Short Sale or Foreclosure?
A Great Lender Helps From Start to Finish, Especially in a Short Sale
January 11, 2012 by Gabrielle · Leave a Comment
One of the very first steps in the home buying process is determining how a Buyer will pay for their new home. Not only must a Buyer determine much they can afford, but how an offer must be structured–whether closing costs must be paid by a Seller, gift funds will be used for a down [...]
Short Sales and 2012
December 30, 2011 by Gabrielle · 1 Comment
By all indications, it appears that 2012 will be a year with even more short sale listings … and closings than 2011. Some of the major banks have embraced the idea that short sales can be a bit more profitable than letting houses sit for months on end and then ultimately end up in foreclosure. [...]
Mediation?–Yes, You’re Entitled!!
December 14, 2011 by Gabrielle · Leave a Comment
Yesterday I posted information about what to do as soon as you fall behind in your mortgage payments. As a second step in the foreclosure process in Washington State, the Foreclosure Fairness Act stipulates that if your loan is through one of the big banks, after receiving notice that a Notice of Default has been [...]
Just Open the Mail!
December 13, 2011 by Gabrielle · 1 Comment
In Washington State, folks that get behind on their house payments have options as described in the Foreclosure Fairness Act. The Act prescribes a series of steps to which a homeowner is entitled prior to any auction of their home. One of the first steps a lender must take for a home in Washington is [...]
Fix the Housing Market = Fix the Economy
October 7, 2011 by Gabrielle · 4 Comments
I know … I’m often considered naive in my “political” opinions. Probably rightly so most of the time. After all, I’m just a hard-workin’ self-employed real estate broker out here in south King County, home of the working folks. Most of us go to work every day doing whatever it is that needs to be [...]
Facing a Foreclosure or Short Sale?
October 6, 2011 by Gabrielle · Leave a Comment
The Washington State attorney general’s office recently released three videos that explain your rights and options should you be facing a foreclosure or short sale of your home. As an active Realtor®, I frequently receive phone calls from people that are already behind on their payments, or feel as though they will soon be in trouble [...]
Foreclosure Statistics – Auburn, WA
October 20, 2010 by Gabrielle · Leave a Comment
I was directed to a Web site this morning called Foreclosure Radar. Like most sites of this sort, its aim is to get real estate agents to subscribe to their service (for a fee) with referrals to be directed from the site back to the fee-paying agents. I typically avoid these sorts of things as [...]
Dear Bank — Can I buy my own short sale house?
October 12, 2010 by Gabrielle · 3 Comments
Dear Bank President: See here’s the thing. Like much, if not MOST, of the country, the value of my house has dropped substantially. So has my income, but I’m STILL WORKING! Of course my income is now only about 2/3rds of what it was when I bought my house because I had to take a [...]
HURRY! — JP Morgan Chase — Strugging Homeowner Event TODAY
September 30, 2010 by Gabrielle · Leave a Comment
Buried deep in the newspaper yesterday was an announcement that JPMorganChase Bank is holding an event TODAY, September 30th, for homeowners struggling to make their house payments for Chase and EMC mortgages. Being held from 11am – 5pm at the Chase Homeownership Center, 16400 Southcenter Parkway, Suite 200 in Tukwila, homeowners should bring their most [...]
The Business of Short Sales in Auburn, WA
September 17, 2010 by Gabrielle · Leave a Comment
Short sales are a huge part of our area’s current listing inventory and sales statistics. They’re difficult transactions and time consuming. They require specialized knowledge and dedication to the task in order to be successful. They also require impeccable business practices and an adherence to the highest of ethical standards. The business of real estate [...]
Auburn Sales Activity for August 2010
September 8, 2010 by Gabrielle · Leave a Comment
Just in time for the start of school, 55 sales closed with Auburn addresses during the month of August, 2010. Here’s the breakdown: Residential Sales are Single Family Homes, Manufactured homes are those within parks, not on private land. Of those closed 39 single family home sales, 14 were bank owned, while 6 more were [...]
Help for Underwater Homeowners?
August 16, 2010 by Gabrielle · Leave a Comment
Almost everyone I talk with these days is … as I am … backwards on their home loan-to-value ratios. Many of us bought our homes in the early 2000′s and then even refinanced them or added home equity loans somewhere in the 2005-2007 days, bringing our total home loan indebtedness to a number that is [...]
What is a Deed-in-Lieu?
August 12, 2010 by Gabrielle · Leave a Comment
A Deed-in-Lieu of Foreclosure is a process where the lender agrees to take the deed to your home rather than pursue a foreclosure action against you for nonpayment of your loan. This option is easiest where there is only one mortgage, and where there are no other liens. Depending on your lender, a payment might [...]
Sometimes a Short Sale is Just NOT the Right Answer!
August 9, 2010 by Gabrielle · Leave a Comment
I like to consider myself a resource for sellers who are considering their options. Should they pursue a short sale? Should they just walk away? Should they just try to hang on no matter what? Recently I had an opportunity to meet with a wonderful couple that were truly truly trying to do “the right thing,” [...]
Is a Loan Modification for Me?
August 9, 2010 by Gabrielle · Leave a Comment
A number of considerations should be made when you are either in trouble already with your current mortgage, or anticipate that you might be soon. One excellent option might be a loan modification, which is designed to reduce the amount of your mortgage payment to no more than 31% of your gross income. Unfortunately as [...]
