About Osceola County, FL

1338 STALLONE CT, KISSIMMEE FL 34744 $$$ 62,500 $$$

Exterior Front	Living Room
Dining Room	Kitchen
Kitchen	Garage
Master Bedroom	Master Bath
Bedroom 2	Bedroom 2
Exterior Front	Exterior Front

Check out this cute 3 bedroom, 2 bath home waiting for a little attention from you. The great room offers room to entertain, while the garage conversion will make a great hang-out for young and old alike. Your open patio opens to your side yard, ready for grilling out while the game goes on in the spacious backyard. Located near the intersection of 192 and Michigan, you have dining and shopping nearby. Imagine what you can do with this inviting home as your blank canvas! All information recorded in the MLS is intended to be accurate but cannot be guaranteed, buyer advised to verify.

For the latest status on this property and many more in the Kissimmee Area, contact Steve Glose with Keller Williams Realty direct at 407-616-7286 or visit www.thefloridalivingteam.com. For a faster reply you can also email me at steve@thefloridalivingteam.com. Prospective U.K. Buyers please call: 020-3239-7286. All information is deemed reliable but not guaranteed on the date posted. All Short Sale Properties are subject to bank approval of Sale Price.

Visit www.hunterscreekliving.com for more information on all properties for sale in Hunters Creek Orlando.

Hi Folks. I’ve ran across agents, several times this week, not sure how to handle a Short Sale when the property is owned by a trust. So I thought I’d take a minute to explain how this works. Actually I can do it in about 1 second........

…......exactly the same as you would handle any other Short Sale!!

Here’s why.

Short Sales are done for Borrowers. Even though the property is owned by a Trust the note was more than likely signed by an individual. The individual is the one you are doing the Short Sale for. He is the Borrower.

The ownership of the property was probably placed in a Trust after it was purchased. Usually this is done for estate and/or tax purposes.

So.....your listing agreement and the purchase contract would be in the name of the owner of record. This could be a Trust, LLC, INC or a person(s). You would need a copy of the Declaration page for the Trust, LLC or INC to see who is authorized to sign and act on the entity’s behalf. This is the person who signs the agreements.

The Borrower(s) is the person that took out the loan and signed the Note. This could be the same person that is authorized by the Trust or it could be someone else. Whoever it is, this is the person who must go through the Short Sale process. Simple.

Any questions?

Are you facing foreclosure in Florida?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

1. Do I have to be behind on my mortgage payments to qualify for a Short Sale?

• Not necessarily. Some lenders will negotiate a settlement if you are current on payments. You won’t really know until you go through the process. If you are current on payments the lender may very well require you to “participate in the loss” by making a cash contribution, signing a promissory note or both.

1. What is a deficiency and how do I avoid it?

• A deficiency is the difference between the amount of money you owe and the amount of money paid to or collected by the lender. The deficiency is the “Short” in a Short Sale. A deficiency ALWAYS exist with a short sale. You cannot avoid it unless you just keep paying on your mortgage obligation. The real question is..........

1. What happens to the deficiency?

• The deficiency can be waived, written off, paid later, settled or the lender can, at least in Florida, choose to go in front of a Judge and ask for a Deficiency Judgment against you.

1. What is a Deficiency Judgment?

• A Deficiency Judgment is when a Judge issues a Judgment making you personally responsible for the deficiency and giving the creditor the right to go after you for the money you owe. In Florida the creditor has 5 years from the creation of the deficiency*** to ask for the Judgment and another 20 years to collect on it if granted. To collect they may take assets, levy bank accounts and garnish wages. ***Please seek legal advice on this matter.

1. Will I have to pay taxes related to the short sale?

• Maybe. A short sale IS a tax event. Just as with any real estate transaction the sale is reported to the IRS. In addition the “Short” may be written off as a loss to the lender. A loss to the lender is income to you. How this income is taxed is a question for your tax professional. You may also refer to the Debt Relief Act. Unless extended the Debt Relief Act is set to expire at the end of 2012.

1. How will a Short Sale affect my credit?

• How credit scoring works is one of the great mysteries of the universe! The Short Sale itself is not reported as “Short Sale”. Missed and late payments are reported. Also, how the transaction is reported makes a difference. Is it reported as “settled..”, “paid...”, “charged off..”? And have you been paying your other bills? There are just too many variables to be able to give you a precise answer. If your credit score is important to you then my advice is to make your mortgage payments.

1. What advantage is there to doing a Short Sale over just letting the lender foreclose?

• Credit scoring aside....on average you can get another mortgage within 2-3 years assuming you pay all of your bills after a Short Sale. A foreclosure will affect your ability to get a new mortgage for 5-7 years. A Short Sale also gives you the opportunity to negotiate a settlement. It gives you some control over the situation. With a foreclosure you are 100% at the mercy of the lender.

1. How long will the Short Sale process take?

• A normal Short Sale with no complications will take on average 2-3 months from time of contract. Some go much quicker and some take much longer.

1. Will my Short Sale be approved and closed or am I wasting my time?

• We close more than 90% of our Short Sales. As long as you participate, by providing me what I need, when I need it, then yes, your Short Sale will be approved and get closed.

1. When will I have to vacate the property?

• Unless we are able to negotiate something different the day of closing belongs to the Buyer. Most lenders will not allow you to rent the property back after closing so plan on moving. You will normally have 30-45 days notice prior to closing.

1. Who pays your commission?

• The listing agreement is between you and I. So legally you are responsible for paying my commission. However, just as in a regular transaction, the costs of the sale are deducted from the purchase price. This means the buyer brings money to purchase the property and we pay everything out of that. The lender gets whats left. You pay nothing. Unless it is required by the lender and you agree to do so.
  

Additional information:


• CDPE Site
• Contact Bryant
• FannieMae/HAFA Program
• FHA Preforeclosure Sale
• From The Lawyer's Mouth
• HAFA FAQ
• HAFA Guidelines
• IRS Debt Relief Act
• Is Your Loan Owned By FNMA?
• Military HAP Program
• My Short Sale Story
• Property Search Map
• Sample Approval Letters
• Short or Stay?
• Short Sale Approvals
• Short Sale FAQ
• Short Sale Network
• Strategic Short Sales
• Testimonials

I hope this helps. Please feel free to contact me with any additional questions you may have.

Are you facing foreclosure in Florida?



Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.



Copyright © 2011 http://www.brokerbryant.com/ | All Rights Reserved

This Week's Discussions

Short Sale Approvals with Seller isn't Delinquent Howdy Folks - Just curious if anyone is seeing short sale approvals when the seller isn't delinquent. We just did one, but the seller wa… Started by Christopher Pendleton	16	1 minute ago Reply by Bryant Tutas
Short sale lender wants agents to pay for an appraisal. This short sale lender requiring an appraisal rather than a BPO, the kicker...they will not pay for it and will not approve the short sale… Started by Bev Dudley	9	2 minutes ago Reply by Bryant Tutas
Chase cut my commission, but will give seller $30,000! I'm the broker/owner of a small firm. My wife and I are attempting to purchase a $300k Chase short sale for our primary residence. We got… Started by Billy	73	4 minutes ago Reply by Bryant Tutas
Interesting news from the California Association or Realtors regarding licensing and short sale processing http://www.car.org/legal/foreclosure-short-sale-folder/short-sale-negotiators/ Below is the part of the article, use link above to read fu… Started by Jeff Payne	3	5 minutes ago Reply by Bryant Tutas
3rd party SS Processors I recently changed to a new Broker. Company claims, that if you use a certain Escrow Co., that they negotiate your SS for free. Bank get ch… Started by Rochelle Castro	23	6 minutes ago Reply by Bryant Tutas
Using Bankruptcy to avoid foreclosure I have had to sellers that I have been going back and forth about short sales finally decide to go into bankruptcy. There is a couple of p… Started by Kevin Vitali	60	6 hours ago Reply by Ryan Simpson
I Need HELP with a BPO from ING I have a home listed in Scottsdale AZ for 305k. A month or so after listing it we received an offer for 295K. This home is in an ok area, b… Started by Scott Douville	6	7 hours ago Reply by Ryan Simpson
Have you had BOA close files in Equator with no explanation? Hi all, I'm new to the site. I'm a California attorney and real estate broker specializing in short sales. For a bit over 4 years we ha… Started by Spencer Lugash	8	7 hours ago Reply by Eric Mieles
Co-Op Short Sale Assignments Has anyone gotten an e-mail from this company DTS or Dignified Transfer Solutions who is teamed up with Bank of America to assign contacts… Started by Thomas Zdanowicz	27	8 hours ago Reply by DESIREE A BURGOS
I knew when I took the listing that I was going to be sorry. We wrapped up a short sale last week, closed on Tuesday, funded on Weds, in which the first mortgage holder was paid in full, a second and… Started by Jill Ford	2	11 hours ago Reply by Becky Martin

Need Training?

Visit the

OR

Join the Advanced Training Group

(***You must be logged into the site to join the group)

Group members have access to:

• ALL training webinars.

• Currently 10 Webinars with 4 more scheduled (Click to View)

• Short Sale Listing Package
• Expired Listing Letter
• Lis Pendens Letter
• FSBO Letter
• Sample HUDs
• Sample BPO Disputes
• Private Member Forum
• Direct Access to Wendy and Bryant For Short Sale Help

Membership is Only $197.00

This site is owned and operated by REGrow, LLC

A Licensed Florida Real Estate Brokerage

ShortSaleSuperStars@gmail.com

DISCLAIMER

REGrow, LLC does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community.

Visit Short Sale Superstars at: http://shortsalesuperstars.com/?xg_source=msg_mes_network

2816 BOATING BLVD, KISSIMMEE FL 34746 $$$ 175,000 $$$

Exterior Front	Entrance
Dining Room	Kitchen
Great Room	Master Bath/Spa
Master Bath	Patio/Deck
Entrance	Other
Loading Dock	Other

SHORT SALE APPROVED**APPROVED**APPROVED*** This property is ready to close*** This home features beautiful tile floors, stainless steel appliances, spacious bedrooms. All the bedrooms are located upstairs. The kitchen opens to the family room. Separate living/dining combo. The master bathroom has dual sinks**antique brickel fixtures** separate garden tub and separate huge stand-up shower. The master closet is very spacious. It is sitting on a premium lot. It has 2 AC's (upstairs/ downtairs). This home is located in a Golf Community. Boat ramp on site.

For the latest status on this property and many more in the Kissimmee area, contact Steve Glose with Keller Williams Realty direct at 407-616-7286 or visit www.thefloridalivingteam.com. For a faster reply you can also email me at steve@thefloridalivingteam.com. Prospective U.K. Buyers please call: 020-3239-7286. All information is deemed reliable but not guaranteed on the date posted. All Short Sale Properties are subject to bank approval of Sale Price.

Visit www.hunterscreekliving.com for more information on all properties for sale in Hunters Creek Orlando.