Susan Hilton College Station Real Estate
Realtor & Vice President of Sales of Bryan College Station Real Estate
Read my blog below
Buying Category
We BUY a HOME and Lose the HOUSE to Foreclosure in Bryan College Station, Tx
November 3rd, 2011 Categories: Buying, Foreclosures, Real Estate, Selling, Short Sales
Working with buyers and sellers of the Brazos Valley I have learned that we BUY HOMES but when we lose them to foreclosure they are now just HOUSES. We want to move into a HOME for our families but when times get tough and someone gets behind on their home mortgage the bank only considers it a house – an asset.
So, if you have gotten behind in your home mortgage and you have not been able to successfully complete a loan modification the bank is going to start down the foreclosure path. Of course you may be able to bring your loan payments up to date but otherwise your options are very limited – there are no more loan options that allow you to stay in the house.
At this point our goal changes. It goes from helping you keep the home and changes to giving you more control over how you leave the house.
WHAT IS A FORECLOSURE?
When someone does not make their loan payments following the agreement made through the loan documents then the bank will foreclose taking back their asset. Foreclosure is a LEGAL process. During this process the lender (one who owns the mortgage) sells the property to recover the unpaid loan amount. Normally this process begins 30-90 days after you stop making payments. At the foreclosure sale on the first Tuesday of each month at the county court house, the lender will become the property owner if no one else buys the property. In Texas most foreclosures are non judicial – no judge or lawsuit is needed.
POSSIBLE CONSEQUENCES OF A FORECLOSURE
- negative credit rating
- difficulty in being approved for credit in the future
- higher interest rate for loans
- higher insurance rates
- eviction from your home
- house is sold
- deficiency judgement
- legal costs
- tax consequences
- and possibly more!
- eviction
- sale of the house to someone else
- CALL ME and let me work with you to see if you qualify for a short sale or can get a loan modification!!! Bryan & College Station homeowners behind on their payments should NOT have to go to foreclosure! There are options!
979-764-2100
Are You Behind on Your Mortgage Payment in Bryan or College Station, Tx?
Foreclosures Are Happening in Bryan and College Station, Tx Too!
Bryan College Station Foreclosures Available!
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Are You Behind on Your Mortgage Payment in Bryan or College Station, Tx?
November 3rd, 2011 Categories: Buying, Foreclosures, Real Estate, Selling, Short Sales
Are you behind on your mortgage payments? Do you know someone in Bryan or College Station, Tx who is? Do you know what happens next?
Since going through a foreclosure is one of the most traumatic things that can happen with a family, outside death or illness, if this can be prevented let’s choose THAT option!
Bank of America has published a Home Transition Guide to help provide specific instructions on how to go through the process.
Remember if you are behind on your payments you have several options -
- Make up your payments
- Loan Modification through the lender
- Short Sale so you can get out from under the house payment
- Deed in Lieu of Foreclosure so you can give the house back to the bank without having a foreclosure
- Foreclosure, Eviction and Relocation
Over the next few weeks I will be amending this post and adding links for each of the above topics. I will also be posting ideas and plans for homeowners to consider. My one request is… PLEASE don’t wait until the bank starts calling. If you find you are going to miss a house payment CALL ME and let me help you communicate with the bank and figure out if a loan modification or short sale is an option. The last thing you want is to get behind in your payments, not be able to catch up, have the house foreclosed, be evicted from the house, and then after you lose the home…. owe INCOME TAXES ON THE BANK’s LOSS!!!!!
Last week I had someone call saying they purchased a home, lost their job, lost the home to foreclosure, ruined their credit for years and thought it was all over. NO! Now they have received a letter stating they had a loan guaranteed by the federal government and now they STILL OWE $58,000 MORE. If they had $58,000 they would have made their house payments. If they cannot pay the $58,000 this debt will be reported to the IRS and is now a federal lien which will not go away. If they had gone through the Short Sale process rather than the foreclosure process this could have been avoided. So, Don’t Wait if you are behind in your payments!!!
Susan Hilton
979-764-2100
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Simple Guidelines to a Pet-Friendly House in Bryan College Station
June 9th, 2011 Categories: Buying, Real Estate, Selling
Nowadays, a family pet is considered an essential part of the majority of households especially in Bryan College Station, Tx. It is also one of the determining points when buyers are scouting for a brand new residence. In accordance with the American Pet Products Association’s 2009/2010 National Pet Owners Survey, 62 percent of U.S. households are pet owners. Forty-five percent of households have dogs as their pet, while thirty-eight percent of households own cats.
Here are the helpful hints to ensure that you get a property that meets the needs of your pets.
Obtain the essential information
Know the essential information about your pet such as age, weight, breed, and, of course, its exercise Read the rest of this entry »
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College Station, Tx Is Ranked #4 in the BEST Place for Military Retirees
December 14th, 2010 Categories: Buying, Community Events, Living Here, Texas A&M University
Many retired military are finding their way to College Station zip codes. The City of College Station is ranked fourth among cities nationally and second in medium sized metropolitan areas(175,000-500,000 pop) in accordance with USAAs and military.com’s list of “Best Places for Military Retirement”. Why another list? The new list (started on December 6, 2010) helps retirees to utilize the retirement benefits to their greatest benefit in places that offer a high quality of life.
There are many reasons why Bryan College Station, Tx was chosen. One reason why BCS is ranked so high is taxes! Texas has no income tax on Federal Pensions. Also, College Station is still going strong in both real estate and the economy in part because of Texas A&M University and 49,000 students. Many people who are retiring from Read the rest of this entry »
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Your Student & Housing at Texas A&M University – Are You Ready?
November 25th, 2010 Categories: Buying, Living Here, Real Estate, Texas A&M University
College acceptance letters have started going out for next year even if it is only Thanksgiving. Have you thought about where your Texas A&M Student is going to live?
We are finding more and more parents are wanting to invest in College Station Real Estate whether it is a single family home, duplex, condominium or townhome. More parents are wanting to purchase a property to enjoy our lower Read the rest of this entry »
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