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So last week, I was making phone calls to see if people still wanted to sell their home and I had a couple of families tell me that they have had enough and that the are going to give their home back by Deed in Lieu of foreclosure. While this is a definite option, I worry that consumers are not getting the best. Now I am not an attorney, an accountant, or a mortgagor, I am just a Realtor that wants to make sure Homeowners make the best decision for them and/or their family. Now their are many options out their for homeowners that are struggling making their payments, such as loan modifications, Deed in lieu of foreclosure, Walk away, Borrow money, or Foreclosure! For the basis of this post I am just going after 2 options Short Sale and Deed in Leiu of Foreclosure. The disadvantage is you have to find a buyer to make an offer, which takes times and more stress on your finances. banks will also sometime say no or make owners sign a promisary note for a portion of the deficit. As far as Short sales goes, the advantages of them are your Realtor and legal counsel will negotiate with the bank(s) to accept less than what you owe on the loan(s). With Deed in Lieu the biggest advantage is that your will be able to give the home up quickly no real wait time, although most often the bank will want to see an honest attempt to sell the home first. The disadvantage is their has been no attempt to negotiate down the amount owed back to the bank. There is a very strong likeliness that they will come back for the amount owed to the bank. My current recommendation is to give Real Estate Agents that specialize in selling homes Short a chance. It will save you a lot down the road and if that doesn’t work you can then do the deed-in-lieu(banks want to see you have tried selling anyways). Again I am not an attorney, accountant or mortgagor, this is my interpretation of what I have seen in my years as being a Realtor. If you have questions, concerns,or anything you want to add to this please comment to this post would be happy to hear everyone’s take on this
oming in June DeKalb gets a Collegiate Prospecting Baseball team called the Liners. These games will be played at Founders Field in sycamore. Looks like there are about 15 home games, price varies from 6 – 10 dollars. there is group pricing and table pricing as well.
Here is a little information taken from the Liners website
“Starting June 6, 2010, the Liners will play their first home summer collegiate baseball games at the renovated “Founders Field” located in the Sycamore Park, @ Airport Road, just off Route 64, in Sycamore, Illinois. The Liners baseball team roster will include local and national collegiate players.
The Liners are members of the Prospect Summer Collegiate Baseball League. The Prospect League is comprised of teams participating in 3 divisions, in Illinois, Missouri, Indiana, Ohio, Pennsylvania, West Virginia and Tennessee. Since the 1960’s, the Prospect League has been attracting some of the most talented collegiate baseball players to play their summer baseball in the league. Nearby teams are located in Springfield, Danville, Quincy and Lisle, Illinois. Listed below are some of the many current and past major leaguers who have played in the Prospect League: Gary Gaetti, Joe Girardi, Rusty Greer, Ken Holtzman, Ryan Howard, Don Kessinger, Jonathon Papelbon, Kirby Puckett, Rick Reuschel, Mike Schmidt, Kevin Seitzer, Tim Stoddard and Jim Sundberg.
“We are pleased to support The DeKalb County Baseball Club, in its efforts to bring summer collegiate baseball games, lots of fun and entertainment to the citizens of DeKalb County. Liners Baseball – 2010 – Be a part of it!”” – taken from Liners website
Personally I am looking forward to be able to go to watch a good baseball game and not walk away 200 dollars less in my pocket. Cant wait to see you out there!
*reposted from darenews.wordpress.com
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Life Long Dekalb Resident with strong sense of community. I spent my complete professional career as a leader, communicator and consultant. I take these skills to a successful real estate career
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