Susan Hilton College Station Real Estate
Realtor & Vice President of Sales of Bryan College Station Real Estate
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Archive for November, 2011
Certified Distressed Property Expert in Bryan College Station Texas
November 18th, 2011 Categories: Foreclosures, Real Estate
Susan Hilton – CDPE Certificate
YEA I did it! I completed the Certified Distressed Property Expert course so Century 21 Beal, Inc. can do an even better job helping the homeowners of Bryan College Station, Texas not have to go through the process of a Foreclosure and having a Foreclosure haunt them for life. Even though I have been working with sellers avoid foreclosures for decades I had never taken the time to “get the certificate”. Now it is OFFICIAL!
More about Foreclosures in Bryan & College Station Texas
Behind on Your House Payment in Bryan College Station
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Do I Qualify for a Short Sale in Bryan College Station? Don’t Let Them Foreclose!
November 17th, 2011 Categories: Foreclosures, Real Estate
Frequently Asked Questions about a Short Sale in Bryan College Station, Tx.
The one reality about today’s housing market is that many people have more questions than answers. The following information is intended to help you or someone you know better understand your situation.
Do I qualify for a short sale?
The qualifications for a short sale include any or all of the following:
- Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
- Monthly Income Shortfall – “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
- Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.
What is a mortgage modification?
A mortgage modification is a process through which your mortgage lender changes any or all of the following:
- Your interest rate
- Your principal balance (through a reduction)
- Your loan terms (example: from an adjustable to a fixed rate)
This process can allow borrowers to stay in their property when they can no longer afford their current mortgage payments.
Why would a lender modify my mortgage?
Lenders have realized that in some cases it is better for them to work with current borrowers to lower payments or possibly improve terms in order to keep homeowners in their properties. The average foreclosure can cost a lender from 35-50% of the value of a property, so keeping borrowers in their homes is a good option for everyone.
What do I need to qualify for a mortgage modification?
According to the Making Home Affordable Web site (www.MakingHomeAffordable.gov), you will need the following information for your lender to consider a modification:
- Information about your first mortgage, such as your monthly mortgage statement
- Information about any second mortgage or home equity line of credit on the house
- Account balances and minimum monthly payments due on all of your credit cards
- Account balances and monthly payments on all your other debts such as student loans and car loans
- Your most recent income tax return
- Information about your savings and other assets
- Information about the monthly gross (before tax) income of your household, including recent pay stubs if you receive them or documentation of income you receive from other sources
If applicable, it may also be helpful to have a letter describing any circumstances that caused your income reduce or expenses to increase (job loss, divorce, illness, etc.)
How do I qualify for a mortgage modification?
The first call you make should be to your lender, have the information above ready to discuss with them and call your customer service line to ask them what options you have available. If the person you speak with does not understand what you are asking, you can ask to be referred to one of the following departments (different lenders have different names for these departments):
- Loss Mitigation
- Mortgage Modification
- H.O.P.E.
Prior to contacting your mortgage lender you can quickly complete an eligibility test at www.MakingHomeAffordable.gov. This test will let you know if you are eligible for a modification through the government-sponsored Home Affordability and Stability Program (HASP).
For a list of mortgage lenders and servicers, visit www.HopeNow.org.
What is a Home Affordable Refinance?
If Fannie Mae or Freddie Mac owns your mortgage, you may be eligible for a Home Affordable Refinance. This will allow you to refinance your home and often lower your payments.
What if I don’t qualify, can’t afford my home, and owe more than it’s worth?
You are not alone and foreclosure is not the only option. If your mortgage lender or servicer will not work with you to reduce your payment, you may want to consider a short sale. Agents with the Certified Distressed Property Expert® Designation have undergone extensive training in how to process and negotiate short sales.
A short sale allows you to sell your home for less than what you owe and avoid foreclosure. Speak to your market expert to see if you may qualify.
What are the qualifications for a Home Affordable Refinance?
According to the resources released by the government, following are a list of qualifications:
- You are the owner occupant of a one- to four-unit home
- The loan on your property is owned or securitized by Fannie Mae or Freddie Mac (see Useful Links)
- At the time you apply, you are current on your mortgage payments (you haven’t been more than 30 days late on your mortgage payment in the last 12 months, or if you have had the loan for less than 12 months, you have never missed a payment)
- You believe that the amount you owe on your first mortgage is about the same or slightly less than the current value of your house
- You have income sufficient to support the new mortgage payments, and the refinance improves the long-term affordability or stability of your loan.
Looking for someone who knows how to handle a Short Sale? Looking for a CDPE (Certified Distressed Property Expert)? Look no further! Call Susan at Century 21 Beal, Inc.
979-764-2100
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Castlegate II opening in South College Station
November 15th, 2011 Categories: Community Events, Family, Home Improvement & Design, Market Trends, News, The Realtor's Life
When I am out there showing properties in Bryan/College Station, I hear tons of rumors and ideas about growth in our community. Lately there have been many rumors about what is going on towards the back of Castlegate in south College Station. Since I sell a lot of homes in south College Station as well as living there myself, I wanted to get the real scoop so I could be knowledgeable when my clients ask me about what is going on in Castlegate. I went straight to the horses’ mouths, and interviewed Wallace and Dusty Phillips of Castlegate Communities to find out more about the new development!
For more information about Castlegate and any home in Bryan/College Station, give me, Farrah Spears, a call at 979-229-0919.
Farrah Spears
979-229-0919
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Aggieland Boot Campaign Has Begun
November 14th, 2011 Categories: Community Events, Family, Market Trends, Texas A&M University
It is here, Aggieland! The Boot Campaign Starts today! I do it with my boots on, and you should too! Starting today, stop by the Century 21, Beal office located at 404 H University Drive East, show your student ID and pick up your free “I do it with my boots on” maroon t-shirt to be worn at the game Saturday, November 19th! What better way to support our troops past and present, than to wear your maroon “I do it with my boots on” t-shirt to the game! Hope to see you there!
For all your real estate needs, Call Farrah B Spears at 979-229-0919
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Aggieland Get Your Boots on and Support Our Troops!
November 11th, 2011 Categories: Community Events, Family
Today is Veteran’s Day, which is a day that makes us all reflect on the sacrifices our troops past, current, and future have made for our freedom! We are so blessed to live in a country where we are free all because of the selflessness of those who have chosen to serve. Today is a good day for me to announce my participation in the Boot Campaign. The Boot Campaign is a grassroots initiative started by five women from Texas known as the Boot Girls. The campaign provides an easy and tangible way for Americans to show appreciation for troops (both past and present), raise awareness of the challenges they face upon return and donate funds to charities supporting their transition home. Proceeds from boot sales are donated to partner charities, who assist returning veterans and active troops dealing with emotional, mental and physical issues.
Their mantra is…”When They Come Back, We Give Back!” What better way to say thank you to our troops this Veteran’s day than sporting a pair of boots just like theirs? So join in the growing chorus of musicians, entertainers, athletes and other celebrities and get YOUR boots on! I laced up my boots in support and and next week, November 14-19th, you can support the campaign in various ways!
1. If you are a student, stop by my office at 404 H University Drive East(beside Cenare and across University Drive from the FOX and Hound) and show your student id for your FREE “I do it with my boots on” T-shirt to be worn at the game on November 19th. My office is open Monday-Friday 8:30-5:30.
2. Stop by the photo booth in front of the giant Aggie Ring on game day(November 19th) and join the national Boot Campaign facebook movement. *Surprise Aggie celebs will be there!
3. Head to the Shiner sponsored tailgate outside Reed Arena for FREE BEER! (must have your valid drivers license and your Boot Campaign tee shirt on!)
What better way to say thanks this Veteran’s day than to Walk a Mile in Their Boots and support our troops! Click on the link to find out more about this year’s Aggieland Boot Campaign! http://www.bootcampaign.com/aggie.html or give me, Farrah Spears, a call at 979-229-0919! Thanks again Veterans! God Bless America!
For all your real estate needs, call Farrah B Spears at 979-229-0919
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