New Castle County, DE – 

Despite the fact that the Cooperative short sale may help the borrower leave the home without some of the negative aspects of a Foreclosure, it has its drawbacks that you may need to consider before you decide to explore this option. Below are some of the drawbacks:

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Deed in Lieu. In the event that your home does not sell, then the program stipulates that the next step is a deed-in-lieu of Foreclosure. This affects your credit just like a foreclosure does. We do not see why you couldn't refuse the deed-in-lieu at that stage and attempt another short sale. Or, at least live "rent free" until the bank forecloses.

Second Lender / Mortgage Insurance Refusal to Participate. If you have two loans on a short sale, then you will always need the approval of the second lender to participate. If the second lender does not agree to the first mortgage's offer, then they might refuse to approve the short sale. Moreover, if the loan has mortgage insurance, the Mortgage Insurance company will need to approve the sale as well.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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 and answer any questions you may have.

Or, if you prefer, 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 County loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Click here to request a copy.

Thanks for reading this, David Sordelet.

David Sordelet

David is a Real Estate Consultant with The Team Sordelet Realty Group 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 take a look at the other services that we offer:               http://www.sellmydelawarehome.com                           http://www.mydelawarehomesearch.com                             http://www.stopdelawareforeclosure.com                       http://www.delawareshortsalerealtor.com                                       http://www.teamsordelet.com/Market-Snapshot                                      

You can also search every house for sale in our market place by clicking on this link:      http://www.teamsordelet.idxco.com/idx/4618/basicSearch.php 

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. Delaware Short Sale, Delaware Loan Modification, Selling Real Estate, First Time Home Buyers, Delaware Real Estate Expert, Short Sale Specialist, 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 David Sordelet's personal views and do not reflect the views of Prudential or Prudential Fox & Roach Realtors. 

David Sordelet, Prudential Fox & Roach Realtors, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?  Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding Foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.  You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

New Castle County, DE –

A cooperative short sale may be a good option depending on your situation. But, you need to remember that Banks are not in the business of making life easier for its customers, much less anyone trying a short sale.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Banks are in business to turn a profits !

The main reason Bank of America has initiated the Cooperative Short Sale is to increase the bank's bottom line profit. They increase their profit whenever they cut losses on loans that are in default.

The bank faced several problems:

1. They have a bad reputation for taking too long to process short sales and loan modifications.

2. Due to the length of time to buy a short sale, buyers are making lowball offers.

3. Many agents are in experienced on short sales and unsure of what to do. As a result, many agents were in the dark on where to price a short sale property.

Before listing the property, Bank of America will provide the terms such as the list price and deficiency judgments. In doing so, the bank is able to provide a shorter decision time once an offer is received. In fact, Bank of America claims that once an offer is received, they will provide a decision in 10 days!

This simply means that Buyers will be less frustrated with the purchase process and more willing to wait for it to be completed. With a traditional short sale many Buyers get frustrated and walk before a response is received on the short sale.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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 and answer any questions you may have.

Or, if you prefer, 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 County loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Click here to request a copy.

Thanks for reading this, David Sordelet.

David Sordelet

David is a Real Estate Consultant with The Team Sordelet Realty Group 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 take a look at the other services that we offer:               http://www.sellmydelawarehome.com                           http://www.mydelawarehomesearch.com                             http://www.stopdelawareforeclosure.com                       http://www.delawareshortsalerealtor.com                                       http://www.teamsordelet.com/Market-Snapshot                                      

You can also search every house for sale in our market place by clicking on this link:      http://www.teamsordelet.idxco.com/idx/4618/basicSearch.php 

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. Delaware Short Sale, Delaware Loan Modification, Selling Real Estate, First Time Home Buyers, Delaware Real Estate Expert, Short Sale Specialist, 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 David Sordelet's personal views and do not reflect the views of Prudential or Prudential Fox & Roach Realtors. 

David Sordelet, Prudential Fox & Roach Realtors, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?  Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding Foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.  You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

New Castle County, DE –

Bank of America is rolling out a new short sale program that will provide the quickest route to a short sale decision. The bank came up with this programs to help ensure that homeowners are able to explore all their options and avoid Foreclosure.

This program, named the Bank of America Cooperative Short Sale Program, minimizes the challenges of traditional short sales - such as having to wait up to 60 days for a representative to even be assigned to your sale.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

A cooperative short sale starts with a phone call from the homeowner to the bank. The homeowner explains to the bank that he or she has suffered a hardship, and will no longer be able to make the mortgage payments. The Banker and the homeowner will probably discuss a loan modification. In fact, this may be a pre-requisite to entering into a cooperative short sale.

Once the bank has determined that a loan modification is not a viable option, and after documents have been presented to the bank that show the home owner's hardship, then the bank is not left with any good options then the cooperative short sale.

The next step in the process is for the Bank to order an appraisal. The property is then listed with a Realtor at the appraised value of the house, and the Bank agrees to sell the property at the appraised price. Buyers can get an answer on their offers within only a day or two, not the 3-6 months a traditional short sale takes. This is because the short sale is pre-approved. The Bank also understands that the appraisal may have come in high, and if the property doesn't sell in 21 days, the price gets lowered every 21 days until an offer comes in. We think this is a great new program that will make short sales much easier for everyone involved.

This sounds great!  As with just about anything banks are doing with short sales, lets see how this GREAT IDEA works out!

Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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 and answer any questions you may have.

Or, if you prefer, 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 County loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Click here to request a copy.

Thanks for reading this, David Sordelet.

David Sordelet

David is a Real Estate Consultant with The Team Sordelet Realty Group 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 take a look at the other services that we offer:               http://www.sellmydelawarehome.com                           http://www.mydelawarehomesearch.com                             http://www.stopdelawareforeclosure.com                       http://www.delawareshortsalerealtor.com                                       http://www.teamsordelet.com/Market-Snapshot                                      

You can also search every house for sale in our market place by clicking on this link:      http://www.teamsordelet.idxco.com/idx/4618/basicSearch.php 

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. Delaware Short Sale, Delaware Loan Modification, Selling Real Estate, First Time Home Buyers, Delaware Real Estate Expert, Short Sale Specialist, 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 David Sordelet's personal views and do not reflect the views of Prudential or Prudential Fox & Roach Realtors. 

David Sordelet, Prudential Fox & Roach Realtors, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?  Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding Foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.  You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

New Castle County, DE –

Homeowners who would prefer to get out from underwater may prefer to do a short sale compared to a loan modification.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

A short sale means the bank will accept a reduced payoff and release the loan.

If your home is worth dramatically less than the amount owed, it might make more sense to do a short sale and be relieved of the burdened debt. 

Loan Modifications are changes to your loan agreement. 

Your payments get more affordable, but your loan balance is not reduced in any way. In fact, many loan modifications will adjust your payment back up after 3-5 years.

Here are other factors to consider: 

1. After 2 to 3 years of maintaining credit, if prices remain stable, homeowners may qualify to buy another home with a mortgage and a payment that is affordable.

2. Both a loan modification and a short sale may affect credit. But either solution is generally better than a Foreclosure.

3. Most of the short sale listings I sell in my area involve sellers who were denied a loan modification. I can help you make a decision on what option to take based on your current situation.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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 and answer any questions you may have.

Or, if you prefer, 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 County loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Click here to request a copy.

Thanks for reading this, David Sordelet.

David Sordelet

David is a Real Estate Consultant with The Team Sordelet Realty Group 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 take a look at the other services that we offer:               http://www.sellmydelawarehome.com                           http://www.mydelawarehomesearch.com                             http://www.stopdelawareforeclosure.com                       http://www.delawareshortsalerealtor.com                                       http://www.teamsordelet.com/Market-Snapshot                                      

You can also search every house for sale in our market place by clicking on this link:      http://www.teamsordelet.idxco.com/idx/4618/basicSearch.php 

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. Delaware Short Sale, Delaware Loan Modification, Selling Real Estate, First Time Home Buyers, Delaware Real Estate Expert, Short Sale Specialist, 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 David Sordelet's personal views and do not reflect the views of Prudential or Prudential Fox & Roach Realtors. 

David Sordelet, Prudential Fox & Roach Realtors, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?  Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding Foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.  You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

Just a quick update on the Bank of America issue concerning a closing that is scheduled to close today (1/30/12).

With no luck on Friday 1/27, after learning that our negotiator is missing!  No luck with the Twitter Teams assistance and no luck on Saturday with the customer service rep.

http://www.teamsordelet.com/Blog/Bank-of-America-Friend-or-Foe-Time-Will-Tell

I did have some luck today!  We have not closed yet, but I am very confident that we will be closing on time, thanks to Annette in the Florida short sale office that works on FHA loans.

I was able to get a slew of numbers for that department on Saturday and started making calls first thing this morning.  Lucky me, Annette picked up the phone and listened to my problems and concerns.  She listened, put me on hold while she looked at the file and, without complaint, got right to work on the file.

As it turns out, some of the same things that we were requested to provide today had already been provided to the previous negotiator, SCOTT.  I guess he stopped working on the file 1/17/12.

I will reserve judgment at this time on Scott's supervisor Fred and the person that was to be filling in for him. (Still waiting to hear from him) and still waiting for BofA_Help at Twitter.

There is hope for Bank of America, as of right now, I do not need to hear from them.  I will update you when it closes.  I know that the short sale departments are busting with overload.  I also realize that it would be very easy to turn a blind eye to someone else files.  That was not the case with Annette today.

Thank You Annette!

Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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 and answer any questions you may have.

Or, if you prefer, 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 County loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Click here to request a copy.

Thanks for reading this, David Sordelet.

David Sordelet

David is a Real Estate Consultant with The Team Sordelet Realty Group 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 take a look at the other services that we offer:               http://www.sellmydelawarehome.com                           http://www.mydelawarehomesearch.com                             http://www.stopdelawareforeclosure.com                       http://www.delawareshortsalerealtor.com                                       http://www.teamsordelet.com/Market-Snapshot                                      

You can also search every house for sale in our market place by clicking on this link:      http://www.teamsordelet.idxco.com/idx/4618/basicSearch.php 

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. Delaware Short Sale, Delaware Loan Modification, Selling Real Estate, First Time Home Buyers, Delaware Real Estate Expert, Short Sale Specialist, 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 David Sordelet's personal views and do not reflect the views of Prudential or Prudential Fox & Roach Realtors. 

David Sordelet, Prudential Fox & Roach Realtors, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?  Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding Foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.  You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

Here is a story that we will have to keep you informed on. 

We will let you know regardless of the outcome.  If the results show that Bank of America stepped up to the plate, we will give them all the credit.  If they drop the ball, we will slam them.

So, here it is:

Have been working for too many months to get a FHA short sale to the table.  Finally got approval and closing is to be on Monday 1/30/12.

As most of you know, the lender being shorted needs to approve the final HUD before closing.  As you also know, it is hard to get the buyers bank to provide all the final numbers in time to be able to build the final HUD and get it to the shorted lender with 48 hour of the closing.

We did do this and got it to them with time to spare!  GOOD JOB FOR THE BUYERS LENDER AND THE CLOSING ATTORNEY!!

Because this is a FHA loan, it is not done on the Equator system.  We emailed the HUD to our negotiator, whose name will remain quiet (for now).  He had the HUD for two days, so we thought.  Finally decided to call him yesterday at 2:30 EST.  

Here is the Voice Message that we got:  "Due to unforeseen circumstances, I will be out of the office till further notice.  If it is urgent you need to contact _ _ _ _ _ _ _ _ _ _ _ !?!?!"  

Well, what do you do, closing is at 1 pm on Monday, HUD is not approved, buyer is getting special funding and will need to send any extensions to the underwriter for review, approval from FHA to short sell expires on 2/3 and so does the appraisal!!  Oh and homes owners fees increase, late fees (which FHA will not) also increase!

Well, the last time I got pissed at B of A and did a blog entry I got a call from the Twitter help desk at Bank of America.  They were helpful and I am scheduled to close that home very soon.

So, I reached out via Twitter to the Bank of America help at their Twitter handle.  I got a call in about 10 minutes, the caller was concerned and did what he could, but since it was Friday night and the FHA short sale office is closed and not open on the weekends, he could only leave messages.  Messages to the same supervisor _ _ _ _ _ _   _ __ _ _ who we had to call before (3 times) and email (4 times) months ago and are still waiting for a response. 

Anyway, the B of A Twitter folks are on the ball and we will see. 

Not being able to sit idle, I contacted the B of A short sale customer service desk today. (SATURDAY)  Now we all know that the front desk folks are not even permitted to give visitors the key to the bathroom.  They can look at the screen and tell you what you already know, like, "your property is not scheduled for Foreclosure sale as of today" and "it looks like all of the documentation is up to date"  Really!! NO SHIT!

She could not even expedite the file because it has not been more than 20 days since we had talked with the negotiator.  Really!!! 

So, here is my plan:

I have the supervisors phone number and 5 direct numbers for people in the office.  At 8 am on Monday morning I will start calling.  I will also reach out to the Twitter help folks as well.  If by 9:30 there are no results, I will contact the corporate office, where - believe it or not- if you call there - - - -they get results.  On this same file, the negotiator went AWOL once before, as did his boss.  I called the chairman's office, explained my issue and CHECK THIS OUT:  Got a phone call from the negotiator in 10 minutes.

You see, what I have figured out, Bank of America is trying to get a better reputation.  They thought hiring a bunch of former real estate agents would give them the edge.  They failed to figure that the agents that would walk away from a real estate business were the ones who were not making it.  They were unwilling to conform to the new market.  Have you seen a real estate office lately?  They are dead.  Most agents are too lazy to get out of their way, let alone learn new things.

Anyway, Bank of America is trying.  Agents and third party negotiators work their asses off for peanuts per hour to get short sales closed and FHA will not permit a third party fee, even if paid by the buyer!

The real people who stand to get screwed here are the sellers and the buyer.  This has been a long process for these sellers and they deserve to be done with this headache.

I will keep you informed!!!!

Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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 and answer any questions you may have.

Or, if you prefer, 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 County loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Click here to request a copy.

Thanks for reading this, David Sordelet.

David Sordelet

David is a Real Estate Consultant with The Team Sordelet Realty Group 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 take a look at the other services that we offer:               http://www.sellmydelawarehome.com                           http://www.mydelawarehomesearch.com                             http://www.stopdelawareforeclosure.com                       http://www.delawareshortsalerealtor.com                                       http://www.teamsordelet.com/Market-Snapshot                                      

You can also search every house for sale in our market place by clicking on this link:      http://www.teamsordelet.idxco.com/idx/4618/basicSearch.php 

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. Delaware Short Sale, Delaware Loan Modification, Selling Real Estate, First Time Home Buyers, Delaware Real Estate Expert, Short Sale Specialist, 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 David Sordelet's personal views and do not reflect the views of Prudential or Prudential Fox & Roach Realtors. 

David Sordelet, Prudential Fox & Roach Realtors, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?  Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding Foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.  You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

New Castle County, DE –

You should put every little thing you have to show that your situation is real and that you cannot afford to make your mortgage payment.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Use numbers and percentages to explain the loss your of income or negative cash flow.

For example, instead of saying "I'm borrowing money to make the mortgage payments", disclose the dollar amount and source of that debt.

A good example would be: "I've borrowed $10,000 against my VISA card to make my payments over the past 6 months, and I have tapped my cards to the maximum."

You need to paint the worst picture that you honestly can. If your car needs maintenance or repair, if the cat has cancer and your vet bills are increasing, if your kids are starving to death on peanut butter sandwiches, or and your fingernails are worn to the quick scrubbing other people's floors for pennies a day, then put it into your hardship letter.

Use simple words that anyone can understand. The people reading these hardship letters are real people. If they don't feel sorry for you by the time they have finished reading, then maybe you need to re-write it.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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 and answer any questions you may have.

Or, if you prefer, 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 County loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Click here to request a copy.

Thanks for reading this, David Sordelet.

David Sordelet

David is a Real Estate Consultant with The Team Sordelet Realty Group 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 take a look at the other services that we offer:               http://www.sellmydelawarehome.com                           http://www.mydelawarehomesearch.com                             http://www.stopdelawareforeclosure.com                       http://www.delawareshortsalerealtor.com                                       http://www.teamsordelet.com/Market-Snapshot                                      

You can also search every house for sale in our market place by clicking on this link:      http://www.teamsordelet.idxco.com/idx/4618/basicSearch.php 

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. Delaware Short Sale, Delaware Loan Modification, Selling Real Estate, First Time Home Buyers, Delaware Real Estate Expert, Short Sale Specialist, 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 David Sordelet's personal views and do not reflect the views of Prudential or Prudential Fox & Roach Realtors. 

David Sordelet, Prudential Fox & Roach Realtors, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?  Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding Foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.  You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

g, then maybe you need to re-write it

New Castle County, DE –

It is not a lot of fun to write a hardship letter. In fact, it can be depressing.

Many people may not know how bad their lives have become until they reach a point of writing a hardship letter.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure. 

Sometimes seeing all those awful things in writing is startling and some people start crying. However, do not turn and start talking about how your life will improve. Do “NOT” share your hopes and dreams for the future with the bank. It's none of the bank's business.

If there is hope on the horizon, if there is a chance for recovery and for you to become whole again, then the bank will not hesitate to grab a knife and plunge it into your heart. If your bank senses anything that shows that you might have the financial means at some point in the future to repay part of that debt, then the bank will jump on it like hot fudge on a sundae. 

The bank doesn't care about you or protecting your precious credit rating.

So do everything you can to clue them into the harsh reality of your situation. Let them know that you have thought of bankruptcy.

Most people think of bankruptcy for just a second and then try to shove the thought into the back of their head. But, let your bank know that you have thought about bankruptcy. After all there is nothing that scares them more than bankruptcy. They know it allows you to walk away from your debt. It also makes them much more willing to negotiate with you. If you are on the brink of bankruptcy, then you've got a story the bank can listen to. Do not be afraid to be truthful and tell that story.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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 and answer any questions you may have.

Or, if you prefer, 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 County loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Click here to request a copy.

Thanks for reading this, David Sordelet.

David Sordelet

David is a Real Estate Consultant with The Team Sordelet Realty Group 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 take a look at the other services that we offer:               http://www.sellmydelawarehome.com                           http://www.mydelawarehomesearch.com                             http://www.stopdelawareforeclosure.com                       http://www.delawareshortsalerealtor.com                                       http://www.teamsordelet.com/Market-Snapshot                                      

You can also search every house for sale in our market place by clicking on this link:      http://www.teamsordelet.idxco.com/idx/4618/basicSearch.php 

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. Delaware Short Sale, Delaware Loan Modification, Selling Real Estate, First Time Home Buyers, Delaware Real Estate Expert, Short Sale Specialist, 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 David Sordelet's personal views and do not reflect the views of Prudential or Prudential Fox & Roach Realtors. 

David Sordelet, Prudential Fox & Roach Realtors, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?  Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding Foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.  You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

New Castle County, DE –

When I interview sellers who want to short sale in my area, I ask them to describe their hardship. Agents who do a lot of short sales can sometimes become a little insensitive because we are focused on the statistics. For instance, when a seller says she is getting divorced, it's possible that I may not show a lot of emotion.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure. 

Then I realize how that comes across, which is not at all in the way I intended it.

Trying to do a short sale or loan mod because of relationship difficulties is acceptable to most bank guidelines. It's not good news that the you and your spouse are splitting up. But, it is important for your lender to know. In your hardship letter, you want to explain 3 things:

1. How you got into your present situation - If for example you have missed mortgage payments state what caused this to happen. Was it due to job loss? Medical or some kind of family emergency? You need to be sure that the dates of the missed payments correspond to the circumstance that caused you to not make your mortgage payments. Use dates to references the times in which hardships happened to you.

2. What you have done to try to get out this situation – state the activities that you have undertaken to try and change your current situation. 

3. Why this situation is permanent and nothing you can do will change it. Try to incorporate those three things into your hardship letter. It will make your situation look more sympathetic.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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 and answer any questions you may have.

Or, if you prefer, 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 County loan modification kit has the instructions you will need to get a loan modification approved with your bank.

Click here to request a copy.

Thanks for reading this,

David Sordelet

David is a Real Estate Consultant with The Team Sordelet Realty Group 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 take a look at the other services that we offer:               http://www.sellmydelawarehome.com                           http://www.mydelawarehomesearch.com                             http://www.stopdelawareforeclosure.com                       http://www.delawareshortsalerealtor.com                                       http://www.teamsordelet.com/Market-Snapshot                                      

You can also search every house for sale in our market place by clicking on this link:      http://www.teamsordelet.idxco.com/idx/4618/basicSearch.php 

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. Delaware Short Sale, Delaware Loan Modification, Selling Real Estate, First Time Home Buyers, Delaware Real Estate Expert, Short Sale Specialist, 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 David Sordelet's personal views and do not reflect the views of Prudential or Prudential Fox & Roach Realtors. 

David Sordelet, Prudential Fox & Roach Realtors, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?  Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding Foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.  You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

Housing Inventory Ends Year Down 22%

http://blogs.wsj.com/developments/2012/01/19/housing-inventory-ends-year-down-22/tab/interactive/

Looking at all the predictions that have been made in regards to our housing market, I think that it is safe to say we can expect at least another 5% reduction in value by mid year.

Some experts are saying that we have hit the bottom, I sure hope that they are correct!  I also realize that it is an ELECTION year and those who want to stay in charge will usually say whatever it takes to do so.

My prediction will be more in line with those that predicted that the real estate bubble was going to burst.  They got laughed at and criticized on TV and in the papers.  Even the NAR (National Association of Relators) got it wrong and could in some instances be found guilty of providing misleading information to the home buying and selling public.

Robert Schiller was called "Mr. Bubble" (in a very negative way) back in 2006.  His predictions were correct!

Like I stated earlier, I think in our New Castle County, Delaware market place, we can expect to see another 5% reduction in value.  What that does not account for is how any further trouble in the world will impact our economy.  Iran is causing all kinds of trouble and Greece is working hard with the rest of the EU to tear down their economy even further.

SO, WHY IS IT A GOOD TIME TO SELL?

• Right now interest rates are low, allowing for buyers to spend more!
• As per the WSJ and local resources, There are FEWER homes on the market!  Less Competition!!
• A slight rise in interest rates could and probably will cause prices to fall!
• A $200,000 house loosing just another 5% over the next six months is really loosing over $380 per week!!!!!
• Buyers are looking right now!

The bottom line, as I see it right now.  You are going to make more money right now by selling your home than you will in the next six months.

HOW CAN WE HELP YOU!

Thanks for reading this, 

David Sordelet

David is a Real Estate Consultant with The Team Sordelet Realty Group 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 take a look at the other services that we offer:               http://www.sellmydelawarehome.com                           http://www.mydelawarehomesearch.com                             http://www.stopdelawareforeclosure.com                       http://www.delawareshortsalerealtor.com                                       http://www.teamsordelet.com/Market-Snapshot                                      

You can also search every house for sale in our market place by clicking on this link:      http://www.teamsordelet.idxco.com/idx/4618/basicSearch.php