Jack Lara

Short Sales Tidbits

1. Your lender is more than likely just the service provider for the loan. They make their money by being paid a fee for processing the payment.
2. An investor entity owns the note.
3. The investor can be a business such an insurance company or investment firm. It can also be a government organization that is invested in mortgage back securities to fund a retirement fund. The investor can also be located in another country that only meets once a month to make decisions.
4. Your loan may be held by more than one investor.
5. Some lenders are better organized than others to process a short sale.
6. A lender’s negotiator will have different leeway depending on the investor’s guidelines. Each short sale will be handled differently. The goal of the negotiator is to get the best deal possible in front of the investor that stands the best chance of being approved.
7. The speed of the short sale will also depend on the experience level of the short sale negotiator.
8. The speed of the short sale will also depend on the seller’s real estate agent and the buyer’s real estate agent. It is especially important that the buyer’s agent explain to the buyer the process of the short sale.
9. Sellers please provide all requested/required documents that the lender will need to push the short sale through the process. Even if they asked for same thing the previous week
10. If there is a mortgage insurance company involved they may require cash at closing to approve the short. They may also require a Promissory Note be signed by the seller.
11. The lender may also require a Promissory Note be signed by the seller.
12. Remember there is no guarantee on anything. Even after you get the short sale approval letter from your lender, until you are at the closing table and the transaction has funded it is not over.

The Jones & Lara Team at Keller Williams Realty of Pensacola

7140 N. 9th Ave Pensacola FL 32504

Pensacola Area Properties.com

(850) 471-5020

Email: JonesLaraTeam@gmail.com

Waterfront Home Pensacola FL

New List Price of only $140,000 - This home has 70 feet of water frontage that leads out to Bayou Chico and then into Pensacola Bay and Gulf of Mexico - Four Bedrooms Two Baths, Clean Home, Move-in Ready Home. Pictures click here

Yes it is really in move in condition......

Also have another home now at $160,000 that is in prime condition, Windjammer Court Mariner's Oaks Estates, about 15 minutes from NAS Pensacola.

Jack Lara and Toni Jones, "The Jones & Lara Team" Keller Williams Realty of Pensacola

Pensacola Area Properties

(850) 471-5020

Keller Williams Realty associates may be taking the day off on Thursday, May 13, 2010, but it will hardly be a day of rest. Over 25,000 associates across the United States and Canada will spend their day off by giving back as part of the company’s community service initiative, RED Day.

Short for “Renew, Energize and Donate,” RED Day was created to unite Keller Williams Realty offices and associates in an international day of service. During RED Day 2009, over 25,000 Keller Williams associates participated in activities ranging from food and blood drives to cleaning up trash in public parks, doing yard work for neighbors in need or revamping gardens at nursing homes.

As part of the RED Day effort, Keller Williams Realty Pensacola has chosen to spend the day with Lutheran Services of Florida at the Curry House Shelter, 4610 West Fairfield Drive. Keller Williams associates will be having a picnic for the staff and residents as well as doing general beautification work such as painting, landscaping and pressure washing. Community Bank has generously donated the food for this event while Grace Lutheran Church will be providing the grill. Any donations of sports equipment and/or outdoor furniture would be greatly appreciated.

Come join us on Thursday May 13th at 9:00 A.M. Near the intersection of Fairfield Drive and Mobile Hwy behind the Home Depot.

Jack Lara, (850) 554-9543 Keller Williams Realty of Pensacola

Keller Williams Realty associates may be taking the day off on Thursday, May 13, 2010, but it will hardly be a day of rest. Over 25,000 associates across the United States and Canada will spend their day off by giving back as part of the company’s community service initiative, RED Day.

Short for “Renew, Energize and Donate,” RED Day was created to unite Keller Williams Realty offices and associates in an international day of service. During RED Day 2009, over 25,000 Keller Williams associates participated in activities ranging from food and blood drives to cleaning up trash in public parks, doing yard work for neighbors in need or revamping gardens at nursing homes.

As part of the RED Day effort, Keller Williams Realty Pensacola has chosen to spend the day with Lutheran Services of Florida at the Curry House Shelter, 4610 West Fairfield Drive. Keller Williams associates will be having a picnic for the staff and residents as well as doing general beautification work such as painting, landscaping and pressure washing. Community Bank has generously donated the food for this event while Grace Lutheran Church will be providing the grill. Any donations of sports equipment and/or outdoor furniture would be greatly appreciated.

Come join us on Thursday May 13th at 9:00 A.M. Near the intersection of Fairfield Drive and Mobile Hwy behind the Home Depot.

Jack Lara, (850) 554-9543 Keller Williams Realty of Pensacola