Florida Homes and Condos for Sale: February 2012

So often, more than seeing something flashed correctly, I see how not to flash a chimney, or a roof.

Roof tar does not flashing make!  Period.  It's great UNDER "stuff," like shingles, or vent covers, and when under it is long lasting.  But it is not intended to be installed (my word is "gooped") over "stuff!"

But it does inspire song!  Please, feel free to sing along.  It's best to bob your head too...

 

I SEE A RED CHIMNEY AND I WANT IT PAINTED BLACK,

 

NOT ONLY IN THE FRONT, BUT UNDER AND IN BACK!

I LIKE TO GOOP MY STUFF ON TOP OF EVERYWHERE...

GOOPING BUMPS AND CRACKS, ALL OVER, I DON'T CARE!

NAH, NAH, NAH, NAH, NAH, NAH, NAH,

 NAH, NAH, NAH, NAH, NAAAAAHHHH.

 

Well, you get the idea.

And just in case the gooping on the outside didn't do enough, there is always inside!

Thank goodness for the universal nature of poly foam -- the other white goop!

This poly foam is placed just under the edge of the roof line in that second photo.

Perfect!

My recommendation:  it can get frustrating, but never buy a home without a home inspection!  Many people would look at this and think it is okay!  IT IS NOT!  And a home inspector would know that.

I do have fun though.  And making up songs along the way doesn't hurt!

Jay Markanich Real Estate Inspections, LLC

Based in Bristow, serving all of Northern Virginia

www.jaymarinspect.com

 

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1. Do I have to be behind on my mortgage payments to qualify for a Short Sale?

• Not necessarily. Some lenders will negotiate a settlement if you are current on payments. You won’t really know until you go through the process. If you are current on payments the lender may very well require you to “participate in the loss” by making a cash contribution, signing a promissory note or both.

1. What is a deficiency and how do I avoid it?

• A deficiency is the difference between the amount of money you owe and the amount of money paid to or collected by the lender. The deficiency is the “Short” in a Short Sale. A deficiency ALWAYS exist with a short sale. You cannot avoid it unless you just keep paying on your mortgage obligation. The real question is..........

1. What happens to the deficiency?

• The deficiency can be waived, written off, paid later, settled or the lender can, at least in Florida, choose to go in front of a Judge and ask for a Deficiency Judgment against you.

1. What is a Deficiency Judgment?

• A Deficiency Judgment is when a Judge issues a Judgment making you personally responsible for the deficiency and giving the creditor the right to go after you for the money you owe. In Florida the creditor has 5 years from the creation of the deficiency*** to ask for the Judgment and another 20 years to collect on it if granted. To collect they may take assets, levy bank accounts and garnish wages. ***Please seek legal advice on this matter.

1. Will I have to pay taxes related to the short sale?

• Maybe. A short sale IS a tax event. Just as with any real estate transaction the sale is reported to the IRS. In addition the “Short” may be written off as a loss to the lender. A loss to the lender is income to you. How this income is taxed is a question for your tax professional. You may also refer to the Debt Relief Act. Unless extended the Debt Relief Act is set to expire at the end of 2012.

1. How will a Short Sale affect my credit?

• How credit scoring works is one of the great mysteries of the universe! The Short Sale itself is not reported as “Short Sale”. Missed and late payments are reported. Also, how the transaction is reported makes a difference. Is it reported as “settled..”, “paid...”, “charged off..”? And have you been paying your other bills? There are just too many variables to be able to give you a precise answer. If your credit score is important to you then my advice is to make your mortgage payments.

1. What advantage is there to doing a Short Sale over just letting the lender foreclose?

• Credit scoring aside....on average you can get another mortgage within 2-3 years assuming you pay all of your bills after a Short Sale. A foreclosure will affect your ability to get a new mortgage for 5-7 years. A Short Sale also gives you the opportunity to negotiate a settlement. It gives you some control over the situation. With a foreclosure you are 100% at the mercy of the lender.

1. How long will the Short Sale process take?

• A normal Short Sale with no complications will take on average 2-3 months from time of contract. Some go much quicker and some take much longer.

 

1. Will my Short Sale be approved and closed or am I wasting my time?

• We close more than 90% of our Short Sales. As long as you participate, by providing me what I need, when I need it, then yes, your Short Sale will be approved and get closed.

1. When will I have to vacate the property?

• Unless we are able to negotiate something different the day of closing belongs to the Buyer. Most lenders will not allow you to rent the property back after closing so plan on moving. You will normally have 30-45 days notice prior to closing.

1. Who pays your commission?

• The listing agreement is between you and I. So legally you are responsible for paying my commission. However, just as in a regular transaction, the costs of the sale are deducted from the purchase price. This means the buyer brings money to purchase the property and we pay everything out of that. The lender gets whats left. You pay nothing. Unless it is required by the lender and you agree to do so.
  

Additional information:


• CDPE Site
• Contact Bryant
• FannieMae/HAFA Program
• FHA Preforeclosure Sale
• From The Lawyer's Mouth
• HAFA FAQ
• HAFA Guidelines
• IRS Debt Relief Act
• Is Your Loan Owned By FNMA?
• Military HAP Program
• My Short Sale Story
• Property Search Map
• Sample Approval Letters
• Short or Stay?
• Short Sale Approvals
• Short Sale FAQ
• Short Sale Network
• Strategic Short Sales
• Testimonials

 

I hope this helps. Please feel free to contact me with any additional questions you may have.

Are you facing foreclosure in Florida?

 



 

 Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.



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Customer Testimonials

Tutas Towne Realty has already successfully negotiated Short Sales with the following Lenders and Investors.

Chase Short Sale,Sun Trust Short Sale, GMAC Short Sale, Wells Fargo Short Sale,Bank of America Short Sale,USA Bank Short Sale,PNC Bank Short Sale,Citi Short Sale,HomeEq Short Sale,Fifth Third Bank Short Sale,ING Direct Short Sale,GreenTree Short Sale,Capital One Short Sale,ASC Short Sale,First Horizon Short Sale,E-Trade Short Sale,Transland Financial Short Sale,US Bank Short Sale,IBM LBPS Short Sale,
Nationstar Short Sale,BAC Florida Short Sale,Real Time Solutions Short Sale,Fannie Mae Short Sale
FHA Short Sale,Selene Finance Short Sale,DTA Solutions LLC Short sale,Flagstar Short Sale,IndyMac Short Sale

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Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.