Short Sales 101

How can I get out from under the debts on my home?
If the market value of your home is less than what you owe on your current mortgage, you may qualify for a legal, lender approved solution known as a Short Sale. A Short Sale can be accomplished by negotiating with your bank or lending institution to accept a sale of your property to a third party buyer for less than what you currently owe on your mortgage balance.
The short sale of real estate is not a questionable practice in today's softening real estate market, it may be a necessity. The short sale transaction is a legal and much more beneficial alternative to foreclosure or even bankruptcy. Lenders are motivated to accept short sale offers to for a number of good reasons. The short sale of your home can result in a win-win-win situation for all parties involved:
Win #1: You win by getting out of a financial predicament a clean transaction and a salvaged credit score. Your property is saved from foreclosure, thus helping you to save your credit rating. Allowing you home to proceed into foreclosure may adversely affect your credit for up to 7 years.
Win #2: The lender wins by avoiding timely and costly foreclosure proceedings which could lead to an even more costly expense of ownership of the real estate by the by the bank.
Win #3: The buyer of your property wins by getting a solid property at a good market value.

This article was contributed by Martin Chavoya@ AGFinancial Group. "If you are seeking support negotiating your own Mortgage or exploring the possibilites of a Short Sale, email http://us.f833.mail.yahoo.com/ym/Compose?To=mchavoya@agfinancialgroup.net or reach me toll free, 866) 571-0364 Ext. 134. We respect the delicate nature of any circumstance and strive to provide the best solution for your family, your peace of mind."

Speaking of relief......?

I can hardly wait to get "the check"! The rebate: Pres. Bush's solution to the gloom of recession. A few comments imply that we could all use this little break. I'd love to indulge, or splurge, like the "relief" was designed, but I am sure it will go straight to a debt! How accurate is the data base that collects the information regarding "OUR" economy?
http://biz.yahoo.com/ap/080128/economy_stimulus.html (latest information on rebate)

How many empty homes are on your street? In your neighborhood? How long have they sat empty? It's hard to believe these homes once belonged to a family.

The air this morning was clean, but the moisture from the rain and the dark clouds created a barrier. It just didn't feel as cold. It formed a dense protective layer. I imagine that the weather is far more severe in my hometown. I picture my family, warming up the car, de-icing the windshield, layering on the warm clothes, gloves, hats, scarfs, etc. Plus they take on the usual morning ritual we all participate in just to get kids to school, parents off to work. I marvel, "are they on time?", "do they have those manic mornings, running from room to room looking for the missing shoe?"

A home is a home, no matter where you make it. I really want to keep mine. I like our little craziness each morning before school. I love the afternoon race to pick up each child, have lunch, work on homework. This is the life I had hoped I would have. I love this family stuff. It's a lot of work, but worth every tear! (we even had some of those this morning.)

Californians, be grateful for the rain. The reports are so completely comical regarding our "STORM", and "be sure to stay indoors!", etc.! LOL! It's rain! It makes things grow! We NEED it! I'm just glad it's not -20 degrees!! Stay warm, family. I love you. Thanks for all your support.

Alison