Short Sales, Foreclosures Virginia Beach
Short Sales & Foreclosures
Sean Schroeder

Announcements


Agents, do you have a Short Sale, Lease option or any special situation real estate that has to be sold?  Contact me regarding a free placement of my site.

Behind on your payments?
If you are behind on your mortgage payments don't wait. Call me today, don't become a statistic, protect your credit! ...
Home Buyers Bus Tour
Looking for a home with instant equity? Do you want to be ahead of the curve? Call today to reserve your seat on the Real Estate-XChange Home Buyers Bus Tour call today for bus tour schedule 757-839-5458 ( Kathy Schroeder Real Estate Assistant) ...
Short Sales all of Hampton Roads
Advertise a short sale on HRSHORTSALES conact seanschroeder@757realproperty.com Virginia Beach, Chesapeake, Norfolk, Suffolk and Portsmouth ...
 

Big Changes are coming to HRShortsales


Stay Tuned BIG Changes are coming to HRShortSales.com....


Short Sale FAQ


What is a short sale?

A short sale occurs when the sale of the property is less than the amount that is owed on the property.  When a borrower receives an offer to purchase under such a circumstance, the purchase must be made with the contingency that the bank(s) must approve the sale.

Do I have to be behind to sell my house as a short sale?

The short answer is No.  However, there are a few rules rules that apply.  The banks will only consider a short sale approval if the borrower can demonstrate a "financial hardship" or a reasonable expectation of such a  hardship. 

My home is no longer worth what I paid for it.  Does this qualify as a hardship?

No, the loss of equity or value of your home is not considered grounds for a financial hardship.

As the borrower how do I proceed with a short sale?

Every bank is different, but most follow the same core concept.  Just as you applied for the loan on your home, you have to apply for a short sale.  This process requires that you put together a "short sale" package to include:

- Last 2 W2's
- Last 2 Pay check stubs
- Last 2 bank statements
- Hardship Letter
- Letter of Authorization
- and other documents as required by the lender


Virginia Beach Homes For sale


 

Short Sales Seminar for home owners In Virginia Beach and Chesapeake

Do you find yourself "upside down", owing more then what your house is worth?  
Have you suffered a job loss, or anticipate a reduction of your income in the foreseeable 
future?  A Short Sale can help you avoid foreclosure and the government may provide you "relocation" 
money.  There have been many changes to the Treasury departments guidelines for short sales.

Register for the next short sale seminar, send an email with your name, phone number, email address and address to : short_seminar@757realproperty.com

New Short Sales guidelines affective April 5, 2010

Short sales are a norm in today's real estate market.  A short sale occurs when the bank, who holds the mortgage, allows the home to be sold below what the current home owner owes. 

Under  HAMP, Home Affordable Modification Program, exists the new HAFA program or Home Affordable Foreclosure Alternatives program.  HAFA provides incentives to the home owner and the bank to pursue a short sale solution.

Changes to the Short Sale Process

  • Pre-Approved Short sale terms
  • Sellers are fully released from future liability ( 1st mortgage )
  • In order to help prevent second charge lenders from holding up short sale approval, they will receive a minimum of $3,000 from the sale proceeds and a further $1,000 from the government.
  • Those short selling a house will get $1,500 in financial assistance from the federal government to help with the cost of relocating to a new family home.
  • Lenders will have 10 days to approve/reject an application.
  • Borrowers will be given a minimum period of 90 days to sell their home.
  • Under the new guidelines, struggling homeowners are advised to make contact with their lender(s) as early as possible in order to determine what they deem a fair sale price to be.

 


Stop Foreclosure!



Caution:  Beware of investors who act as they have
your best interest in mind.

Are you behind in your house payments due to a mortgage product that got out of control, loss of a job, separation or some other unplanned event? 
You don't have to go it alone!  There are various options available to stall or even temporarily stop foreclosure.  Fact is that the banks don't want to foreclose the average foreclosure has been estimated to cost banks over $50,000!, and if the bank does foreclose it could cost you up to 7 years on your credit report.  7 years before you can purchase a home, purchase a car and in some instances rent a home!   

Call me today, let me review your current situation and present you with a plan.  It is up to you to decide what to do.  My time is your time, call today for your free confidential consultation Day or Night!
 

Remember the banks won't wait why should you! 

Sean Schroeder, REALTOR
757-839-3954

 


Short Sale


Homes with EQUITY- SHORT SALES
GET YOUR DEAL TODAY

What is a Short Sale?
A short sale is designed to help home owners avoid foreclosure, is a workout program that allows a borrower to sell the property, even if the proceeds are less than the loan payoff due to declining market value. Short sales can help homeowners avoid collection or foreclosures, whch can adversley affect credit reports and possible tax liabilities. Short Sales are reported on your credit report as "Paid in full for less than full balance" If you find yourself behind in your mortgage payments, or know that you soon will be, do not delay. Call Schroeder and Associates, we are ready to help you and your family. Call now to schedule your no obligation, and confidential short sale consultation. We will come to you when it is convient for you, we will work with your schedule. Do not delay call night or day! ...
Short Sales Listings in Hampton Roads
Loooking for a great deal on a home? Call today for your FREE Short Sales property list CALL 757-839-3954 Virginia Beach, Norfolk, Chesapeak, Suffolk, Hampton ...
 

Short Sales at The Real Estate XChange

 

 

 

 

Short Sales, Bank Owned, REO properties in Virginia Beach, Chesapeake, Norfolk and Suffolk
Homes for sale by the banks!  Currently banks are taking homes at 20,30,40 percent below market price! Interested?  Check out this list of Bank Owned Homes Once you take a look, call me!


 

 


 

 

Please browse my website for listings, reports and important local real estate information.

Sincerely,

Sean Schroeder
The Real Estate XChange, REALTOR
Direct number: 757-839-3954
FAX Number:  757-410-7894
office 757-277-9779

517 Baylor Ct.
Chesapeake, Va. 23320

 

Equal Housing Opportunity ( EHO )


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