Heather Fitzgerald, REALTOR Greenwood Indiana Real Estate

CNBC is talking about a short pay refi as we speak right now.  They are talking with a homeowner who is on a 5 year fixed, and then adjustable rate.  He put twenty percent down within the last two years and is still upside down on his loan.

His lender quoted him that it could hurt his credit by 150 points.  His lender should not talk with him about how much it will hurt or not hurt his credit, as each person is affected differently, depending on each individual factor on his account.

This consumer could be hurt on his credit score as well as be asked by his lender to pay a promissory note for the deficiency balance, thereby possibly ending up with two loans owing for his home that he will have to pay.

CNBC

 

If you are considering a Short Pay Refi, educate yourself.

 

 

About the Author: The above info regarding Greenwood IN was provided by: Heather Fitzgerald, who has over 15 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-885-8858. Thinking of selling your home or buing your next home? We can help you with this. I service the following areas: Greenwood IN, Indianapolis IN, Franklin IN, Whiteland IN, Mooresville IN, Martinsville IN, Avon IN, Carmel IN, Westfield IN and surrounding areas. Check more properties at no obligation: http://www.SmithFitgeraldTeam.com

Copyright © 2009 By Heather Fitzgerald-Greenwood IN Real Estate----Short Pay Refi-All Rights Reserved.

 

Are your children looking for something creative and fun to do to begin their summer? At the Greenwood IN Johnson County Library they have just the thing!

photo by Paul Watson, on Flickr

The Johnson County Public Library in Greenwood IN is accepting entries from June 1st thru the 30th for their very first Children's Creative Writing Contest.  Students entering grades 1st thru 6th are eligible to submit 1,000 words or less stories that answer the question "What would happen if you were locked in the library overnight?"

 

For more details, check out any Johnson County Public library or www.jcplin.org.  You can also call Heather Grantham, the Children's Services librarian for more information at 317.738.2833

About the Author: The above info regarding Greenwood IN was provided by: Heather Fitzgerald, who has over 15 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-885-8858. Thinking of selling your home or buing your next home? We can help you with this. I service the following areas: Greenwood IN, Indianapolis IN, Franklin IN, Whiteland IN, Mooresville IN, Martinsville IN, Avon IN, Carmel IN, Westfield IN and surrounding areas. Check more properties at no obligation: http://www.SmithFitgeraldTeam.com

Are you trying to find Greenwood IN Short Sales and surrounding areas?

 

 

 

 

 

About the Author: The above info regarding Greenwood IN Short Sales was provided by:

 

Heather Fitzgerald, who has over 15 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached via e-mail at heather@harbertcompany.com or by phone at 317-885-8858.

 

Thinking of selling your home or buing your next home?

 

We can help you with this. I service the following areas: Greenwood IN, Indianapolis IN, Franklin IN, Whiteland IN, Mooresville IN, Martinsville IN, Avon IN, Carmel IN, Westfield IN and surrounding areas.

 

There are currently 60 Active Short Sale Listings in Greenwood IN. They range in price from $48,000 to $700,000. There are currently 8 Pending Short Sales in Greenwood. In the last year there have been 17 listings that have closed that are Greenwood IN Short Sales.

We have been involved in each of these categories, and are experienced Greenwood IN Short Sale Agents.

Picture provided by: by MyHomeSave

If you are thinking of selling your home as a short sale, ask the agent you are thinking of listing with how many short sales they have listed this year, how many Short Sales they have closed.

 

 Picture courtesy of FLICKR-Short Sales

 

If you are thinking of buying a Short Sale, you will need an experienced Short Sale Agent. 

• Make sure your agent prices your offer around market value if you are truly interested in purchasing this property.  If it is a "HOT" property, you run the risk of someone not lowballing and writing a much stronger offer than you.  Start out a little lower, but whatever you offer, always offer what you are comfortable walking away without an accepted offer in hand, knowing that you gave it your BEST effort.
• Know that most banks in a Short Sale situation are not yet handling these offers where they would counter, most are simply rejecting the offer.  There are a couple out there that have gotten savvy and up to date enough that their Short Sale department will actually volunteer where the offer needs to be for them to accept the offer.
• Banks work off of Bottom Line, what their net will be.  There are fees that some of the banks will not pay, and some will pay.  Some of these fees are home warranties, extreme amount of buyer closing costs, surveys, etc.  Some banks will pay past due HOA fees, SOME WILL NOT.
• Make sure your agent asks if the seller has FHA financing, as there are certain criteria to follow on FHA Short Sales, specifically on how the agent will write your offer/what is allowable and what isn't.

About the Author: The above info regarding Greenwood IN Short Sales was provided by: Heather Fitzgerald, who has over 15 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-885-8858. Thinking of selling your home or buing your next home? We can help you with this. I service the following areas: Greenwood IN, Indianapolis IN, Franklin IN, Whiteland IN, Mooresville IN, Martinsville IN, Avon IN, Carmel IN, Westfield IN and surrounding areas.

Picure provided by THEORO-FLICKR

As we celebrate Mother's Day tomorrow, I wanted to wish all of you Mothers out there a Happy Mother's Day. For those of us that are Mothers, those that have lost Mothers, those Mothers that have lost, those that are like Mother's to us, and those that are becoming Mothers.

May you have a safe and blessed day tomorrow, with your family hopefully!!!!

Heather Fitzgerald Greenwood IN REALTOR 317 885 8858