Real Estate Information, Delaware Real Estate Expertrs, Avoid Foreclosure in Delaware, Short Sale Information, Selling a Home In Delaware, Buying a Home in Delaware, Newark, Bear, Wilmington, Middleto

Delaware Real Estate Blog

The Team Sordelet Realty Group

Blog

Displaying blog entries 161-170 of 184

Deed-In-Lieu of Foreclosure or Short Sale?

Tuesday, October 26, 2010
by The Team Sordelet Realty Group

Many people ask if they should do a deed-in-lieu of Foreclosure and give their house back to their lender.

A deed-in-lieu does have its benefits! Lenders like them because they speed up the Foreclosure.

Discover how other sellers successfully did a short sale and request a free consultation by clicking here.

A deed-in-lieu is the equivalent to a "No Contest" plea in a criminal trial. You just give up on the Foreclosure. If there is a foreclosure court case, the judge will still have to schedule a foreclosure sale. Contrary to popular opinion, a deed-in-lieu does not automatically release you from the debt. This means that your lender could be pursuing you five years later, after you get back on your feet.

There is an application process. You will have to spend between 5 and 10 hours submitting paperwork to your lender before they will approve the deed-in-lieu. Yes, I think it's crazy! Why should you have to submit paperwork to make it easier for your lender to foreclose on your house? Doesn't make any sense. That is why I recommend a short sale instead of a deed-in-lieu. You get to avoid the humiliation of a Foreclosure. In addition, most short sales allow you to stay in the home rent free for 3-6 months. And you can get up to $3,000 from HAFA. That will help cover the cost to move and maybe even cover the deposit on a rental property. The other advantage with a short sale is that you will be able to buy another home sooner. Because a deed-in-lieu acts as a Foreclosure, you will not be eligible for a new mortgage for 5-7 years. With a short sale, you can be eligible to buy another house in 2 years.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny.

Send me an e-mail at wesell@teamsordelet.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 302-476-2057.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Delaware Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this,

David Sordelet

David is a Real Estate Agent at Prudential Fox & Roach Realtors. Phone: 302-476-2057. wesell@teamsordelet.com. Where Results Are Key View My homes for sale at http://www.teamsordelet.com. David Sordelet specializes in loan modification assistance and short sales in New Castle Delaware. New Castle Loan Modification Help, New Castle Short Sales, New Castle Short Sale Realtor Short Sale Realtor. New Castle DE Short Sales. New Castle Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Sordelet's personal views and do not reflect the views of Prudential Fox & Roach Realtors. This information on Gainesville Short Sales: Deed-In-Lieu of Foreclosure or Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Add Comment

Economic Reprt, a Mix of Tricks & Treats

Monday, October 25, 2010
by The Team Sordelet Realty Group
   
 
 
 
 
I am forwarding you this information that has been provided to me by Jason Infanti of Trident Mortgage.  Look this over, if you have any questions, please give me a call.  302-476-2057  you can also email at wesell@teamsordelet.com or you can visit our web site http://www.teamsordelet.com
For the week of Oct 25, 2010 --- Vol. 8, Issue 43
  
  In This Issue  
     
 

Last Week in Review: The positive and negative mix of economic news continues to brew and boil... what’s happening with home loan rates?

Forecast for the Week: More news on the housing market is in store - and Stock earnings season continues too – all in advance of the Fed’s important upcoming meeting.

View: Halloween candy may be a treat, but an attack on your PC sure isn’t. The cyber-tricksters are out in full force, so check out the View article below for some important information.

  
 
  Last Week in Review  
     
 

"DOUBLE, DOUBLE TOIL AND TROUBLE; FIRE BURN AND CAULDRON BUBBLE..." No, the witches from Shakespeare’s "Macbeth" weren’t talking about the economy or the labor market – but economic reports of late are indeed swirling about as if in a cauldron, with a potent mix of both tricks and treats. One report will show improvement for the economy, while another tells a more negative tale. So what news came about this week, and what impact did it have on home loan rates?

Last week, there was reasonably good news on the housing front, as Housing Starts for September were up 0.3%, to a seasonally adjusted 610,000 unit pace, which was higher than expectations of 579,000. The good news is that this represents the third consecutive month of expansion and actually the highest level of Housing Starts since April.

Yet, while this is an encouraging sign and does suggest some stabilization in housing, we can't break out the party hats just yet. The improvement in Housing Starts is coming off of very depressed levels... and additionally, Building Permits, which are a sign of future construction, came in at 539,000, which was below expectations and also the lowest level we’ve seen in more than a year. The bottom line for housing is that people need to gain back real confidence and security about their job and economic prospects before we'll see a marked turn around.

Speaking of that important job market, last week’s Initial Jobless Claims were 452,000 – and Jobless Claims have been stuck near that 450,000 mark for a long time - and there will be no meaningful decrease in the Unemployment Rate until Initial Jobless Claims reach and start moving below the 400,000 level. Overall, we still have 8.5 million people collecting some sort of unemployment benefits, so we’ve still got a ways to go before we’re out of the woods.

Reports on housing, manufacturing, jobs, and inflation are a big part of what will guide the Fed’s ultimate decision regarding the next round of Quantitative Easing (QE2), and a formal announcement is expected during the Fed’s next meeting of the Federal Open Market Committee on November 3rd. Remember that QE is the concept of the Fed becoming a buyer of Treasuries and Bonds, in a bid to keep interest rates low and therefore stimulate the economy. It’s important to note that QE may also devalue the Dollar, and boost our economy through making our exports relatively cheaper for foreign buyers. And this is not a bad thing, but we have to be aware that while more QE might provide an initial decline for home loan rates, the devaluation of the Dollar will ultimately drive rates higher. I will be watching this situation closely in the weeks ahead.

Meanwhile, last week’s news caused both ups and downs for Bonds and home loan rates, and they ultimately ended the week about the same as where they began. If you – or a client, friend, family member, neighbor, coworker – would like to learn more about taking advantage of historically low home loan rates, please don’t hesitate to call or email me. It would be an honor to provide a free consultation for you or any of your contacts.

HALLOWEEN MAY BE A BIT SPOOKY…BUT A CYBER ATTACK ON YOUR COMPUTER IS DOWNRIGHT GHOULISH! CHECK OUT THE MORTGAGE MARKET GUIDE VIEW FOR SOME SIMPLE STEPS TO HELP KEEP YOUR DATA SAFE.

  
 
  Forecast for the Week  
     
 

More housing news is in store this week, with both Monday’s Existing Home Sales Report and Wednesday’s New Home Sales Report. But whether these reports will show a move forward or backwards in the housing arena remains to be seen. Again, a marked improvement in the labor market will be necessary in order to see a marked improvement in housing nationwide.

Also, we'll get a read on the health of the economy with Wednesday’s Durable Goods Report, which gives us an update on consumer and business buying behavior on big-ticket items that are designed to last for an extended period of time, like furniture, televisions, appliances, sporting equipment, vehicles, copy machines... all manner of things. It’s an interesting report, as people tend to hold back on these types of purchases when they are feeling a need to be extra conservative with their finances, or feel insecure about their employment. Meanwhile, Friday will bring another read on the economy with the Gross Domestic Product Report, which is the broadest measure of economic activity.

And not to be missed is the Initial and Continuing Jobless Claims Report on Thursday, as well as earnings reports from Proctor & Gamble, 3M, Exxon Mobile and more.

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.

As you can see in the chart below, Bonds and home loan rates moved up and down due to movement in the Stock market and other economic news. I’ll be watching closely to see what happens this week.


-----------------------

Chart: Fannie Mae 3.5% Mortgage Bond (Friday, October 22, 2010)

  
 
  The Mortgage Market Guide View...  
     
 

October is National Cyber Security Awareness Month: 7 Simple Steps You Can Implement Right Now

People do just about everything on their computers – from balancing their family budgets and managing business expenses to storing personal information of friends and family members, such as names, addresses, dates of birth, and maybe even passwords that are hard to remember.

Unfortunately, all of that information is at risk... every day. That’s because there are more and more viruses and malicious software programs being developed and circulated. There’s no way to 100% guarantee that your data and sensitive information is secure, but there are some simple steps you can take to help prevent a cyber attack from happening to you.

1. Lock your computer. Most people wouldn’t leave home with their doors unlocked, but they walk away from an unlocked computer all the time. To help make sure that someone else can’t tap into your computer when you step out of your office, make sure you set up a password and lock it before you walk away. Even if you’re only gone for a few minutes, make sure you take this simple measure.

2. Go offline. Internet is so inexpensive and easy today that many people feel that it’s easier to leave their computer connected rather than sign off and on constantly. However, experts say that your chances of being attacked by a virus or malicious piece of software are greater if your computer is always connected to the Internet. So it’s a good idea to disable your Internet connection when you aren’t using it. That may mean unplugging a cable or simply turning off your wireless connection. Either way, it only takes a moment to make sure you remove the ability for attackers to access your computer.

3. Stay up to date. When software developers become aware of possible security breaches, they typically act quickly to fix the problem and make a new release available to help keep their customers safe. So, make sure you keep your browser up to date with all patches and new releases.

4. Strengthen your passwords. Most people have multiple passwords – so many that it can be tempting to choose simple passwords or use the same password for all of your accounts. But that can pose a big risk. To make sure your info is protected, create strong passwords that are tough to break.

5. Use a firewall. According to recent research, the biggest gap in home computer security is the lack of firewalls. A firewall is exactly what it sounds like – a wall or barrier that controls access to your computer... and your data! Firewalls may be built into some of your software or your operating system. So most people don’t even need to take extra steps to purchase or install a firewall.. they just need to turn them on. Take a moment and make sure you have a firewall not only installed but also activated.

6. Use an anti-virus program. Just because you have a firewall, doesn’t mean you’re safe from viruses that can damage your computer or steal data. In addition to being cautious about what you download from emails or websites, make sure you have an anti-virus program and that it’s up to date.

7. Talk to kids. Adults may be skeptical, but children are often trusting. Before they’re allowed to go online, make sure they understand about the risks of malicious programs and online communication. The website StaySafeOnline.org uses this analogy: "We don’t teach children to drive by giving them the keys to the car and expecting them to be ‘self-taught.’ Similarly, we shouldn’t let them sit down at the computer and surf away without training and supervision." So make sure that children are educated and prepared – and that they have a co-pilot when they take a spin on the family computer.

To learn more about cyber safety and simple tips you can do, visit http://www.staysafeonline.org.


--------------------------

Economic Calendar for the Week of October 25-29, 2010

Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.


Economic Calendar for the Week of October 25 - October 29

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. October 25
10:00
 Existing Home Sales
Sept
4.25M
 
4.13M
Moderate
Tue. October 26
10:00
 Consumer Confidence
Oct
49.5
 
48.5
Moderate
Wed. October 27
08:30
 Durable Goods Orders
Sept
0.8%
 
-1.3%
Moderate
Wed. October 27
10:00
 New Home Sales
Sept
297K
 
288K
Moderate
Thu. October 28
08:30
 Jobless Claims (Initial)
10/23
455K
 
452K
Moderate
Fri. October 29
08:30
 Gross Domestic Product (GDP)
Q3
2.0%
 
1.7%
Moderate
Fri. October 29
08:30
 GDP Chain Deflator
Q3
2.0%
 
1.9%
Moderate
Fri. October 29
08:30
 Employment Cost Index (ECI)
Q3
0.5%
 
0.5%
HIGH
Fri. October 29
09:45
 Chicago PMI
Oct
57.5
 
60.40
HIGH
 
 
 

The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is not without errors.

As your trusted advisor, I am sending you the The Trident Group newsletter because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.

The Trident Group is the copyright owner or licensee of the content and/or information in this email, unless otherwise indicated. The Trident Group does not grant to you a license to any content, features or materials in this email. You may not distribute, download, or save a copy of any of the content or screens except as otherwise provided in our Terms and Conditions of Membership, for any purpose.
Add Comment

Delaware Short Sales: Experience can get the job done!

Monday, October 25, 2010
by The Team Sordelet Realty Group

Delaware -

We recently talked to another agent about her short sale listing. (Some of the details have been changed to hide their identity) She had been working on this short sale for 6-8 months with no success. The original buyer offered 265k for the house.

Discover how other sellers successfully did a short sale and request a free consultation by clicking here.

The short sale lenders rejected the offer. The house ended up selling eight months later for 220k.

Why did the short sale lenders reject the 265k offer, only to later on accept an offer for 45k less?

Because the person negotiating with the short sale lenders didn't know what they were doing.

Here's what happened:

The first mortgage was owed $289,000. The 2nd was Bank of America, owed 60k. She submitted the 265k short sale offer to both mortgages holders. The first mortgage gives her an approval in a month. Bank of America never gave her an answer. Here is the problem. Bank of America has no incentive to put time into this short sale file. Why? Because they are only getting $1,000. In a short sale, most 2nds will get a minimum of $3,000, and often 10% of whatever they are owed. The first mortgage was greedy and wouldn't offer enough money to Bank of America. As a result, they lost $40,000. Was that a smart business decision? No. That's a big loss for the short sale lender. To be honest, I would be embarrassed if I was that banker.

Here is what this agent should have done:

She should have convinced the first mortgage to give Bank of America $3,000 to $7,000. Bank of America would have accepted the offer with more money. Instead, the agent had to negotiate the short sale all over again. Not only that, but her sellers risk a bigger deficiency note. This first mortgage was one of the few mortgage companies not willing to release the deficiency.

Are you thinking about a short sale? I can help you "short sale" your property and never pay the bank another penny!

Send me an e-mail at wesell@teamsordelet.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 302-476-2057.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Delaware Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this,

David Sordelet

David is a Real Estate Agent at Prudential Fox & Roach Realtors.

Phone: 302-476-2057. wesell@teamsordelet.com.

Where Results Are Key

View Our homes for sale at: http://www.teamsordelet.com.

David Sordelet specializes in loan modification assistance and short sales in New Castle Delaware. New Castle Loan Modification Help, New Castle Short Sales, New Castle Short Sale Realtor Short Sale Realtor. New Castle DE Short Sales. New Castle Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Sordelet's personal views and do not reflect the views of Prudential Fox & Roach Realtors. This information on why did this short sale fail is provided as a courtesy to our viewers to help them make informed decisions.

Add Comment

Why do some short sales succeed when others don't

Friday, October 22, 2010
by The Team Sordelet Realty Group

Delaware -

Short Sales can be frustrating. Ask anyone who has negotiated a short sale with a lender and they will tell you the process is tough.

Here is a story that illustrates this point:

Discover how other sellers successfully did a short sale and request a free consultation by clicking here.

You are negotiating a short sale with a lender. You call in and talk to a someone in a call center overseas. They are very helpful and give you the fax number for the short sale paperwork. You fax the short sale package. A few day later you call in to follow up. (Most lenders systems take a few days to process the paperwork.) They tell you that they have no record of having received your paperwork. "That's pathetic", you tell them. "I sent it to this fax number. Can you confirm that is the right one?" "No, that is not the correct fax number", they tell you. "Here is the correct fax number." This is why simple follow up is so important if you want a chance at a successful short sale. Small mistakes like this happen all the time. Let's say an agent is not familiar with the process. Do you think they will become frustrated after experiencing all the mistakes compounded together? I think so. To have the best chance at success your agent needs to follow up on the short sale twice a week. Most agents don't do this. As a result, they aren't successful at short sales. That's why you hear them say the following. “I hate short sales. They are so frustrating. They take forever. Most of mine have dragged out for 9-12 months. The short sale lenders are so tough to work with.” Why can't these agents follow up on their short sale file twice a week? Because they don't specialize in short sales. Your short sale is just one of eight other things they are working on.

A buyer comes to town for a week to buy a home. The agent is busy driving them all over town that week. They don't have time to follow up on your file. They are burned out next week and take a few days off. They get back to work on Wednesday. Wednesday thru Friday are consumed with catching up on everything else. They have to call back three other sellers, show homes to another buyer, and follow up on their closings. They don't follow up on your file until the next week. What chance does your short sale have? Everyone knows focus is the key to success. I have chosen to focus on short sales. Because of this, my short sale sellers know that I will handle their file properly.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at wesell@teamsordelet.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 302-476-2057. Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Delaware Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this,

David Sordelet

David is a Real Estate Agent at Prudential Fox & Roach Realtors.

Phone: 302-476-2057.

Email: wesell@teamsordelet.com.

The Team Sordelet Realty Group: Where Results Are Key!

View My homes for sale at http://www.teamsordelet.com.

David Sordelet specializes in loan modification assistance and short sales in New Castle Delaware. New Castle Loan Modification Help, New Castle Short Sales, New Castle Short Sale Realtor Short Sale Realtor. New Castle DE Short Sales. New Castle Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Sordelet's personal views and do not reflect the views of Prudential Fox & Roach Realtors. This information on why do some short sales succeed when others don't is provided as a courtesy to our viewers to help them make informed decisions.

Add Comment

How To Negotiate A Wells Fargo Short Sale

Thursday, October 21, 2010
by The Team Sordelet Realty Group

 

Wells Fargo is one of the largest lenders in the US. They are the second biggest short sale lender we work with. The Wells Fargo Loss Mitigation Department is much better to work with than other lender's loss mitigation departments. Discover how other sellers successfully did a short sale and request a free consultation by clicking here. Wells Fargo has two loss mitigation departments. One is located in Fort Mill, South Carolina. The other is located in Milwaukee, Wisconsin.

Here is what we do to negotiate a short sale with Wells Fargo:

To start a short sale with Wells Fargo, we first call 1-877-216-8448. We ask the representative what the short sale fax number is. That is where we fax the entire short sale package. In my experience, these phone and fax numbers are often changed with little notice. That is why I call to check. The current fax number to send paperwork to is 1-866-969-0103. That has been the correct number for a long time. In addition I will need authorization from you to speak to your lender, on your behalf. You fill out and sign a form giving me that authorization. I will fax that to Wells Fargo's Authorization Fax. That number is 1-866-917-1877. Once the short sale is approved by the owner of the loan, then Wells Fargo will want all parties to sign Wells Fargo's Specific Addendums. They are the following:

Arms Length Addendum: This simply states that there is no funny business going on and this is a normal "Arms Length" sale. In other words, you aren't selling the home to your best friend for a low price, or anything similar to that.

Closing Date Extension Addendum: They want the buyer to sign this and agree to close within 30 days of the short sale approval.

Listing Addendum: This is an addendum they want the seller and the listing agent to sign. It gives Wells Fargo a little more protection on the short sale.

Contract Addendum: This is another addendum they want the buyer and the seller to sign. It simply lays out how a Wells Fargo Short Sale works for the buyer and the buyer agrees to those terms by signing the addendum.

ARE YOU THINKING ABOUT A SHORT SALE? I can help you short sale your property and never pay the bank another penny!

Send me an e-mail at wesell@teamsordelet.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 302-476-2057.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our DELAWARE Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this,

David Sordelet

David is a Real Estate Agent at Prudential Fox & Roach Realtors. Phone: 302-476-2057. wesell@teamsordelet.com.

Where Results Are Key!

View My homes for sale at http://www.teamsordelet.com.   You can also view our other websites:  For Buyers: http://www.mydelwarehomesearch.com and for those looking to sell: http://www.sellmydelawarehome.com

David Sordelet specializes in loan modification assistance and short sales in Delaware.  Delaware Loan Modification Help, New Castle Short Sales, New Castle Short Sale Realtor Short Sale Realtor. New Castle DE Short Sales. New Castle Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Sordelet's personal views and do not reflect the views of Prudential Fox & Roach Realtors. This information on How To Negotiate A Wells Fargo Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Add Comment

What to do when your lender won't reduce your principle on a loan modification

Wednesday, October 20, 2010
by The Team Sordelet Realty Group

 

Some homeowners have watched the value of their home be cut by 30-50%. They paid 700k for a house that is now worth 400k. They want a principle reduction, but the lender won't agree to it. Discover how other sellers successfully did a short sale and request a free consultation by clicking here. So they keep on insisting for one. Lenders will drop your interest rate to 2% for five years. But, they are very reluctant to grant principle reductions. Here is why. They are forced to take huge write off on their books when they give you a principle reduction.

No, this is not a "tax" write off!

If they give you a 300k principle reduction, they have to take that directly off that year's earnings.

That hurts earnings, which hurts the stock price, which hurts the likelihood of the people at the top getting bonuses. This makes principle reductions so rare.

Instead, they like to reduce your payment down to the equivalent of a 400k principle amount. How? By dropping the interest rate to 2%. The lower interest reduces your payment down as much as a principle reductions would have done. The banks hope that you can limp along for five years until the economy recovers. Hopefully by then housing prices will recover, or you will be able to afford the higher payment after the interest rate reset.

But, many experts do not think the housing market will recover in 5 years, much less 10 years.

This is why I recommend a short sale and renting to anyone who is upside down by 30%. Now, you may be saying, "Of course you do recommend that. You get more sales that way."

Sure, I like more sales. But, if that was true, then why would I give away free loan modifications kits to homeowners in Foreclosure? I would hope that they would be forced to short sale with me. (Click here to request a copy of our Delaware Loan Modification Kit that has the instructions you will need to get a loan modification approved with your bank.)

I believe that most loan modification are a temporary band-aid that doesn't solve the underlying problem.

Most people that short sale are already suffering and their credit has been hurt by a pending Foreclosure. What if they accept the loan mod offer and can't afford the payment reset in 5 years? They may have to stop paying, hurt their credit again, and apply for another loan modification. Why not wipe out the upside down debt while your credit is already damaged? Agree? Disagree? Please put your comments in the comments section below.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at wesell@teamsordelet.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 302-476-2057.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Delaware Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this,

David Sordelet

David & Iris Sordelet are Real Estate Agents at Prudential Fox & Roach Realtors. Phone: 302-476-2057.  email: wesell@teamsordelet.com.

Where Results Are Key!

View our homes for sale at http://www.teamsordelet.com. You can also check out our other websites: http://www.sellmydelawarehome.com & http://www.mydelawarehomesearch.com

David & Iris Sordelet specializes in loan modification assistance and short sales in Delaware. Delaware Loan Modification Help, New Castle Short Sales, New Castle Short Sale Realtor Short Sale Realtor. New Castle DE Short Sales. New Castle Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Sordelet's personal views and do not reflect the views of Prudential Fox & Roach Realtors. This information on What to do when your lender won't reduce your principle on a loan modification is provided as a courtesy to our viewers to help them make informed decisions.

Add Comment

Are You A Casualty Of The Terrible Loan Modification Process?

Tuesday, October 19, 2010
by The Team Sordelet Realty Group

New Castle DE -

I recently saw an amusing video about loan modifications. In it the guy called Wells Fargo "Hells Fargo." Apparently it is tough to get a loan modification. They lose your paperwork. You have to talk to people in other countries where English IS NOT their first language. The people at the lenders treat you like dirt.

Discover how other sellers successfully did a short sale and request a free consultation by clicking here.

In addition, they pretend to love their customers. While you are waiting on hold for two hours to talk to someone, you get to hear the recording, "We at ABC Lending love our customers. We want to provide the best customer service in order to earn your business." If you have experienced this, then you know how frustrating it is. But, why go thru the whole experience? Is it really worth the stress? I don't think so. Most loan modification do not reduce your payment. Some do, but the reduction usually doesn't reduce the payment near the fair market rent.

As a result, many homeowners limp along with a loan modification they can barely afford. Little do they realize that they could go rent a similar home for less money. Here is one example of this. A homeowner gets a loan modification from her lender. She borrows money from family for the upfront payment. Then, she suffers for a year while she pays a payment that is more than she can afford. She has to work extra hours and some night shifts. Money is so tight she can barely afford to pay for food. Little does she know that she could rent a similar house for 30% less per month. I see this story happen more often than not. People don't realize how competitive the rental market is today. They also don't know how much better off they will be mentally.

If you are experiencing a loan modification horror story, then stop. Take a look around. You do have options. There may be another home you and your family can rent. Then you can short sale, wipe out the upside down debt, and move on with your life. Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at wesell@teamsordelet.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 302-476-2057. Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our New Castle Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, David Sordelet. David is a Real Estate Agent at Prudential Fox & Roach Realtors. Phone: 302-476-2057. wesell@teamsordelet.com.

Where Results Are Key

View My homes for sale at http://www.teamsordelet.com.

Check out our other websites:  www.sellmydelawarehome.com & www.mydelawarehomesearch.com

David Sordelet specializes in loan modification assistance and short sales in New Castle Delaware. New Castle Loan Modification Help, New Castle Short Sales, New Castle Short Sale Realtor Short Sale Realtor. New Castle DE Short Sales. New Castle Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Sordelet's personal views and do not reflect the views of Prudential Fox & Roach Realtors. This information on New Castle Short Sales: How Do I Get Back On My Feet After A Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Add Comment

How Do I Get Back On My Feet After A Short Sale?

Monday, October 18, 2010
by The Team Sordelet Realty Group


It is very stressful to be upside down and facing Foreclosure. You are worrying about everything. You find yourself thinking, "When is the bank going to kick me out?

"How will I pay back that huge debt?" "When will I ever be able to stop worrying about money?"

"I remember when I did not worry about money. How did I do that?" All those thoughts and more run through your head.

www.stopforeclosurenewcastle.info.  Discover how other sellers successfully did a short sale and request a free consultation by clicking here.  A short sale helps you stop worrying. Most people find a place to rent where they can afford the monthly payment. Or they move in with family. It removes all the uncertainty and worry about when they have to move. They are one step closer to sanity!

They are happy to discover that a short sale erases the debt, at least in most cases. They were thinking about how hard it was going to be to pay back the $100,000 the bank lost. Now they don't have to worry about that anymore.

They are able to do better at work. Why? Because they aren't stressed out at home anymore. They often get a raise or find a way to make extra money on the side.

After several months, they discover they are no longer worrying about money. They have their life back. The fights over money stop. They have grown accustomed to their new life.

Best of all they start enjoying life again. They realize that money isn't everything. What's more important is their life and family. Sure the family had problems during the hard time.

But, they are still together after it all. And the hard times have caused them to realize that it wasn't such a big deal. They can repair their credit and buy another house in the future. More importantly they can enjoy their life together as a family.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at WeSell@TeamSordelet.com I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 302-476-2057.

Discover how other sellers successfully completed a short sale and request a free consultation by http://stopforeclosurenewcastle.info/short-sale.html  . Thinking about a loan modification? Our New Castle Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender.  http://stopforeclosurenewcastle.info/loan-modification-secrets.html

Thanks for reading this,

David Sordelet.

David is a Real Estate Agent at Prudential Fox & Roach Realtors.

Phone: 302-476-2057  Email: WeSell@TeamSordelet.com
Where Results Are Key

View My homes for sale at <a href="http://http://www.teamsordelet.com">http://www.teamsordelet.com</a>.

David Sordelet specializes in loan modification assistance and short sales in New Castle County Delaware. New Castle Loan Modification Help, New Castle Short Sales, New Castle Short Sale Realtor Short Sale Realtor. New Castle DE Short Sales. New Castle Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Sordelet's personal views and do not reflect the views of Prudential Fox & Roach Realtors.  This information on New Castle Short Sales: How Do I Get Back On My Feet After A Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Add Comment

Dog Days of Summer

Tuesday, August 10, 2010
by The Team Sordelet Realty Group

As the Summer vacations begin to wind down and school is getting ready to start, what is happening to our real estate market?

In Delaware, we are getting ready for the next heat wave.  I thought we were in one this past week.  I guess I was wrong.  With the temps heating up, our real estate market - not as much!

With the expiration of the home buyers tax credit, the market excitement has wound down.  Why?  for starters, we borrowed buyers from the months of May, June, July and August - those buyers were under contract by the end of April.  Second of all is the mortgage market.  Have you ever pulled teeth from a hungry alligator?  With all of the regulation changes and the banks being "extra careful", even the most qualified of buyers are having to jump through hoops, many of them, to get their mortgage.  (I think the new definition of Mortgage Underwriter is: One who's job is to do whatever possible, to reject the application, so the bank does not have to lend money!) 

Even though interest rates are crazy low and housing prices are also way down,  the buyers are not knocking down the door to get in! 

For those buyers and sellers that are ready to get into this market, NOW MORE THAN EVER, you need an agent with the experience, knowledge and know how!  You need an agent that will work harder than ever to get your home sold and your purchase to the table.  More than ever before, an agent needs to be involved in every aspect of the transaction.  Keeping on top of the lender, buyer or seller, other agent and the home inspection.

I believe that it is safe to say "DEALS HAVE FALLEN APART, BUYERS HAVE LOST DEPOSITS AND SELLERS HAVE NOT BEEN ABLE TO CLOSE BECAUSE THE AGENT OR AGENTS INVOLVED IN THE TRANSACTION DO NOT HAVE THE NECESSARY EXPERIENCE or DRIVE TO GET THE JOB DONE!"

When you are ready to buy or sell, you need an EXPERT!  Do your research and choose your agent wisely!

For professional, knowledgeable, educated and reliable real estate service-Call or Email The Team Sordelet Realty Group.  www.teamsordelet.com  302-476-2057

 

Add Comment

WHERE ARE THE BUYERS??

Friday, May 07, 2010
by The Team Sordelet Realty Group

Well, the deadline has come and gone for those buyers wishing to take advantage of the tax credit.  Yes, you are correct, the buyers have to close on their purchase by June 30, 2010.

One of the biggest questions that I hear "Are they going to extend the tax credit?"  I don't know the answer to that question.  I would think that the government is going to use the home sale numbers to show how GREAT the economy is.  Of course the numbers are going to be great!  Every buyer that was going to buy this year and was in a position to get under contract and close by June 30....they are buying a house now!

What does that mean for the next couple of months?  What does it mean if you want to buy a home now?  What does it mean if I want to sell my home now?

Well,  even though we borrowed buyers from May, June, July and the rest of the year, there will still be some buyers.  Yes your house can still sell, just remember that the buyer of today is looking for THE BEST HOUSE IN THE BEST  CONDTION AT THE BEST PRICE!!!!!

So, if you are still thinking of selling, values have not increased!  Days on market may be a little bit higher and the buyers want it all.  The best advice I can give to a seller right now:  Price and Condition are everything and if your home is in bad shape or your location is terrible PRICE PRICE PRICE!  The buyers that could not take advantage of the tax credit are expecting to make it up in being able to buy a lower priced home.  (Keep that in mind)

Why do I say that?  There are lots of homes that did not sell in that mad rush last week of April!  One of those sellers is now desperate and willing to do whatever it takes to get their home sold!  They may even be willing to "Reduce their price to reflect a discount equal to or greater than the tax credit"!

Buyers think that they are in the drivers seat now more than ever!

What do you think?

Add Comment

Displaying blog entries 161-170 of 184

Contact Information

Photo of The Team Sordelet Realty Group Real Estate
The Team Sordelet Realty Group
Prudential Fox & Roach Realtors
1126 Pulaski Highway
Bear DE 19701
Direct: 302.476.2057
Office: 302.836.2888
Fax: 302.295.9962
Send an Email