A Common Fredericksburg Short Sale Myth: You Don’t Know If Your Lender Will Want A Deficiency Until We Have Started The Short Sale Process

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Fredericksburg VA – I am about to explain how the different types of loans impacts whether or not you will have a deficiency after you short sale your house.

But, I first want to bust the common myth that you won’t know if you will have a deficiency until after you have started the short sale process.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Many agents will tell you that you won’t know for sure if you will have a deficiency until you have started the short sale process. Sure, they can give you the answer if you are in a non deficiency state, such as California.

But, what if you are in Florida, which is a deficiency state? They will usually tell you that you won’t know if you will have a deficiency until the short sale process has been started.

That is not necessarily true. First, here is the good news. In about 80-90% of all cases, you will not have a deficiency on a short sale even if you live in a deficiency state.

But, if your loan is the type that do not require deficiencies, then you don’t have to worry about a deficiency. The key is to find out the type of loan you have and the short sale guidelines for that type of loan.

In my next post I will start to explain those different loan types and their short sale guidelines. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at EMDill@Gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (540) 841-1825

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Fredericksburg loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Ernie Dill.

Ernie is a Real Estate Agent at http://www.shortsaleagentadvocate.com/. Fredericksburg Short Sales Realtor:

Phone: (540) 841-1825. EMDill@Gmail.com.

Serving Northern VA, the Greater Fredericksburg Area, and Richmond

View My homes for sale at www.FBShortSales.com.

Ernie Dill specializes in loan modification assistance and short sales in Fredericksburg Virginia. Fredericksburg Loan Modification Help, Fredericksburg Short Sales. Fredericksburg Short Sale Realtor Fredericksburg VA Short Sales. Fredericksburg Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Ernie Dill, http://www.shortsaleagentadvocate.com/, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Ernie’s personal views and do not reflect the views of http://www.shortsaleagentadvocate.com/.

This information on A Common Fredericksburg Short Sale Myth: You Don’t Know If Your Lender Will Want A Deficiency Until We Have Started The Short Sale Process is provided as a courtesy to our viewers to help them make informed decisions.

Worried About Owing Money After A Fredericksburg Short Sale?

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Fredericksburg VA – We recently received an email from Joy. She was thinking about a short sale, but was worried about a deficiency.

Here is a sentence from her email: “We obviously want to get the price as close to fair market value as possible to eliminate or reduce any deficiency the bank may assess, but also want the house to move as quickly as possible.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is the good news for Joy. In about 80-90% of all cases the homeowner is allowed to walk away without a deficiency. Yes, banks are releasing homeowners from hundreds of thousands of dollars in upside debt.

We’ve seen homeowners walk away from $300,000, $500,000, and more in upside down debt. It’s like a “Get Out Of Jail Free” Card.

So, how do you find out if you will not owe a deficiency after a short sale? Here is the first step. Find out who owns your loan. Even if you send your monthly payment to ABC Bank it is likely that your loan is owned or insured by one of the one of the following entities.

Fannie Mae or Freddie Mac. There is about a 60% chance that your loan is owned by one of these two entities. If they own your loan, then mortgage forgiveness will be granted according to their policies.

FHA Insured. FHA does not own your loan. But, they insure the owner against loss which means that they will be writing the check for the loss. As a result, they dictate whether or not the debt is forgiven.

VA Insured. The Veteran’s Administration does not own your loan. But, they insure the owner against much of the loss. As a result, they dictate whether or not the debt is forgiven.

USDA Insured. USDA does not own your loan, but insures the owner against much of the loss. As a result, they dictate whether or not the debt is forgiven.

Sliced and Diced Loan. This is a mortgage that has been securitized. It is called “Sliced and Diced” because of the way the ownership of each loan is sliced up and sold off to thousands of different people.

The actual owners of the loan are the people that bought the securitized loan product.

Once you have found out who owns your loan, then you move to the next step. That is to find out the short sale deficiency guidelines of the individual owner or insurer of your mortgage. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at EMDill@Gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (540) 841-1825

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Fredericksburg loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Ernie Dill.

Ernie is a Real Estate Agent at http://www.shortsaleagentadvocate.com/. Fredericksburg Short Sales Realtor:

Phone: (540) 841-1825. EMDill@Gmail.com.

Serving Northern VA, the Greater Fredericksburg Area, and Richmond

View My homes for sale at www.FBShortSales.com.

Ernie Dill specializes in loan modification assistance and short sales in Fredericksburg Virginia. Fredericksburg Loan Modification Help, Fredericksburg Short Sales. Fredericksburg Short Sale Realtor Fredericksburg VA Short Sales. Fredericksburg Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Ernie Dill, http://www.shortsaleagentadvocate.com/, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Ernie’s personal views and do not reflect the views of http://www.shortsaleagentadvocate.com/.

This information on Worried About Owing Money After A Fredericksburg Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Another Example Of Just How Lousy A Fredericksburg Loan Modification Is For You

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Fredericksburg VA – Are you pulling your hair out trying to convince your lender to reduce the amount you owe on your home?

People have a hard time grasping how difficult it is to get a loan modification that is fair. These banks just do everything they can to squeeze homeowners for as much money as possible.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is an example of a homeowner that accepted a forbearance agreement with their lender. The homeowner was desperate to keep his home and just accepted the first offer his lender made.

Today, he is paying $4,400 monthly. The sad thing is that it would cost her about $2,500 a month to rent a comparable home.

He could save $1,900 monthly if he moved out and rented a similar home. But, even worse is how much money this will cost him over the long term.

I project that it will take 19 years for his house to appreciate back to what he originally paid for the house. He will overpay his lender by $433,200 over the next 19 years while him and his family wait for the housing market to recover.

It’s sad, but the only way that I have seen anyone receive a principal reduction is to short sell their house.

You can even buy another house right away if you qualify for the guidelines of certain short sale programs. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at EMDill@Gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (540) 841-1825

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Fredericksburg loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Ernie Dill.

Ernie is a Real Estate Agent at http://www.shortsaleagentadvocate.com/. Fredericksburg Short Sales Realtor:

Phone: (540) 841-1825. EMDill@Gmail.com.

Serving Northern VA, the Greater Fredericksburg Area, and Richmond

View My homes for sale at www.FBShortSales.com.

Ernie Dill specializes in loan modification assistance and short sales in Fredericksburg Virginia. Fredericksburg Loan Modification Help, Fredericksburg Short Sales. Fredericksburg Short Sale Realtor Fredericksburg VA Short Sales. Fredericksburg Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Ernie Dill, http://www.shortsaleagentadvocate.com/, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Ernie’s personal views and do not reflect the views of http://www.shortsaleagentadvocate.com/.

This information on Another Example Of Just How Lousy A Fredericksburg Loan Modification Is For You is provided as a courtesy to our viewers to help them make informed decisions.

Thinking About A Fredericksburg Loan Modification? Run The Numbers First

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Fredericksburg VA – When you negotiate your loan mod you need to remember that the banks are professional negotiators. They know the tricks.

They know how to suck as much money out of you as is legally possible. Don’t kid yourself. They’re going to use every single tool in their tool chest to squeeze you.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

So before you start negotiations with the bank, you’ve got to be prepared. You can’t just walk into a gunfight with a knife. You’ve got to go prepared so you get yourself the best deal.

Research your options. The lender’s negotiator can sense weakness. They can sense when you’ll take any payment amount they tell you. Guess what happens next?

You’re going to be stuck with a much higher monthly payment. Make sure that when you start negotiations, you know the alternatives. You can’t negotiate unless you come from a position of power.

You must be able to say, “I can afford to walk away from the negotiating table if you push me to hard. If the bank pushes me to a monthly payment that I can’t afford, then I will walk away and get a better deal for myself elsewhere.”

Find what houses similar to yours are renting for. It might make sense to rent and divorce the unrealistic lender and overpriced mortgage.

I’ve seen so many people stay in their house and accept a monthly payment much higher than what they could rent a similar home for each month.

The other thing is, they’re already strapped just trying to pay their mortgage month. It becomes a struggle to put food on the table. How did that happen?

Well, their lender was good at negotiating. Don’t let someone who’s good at negotiating push you around and take food off your table. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at EMDill@Gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (540) 841-1825

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Fredericksburg loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Ernie Dill.

Ernie is a Real Estate Agent at http://www.shortsaleagentadvocate.com/. Fredericksburg Short Sales Realtor:

Phone: (540) 841-1825. EMDill@Gmail.com.

Serving Northern VA, the Greater Fredericksburg Area, and Richmond

View My homes for sale at www.FBShortSales.com.

Ernie Dill specializes in loan modification assistance and short sales in Fredericksburg Virginia. Fredericksburg Loan Modification Help, Fredericksburg Short Sales. Fredericksburg Short Sale Realtor Fredericksburg VA Short Sales. Fredericksburg Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Ernie Dill, http://www.shortsaleagentadvocate.com/, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Ernie’s personal views and do not reflect the views of http://www.shortsaleagentadvocate.com/.

This information on Thinking About A Fredericksburg Loan Modification? Run The Numbers First is provided as a courtesy to our viewers to help them make informed decisions.

Why Fredericksburg Loan Modifications Are Bad: Family Rents Bigger House For $550 Less Than Old Home

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Fredericksburg VA – It’s sad that the banks aren’t willing to give anyone a principal reduction. The banks reasoning is that if they start granting principal reductions, then every single upside down homeowner will want one.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

As a result people are stuck overpaying for their upside down homes. Take an example of a family who bought their home at the peak of the market. Their monthly payment was $1,400.

Their lender agreed to forgive their missed back payments. But, they wouldn’t reduce their monthly payment. So, this family start looking at other options.

They had recently had their first kid and wanted to move out of their townhouse. They wanted a house with a yard. They found a bigger home with a large yard for their daughter.

The new home even had a 2 car garage that their townhouse didn’t They liked the new home. But, they liked the payment even better. The rent payment was $850 a month.

That’s a 39% reduction in their monthly payment. Even worse, it would have taken 25 years for their house to be worth what they had paid for it.

Let’s say that they had had accepted their lender’s offer and agreed to pay $1,400 a month. According to my calculations, they would have paid their lender $165,000 extra above what they pay for rent.

Ouch! That is a good example of why loan modifications don’t help anyone but the banks. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at EMDill@Gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (540) 841-1825

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Fredericksburg loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Ernie Dill.

Ernie is a Real Estate Agent at http://www.shortsaleagentadvocate.com/. Fredericksburg Short Sales Realtor:

Phone: (540) 841-1825. EMDill@Gmail.com.

Serving Northern VA, the Greater Fredericksburg Area, and Richmond

View My homes for sale at www.FBShortSales.com.

Ernie Dill specializes in loan modification assistance and short sales in Fredericksburg Virginia. Fredericksburg Loan Modification Help, Fredericksburg Short Sales. Fredericksburg Short Sale Realtor Fredericksburg VA Short Sales. Fredericksburg Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Ernie Dill, http://www.shortsaleagentadvocate.com/, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Ernie’s personal views and do not reflect the views of http://www.shortsaleagentadvocate.com/.

This information on Why Fredericksburg Loan Modifications Are Bad: Family Rents Bigger House For $550 Less Than Old Home is provided as a courtesy to our viewers to help them make informed decisions.

Fredericksburg Short Sales: What To Do When A Short Sale Negotiator Gets An Attitude

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Fredericksburg VA – Most short sale negotiators are professional. They understand the seriousness of their jobs. They work hard to educate themselves on the industry and market trends.

They are friendly and fun to work with. This is one of the things I like about selling short sales for a living. The downside is that every once in a while a negotiator will get an attitude.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

For whatever reason they have decided to go on a power trip. They start asking for unnecessary paperwork. Or, they nitpick the paperwork you send to them.

Most agents just kowtow to the negotiator. They think that the negotiator has all of the power. I have found that isn’t true. The negotiator has very limited power.

After all, they don’t own the bank. They aren’t the one who will be losing money on the loan. The fact is most banks lose a substantial amount of money when they turn down a short sale.

As an example, a bank turned down a $190,000 offer on a short sale. The property sold about 18 months later. But, this time it didn’t sell for $190,000. It sold for $165,000.

Not only did that bank lose $25,000 on the sales price. They also paid the property taxes and insurance for that amount of time. In addition, they were unable to lend that money and earn interest.

I estimate they lost an additional $15,000 when you factor in the interest. That’s a $40,000 loss. When a short sale negotiator gets an attitude I simply remind them of this.

And I tell them I will be holding them accountable if they turn down the short sale and the bank loses more money as a result. Needless to say, they lose the attitude. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at EMDill@Gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (540) 841-1825

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Fredericksburg loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Ernie Dill.

Ernie is a Real Estate Agent at http://www.shortsaleagentadvocate.com/. Fredericksburg Short Sales Realtor:

Phone: (540) 841-1825. EMDill@Gmail.com.

Serving Northern VA, the Greater Fredericksburg Area, and Richmond

View My homes for sale at www.FBShortSales.com.

Ernie Dill specializes in loan modification assistance and short sales in Fredericksburg Virginia. Fredericksburg Loan Modification Help, Fredericksburg Short Sales. Fredericksburg Short Sale Realtor Fredericksburg VA Short Sales. Fredericksburg Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Ernie Dill, http://www.shortsaleagentadvocate.com/, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Ernie’s personal views and do not reflect the views of http://www.shortsaleagentadvocate.com/.

This information on Fredericksburg Short Sales: What To Do When A Short Sale Negotiator Gets An Attitude is provided as a courtesy to our viewers to help them make informed decisions.

With Home Prices Dropping, In Many Parts of Fredericksburg It Is Cheaper to Own Than Rent

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Fredericksburg VA – The good news about the housing bust is that home prices are now more affordable. It is now cheaper to buy versus renting in many areas.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

“At the peak of the real estate bubble, cities like Miami, Phoenix and Las Vegas were not affordable for many. Now the opposite is true,” said Pete Flint, co-founder and CEO of Trulia.com.

“Home sellers in these hard hit areas are forced to lower their prices to compete with all the foreclosures on the market. As a result , these unattainable markets are so affordable it makes better financial sense to buy than rent.”

Here is how to calculate whether it will be cheaper for you to buy versus rent.

First, add up what you are paying for rent now. Add together your rent payment and what you pay for renter’s insurance. That is the monthly cost of renting.

Now, let’s add up the cost of home ownership. First, you have the monthly mortgage payment. Add in Home Insurance, Property Taxes, and any Homeowner’s Association Fees.

Now, subtract out the tax savings. To calculate that, take what you will be paying monthly for interest and property taxes. Multiply that by your combined state and federal tax rate.

That is your projected tax savings. Now you have the cost of homeownership and renting side by side to compare. This is good news if you are a home owner. Why? It means that we are closer to a real estate recovery.

Are you or someone you know looking to purchase a home? I will work to help you get the best deal. Send me an e-mail for a list of the 10 best deals in today’s market.

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at EMDill@Gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (540) 841-1825

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Fredericksburg loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Ernie Dill.

Ernie is a Real Estate Agent at http://www.shortsaleagentadvocate.com/. Fredericksburg Short Sales Realtor:

Phone: (540) 841-1825. EMDill@Gmail.com.

Serving Northern VA, the Greater Fredericksburg Area, and Richmond

View My homes for sale at www.FBShortSales.com.

Ernie Dill specializes in loan modification assistance and short sales in Fredericksburg Virginia. Fredericksburg Loan Modification Help, Fredericksburg Short Sales. Fredericksburg Short Sale Realtor Fredericksburg VA Short Sales. Fredericksburg Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Ernie Dill, http://www.shortsaleagentadvocate.com/, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Ernie’s personal views and do not reflect the views of http://www.shortsaleagentadvocate.com/.

This information on With Home Prices Dropping, In Many Parts of Fredericksburg It Is Cheaper to Own Than Rent is provided as a courtesy to our viewers to help them make informed decisions.

Fredericksburg Short Sale Question: Should I Short Sale My Home?

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Fredericksburg VA – The Stop Foreclosure Institute recently received a question from Sergio. Here was his question.

“I have owned my house since 2006. My employer reduced my salary by 30% and now I have to move out of state where I have found a new job.

The house is a problem. Since 2006 my house price has dropped by about $40,000. That means I have a $40,000 deficiency, which I don’t want to pay.

I have option to rent the house, but I am still considering a short sale. Any advice? Sergio.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to Sergio’s Question: Sergio, I would attempt a short sale. Depending on your situation and the type of loan you have, more than likely you will not have a deficiency.

I can give you a better answer after I get more information from you. I wouldn’t recommend renting the house. How hard is it going to be to manage when you are out of state?

What if the tenants stop paying? What if a pipe breaks and floods the house? I’m not saying don’t rent the house. I just know from past experience that managing rental property from a distance is super tough.

I knew a real estate investor who targeted what he called “tired, out of town landlords.” He would offer to buy their property below market.

Surprisingly, many of them accepted his lowball offers because they were so tired of dealing with the property. Here is the other downside on renting.

You will probably have negative cash flow every month. I don’t know what your house will rent for. But, if you are upside down on your house value, then you are likely also upside down on the rental value.

That means you will almost certainly lose money on the rent every month. With your precarious financial situation, recent 30% salary cut, and move out of state, the last thing you need is another bill each month.

With a short sale you can walk away owing nothing, with no tax liability, and be eligible to buy another house in 3 years.

That sounds a lot better to me than being stuck with a money losing house 2 years from now. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at EMDill@Gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (540) 841-1825

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Fredericksburg loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Ernie Dill.

Ernie is a Real Estate Agent at http://www.shortsaleagentadvocate.com/. Fredericksburg Short Sales Realtor:

Phone: (540) 841-1825. EMDill@Gmail.com.

Serving Northern VA, the Greater Fredericksburg Area, and Richmond

View My homes for sale at www.FBShortSales.com.

Ernie Dill specializes in loan modification assistance and short sales in Fredericksburg Virginia. Fredericksburg Loan Modification Help, Fredericksburg Short Sales. Fredericksburg Short Sale Realtor Fredericksburg VA Short Sales. Fredericksburg Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Ernie Dill, http://www.shortsaleagentadvocate.com/, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Ernie’s personal views and do not reflect the views of http://www.shortsaleagentadvocate.com/.

This information on Fredericksburg Short Sale Question: Should I Short Sale My Home? is provided as a courtesy to our viewers to help them make informed decisions.

A Few More Tips On Buying Fredericksburg Rental Property

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Fredericksburg VA – The return on investment is very good because of a tight rental market caused by the housing crisis. Rents have increased while home prices have dropped.

Single Family Homes are the best way to go because they are easy to rent and you can prescreen for the absolute best tenants. Good tenants are the key to avoiding problems.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Have you ever noticed how apartment complexes have to work hard to rent their apartments? Meanwhile, most single family homes are rented without much effort.

Homes tend to attract more stable tenants that are older and have more stable, established jobs.

How to avoid problems with a rental property. Before agreeing to rent to a prospective tenant, ask to look at their financials.

Banks ask for copies of tax returns, bank statements, and pay stubs before approving a loan. I don’t think a tax return is necessary.

But, you can get a much better idea of whether or not someone can pay you when you have copies of bank statements and/or pay stubs.

It will be very hard to get this from someone renting an apartment. But, there are much less homes for rent and more people looking to rent a home.

That extra demand will allow you to request that information. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at EMDill@Gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (540) 841-1825

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Fredericksburg loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Ernie Dill.

Ernie is a Real Estate Agent at http://www.shortsaleagentadvocate.com/. Fredericksburg Short Sales Realtor:

Phone: (540) 841-1825. EMDill@Gmail.com.

Serving Northern VA, the Greater Fredericksburg Area, and Richmond

View My homes for sale at www.FBShortSales.com.

Ernie Dill specializes in loan modification assistance and short sales in Fredericksburg Virginia. Fredericksburg Loan Modification Help, Fredericksburg Short Sales. Fredericksburg Short Sale Realtor Fredericksburg VA Short Sales. Fredericksburg Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Ernie Dill, http://www.shortsaleagentadvocate.com/, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Ernie’s personal views and do not reflect the views of http://www.shortsaleagentadvocate.com/.

This information on A Few More Tips On Buying Fredericksburg Rental Property is provided as a courtesy to our viewers to help them make informed decisions.

Getting Your Finances Back On Track After A Fredericksburg Short Sale. Pros & Cons Of Buying Rental Property

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Fredericksburg VA – The Pros of Rental Property.

The tenant pays your mortgage payment. You won’t make a lot
of money while you have a mortgage. But, where else can you have someone buy and pay off something for you?

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

You start to make real money after the mortgage is paid off. In addition, some properties are so cheap that the rent will pay offa 15 year mortgage. So in 15 years you have a free house.

Rentals are a great hedge against inflation. Notice how gas prices are going up again? The prices of everything else increase with gas prices. Food, clothes, electricity, and everything else goes up.

That means your house will go up in value over the long term. But, you locked in the price when you bought it when prices were lower.

I don’t want to make it seem like rental properties are a no brainer. There are some risks involved. No one should buy a rental property unless they are prepared and understand the risks.

The Cons of Rental Property

Problem #1: Leaky toilets. This is the first thing you should be aware of. We have seen that most problems are not emergency problems.

Many landlords work around these problems by hiring good help in the beginning. They find a good handy man and negotiate on the price before he does any work.

Problem #2: Management. You can find a good property management company to handle everything for you. But, you still have to manage the management company.

If you do not have extra time to manage problems, then rental property is probably not for you. Some people like this buy larger properties and hire better managers.

They meet with their manager once a month and let them handle everything. This works for them because they bought a larger property with better numbers. That extra money can be used to pay a better, more competent manager.

Problem #3: Collecting Rent. This is where many people mess up. You have to be persistent and firm. If you are a sympathetic person, and prone to give people a “break, then rental property is not for you.

Problem #4: Evictions. This is the bad side of the rental business. Most evictions occur because you didn’t pre-screen a tenant well enough.

You must budget enough so that you can afford an eviction when it happens. An eviction will cost you 2-3 months of rent. That is why you must have a rainy day fund for situations like this. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at EMDill@Gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (540) 841-1825

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Fredericksburg loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Ernie Dill.

Ernie is a Real Estate Agent at http://www.shortsaleagentadvocate.com/. Fredericksburg Short Sales Realtor:

Phone: (540) 841-1825. EMDill@Gmail.com.

Serving Northern VA, the Greater Fredericksburg Area, and Richmond

View My homes for sale at www.FBShortSales.com.

Ernie Dill specializes in loan modification assistance and short sales in Fredericksburg Virginia. Fredericksburg Loan Modification Help, Fredericksburg Short Sales. Fredericksburg Short Sale Realtor Fredericksburg VA Short Sales. Fredericksburg Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Ernie Dill, http://www.shortsaleagentadvocate.com/, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Ernie’s personal views and do not reflect the views of http://www.shortsaleagentadvocate.com/.

This information on Getting Your Finances Back On Track After A Fredericksburg Short Sale. Pros & Cons Of Buying Rental Property is provided as a courtesy to our viewers to help them make informed decisions.