Patrick James's (ptboxman) Blog

So is it immoral to strategically short sale your home or stop paying your mortgage when you can afford it? Is the moral obligation to repay your mortgage debt greater than the moral obligation to provide financial stability for you and your family? If I was forced to choose my family or my bank...

The answer to this question depends on your situation, but there have been several occasions where I have had to tell a Connecticut homeowner that I can not help them complete a short sale in Connecticut. Here are a few basic guidelines for when a short sale is less likely to be approved. There ...

This short sale is proof that no matter how much we have our affairs in order, sometimes these deals just take longer than they should because of bank incompetence. We had a contract within the first 60 days on market, and had a quick counter offer from the first lienholder for the short sale, N...

Fantastic in sight on what not to do when considering writing an offer on a short sale.  My hat's off to Anna on a fantastic, well written blog. This applies everywhere, not just in Phoenix. We get these calls all the time here in Connecticut!Low Ball offers on Phoenix Short Sales Ok folks listen...

Sometimes short sales are just painful. This was one of those instances. Shortly after we listed, Bank of America sold both of my client's loans. The first to Nationstar and the second to Greentree. This caused some additional paperwork on our part, refilling out authorizations and financial doc...

A fairly routine Bank of America short sale. This particular client had not made a payment in close to 2 years, and there was not even a lis pendens filed yet. I find this pretty common when the loan is owned by Bank of America. We priced the property aggressively, and were able to have a solid ...

Nearly half of our short sale inventory are loans backed by HUD or FHA. Borrowers use an FHA loan to finance their purchase because it is one of the few remaining programs where you can finance over 95% of the purchase price. When the economy went into the tank, shed jobs like crazy and real est...

Hopefully my dentist doesn't take offense to the title. Dr. Ted, you and your staff are first class, and make every trip to your office as easy and painless as a 1 lien GMAC short sale. If you ever need a dentist in Connecticut, I highly recommend Thaddeus S. Michalski DMD in Rocky Hill, CT. FHA...

Fire Chief Edward Badamo announced via email yesterday that on September 11th 2012 at 10 am, the South Fire District will hold a 9/11 memorial ceremony and groundbreaking at the South District Firehouse on Randolph Rd and he encourages all members of the community to attend. Last year on the 10t...

I received a call from these clients after they had been through the Connecticut judicial foreclosure mediation program. After months of going back and forth with Bank of America, it was finally decided that their only option left was to short sell their Windsor, CT home in a short sale. This pa...