Category Archives: Uncategorized

Twenty Ways Your Short Sale Can Be Delayed

          Short sales are often referred to as long sales.  Many sellers, buyers, and real estate agents find that short sales may take much longer than initially expected. So what causes delays (or perceived delays) in … Continue reading

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Another Significa Success Story…

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How do I know if the lender is forgiving the remaining debt?

              Each lender has a different type of short sale approval letter. Some are one page long, and others may be 10 pages long. Below are phrases that indicate the remaining debt is being … Continue reading

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What rights do tenants have in a foreclosed home?

        The Protecting Tenants at Foreclosure Act of 2009 provides additional protections for certain tenants in a foreclosed residential property.  The Act is effective from May 20, 2009 until December 31, 2014. Tenants with a bona fide … Continue reading

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Will the bank forgive my debt on a commercial property or vacation home?

Everything in real estate is negotiable, although some things are far more negotiable than others.  Many lenders are willing to forgive the remaining debt on short sales involving commercial properties, vacation homes, and multi-unit buildings.  The decision whether to forgive … Continue reading

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It’s the end of dual-tracking as we know it, and I feel fine.

            The Consumer Financial Protection Bureau (CFPB) introduced new rules that became effective in January 2014.  Dual-tracking is a situation where a mortgage lender continues a foreclosure action against a delinquent borrower while simultaneously working … Continue reading

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The bank won’t stop calling me. Should I talk with them?

        We believe you should communicate with your bank on a periodic basis.  If you are behind on your mortgage payment, expect up to four phone calls a day.  You will also receive a lot of mail.  … Continue reading

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The National Association of REALTORS® continues to lobby for an extension of the Mortgage Forgiveness Debt Relief Act.

            The 2014 President of the National Association of REALTORS®, Steve Brown, reported via his video, the number of people using the debt forgiveness exemption has increased every year.  He lobbies for Congress to extend the … Continue reading

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What’s the deal with property tax sales in Pennsylvania?

If property taxes are not paid, the property could be sold at a tax sale.  The Pennsylvania Real Estate Tax Sale Act (RETSA) holds that all lawfully levied taxes on property constitute a first lien on the property.  Delinquent taxes … Continue reading

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What are the risks in buying a short sale?

                Many short sales involve sellers who are financially struggling.  That typically means the seller cut back on maintenance in recent months or years, so the property likely requires some work.  For example, … Continue reading

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