Dave Halpern Louisville Short Sale Expert (502) 664-7827

Posts Tagged ‘Louisville

In a Short Sale “Is it better that I move out?”

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In a Short Sale “Is it better that I move out?”

Sellers ask this all the time. The answer is the seller can stay in the house all they up to the sale to the new buyer.

There are actually many questions behind this question:

Question: Will the bank be angry that I’m living in the house without paying?

Answer: The bank realizes that many borrowers can’t pay. That’s why they have the short sale program. You didn’t create this housing slump or job market crisis.

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Question: Does the bank want me to move out because I’m not paying?

Answer: No. The bank prefers you stay in the house. If you are in the house they know the house will be maintained, the grass will be cut, the utilities will be on, pipes won’t freeze, and the likliehood of vandalism will diminish.

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Question: So the bank is OK with me living free in the house?

Answer: Actually, some lenders REQUIRE that you stay in the house until it sells. That’s how important it is to them that you remain.

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Question: But I’m afraid that the sheriff will show up with no notice and throw me out.

Answer: The sheriff cannot evict you before the house actually sells at the foreclosure auction. You will get many letters and notices prior to the auction. Please read a previous article xxxxxxxxxxxxxxx for more details.

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Question: What if I must move out or really don’t want to stay in the house anymore?

Answer: want to stay In most cases that’s fine also. If you have to move on with your life that’s understandable. Please check with your short sale specialist Realtor if moving out will impact your eligibility.

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Also, a skilled short sale Realtor will keep you informed of progress and will get your auction postponed to enable the short sale to be completed so you can avoid foreclosure.

These questions are all valid concerns. But notice that the answers are the exact opposite of conventional wisdom. Such is the nature of short sales.

If you are in the Louisville, KY area please call me (502) 664-7827 at any time with any questions you may have. Nights and weekends are welcome, too. Call me at any time that is most convenient for you.

Dave Halpern

Real Estate Broker, Louisville Short Sale Expert Realtors

(502) 664-7827
Locations of visitors to this page

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Sellers looking for foreclosure help in Louisville, KY should call Dave Halpern, Realtor, Louisville Short Sale Expert Realtors, (502) 664-7827. I will dedicate to you all the time you need for a full explanation of the process. We are compassionate, caring and patient.

I will provide detailed information about foreclosure options and short sales. We help dozens of sellers avoid foreclosure every single year in Louisville, Jefferson County, Oldham County, Bullitt County, Shelby County, Nelson County and Spencer County.

We can help. You have options. Call even if you think your house isn’t sellable. Many testimonials available.

 

Foreclosure and Divorce in Louisville – Beware When One Spouse Gets The House and The Other Gets The Mortgage

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When the divorce agreement awards the house to one spouse and the mortgage obligation to another, this could spell great peril. The spouse in the house often doesn’t know if the “mortgage spouse” stopped making the payments.

The billing address usually gets changed to the mortgage spouse’s new address. The spouse in the house does not get any late notices about non-payments until it’s too late.

Even though house spouse can claim that the mortgage spouse is in contempt of the agreement, the damage is already done. The back payments and legal fees often make it too hard to catch up and cure the arrearage.

The house is now headed to short sale or foreclosure. Foreclosure often leads to bankruptcy.

So what should be done if you are a spouse that got the house?

  • You still have the right to call the lender every month to confirm the payment was made.
  • You have the ability to check the payment history online.
  • You may also call your lender to determine what other early alert systems they have. Can they email you late notices? Can they mail you duplicate billing statement copies?

You don’t want to be totally blindsided about the arrearage when the sheriff knocks on your door to serve you with an unexpected foreclosure lawsuit.

Dave Halpern

Real Estate Broker, Louisville Short Sale Expert Realtors

(502) 664-7827

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Sellers looking for foreclosure help in Louisville, KY should call Dave Halpern, Realtor, Louisville Short Sale Expert Realtors, (502) 664-7827.

I will provide detailed information about foreclosure options and short sales. We help dozens of sellers avoid foreclosure every single year in Louisville, Jefferson County, Oldham County, Bullitt County, Shelby County, Nelson County and Spencer County.

We can help. You have options. Call even if you think your house isn’t sellable. Many testimonials available.

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Thousands of Louisville Houses Go To Foreclosure – Unnecessarily

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Sadly, every year thousands of houses get scheduled for foreclosure auction in Louisville, KY. Behind every home is a borrower who now has to pick up the pieces and recover from a foreclosure.

However, most of these foreclosures could have been avoided. The various foreclosure avoidance techniques include:

  1. Loan modification and various repayment plans
  2. Short sales
  3. Deed-in-lieu of foreclosure

 

Here’s a brief overview of these methods:

Loan Modifications

Homeowners who want to keep their house and believe they can afford it should apply for a loan modification. There are many variations of a loan mod, including repayment plans, forebearance, and permanent or temporary interest rate reductions. These programs change often, and homeowners should check with their lender for current programs. Some people use the phrase loan remodification.

Deed-in-Lieu of Foreclosure

“Lieu” is a fancy latin word for “instead”. A deed-in-lieu of foreclosure means that instead of going through foreclosure, the owner can give the deed or give the house to the bank. This saves the bank the hassle of foreclosing, but it’s worse on the borrowers credit than a short sale. Sometimes owners call this giving the house back to the bank.

Short Sale

When the lender accepts an amount short of the full payoff, it’s called a short sale. When done correctly, the lender forgives the shortage. Always hire a professional Realtor who specializes in short sales to help you navigate the process. The right real estate agent will get it done and you will sell your house with dignity and not lose it or give it to the bank.

Dave Halpern helps dozens of homeowners avoid foreclosure every year, right here in Louisville.

For real testimonials from real people, click here. The sellers we have helped are so satisfied with the debt relief and the emotional relief we provided them they gladly permitted us to use their names and often publish their phone numbers so you can call to verify the success story.

You could be the next one on the way to recovery. Please call us at any time, seven days a week.

Dave Halpern

Broker

Louisville Short Sale Expert Realtors

(502) 664-7827

HAFA orientation video from NAR – National Association of Realtors

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If you are “upside down” on your mortgage in Louisville, KY you should seriously consider a short sale. In a short sale, your lender accepts an amount short of what you owe them. It is important that you select a Realtor who has successfully completed dozens of short sales. Your Realtor should also be current on the changing government and banking industry rules related to short sales.

Here’s a link to an overview VIDEO of the new HAFA short sales rules that went into effect on April 5, 2010: http://link.brightcove.com/services/player/bcpid1465406675?bctid=75779465001

There is still much confusion about the new HAFA rules. I will continue to present blog posts with quality information on the alternatives to foreclosure. Please subscribe to this blog to stay updated.

Thanks,

Dave Halpern, Broker

(502) 664-7827

Please check these testimonials from satisfied clients https://davehalpernlouisvilleshortsaleexpert.wordpress.com/category/david-halpern-testimonials/

http://www.LouisvilleShortSaleExpert.com

How to choose the right Short Sale Realtor http://shortsalesrealtorslouisvilleky.wordpress.com/2010/03/21/short-sales-in-louisville-–the-right-realtor-makes-all-the-difference/

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Short Sale – Can I Sell My House If It’s A Fixer Upper?

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Short Sale – Can I Sell My House If It’s A Fixer Upper?

Yes! It doesn’t matter how much you owe. It doesn’t matter what shape it’s in. You can have a leaky roof, old windows, shoddy electrical system and dogs could have chewed up all the door frames.

If the market values have plummeted and you owe more than the house is worth and you’re behind on payments, you should look into doing a short sale.

In a short sale the lender accepts an amount short of the payoff and lets the house sell for whatever the market will pay. If the house is a fixer upper it reduces the value of the house, but since the bank will let it go for the reduced price the house will still sell. In a short sale the lender lets the house sell based on the current value, not based on how much is owed.

If the house sells for less than owed, the difference is called a “shortage” or a “deficiency”. In most cases, but not all, the lender will forgive the deficiency. It is vital that the seller engage the services of a professional Realtor who has a proven track record of successfully negotiating and closing dozens of short sales. A competent and caring Realtor is more likely to obtain a full forgiveness of the deficiency.

David Halpern is a Real Estate Agent and Real Estate Broker in Louisville, Kentucky. The name of Dave’s Realty Company is Louisville Short Sale Expert which reflects his total dedication to helping homeowners avoid foreclosure by procuring a short sale.

Dave successfully closes dozens of short sales each year in Louisville, Kentucky. Dave has helped many homeowners avoid foreclosure and bankruptcy by skillfully procuring a short sale for them. The seller has zero out of pocket costs. The foreclosing lender pays all closing costs and commissions on behalf of the seller. Many Realtors in the Louisville area refer and outsource their short sales to Dave, due to his extremely high success rate.

Dave is accredited by the Commonwealth of Kentucky to teach other Realtors the complexities of short sales. Hundreds of Realtors have attended his courses.

More links and blogs from David Halpern:

http://www.LouisvilleShortSaleExpert.com

How To Choose The Right Short Sale Realtor

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David Halpern Certified Distressed Property Expert CDPE http://shortsalesrealestateagentslouisvilleky.com/

Dave can be reached at (502) 664-7827.

Written by davehalpern

April 12, 2010 at 10:16 pm

David Halpern Helps Homeowner Avoid Foreclosure!

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David Halpern negotiates a short sales to help this homeowner avoid foreclosure!

After being faced with losing our home and still owing more than our house was worth, Dave Halpern and his experienced staff gave us options we never knew existed.  “Your New Home Today” kept us from foreclosure and saved us from more than $30,000 in debt.

David Halpern has helped many homeowners avoid foreclosure. Dave can be contacted at (502) 664-7827 or through website www.LouisvilleShortSaleExpert.com. Please call any time – we love to help!

Homeowner Avoids Bankruptcy with Help from David Halpern

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Homeowner avoids bankruptcy by doing a short sale with David Halpern!

I didn’t know where to turn when my husband and I divorced.  I was left with the debt of the house because he filed bankruptcy.  I wanted to save my good credit if possible.  Dave and Hope helped me tremendously.  They were very patient and informative and very understanding.  They kept me posted on everything going on after an offer was made and accepted.  They were always available and answered all my questions.  Hope even helped me with my financials and writing letters to the mortgage companies.  She was great!  I am glad we went the Short Sale route.  I was a little apprehensive at first, but they truly pulled me out of this housing hole.  Kudos to both! Lifesavers!