Susan Hilton College Station Real Estate
Realtor & Vice President of Sales of Bryan College Station Real Estate
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Foreclosures Category
New HUD Foreclosure in Creek Meadows
January 13th, 2012 Categories: Castlegate, Foreclosures
Beautiful new HUD foreclosure soon to be available! Probably will be available with only $100 down with good credit. Want to check it out before it officially goes on the market? Call me!
Susan 979-764-2100
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Short Sales – What Kind Of Affect Will It Have On Me Now And In The Future
November 23rd, 2011 Categories: Foreclosures, Real Estate, Short Sales
If you are living in an area that has many “Short Sale” home sales occurring (and foreclosures) this is certainly affecting the value of your Real Estate. When there is a “Short Sale” the lien holders allow the owners to sell their home for less than what is owed and in many cases for less than current market value. As you can imagine this lowers the market value. During this process the market value will be driven lower. This will continue until the Foreclosure Sales and Short Sales taper off.
If you own a home and have made a decision to go through with a “Short Sale” there are some important things you need to know.
- What is my future debt responsibility?
- What are my tax implications?
- How will this affect my credit now and in the future?
These are all questions that can be answered by me or I will direct you on.
Another issue is the credit that is affected during a “Short Sale”. If a “Short Sale” is negotiated but a delinquency is reported, the credit would be affected approximately 50-140 points. The score will also depend on the amount of late or non-payments made before the close of escrow. When a home is foreclosed on the credit would be affected approximately 150-300 points and this will stay on the public record for 7 years or more. To find more information on Foreclosure vs. Short Sale in regards to future loan potential, credit history, credit score, current employment, security clearances and future employment visit the Certified Distressed Property Expert at www.cpde.com.
Susan Hilton
- Short Sale or Foreclosure in Bryan College Station Does it Really Matter?
- Short Sale or Foreclosure in Bryan College Station Part 2
- Certified Distressed Property Expert in Bryan College Station Texas
- Do I Qualify for a Short Sale in Bryan College Station? Don’t Let Them Foreclose!
- Are You Behind in Your Mortgage Payment?
- Bryan College Station Foreclosure Specialist Helping Homeowners Avoid Foreclosures CDPE
- Certified Distressed Property Expert in Bryan College Station, Texas
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After a Foreclosure How Long Do I Have to Wait to Purchase Again?
November 22nd, 2011 Categories: Foreclosures, Real Estate, Short Sales
After a foreclosure in Bryan/College Station, Tx how long do you have to wait before you buy another home using Fannie Mae’s money? Wait…. did you ever borrow money from Fannie Mae in the beginning? Who is this Fannie Mae?
After a foreclosure Fannie Mae is telling us that you will normally have to wait 7 years before you can purchase another home using money from Fannie Mae. (See chart) Of course if there are extenuating circumstances (who knows what those could be) you could possibly get another loan in 3 years with additional requirements.
With a Short Sale the wait is substantially shorter!
Fannie Mae is a private institution that is federally backed. (seems kind of screwed up doesn’t it!) They are the LARGEST originator of home loans in the country so you really don’t want to rule them out as potential lenders.
If you have questions about which is better for you – Short Sale or Foreclosure or if you are behind in your house payments or just need to sell – CALL ME!
97-764-2100
- Short Sale or Foreclosure in Bryan College Station Does it Really Matter?
- Short Sale or Foreclosure in Bryan College Station Part 2
- Certified Distressed Property Expert in Bryan College Station Texas
- Do I Qualify for a Short Sale in Bryan College Station? Don’t Let Them Foreclose!
- Are You Behind in Your Mortgage Payment?
- Bryan College Station Foreclosure Specialist Helping Homeowners Avoid Foreclosures CDPE
- Certified Distressed Property Expert in Bryan College Station, Texas
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Short Sale or Foreclosure in Bryan College Station Tx Does It Really Matter to Me Part 2
November 22nd, 2011 Categories: Foreclosures, Real Estate, Short Sales
In the previous post Short Sale or Foreclosure in Bryan College Station – Does It Really Matter Part 1 short sales and foreclosures were defined and many future issues were discussed. Part 2 is a continuation of that post.
What else needs to be considered when deciding whether to let a house go back to the bank through foreclosure or if a short sale is the best option.
- Future Employment – Credit checks are often done by employers. Remember the foreclosure will show up on the credit report while a short sale will not!
- Deficiency Judgment – This is almost always a surprise to owners whose home is foreclosed. Yes, the bank has the right to go after you for the difference between what they are owed and what they get when the sell it after expenses. And, yes this can be a lot of money!!! In a short sale this issue is usually resolved PRIOR to the sale so you don’t have a surprise debt later on.
One last issue that should be investigated with an attorney and/or tax accountant prior to the foreclosure or short sale is the “phantom tax.” The phantom tax being referenced is the forgiveness of debt tax. Normally if you have a debt (the loan not paid) and it is “forgiven” or not collected you may owe ordinary income tax on the amount not collected by the bank. I don’t know about you but having the IRS after me is one of the last things I want!
So, if you know someone who is behind in their house payments or have lost their job or had an illness or death in the family and they are not going to be able to continue making their house payments PLEASE call me and let me see what we can do to help. Even if all you do is get information you are much better off KNOWING what is coming than being surprised. Help College Station and Bryan homeowners so we PREVENT foreclosures in our cities which helps ALL our property values hold firm!
For more articles on Foreclosures and Short Sales -
- Short Sale or Foreclosure in Bryan College Station Does it Really Matter?
- Certified Distressed Property Expert in Bryan College Station Texas
- Do I Qualify for a Short Sale in Bryan College Station? Don’t Let Them Foreclose!
- Are You Behind in Your Mortgage Payment?
- Bryan College Station Foreclosure Specialist Helping Homeowners Avoid Foreclosures CDPE
- Certified Distressed Property Expert in Bryan College Station, Texas
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Bryan College Station Foreclosure Specialist Helping Homeowners Avoid Foreclosures CDPE
November 18th, 2011 Categories: Foreclosures, Real Estate
SUSAN HILTON Earns Real Estate, Short Sale Designation to Help Homeowners in Danger of Foreclosure
College Station, Tx – November 16, 2011 – SUSAN HILTON of CENTURY 21 BEAL, Inc. of College Station, Tx has earned the prestigious Certified Distressed Property Expert® (CDPE) designation, having completed extensive training in foreclosure avoidance, with a particular emphasis on short sales. At a time when millions of homeowners are struggling with the possibility of foreclosure, the skills and education amassed by HILTON will help benefit Bryan and College Station -area residents and communities.
Short sales allow the distressed homeowner to repay the mortgage at the price that the home sells for, even if it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.
Today, more than 13 percent of homeowners are delinquent on their mortgage or in the foreclosure process. This is occurring across all price ranges, and the fastest-growing category of homes in foreclosure is the luxury home market.
“The CDPE designation has been invaluable as I work with homeowners and lenders on complicated short sales,” said HILTON. “It is so rewarding to be able to help families save their homes from foreclosure.”
Alex Charfen, co-founder and CEO of the Distressed Property Institute in Austin, Texas, said that agents such as SUSAN HILTON with the CDPE Designation have valuable perspective on the market, and training in short sales that can offer homeowners real alternatives to foreclosure, which can be devastating to credit ratings.
“These experts better understand market conditions than the average agent, and can help sellers through the complications of foreclosure avoidance,” he said.
The Distressed Property Institute provides live and online courses to train real estate professionals how to help homeowners in distress, with a strong focus on handling short sales.
“Our goal is to help as many homeowners as possible, by educating as many real estate professionals as possible,” Charfen said. “SUSAN HILTON Read the rest of this entry »
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