Sunday, April 28, 2013
Saturday, March 9, 2013
Understanding your options when you have a Wells Fargo mortgage is critical to your financial future. Deb Orth, a Richmond, Virginia short sale specialist makes it her priority to be up to date on the various changes or enhancements made to shortt sale programs by the various lenders.
In an attempt to continually refine the short sale process Wells Fargo has recently made some changes to it's short sale program to help the homeowner and real estate agent get through a more fluid short sale process.
With a short sale you may have the option to sell your home for less than the amount owed on your mortgage. By doing this, you may be released from your obligation to pay back your primary mortgage under its original terms. And as your mortgage servicer, Wells Fargo Home Mortgage may accept the proceeds of the sale as payment in full. This option can help you avoid a foreclosure sale and may be considered even if the foreclosure process has started.
Depending on your situation, you may be eligible for a short sale through the federal government’s Home Affordable Foreclosure Alternatives program, or through a different program.
As the homeowner, you:
- Avoid a foreclosure sale — in some cases the foreclosure sale may be postponed once a written, signed offer is received and approved by Wells Fargo Home Mortgage
- Can live in your home until the new owner closes, giving you time to make other living arrangements
- May be released from your obligation to repay your mortgage balance
To get the process started, call to discuss a Richmond, Va. short sale with Deb Orth, your Richmond, Virginia short sale specialist. Deb will consult with her contacts at Wells Fargo to determine what short sale program you may qualify for. This is what you can expect:
- You'll provide Wells Fargo with your financial information, explain your situation and why you are unable to make your mortgage payments.
- Wells Fargo will review your information and determine if your mortgage qualifies for a short sale.
- If your mortgage qualifies, they work closely with you Deb Orth, your Richmond, Virginia short sale agent to determine an acceptable sales price and the amount of time you have to list and sell your home. Together, we’ll work through the details and steps to sell your home at an agreed-upon price so you can avoid a foreclosure sale.
- If you qualify for their Fast Track program, the amount of financials you have to provide are significantly diminished.
- Please keep in mind that the buyer of your home may not be anyone you have a close relationship with, including family or friends. This is referred to as an Arms Length transaction.
Under the new servicer guidelines outlined by FHFA (Federal Housing Finance Agency) on November 1, 2012, all servicers, including Wells Fargo, are required to review and respond to all short sale requests within 30 days of receiving a complete short sale package. The servicer is also required to render a final decision within 60 days of short sale application.
For more information on how Deb Orth, your Richmond short sale agent, can help you with a Wells Fargo or any other lender short sale, call Deb at (804) 482-1252.
Wednesday, July 4, 2012
Very important for Bank of America homeowners in Richmond, Virginia considering a short sale: Bank of America is offering an enhanced Relocation Assistance Program in which some sellers could get UP TO $30K in relocation assistance. Richmond, VA. home sellers need to act quickly because the program expires at the end of the year. Homeowners in Richmond, VA who want to know if they are eligible should contact me for more information. Follow us for more important short sale updates at www.MyRichmondShortSaleSpecialist.com
Wednesday, June 27, 2012
In the news, there is talk of a housing recovery. Experts feel more optimistic about the state of housing industry in America. However, if you or someone you know is one of the millions of homeowners who is stuck with a home on which you owe more than the property is worth, the feeling of helplessness can be overwhelming and frustrating.
Many people don’t realize that just because they are in danger of losing their home to foreclosure doesn’t mean they have to wait around for it to happen. With help, they can take matters into their own hands.
As an agent who has been working with homeowners in distressed circumstances, I make it my business to know all of the ins-and-outs of the options that are available for people who are in danger of losing their homes and help the challenges head-on.
Take a look at the information at Richmond Short Sales and then Contact me today to schedule a free, confidential consultation.
Monday, May 14, 2012
Saturday, January 28, 2012
Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled.
But upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll. Since 2007, 7.9 million homeowners have lost their homes to foreclosure. Current estimates are that one in four homeowners owe more on their mortgages than they could get from the sale of their home. Millions more homes will be lost to foreclosure before this real estate crisis runs its course.
The sad fact is that foreclosure is not an isolated event. For months leading up to the loss of a home, financially strapped homeowners live under a cloud of uncertainty. And then for many years afterwards, the blow to credit gets in the way of buying another home or buying anything on credit. Foreclosure even complicates employment prospects.
The impact of foreclosure is huge and the sad fact is that it’s often avoidable.
As a real estate professional who has been specializing in helping homeowners in distress, my goal is to provide financially strapped homeowners with options to foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.
Among the most important facts to keep in mind: the sooner help is sought, the better the options.
These are tough times, but more help is available than ever before. If you or someone you care about is ready to navigate away from the dark cloud of an unmanageable mortgage and realize that hope and blue skies are within reach, contact me today and let’s get started.