Study: Home staging does make a difference in the value of your home

Most homeowners know it is important to keep a home clean, bright and free from clutter while it is on the market for sale. But sometimes, Realtors® say, taking the extra step to stage a home can make a difference in how a buyer values it and the price a seller might get for it.

Making an Offer on Short Sales and Foreclosures

Who Calls the Shots On both a Short Sale and a Foreclosure property, the Bank holding the mortgage is the one who calls the shots. In a Short Sale scenario the homeowner may still be involved but the Bank either accepts or rejects the offer. On Short Sales, many Banks have begun establishing the price […]

Understanding HAFA and HAMP

HAFA and HAMP are government programs initiated to reduce the negative impact of the falling housing market on the economy. They are programs that relate to GSE (Government Sponsored Enterprise) Mortgages such as FHA and VA. HAMP – Home Affordable Modification Program / a Loan Mod Program Within the HAMP program, servicers apply a uniform […]

What is in my Short Sale Package?

The short sale package is extremely important. Although a simple list (like below) is helpful, having the proper formatted paperwork is crucial. I will assist you in preparing the Hardship Letter and the Financial Statement to make sure you have provided all of the necessary information. My short sale package is designed to ensure there […]

What is Deed in Lieu of Foreclosure?

Instead of waiting for foreclosure, some property owners may just give back the deed to the lender and walk away. Deed in Lieu of Foreclosure is not a right of owners, the lender must agree to it. If they do, there will not be a short sale. The property becomes bank owned and the lender […]

What is the FHA Loan Modification Program?

The government has introduced an FHA loan modification program with these key features and differnces: Incentives: Incentives to the lender to modify under the program are up to $1250.00 Principal Reduction: Under the FHA plan, mortgage servicers can reduce the amount of principal on which the borrower must make loan payments by as much as […]

What is Mortgage Modification?

A lender may agree to a solution that will make the homeowner‘s loan more affordable. A screening interview and certain paperwork and documentation will be required to determine if the homeowner qualifies for the loan modification program. Typically, there are two types of loan modification: 1. Rate and Term Change 2. Modification of the Current […]

What is Right of Redemption?

A standard feature of the foreclosure process is the right of redemption. It means that, in the unlikely circumstance that the seller can come up with the full amount in arrears and bring the loan to current (including any penalties due), the homeowner can keep their home.

What is Forbearance?

An agreement to postpone or reschedule payments in a way that allows the homeowner to catch up. A mortgage modification is a form of forbearance on the lender’s part.

Our Short Sale Process

I employ a short sale process that is unmatched in the industry. This process was developed by Knolly Williams who is a top producing agent with Keller Williams Realty in Austin, Texas. Since 2004, Knolly has successfully closed more than 450 short sale transactions and has achieved a 95+% success rate with short sale approvals. […]