Paul & Jerri's Blog

  401 Gladiola Drive, Auburn, GA is listed for $102,000.  The home has 3 bedrooms, 2 baths, laminate hardwood and ceramic tile floors, large eat-in kitchen, formal dining room on the main level plus 2 additional bedrooms, 1 bath and a game room in the finished basement.  It is short sale but the...

Employees with security clearance positions, either military or civilian, may be at risk of losing their job if they have a foreclosure on their credit history.   In 2009, we listed a home for an owner who had purchased a home for her brother.  When he couldn't pay the mortgage and she was unable...

Veterans are jumping on the "midnight train" to Athens, GA.  They are taking advantage of their Post-9/11 GI bill education credits and coupling it with VA loan benefits.  There are a lot of benefits for veterans looking to attend college, but the GI Bill is arguably the most important. The Post ...

On FHA loans, there is a program to get a preapprved price that the investor has agreed to accept.  Here are 3 homes that are under this program. 220 Jeremy Drive, Colbert, GA - approved to sell for $102,000!  Owner paid $134,000 in 2008.  Great house at at great price!  3 bedrooms, 2 baths, grea...

Bank of America has been one of the most difficult banks to work with on short sales.  Their representatives say it's because they have so many requests and that's probably true.  However, I must say that my recent experience with Bank of America short sales has been great!  I submitted offers on...

Yesterday the new HAFA regulations were adopted by several lenders including Bank of America, Wells Fargo, CitiMortgage, and Chase.  Matt Vernon from Bank of America short sales stated that when a homeowner is denied a loan modification under HAMP (Home Affordable Modification Program), they will...

There is a new program, effective April 5, that is designed to get short sale offers approved quicker.   Over the past couple of years, it has been very difficult to deal with lenders to get short sales approved.  The banks have been overwhelmed with loan modifications, short sales, and foreclosu...

Distressed Property Institute Reaches 20,000 Members: Thousands of Agents Working to Provide Alternatives to Foreclosure Friday, 12 March 2010 18:29 CPDE continues to lead the real estate industry in short sale and foreclosure avoidance education with this historic milestone.AUSTIN, TEXAS – Marc...

We received 2 offers on this home but because of the work/time involved in getting Bank of America's approval for a short sale, both buyers terminated their offer.  So now, I received a message this morning with a list of a few minor items to submit for the final approval.  These items must be se...

APPLYING FOR A NEW LOAN:  For future loans, some lenders will not approve a loan for homeowner who loses a home to foreclosure for 5 years.  With a short sale, a homeowner may be eligible for a new loan in 2 years. CREDIT SCORE:  Credit score may be lowered from 250 to more than 300 points with a...