Real Estate and *stuff *
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Fannie and Freddie Won’t Evict Foreclosed Home Owners During Holidays
December 3, 2011
Fannie Mae and Freddie Mac won’t evict families from their homes during the holidays, but will continue to process foreclosures.
Lending giants Fannie Mae and Freddie Mac won’t evict foreclosed home owners between Dec. 19 and Jan. 2, the lenders said in releases Thursday,December 1st.
Notices of default, notices of auction sale, and foreclosure auctions will continue normally. But borrowers whose homes have been sold at auction or taken back by the government-owned mortgage agencies will be allowed to stay in their property through the holidays.
The two companies own about half of all mortgages, Fannie Mae spokesman Andrew Wilson said. Home owners in the midst of the foreclosure process can check to see whether Fannie or Freddie own their loans at fanniemae.com/loanlookup or freddiemac.com/mymortgage.
Home owners who have been foreclosed, but who still live in their houses, will receive notices from Fannie or Freddie if the lenders are involved.
This is good for home owners because it allows more time for a short sale. A short sale allows the home owner to end the process with dignity and possibly remove all of the remaining mortgage balance. I recently stopped a foreclosure auction on a Freddie Mac loan with a 13 day short sale approval. There is still time! Visit this page to review your options: avoid foreclosure.
Fred and Ethel finish their Worcester County travel week with RE/MAX
November 16, 2011
Fred and Ethel…the BNI Whales are just finishing up their week with RE/MAX. They aren’t quite ready to take on the blue R but they are close! Most of the day was not very exciting for them with price changes, property inspection reports, client files and short sale updating with the lenders. They declined pictures for the most part. I think Ethel is getting camera-shy.
They spent some time with some new buyers looking at foreclosure condos in Marlborough and Grafton. They had a good time and it was nice to get to know some new people. Dan and Dan are just starting out with their search and we looked a few different areas so they could start to get a feel for what was available in their price range. Time well spent!
We did walk into a foreclosure on Hosmer Street. The complex is undergoing renovations but has been hit hard with short sales and foreclosures which makes it difficult for the association to maintain their budget. There is a 2 bedroom unit that I had shown when it was short sale and I’m not sure how we crossed paths but I found my business card on their living floor amiss the belongings they did not have time to take when they were foreclosed on. I wish they would have reached out – I might have been able to sell the condo short instead of them having to endure a foreclosure. It’s a huge difference – a short sale affects their credit for a much shorter time and future employers don’t ask if someone has short saled…but they do ask if they have had a foreclosure. Sad.
The BNI Whales moved past this moment and marched on to an appointment with their new clients in Marlborough. Fred and Ethel helped list their condo on Friday and we received a full price offer on Sunday which we officially accepted this evening! They are SO EXCITED!!! We also signed their offer to purchase a new house in Southborough! YAY!!! Fingers and fins are crossed for them!
This is was the last day I will spend with the BNI Whales until the next time I win them. I hope that they enjoyed it as much as I did! I also hope that you reach out to find out more about the 7 Hills BNI Group! We do need more members and it has been a fantastic group to be a part of! If you want to be more successful in your business…it’s the place to be!
Chase Has followed Through With Large Short Sale Cash Incentive
November 16, 2011
Crawford Realty team has recently negotiated a $35,000 payment to their short sale client at closing. In addition the seller also received another $3000 as a HAFA incentive for a total check to the seller at closing of $38,000.
Chase Bank is sending homeowners a solicitation letter offering up to $35,000 to do a short sale. We listed the house, received an offer almost immediately, and closed the sales transaction in 80 days from listing to close.
Once an offer was obtained, the Crawford Realty Team submitted a short sale package to Chase, and worked co operatively with the buyer’s attorney and the seller’s attorney to get all incentives available. After several weeks of negotiating Chase not only offered all incentives, paid back taxes, title v, smokes, seller settlement fees, Real Estate Broker commission, and waived the entire deficiency balance.
Chase is not the only lender offering incentives to the homeowner delinquent on their mortgage. For more information about other incentives available, contact one of the Short Sale Partners of the Crawford Realty Team. Click here for a confidential, private link to find out what your short sale options are: avoid foreclosure.
Fred and Ethel recover from Short Sale Monday
November 15, 2011
Fred and Ethel – the BNI Whales that have been traveling with me since our meeting last week – apologize for being absent yesterday. Monday consumed them as they realized how much time and energy is needed to successfully close a short sale. They were back in full force today though! Spreading the word about the great stuff that can happen with BNI!
The whales started the day posing on the might jeep while it was being loaded with all the necessary items to carry out a full day of real-iting (Fred and Ethel have quite the sense of humor). They are looking forward to get out and away from the desk and the phone after yesterday!
Fred and Ethel stopped by 10 Dighton Street in Worcester which closed last week to pick up the signs and the lockbox. The new owner was home and they wished him well! Fred thought this was a great way to start the day!
Stopping again on the way into the office for a weekly inspection on a foreclosure listing. 18 Burncoat Street in Leicester is a foreclosure that just came out of contract and is back on the market. With a new price of $59,500 and a passing Title V – it’s a great buy!
Into the office for Business Builders. Business Builders is an accountability group that meets bi-weekly and is run by Pam Crawford. It helps keep Realtors ON track by holding them accountable to their goals. What works, what doesn’t and most importantly…what are we actually doing that generates business. Great group! It’s nice to connect with the other agents in the office too.
Fred and Ethel set up in the office for a few hours before the next appointment. Confirming that their recent buyers are good with their pre-qual on a house that needs a new septic, recalling all the banks involved in the short sales, letting the new rental clients that they…above four other applications…got the rental they wanted and then off again!
After a few stops – checking in at a broker’s open to preview a new construction in Leicester…stopping in on the sellers of 10 Dighton in Worcester to wish them well in their trip south for the winter and finally…
Staples. Ugh! Fred and Ethel feel the same love/hate feeling that I do…so many things that could be used…so much money could be spent! Must…keep…to…budget!! This would be a time to consult with Andrea Goodman…Swampdrainer! She keeps business…in business by keeping their PnL’s tight! At any rate…Fred and Ethel learn that jump drives fail and they must be replaced.
Ending the day with Wes Oliver from Prestige Mortgage at Picadilly’s in Westborough for a frosty cold one and nice chat…Fred and Ethel finally get home to spend some quality time with the huskies…
The Whales on a Whirlwind for Saturday
November 13, 2011
Fred and Ethel got a great taste of Real Estate on Saturday! So much so…we have limited photos of their activities.
They started out with some showings on their listings…specifically 325 Elm Str in Framingham. Elm Street is a short sale with upscale renovations that are “almost” complete. Some elbow grease and this modified ranch in North Framingham on the Sudbury line will SHINE!
From there…the whales moved on to a new client. Fred took a call on late Friday afternoon from a lovely young couple who are trying to relocate from Troy NY to Marlborough because they have an incredible job offer on the table. With only two weeks to orchestrate the move and only one day to find a new place to live – they are urgent! Ethel saw how great this couple is and wanted to help! With a flurry of phone calls and some last-minute showing requests – Fred and Ethel find them a great rental in Assabet Village in Hudson. The couple is thrilled and the whales are excited!
After a quick stop to refuel (Fred and Ethel can really pound the espresso!) They are off to meet a local contractor at another short sale to assess any necessary repairs and schedule the clean up work. The sellers have moved on so the point of contact has become the Realtor. Luckily it’s only down trees and no damage to the property except for a basketball hoop and the mailbox. The Whales are not pictured here due to safety concerns.
And then they are off to ensure that the open houses for Sunday are scheduled and staffed! Thanks to the great team at RE/MAX Professional Associates, Fred and Ethel are confident that the open houses at the following locations on Sunday will go well!
18 Burncoat Street Leicester
Open Sunday 1pm to 2:30pm
Foreclosure sale! Title V in hand! 3 bed, 1 bath, .97 acres in need of serious rehab. Priced to sell at $64,350
72 Glenwood Rutland
Open Sunday 12pm to 2pm
Amazing short sale opportunity! 3 bed, 2.5 bath in the main house with hardwoods, fireplace, oversized gourmet kitchen, views of Mt. Wachusett, full dry basement, walk up attic and 2 car garage. Also has a full in-law suite with 2 bedrooms and its own entrance!
Who are the Whales? Have you been following their progress this week? Ask me about the BNI Whales and how Fred and Ethel can increase your business!
Here is your opportunity!
November 5, 2011
 
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Remax Professional Associates : 294 Main Street – Spencer MA 01562 : 508-784-0504 |
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SNEAK PEAK! Short sale opportunity!
November 4, 2011
HUGE opportunity! As in 4,000+ square feet of huge opportunity! 3 bedroom, 2 fireplaces, 2 car garage and 2 bedroom in-law!
Real Estate and *stuff * 