Steven Wood

I need to make sure at least one item is fully defined in my previous post.

I had mentioned in my previous post: "If a seller qualifies for a Short Sale, then it doesn't matter how much is owed. "

A Seller REALLY Qualifies for a Short Sale if the Seller is DESTITUTE.

In other words, if the Seller Has, a Combination of, ANY OF THE FOLLOWING:

No Income AND has No Savings AND has No Other Resources, AND owes Unfathonable Amounts of Money, AND is able to Declare Bankruptcy in a New York Minute, AND it is not due to reasons of their own choosing,,,

BASICALLY if a Seller CANNOT Make A PAYMENT to any of THOSE THAT CAN FORECLOSE ON A PROPERTY,,,

Then that Seller Qualifies for a Short Sale.


This EXCLUDES those that "just don't want to make a payment because he/she has decided not to make a payment because the property's value is lower than what is owed on the property".

Those people have to get dirty. Their Credit Report Rating has to get WAY Low,,,low,,,,below low,,,low,,, Harmfully low!

If a person is digging Himself/Herself out of a Financial Hole that is so big that they can declare Bankruptcy, then they, too, are candidates for a Short Sale. A Bankruptcy is the HOLD/HOLE Card, the (donald)Trump Card, that makes the playing field even (But the cost will be FOR A LONG-TERMED Penalty)

THERE ARE MANY "big brother watching systems" SYSTEM IN THE USA THAT KEEPS TRACT OF ALL THAT GOES ON FINACIALLY. If you have to give a Social Security Account Number to the person on the other side of the Phone Conversation,,,, They have Access to the Big Brother Watching System.

We don't know about them. They exsist. I am not complaining about them. I too am a Capitalist.

TO THE POINT....
The Banks, The Lenders, The Investors, The Insurance Companies, The IRS, The HOA's, The County Tax Collectors, The ,,,,

Will Foreclose on a Property if the Foreclosure Activity will be in Their Best Interest or in their Client's Best Interest. They will not Foreclose on a property if the Foreclosure is not in their best interests, unless directed by some sort of irrational "Policy"!

They will Suffer. They will ask for/accept penneys on the dollar, just to release the lien on the property, otherwise, they CLOUD THE TITLE and the property (in more cases than not) will not be passed onto the next owner.

Each State, has it's own Foreclosure Laws. Those Laws will actually determine (directly, or indirectly) what each Lien Holder will do in a Foreclosure Situation.



By the way, I am not an Attorney or a CPA. Please contact your Attorney and CPA,,,

to verify all that is in this Transmittal.

Sincerely,

Steven P. Wood, Realtor
Palm Coast Realty, Inc,
12300 Alt. A1A, Suite
Palm Beach Gardens, Florida 33410

Direct: 1-800-298-2566

eMail: Steven_P_Wood@msn.com

Web: www.homepages.com/StevenWood1
http://stevenwood.rmlsfl.mlxchange.com/
http://www.ByJoveMyHome.com/

Office: 1-800-298-2566
Fax: 561-277-4215
Cell: 703-851-6535

I am at Your Service for ALL of Your Real Estate Needs, Specializing in Jupiter, Juno Beach, Tequesta and Palm Beach Gardens !!!

I have been a Real Estate Agent in Virginia Beach, Virginia for 3 years in the past. I have been a Real Estate Investor from 2001 to 2006 without being a Licensed Real Estate Agent. I know a lot about buying and selling homes, stopping foreclosures in a non-judicial foreclosure state, forbearance agreements, reinstating loans, short sales, dealing with the Loss Mitigation Department at Mortgage Companies/Banks, equity sharing, contracts for deeds, dealing with people in financial harships as well as people living the good-life.

I have invested in Residential (Single Family, Townhomes, and Condos), Multi-Family, and Commercial Properties. I know about Hard Money Loans, Bridge Loans, and how to work with Mortgage Lenders and can apply my knowledge to helping others with normal and creative financing.

I am a believer in holding Open Houses and creating flyers and other marketing tools to help sell homes. As an Investor, I have sold many of the homes, that I rehabbed, by myself, without the help of Real Estate Agents. When the market got tough, I enlisted the help of Real Estate agents.

I go out and view homes to become familiar with Inventory in order to help Buyers find what they are looking for in the least amount of time.

I am attentive, usually on time, and diligent. I return phone calls and listen to what people want. I used to be an ace computer programmer working on real-time applications and can handle tough and complex situations. I pay attention to the smallest of details.

I am Internet Savvy and am well versed in creating SQL Searches into the Multiple Listing Service for customers looking to buy homes. I have signed up with the House Values/Just Listed Company to find new prospects to help and when time permits, I will be fully integrated with most of the Real Estate Internet Sites!

I am honest. I am a member of The Board of Realtors (I am governed by a Strict Code of Ethics), and I am Licensed to sell real estate in Florida (governed by the State). I do not like to sugar-coat things. I am happiest when I have made a customer happy in achieving what they want or need.

I have relocated BACK to Florida and have been practicing Real Estate Sales and Rentals in Jupiter, Palm Beach Gardens, Juno Beach, and Tequesta since March 2007. My office is located with Illustrated Properties.

I believe in building Relationships where Clients trust me and want me to help them. I do not want to restrict Buyers with a Buyer's Brokerage Agreement, and my only request from my Buyer Clients is to honor that I am in business as a Real Estate Sales Agent and that I am only paid on commissions and that I only get commissions once the Buyer is happy and has obtained what they were looking for. I request from my Seller Clients a full understanding of what the market is doing and to respect the market such that if they want to sell their home (in this market) that they have to be in front of the negative curve and to be in front of the curve with the nicest home.

Areas of Expertise

Jupiter, Palm Beach Gardens, Juno Beach, Tequesta and surrouding areas. I am very familiar with the Short Sale process and can help over-extended Families and Investors either save their homes/equity or incrementally save their credit.

Be sure to tell me what you want to do with your home! Keep it? Sell it? Or, restart your life!

Testimonials

We wanted to express how much we enjoyed working with you during the
purchase of our new home in Jupiter. It was great to have such a
competent real estate agent looking out for our interest. You were
so diligent in your search and always made your self available to fit
our dificult schedules. Finding someone like you who has a Ritz
Carlton customer service attitude is truley remarkable. We are in
the process of moving in and we hope you stop by to see us the next
time you are in the neighborhood. We wish you continued success and
will highly recommend you the next time we hear of someone looking
for a home.

Kind regards,
Bob and Cindy

In this Real Estate Market,,, Anything goes!

If you want the facts... Look me up,,, Knock me up in England,,,,Email or Call me in most other areas,,,

I look forward to your call!

Steven P. Wood, Realtor
Palm Coast Realty, Inc.
12300 Alt. A1A, Suite 209A
Palm Beach Gardens, Florida 33410

Direct: 1-800-298-2566

eMail: Steven_P_Wood@msn.com

Web: www.homepages.com/StevenWood1
http://stevenwood.rmlsfl.mlxchange.com/
http://www.ByJoveMyHome.com/

Office: 1-800-298-2566
Fax: 561-277-4215
Cell: 703-851-6535

I am at Your Service for ALL of Your Real Estate Needs, Specializing in Jupiter, Juno Beach, Tequesta and Palm Beach Gardens !!!

SHORT SALE QUESTION - HOW MUCH IS OWED ON THE PROPERTY? How much can be negotiated on a Short Sale?

I am most curious about the first part of this question.

More than a couple of folks I have talked to about purchasing properties that required a "Short Sale" has asked "How much is owed?"

I cannot figure out why they are asking that question.

Can the folks here enlighten me?

If a seller qualifies for a Short Sale, then it doesn't matter how much is owed!!!

If the seller CANNOT MAKE PAYMENTS (to any of the following: HOA, Condo Association, IRS, County Taxes, 1st Mortgage Lien Holder, etc,) and hasn't made any payments for many months, then the OWNER(s) OF THE LIENS can possibly Foreclose on the property, or has to suffer quietly until the property is sold, and then, May or MAY NOT, be paid.

By definition, the "Short" in "Short Sale" means that the Market Value of the property is SHORT of what is Owed on the property. Be sure to understand the definition of "What is Owed On the Property".

At least One of the Lien Holders of all the Liens on the property is going to have to agree to take less (err, receive a Short payment on that which is owed) than what is owed.

Thank you for your collective responses,

To answer the 2nd question. The percentage that is negotiable depends on many items,

What will be Netted from the Short Sale as opposed to what will be Netted from a Foreclosure (ON THOSE THAT QUALIFY FOR A SHORT SALE) is one of the big ones. The WHO IS THE ONE FORECLOSING is another BIG one.

Be sure to consult with your Attorney and CPA before you enter into any Short Sale Purchase or List your Home as a Short Sale Listing! There is a lot of finger pointing going on!

And now for my Add-On... The market is turning,,, a slow turn,,,,be sure to get In On The Turn before Interest Rates turn UGLY! I invite Foreign Investors (European Investors, African Investors, Asian Investors, Middle Eastern Investors, South American Investors, etc.,) to come to Florida and CAPTURE ALL THE GREAT DEALS HERE!

Sincerely,

Steven P. Wood, Realtor
Palm Coast Realty, Inc.
Palm Beach Gardens, Florida 33410

Direct: 1-800-298-2566

eMail: Steven_P_Wood@msn.com

Web:

www.homepages.com/StevenWood1
http://stevenwood.rmlsfl.mlxchange.com/
http://www.ByJoveMyHome.com/

Office: 1-800-298-2566
Fax: 561-277-4215
Cell: 703-851-6535

I am at Your Service for ALL of Your Real Estate Needs, Specializing in Jupiter, Juno Beach, Tequesta and Palm Beach Gardens !!!

Suffering from HARDSHIPS that affect your ability to sell your home?

Sellers competing with:

1) Builders who are deeply discounting their new homes, and

2) Banks who are selling off their foreclosed properties,

are worried about selling their homes for enough money to cover their mortgage balance.

CALL ME TODAY

1-800-298-2566

Minimize The Damage To your Credit!

I may be able to help you!

Steven P. Wood, Realtor

Cell: 703-851-6535

Office: 800-298-2566

steven_p_wood@msn.com

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