Naptown Blog - Annapolis/Anne Arundel Real Estate

Loan Servicers Would Rather Foreclose than Approve Loan Modifications or Short Sales in Annapolis (or anywhere else for that matter So say loan servicers.  Actually, they deny this vehemently, but sadly, in many, many cases, it is the turth.  Loan Modifications and Short Sales no!  Foreclosure, y...

If you have the chance, you'd better grab it!   Mediation between borrowers and lenders has been mandated by the state of Maryland since July 2010 when a property is docketed for foreclosure provided the borrower requests it in a timely basis and pays the required fee. (Docketing is the submissio...

TOP 10 QUESTIONS FOR A SELLER TO ASK THE WOULD BE SHORT SALE LISTING AGENT  Suggestion: Print this list and ask your prospective agent each question.  By the end you will KNOW if they are qualified to handle your short sale.  If they sputter iin response to any of these questions, you would be wi...

 Two Questions To Ask to Separate Your Wanna Be Short Sale Agent From a Short Sale Pro Have you been able to get foreclosure sales stopped/postponed?  Follow up: Under what circumstances?  Why was it necessary?      2.   What special contract provisions do you recommend to minimize the likelihood...

TOP 10 QUESTIONS FOR A SELLER TO ASK THE WOULD BE SHORT SALE LISTING AGENT  Suggestion: Print this list and ask your prospective agent each question.  By the end you will KNOW if they are qualified to handle your short sale.  If they sputter iin response to any of these questions, you would be wi...

Maryland's Governor Martin O'Malley recently signed legislation banning taxation on the forgiveness of debt on short sales.  This brings Marylands treatment of debt forgiveness into line with pre-existing Federal Tax Law. The Federal Government's  Mortgage Debt Relief Act of 2007 as described on ...

I continue to be amazed at the number of novice "short sale experts" there are now.   "Expert" doesn't mean the agent ever closed a short sale, but they do have that FILL IN THE BLANK Short Sale Certification.  Learning the mechanics of short sales does not an expert make, particularly when you c...

  For starters, if the borrower's servicer offers them participation in a HAFA short sale, they must respond within 14 days or lose the opportunity to participate. Without getting into all the technical details of HAFA, there are some things I think all borrowers and agents should be aware of to ...

Home Affordable Foreclosure Alternatives sounds good at first blush, but is it really going to help?  I have borrowed verbatim chunks from Supplemental Directive 09-09 (HAFA) to introduce what HAFA is about and I have added comments where I see continued opportunities for game playing on the part...

  HOW TO EVALUATE A LISTING AGENT IF YOU ARE REPRESENTING A BUYER     1. What is your experience representing sellers in short sales?    Dealing with a knowledgeable and experienced agent who has successfully closed many short sales is the sine qua non for a successful short sale.    Thousands of...