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 [...]
12 Reasons Why That House Might Not Qualify for FHA Financing
October 19, 2011 by Gabrielle · Leave a Comment
In my practice, FHA loans are used for the majority of home purchases. At the moment, without a doubt, an FHA 203(b) is the most logical choice. Credit score qualifications start at about 580 (depending on the lending institution involved), interest rates are awesome, the minimum down payment requirement is only 3 1/2%, closing costs run [...]
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 [...]
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 [...]
Should You Refinance Your Home?
August 9, 2010 by Gabrielle · Leave a Comment
If you feel you have sufficient income to continue making payments on your home, but need to lower the payments, one of the best choices — providing current interest rates are justifiably less than your existing rate — is to refinance the home. By refinancing, you may be able to remain with your existing lender, [...]
7 Tips for Short Sale Success
August 1, 2010 by Gabrielle · Leave a Comment
Another easy-to-understand article about selling short sales! Thanks to BuyAndSell.HouseLogic.com, By: G. M. Filisko, Published originally on March 19, 2010 Have to sell your home for less than it’s worth? Our seven tips will help you get the best price. When you owe more on your home than it’s worth, but you have to sell, you need to [...]
Auburn Area Mid-Summer Market Snapshot
July 20, 2010 by Gabrielle · 1 Comment
This morning’s quick Auburn Area Mid-Summer Market Snapshot shows that there’s a total of 361 active residential listings, for an average price of just under $300,000, with an average days on market of 139 days. Perhaps as expected, when comparing homes currently for sale (Active) to those under contract (Pending) to those where the sale [...]
Bank Took This One Back!
June 25, 2010 by Gabrielle · Leave a Comment
Links Photo Gallery Eating Nook & Corner of Kitchen Gas Fireplace in Family Kitchen w/newer counters Dining as seen from corner of Living room Bonus Room Master Bedroom Master Bath Back Deck Description The Bank took this one back and auctioned it for less than accept our much higher offer. Sometimes things [...]
