Kris & Kim Darney

Are you a licensed Real Estate Agent in California, Arizona or Nevada? Do you understand the short sale process? Do you have a heart to help home owners avoid foreclosure….and stay in their home?

http://thesharpprogram.org/

Contact us to find out how you can become a SHARP Certified Agent.

Kris and Kim

Are you a licensed Real Estate Agent in California, Arizona or Nevada?

Do you understand the short sale process?

Do you have a heart to help home owners avoid foreclosure….and stay in their home?

Contact us to find out how you can become a Certifed Licensed Agent for the Non Profit SHARP Housing Program...

Kris & Kim

323-999-1822

My grandmother used to say “The only thing on the news these days is Bad News” that was nearly 40 years ago…She refused to watch the evening news as she grew older. I understand now what she was doing, and why. Although the negative then was not as Epic as the negative now she kept informed with the important things in life but protected all of us from the negative outlook on life according to the evening news reporter.

We can all take a lesson from my grandmother on that topic.

I don’t think anyone in America has escaped a daily update on America’s Imploding Status…From the National Debt of $14 Billion Plus to the fact there are over 1.9 million mortgage loans being 90 plus days late with 42 percent of those homeowners not making a mortgage payment for over a year…icing on the cake…the banks have not filed Notice of Default on any of these homes. You know what that indicates…scary…this is truly “Shadow Inventory” at its finest.

Kris and I have a unique advantage in this economy…we have already “lost it all” and are now rebuilding. It’s been a true blessing, yes, a blessing. Being forced to live differently and setting realistic goals even though the “news” tells us we are doomed for years to come. I don’t doubt that we as Americans are going to continue to see great change in our society. I for one think change is good…here is an off the wall thought about painful change but end result is beautiful…

Anyone remember how painful it was when you had your braces put on your teeth? It hurt to talk, eat, basically it just hurt! Each month you experienced the wrenching tightening of the braces as your teeth moved around and you experienced that pain…month after month for years…

Now, remember what it was like when you felt the smooth straight surface of your teeth with your tongue for the first time in years…and then the orthodontist gave you a mirror? Beautiful…the result of that uncomfortable and painful change has been worth it.

We have to understand what is going on in our economy, we are living the painful reality daily. How we allow all the “news” to affect us is our choice. I thank God for my grandmother’s insightful view on Negativity everyday.

Kris and I have a dear friend that we have been helping the last year or so to work through a difficult situation. Due to a considerable loss in income our friend was faced with loosing his home. There were options and the best one a year ago was to enter into a chapter 13 bankruptcy, basically allowing him to get rid of all his debt and keep the house.

Again, the economy struck another blow and his industry was hit harder and his income declined again…no longer able to proceed with the chapter 13 a chapter 7 bankruptcy was filed in it’s place to basically dissolve all debt.

Still desiring to keep his home, he applied for a loan modification. The long process left him tired and mentally beat up as he was not granted a loan modification that he could afford.

We are now working with our dear friend to short sale his home. It’s very difficult for him as you can imagine. He’s owned the home for over 15 years and is established in the community. I’m sharing this true story with all of you for one reason…

Being informed and making the right choices will get you through these difficult, but not impossible times.

“Negative news” surrounds us, don’t let it beat you up. Use it….

Moral of this story…. If your facing uncertainty in making your mortgage payments now, chances are very high that you will need to make very calculated decisions based on what you know to be true about your personal finances and your families long term needs. Don’t put yourself in a “bubble” until you get a foreclosure notice. Making changes now will eliminate one major “anchor” that has you going around in circles making no movement in the direction you must go to “move forward”

Blessings

Announcing a new program…Newly revised that is!

This “Short Sell and Rent Back” program allows home owners to not only Short Sell and Rent Back, these home owners can Buy it Back as early as 2 years after and up to 3 years.

• Rent is at current, fair market value.
• You maintain the home to standards set forth in your agreement…keep the home marketable…i.e. “Clean and Green”!
• The purchase price at the end of this term of 2 years is determined at Future Market Value or FMV.

We first introduced this program 1 year ago only to be met with many restrictions and legal hurdles that all but eliminated many candidates or home owners in distress.

Kim and I have been contacted by many home-owners that are interested in this program…however, bank restrictions were put in place, restricting the ability of the seller, selling the property and renting it back from the new buyer. This is known as “Arms Length Agreement” .

Well, under this new program We are introducing…this “Arm’s Length Agreement” is a non issue…

Here’s what you have to do:

1. You must list your home for sale with us, Kris and Kim (California Licensed Real Estate Agents) to participate. We also have affiliate Real Estate Agents licensed in almost every state in the US…so don’t hesitate to contact us…if this program is available in your state…SEE qualifying states.
2. You should download our book, “Should I Short Sale My Home?”
3. The current market value of the home must be between $80,000 -$729,000 (Contact Kris or Kim to help you establish current market value per MLS).
4. You must be willing to discuss your financial matters with a HUD or trained financial representative.
5. Must be able to by the home back in 2 to 3 years after the agreement.
6. There are a few banks that don’t participate…call us and we’ll discuss.

Bankruptcy FAQ’s Regarding HOA fees:

Question: “Do I still owe HOA fees after filing bankruptcy even though I surrendered my residence? I moved out of my home after I filed bankruptcy but before the discharge.”

Answer: This is a very common question and the bankruptcy code that applies is strange. First. the money you owe the HOA should be listed as a creditor. Hopefully, you disclose this information to your bankruptcy attorney.

Under the law a person surrendering a home, condominium, townhome, any real property having HOA fees, can discharge whatever HOA fees that are owed prior to filing bankruptcy. In other words, if you file bankruptcy, the amount owed for such fees at that time are discharged if the court grants you a Chapter 7 discharge of your debts.

Under the same: Bankruptcy Code 523(a)(16), you are still responsible for the HOA fees until sale or the foreclosure takes place. The Code implies that until you no longer have legal, equitable or possessor ownership in the unit, you owe the fees. This can be fees on a home, condo or some other unit that has Home Owner Associations fees. This applies even if you have moved out and are no longer living at the residence. Thus, any HOA fees or costs including late fees you are still responsible.