Susan Hilton College Station Real Estate
Realtor & Vice President of Sales of Bryan College Station Real Estate
Read my blog below
Short Sales Category
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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Vacant Homes in Bryan College Station – Insurance Coverage?
November 20th, 2010 Categories: Foreclosures, Home Improvement & Design, Real Estate, Short Sales
Is your home vacant? If you are a seller or landlord in the Brazos Valley and your real estate is vacant, be sure to talk with your insurance agent. Will your homeowners insurance still cover your house if it is vacant and there is damage? What if it burns? What if it is vandalized? Most insurance policies specifically exclude vacancies after a specified amount of time and the last thing you need is for their to be a fire or vandalism and your claim is denied!
One idea is to replace your current homeowners’ insurance Read the rest of this entry »
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Foreclosure Lawsuit Soap Box – What is Yours?
October 24th, 2010 Categories: Foreclosures, Selling, Short Sales
I’m struggling with understanding the latest foreclosure lawsuits and maybe someone out there can help me understand.
The CNN Money article and news report explains a little about how all the Robo-Signing lawsuit and foreclosure moretorium started. What I don’t understand is why the family who “started it all” feel they have the right to stay in the home Read the rest of this entry »
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Foreclosures in Bryan College Station Coming to a Halt?
October 20th, 2010 Categories: Foreclosures, Selling, Short Sales
Bank of America ramped back up their foreclosure process in 23 judicial foreclosure states according to the Wall Street Journal. What does that mean for Texas? Not much since we are not a judicial foreclosure state but it does mean that they believe they have the right and the documentation in place to move forward with foreclosures.
I have not seen much of a slow down with foreclosures or the foreclosure sales process in Bryan College Station. Read the rest of this entry »
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Short Sale, Foreclosure or Loan Modification Options – Procedures
October 18th, 2010 Categories: Foreclosures, Short Sales
Before you decide whether a Short Sale, Foreclosure, or Loan Modification for your Bryan College Station home is the best choice for you, hopefully you will have researched and read my previous posts (links shown below). Be sure you know what the long-term effects will be for your decision.
For this post, let’s assume that you have decided Read the rest of this entry »
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