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

Posts Tagged ‘mortgage payments

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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A Short Sale Can Provide The Peace of Mind You Deserve

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Welcome Neighbor,

Come on in, I’m glad you’re here.

Reading this is an important step towards putting your overwhelming mortgage debt and mortgage payments behind you.

You’re in a situation you never dreamed of;

  • You owe more than the house is worth
  • Struggling with mortgage payments
  • Facing foreclosure
  • Don’t know what to ask, who to ask, who to believe.
  • You are under stress you do not deserve, and wondering what is the best way out.

Everyone you ask has a different answer; Friends, family, lawyers, Realtors, the internet. Your lender is calling you, sending you letters.

Here’s my promise to you:

  • I will answer all your questions. I will support all my answers with years of experience, extensive training and with much written documentation.
  • I will show you many heartfelt testimonials, from real people, right here in the Louisville area.
  • I will not rush you through anything. I will earn your confidence.

If I have the privilege of helping you through your mortgage problem, you will experience that we are:

  • Friendly
  • Trustworthy
  • Compassionate
  • Knowledgeable

I have helped many homeowners sell their house with dignity rather than lose it to foreclosure. I have negotiated with banks to forgive, in writing, large amounts of debt. You want to move on. Let us help.

You deserve peace of mind, stability and balance back in your life. This is real, please call me personally to my cell phone (502) 664-7827 any day of the week from 8 AM until 9 PM.

Dave Halpern

Broker

Louisville Short Sale Expert Realtors

The Importance of Using a Short Sale Expert

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 The Importance of Using a Short Sale Expert

By David Halpern, Louisville Short Sale Expert, (502) 664-7827 and (502) 895-3100

In my city alone there are hundreds, maybe thousands, of homeowners who unnecessarily lose their homes to foreclosure each year who could have avoided it if their Realtor would have successfully procured a short sale.

Even a highly trained short sale expert cannot stop a bank from defeating itself and not every short sale will get to closing. But it is the Realtor’s responsibility to diligently and methodically go through the dozens of extra steps that don’t exist in a traditional listing.

With the introduction of HAFA short sales the homeowner has the opportunity of receiving great incentives for successfully completing a short sale, namely mandatory debt forgiveness and a $3,000 cash payment from the lender. Realtors who fail to procure the short sale can cause their clients to lose these monetary incentives.

Realtors who are not thoroughly trained and don’t have the time, staff or resources to handle short sales should simply not take on this complex negotiation. The clients come first and it is imperative that they get the best chance of avoiding foreclosure.

If a traditional sale doesn’t sell in a timely manner the seller will endure some sort of inconvenience. However, if a client is facing foreclosure and the short sale doesn’t happen on time or doesn’t take place at all, the seller can suffer irreversible monetary and emotional damage.

Often Realtors feel obligated to take a short sale listing because of their friendship or prior relationship with the seller. Other professionals such as doctors and lawyers refer clients to specialists. Contractors bring in specialized subcontractors. Likewise, Realtors should refer their short sales to Realtors who are experts in this highly specialized field. This way their clients receive the best care and the referring Realtor still gets some compensation. The referring Realtor is still the hero because he or she was resourceful enough to bring in the expert.

Dave Halpern, Broker

(502) 664-7827

Dave Halpern 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.

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

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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http://shortsalesrealtorslouisvilleky.wordpress.com/2010/04/04/short-sales-–-can-i-sell-even-if-i-owe-back-property-taxes/

Divorce, Foreclosures and Short Sales in Louisville, KY – Mistakes to Avoid

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Some divorce decrees or mediation agreements contain orders about the house that are impossible to fulfill. These orders sometimes further escalates the problem causing further stress, monetary damage and damage to the parties’ credit. Some court orders are doomed to fail, causing a spouse to be in non-compliance with a judge’s order.

My name is Dave Halpern, a Realtor and Broker in Louisville, KY. I specialize in preforeclosure short sales and close dozens of short sales each year. I have helped many sellers in a divorce situation and have encountered problem situations that could have been avoided.

Divorce attorneys, mediators and judges often make well intentioned yet fundamentally wrong decisions regarding disposition of the house. 

The two most problematic orders that I have seen are:

  1. Spouse 1 must refinance to take spouse 2 off the loan.
  2. Spouse 1 must sell the house by certain date.

The problems with refinancing:

  1. The spouse’s credit may not qualify them to refinance
  2. The house may not appraise high enough
  3. The interest rate may make the loan unaffordable

The problems with selling the house:

  1. In many cases there is too much owed on the house
  2. House values significantly declined, making many houses unsellable
  3. The court appoints a Realtor who may not be an expert in liquidating “upside houses”.

A divorced seller recently contacted me in a state of panic that she is about to be thrown in jail for contempt of court because she couldn’t sell her house. A quick analysis confirmed that she owes too much on her house and the only way to sell it is through a short sale. She took my analysis and explanatory material to court to stay out of jail.

A short sale occurs when the lender is willing to accept an amount short of the payoff. If done properly and professionally  the lender forgives the shortage. This however could trigger a tax bill which sends the divorcing parties back to court to get the responsible spouse to pay the other spouse’s tax bill.

If the lender requires to keep the borrowers obligated on some or all of the shortage, the parties find themselves back in court fighting over who is responsible for the shortage.

Since a short sale hurts the borrower’s credit, how does one spouse hold the other responsible for the intangible financial damage due to a lower credit score?

All these issues and more need to be accounted for in the original court order. Divorce attorneys need to protect their clients by understanding the real estate market as it pertains to foreclosure, preforeclosure and short sales. Divorce attorneys should seek training on short sales and consult with Realtors who specialize in short sales. Agreeing to impossible terms that cannot be implemented can land their client in significant financial and legal hot water.

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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http://activerain.com/davehalpern

http://www.trulia.com/blog/dave_halpern

Check out my articles! http://ezinearticles.com/?expert=Dave_Halpern

Blogspot http://louisvilleshortssalesexpertdavehalper.blogspot.com/

http://www.squidoo.com/DavidHalpernLouisvilleKYShortSalesExpert

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