The-Short-Sale-Expert.com

February 14, 2008

Another Bradenton, Florida Short Sale Offer Approved Today!

Filed under: Short Sale Posts — danvforbes @ 4:20 pm

 Working short sales and pre-foreclosures is an arduous task for any Realtor.  The reward is when the lender sends you an Joyapproval letter which says they accept the offer.  That happended again today.  Yippee!

By default I have become known as a short sale expert.  It wasn’t something I sought after, I have just been applying myself to my real estate business and trying to help as many people as I can in our Bradenton Florida Real Estate market.  I’ve even created a special educational web site:

THE-SHORT-SALE-EXPERT.COM

In January 2008 there were 408 foreclosure filings in Manatee County Florida.  This is four times the number of filings in 2007. There isn’t a day that goes by that I don’t speak with a homeowner in distress.  So, it’s a great “rush” when a transaction is approved.

Now, we have 30 days to close the transaction.  This shouldn’t be a problem since the buyer is pre-approved and really wants the home. 

(Copyright © 2008 By Dan Forbes, All Rights Reserved.)

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January 31, 2008

Keep Track of Short Sale Files

Filed under: Short Sale Posts — danvforbes @ 12:21 pm
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I’ve been working on a flow chart to keep track of the progress with my short sale files.  If you take a look at the flow chart below you’ll see some of the items that must be completed.

Short Sale Flow Chart

(Copyright © 2008 By Dan Forbes, All Rights Reserved.)

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January 14, 2008

What Do I Do? I Am Unable To Pay My Mortgage.

Most Common Question: “What do I do? - I can’t pay my mortgage”

As an attorney, I receive plenty of telephone calls and visits from people that are no longer able to pay their mortgage on their home or investment property.  They all have endless questions and usually tell me they are getting all sorts of advice that they don’t like.  They come to me to find their BEST solution, and I suppose they hope I am some sort of magician that can create an answer that they like.

The analysis of the problem is the first order of business….

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January 4, 2008

Loss Mitigation Departments Receiving 100-150 New Files Per Day

Filed under: Short Sale Posts — danvforbes @ 4:34 pm
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Yesterday I was following up on a short sale offer and package I had previously faxed to a lender.  The package Busy Personwas 82 pages in length and included all the items requested from our Bradenton, Florida homeowner. The Seller, the cooperating agent, and the Buyer knows this may be a lengthy process.

I was taken back a bit when the lender’s representative said their loss mitigation department is receiving 100 - 150 such packages a day!  They are completely swamped.  I’m wondering how on earth they are handling this unprecedented problem.

One Title Company representative I spoke to yesterday said he thinks a lot of banks are just letting properties go into foreclosure because they can’t handle the short sale workload.  Also, that they are thinking prices will be higher in the months ahead.

(Copyright 2008 by Dan Forbes, All Rights Reserved)

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December 23, 2007

How to Avoid Being Swallowed By An Anaconda; Or, How to Avoid Foreclosure

Filed under: Short Sale Posts — danvforbes @ 11:10 am
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This post contains a link to photos of a man having been swallowed by an Anaconda. There are no photos in this post for the sake of sensitivity. I’ve been working with a lot of short sale clients and I often picture our current foreclosure problem in the housing market like a pig having been swallowed by an Anaconda.  It is just going to have to work its way through the beast.

I recently came across this advice on what to do if you are attacked by an Anaconda.  This is an excerpt from the U.S. Government Peace Corps Manual for volunteers working in the Amazon jungle - what to do if an anaconda attacks you.
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