ARCHIVED BLOG POSTS
2009
My client received an offer to purchase their home recently. It was contingent upon the sale of an existing home. These particular clients are quite flexible and open to considering such a situation. I looked up the offerer's active listing on the MLS and the home looked very well kept and showed...
05/23/2009
This is a training class for a small group at Keller Williams Realty in Greenville, SC. We are covering many different topics related to blogging for beginners as well as various ways to leverage today's wonderful technologies to grow our businesses. We are all enjoying our brand new office here ...
05/20/2009
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The following is an excerpt from Realtor magazine sent to me today via email: Daily Real Estate News | May 12, 2009 | Tax Credit Can Be Used for Down Payment Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administrat...
05/12/2009
FORECLOSURE VS. SHORT SALE Homeowner Consequences Issue/Topic:Deficiency JudgmentForeclosure:Deficiency Judgement: In 100% of foreclosures (except in those states where there is no deficiency) the bank has the right to pursue a deficiency judgment. Deficiency Judgment Amount: In a foreclosure t...
05/12/2009
Foreclosure VS. Short Sale - Homeowner Consequences - Future Employment - Greenville, SC Real Estate
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FORECLOSURE VS. SHORT SALE Homeowner Consequences Issue/Topic:Future EmploymentForeclosure:Many employers are requiring credit checks on all job applicants. A foreclosure is one of the most detrimental credit items an applicant can have and in most cases will challenge employment.Successful Sho...
05/12/2009
FORECLOSURE VS. SHORT SALE Homeowner Consequences Issue/Topic:Current EmploymentForeclosure:Employers have the right to check and are actively checking regularly the credit of employees who are in sensitive positions. A foreclosure in many cases is grounds for immediate reassignment or terminat...
05/12/2009
FORECLOSURE VS. SHORT SALE Homeowner Consequences Issue/Topic:Security ClearancesForeclosure:Foreclosure is the most challenging issue against a security clearance outside of a conviction of a serious misdemeanor or felony. If a client has a foreclosure and is a police officer, in the military,...
05/12/2009
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FORECLOSURE VS. SHORT SALE Homeowner Consequences Issue/Topic:Credit HistoryForeclosure:Foreclosure will remain as a public record on a person's credit history for 10 years or more.Successful Short Sale:Short sale is not reported on a credit history. There is no specific reporting item for "sho...
05/12/2009
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FORECLOSURE VS. SHORT SALE Homeowner Consequences Issue/Topic:Credit ScoreForeclosure:Score may be lowered anywhere from 250 to over 300 points. Typically will affect score for over 3 years.Successful Short Sale:Only late payments on mortgage will show and after sale mortgage will be reported a...
05/12/2009
Foreclosure VS. Short SaleHomeowner Consequences Issue/Topic:Future Loan with any Mortgage CompanyForeclosure:On any future 1003 application, a prospective borrower will have to answer YES to question C in Section VIII of the standard 1003 that asks "Have you had property foreclosed upon or given...
05/12/2009