Jacksonville Florida Realtor Mike Linkenauger

Litton Loan Servicing Short Sales

We have discovered that in a time when many lenders are VERY slow to approve and process short sales for properties, Litton Loan Servicing is one of the best lenders to work short sales with. They have one of the fastest processing turn around times among all major lenders, and also one of the highest percentages of approvals as well. Their average short sale approval time is approximately 4-5 weeks from the time they receive a completed short sale package. We also are very familiar with the Litton Loan Services Short Sale Policy, and it seems to be very accommodating for home owners. We also know the percentage of the current value that they look to recapture with a short sale offer, and it is very favorable as well. Visit the short sale documents and forms section of our website for a list of the required documents that Litton will need for a short sale on your property, as well as the litton loan servicing loss mitigation department contact phone number.

You should NEVER pay a penny for short sale services, fees are always paid by your lender!

Need help with a short sale with Litton? Ask a short sale expert!

We are a nationwide network of short sale Realtors® who are very experienced at helping home owners who are in financial hardship avoid mortgage foreclosure. If you are considering a Mortgage Short Sale with Litton Loan Servicing on your home, townhome, condo or property, our agents can help short sale your home FREE of charge. This is likely a very tough time for you and your family. Our agents are at your service to answer any questions you may have about the short sale process with your lender. Talk solutions with a state regulated real estate agent and short sale specialist.

Tell us any experiences you may have with Litton Loan Services! Fast, slow, good, bad, horrible??

What do you think?

Mike Linkenauger

Short Sale Specialist Network

(877)737-4903

Find Jacksonville FL Real Estate on our local website, or subscribe
to my blog at http://activerain.com/blogs/mikelinkenauger

Are you a local Short Sale Expert?
Join the Short Sale Specialist Network
www.Short-Sale-Specialists.com

copyrighted content - First Coast Realty Associates 2009 - Please Do not copy

    

     Short Sale Specialists

Hi there!  I wanted to share a excellent resource with you that you may be able to share with your friends and family.  The Short Sale Specialist Network is a nationwide network of short sale expert Realtors who offer FREE help to home owners in financial hardship.  If you have any family or friends, ANYWHERE in the country who are faced with difficult financial times, this is an excellent resource to guide them through the short sale process.  They can visit www.short-sale-specialists.com.  There is absolutely no cost involved!

Find a local Short Sale Specialist!

 

 I have your contact information from when you filled out a form on my Jacksonville real estate website, www.firstcoastre.com.  I do have occasional communications via email, but will NOT misuse your contact information!!   If I can be of service in ANY way, don't hesitate to ask!

Remember, you can also search foreclosure homes FREE of charge at www.firstcoastre.com/custom3.shtml

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Mike Linkenauger

First Coast Realty Associates

(904)733-4911

Find Jacksonville FL Real Estate on our local website, or subscribe
to my blog at http://activerain.com/blogs/mikelinkenauger

Are you a local Short Sale Expert?
Join the Short Sale Specialist Network
www.Short-Sale-Specialists.com

copyrighted content - First Coast Realty Associates - Do not copy

How to Write a short sale offer for Buyers Agents

In our dealings with short sales, we have found an obvious lack of training for real estate agents. Even though we are in "short sale central" here in Florida, at least half of the offers we have come in are asking for seller to make repairs, or missing a short sale addendum, or have some other terms not suitable for a short sale offer.

We created an actual PDF form that we have attached to our MLS listings instructing buyers agents on How to write a short sale offer for Realtors properly. The email address on here actually forwards the offer to myself as well as my head assistant! So far, the form has worked excellent for us! If you like the form, I'll gladly forward a PDF of it.

Short Sale Offer Instructions

Please read these instructions carefully prior to submitting an offer. All offers incorrectly submitted will delay the process and will likely be rejected by the Seller.

1. All short sale properties are to be sold ‘as-is'. Seller is to make no repairs. Please include this statement in your offer.

2. Seller will not pay for a home warranty of any kind.

3. All offers must include a Short Sale Addendum found in the ‘Forms' section of the MLS.

4. All offers must have a Buyer's pre-approval letter or proof of funds.

5. Do NOT put ‘Owner of Record' as the name of the Seller. If after searching the tax records you are still unsure about the name of the Sellers please call.

6. If a MLS listing reads ‘lender approved' or ‘approved at this price' then that is the purchase price the lien holders have communicated to us in either writing or verbally that they will accept. In this instance, if we receive an offer that does not meet the lender's required payoff we will recommend to the Seller that they reject the offer. If you need clarification, feel free to call.

7. When submitting an offer we prefer a scan and emailed copy. Please email us at ‘offers@firstcoastre.com'. If you'd prefer to fax, send it to 904-733-4397.

Thank you for your time and consideration in submitting an offer. We look forward to working with you.

What do you think of our form? Would you add anything to it?

For other resources for Realtors who work short sales, visit www.short-sale-specialists.com

Mike Linkenauger

First Coast Realty Associates

(904)733-4911

Find Jacksonville FL Real Estate on our local website, or subscribe
to my blog at http://activerain.com/blogs/mikelinkenauger

Are you a local Short Sale Expert?
Join the Short Sale Specialist Network
www.Short-Sale-Specialists.com

Extension of the $8,000 First Time Home Buyers Tax Credit, and NEW $6,500 Tax Credit!

Senate leaders had reached a tentative agreement on Wednesday, October 28, 2009 but no bill was passed as of yet. The agreement will extend the $8,000 tax credit from its current November 31st expiration to April 2010, for having any contract or settlement by June 30, 2010.

In the bill there is also a proposed NEW $6,500 credit for current homeowners who lived in their primary residence for 5 years or more and have a joint income below $250,000 ($125,000 for singles). As the previous tax credit has pulled first time home buyers out of the woodwork, the extension will pull any remaining ones off the fence. This "NEW" $6,500 tax credit could pull any existing home owners out into the market as well. The positive aspects of this $6,500 will encourage current owners to sell their existing property and purchase another property.

This is excellent news for all Real Estate professionals!

There was no agreement whether to put the bill to vote on its own or or jointly with other proposed legislation. The bill has to be voted in the house and signed off on by the president to become a law. Lets hope it gets approved before the Winter season!

What do you guys think the impact will be on the extension of the First Time Home Buyers Tax Credit, as well as the $6,500 Credit for existing home owners?

Congress has extended and expanded the homebuyer tax credit. The modifications in the column labeled

"December 1 - April 30, 2010" become effective when President Obama signs the bill. All changes made

to the current credit become effective on that date, as well!!

Mike Linkenauger

First Coast Realty Associates

(904)733-4911

Find Jacksonville FL Real Estate on our local website, or subscribe to my blog at http://activerain.com/blogs/mikelinkenauger

How to write a Short Sale Hardship Letter

Our government estimates by the end of 2009, over 50% of Americans who have a mortgage on their home will owe more than the value of their property. If you are in a difficult financial situation like much of the country, a short sale may be the only alternative to a foreclosure. We do have a saying we use in the business, "a short sale is only for those that HAVE to sell, not for those that WANT to sell". In a short sale, your lender will require you to prove your financial hardship, and the short sale hardship letter is a critical piece of required documentation.

What constitutes a "financial hardship"?

• Loss of employment or reduction in income
• Death in family or major unexpected medical expenses
• Relocation or Job Transfer
• Increased bills or expenses
• Major repairs needed to property, without resources to pay for them
• Divorce

By the time a home owner is considering a short sale, most have already done a "band aid" loan modification, either a forbearance or repayment plan, which is a temporary solution to a long term problem. If you have already written a hardship letter for a loan modification, you will need to write a new one that is more specific to a short sale.

Here are some common things that a short sale hardship letter should and should not contain:

1. The hardship letter should be signed and dated
2. Reference the property address and loan number in the header
3. It should be short and to the point, 5-10 sentences in enough
4. State your hardship, and the circumstances that led you no longer being able to afford the property
5. Make a strong case and relay the desperation of your case
6. Do not blame your lender for your circumstances
7. Do not write to much, they don't have the time to read it
8. End the letter with something like "a short sale seems to be our only solution to avoid foreclosure" or "please consider a short sale on our property, we can find no other answer to our circumstances"
9. Again, don't forget to sign and date it!

CLICK HERE to see some sample short sale hardship letters

While you may be stressed from the financial situation in your life, know that this is only a temporary season in your life. All things come to pass. While the short sale process is anything but "short", you can recover your credit and be ready to purchase a home again in as little as 18 months.

In a short sale, it is important to have an experienced agent to guide you through the short sale process. ALL traditional closing costs are paid for by your lender in a short sale, including your real estate brokerage fees. To find a local short sale Expert who will help you with the process at no cost to you, visit www.short-sale-specialists.com. That site is also a top resource for anything related to short sales including other required documents, and lender specific guidelines and contact information.

Mike Linkenauger
First Coast Realty Associates
(877)737-4903
mlinkenauger@yahoo.com

Find Jacksonville FL Real Estate on our local website, or subscribe to my blog at http://activerain.com/blogs/mikelinkenauger

Copyright 2009 First Coast Realty Associates