Guide To Henderson

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My Recommended Boooks

  • Napoleon Hill: Think and Grow Rich!: The Original Version, Restored and Revised

    Napoleon Hill: Think and Grow Rich!: The Original Version, Restored and Revised

  • Anthony Robbins: Awaken the Giant Within : How to Take Immediate Control of Your Mental, Emotional, Physical and Financial Destiny!

    Anthony Robbins: Awaken the Giant Within : How to Take Immediate Control of Your Mental, Emotional, Physical and Financial Destiny!

  • Anthony Robbins: Unlimited Power : The New Science Of Personal Achievement

    Anthony Robbins: Unlimited Power : The New Science Of Personal Achievement

  • Rick Villani: FLIP: How to Find, Fix, and Sell Houses for Profit

    Rick Villani: FLIP: How to Find, Fix, and Sell Houses for Profit

  • Gary Keller: The Millionaire Real Estate Investor

    Gary Keller: The Millionaire Real Estate Investor

  • Gary  Keller: The Millionaire Real Estate Agent: It's Not About the Money...It's About Being the Best You Can Be!

    Gary Keller: The Millionaire Real Estate Agent: It's Not About the Money...It's About Being the Best You Can Be!

  • Robert B. Cialdini: Influence: Science and Practice (4th Edition)

    Robert B. Cialdini: Influence: Science and Practice (4th Edition)

  • Leo J. Pusateri: Mirror Mirror on the Wall am I the Most Valued of Them All? - The Ultimate Element of Differentiation is You

    Leo J. Pusateri: Mirror Mirror on the Wall am I the Most Valued of Them All? - The Ultimate Element of Differentiation is You

  • William Ury: Getting Past No

    William Ury: Getting Past No

  • Roger Fisher: Beyond Reason: Using Emotions as You Negotiate

    Roger Fisher: Beyond Reason: Using Emotions as You Negotiate

Can I Do a Short Sale?

Can I Do a Short Sale?

In the course of doing business with buyers and sellers I have discovered a disturbing trend. There are sellers that have their homes for sale that are current in their payments but having difficulty selling in this current market enviroment. They have been reading about short sales and assume that if worse comes to worse they will change their listing to a short sale without any obligation to their lender. Worse still are real estate agents that do not have any knowlege of short sales and are giving erroneous and dangerous advice to their listing clients that there is not a consequence and absolved of debt by listing short sale status.

These are very dangerous waters that agents and sellers are treading in. If you as a real estate agent do not educate yourselves and educate your sellers then you are opening yourselves up to litigation for not disclosing facts about short sale qualifications. To convince a lender to accept a short sale the borrower is going to have to show true hardship usually in the form of a letter to show the lender he/she cannot pay the loan. Some examples are divorce, military deployment,death of spouse, loss of a job, bad health.They will also have to supply the following in addition to their hardship letter.

1. Copies of the past 2 paystubs

2. Copies of the past 2 years of federal income tax/W2's

3. Copies of the past 3 months bank statements for all checking and saving accounts for all borrowers

4. Copy of First and Second Mortagage monthly statements

There is much more but you get the idea. Please be careful and get educated.

Posted at 06:22 AM in Helpful Tips for Sellers | Permalink | Comments (0) | TrackBack (0)

Ten Tips To Avoid Foreclosure

"These guidelines will assist homeowners who are struggling to pay their mortgage and could be threatened with foreclosure," said HUD Secretary Alphonso Jackson. "We want to encourage homeowners to take action and use every resource available so that they can get control of their finances and stay in their home."

If you are unable to make your mortgage payment:

1. Don't ignore the problem.

The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.

2. Contact your lender as soon as you realize that you have a problem.

Lenders do not want your house. They have options to help borrowers through difficult financial times.

3. Open and respond to all mail from your lender.

The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.

4. Know your mortgage rights.

Find your loan documents and read them so you know what your lender may do if you can't make your payments. Learn about the foreclosure laws and timeframes in your state (as every state is different) by contacting the State Government Housing Office.

5. Understand foreclosure prevention options.

Valuable information about foreclosure prevention (also called loss mitigation) options can be found on the internet at
www.fha.gov.

6. Contact a non-profit housing counselor.

The U.S. Department of Housing and Urban Development funds free or very low cost housing counseling nationwide. Housing counselors can help you understand the law and your options, organize your finances and represent you in negotiations with your lender if you need this assistance.

7. Prioritize your spending.

After healthcare, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses-cable TV, memberships, entertainment-that you can eliminate. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage.

8. Use your assets.

Do you have assets-a second car, jewelry, a whole life insurance policy-that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don't significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.

9. Avoid foreclosure prevention companies.

Many for-profit companies will contact you promising to negotiate a loan work out with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three month's mortgage payment) for information and services your lender or a HUD approved housing counselor will provide for free if you contact them. You don't need to pay fees for foreclosure prevention help-use that money to pay the mortgage instead.

10. Don't lose your house to foreclosure recovery scams!

If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a HUD approved housing counselor or trusted real estate professional.

Posted at 05:59 PM in Helpful Tips for Sellers | Permalink | Comments (0) | TrackBack (0)

Setting the Stage Day 3 for $5,000

Posted at 03:17 PM in Helpful Tips for Sellers | Permalink | Comments (0) | TrackBack (0)

Setting the Stage Day 2 for $500

Posted at 03:15 PM in Helpful Tips for Sellers | Permalink | Comments (0) | TrackBack (0)

Setting the Stage Day 1 for $100

Posted at 03:13 PM in Helpful Tips for Sellers | Permalink | Comments (0) | TrackBack (0)

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    These are some photos of Henderson of places of interest and friends and family.
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