Shannon Thomas REALTOR® SFR Want to Sell Your Home?

Hud HOmes can be a great buy and alot of buyers take advantage of the opportunities that they afford them but if you have a buyer from out of town it can be next to impossible or at least difficult to complete a purchase. I just recently had an out of town purchase and accepted offer but it wasn't easy. The buyer lived 3 hours from the property that he purchased. The forms had to all be wet signed and HUD doesn't accept any other form of signature, not faxed, scanned or electronic.

It was like going back to the horse and buggy, pony express days. We signed everything up front before he left but we still had to have one form we missed signed and then there was the Title Company's request after the accepted offer for a form to be wet signed and sen back t to them.

Between me and the buyer we did complete the transaction but Please Hud make it easier on us Realtors and the Buyers who want to purchase.

I have been using Docusign for a long while now and can't imagine life without it. Its so convenient and wonderful for out of town home buyers and Out of town Home Owners that want to sell their home. Its the best invention ever for the Real Estate industry and should get a Green award for all the Gas it saves accross the country.

The United States Passed a law in 2010 (The Electronic Signatures in Global and National Commerce Act) that states its illegal not to accept Digital signatures. So Why doesn't Hud an entity of The US Goverment accept them. I am looking forward to the Day when Hud Does accept digital, faxed or scanned in documents. It will be a day to remember.

According to SFR Short Sales and Foreclosure Resource What are your Foreclosure alternatives in Indiana?

1. Refinance It can be difficult and you have to call every day to make sure they have the documents you sent and they have recorded every transaction. Keep notes! Date, time and who you talked to. Refinance is only if you qualify and you meet eligiblity. Credit still must meet certian criteria.

2. Lender Workout Sometime lenders will work with distressed homeowners to help them keep their homes by reducing or rolling back your interest, forgiving or adding payments to the loan amount.

3. Sell and Bring Cash to Closing Homeowners may have to liquidate assets to bring to closing

4. Deed In Lieu of Foreclosure Borrow agrees to trade the property to Lender for the cancelation of the loan.

Must make sure the lender will forgive the note and not come after the defiency.

5. Foreclosure If the homeowner is close to the auction date it maybe to late for alternatives but still explore

and see what can be done.

6. Do nothing or Walk Away Talk to an Attorney or Realtor experienced in short sales for advice. The lender

reserves the right to pursue the defiency.

7. Short Sale Short sale looks better on your credit then a foreclosure and can have deficiency forgiven

When facing foreclosure you should talk to a qualified Foreclosure Attorney and a Short Sale Realtor.

If you are contemplating having a Short sale you have to be on board with the Realtor you work with and do exactly as they say. Have the documents necessary on time and be patient and diligent.

Indiana is a Recourse State Meaning the Banks can come after you for the deficiency. (If you owe 300,000 and the bank sells for 225,000, you would still owe the bank $75,000) They may persue you for that amount. It may be soon after a foreclosure or it might be years. Thats why sitting down with a foreclosure Attorney and or a Realtor that is experienced with Short sales to see if you qualify is important.

Great Indianapolis Property Search

According to About.com article on short sales and acceptable hardships. FHA short sale Guidelines

List of Possible Hardships for a shortsale. The more combined hardships the better chance of a Shortsale being accepted. A Hardship is the underlying condition that has caused the inability to pay the mortgage.

Death of principal mortgagor

Death of mortgagor's family member

Illness of principal mortgagor

Illness of mortgagor's family member

Marital difficulties

Curtailment of income

Unemployment

Excessive obligations

Inability to sell property

Job Relocation

Property problem (roof leaks, construction litigation, etc.)

Incarceration

Inability to rent property

Military Service

Casualty loss (such as a Hurricane, etc.)

Energy-Environmental costs

Servicing problems

Payment adjustment (ARM Adjusting)

Payment dispute

Transfer of ownership pending

Fraud

Abandonment of property (due to condition of property, for instance)

It is Usually not just one single event that has put a Loan into foreclosure. Often times it is several combined hardships. Always list all of the underlying causes for your inabliity to continue making your payments.

Its absolutely gorgeous today. My daffodills are out, crocuses and I'm even seeing little light green buds on some trees. I'm delighted! Its been a long cold and icy winter in Indiana and I'm feeling the joy of feeling the warmth of the sun and running around without a coat. Not having to be so wrapped up and carrying all that extra gear, like gloves and such is wonderful. Can't tell you how many gloves I lost this year. But if one goes the other should of got lost also. Its just not right not to have its mate. I have one of several with the missing mate.

Along with Spring comes the buyers and boy are they out here in Avon, Indiana where I sell Real Estate.

Showings in the Spring is such a pleasure, buyers, like spring, have a spring attitude. Smiling, positive and looking forward to their future.

It is the time to Buy a Home right now. Interest rates are still low. Indianapolis and the metro area Real Estate has a great selection of Homes for great prices for sale.