Chevy Chase, MD Short Sale Expert on What is a Short Sale?
Chevy Chase, MD Short Sale Expert says, it is a short sale when the owner of the property owes more on the loan than a property is worth. Top short sale experts from Chevy Chase, MD Short Sale Experts Dan and Traci Rochon together with their team negotiates with the bank who has that loan and ask them to take a lesser amount to get the property closed. The reason why the bank wants to short sale is because it has more money for them to hold the property than to go into foreclosure.
Bowie, MD Short Sale Tip on Short Sale Income Tax
Bowie, MD Short Sale specialist Dan Rochon talks about the Mortgage Forgiveness Debt Relief Act and Debt Cancellation from the IRS. The Mortgage Forgiveness Debt Relief Act of 2007 was designed to help homeowners by allowing a certain amount of tax relief on mortgage debt forgiveness, so that people who had fallen into arrears would have a more viable alternative to foreclosure on their homes. This Act expires at the end of 2012.
Connect with Bowie, MD short sale to stop foreclosure!
Fort Washington MD Short Sale Symposium
Fort Washington MD Short Sale symposium was organized in a cruise and it was a fun-filled experience for Dan Rochon’s family. Together with their team they attended the symposium and it was called “Short Sale Symposium at the Sea 2012.” The Virginia Short Sales real estate agents, shared their memorable experience in sharing and learning knowledge to different people who are hooked on Short Sale. The group is now looking forward for other opportunities in implementing what they have learned in the convention. Being able to join in a cruise may be one of the most remarkable moments of your life. Stop foreclosure in Fort Washington MD!
Read More
Top 9 Strategies to a Successful Short Sale
An essential basic rule to buying a short sale is to choose the best property and the right agent to stand for you. You do not want to make an offer on a short sale that will never close. The right agent can recommend to the best approach for success. Closing a short sale involves cooperation from all parties concerned.
Some buyers have made offers on short sales, and then waited as long as six months or more, only for the seller to be denied the short sale or of been foreclosed on.
Here are a few things your agent should ask when buying a short sale:
1) Who will be making the deal for the short sale? Be sure that whoever is transacting on the seller’s behalf is competent and experienced. Commitment from the seller’s representation is the #1 skill set that result in success in the negotiation. Be sure that the seller’s team is dedicated to the achievement of the short sale and that they will never give up on the deal.
2) In the last 6 months how many short sale transactions have they completed? You will have a better opportunity of closing a short-sale deal if the listing agent has knowledge doing short sales and has a plan for how to achieve a sale.
3) How many loans are on the property? The more liens on the property equal the more challenges.
4) Who are the lenders? Not all lenders are the same in regards to their willingness to cooperate.
5) How much is owed on the property? A bank will do a short sale if they are in a better situation than if they were to foreclose. In most cases, even if there is a great insufficiency, the lender will tend to agree to the short sale.
6) Has a Broker Price Opinion been completed? A BPO is the bank’s primary step in formulating the accepted amount that they will grant a short sale for. If they have already finished this step, then they are nearer to success.
7) Has the property previously been under contract with another buyer? If it has been, then it is expected that the long progression of the short sale has already begun. Properties that have already been under contract often have a better chance of getting approved.
Is there an imminent foreclosure date? You do not want to be in a situation to get under contract with a seller that will possibly lose their property to a foreclosure.
9) How many months behind on the mortgage are the sellers? The more behind on their payments the seller is the more likely that the seller will be foreclosed.
Consider that not all short sales are identical. Be sure that your agent gets the above data prior to writing an proposal on the, “Home of your Dreams”.
About the Author: Dan Rochon, specializes in Short Sale representation and selling luxury homes, Associate Broker in VA, MD at Keller Williams Realty, Alexandria, Kingstowne, VA, Co-Founder ofGreetingsVirginia.com, and media consultant for struggling home owners. Dan and his team have been featured on NBC Nightly News, The Today Show, CNBC, The Washington Post, The Washington City Paper, OutFront Magazine by Keller Williams Realty, WTOP News, The Washington DC Examiner, and other media publications.
Read MoreCrofton MD Real Estate Short Sale Experts. Stop Foreclosures
Hi everyone. My name is Dan Rochon Williams Realty and greetingsvirginia.com and I help short sale sellers in Virginia, Maryland and Washington D.C. Some of you may be wondering if you can be approved of a short sale if you have a high income. Well, the answer to this is “maybe”. There are a few things to consider before banks like Bank of America, Chase and Well Fargo get to approve of short sale. My job is to help you evaluate your financial condition to stop foreclosure of your real estate property in Crofton, MD and get that short sale approved. Banks are more inclined to approve short sales for high income earning people. So, even if you are in an upside down mortgage situtation but earns a relatively high income, I can help you get your short sale done.
If you are interested and need to talk with our short sale specialists about your financial condition, call us today and wel’ll help you. You can also fill out the form on this webpage and we will contact you shortly.
Read More
