Buying Your First Home? Real Estate Agents Are Your Professional Guides. You might be a bit afraid or intimidated by the whole process of buying your first home. As a Chesapeake Bay and Gloucester real estate expert, it's my job to guide you, from beginning to end. I will take the time to go through each and every step of the buying process. There are no dumb questions! Together, we will consider: - How much can you really afford? - How to qualify for a mortgage. - How much cash you should put down. - How to buy a home with little or nothing down. - What it takes to get approved for financing. What banks and other financial institutions are looking for. - How much your payments will be. - The tax advantages of buying. - Is renting or buying better for you? Tell me a bit about your situation below. I'll get right back to you. There is absolutely no charge, and I offer this to you with no strings attached.  New to the home buying process? Tell me your concerns. Ask me questions. It's my job to help! There's no obligation, and I promise to get back to you quickly...
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Short Sales >2. How to Request a Short Sale If you are facing foreclosure and are considering selling your home as a short sale as an out, get in touch with a trusted real estate professional immediately. They will be able to assist you in the process of requesting to short sell your home.
- Your real estate agent will most likely tell you that some banks will not allow a short sale to happen. Contact your lender’s loss mitigation department and speak with a supervisor. Explain your financial situation and ask if you qualify to sell your home as a short sale.
- Ask the supervisor what documents you’ll need to proceed and make copies of those. (Depending on the lender this could be anything from bank statements, tax forms, pay stubs, etc.)
- Ask your real estate agent to come up with a comparative market analysis report to show your lender how much the home is worth based on home sales in the area.
- Write a letter of financial hardship detailing the reasons you are no longer able to make payments on your home.
- When you’ve completed all the aforementioned necessary paperwork, compile it together and mail it to your lender’s loss mitigation department.
- Pending your short sale application approval, request a deficiency release from the bank. The release absolves you of any obligation to pay the balance on the mortgage. If the bank refuses, continue to press the issue.
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| Q |
What oceanfront area is currently the most popular choice among people searching for second homes and vacation homes?
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| A |
According to statistic published early in 2005, the Florida coast is the most sought-after vacation and retirement destination in the United States.
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