About Iredell County, NC

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River Oaks at Lake Norman located at the north end of Lake Norman in Statesville is one of the areas newest luxury home communities. This project will include golf course living and beautiful wooded home sites with homes ranging from $the low $300's up to $1M. The golf course at "The Fairways" is completed and open for business. Fairways homes sites are also available for purchase. Contact us today for amazing offers on Golf Course homes sites that include membership offers. Call Craig at 704-618-2412

Featured Listing at River Oaks

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Email: E-mail
Website: www.YourCharlotteLuxuryHome.com

Charlotte Luxury Community Directory
Golf Course Communities
Waterfront Luxury Homes
Equestrian / Horse Friendly Communities
Gated Communities

Craig R. LePage Realty Group Inc.
Charlotte's Luxury Home Specialist's - Serving the entire Charlotte area including Lake Norman
Ph: 704-618-2412
www.YourCharlotteLuxuryHome.com

At this Holiday Season, we want to reflect on how hard it is to make ends meet, the housing market is now being reported as worse than expected and almost 7 million homeowners are delinquent or under water in their home. Please let us know how we can help. We have closed more than others and actually have a heart for the homeowner....we want to help. Please call us for a confidential interview.

Melissa Polce mjpolce@kw.com & Tanya Garner soldbytanya@gmail.com

When your seller has an FHA mortgage on their home, these are the guidelines . The homeowner should go ahead and apply and send in the complete financial package required by the bank to the bank or servicer when the listing is taken (or even before if possible). An appraisal will be done by an FHA certified appraiser.

When the appraisal comes in and the short sale package is approved the bank will issue a HUD-90045 which will list the price that the home should be sold for. This listed price on the HUD-90045 Approval to Participate will reflect 88% of the appraised value, so depending on the length of the marketing period this price will decrease to a floor of 84% of the appraised value.

When a contract comes in, as long as it meets the details in the guidelines (net proceeds, closing costs, etc.) , it should be approved. The guidelines only give the bank 5 working days to review the contract for sale if the seller has already been approved for the program. (Caution: Allow more time than this for the lienholder approval in your contract because this is not always followed!)

The bank is not allowed to accept an offer that does not meet the minimum allowable thresholds. Important Note: The marketing period for purposes of the net proceeds calculation does not start until the Approval to Participate (HUD-90045) has been issued!

Rules issued by HUD 12-24-08 for the FHA Preforeclosure Sale program. The rules outline net proceeds, acceptable closing costs, payment of liens, etc. :
08-43 PFS Program guidelines issued 12-24-08.

Application to Participate: FHA Application and Financial Form

HUDs Information Disclosure Form (HUD-90035) HUD 90035-Information Disclosure.pdf
Supposedly the 90035 was updated when the new rules were issued in 12/08 to incorporate both 90035 and 90036 but I have not been able to find an updated 90035. I just submitted the application 90036 on my last FHA short sale and didn't have a problem.

Are You facing foreclosure? Please let us help you with a confidential interview regarding the process. A short sale is better than a foreclosure and deed in lieu.

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Melissa Polce mjpolce@kw.com 704-450-4335

www.ExclusiveHomesofCharlotte.com

www.TheShortSaleAgents.com

Email: E-mail
Website: www.CraigLePage.com

www.CharlotteLakeNormanRealEstate.com
www.YourCharlotteLuxuryHome.com

Charlotte Luxury Community Directory
Golf Course Communities
Waterfront Luxury Homes
Equestrian / Horse Friendly Communities
Gated Communities

Craig R. LePage Realty Group Inc.
Charlotte's Real Estate Specialist's

Serving the entire Charlotte area including Lake Norman

Ph: 704-618-2412

336 Broken Arrow Drive, Statesville, NC
Stunning 6BR & 6BA home located in River Oaks Golf course (membership included) overlooks the 8th fairway!  Amazing gourmet kitchen offering, exotic granite, custom cabinets, NEW Electrolux appliances, tile backsplash, wood shelved pantry. Stunning architectural detail throughout the home. Soaring ceiling in the lower level great room with 2nd full kitchen. This amazing home is a must see!

SEE THIS LISTING UP CLOSE

Email: E-mail
Website: www.CraigLePage.com

www.CharlotteLakeNormanRealEstate.com
www.YourCharlotteLuxuryHome.com

Charlotte Luxury Community Directory
Golf Course Communities
Waterfront Luxury Homes
Equestrian / Horse Friendly Communities
Gated Communities

Craig R. LePage Realty Group Inc.
Charlotte's Real Estate Specialist's

Serving the entire Charlotte area including Lake Norman

Ph: 704-618-2412

Lake Norman Waterfront Homes in the Short Sale or Foreclosure Process - Lake Norman Real Estate.

Lake Norman NC situated only 20 minutes from Charlotte has become a desired destination for many looking to relocate. For many who are looking for the BIG DEAL they will find a number of waterfront properties priced well below market value because they are in the short sale or foreclosure process.

The benefit of buying foreclosed home for the buyer is to reduce the dangers when purchasing a property owned already by the banks. For one, financial institutions are willing to give away the foreclosed home at a low price rather than letting it sit empty and decrease its value. Usually, the prices are very buyer friendly whether the buyer wants to live on it or make it as their investment. Almost all of the fees and processes will be handled by the bank to ensure the flawless transaction between them and the buyer. This includes the inspection costs, attorney fees, closing costs, and so many others.

Aside from that, most of the banks are willing to negotiate an enticing price to the buyers by giving them various options when it comes to interest rates. It would invite more and more interested buyers to close the deal as soon as possible thus, making it more favorable for the banks holding the foreclosed home since they can get rid of the property the quickest time.

You can name so many advantages if you would opt for a foreclosed home rather than getting a new home instead. it doesn’t matter if you are someone who wants to invest in a real estate property or someone who is finding a new home. You can simply go to a real estate agent expert in foreclosure so you will know the risks and benefits of foreclosure

!


Mike Carpino
Mike@LakeAndTown.com
704-301-9264