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Why Every Foreclosure Should Be Challenged - Part 1

07-09-09
Kyle Ransom
Kyle Ransom: Real Estate - Other in East Point, GA

Unfortunately, many homeowners don't contest the foreclosure and end up losing their homes or have tried to find a solution to stop foreclosure through conventional means i.e. Chapter 13 Bankruptcy or through a loan modification with moderate success overall. The problem though is that a Chapter 13 almost requires that you hire a lawyer to get it done. If you hire a lawyer, you will need to pay a fee of about $3,500 or more plus court fees. Yes the payments can be put in the bankruptcy monthly payment plan but guess what? The payments mostly all go toward fees before one dime goes towards paying off your debt. So you have essentially picked up another creditor. This is not what you need if you are having trouble making your mortgage payments.

A loan modification is troublesome because many lenders are difficult to work with if you try to do a loan modification yourself, so you almost have to hire a third party to negotiate your loan modification terms for you to get it done. And while there are some reputable companies that offer loan modification services and even free services, many scammers take your money and let the house foreclose. So you have to be careful about who you decide to work with.

Typically your mortgage lender is unwilling to grant you the best deal in a loan modification at first. Generally, a loan modification or filing a Chapter 13 first is not the best alternative to stop foreclosure. It will be necessary to challenge your mortgage lender's rights to foreclose to ensure you get the best deal to receive a mortgage note you can actually afford to stop your foreclosure.

There is a growing trend across the nation which local judges are issuing court orders to stop foreclosures because the lenders are unable to show that they legally own the mortgage notes in due course.

In other words lenders are failing to show proof how they took possession of the mortgage notes. A good example of this would be like having anyone off the streets approach you and say, "You owe me $140K pay me or I am going to foreclose on your home." Without showing any proof that you owe that person, so why should you pay the lender without any proof that they own your home? This is essentially what the majority of mortgage lenders are doing today and largely lenders can not produce the original mortgage notes but have a harder time showing that they own the mortgage notes in due course to have a legal standing to foreclose.

Atlanta's Neighborhoods and Suburbs

Cameron Crossman: Real Estate Agent in Atlanta, GA

At first glance, Atlanta may seem like a homogenous city made up of asphault, suburbs and skyscrapers. This Southern metropolis may not have a Chinatown, a SoHo or a Wicker Park, but have you ever heard of Sweet Auburn, Cabbagetown or Little Five Points? Every bit as eclectic, personal and diverse as those of other large cities, Atlanta's intown neighborhoods and metro suburbs are filled with old Southern charm, alluring history and bright global-minded futures.

ATLANTA INTOWN NEIGHBORHOODS:

Buckhead- A place where old Southern money mixes with young socialities. Buckhead is Atlantas answer to Beverly Hills. This prime financial center boasts some of the city's oldest and stateliest homes, premier shopping malls and a vibrant entertainment district.

Cabbagetown- Defined as the area between Oakland Cemetery and Memorial Drive, the once dilapidated area is being revitalized. Now home to young families, professionals, artists and students, this former textile town has undergone rapid generation gentrification at the hands of newcomers and small business owners.

College Park- With its close proximity to Atlanta's airport, MARTA transit and flavorful restaurants, College Park is one Atlanta's most active and global-minded suburbs. A city rich architectural and cultural heritage, College Park has the state's fourth largest urban historic district, and is near some of Atlanta's historically black colleges such as Morehouse and Spelman.

Decatur- The vibrant streets of downtown Decatur are lined with antique shops, coffee houses, live music and ethnic eateries. The oldest municipality in metro Atlanta, Decatur is where you'll find Emory University, Agnes Scott College and traditional city squares with restaurants and unique shops selling everything from folk art to handmade bags and jewerly.

Downtown- In the heart of it all, the city's downtown streets have been booming since the 1996 Olympic Games. The skyline is full of landmark buildings that house well-known corporations, like Coca-Cola, Georgia Pacific, AT&T and Turner Broadcasting, and some of the city's major tourist attractions, including Underground Atlanta, the New World of Coca-Cola, Turner Field and the Georgia Aquarium. Downtown is also home to Georgia Tech, Georgia State University and the Castleberry Hill arts district.

East Atlanta- East Atlanta Village is emerging from dilapidation to become one of the fastest-growing intown neighborhood. With three major music venues and cuisine options ranging from burritos to vegan and continental, East Atlanta is one of the best-kept secrets in the city, and has gone from being the site of the pivotal Battle of Atlanta, to being an early example of integration in the '60s.

Grant Park- Just outside the downtown area, historic Grant Park is home to some of Atlanta's biggest attractions, including Zoo Atlanta, the Cyclorama and the park that bears its name. The newly revived district is full of Craftsman bungalows and century-old neighborhoods. Located on the rail line, Grant Park flourished until the 1950s, when many of the neighborhood's middle and upper class residents sought more distant suburbs, only to return more than 50 years later.

Little Five Points- In the style of New York City's Greenwich Village, Little Five Points is filled with the sights and sounds of bohemian life. Little Five Points has a rich blend of independently owned shops, art houses, concert venues and edgy theaters. The streets of "Little Five" are always bubbling with students attending concerts the Variety Playhouse and shop owners setting up creative window displays.

Midtown- No other Atlanta neighborhood has experienced the kind of revitalization that has graced Midtown. Defined as the area between Ralph McGill Boulevard and Peachtree Street, Midtown is a mix of historic neighborhoods and modern skyscrapers, as well as an exciting fusion of cultural treasures like the High Museum of Art, the Atlanta Botanical Garden, the Fabulous Fox Theatre and former president Jimmy Carter's humanitarian Carter Center.

Sweet Auburn- This mile and a half stretch of Auburn Avenue is home to many historic buildings, including the birthplace of Martin Luther King, Jr., a pillar of the Civil Rights Movement. The area was named Sweet Auburn because of the freedom, prosperity and property ownership that many black Atlantans were tasting for the first time in the 1940s. The area is also home to the King Center, the Sweet Auburn Curb Market and new mixed-use developments.

Virginia Highland- More like a European village than a subsection of Atlanta, the Highlands is home to the eclectic group of artisans and artists, students and young families. Named after the intersection of Virginia and Highland Avenues, the area was developed in the early 1900s. Today it consists of six distinct commercial villages where lively bistros, art galleries and specialty shops abound.

A mix of quaint to contemporary, and full of Southern allure!

If you're thinking of making a move to or in Atlanta, contact Cameron Crossman, for the best real estate broker in Atlanta! He can provide you with following helpful information right to the convenience of your computer! Homes available, local Atlanta area information, great financing options and government stimulus down payment and tax credits, just to name a few!

LUXURIOUS LUXE Condominiums in Atlanta, GA

Cameron Crossman: Real Estate Agent in Atlanta, GA

Beyond your condo balcony Atlanta appears as never before, revealed by Luxe's exclusive Midtown location. Dazzling million-dollar skylines of Piedmont Park and the historic neighborhoods of Midtown and Ansley Park converge on almost every horizon. At Luxe condominiums, everything you desire is literally at your fingertips, including Atlanta's premier green space, Piedmont Park. With 189 acres of rolling hills, meandering paths and playing fields, it's the perfect neighbor for any outdoor enthusiast.

And if that’s not enough to illustrate the exclusivity of Midtown’s ultimate parkside address, the Luxe condo amenity level will complete the picture. Spa-worthy and resort-inspired, the Luxe condo amenity level confirms the notion that the time has come for life in Midtown and the only way to go, is Luxe.

Overlooking Piedmont Park, Luxe features 112 Condos, five penthouses and 5,000 square feet of street-level retail space. The one, two, and three bedrooms homes range in price from $249,000 to over $1 million. Boasting a view of the Midtown Atlanta skyline, Luxe offers 24-hour concierge service, a furnished guest suite, club room with his and hers saunas, fitness center, pool and pet walk areas.

This 22 floor condominium is unlike any other in Atlanta, GA!

Click here to contact Cameron Crossman and find out additional information on the Luxe. Including units available, photos, pricing, great financing, and showings!

The Privilege of Parkside Living is All Yours

With Over 46,000 Atlanta Real Estate Agents, How Do You Choose One??

Winter Baserva Realtor Atlanta, GA Homes For Sale: Real Estate Agent in Atlanta, GA

With Over 46,000 Atlanta Real Estate Agents, How Do You Choose One??

Ok, there's actually 46,000 in the State of Georgia, but a good amount of them reside in the Atlanta and surrounding areas.

I recently heard a poll that rated real estate agents LESS TRUSTHWORTHY than used car salesmen. WOW!! I was shocked and also made fun of by my four brothers who all sell cars for a living. Nevertheless, it's not a secret that there are a slew of bad agents out there.

I often have clients come to me after "their agent didn't work out" or "their agent didn't know what they were doing." Just because you have a real estate license doesn't make you a real estate agent, you have to EARN the title of real estate agent.

Although these numbers may have changed more or less, the last I heard there were over 46,000 licensed Atlanta real estate agents. Less than a year ago, that number dropped to less than 30,000 active licensed agents. Close to half of the supposed real estate agents out there turned to office jobs or other sources of income because they couldn't survive the market trends. Many say the transition was because it just was "too hard to make it in a down market" and that's where I stand by my theme that you must EARN the title of real estate agent, not just "play agent."

While I can't pick the right agent that is going to work for you (keep in mind different personalities, behaviors and ethics will all fall into finding the right agent for you), I can help you decide how to chose one.....

If You're Looking to Sell, You Should Know the Following About Your Agent:

  • What is their background in marketing? How do they sell their homes? Are they using print, web, postcards?? More importantly are they up-to-date on their technology tactics or using the "old school" strategies trying to sell in "new school times?"
  • What is the average timeframe it takes for them to sell a properly priced home? If it's over 6 months, consider why? Even in a down market, I am selling my properly priced homes in less than 3 months and some within the same week I market them.
  • What are their statistics? Year-to-date sales, etc.? If they don't have solid numbers to provide, consider the source.
  • Do they handle their OWN listings or do they have assistants working for them? Having a team is great, but if your agent's assistant knows more about your home then them, you don't have someone working for YOUR best interest.
  • Are they willing to cut their commission for you?? This one is tricky...keep in mind that if an agent won't stand up for their own worth, how do expect them to represent you at the negotiating table?
  • Will they provide references?
  • Finally, I will ask you to do one more thing....Call the agents you've interviewed after 6 pm during the week and throughout the weekends from a number they will not recognize. If they DO NOT pick up, RUN AS FAST AS YOU CAN.

    With the majority of buyers looking at nights and on the weekends due to work, you need an agent that is there to SELL THEM THE HOME, not an answering machine that by the time they check the message, the buyer has moved on to the other home whose agent DID pick up the phone. I cannot stress this point enough. Listing agents do exact that, they LIST properties and then wait for another agent to sell the property for them. A MARKETING AGENT does exactly that--markets your home to the masses and gets it SOLD!

If You're Looking to Buy, You Should Know the Following About Your Agent:

  • How many clients are they currently working with?? A buyers' agent needs to devote a significant amount of time to you in helping with one of the most important decisions you can make. If they are overwhelmed or unorganized, move on.
  • Did they ask you the following questions:
    • Are you paying cash or pre approved and can you please send me the letter/proof?
    • What is your timeframe?
    • Are you currently working with another agent?
    • Will you sign a buyer's brokerage?

If they didn't RUN, RUN, RUN!!! This means they are running around with any Tom, Dick and Harry and have no value for their own time. You need an agent that values YOUR time and knows the business inside and out and good agents aren't afraid to ask valuable questions to facilitate the process.

  • What is your experience with foreclosures and short sales?? If they don't have solid numbers and "speak the language", MOVE ON seeing as that's a majority of the sales being initiated right now.
  • Will they provide references?

Finally, one very important tip, GOOGLE YOUR AGENT. If they don't know how to brand themselves, how can they brand your home or help you find your next one.....

Yes, there are over 46,000 licensed agents in Georgia, BUT how many of them have actually EARNED THE TITLE???

The Gebhardt Group is on Facebook - Become a Fan Today of North Atlanta Real Estate and Homes!

The Gebhardt Group -  North Metro Atlanta Real Estate: Real Estate Agent in Alpharetta, GA

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Maura Neill, ABR, CRS, MA
The Gebhardt Group
RE/MAX Greater Atlanta
10220 Medlock Bridge Road
Johns Creek, GA 30097

(770) 238-0595
email: Maura@GebhardtGroup.com
website: http://www.GebhardtGroup.com/
blog: http://www.GebhardtGroupBlog.com/