Windermere, FL – The Stop Foreclosure Institute recently received a question from Chad. Here is Chad's Question. "I own a condo in Hackensack, New Jersey. I purchased in 2007, pre-construction for $375k and have a mortgage balance of $337k. I have been trying to sell my unit for upwards of 2 years with no success. I have been unable to refinance because my unit is worth much less than the balance on my mortgage. I have been denied a loan modification. I must move by this summer and do not want to make a penny on the sale. I just want to be rid of this property. I have been advised that I would not get approved for a short sale because I do not have a financial hardship. However, I am not sure this is correct. I am seeking advice as to what my options are.” said Chad. Discover how other... 01/12/2011

Is having a real estate agent something that you actually need? You have heard of others selling their own homes, and you may have considered doing it on your own as well. It is important to understand though, that almost everyone who tries selling their own home in Windermere is really leaving money on the table. Sometimes this can add up to be thousands of dollars, due to the lack of supervision by a real estate agent. Yes, obtaining guidance from a property agent can earn you more profit than you think. Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at gitta@gitta.com. I will contact you for a free consultation. Even though a real estate agent makes a commission on your home sale, if you compare the profit ... 01/11/2011

Windermere, FL – The Stop Foreclosure Institute recently received a question from Mau. Here is Mau's Question. "Is it legal for a short sale seller to buy the house he is selling on short to reduce his mortgage loan?” asked Mau. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Here was our answer. We don’t know of any law on the books that forbids a person from buying a home they are short selling. Here is what we do know. Most banks and lenders don’t allow it. If the short sale negotiator sees a sales contract with you as the buyer, then they won’t approve the short sale. Sure, you could do fishy paperwork to buy the home yourself. But, you risk getting in trouble for fraud if you were caught. I think the biggest reason people aren’t tryi... 01/11/2011

Windermere FL – The Stop Foreclosure Institute recently received a question from Dave. Here is Dave's Question. "I bought several investment properties at the peak of the market. The homes have dropped in value by almost 40% and I am losing money on the rent every month. I am sick of writing a check every single month to cover the loss. I would like to short sale these properties if possible. I am just wondering if the banks would allow it. What do you think?” asked Dave. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Here was our answer. Dave, there is no answer that is correct 100% of the time. In your situation, it depends on your lender. Many lenders will allow a short sale. Others won’t talk to you until you are behind on the payment... 01/10/2011

Windermere, FL – The Stop Foreclosure Institute recently received a question from Steve. Here is Steve's Question. "I divorced six years ago. We had had our home on the market for some time, but it wasn't selling. My ex needed money to buy another home. Since it wasn't selling, we refinanced and split the equity. She used the money to buy another house and I stayed here. I put the home back on the market a little while later. Today, several years later it still isn't selling. The market value today is $267,000. I owe over $300,000 today. I am having trouble making the payments. I asked my agent about a short sale, but they didn't offer any help. I want to do the right thing, but can't afford the home anymore. I have called GMAC, but they haven't offered any help either. Should I just s... 01/10/2011

  Windermere FL – If you are looking to buy a home, then you probably want to get the best deal. January is the best time to be purchasing a home. Let me explain why. A lot of people put their homes on the market in January. In addition, there are very few people looking to buy a home in January. This is because most of the people transferring for a job have already bought a home. Their companies want them to have purchased by the end of the year so they can write it off on the corporate tax bill. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. The remaining buyers are usually waiting until Spring to go house hunting again. This gives you 2-3 months of prime negotiating time. It is more than likely that you will be the only offers most se... 01/06/2011

  Windermere, FL – Many agents and buyers are scared of short sales. Here is something that I do to make the short sale process easier for the home seller. Before I start negotiations with your lender, I will order a complete title search. Here is why I do that. I want to know all the costs upfront, before I give the bank a number. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. If I don't do this, then the short sale lender will approve the short sale at a certain price. We can get to the closing table and discover there are unforeseen costs. Then we have to go back and re-negotiate with the short sale lender. This can be tough because they already have a higher number in mind. Sometimes you have to start the short sale negotiations all ... 01/05/2011

Windermere, FL – Loan Modifications are tough. Lenders don’t want to reduce your payment or reduce the amount you owe. It’s insane.Don’t even get me started on the topic of the nation’s courts being tilted in the favor of the big banks! Most loan modifications end in failure because the banks are so hard to work with. In a recent story in the news, a New Jersey Company is accused of defrauding homeowners out of thousands of dollars. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. According to the story, one couple had more than $2,800 billed to their credit card but received no loan modification. Another customer paid more than $3,500 and received no assistance. Your best bet for a successful loan modification is to negotiate it yourself.... 01/03/2011

Windermere FL – The Stop Foreclosure Institute sometimes receives e-mails from people that short sales are impossible. Well, short sales are not impossible. They just take time. Here is an example. The Stop Foreclosure Institute was attempting a short sale on a property. The bank turned down an offer for $220,000 on the house. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Today it looks like an offer for 185k will be approved. Why is that? The first offer was submitted 4 months ago. The bank did an appraisal. The appraiser thought the house was worth $265,000. The lender rejected the offer because it didn't meet their guidelines. We put the home back on the market and waited for another offer. The property values continued to decline. T... 01/03/2011

Windermere FL – Most homeowners negotiating a loan modification are not amazing negotiators. After all, it’s not every American’s job to be a great negotiator. America is built on hard work and treating people fair. Most stores offer products at a good, fair price. The price is the price. If you don’t like it, then don’t buy it. But, don’t kid yourself on loan modification negotiators. The lenders teach them how to negotiate. They train them to do everything they can to squeeze as much money out of you as possible. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. The supervisors tell them, “If it means not modifying the customer’s loan, then go ahead and do what you need to do. Don’t modify their loan.” Here is a trick they use to avoid ha... 12/30/2010

Windermere, FL – A lot of people in today’s lending market are stuck. They locked in their interest rate when rates were higher. Now, they are barred from refinancing because they are upside down on their house. Whenever they apply for a new loan, the first thing the lender says is, “The current property value is less than what you owe. We can’t lend you enough money to pay off your old lender.” Do they have any options? Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Their best option is probably a loan modification. Their lender is more than likely to work with them since their home dropped in value. They may have to stop making payments before their lender will approve a loan modification. But, some lenders are even modifying loans tha... 12/29/2010

Windermere FL – This is one of the first questions potential short sale sellers ask us. “I heard of something called “forgiveness of debt income and that it is taxable. How does that work?” they ask. The following article is my personal opinion only. I recommend that you consult with a competent legal or tax professional before moving forward with a short sale. In most cases the answer is that a short sale will usually not cause you to owe income tax. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. It used to be that you owed income tax on any forgiveness of debt. When a lender decides to forgive all or a portion of a borrower's debt, the forgiven amount is considered as income for the borrower and is liable to be taxed. Here are the foll... 12/27/2010

Welcome to Lake Clarice Plantation in Windermere. Presenting  LAKE CLARICE PLANTATION entrance marquee Lake Clarice Plantation  is nestled in the quaint Town of Windermere , which is the crown jewel of the most extremely wealthy Communities in Central Florida. Many celebrities call Windermere home. It is just minutes from Downtown Orlando and the Orlando airport.  Windermere is known as the Town Among The Lakes. It should not be difficult to find the right property for you, many short sale and foreclosure opportunities. Lets get started today and find the real estate that you have been waiting for. Buying or selling your home in Lake Clarice Plantation we can assist you! We offer 24 hr around the clock service for all Lake Clarice clients When your estate is in exhibit for potential buy... 12/25/2010

Windermere FL – GMAC, was the financing arm of General Motors. It was taken over by Uncle Sam and has been mostly privatized as Ally Financial. However, many people still have loans from the original GMAC. Some of these homeowners want to short sale, but are curious about how it works. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. A GMAC short sale is not too much different from other short sales. To start a short sale with GMAC, first call them at the 800 number on your most recent statement. That number is currently 800-850-4622. Most of GMAC’s loans have been sold. The first thing you or your short sale realtors should do is find out who owns the loan now. On our last GMAC short sale, the loan had been sold to a Wall Street “Sliced a... 12/22/2010

Windermere, FL – Many of the short sale sellers we help are selling their home to avoid foreclosure. In addition, they are receiving lots of harassing calls from debt collectors. These debt collectors seem to think that if you call someone with no extra money, then you can still get them to pay. Here is a little tip on how to stop their phone calls. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. A friend of mine looks for missing people. The database he uses is also a prominent debt collection database. He told me something interesting. Apparently people are suing debt collectors for breaking Debt Collection Laws all the time. These lawsuits are expensive for them to defend against and easy for the consumer to file. (I can’t agree more. I... 12/21/2010

Windermere FL – If you are facing financial hardship, then paying credit cards and other unsecured debts is your lowest priority. An unsecured debt is a debt where they can't take away your car or house. A secured debt has something as collateral, such as your car, house, or anything else of value. The most commons unsecured debt is a credit card. When you stop paying them, they will call you nonstop. The reason is because they don't have any other way to collect from you. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. They can't come get your car or take your house. So, they make up for that by blowing up your phone with harassing calls. In addition, they use deceptive tricks to get you to pay them. For example, there are Federal Laws th... 12/20/2010

Welcome to Hideaway Cove, Orlando, Florida, 32836 Presenting Hideaway Cove entrance marquee. Hideaway Cove is nestled in the quaint Town of Windermere , which is the crown jewel of the most extremely wealthy Communities in Central Florida. Many celebrities call Windermere home. It is just minutes from Downtown Orlando and the Orlando airport.  Windermere is known as the Town Among The Lakes. It should not be difficult to find the right property for you, many short sale and foreclosure opportunities. Lets get started today and find the real estate that you have been waiting for.   Buying or selling your home in Hideaway Cove we can assist you! Facing a foreclosure? Try a short sale! We can help! Call today for VIP service. Hideaway Cove Community Quick Facts!  Neighborhood established in... 12/19/2010

Windermere, FL – The Stop Foreclosure Institute recently received a question from Richard. “I accepted a job transfer and had to move. Unfortunately we were upside down on the house. I decided to rent it out rather than short sale it. The renters just moved out. I just checked the house. They trashed it! I could rent the house out again, but I would have to spend several thousand dollars fixing it up first. What would you recommend that I do?” Richard asked. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Here was our recommendation. That is a tough situation. You could fix up the house and rent it out again. But, you risk having the same thing happen all over again. Here is the other problem. The amount you can charge for rent has gone do... 12/17/2010

Windermere, FL – We get this question a lot from people. “I am upside down and need to move. I would like to buy another home. Can I do that?” they ask us. Today they can. FHA (the Federal Housing Administration) has a new program that enables you to short sale your existing home and buy a new home at today’s reduced prices. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. The home you purchase would have to meet FHA’s standard lending guidelines. FHA is a great mortgage program. In fact, more people buying a home in today’s market are getting an FHA loan. Here is what you would need to do to participate in the program: 1. Determine if you qualify to participate in the program. We have been told that you will need the following. (Guidelines... 12/17/2010

Orlando, FL – The Stop Foreclosure Institute recently received a question from Jennifer. She is having a hard time selling her home. “I have had my house for sale for a little while, but it hasn’t sold. No buyers have come to look at it. At first I thought the price was fair. But, now that no one has come to see the home, I am beginning to realize that I am upside down. My realtor hasn’t talked to me about a short sale. What should I do?” Jennifer asked. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Here is what I would recommend to her. First, talk to your current agent about a short sale. The might be uncomfortable with bringing it up. Short sales are a sensitive issue. Some people get offended when you ask them about a short sale. It ... 12/14/2010