Cape Coral Short Sale Expert

Port Charlotte Florida Bank Short Sale ! Short Sales and Bank Owned Property Specialist ! Talk to "Broker Joe" ! 

 

Cape Coral / Port Charlotte Florida Real Estate written by Joe Kendall, Broker Associate with Right Choice Realty. The local real estate market here in southwest Florida remains a great place to find some amazing deals of pre-foreclosure deals ! These shorts sales deals are waiting for the right buyer to take advantage of deals like this home pictured above.

This home is located in Port Charlotte Florida and is a 3 Bedroom, 2.5 Bath Pool Home with over 2100 sq. ft. of living area under air! The open floor plan, soaring ceilings, and amazing kitchen will have you speechless about the unbelievable deals here in the Port Charlotte / Cape Coral area in southwest Florida

Search Hunderds of Bank Short Sale and Bank Short Sale Property BY CLICKING HERE

 

Port Charlotte Florida. Short Sale Expert Questions to ask written by Joe Kendall, Broker Associate with Sandals Realty. Here is a short list of questions you should ask the listing agent prior to making a contract offer on a bank short sale. Asking the right questions to the listing agent can go a long way to greatly increasing your chances of  getting an accepted offer and saving your client a lot of hopeless time waiting on a reply from the bank. 

These questions Your Buyer Broker should ask the listing agent there will help you decide what homes are truly a waste of your time.

(1) How far behind is the Seller on the mortgage payments? Most mortgage companies will not get serious about an offer unless the seller is at least 4 months behind in the mortgage and the bank has already started the process for foreclosure proceedings. 

(2) Has the Seller submitted all the required documents to the Lender? The lender will not even give the Listing Agent a reply with out all the sellers required documents. Some banks want the seller required documents and your offer submitted or all at one time. Just knowing the listing agent has all the documents in their file ready will speed up the process.

 (3) What kind of discussions have you had with the Lender ? This question puts the listing agent on the spot and opens up discussions. You should be able to tell if the listing agent is in tune with the file and the bank. If the listing agent is without a direct line to the assigned Loss Mitigation Officer to the file would in most cases result in a longer then normal reply on your offer.

(4) Dose the Seller have a First and a Second Mortgage ? Is the second  it with the same Lender? It takes more time to close a bank short sale with two mortgages and is even more difficult if it involves two different Lenders, the the chances of the deal are greatly reduced, yet some do close but expect a longer wait.

(5) Dose the Seller have PMI ( Private  Mortgage Insurance ) on this property?  Many times this comes out in the very end of settling the short sale , So ask it up front before making the offer. More often then not, the Investor that bought the insurance, will require a promissory note for the balance on his investment, before accepting to close the deal. Most of the time they will not remove their portion of the debt on the property, if the seller can not come to so terms on a cash or a payment plan, the mortgage will not be able to be released from the mortgage regardless of the contract price.  

There are some very good deals on homes that are listed as a bank short sales. They normally do not receive as many multi contract offers like bank owned property. Which currently is happening here in Charlotte County located in southwest Florida.

We would suggest you don't shy away from the bank short sales! Find a Realtor that has experience in purchasing and closing bank short sales. You just need to start these simply discussions with the listing agent and the answers to these questions, This will give a you a better understanding on the direction you should take with your home buyer. 

 

 * FREE Bank Short Sale advice Port charlotte, Punta Gorda Southwest Florida. I have succeefully closed several bank short sales !

              

Joe Kendall, Realtor with Sandals Realty a Waterfront , Foreclosure and Bank Short Sale Specialist writes,  I help a lot of people avoid foreclosure.

  I get a lot of questions and listen to statements from people owning homes here in the Port Charlotte- Punta Gorda and Cape Coral area located in southwest Florida. Here are a few examples of calls I received over the last few weeks. 

(1) I have tried talking to my Lender, but they are saying there is nothing they will do, other then ask me when will I be making my next mortgage payment? What's next for me?

(2) I have an adjustable rate mortgage and it went up to where I can no longer afford the payments? What can I do to get them to change it?

(3) I owe more then $350,000 more the what the house is worth. What can I do to get the mortgage company to change it so I can afford to keep my home?    

(4) I want my mortgage company to give me loan modification and they told me know they can not do this? Why? 

 

Over 80% of the home owners trying to do a Loan Modification end up avoiding Foreclosure or by closing on a the Short Sale. But I will make one thing very clear to you the Banks would rather do a short sale then spend money on foreclosure hearings and bid on the property again at the court house steps against hundreds of online investors.

 I am a good listener and I will try to help you if I can. You may be able to avoid Foreclosure and help you sell your home as a Short Sale.

I have successfully closed short sales with Bank Of America, Chase, Wells Fargo, cit ti Bank , Litton Loan services, GMAC, Capital Bank and many more.

Charlotte County Short Sale Expert | HAFA Cash at Closing s | Bank of America Chase Bank. Talk to Broker Joe with Sandals Realty Phone 239-560-0726

 

 

Port Charlotte Florida. was you Loan Modification denied by your lender? Are you facing a possible foreclosure situation? I can help you avoid foreclosure !

Foreclosure Advice written By Joe Kendall, Broker Associate with Sandals Realty. The Hardship Letter is the most important and is a major factor in getting your short sale approved by your lender along with your  documentation supporting this letter. ( I can go over this when we talk in Person)

I would like to give you some tips in how to write a hardship letter to your mortgage lender greatly improving your chances of the bank understanding your own personal situation.

Remember you are composing the "hardship letter" for your bank or your mortgage servicing company, do not write a book because most likely it will not get the attention your trying to receive from the lender. The person that is going to read this is someone that understands general information that is factual.

Please Keep it to one page (Do Not Type It , but write it out with an ink pen or print the letter out in ink, again Do Not Type This Letter !) be right to the point, put the emotional aspect  in the beginning and in the closing your message.

Here is an example list of hardships that lenders consider:

        Illness  (explain before and after effects)

• Loss of Job ( what income you made before and now current, explain in the unknown future if it's unclear. 
• Reduced Income (what you made before and what is now current )
• Failed Business   ( how much was invested, how much money was lost and how this has impacted you currently)
• Job Relocation ( forced to relocate ( current mortgage payment and what your new mortgage payment will be in our new location ) show your current income can not support two homes in a simple math problem)
• Death of Spouse or C0-Borrower
• Death (supporting documents )
• Divorce (support documents )
• Marital Separation (how this has impacted your ability to pay all your current bills )  
• Reduced Income (what was it before and now )
• Medical Bills   List all the bills current and future balance , list how much money you are currently behind)
• Damage to Property (natural disaster or unnatural)

Here I explain in detail more about what may qualifty you for a short sale. Click Here

Now that you understand what your lender or servicer is looking for, it’s time to sit down and write a hardship letter. . Make sure you make it unique to your personal situation. Do not talk about local or national media issues, make it very personal coming from your heart.

 Remember that your hardship letter is a very important part of the workout process.

 Example Hardship Letter:

 Name: (Your Name)

 Address: (Your Address)

 Lender Name: (Your Lender)

 Loan #: (your Loan #)

 To Whom It May Concern:

 I am writing this letter to explain my/our unfortunate set of circumstances that have caused us to become behind in our obligation to maintain our current mortgage payments . We have done everything in our power to make ends meat but unfortunately we have fallen so far behind that it looks very bleak so we are asking for your help. (ADD YOUR PERSONAL, EMOTIONAL FEELINGS HERE )

We would like you to consider working with us to modify our loan or doing a bank short sale. Our number one goal is  to keep our home and we now have come to conclusion our dream home and all we have worked for our in-tire lives is coming to end end and we have to come to terms with this. Please understand it's very hard and we did not ask for ourselves to be in this situation we are in today.

 The main reason that caused us to be so far behind is ( insert the No 1 reason here and be to the point   ) Soon after being late and our income not being no where near enough, we had fallen further and further behind. It’s now to the point where we cannot continue to catch up or pay what is owed to you. It has always been in the past and up to now,  to fully meet our monthly obligations to pay what we owe and stay current. But at this time we have exhausted all of our income and resources so we are asking for your help.

 

(The approximate date start of the hardship, we believe that our situation is ? on future timetable is ? )

 

Our situation has got-ton worse because (reason here) and we feel that if you could rework our loan balance and mortgage payment or agree to do a short sale? We feel this  would benefit us and (the name of the lender here). We would appreciate if you can work with us to lower or delinquent amount owed and or payment so we can keep our home and also afford to make amends with your firm.

 

We truly hope that you will work with us and together we can get this settled so we all can both move on.

 

Thank-You for your time in considering me and my family's  under these hard and difficult times

 

 

 

Borrower’s Signatures

 

 

 

Date

 

 

 

Co-Borrower’s Signature

Port Charlotte short sale expert. Experience in Hafa short sales and cash at closing with Chase and Bank of America.