mike gremila

A: It's not like a bankruptcy or foreclosure that stays on one's credit. However, the owner's credit score could be affected by 100 - 150 points because of missed mortgage payments -- there can't be a short sale if the homeowner is not delinquent on his loan. The homeowner has the banks 'ok' to pay back less than what is owed on the home. The banks may report a 'settled for less than full balance' or 'paid in full' to the credit bureaus. Once the short sale is approved, the homeowner will avoid foreclosure, which would have a drastic affect on one's credit for the next 7 to 10 years.

Here's How It Works We set you up with a Realtor in our nationwide network of preferred short sale Realtors, or use the one you're currently with, to market your property and receive an offer before your property is sold at foreclosure auction. We help you gather financial information to support your hardship, contact your lenders, and get in touch with the lawyers and mortgage insurance companies involved in your case. We submit the offer(s) on your property, the financial information, and other supporting documents to our contacts inside your mortgage servicer to negotiate the short sale of your property. We coordinate with title companies, attorneys, mortgage insurance companies, public trustees, etc. for the approval of your short sale.

Not Sure If You Qualify For A Short Sale? Do You Owe more on your property than what you could sell it for, especially after real estate commission, closing costs, late payments, interest, etc? Have difficulty covering your expenses each month? Not have money in the bank to cover the difference of what you could sell your house for and what you owe the bank?

Are You Having Trouble Making The Payments? Are You Feeling the stress mounting with each missed payment and phone call from your bank? Borrowing money from other sources to pay your mortgage? Getting confused as to what your options are at this point?

Be Proactive And Save Your Credit From Foreclosure Foreclosure stays on your credit for up to seven years and can make it difficult to obtain another loan. Conducting a short sale minimizes the damage to your credit. Effective Short Sale Negotiators

When a homeowner has to sell, has defaulted on the payments, and the proceeds from the sale are going to be less than the mortgage amount, then the bank needs to approve of a "short sale".

A short sale usually occurs when the owner cannot make the mortgage payments and has little or no equity in the home. The bank might approve of the short sale because the foreclosure process can cost a lost of time and money for the lender, and the lender may reason that it is better to just cut the losses and move on. The lender would get the proceeds from the sale, and the owner would be forgiven the rest of the debt owed. This will not work if the owner can clearly make the payments, owns other real estate with lots of equity, or lied on the loan application. It is not an easy way out of a bad investment.

Named for Revolutionary War General John Lacey and was formed on March 23, 1871. General John Lacey in partnership with his son Thomas R. Lacey, developed Ferrago Forge on the middle branch of the Cedar Creek eight miles northwest of Forked River in 1809 which included an area he had surveyed in 1794. It included a dam that created "Forge Pond." The settlement that sprang up around the forge was first called Ferrago Village. General Lacey built a road from the forge to Forked River in 1810 to ship the iron products from Ferrago Forge and nearby Dover Forge built in 1809 by Lacey's son-in-law, William Smith, in what is now Berkeley Township. The road was named Lacey Road. In 1865 William Hurry purchased the Ferrago Forge Tract and renamed the settlement Bamber after the family name of his mother. Mr. Hurry closed the forge shortly thereafter. General Lacey died on February 17, 1814 at the age of 62.

Lacey Township was formed from Dover and Union Townships on March 23, 1871. In 1876 a small portion of the township along the Oyster Creek was ceded to Ocean Township (Waretown) and on June 23, 1933 the southern tip of Long Beach Island (now Island Beach State Park) was ceded to Island Beach Borough when it was formed.

Please visit the Lacey Schoolhouse Museum, Route 9, Forked River.