Real Estate Westlake, Elyria, Avon, Ridgeville, OH

Westlake Short Sales: What is a HUD-1 and why does it matter on a short sale? Elyria OH –   Here is something that drives inexperienced short sale agents crazy. It is a HUD-1, also called a HUD. HUD is the Federal Agency, the Department of Housing & Urban Development, also called HUD. A HUD-1 is a document regulated by HUD. It ...

Westlake Short Sales: What is a BPO?   Elyria OH – If you have been reading about short sales, then you have probably heard the term "BPO" and wondered what it meant. BPO stands for Broker's Price Opinion. A Broker's Price Opinion is when a licensed real estate agent gives their opinion of the value of a property. ...

Elyria OH – The Stop Foreclosure Institute recently received a question from Luis. Here is Luis's Question. "I am working on a loan modification on my home. I just don’t want to be upside down and want a fair interest rate. Why should I pay on a mortgage that is twice as much as my home is worth, plus the interest on that ...

How Much Do You Charge For A Short Sale in Northern Ohio? Elyria OH –  We recently received a question from Tawny.   Here is Tawny's Question. "I have not been late on any payments but my income will be changing dramatically towards the end of the summer. What is your exact service and what are the fees involved? I ...

Elyria OH – Short Sales can be frustrating. It can take a long time for the lender to process everything and finally give the buyer an answer on their offer. Oftentimes, by the time the lender makes a decision, the buyer has gotten impatient and moved on to another property. Most lender short sale departments are overworked. That is why ...

Desperate Lenders Will Accept Any Offer?   Elyria OH – Have you heard the following myths about short sales? Myth #1: You can buy short sales for dirt cheap and then turn around and resell them for a profit. Myth #2: Foreclosures, Short Sales, and Bank Owned Homes can be bought for 30 to 50 cents on the dollar with no money ...

Elyria OH – A home owner thinking of a short sale recently asked us why they should short sale versus just walking away and letting their lender foreclose on the home. We gave them the normal answer: “It’s much better for your credit.” That was the first thing that popped into our head.   But, I knew there ...

Will I Owe Income Tax After A Short Sale?Elyria OH – This is one of the first questions potential short sale sellers ask us. “I heard of something called “forgiveness of debt income and that it is taxable. How does that work?” they ask.    The following article is my personal opinion only. I recommend that you ...

Westlake OH - The Stop Foreclosure Institute recently received a question from Christy. “Why would I do a short sale instead of saving the monthly payments and letting it go into foreclosure?” Christy asked. Here is the answer. If you stop paying your mortgage, then you can live in your home rent free for possibly ...

How GMAC Short Sales Work Westlake OH – GMAC, was the financing arm of General Motors. It was taken over by Uncle Sam and has been mostly privatized as Ally Financial. However, many people still have loans from the original GMAC. Some of these homeowners want to short sale, but are curious about how it works. Discover how other sellers ...