E Jeffrey Dolfinger

It has been sometime since my last blog, I think it was early March or so. Since then I have literally been working 12-16 hour days between managing foreclosures and managing my life as a father of 4 not one older than 9. Sleep has not been in my vocabulary, its been all about feeding those children. Well I guess my hard work paid off because last week I spent a little under an hour being interviewed by a reporter from the associated press. Late Friday night I received an email that I had been quoted in the AP Newswire. The article was picked up by Cnnmoney.com Forbes.com, Businessweek.com, CBS.com, Foxnews.com and various print newspapers across the country. To me this is an honor, however so small.

Here is a link to the article. A few others from AR were also quoted.

http://ap.google.com/article/ALeqM5iY7tii9ZwSxT1kh0eE7Ap-uIxgyQD914RDF00

www.dolfinger.com

Liens have positions on the title to property, 1st, 2nd, 3rd etc. A 2nd mortgage lien holder can foreclose on a property but their foreclosure action is subject to the lien of the 1st lienholder. So if someone where to buy the home at the auction or from the lender as an REO they would still have to pay off the 1st mortgage lienholder.

Conversely if a 2nd lienholder where to foreclose on a property with 3 or more mortgage liens then every lien, mortgage or not, with the exception of taxes recorded of record on the property after the date of 2nd mortgage would be exstinguished by the foreclosure action of the second mortgage holder.

So when a 1st postion mortgage holder forecloses they extinguish all liens that are subsquent to them with the exception of taxes.

Looking to buy a foreclosure in New York, contact me at www.247REOREALTY.com

This was the question that was in front of me today from a prospective seller, a lawyer. The client wanted to sell her investment property that she had purchased just a few years ago. This was my response.

1) I described my resume which included, REO, Shorts, new construction building and sales, property management, limited re-sale, 1 relo sale, as well as my formal real estate training from the private equity world of formal institutional investments from a due diligence perspective dating back to 1992.

2) I described how I did a CMA versus the resale approach used by most agents and the differences of each.

3) I detailed how I comp 20 or more properties per month for lenders and do an average of 10 insurance inspections per month in which I was paid to see every flaw and would be able to point that out to her before the listing, giving her a chance to fix items if money allowed.

4) I detailed how REO guys do not want to list anything that will not sell as the position is very time consuming and labor intensive. Thus my pricing would most likey be more conservative that most.

5) I told her that I would not take the listing if I truely believed that we could not get her price as it would be a waste of time for everyone.

6) I told her how 90% of my listing come via email with no advertising, thus I would tell it to her straight as I had no need to give a pie in the sky price and wait her out for a price reduction.

Yes, an REO guy can sell re-sale also, maybe better than most in this market.

Selling your home, have it evaluated from the most conservative real estate broker in town. Straight talk on pricing. In the Hudson Valley call me at 845-656-0012 or visit www.Dolfinger.com

All I hear from other Realtors is them telling their clients facing foreclosure not to file bankruptcy. Usually they use future credit as the reason. That's hogwash a foreclosure causes almost as much damage to a credit score. Then after the short fails the agents pulls the listing and the seller moves out and the home goes into foreclosure.

This attitude and direction is a big mistake, even the lenders would agree.

Lenders want the homes protected, winterized and kept up, when someone walks this does not happen, pipes freeze the grass goes uncut etc. Lenders understand bankruptcy and know how to work with it.

When an individual files for bankruptcy it gives them time to work things out. They stay in their home and are afforded the opportunity to work out a plan to repay the lender over time. If they are unable to work out a mutually benefical plan they get to move out in an orderly fashion and the lenders gets proper notice about the move and a real chance to protect the asset.

If you are an owner and are facing foreclosure bankruptcy is a viable option that may help you keep your home. If you reside in the Dutchess County New York area please contact me for a referral to a few of our local experts that will not lie and pick your pockets. Contact me at http://www.247reorealty.com/

Here is a link to the US Bankruptcy Court for the Sourthern District of NY http://www.nysb.uscourts.gov/

BANKRUPTCY is not a bad word!

The past few nights the moon has been real bright and the coyotes are howling like crazy. I grew up in the town where I now reside and do not remember hearing or even seeing coyotes very often as a young child or young adult. Last night I was awaken to the howls of at least 5 or 6.

This year while hunting I saw what I thought was a Siberian Husky that had gotten loose only to realize that it was a large coyote. It was so big that it made me have second thoughts about being in the woods sitting on the ground with a bow and arrow.

Everyone I talk too has noticed an increase in the coyotes hear in Hyde Park, New York. They are becoming a concern. The other day in mid day my dogs were going nuts and would not stop. When I finally looked out the window I saw why, a large coyote crossing my back field, not even paying any attention to my two dogs. While it is nice to see wildlife flourish it makes me wonder if there is a population problem with the coyotes.

In discussions with my neighbors they are split on the coyotes. Ironically the hunters say they are great because they eat anything dead or dying,roadkill etc. My non hunting neighbors don't like the fact that I tell them I saw coyotes cross over their yards and seem afraid or nervous. One neighbor even asked me to shot the coyote. I told her I could not morally do that as I firmly believe in not shooting a living creature just for the sake of it.

I showed a home the other day on 5 acres close to where I reside and told my story about the big coyote. The buyers wife looked at her husband and said " This is why we need neighbors."

I never thought that a coyote or the coyote population would effect a potential sale.

Has anyone else seeing a rise in the number of coyotes?