Doylestown, PA

The Bucks County Real Estate Staging Association (BCRESA) is looking for Realtors in Bucks County who would like to take advantage of a free hands-on home staging of an occupied home ready to go on the market or currently listed in Bucks County PA.

Our team of stagers will stage an occupied home for your realty office using the clients furnishings and accessories. In addition, we will provide a list of suggested changes for the home owner, if warranted.

To find out additional information about this program, and how you can participate in this limited time offer, please email us!

Beth Baker
BCRESA Chapter President
215-205-3199

It all makes sense to me right now! Last October I listed a property. The Seller was very close to being underwater. After trying to market the property at $299,900 and not one single showing and the Seller being unable to make the payments any further we decided a short sale would be in order. We incrementally reduced the price until I recived a cash offer in Feburary for $265,000. Great! the mortgage company. Midland, will love me and I will have this closed out in no time. WRONG!

The Midland mortgage company said we need to get an appraisal, understandable, one month later no appraisal and the Buyer walks. One week later the appraisal comes back at $250,000. Okay! I'm a little upset with the mortgage company thinking that I just lost a sale and they lost $15,000, however, they don't seem to care. I can be patient. Lets start over. The mortgage company agrees.

I put the property back on the market and after a couple of weeks I get 2 offers. One for $249,000 and one for $244,000. We are now in the beginning of April. I submit both offer with full short sale packages to the Midland Mortgage Company because I know what I am doing now and I am a Certified Distressed Property Expert. I'll have the closed in no time!

The mortgage company suprisingly after loseing the first deal just drags their feet! I am constatntly on the phone trying to get them whatever they want. Sometimes sending things 3 and 4 times. Don't know how they lose all of this stuff, but they somehow manage to. The end of May roles around and I get in touch with the negioator somehow and she tells me sorry, we were just about to approve the short sale, but the Seller filed for bankruptcy! Sure they were just about to approve it! She then proceeds to tell me that if they do not get relief within 30 days from the court to sell the property we must start the entire process over again. WHAT! Why would we do that? I work frantically to get it done within 30 days since the hearing is scheduled for relief in 28 days. 28th day approved, great! I call the Midland Mortgage company and said lets move forward. Ya right! they tell me that it needs to be entered into their system which could take 3-4 days. Imagine that! Why would they want to keep carrying this house and losing money? None of this makes sense.

Beginning of July the Midland Mortgage Company tells me they have it in their system, but since it was not entered into their system within the 30 days so I must start from the beginning. All the way up to a supervisor I go, dosen't matter, thats there rules! I can't figure this out for the life of me. Don't they want to get this proven deterioting asset off their books? Buyer #2 walks away!

I am now left with one Buyer who has an offer in for $244,000, $21,000 less then the original offer 5 months ago and the mortgage company still does not care. WHY?

Because, remember, the mortgage company only services the loan. They are not the investor losing the money. But, aren't they obligated to do what is best for the investor? I guess, but I come to find out that the longer they hold onto the loan the more fees they collect, which comes out of the profits from the investors shares and if they are lucky enough to get it to forclosure they then get to run title several times $$$$, give it to a company to sell it $$$$ and insure it $$$$, all of which they normally own or have partnerships with the various enities plus, remember all those cost come out of the investors pocket.

Now it all makes sense why on that other deal I had where I represented the Buyer on a bank owed property they insisted on ordering title and paying for it. They got reimbursed for the title from the investor and made money on the title since it was their title company. Sounds like a great deal for the mortgage company, but not for the investor who could have recouped another $4000 by having the buyer pay for title as is normal in Pennsylvania.

So the incentive for any mortgage company servicing a loan is to hold onto it as long as possible and take it to foreclsorue because at the end of the day that is where they will make the most profit and the investor just continues to lose!

So good luck with short sales, especially if you are dealing with Midland Mortgage Co. and if you are an investor and have Midland Mortgage company servicing your loan, watch out!

www.scottirvin.com

Bucks County Homes For Sale

Our portfolio true jumbo mortgage rates continue to trend downward this week in Bucks County, PA. Despite the 2009 conforming loan limit remaining at $420,000 in Bucks County, we still are able to offer affordable financing to qualified borrowers for purchases as well as refinances. Bucks County is one of the many Counties in PA where the conforming loan limit remains around 417k.

Currently we have the following Jumbo Rates with 0 points as of business close on 7/1/2009:

Call for specific quotes

Typical minimum FICO scores of 680/700. Full Doc loans only. Subject to verification of post closing assets and full underwriting.*

With our corporate offices in nearby Horsham, PA., we are always looking to offer niche financing in our own proverbial backyard.

Currently with loan to values of up to 80% on purchase money/rate term refinances to $750,000, 75% on purchase money/rate term refinances up to $1,250,000, and up to 70% Financing to $1,500,000. This is also a great program for second home financing.

We also have 5/1 ARM programs in the mid 4's for loan to values of 70% or less.

We also offer competitive pricing on FHA, VA and Conventional Loans in Bucks County, PA, as well USDA loans in qualified RD areas. Stated Income programs are also slowly making a comeback as well..

We also have other Jumbo available in Bucks County, including our bi-weekly equity builder loan program, which allows for financing to trusts, both revocable and irrevocable. Call for details on these ever-changing products.

Michael Byrne

908 531 6170 Cell

www.refi-fhasecure.com

www.mortgageprosforum.com

* Guidelines subject to change without notice and subject to final investor underwriting **Price adjustments for loans over $750k on fixed rate loans: add a .25% for fixed rates over 750k

Gateway Funding Diversified Mortgage Services, L.P. is licensed by the PA Department of Banking as a first mortgage banker and licensed pursuant to the PA Secondary Mortgage Loan Act; Arkansas Mortgage Company License; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act; DC Mortgage Lender and Broker; a Georgia Residential Mortgage Licensee (#15499); Illinois Residential Mortgage Licensee; Kansas licensed Mortgage Company; Massachusetts Mortgage Lender and Broker (#MC-3052); Licensed by the New Hampshire Banking Department (#10192-MBB); Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker NYS Banking Department; a Mortgage Lender and Broker in Rhode Island; Gateway Funding is also authorized or exempt as a mortgage banker in AL, CO, CT, DE, FL, IN, IA, ME, MD MI, MN, MO, MT, NE, NV, NM, NC, OH, OK, OR, SC, TN, TX, UT, VT, VA, WV, and WI. This is not an offer to extend credit to any individual who may be entitled to a more complete disclosure per RESPA, TILA, HOEPA or any other more applicable federal, state or local law or regulation, Rates, Terms, Fees and Equity requirements are subject to change without notice. For qualified borrowers only. Equal Housing Lender. © 2008 Gateway Funding Diversified Mortgage Services, L.P.

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Doylestown Colonial Reduced $20,000!

REDUCED $20,000 To $474,900 In the Hearthstone Neighborhood In Buckingham Twp. Bucks County PA

All Wallpaper Has Be Removed and Most Of The Rooms Have Been Freshly Painted!!!

This beautiful colonial with stone facade is situated on a cul-de-sac in the desirable Hearthstone Community. This home's curb appeal with custom driveway, walkway and landscaping is inviting you to come in. The main level features formal living and dining rooms with bay windows, a two story sun drenched family room with a stone fireplace and a wall of windows, kitchen feature stainless appliances, ceramic tile counter tops and backsplash, hardwood floors and an Anderson slider leading to the covered back porch featuring mahogany floor just in time for spring & summer. Upstairs boasts the main bedroom suite with two walk in closets and private full bath with both a whirlpool tub and a stall shower, three other nicely sizes bedrooms and full bath. The finished basement has three separate areas for entertaining or relaxing. Come and enjoy this beautiful home located in beautiful Bucks County and close to shopping, schools and main roads. Special financing incentives available on the property thru Sirva Mortgage

Contact Marcie Purcell 215-534-2539 And Linda Tremblay 215-534-2369 For More Information and Pictures Of This Home At 3962 Amberton Court Doylestown, PA 18901

Growth Leader has blossomed, and is keeping me very busy!  HOORAY!

 I met for the second time today, with my first Growth Leader generated buyer.  They brought additional family members, and we have placed an offer on a house!

 This afternoon, I am meeting with my second Growth Leader generated Buyer, also for the second time as well.  We are looking at 11 homes, with a goal to settle by June 1 at the latest!  They are motivated, and pre-approved.  We are discussing how to purchase a home with these first time home buyers!

 This past week, the third Growth Leader generated buyer I have met, was preapproved for his mortgage, and we are planning our second house hunting trip together.

 Tomorrow, the fourth Growth Leader generated buyer and I, are going to look at homes.  She is a first time home buyer as well, and is excited about the home buying process.  She has an appointment to get pre-approved as well.

 76 active and hot prospects are in my data base on Growth Leader now, and I am getting more leads every day.  I am actually in the process of showing homes, or in contact with all 10 of my HOT leads!

 I also have two of my buyers, that directed to my Growth Leader web site, where they actually found their home, and they are in the SOLD category.

 I have two pages of inactive and trash leads with some very famous people.  I have the likes of Mickey Mouse, Ben Dover, and Courtney Love, search for homes in my web site.  I feel so privileged they took the time to come visit ME!  LOL!!

Overall, I am very excited and pleased to be on the Growth Leader program.  It is a great place to organize leads, follow on leads, and contact leads, all the while, farming and cultivating my on line farming area in the attempt to get a house sold.

 Thanks Growth Leader

Don Bradbury

www.servingbucksandlehighcounties.com