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Colorado Springs Short Sale Specialist

 CHUCK WARTMAN

719-231-5525

Things are difficult right now in the Colorado Springs area. Unemployment and mortgage delinquencies are on the increase. More homeowners in America that have a mortgage, owe more on their property than they are currently worth. They would be forced to bring money to closing that they may not have. Many are late on there home mortgage payments. You have options! I am always available to answer your question about a Colorado Springs Short Sale. Call me now (719) 231-5525

What exactly is a Colorado “short sale” in Real Estate?

The term short sale is derived from the act of selling your home for short of the amount owed. Short sales often occur in real estate when a lender comes to agreement in accepting a shorter pay off amount on a loan rather than what is owed to their property. When a Colorado short sale transaction is taking place, the borrower will be indebted more on their loans and liens versus their property’s worth at its current market value. Also, a lender will only agree to a short sale generally when the borrower can give account that they are in some type of hardship.

How do I qualify for a Colorado Springs short sale?

Since lenders have developed a more lenient attitude towards homeowners in recent times, there are normally three qualifications required for a short sale.

1.Financial hardship such as: loss of employment or income, divorce or separation, relocation or job transfer, property in need of repairs without resources to make repairs, major sickness and medical expenses, death of a family member, vacant rental properties, etc.

2. The proceeds of the sale of the property, after all closing costs are paid, are less than the amount currently owed on the home.

3. Financial Insolvency (no other major assets).

 This free Home Valuation will give you a detailed report for you to review.

 This is a totally automated system. Easy and Fast. Get your Homes Value now. FREE!

 From Chuck Wartman      (719) 231-5525

What are the benefits to doing a Colorado short sale?

One thing that will majorly benefit you from short selling your home is that your record will usually bounce back within two years, which will admit you the time to pay off old debt and establish your credit once again and qualify for loans. Simply put, your credit history will read as “settled in full” or “paid as negotiated”, however, it will not be display itself as “short sale”. A short sale is not an actual item on your credit so it will usually not affect any future employment whereas a Colorado Springs foreclosure keeps its title while potentially turning away employers, or even sacrificing your current job title.

Whenever a foreclosure appears to be a possibility on a homeowner’s record, it is wise to do as much research on Colorado short sale Realtors before a decision is reached. In the event of choosing a short sale, a short sale specialist is the correct answer to your worries. A qualified and highly trained short sale Realtor will walk you through the steps of the short sale process while being responsible for all negotiations on your behalf.

Can my current Colorado Springs short sale Realtor® help me?

SITEAREA Short Sale RealtorExamine this question carefully. Short sales are specifically designed to be under management by experienced Colorado short sale Realtors who have many short sales completed under their belt and the evidence to show it. There may be short sale Realtors who boast of taking on a short sale, but it’s ever so wise to examine the so called proofs to those claims. To start a short sale only to witness rejection would be heartbreaking. Don’t let an incompetent Realtor who claims of being able to bring you to a successful completion of your short sale fool you. Once you seek out a Colorado short sale specialist, make sure you have a list of questions you would like them to answer and be sure you are at complete ease with their assistance. Remember, proper training is important for the short sale process; however, I do believe there is no substitute for experience. A weekend training course does not make somebody an expert in short sales. I am a short sale specialist and can offer you no cost assistance to guide you in the Colorado Springs short sale process.

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Government options to help stop foreclosure in Colorado Springs

“The current Colorado Springs-area housing market and national financial crisis has caused untold stress and heartache for many families. Right now, you can get real help and real answers from your local Colorado Springs agent with the Short Sale Specialist Network. He/She is your best solution for solving your home finance challenges. Below are some of the current options to discuss with your local short sale specialist agent. Find out which option would be most beneficial to your current situation. The current options are:

If you can’t afford your mortgage payment and it’s time for you to transition to more affordable housing, the Home Affordable Foreclosure Alternatives (HAFA) program is designed for you. HAFA provides two options for transitioning out of your mortgage: a short sale or a Deed-in-Lieu (DIL) of foreclosure. In a short sale, the mortgage company lets you sell your house for an amount that falls “short” of the amount you still owe. In a DIL, the mortgage company lets you give the title back, transferring ownership back to them.
If you’re not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance through MHA’s Home Affordable Refinance Program (HARP). HARP is designed to help you get a new, more affordable, more stable mortgage. HARP refinance loans require a loan application and underwriting process, and refinance fees will apply.
If you’re not unemployed, but you’re still struggling to make your mortgage payments, you may be eligible for the Home Affordable Modification Program (HAMP). HAMP can lower your monthly mortgage payment to 31 percent of your verified monthly gross (pre-tax) income, which usually provides savings of hundreds of dollars per month.
If you have a home equity loan, HELOC, or some other second lien that is making it difficult for you to keep up with your mortgage payments, learn more about this MHA program.

3 Great tips Staging the Outside of your home to help it sell

Are you thinking of selling your home, but are not sure where to start? Worried about the time it will take to sell, or about the get the price you’ll get? One way to help is to stage the home to get a great First Impression.

Here are 3 tips to get you started with the outside of your home:

Exterior Home Staging

1.  If you have spent the time and money to fix up the interior, it could all be wasted if the clients get a bad first impression as they drive up to the house. Stand on the street and picture what a buyer will see when driving up to the house. Be aware that any negative impressions they get outside the house (landscaping not maintained or non-existent, peeling paint, etc.) is just going to make them think that the house has not been taken care of.

2. Walk out your front door and sit down. Look around for 5 minutes. This is what the buyer will be doing while they wait for the Realtor to figure out the lock box and the front door. What are they seeing? Charlie Brown dead plants, Christmas lights hanging  in July, dead moths by the night light? Again, not a good first impression!

It’s definitely worth taking some time and cleaning up. Want to go a step further? Try a new coat of paint or some new furniture or accessories.

3. The Backyard!  While it might not be part of a buyers’ first impression’, you still should make sure it’s in the best condition possible. This is where they will probably go to have some peace and quiet. Or send the kids to play. Pull up weeds, water plants, do some sweeping (if that’s applicable in your case) and maybe even purchase new furniture or accessories (plant pots, bird houses, etc.)

First Impressions

Looking at your home, what impressions are you getting? Would YOU buy your house? Are there things you would like to see changed before you put an offer on your house?

The money spent will go far and have a great return – you’ll get it all back when your house sells. Proper staging helps you sell your house in a shorter time and at the price you want.

 

 

Provided courtesy of Chuck Wartman
RE/MAX Properties, Inc.
Call or Text 719-231-5525

Search the entire MLS at
www.ChuckWartman.com

Fountain Colorado Short Sale Realtor

Fountain and Colorado Springs Short Sale Realtor

Fountain Colorado Short Sale Realtor

CHUCK WARTMAN  

719-231-5525
         What is a short sale? A short sale happens when a lender is willing to accept a lower pay off on a loan than what is currently owed. In a short sale, the borrower will owe more on the property than the home is worth at its current state, however, a short sale happens only when a homeowner qualifies through some kind of hardship.

Why should I short sale my home? To settle for a foreclosure means accepting the damage to your credit a foreclosure would bring. It also means accepting the fact that in many states, the lender will seek a deficiency judgment in the amount that is owed. A short sale by itself will typically lower your credit score by 50-120 points, however the hardest hit on your credit will be from missed mortgage payments, not the short sale itself. Your credit will usually recover from a short sale in as little as two years, whereas a foreclosure could dampen your ability to take out any future mortgage loans for at least five years. Short Sale v.s. Foreclosure Do I get any money back from a short sale? In many cases, cash back incentives are given to homeowners who complete the short sale successfully. The Home Affordable Foreclosure Alternative program offers homeowners $3,000 cash back to help with relocation expenses. This money is in addition to any other relocation assistance and incentives specific to your lender. Government programs to help.   How do I qualify for a short sale? While lenders have become more lenient in recent times, there are typically three qualifications required for a short sale.

  1. Financial Insolvency (no other major assets),
  2. The proceeds from the sale of the property, after all closing costs are paid, are less than the amount currently owed on the property, and
  3. Financial hardship. Acceptable hardships may vary, but some common ones are; loss of income or employment, divorce or separation, relocation or job transfer, property in need of repairs without recourses to make repairs, major illness and medical expenses, death of a family member, vacant rental properties, etc. In most cases, a short sale is not for those who want to sell, but only for those that have to sell.

Who will pay the short sale Realtors® commission? The lender will customarily take care of all fees associated with the short sale process; this meaning your short sale specialist as well. In most cases, borrowers pay nothing out of pocket to complete a short sale. What happens with the money that is forgiven by my lender? Any difference on your mortgage will typically be written off as a loss by your lender. Some lenders may send out a 1099 for the amount that was forgiven. However, the Mortgage Debt Relief Act of 2007 states that you will not be required to pay taxes on the money if you did a short sale on your primary residence before. The bill however is not quiet that simple. Consult the appropriate representation in all tax and legal matters. Can I still do a short sale even If I am going through a foreclosure? Absolutely. You will not be asked to move out until the closing. If your specialist is actively working with your bank, your lender will typically delay the foreclosure proceedings making it possible for you to stay in your home a little longer. What should I be aware of when doing a short sale? Unfortunately there are those who prey on individuals in a financial hardship or facing foreclosure to take advantage of them and profit from their misfortune. These scammers will make deals sound enticing, but are only in it for themselves. Never sign a quit claim deed, power of attorney or an option contract without consulting an experienced short sale Realtor® and an attorney. Remember, nobody can look out for your interests in a transaction while trying to make as much profit from your situation as possible at the same time. Can my current Realtor® handle my short sale? This is a question that really needs to be researched. Short sales are specifically designed to be handled by experienced short sale specialists who have many short sales completed under their belt and the proof to back it up. There may be Realtors who claim they can take on a short sale, but it’s very important to check out their proof to those claims. It would be devastating to begin a short sale only to see it was rejected due to an incompetent Realtor who claimed to be able to bring you to a successful completion of your short sale. When searching for a short sale specialist, make sure you have a list of questions you would like them to answer and make sure you can feel completely comfortable with them. There are also many who claim to be distressed property experts after taking a weekend training class and earning a certification. While proper training is one factor to consider, experience is everything.

 Fountain Colorado Short Sale Specialist

Homeowners have options to avoid Foreclosure. Many options are available in Fountain Colorado to distressed homeowners however; short sales are becoming increasingly popular due to its abilities to assist homeowners in Fountain Colorado. Many Short sales offer cash back incentives and a  credit score that suffers far less than one with a foreclosure. Something each and every homeowner in Fountain Colorado worries about is how their credit will be affected once a short sale all is said and done. The truth is, a short sale in Fountain Colorado itself may drop your credit score by 50 points, however it will the delinquent mortgage payments in Fountain Colorado that do the most damage; each missed payment ranging around 30 points. When you compare a short sales versus a foreclosure you will see that a foreclosure may lower your credit score by 300+ points and sit on your credit report for up to ten years. A short sale in Fountain Colorado will typically recover within two years while usually displaying “paid as negotiated” or “settled in full” on your credit report. A foreclosure in Fountain Colorado also has the potential to hold you back from a certain career path because it is not uncommon for employers to do a credit check before making a decision. One of the greatest benefits of a short sale is having an experienced Fountain Colorado short sale specialist assisting you throughout your short sale. The goal of a Fountain Colorado short sale Realtor is to handle all negotiations on your behalf while working aggressively to get your home sold in Fountain Colorado. A highly qualified Fountain Colorado expert in short sales will be able to keep constant exceptional communication with all parties involved while offering their services to you, at no cost; your lender will typically pay all commission and closing costs. There is no reason to let your home in Fountain Colorado go into foreclosure when you have options available and professionals who dedicate their lives to helping distressed homeowner