Navigating the Waters of South Florida Short Sale Negotiation

Once a property owner is dealing with foreclosure, she or he must always remain positive but always rational. There is always the chance that whatever solution provided, whether it be from their own personal skills or with the support of others, my not be successful. With this in mind the owner must always have a back up plan if things don't go well the way they expected.
I mention this because when Short Sales are being executed, especially in the North Miami, Florida area, there is a fifty per cent chance that they will be unsuccessful. In order to increase your success, I have provided several recommendations that hopefully you'll find helpful when navigating the slippery waters of Short Sales and Loss Mitigation Negotiation.

First off, you should never attempt this by yourself. When you're flying from your hometown to another destination, do you ever pilot the airplane? Didn't think so. How about when you're at a restaurant waiting for your meal? Do you actually prepare the five-star food that's been approved by judges from around the world? Absolutely not. Therefore how is this any different? You should always seek the help of a Real property professional, someone who has either helped list and sell short sales such as a Realty agent who actually has a track record or a Real Estate investor who has already purchased properties via Short Sale previously.

You'll wish to look for verifiable proof that these professionals have completed at the minimum two or three transactions in the past several years.

Once you've got your connection, your helmsman under your belt, don't just let them fly the airplane on his or her own. Stay connected with the process. Follow up and ensure that the expert that you've chosen is doing their job correctly and accurately. This is where things can get a little difficult. When you're taking a trip on a plane or dining at a five-star restaurant, you don't necessarily need to constantly follow-up with the Pilot and the Chef, but we're referring to your home and your economic future here. There is much more at stake or steak depending where your mind is.

In addition to following up with your chosen expert, always bear in mind that the person who ultimately gains from this transaction is you. The entity that ultimately holds the decision to allow you off the hook is not your chosen professional, but the bank that holds your mortgage. Make sure that you keep in contact with your mortgage servicers to make sure that everything is on the right track.

Hopefully this article has helped you a little further when looking to solve your Property problems.

Please feel free to visit my blog as I'm always looking to help those facing foreclosure in South Florida.

Miami Foreclosure: Solutions and Consequences

Within this post we're going to talk about solutions to foreclosure and the aftereffects that may occur if you decide to let the bank forcefully take back your property. We'll go over subject to, short sales, straight purchases and a number of other options.

So, your property in Miami is in foreclosure and you're desperately searching for a solution. Hopefully I may have the chance to bestow upon you several solutions that will help you and your family survive the storm.

Foreclosure can have ruinous effects on personal and business credit for as much as 7 to 10 years. Some say letting a foreclosure transpire is worse than going into bankruptcy. Perhaps it has something to do with the 'American Dream' of having a home and letting get repossessed. Back between the years of 2006 and 2010 everyone and their dog was loosing their house. Fortunately that does not need to be you.

If your Miami house does actually enter into foreclosure you might be facing several issues. The first is the most obvious fact; your credit score will plummet about 450 points and the foreclosure entry will remain on your credit for 7 to 10 years. After you loose your home it will be VERY hard to obtain another or even rent an apartment. I'm sure you don't like the idea of being homeless or living with friends and relatives. In addition to that, the bank may come after you for what is called a deficiency judgment. This occurs when your property sells at auction, after it has been reclaimed, for short of what you owe. So if your mortgage is $200k and your property sold for only $100k at the courthouse steps, then you're liable for the remaining $100,000. The bank can garnish your wages and seize any assets you obtain until the $100,000 is paid off. Yes, it does seem very draconian but that's how the system works. Banks these days have too much power and you're much better off discovering a solution instead of twiddling one's thumbs.

Speaking of solutions, you can always sell your property before the auction date. By doing this there will be no deficiency judgment and your credit will be salvaged where you'll have the chance to move on with your life much sooner than 7 to 10 years. If you have equity, you can sell your Miami house very quickly to a person just like myself where you can close in as little as 20 days. You'll be guided throughout the entire process from beginning to end and you won't have to bother with any step of the procedure to sell your home.

You can also check out a solution called a 'Short Sale.' This solution takes longer than 20 days but is still worth it. If you owe more on your home than its worth, the mortgage balance can possibly be negotiated down and your property sold with little effect to your credit and in many cases, you won't have to worry about the bank coming after you for the remaining balance.

We can also do something called a 'Subject To' takeover. This solution involves the buyer, me, taking control of your payments and/or bringing them current and taking the property ownership from that point on relieving you of any worries or responsibilities. This is also a good solution if you owe exactly what the property is worth or a little more and you wish to maintain stellar credit by keeping the mortgage current but you no longer want to own the residential property or house in Miami.

If you'd like to learn more about how you can stop foreclosure you can always call me at 305-349-3231.

North Miami Short Sales Professional

Short sales are still in an abundance here in North Miami. I have been doing short sales for about the past decade and I know every single detail about them I know that most banks don't have an interest in helping the home owner or anyone involved in the process. I have also seen that Short Sales negotiated with banks such as Bank of America, Chase and Wells Fargo are among the toughest to complete. These larger bank are getting greedier by the day. The short sale payoff letters come in at or above market value of you don't know what you're doing.

Having an experienced Short Sale professional on your side is the difference between night and day! Not only will a short sale be negotiated on your behalf but there will be legal defenses taking place against the bank's lis pendis law suite. The battle will be fought on two fronts. We don't want to beg the big banks for a short sale discount without having a gun in hand!

I've been able to get foreclosures in North Miami dismissed while working on short sale files. How do I do this you ask? With years and years of experience thats how! I have a team that knows the ins and outs of the real estate legal system and can pretty much get the judge to do anything.

When the banks such as Wells Fargo, Bank of America, Chase and Suntrust see that they won't be able to take the property back from a poor defenseless homeowner seeking relief, then they're willing to negotiate and compromise. It is only at the point when your enemy sees that he or she will loose the battle when they are willing to help. Otherwise, asking for help with a whimper will only ruin your credit and leave you in an unfortunate situation.

When you're looking to avoid foreclosure you must always keep in mind ways in which you can get the system to work for you in a smart and professional manner. Don't try to cheat the system of Short Sales, just work with it so that it can work in your favor. If for any reason you're not sure how the system works, please consult a professional like me.

I've been purchasing homes, helping homeowners avoid foreclosure, dealing with banks and even training others on how to get into the real estate business for years. My speciality is creative Real Estate solutions for you and your family.

I BUY HOUSES NORTH MIAMI

There is a false recovery taking place in South Florida. I see it everyday. There are also property owners that think they're still in the golden days of 2008 asking ridiculously high prices for their properties.  For those that are in need of selling or just don't want to have to deal with their properties any longer, I'm here to help in North Miami. This is my market. I live and work here; I know everything about this place. I buy houses in North Miami on a consistent basis. They could need an extreme amount of work or it can be a piece of land that deserves a nicely placed structure. I also buy buildings and multi family properties in North Miami.

Im the go to guy for all of your needs. I can purchase properties off of 163rd street, North Dixie Highway, Miami Gardens Drive to name a few. If you just want to ask questions in order to sell your North Miami house, I'll be more than happy to answer them!

You can always reach me via text or calling on my cell: 786-231-9362.

Have an awesome day!

CLIENT CASE - VANESSA

My first deal was a Short Sale back in 2007. This was actually given to me as a referral from one of my apprentices. Yes, at the time I was engaged in teaching others how to start and run a successful Real Estate business. Yes, I'm still doing that and if you'd like more information on how you can get involved feel free to contact me about it.

Anyway, Vanessa was a victim of loan fraud which was running rampant at the time. She purchased a 1 bedroom 1 bathroom condo for $425,000 in Normandy Isle, Miami Beach. This was considered a norm at the time but today that same unit is worth about $45,000. Who knew how far prices would have dropped in only 7 years.

When I approached her she had no idea how she was going to handle her new debt of half a million dollars. During this time the markets was already beginning to collapse. I was able to negotiate the loan down to $126,000.00 and purchase the property myself. 

After the ordeal was over Vanessa was able to get her financial life back in order and start fresh with a clear mind WITHOUT a foreclosure mark on her credit. This deal produced several more referrals in the same apartment complex hence I was able to help several more property owners in the same way I was able to help Vanessa. 

Eventually a developer purchased the entire building, demolished it and started a new project around the middle of 2013. By that time everyone had already been short sold or foreclosed on (if they hadn't called me.)

The experience is one that I'll never forget as this has allowed me to break through to the pre-foreclosure and short sale markets of South Florida. Since 2007 I've helped a countless amounts of property and home owners out of bad situations. The convenience of being able to work with a competent buyer who is able to purchase a property in cash within a very short time is priceless. The ability to avoid the lengthy process of listing a property with a Realtor and waiting for it to sell should be avoided like the plague especially if you know that you've got to receive cash quickly or move into a new location within a short time frame. 

It does not matter what your situation is, I can always find a way to help. Even if you're not interested in selling and want to STAY in your home and STOP or prolong the foreclosure as long as possible - I can still help you. All you have to do is pick up the phone and make a short, simple and sweet call to (786) 231 9362.

What I do, I do for you.