San Antonio Short Sale

San Antonio TX Short Sale Expert Realtors

Now that you have missed a payment on your mortgage you have late fees and it is even more of a hole that you have to dig out of to avoid the inevitable foreclosure. With fear among the many that their house might be next, homeowners look for hope. What some are unaware of is there are other alternative options available then foreclosures. So now you have some hope back, but what are some of these options? The most successful and permanent amongst the few is a  Texas short sale.

A short sale is allowed by the lender in having your home sold for less than the remaining balance; this is due to current market value on the home being less than when originally purchased. To qualify for a short sale you must have a hardship that set you behind, this is because a short sale is for those who are in desperate need of one.

San Antonio TX Short Sale Facts:

• Borrowers are not required to pay any money towards the short sale process. All the closing costs and San Antonio short sale Realtor fees are covered by the borrower’s lender.
• If you are concerned about your credit, you can drop 30 points each time your mortgage payment is missed. Starting the short sale process will help to shorten the amount of payments missed and help you recover from your score quicker.
• The average process is 6 months but has been known to be as short as 2 and as long as a year. Each process is as unique as the borrower’s situation.
• It is common for the deficiency to be forgiven though it is different for each lender and will have to be inquired on with your short sale specialist.
• You can receive incentives between 5-30k in cash back depending on the lender and their programs. These are additional to all HAFA incentives

HAFA is the Home Affordable Foreclosure Alternative, this is a government program made to help borrowers choose alternatives with incentives. Some incentives include 3k in relocation assistance.

Have questions? If you want to know more information on short sales or HAFA, or would like to know if you qualify for both contact your San Antonio short sale specialist today 1-877-737-4903.

www.Short-Sale-Specialists.com

877-737-4903

Ask a local short sale specialist!

Do you want to short sale your San Antonio TX real estate with expert Realtor? Our short sale specialists are here to stop San Antonio Texas foreclosure on your home by offering no cost San Antonio short sale services. All help is FREE help to San Antonio homeowners in financial hardships. Our San Antonio short sale specialist Realtors will work areas all over the state of TX.

Copyright First Coast Realty Associates 2011-Sharon Molnar

Is the Real Estate Market Improving?

Is the real estate market going to improve? This is a tricky question to answer. The real estate market depends on a lot of factors and therefore fluctuates a lot. Predicting where it is going week by week is difficult, forget a yearly prediction. The real estate market depends on how well the economy is performing as well as how much money a customer can afford to pay.

If the economy is down, there is no chance a person will purchase a house or invest money in real estate. Economic depression leads to a real estate market depression. After all, how do you think a person will pay for a new house if he or she is being laid off by their employers? Like in the year 2007, the depression had such huge impact, that the real estate market had crashed completely. The market prices were at the all time very low because of the financial crisis that the people were facing. But the people who were able to invest money at that time got huge profits. So, you can never say when the best time to invest is and when the best to sell is either.

But there are signs that can help you judge the mood of the real estate market. If you look closely, these signs will help you predict where the market is headed and when a good time to invest is. These signs are based on market analysis and comparisons done every year. Market conditions are compared to the years that have passed, and the conclusions are drawn based on present day scenarios. So here are some points that will help you predict the market. Please note that these points are based on observation and are not specific rules that the market follows.

Signs that Indicate an Improvement in Real Estate Market:

There are various signs that indicate a market is improving but here are a few prominent ones that are easily notable.

• Reduction in rate of Unemployment: If you are finding less people unemployed, you can be sure that the real estate market is improving. If people around you are finding jobs, temporary employees are being converted to permanent and laid off people are going back to work then you can rest assured about the improvement in the real estate market. This is one very basic and most noticeable sign of improvement of the real estate market.
• No More Sales: another indicator is when you do not see ‘for sale’ boards on the house. When people are not willing to sell their property, it indicates that their property is not underwater and hence, the real estate market is definitely improving.
• Increase in Median Sales Price: an increase in median sales price as compared to the last year indicates an improvement in the market. When the real estate market is in loss, the median sales prices keep going down, so an increase in it is a clear cut indication of growth and improvement.
• Properties Sell Faster: when you fail to notice for sale boards hanging outside a property for more than a month, you can assume it as the improvement in the market. No property sells fast when the market is in depreciation. The real estate market has to be in boom in order to sell and purchase properties quickly.
• Reopening of businesses: when a business that had closed its doors because of losses opens up again, it indicates an improvement in the market. This move indicates a recovery of the market and hence, indicates that it is the right time to invest in the market.
• Disappearance of Emergency sales: when you notice that suddenly selling and purchasing has become a laid back process and no one is in a hurry to sign papers, you can conclude that the market is improving. Usually when the market is going down, people demand an urgent settlement of the property so as to earn the maximum profit.
• Employment of real estate agents: one cannot look for a better pointer than this. If the real estate companies are hiring people, then the market is up, and if it is firing people it is definitely down. No real estate company will keep its full workforce when the market is down as nobody needs a real estate agent in the first place.
• Decreased lending rates: when the market is in a good condition, the lending rates automatically go down indicating that the market is booming.
• More Buyers in the market: when the real estate market is improving, one can find a lot of buyers in the market, otherwise selling a house will become a night mare. In the days of depression, finding a buyer is nearly impossible. So an increase in the number of buyers indicates an improvement in the real estate market.
• More sellers in the market: when the market is down; the only people to sell their houses are the ones who have to do it a reason. Otherwise who would want to settle down for half the price of their property? When the market falls, prices fall and nobody wants to sell a house for a loss.

If you look closely at all the above mentioned points, you will realize that all of them can be summed up into one point and that is; real estate market improves when the economy improves. So, keep a close tab on the economy and you will get the answer to the question: “Is the housing market improving?”

The information above is made to help better understand the market in which you are working in for whatever reason. Options available to homeowners including whether you’re on the fence about choosing to do a short sale is good to know as much information as possible about the current market.

For additional information on any of the topics for mentioned contact a San Antonio short sale specialist now! 1-877-737-4903

www.Short-Sale-Specialists.com

877-737-4903

Ask a local short sale specialist!

Do you need help with you short sale? Our San Antonio Short Sale Specialists are here to help, and are Certified and trained in the Texas Home Affordable Foreclosure Alternatives, or HAFA Government short sale program. Our stop Texas foreclosure specialists provide FREE short sale expert services to San Antonio homeowners in hardship. Call today to see if you qualify for a short sale! Need a San Antonio Distressed Property Expert in short sales to offer free short sale services?

Copyright First Coast Realty Associates 2011

How To Do A GMAC Mortgage Short Sale

Are you a GMAC homeowner and are facing foreclosure? You may be considering your options and would like more information on how to do a GMAC short sale. A short sale is where your lender accepts less than the balance on your home at the close of the sale. Take comfort you are with GMAC they have quick approvals and the ending terms are more than reasonable. So now what? Let’s create your short sale package:

Step 1: You must find yourself a GMAC Short Sale Specialist.

• These specialists are experienced in short sales and will provide short sale service, speak on your behalf as well as assist in the sale of the home at no cost to you. Having a short sale help is only beneficial. GMAC will typically pay for all the closing costs and brokerage fees. Call 1-877-737-4903 or visit www.Short-Sale-Specialists.com

Step 2: You will need to write a hardship letter.

• A hardship letter is a negative occurrence that was the culprit of your set back. Be its Illness, Loss of income, Death, Divorce, or Property damages.

Step 3: You will need 3 months of current bank statements.

• You may have more than one bank or your Co-Borrower or contributor and you use different banks. You will need to provide 3 months of current up to date bank statements from all banks available to you. This is to show that the income and assets you have are documented and are being used and spent on necessities and any other use will prove funds available for payment on mortgage.

Step 4: You will need 1 month of current paystubs.

• This is to prove all income, this is to show that you are not making more than you are claiming and this is all the funds available to you in your current situation. You must provide all borrowers stubs as well as proof from any contributor. This would be if paid weekly from 4-5 stubs. If paid bi-weekly (every other week) 2-6 stubs. If paid bi-monthly (the 1^st and the 15^th) 2 pay stubs. If paid monthly than the 1 stub. Any contributors will have to fill out a paper claiming amount contributed for the month and sign and date.

Step 5: You will need your last year’s tax returns and W-2’s.

• This is to show claim of all income of the last year if your struggle in payment has been for that long or is to show all income claimed prior to hardship. Make sure even if a copy of the tax return is sent over that all pages are sent with all pages signed. If Co-Borrower is not filed joint on tax returns, an additional return for that borrower will be requested.

Step 6: A financial statement will be requested.

• This statement will show income verse expenses. The remaining amount will prove qualification or not depending on the deficiency.

If you are interested in trying to qualify for a short sale with the GMAC HAFA program, you may contact your short sale specialist for GMAC HAFA program guidelines and additional help. The HAFA program has an incentive of $3,000.00 towards relocation assistance. Contact your San Antonio short sale specialist at 1-877-737-4903.

www.Short-Sale-Specialists.com

877-737-4903

Ask a local short sale specialist!

Are you looking for information on how to do a short sale with GMAC mortgage? Our GMAC short sale specialists are here to help, and are Certified and trained in the Texas Home Affordable Foreclosure Alternatives program. Our stop foreclosure specialists provide FREE short sale services to  homeowners. Call today to see if you qualify for a short sale.

Copyright First Coast Realty Associates 2011

San Antonio Distressed Property Expert

Are you a homeowner in distress and facing possible foreclosure? If so, you may be asking yourself, what can you do? You can locate a San Antonio Distressed Property Expert to answer any questions you may have and help you with the process. A Distressed Property Expert is a licensed real estate agent trained in foreclosure avoidance. They have the knowledge to assist homeowners in distress find a better solution.  Once you have found the right agent for you, they can inform you about the process of foreclosure, and explore your options.  To determine if your home is in distress, you should begin by knowing and understanding what the term means.

Distressed property is defined as any property that is under a foreclosure order, or is for sale by the bank/lender. When you have established that you are, in fact, a distressed home owner, it would be in your best interest to find a local expert to explain the different programs available to you.  Less than 1% of real estate agents are licensed Distressed Property Expert.  Every situation is unique, and the specialist you select will keep your specific needs in mind. They normally There are many different programs your agent may suggest as an alternative understand that the situation is emotionally and financially devastating for you and your family.  One of the choices you may be presented with is called a short sale and in recent years has been gaining popularity. When you owe more on your home than it is worth, your Distressed Property Expert can work with the bank or lenders to sell your home at the current value, rather than the amount owed.  Due to overwhelming market changes and financial crisis, the banks are more likely to negotiate a settlement.

The first step is to contact a Distressed Property Expert. This person or team will be representing you and negotiating on your behalf.  For this reason, be sure when selecting a Distressed Property Expert, they do have your best interest in mind. Next, you should determine what has caused you to fall behind financially with the creditor.  Often the banks or lenders will require the property owner to prove they have an economic or financial hardship that is preventing them from being able to pay the deficiency, or the difference in the amount owed and the value of property. In some cases they will have you prepare a letter or fill out a form explaining this hardship. The most important part, at this point, for the homeowner is to be thorough and organized when preparing the real estate short sale package. Based on the hardship and the creditor’s policy, some homeowners can apply for short sale even before they are in default.  Large creditor companies may have a special department to assist in evaluating the borrower’s application, which may speed up the process. Typically, it takes 30 to 60 days for a decision to be made between the lender and Distressed Property Expert.

If you are a homeowner in distress and feel like a short sale is an obvious solution for you at this time call your local San Antonio Short Sale Expert at   1-800-737-4903.

While it is important to have a trained short sale specialist there is no substitute for experience. To contact us today to get in touch with a experienced short sale specialist call 1-877-737-4903

www.Short-Sale-Specialists.com

877-737-4903

Ask a local short sale specialist!

Are  you trying to avoid a foreclosure on your San Antonio TX home? Our stop Texas foreclosure specialists provide FREE short sale expert services to San Antonio homeowners in hardship. Call today to see if you qualify for a short sale! Need a San Antonio Distressed Property Expert in short sales to offer free short sale services?

Copyright First Coast Realty Associates 2011-Sharon Molnar

While doing a short sale a number of people appear worried about how to recover from a short sale. Losing a home is no doubt a very difficult time, especially when combined with harsh consequences such as loss of credit score, becoming unable to purchase a new mortgage and many other penalties. It should be borne in mind that losing a home in a short sale is comparatively better than losing in a foreclosure because you are very likely to recover from a short sale in a shorter period of time.

Regularly Pay your Mortgage to Avoid Credit Loss:
Try not to be delinquent on your monthly payments before closing the short sale deal. It will be beneficial to you because in such cases lenders often overlook your remaining payoff and sometimes do not even report your deal with the credit bureau. Such deals are mentioned in the credit history as “paid as per agreement”. It would appear just like any other settled debt would rather than “Foreclosure“.

How to Rebuild your Credit Score:
However, if you have caused damage to your credit score after being deficient on monthly payments, you can still recover from a short sale given that you seriously work on building your credit back up. The effects of a Texas short sale on credit score is a variable phenomenon, depending upon the history of your mortgage payments and how good your credit was prior to doing the short sale.

It is to be noted that your already bad credit does not damage as much as if you have had a good credit score before the short sale. Either the case, you should not kick your heels in lamenting what has been done to your credit score. Instead, get ready immediately to rebuild your credit.

First, if you have obtained some other loans as well, just pay them on time without allowing any payment to be late. Since late payments can be very damaging to your credit score, try to be regular in making your payments.

Second, reduce the balances on all credit cards; it will be better if you bring your balance to the half of your credit card’s credit limit. The more reduced credit balance, the better it will be for earning a good credit score.

Third, acquire only secured credit cards that are supported by the security you provide to your bank. Since transactions on secured credit cards are regularly reported to the credit bureau, it will bring your credit score up in a short while.

Following the above steps will help you towards short sale recovery. Your credit score should improve within twelve months, and by the end of two years see yourself in a position to purchase another mortgage. All this will happen if you have worked and maintained your credit well since the short sale. Contact a San Antonio Realtor to better help you understand the recovery process after a short sale!

As more and more homeowners have found themselves behind on their mortgages, they have turned to other options such as loan modifications. Unfortunately, some alternatives to foreclosure are just short term solutions to a long term problem. A short sale on the other hand, is a more permanent solution.

A short sale can take place when a lender allows a borrower to sell their home for an amount lower than the loan’s remaining balance. This can only be done once the borrower has proven that they are no longer able to afford the property because of a financial hardship such as job loss, relocation, decreased income, vacant rental property, divorce, etc.

You will need an experienced Alamo Heights TX short sale Realtor to walk you through the short sale process. You will not be required to pay a dime out of pocket; all of your closing costs are paid by your lender.  In fact, in some cases borrowers receive cash back at closing to go towards relocation costs. Choosing the right short sale Realtor to have  by your side will ensure that you take advantage of every benefit offered to short sale sellers.

After a short sale, your credit will likely bounce back up enough within two years to qualify for a new loan. The transaction will appear as a settled debt rather than “short sale” or “foreclosure.” The biggest decrease to your credit score comes from missed mortgage payments rather than the short sale transaction itself. So start the process as soon as possible!

www.Short-Sale-Specialists.com

877-737-4903

Ask a local short sale specialist!

Are you looking for a Alamo Heights TX short sale Realtor? Look no further! Our stop Texas foreclosure specialists provide FREE short sale expert services to Alamo Heights TX homeowners in hardship. Call today to see if you qualify for a short sale! Need a Alamo Heights TX Distressed Property Expert in short sales to offer free short sale services? Our Alamo Heights TX areaDistressed Property Expert real estate agents are here to help, and are Certified or trained in the Texas Home Affordable Foreclosure Alternatives, or HAFA Government short sale program.

Our organization does NOT directly offer short sale or foreclosure rescue services in the state of Texas. CLICK HERE for more information on our services.

Copyright First Coast Realty Associates 2011

Homeowners vulnerable to a foreclosure often find themselves short in time in stopping the procedure. This can occur in circumstances like, when the borrower has failed at working out a decision in the last moment or was unable to make a plan in tension. When the home owners do not see any other option at such final moments, many of them opt for procedures that can stop San Antonio foreclosure or the public auction for a particular amount of time.

Keeping in touch with the bank from the time of initial defaulted payment is a best option in getting some procedures postponed including the sheriff sale date. Home owners who have cut contact with the lender may find this step difficult. But at the time of auction, it becomes necessary to contact the lender, as there are always chances of getting a positive response.

The bank will usually be ready to postpone the sheriff date and the actual foreclosure filing. The paper work can be held down for some time, if the client can assure the payment or interest within that period. This is because after filing the foreclosure there will be a hike in the interest. There may be extra expenses on the court and attorney and finding out a solution becomes more difficult. Third–party postponement can be considered a long term solution and the bank will likely be pleased to avoid foreclosure.

It is seen that the lenders adopt strict measures towards the end of recovery. Postponing dates will not be in their agenda, as they have waited for a reasonable amount of time. Even though keeping regular contact with the bank can help with some adjustments, one should not expect any dramatic liberation. One cannot save the house but the lender will not be interested in losing their clients under difficult situations. They may be will to give a couple of weeks’ time for a tension free transfer.

The foreclosure victims may even though need more weeks. Looking for a spare residence may prove advantageous with close approach of recovery time. This is because the mortgage lender will not allow long-term stays until recovering the money and getting qualified for a new mortgage. This is because the bank may wish to get the asset ready to sell, in order to recover the money back from the loan they gave, which has ended up in foreclosure.

The quicker way to postpone important time near to the foreclosure process is to inform the bank on your intentions. One should ask for some more time. This should be on the basis of the method’s success in persuading the officials for holding the procedure. The amount of time obtained does reflect on the communication carried out between the lender and the borrower. The foreclosure sufferers should start finding out solutions as soon as the financial difficulty is sensed. They should also work on choosing reliable and practical options on their own. In such cases, even if the plan fails, the bank will show a positive attitude worth the effort. Thus it helps in holding the procedure by giving the borrower more time.

If you decide that a Texas short sale is your best option, your bank will likely push back the foreclosure to allow you more time to short sale your San Antonio home. Of course you will need the help of a local San Antonio short sale Realtor to guide you through the entire stop foreclosure process.

www.Short-Sale-Specialists.com

877-737-4903

Contact a local short sale expert.

Are you looking for a San Antonio TX short sale Realtor? Look no further! Our stop Texas foreclosure specialists provide FREE short sale expert services to San Antonio homeowners in hardship. Call today to see if you qualify for a short sale! Need a San Antonio TX Distressed Property Expert in short sales to offer free Chase short sale services? Our San Antonio areaDistressed Property Expert real estate agents are here to help, and are Certified or training in the Texas Home Affordable Foreclosure Alternatives, or HAFA Government short sale program.

Copyright First Coast Realty Associates 2011

Our organization does not directly offer short sale or foreclosure rescue services in the state of Texas.

In these times of despair and hopelessness when people are looking to get rid of their homes, is it really a good time to buy a new house? Consider the fact that the market is officially the worst ever, should one even think about buying a house? Well, there lies the contradiction – rather an apparent contradiction. It is a buyer’s market – a market most suitable to buyers! The prices are low, almost 40% down from where they were in 2006. This downturn of course will not last forever. Taking a cue from buying stable shares when the economy is low, it’s a good time to buy a house as an investment if not as a personal asset.

This trend might have caught on, but the focus of the market on San Antonio short sales and the natural course of a buyer’s market has resulted into a rise in the market value of many homes. This may very well be a signal of things having changed their course and the market is set to improve. According to reports from the National Association of Realtors, December 2010 was upbeat in the matter of sales as proved by the inventory levels’ decrease. Interest rates on the loans available are also rising. The current interest rate for a normal mortgage over a 30 year period is 4.7% which signifies an increase in the interest rates of 43 base points, or a 4.3% increase since last November. All in all, the costs are getting higher and if you’re waiting for the right time to buy a new house, it might be a little late. But of course, that’s just another way to say that we are past the rock bottom. Don’t worry; we’re still in the valley.

If you are looking at houses as a personal asset, there is already enough incentive for you to buy one. In case, however, you are a homeowner, buying a house right now will be a very good way to invest your money. Stock prices over the last 12 months have gone up over 25% in the S & P 500 index implying that now is not the right time for a long term investment in equity. But, quoting the NAR again, the corresponding figure in home prices is just 0.3%. If you are always on the lookout for an undervalued stock, here it is. Look no further than the real estate market.

Inflation will be increasing in the times to come, and looking at the prices of the food and energy market, we know that the inflation we are talking about is here. The prices will go up and the dollar will be undervalued. It’s best that one find a good inflation hedge, and given the current scenario of the housing market, you need not look further.

Last, not the least and definitely one of the most compelling arguments is that in most places it is cheaper to own a house than to rent one! So if you have a good amount of savings and protection in the future, it makes more sense for you to own your house. According to Trulia’s Buy versus Rent index, in 72% of US cities it is cheaper to own a real estate property (with all the costs of the package – insurance, interest, realtor fees and the taxes) than to rent it.

So, whether you are looking to buy a short sale home or want to put your money to work, the housing market is perfect for you right now!

www.Short-Sale-Specialists.com

877-737-4903

Contact a local San Antonio TX short sale expert.

Are you looking for a San Antonio TX short sale Realtor? Look no further! Our stop Texas foreclosure specialists provide FREE short sale expert services to San Antonio homeowners in hardship. Call today to see if you qualify for a short sale! Need a San Antonio TX Distressed Property Expert in short sales to offer free Chase short sale services? Our San Antonio area Distressed Property Expert real estate agents are here to help, and are Certified or training in the Texas Home Affordable Foreclosure Alternatives, or HAFA Government short sale program.

Copyright First Coast Realty Associates 2011

Our organization does not directly offer short sale or foreclosure rescue services in the state of Texas.