There's No Place Like Your Place Blog

HOMEOWNERS, Don't be taken advantage of!

We hear so much about mortgage modifications for homeowners who are having trouble keeping up with their mortgage payments.  There are many scams out there and you really have to be careful!   There are companies out there who will take your money, even if you are not qualified for a loan modification, and will tell you that they will apply for it for you.  That's just what you need now, right, to be taken advantage of?

Please beware of companies out there now that are soliciting homeowners for mortgage modifications and asking for a large fee upfront.  You do not have to pay someone to get a mortgage modification. The best thing to do is to contact your lender.  They will need to know your current financial information, your current income, and your hardship.  In other words, they need to know WHY you can not keep up with your mortgage now.

To find out if you are eligible for a refinance, loan modification and information on loan modification SCAMS to watch out for, visit:

Making Home Afordable or call 888-999-HOPE, if it is urgent that you speak with someone right away.  No matter what you find out here, it is also a very good idea to still contact your mortgage company directly and see if they will work something out for you.

Some of the loan modifications are being approved, but it is not easy to get done.  You must find out what information your mortgage company needs from you, get it them ASAP, AND diligently follow up with them.  This little video from CDPE, Certified Distressed Property Experts of which I am proudly a member, shows you where you can get some help and to see if you qualify for a mortgage modification. Another important thing to know is that you have to be able to show that you can afford the new mortgage. A modification would be very tough to get if you do not currently have income or resources to pay the new amount.

If you are unsuccessful in obtaining a loan modification, don't let your home go into foreclosure.  Call me and let's explore the option of a short sale as an alternative to foreclosure.  Of course I will not charge you for the consultation, I am here to help.

My Direct Number at the Office is 847.516.6760

If I can be of assistance to you, please do not hesitate to call or email me.  It will be my pleasure!  By the way, if you know of someone that could benefit from my high level of service, please call or email me with their name and daytime phone number and I will make sure to follow up and take great care of them.  My business keeps growing from your referrals.

There are fabulous buys on the market....now is a GREAT time to buy real estate in IL, especially for MOVE UP Buyers, Waterfront Buyers, Vacation and Second Home Buyers, Investors and First Time Buyers!

To Search Homes For Sale, Please Contact Me Directly Or Feel Free To Search On My Website!

Another FANTASTIC Incentive For Home Buyers From Freddie Mac! 

Down Payment Assistance and Warranty from Freddie Mac!
Freddie Mac's new "Smart Buy" Program can offer a 2 year home warranty on Freddie Mac foreclosures, appliance discounts and help with the home buyer's closing costs as well, up to 3.5%!  These foreclosures are listed with Realtors, so work through your Realtor (Or me if you do not have a Buyer's Agent yet:-) on this program.

There are deadlines for this program...you have to have your offer accepted by 10/30/09 and close by 12/31/09.

To qualify and get all of the information on this GREAT program see this article and then see me!
http://www.homesteps.com/smart_buy.htm

This can also be used in conjunction with the 8000. First Time Home Buyers Tax Credit.

My Direct Number at the Office is 847.516.6760

If I can be of assistance to you, please do not hesitate to call or email me.  It will be my pleasure!  By the way, if you know of someone that could benefit from my high level of service, please call or email me with their name and daytime phone number and I will make sure to follow up and take great care of them.  My business keeps growing from your referrals.

There are fabulous buys on the market....now is a GREAT time to buy real estate in IL, especially for MOVE UP Buyers, Waterfront Buyers, Vacation and Second Home Buyers, Investors and First Time Buyers!

To Search Homes For Sale, Please Contact Me Directly Or Feel Free To Search On My Website!

How can a CDPE ( Certified Distressed Property Expert ) help you when you are facing foreclosure? 

In addition to helping people with selling resale properties, I also work with homeowners who are in distress or owe more on thier homes than what they are worth.  As a CDPE, I am a member of an organization of over 8000. professionals that work with homeowners in distress, as Realtors. 

This little video explains how CDPE's are trained to help.  If you are facing foreclosure or know someone who may be, please give me a call (I am a CDPE), I'd like to try to help more people to avoid foreclosure. 

My Direct Number at the Office is 847.516.6760

If I can be of assistance to you, please do not hesitate to call or email me.  It will be my pleasure!  By the way, if you know of someone that could benefit from my high level of service, please call or email me with their name and daytime phone number and I will make sure to follow up and take great care of them.  My business keeps growing from your referrals.

There are fabulous buys on the market....now is a GREAT time to buy real estate in IL, especially for MOVE UP Buyers, Waterfront Buyers, Vacation and Second Home Buyers, Investors and First Time Buyers!

To Search Homes For Sale, Please Contact Me Directly Or Feel Free To Search On My Website!

 Do you qualify for a short sale?

I have spoken with many homeowners lately, who are either facing foreclosure now or think they may be soon. Many have wondered if they would qualify to do a short sale and if I can try to help them do one to avoid foreclosure. I can definitely try to help a homeowner that qualifies and this video explains it really well. I am trained as a Certified Distressed Property Expert, CDPE, and if I can help you or someone you know, or if you'd just like to discuss your situation with me, please give me a call and it will be my pleasure to assist you and do all I can to help you to try to help you avoid foreclosure.

Remember, in addition to a Realtor that is trained in doing short sales, you also need to consult with tax professional and an attorney.

My Direct Number at the Office is 847.516.6760

If I can be of assistance to you, please do not hesitate to call or email me.  It will be my pleasure!  By the way, if you know of someone that could benefit from my high level of service, please call or email me with their name and daytime phone number and I will make sure to follow up and take great care of them.  My business keeps growing from your referrals.

There are fabulous buys on the market....now is a GREAT time to buy real estate in IL, especially for MOVE UP Buyers, Waterfront Buyers, Vacation and Second Home Buyers, Investors and First Time Buyers!

To Search Homes For Sale, Please Contact Me Directly Or Feel Free To Search On My Website!

So many buyers think the best deals out there are foreclosures and short sales, but they can actually cost MORE!

Here are just some of the additional costs you may incur with a bank/distressed sale:

Survey: Approximately 150.-300. (usually a seller cost)

No Tax pro-ration: (usually 105% of the last tax bill in this area, banks only will usually do 100%)

Usually no negotiation on repairs, so if you do your inspection and it is not satisfactory, you talk with your attorney regarding canceling the contract if it is within the contingency dates, but no one will give you back the 300. or so you may have spend on a home inspection.

Not closing on time can also cost you a Per Diem, as banks usually have this in their contract addendums. This is more of a risk now with underwriting and appraisals taking longer and daily changes in the banking industry.

Appliances: Banks usually say there is “no bill of sale on personal property”, so what you see when you write an offer may not be what you see before closing.

No disclosures: Since they have never lived in or in most cases, have never even seen the property, they are exempt from having to do the usual disclosures.

Deferred maintenance: When someone can no longer pay their mortgage, many times they also have not been able to properly keep up with maintaining their home.

Timing: Many times there is a very long wait to get a response on an offer, and it is usually worse with short sales than REO’s, which are properties that have already been foreclosed on. You could be risking closing on time to be able to take advantage of the first time home buyers credit, which expires 12/1/09.

These are just some things to keep in mind when considering your options. Foreclosures and distressed sales can be great opportunities for the right buyer who is not trying to closely watch their costs, who has a lot of time and patience, and the ability not to get too attached to or emotional about the property.  Don't get me wrong, there are a lot of great deals out there to be had right now, but don't make the mistake of thinking that the only good deals are distressed sales. Sometimes, a truly motivated seller with equity in their home can also offer a wonderful buy with less cost, less waiting and less hassles!

It is a GREAT TIME TO BUY REAL ESTATE in McHenry County, Cook County and Lake Counties in Northern Illinois.  There are fabulous homes for sale at great prices!

***especially for first time buyers, investors and move up buyers.***  Rates are great, too!

We are having a "HUGE sale" on our large inventory of VERY well priced HOMES!

To Search Homes For Sale, Please Contact Me Directly Or Feel Free To Search On My Website!

My Direct Number at the Office is 847.516.6760

If I can be of assistance to you, please do not hesitate to call or email me.  It will be my pleasure!  By the way, if you know of someone that could benefit from my high level of service, please call or email me with their name and daytime phone number and I will make sure to follow up and take great care of them.  My business keeps growing from your referrals.

There are fabulous buys on the market....now is a GREAT time to buy real estate in IL, especially for MOVE UP Buyers, Waterfront Buyers, Vacation and Second Home Buyers, Investors and First Time Buyers!