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Eight Ways To Avoid Springfield Foreclosures - Springfield Real Estate

Eight Ways To Avoid Springfield Foreclosures - Springfield Real Estate

Are you trying to sell you home and slowly getting behind in your payments?Short Sale Your Home

Here are 8 ways to avoid foreclosure:

  1. Rent the property. Renting is an option only if you are current in you payments.
  2. Forebearance.  Contact the bank and work out a temporary repayment plan.
  3. Refinance.  Refinance can help reduce your monthly payments and allow you to remain in the home.
  4. Loan Modification.  Sometimes the bank will modify the loan terms enabling you to reduce your payments.
  5. Sell the Home.  Selling your home may free up equity to help pay of the home.
  6. Short Sale.  A Short sale will enable you to negotiate with the bank to accept a sale for less than what you owe.
  7. Deed In Lieu of Foreclosure.  Most banks require you to try to short sale your home before they accept a Deed In Lieu of Foreclosure.
  8. Bankruptcy.  Bankruptcy will only stall a foreclosure.  It will not prevent it.

 

Call today and allow our team of experts help you sell your home.

 

 

Certified Distressed Property Expert

 

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Kay Van Kampen is a local Realtor serving Springfield, Ozark, Nixa, Rogersville, Republic and surrounding areas in Greene, Christian and Webster Counties in Missouri. She is ready and available to help you with all your Springfield Mo real estate needs. To contact her go to www.kayvankampen.com. If you would like a free list of homes for sale in this area/neighborhood, would like more information about Springfield, Ozark, Nixa, Rogersville, Republic, Willard and surrounding areas or would like to be the first to know about hot new listings before other buyers do, then give me a call at: 417.839.4534.

Search For Springfield Homes

RE/MAX Solutions                                             www.kayvankampen.com
Springfield, MO, 65721
  
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4 comments • Kay Van Kampen, CDPE, Broker, Springfield Missouri Real Estate • February 21 2010 08:54PM

Beneficial Short Sale Changes Are Coming - New Home Affordable Foreclosure Guidelines

I'm looking forward to the changes in the Home Affordable Foreclosure Alternatives

Working Springfield short sales this year has been a trying time, yet rewarding when we successfully close a transaction.  I am pleased to see new guidlines that will take effect in April, 2010 that will expedite the short sale process.

Many homeowners bury their heads in the sand thinking there is no alternative to foreclosure and never try to save their credit.  Yet, today's market is allowing homeowners to successfully sell their homes and mend their credit.  Here are a few of the new guidelines:

 1.  The property must be listed with a licensed real estate professional who regularly does business in the community where the home is located.

 2.  The home must be marketed at a list price approved by the servicer or an acceptable sale proceeds, minus allowable costs acceptable by the servicer.

3.  The real estate commission that may be paid, not to exceed 6% of the contract sales price.

4.  Authorization by the borrower authorizing the servicer to speak to other parties on behalf of the borrower in order to complete the transaction.

5.  Notice that the sale is an arm's lenth transaction and that the purchaser may not sell the property within 90 days of closing.

6.  Upon successfully closing a short sale, the borrower will be released from all liability for repayment of the first mortgage debt.

7.  Upon successfully closing, the borrower will be entitled to a $1,500 relocation incentive, which will be deducted from the proceeds at closing.

If you are a homeowner struggling to keep your home from foreclosure, we can help.  Just call or email and we'll stop by.

Certified Distressed Property Expert

 

 Subscribe To My Blog 

Kay Van Kampen is a local Realtor serving Springfield, Ozark, Nixa, Rogersville, Republic and surrounding areas in Greene, Christian and Webster Counties in Missouri. She is ready and available to help you with all your Springfield Mo real estate needs. To contact her go to www.kayvankampen.com. If you would like a free list of homes for sale in this area/neighborhood, would like more information about Springfield, Ozark, Nixa, Rogersville, Republic, Willard and surrounding areas or would like to be the first to know about hot new listings before other buyers do, then give me a call at: 417.839.4534.

Search For Springfield Homes

RE/MAX Solutions                                             www.kayvankampen.com
Springfield, MO, 65721
  
Visit MyBlogLog and get a signature like this!
4 comments • Kay Van Kampen, CDPE, Broker, Springfield Missouri Real Estate • December 06 2009 09:20PM