Realtors: Don't Short Sales Stink?

SHORT SALES SUCK!!

We here at BlackDog Properties of Central Florida love our real estate agents. Why is there the stigma of the Real Estate Investor being a bad guy? Some real estate agents think that there is an unwritten rule against Investors and them working together. When it comes right down to it, if in harmony, we complement each other.

An average short sale takes 8-months to complete and all in all takes 30-hours. If you're a real estate agent and have attempted to work a short sale, you know this is generous. How often are you stuck on HOLD for at least 45-minutes at a time while your life is on pause? When the pre-screener on the other end answers, how often are they nice and courteous? NEVER!

When they begin speaking to you, they often start the conversation condesendingly, insulting your intelligence and laughing at your incomplete short sale package. Then you ask the homeowner to dig up the missing documents. As time goes by, you are now ready to resubmit the package. Then on HOLD again. And again. And again.

Then you find a buyer. Great news! Now, if only I could get the negotiator on the phone, then we could close this case out. Wait, you still haven't passed the prescreen part! 30 days go by, 60 days go by and you have yet to speak to the negotiator of your case. Then... you lose your buyer.

Short Sales Suck! Just check out the graphic to the right and you will find our tip for you to help get these things closed quickly! Allow us to free up those 45-minute to 1-hour blocks of your daily life. We do not charge you. You can be more attentive to your clients and work on client retention and referrals. You always get your commission, anywhere from 2.5% to 4%.

You can get more short sale deals closed; wash, rinse and repeat! Let us do all of the dirty work. We work with a team of real estate agents who funnel their short sales to us and they just focus on finding the buyers. On average, our deals are ready to close within 90-days!! All you have to worry about are getting the contracts signed!!

Call us today!!

BlackDog Properties of Central Florida

(407) 610-9975 Office Phone

blackdogproperties@gmail.com EMAIL

www.blackdogpropertiesfl.com Website

(800) 364-8905 Fax

Orlando Loan Modifications

HOPE for Homeowners (Help 4 Homeowners) and Hope Now

On a daily basis we are asked about orlando loan modifications and how the government programs can help, such as HOPE 4 Homeowners and Hope Now. Sure, we have no issues with modifying your loan as we have a great team of professionals that do nothing but loan mods, but there are many details and particulars that really need to be fine-tuned prior to proceeding with loan modifications.

It’s not that we want you to short sale with us… period… because it is definitely not that way. We purchase and sell homes in probate and bankruptcy, wholesale properties to investors, lease-option purchases… but the reality of the foreclosure cannot be ignored.

Last July, then-President Bush signed into law the $320-Billion homeowner bailout program aimed at modifying 1 to 2 million “at-risk” mortgages. I bet all you were probably thinking, wow, finally! A bailout for me!!! … WRONG! A bailout for ONE!

THE SKINNY: When the program was officially designed the intent was to help at-risk borrowers refinance into cheaper government-guaranteed loans. This was 1 to 2 million… but when the bill was officially enacted, the number was revised to 400,000. As of April 8, 2009, H4H had received 865 applications and modified only ONE mortgage!!! It's becoming something of a pattern: The government announces a program designed to stabilize financial markets or kickstart lending, but after weeks or months of delay, the goal is shifted or the program simply doesn't work as expected.

I explained this concept to a group of homeowners a few months back and I think I will provide a blog for it detailing why the program will not/did not work. Long story short, one of the main requirements was that you couldn’t be underwater by more than 5%. Do the math…… not exactly in touch with reality, is it?

Well, through all of this mess, to the rescue came… the Hope Now program. The problem with Hope Now has always been the percentage of re-defaults. You know, people who get their mortgage modified, but then six months later end up in default again. Remember, Hope Now is an alliance of lenders, which I endearingly call the alliance of evil (with all respect to Marvel Comics!!!) This alliance is nothing more than a group of banks! What are they trying to do??? Help the homeowner? They stated they were on course to double the number of loan modifications it completes in 2009, however, the group could not estimate how many of the homeowners it had helped fall back into delinquency.

The HOPE NOW February 2009 data shows that modifications were more than half of all solutions provided to homeowners. Yet, the number of foreclosures started in February increased from 217,000 in January to 243,000. Yes, foreclosures are still rising. The banks are still doing something fishy…

GET EDUCATED! With 53% of the loan modification defaulting within the first six months of modification and the banks knowing this, what are they really doing? The lender works with the troubled borrower, trying the entire time to GET AS MUCH MONEY AS POSSIBLE OUT OF THE TROUBLED BORROWER’S POCKET!

IN OTHER NEWS: The wall street journal reported last week that banks are getting ready to ramp up foreclosures since they are so far behind they are losing too much revenue. Do not be the next.


DO NOT FALL INTO THE MOUSETRAP: Call us RIGHT NOW, we are here to serve you.


Marilyn is standing by: (407) 610-9975 and at blackdogproperties@gmail.com

Avoid Foreclosure Orlando

Congratulations!! You didn't just stumble upon us, you are taking action!

One of the most common behaviors I have observed in homeowners in danger of facing foreclosure in Orlando is denial. Unfortunately, this behavior can lead them down to wrong decision-making... like the ol' ostrich does, stick their heads in the sand and hope for the best. There are millions of people that have been foreclosed on and statistics say that there are millions more that will be foreclosed. This is scary.

If you have any timidness you can check that at the door! Our team is friendly and outgoing... and we work hard to serve you. It is our intent in every way, shape or form to find the absolute best solution for you. Sign up for our email list to obtain a list of some of these solutions.

How to avoid foreclosure. Our number one solution has been the short sale, followed by loan modifications. There are many myths and not enough facts out there in the blogosphere or the good ol' web 2.0, but we always want to set the record straight. Have a question? Call us... right now. Yes, I saw the time... call us anyways!

Why would a short sale benefit you over a loan modification? Simple... depends on your situation! Like I have been harping on when I talk to groups, individuals and online friends, there is no "cookie cutter" solution. The fact of a short sale is that it gives you an opportunity to back off and take a deep breath. As you're exhaling, you are working on repairing your credit so that eventually, again, depending on your situation, you may be purchase a new home and take advantage of the crazy low interest rates and the crazy low house prices.

You know what's also insane??? Never in history have there been such low interest rates, low home prices and so much inventory!!! Did I mention NEVER??

So, avoid foreclosure Orlando... if you've been served, stop foreclosure in its tracks!!

Call on us, we're ready to be your ally: (407) 610-9975.

Orlando Short Sales

Thank you for stopping by and checking us out! Why do people in Central Florida call us the Orlando Short Sale Authority? As all inventions, BlackDog Properties of Central Florida was born out of necessity. That necessity was to avoid foreclosure. After our adjustable rate mortgage decided to take a hike without us, we found ourselves struggling to make ends meet. Thankfully, during a business trip to Arizona we stumbled upon Geoff Nowlin, one of the nation’s top real estate investors. After a few short minutes of conversing our situation casually came up… and now the rest is short sale history.

We successfully negotiated our personal home, our primary residence, via a short sale. This meant we were completely and 100% debt free from the mortgage AND did not owe any taxes on the balance accepted. Not only that, but it was a win-win situation for everybody involved. Our property was bought by a local investor at a great bargain, we were now free of the mortgage debt that was drowning and stressing us out and the bank got to avoid a costly foreclosure.

Since those days in your shoes we are now able to say “we know what you are going through and we are here to help find the best possible solution for you!” There are A LOT of scam artists out there, we’ve all seen them on the nightly news. Call on us.. honest, experienced, professional and most important… you are included in our TEAM!

Call on us, we are here to SERVE you.

(407) 610-9975

BlackDog Properties of Central Florida