved price.</span></div></li>
<li style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Sell it.</span></div></li>
<li style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Upload the contract and HUD into the Equator system.</span></div></li>
<li style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Received the final approval. Usually within 15-30 days</span></div></li>
<li style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Close the transaction.</span></div></li>
</ol><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"></div><br />
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<div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: underline; vertical-align: baseline;">From Bank of America</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: underline; vertical-align: baseline;"><br />
</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">I</span><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;">mportant information on a Bank of America Cooperative Short Sale</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;"><br />
</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">■ If you successfully complete a cooperative short sale, you will sell your home and will be required to vacate the property.</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">■ You are responsible for all maintenance and expenses on the property until it is sold.</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">■ Financial hardship and inability to afford the payments on the property are needed to qualify for a cooperative short sale.</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">■ The short sale must be an “arm’s length” transaction. An arm’s length transaction means that you cannot list the property with or sell it to anyone that you are related to or with whom you have a close personal or business relationship.</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">■ Bank of America, N.A. will use proceeds from the sale to pay off the balance of your loan, and will work together with your listing agent on your behalf to facilitate the sale process.</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">■ We may begin or continue the foreclosure process while we review your request. We will suspend any foreclosure sale date until the expiration date of the signed Acknowledgement of Interest or the date of closing of an approved short sale, whichever is later, as long as you continue to abide by the terms and conditions of the agreement.</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">■ If the cooperative short sale is unsuccessful, Bank of America may offer you the opportunity to participate in a deed-in-lieu of foreclosure program.</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">■ Once your short sale is completed, Bank of America will report to the major credit reporting bureaus that your loan was completed as a short sale.</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><br />
</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;">Benefits of a successful Bank of America cooperative short sale</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;"><br />
</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">■ If the cooperative short sale is successful, Bank of America will pay you $2500 for moving, relocation, or rental expenses.</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">■ If the cooperative short sale is successful, Bank of America will not pursue the deficiency balance on your loan.</span></div><div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">■ If the cooperative short sale is successful, Bank of America will not foreclose on your home.</span></div><br />
<div style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><strong>So folks, if you have a mortgage with Bank of America</strong> and need to do a <em>Virginia or Maryland Short Sale,</em> I can help. I’ll be waiting to hear from you. <strong>Any questions?</strong></span></div><br />
<a href="http://1245shortsale.com/doyouhaveaboaloan"><br />
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</a>12:45Teamhttp://www.blogger.com/profile/17356329506190399159noreply@blogger.comtag:blogger.com,1999:blog-6335031575423343707.post-54670380663926241842012-04-04T21:21:00.000-04:002012-04-27T21:29:01.682-04:00BOA Bank of America Short Sale Testimonial Virginia Maryland Short Sale Agent Specialist<div class="separator" style="clear: both; text-align: left;">
<a href="http://4.bp.blogspot.com/-zRVaQHPkCf4/T5tFvigQlSI/AAAAAAAACpI/FUMxpfTivHU/s1600/bryson_at_woodland_park_2.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="http://4.bp.blogspot.com/-zRVaQHPkCf4/T5tFvigQlSI/AAAAAAAACpI/FUMxpfTivHU/s320/bryson_at_woodland_park_2.jpg" width="320" /></a>We short sold our clients condo with Bank of America BOA and the seller did not have to pay the bank back. This approval letter came in 34 days! and she was forgiven over 100k. This condo was in Herndon at the Bryson at Woodlands Park. If you have any questions about your Bank of America Short Sale contact <a href="mailto:nate@1245team.com">nate@1245team.com</a> 703-725-2929 for a free consultation. </div>
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Read our clients review on zillow below<br />
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<a href="http://www.zillow.com/profile/NateTheRealtor/Reviews/">http://www.zillow.com/profile/NateTheRealtor/Reviews/</a><br />
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"I had a condo that I could no longer afford. I filed bankruptcy back in 2009 so the condo had been sitting there since then, almost 3 years. I received a post card from Nate about doing a short sale and how they had been successful in my condo complex. I gave him a call. He was professional and was quick to get started. Any time I emailed him or called, he was quick to respond. The short sale went through in about 2 months from the day I contacted him. I have never been more impressed then I was with Nate and the 12:45 team who assisted him on the short sale. Everyone I talked to on the time, was professional and handled themselves with class. I would still be stuck with this condo if it wasn't for Nate. I would recommend him to anyone who is thinking of doing a short sale. Now I am burden free and I owe it all to Nate and the 12:45 team. Great Job Nate!"<br />
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</script>12:45Teamhttp://www.blogger.com/profile/17356329506190399159noreply@blogger.comtag:blogger.com,1999:blog-6335031575423343707.post-58485119062888840282012-03-15T23:31:00.002-04:002012-10-22T08:01:44.508-04:00When Can I Buy After A Short Sale?Our lender put together these responses to when you can buy after doing a short sale.<br />
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** Myself and our past clients are going through a credit repair company to remove the short sale (and other negative items) completely from our credit. This time frame is typically less than 6 months. <a href="mailto:nate@1245team.com" target="_blank">Contact me</a> for more info.<br />
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<b><span style="color: #244061; font-family: Times New Roman; font-size: large;"><span style="color: #244061; font-size: 20pt; font-weight: bold;">2012’ </span></span></b><b><span style="color: #c0504d; font-size: large;"><span style="color: #c0504d; font-size: 20pt; font-weight: bold;">FHA</span></span></b><b><span style="color: #244061; font-size: large;"><span style="color: #244061; font-size: 20pt; font-weight: bold;"> Waiting Guidelines</span></span></b><o:p></o:p></div>
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<b><span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt; font-weight: bold;">Bankruptcy</span></span></b><span style="color: #244061;"><span style="color: #244061;"> – You may apply for an FHA insured loan after your bankruptcy has been discharged for TWO (2) years with a Chapter 7 Bankruptcy.</span></span><o:p></o:p></div>
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<span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">You may apply for an FHA insured loan after your bankruptcy has been discharged for ONE (1) year with a Chapter 13 Bankruptcy</span></span><o:p></o:p></div>
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<b><span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt; font-weight: bold;">Foreclosure </span></span></b><span style="color: #244061;"><span style="color: #244061;">- You may apply for an FHA insured loan THREE (3) years after the sale/deed transfer date.</span></span><o:p></o:p></div>
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<b><span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt; font-weight: bold;">Short Sale / Notice of Default</span></span></b><span style="color: #244061;"><span style="color: #244061;"> – You may apply for an FHA insured loan THREE (3) years after the sale date of your short sale, if you had mortgage lates. FHA treats a short sale the same as a Foreclosure for now. If you did not have mortgage lates and did what is called a “non delinquent” short sale, you may be eligible to purchase again right away with no waiting period. </span></span><o:p></o:p></div>
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<b><span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt; font-weight: bold;">Credit must be re-established</span></span></b><span style="color: #244061;"><span style="color: #244061;"> with a minimum 620 credit score</span></span><o:p></o:p></div>
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<strong><b><span style="color: #244061; font-family: Times New Roman; font-size: large;"><span style="color: #244061; font-size: 20pt;">2012’ </span></span></b></strong><strong><b><span style="color: #c0504d; font-family: Times New Roman; font-size: large;"><span style="color: #c0504d; font-size: 20pt;">VA</span></span></b></strong><strong><b><span style="color: #244061; font-family: Times New Roman; font-size: large;"><span style="color: #244061; font-size: 20pt;"> Waiting Guidelines</span></span></b></strong><o:p></o:p><br />
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<strong><b><span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">Bankruptcy</span></span></b></strong><span class="apple-converted-space"><b><span style="color: #244061;"><span style="color: #244061; font-weight: bold;"> </span></span></b></span><span style="color: #244061;"><span style="color: #244061;">– <a href="http://www.blogger.com/" name="OLE_LINK2"></a><a href="http://www.blogger.com/" name="OLE_LINK1">There is no waiting period to apply for a VA loan, assuming credit has been re-established and you have a 620-640 credit score.</a> </span></span><o:p></o:p></div>
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<strong><b><span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">Foreclosure</span></span></b></strong><span class="apple-converted-space"><b><span style="color: #244061;"><span style="color: #244061; font-weight: bold;"> </span></span></b></span><span style="color: #244061;"><span style="color: #244061;">- There is no waiting period to apply for a VA loan, assuming credit has been re-established and you have a 620-640 credit score.</span></span><o:p></o:p></div>
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<strong><b><span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">Short Sale</span></span></b></strong><span class="apple-converted-space"><b><span style="color: #244061;"><span style="color: #244061; font-weight: bold;"> </span></span></b></span><span style="color: #244061;"><span style="color: #244061;">- There is no waiting period to apply for a VA loan, assuming credit has been re-established and you have a 620-640 credit score. (Unless the short sale was a VA loan then restrictions may apply)</span></span><o:p></o:p></div>
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<strong><b><span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">Credit must be re-established</span></span></b></strong><span class="apple-converted-space"><b><span style="color: #244061;"><span style="color: #244061; font-weight: bold;"> </span></span></b></span><span style="color: #244061;"><span style="color: #244061;">with a minimum 620 credit score</span></span><o:p></o:p></div>
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<strong><b><span style="color: #244061; font-family: Times New Roman; font-size: large;"><span style="color: #244061; font-size: 20pt;">2012’ </span></span></b></strong><strong><b><span style="color: #c0504d; font-family: Times New Roman; font-size: large;"><span style="color: #c0504d; font-size: 20pt;">Conventional</span></span></b></strong><span class="apple-converted-space"><span style="color: #244061; font-size: large;"><span style="color: #244061; font-size: 20pt;"> </span></span></span><strong><b><span style="color: #244061; font-family: Times New Roman; font-size: large;"><span style="color: #244061; font-size: 20pt;"><a href="https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf" target="_blank" title="blocked::https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf
https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf
FNMA waiting guidelines"><span style="color: #244061;" title="blocked::https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf"><span style="color: #244061;" title="blocked::https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf"><span title="blocked::https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf
https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf">Waiting Guideline</span></span></span><span style="color: #244061;" title="blocked::https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf"><span style="color: #244061;" title="blocked::https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf">s</span></span></a></span><a href="https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf" target="_blank" title="blocked::https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf
https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf
FNMA waiting guidelines"><span style="color: #244061;" title="blocked::https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf"></span></a></span></b></strong><span class="apple-converted-space"><span style="color: #244061; font-size: large;"><span style="color: #244061; font-size: 20pt;"> </span></span></span><strong><b><span style="color: #244061; font-family: Times New Roman; font-size: large;"><span style="color: #244061; font-size: 20pt;">(Fannie Mae)</span></span></b></strong><o:p></o:p><br />
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<strong><b><span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">Bankruptcy</span></span></b></strong><span class="apple-converted-space"><span style="color: #244061;"><span style="color: #244061;"> </span></span></span><span style="color: #244061;"><span style="color: #244061;">– You may apply for a Conventional, Fannie Mae loan after your bankruptcy has been discharged for FOUR (4) years.</span></span><o:p></o:p></div>
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<strong><b><span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">Foreclosure</span></span></b></strong><span class="apple-converted-space"><b><span style="color: #244061;"><span style="color: #244061; font-weight: bold;"> </span></span></b></span><span style="color: #244061;"><span style="color: #244061;">- You may apply for a Conventional, Fannie Mae loan SEVEN (7) years after the sale date of your foreclosure. Additional qualifying requirements may apply,</span></span><o:p></o:p></div>
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<strong><b><span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">Short Sale / Deed in Lieu of Foreclosure</span></span></b></strong><span style="color: #244061;"><span style="color: #244061;"> -<span class="apple-converted-space"> </span></span></span><o:p></o:p></div>
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<span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">TWO (2) Years up to Maximum 80% Loan to Value | 20% Down Payment</span></span><o:p></o:p></div>
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<span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">FOUR (4) Years up to Maximum 90% Loan to Value | 10% Down Payment – Subject to Private Mortgage Insurance underwriting guidelines.</span></span><o:p></o:p></div>
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<span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">SEVEN (7) Years above 90% Loan to Value | with less than 10% Down Payment – Subject to Private Mortgage Insurance underwriting guidelines.</span></span><o:p></o:p></div>
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<strong><b><span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">Credit must be re-established</span></span></b></strong><span class="apple-converted-space"><span style="color: #244061;"><span style="color: #244061;"> with a minimum 660 credit score</span></span></span><o:p></o:p></div>
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<span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">Fannie Mae has reduced waiting periods in cases of extenuating circumstances – The death of a primary wage earner seems to be the only one I have been able to identify up to this point.</span></span><o:p></o:p></div>
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<b><span style="color: #c0504d; font-family: Times New Roman; font-size: large;"><span style="color: #c0504d; font-size: 16pt;">What to do in preparing to buy again after bankruptcy (BK), short sale or foreclosure?</span></span></b><br />
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<span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">You should begin<span class="apple-converted-space"> </span>with a credit review, at least six (6) months before you are ready to buy again.</span></span><o:p></o:p></div>
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<span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">Quite often there are things left over on your credit report that can delay your ability to qualify.</span></span><o:p></o:p></div>
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<span style="color: #244061; font-family: Times New Roman; font-size: small;"><span style="color: #244061; font-size: 12pt;">With a little head start and good advice, we can get your credit in line to qualify for financing and be ready to buy again.<o:p></o:p></span></span></div>
12:45Teamhttp://www.blogger.com/profile/17356329506190399159noreply@blogger.com