short sale agent

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Hennepin County Foreclosure

Thursday, January 13th, 2011

Hennepin County Foreclosure

Hennepin County has the largest population of any county in Minnesota, with 1,140,988 people living within its 611 square miles. Hennepin is considered the wealthiest county in Minnesota, and ranks in the top 100 counties in income in the U.S. Minneapolis is the Hennepin County seat. The highest waterfall on the Mississippi River, St Anthony Falls, is in Hennepin County. There are a number of colleges and universities in Hennepin County, and many cultural and sports activities. However, despite diverse employers in Hennepin County, unemployment has increased from 2.8% in 2001 to 7.2% in 2009 and 6.8% in 2010, and foreclosure is a reality for many Hennepin County homeowners.

Unemployment is just one reason Hennepin County homeowners find themselves facing foreclosure. Foreclosure is a legal process with many steps. Foreclosure leads to homeowners losing all rights to ownership of their home. Foreclosure leaves a dark mark on credit reports. Hennepin County homeowners faced with foreclosure need to realize that a short sale can halt the foreclosure process. This is what basically happens in a foreclosure proceeding (this is just general information; for professional advice, contact the Hennepin County foreclosure and short sale experts at 763-607-1415):

Foreclosure proceedings start when there have been three months of unpaid mortgage payments, a “Demand Letter” or “Notice to Accelerate” is sent out by the lender. This letter demands that a mortgage be made current within 30 days.
When there have been four months of missed payments, the matter then is referred to the mortgage lender’s attorneys.
A sheriff’s sale of the property is scheduled, which can occur as quickly as 2 or 3 months after the Demand letter was sent.
Following the sheriff’s sale, during the redemption period, the homeowner can pay all mortgage payments owed plus fees from the foreclosure proceeding and still regain possession of the home.

A better way to proceed may be a short sale of the property. A short sale can avert the need for foreclosure. In a short sale, the mortgage lender agrees to accept a mortgage payoff figure that is less than what is owed. A short sale is a shorter process. Short sales are less complex. And, a short sale has less impact on credit ratings. But, it is important to get the right professional advice when contemplating a short sale. The best Hennepin County short sale agents can be reached at 763.607.1415. These short sale agents are also well versed in foreclosures and can provide a good analysis of the benefits of foreclosure versus short sales.

Looking for an Anoka County Short Sale Agent Click Here:

Tags: foreclosure, Hennepin, Hennepin County, Hennepin County foreclosure, Hennepin County short sale, short sale, short sale agent, short sale expert
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Minnesota Stop Foreclosure

Monday, January 10th, 2011

Foreclosure. This is a word every homeowner dreads. Most Minnesota homeowners think they will never be affected by a foreclosure. Unfortunately, in this troubled economic climate, there are far too many Minnesota homeowners who find themselves faced with foreclosure. Foreclosure, In Minnesota and elsewhere, is a legal process that involves numerous steps that eventually can lead to a homeowner losing all rights to ownership of their home. Foreclosure leaves a dark mark on credit reports, one that takes years to eradicate. Many Minnesota homeowners faced with foreclosure do not know what to do and wait too long before trying to halt the process. A short sale is a way to stop foreclosure.

In Minnesota, many homeowners staring down the threat of foreclosure turn to another remedy, the short sale. The Minnesota housing climate has been affected by the nationwide foreclosure rates just like any other state. In 2009, Minnesota Public Radio reported that has the highest foreclosure rate in the upper Midwest, and ranked 21^st in the nation in foreclosures.[1] The way many Minnesota homeowners can stop foreclosure is to resort to a short sale of their home.

There is a set process for a short sale in Minnesota. Generally, there is a seller unable to make mortgage payments. The seller approaches their lender. This is best done through the services of a short sale expert, such as the Minnesota short sale experts at 763-607-1415. A bunch of documentation has to be sent to the lender. These items can include a statement of the hardship and financial documents. After what is hopefully a short time, a potential buyer will make an offer on the property. The short sale agent then sends the agreement of sale and other documents to the lender. Once the lender reviews the proposal (review times can vary greatly, the lender sign off on the proposal and issues an approval letter. The lender benefits from a short sale by not having to initiate a foreclosure in the court system. For the borrower/seller, a short sale gets them out from under a mortgage they cannot pay, sometimes with no obligation to repay the difference between the short sale amount and the amount due on the loan. And in a short sale, the buyer gets a home that was likely had for a great price. Call us at 763-607-1415 to find out more on short sales and how to stop foreclosures in Minnesota.

[1] Madeleine Baran, “Minnesota Has Highest Foreclosure Rate in Upper Midwest”, Minnesota Public Radio,

September 21, 2009.

Tags: foreclosure, Minnesota, Minnesota Foreclosure, Minnesota short sale, MN short sale agent, short sale, short sale agent
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Avoiding Foreclosure through Short Sales in Maple Grove

Friday, December 31st, 2010

Maple Grove, MN, is a beautiful community only 20 miles outside of Minneapolis. Within its 36 square miles, Maple Grove has lots to offer to its 60,000 residents — community pools, an ice arena and numerous other parks. It is easy to see why so many individuals purchase homes in Maple Grove.

The day they purchased their homes, the last thing any Maple Grove homeowner imagined was that they would end up having to go through the process of a short sale, or find themselves on the brink of foreclosure. When foreclosure or a short sale looms, the home, once a place of safety and security, becomes a source of anxiety and stress. Since foreclosure is such an extraordinary remedy, Maple Grove homeowners facing foreclosure typically seek any other means to dispose of a property, including a short sale.

When an owner defaults on a mortgage, there are a variety of ways a lender might handle the situation. Although foreclosure is the remedy that seems to dominate the financial news these days, both in Maple Grove and throughout the country, a different approach, the short sale of the property, is often a more agreeable solution for both the borrower and the lender.

Foreclosure involves numerous steps and legal processes, so administrative costs can be quite high. In a short sale, the lender is literally agreeing to “cut their losses” so as to avoid the fees and delays of a foreclosure procedure. While there are still set procedures for making a short sale, the costs are generally lower than those for a foreclosure. Lenders accept a payoff amount that is lower than what is still owed on a mortgage.

The typical foreclosure or short sale scenario involves a home that now has a fair market value which is substantially lower than the purchase price and/or mortgage balance. For example, there may be a home in Maple Grove that is now worth $200,000, but was purchased only 4 years ago for $300,000, and has a balance on the mortgage of $240,000. Events leading up to a foreclosure or short sale can vary widely, but might include:

The owner’s inability to pay their monthly mortgage payments on their home
The owner’s inability to sell their home for an amount sufficient to pay off the loan balance

In these situations, the chance of the bank getting all of their money back is pretty low. A short sale may occur if:

The owners desire to avoid foreclosure
The mortgage lender agrees to short sale the home rather than pursuing foreclosure

By using a short sale agent familiar with the process, distressed Maple Grove homeowners can benefit from expertise needed to navigate the waters of short selling a home and avoiding foreclosure.

Foreclosure can be a nightmare, and its effects will be evident on a homeowner’s credit report for years to come. Whatever the events were that lead to a home being put up for a short sale, a Maple Grove short sale agent can help ease the process for the homeowner, getting them started on the road to financial recovery. To avoid foreclosure, contact an expert in Maple Grove short sales at 763.607.1415.

For Maple Grove homeowners, the right real estate professional with knowledge of short sales in Maple Grove can facilitate the process of short selling a home and avoiding foreclosure. The same is true for homebuyers: an experienced short sale professional who is familiar with Maple Grove will guide buyers to prime properties available at short sale. Potential home buyers looking to find a great property in Maple Grove should contact The Short Sale Experts for Maple Grove at 763.607.1415.

Tags: avoiding foreclosure, foreclosure, Maple Grove, Maple Grove MN, short sale, short sale agent, short sales, shortsale expert
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Arden Hills Short Sale

Saturday, December 18th, 2010

Arden Hills is known for its lovely sceneries and state of the art facilities. It is complete with all the luxuries you can ever imagine- sports clubs, golf courses, club houses and entertainment centers that are suitable for you and your family. There are even spas for you to relax and get yourself pampered.

Living in Arden Hills for a long time or permanently is always a good idea. In fact, it is the ultimate dream of many people. Not only do you get to live in a comfortable and elegant house, you also get to live luxuriously and safely. If you are worried about the amount of money that you will need to get a house, you can consider the options and packages that a real estate agent will gladly explain to you. Arden Hills short sale is one choice.

Properties sold as a short sale are more affordable than brand new homes. Buying a short sale will help you save money and at the same time gives you the opportunity to live comfortably. Some units are even good as brand new.

Even if they are existing homes, they are still very much viable because most of them have been used for just a short time. In fact most of them were foreclosed just a few months after the loans have been made due to the economic recession that the country has experienced.

Short sales are properties that have been subject to mortgages but the borrowers failed to pay diligently for at least three months straight. The distressed home owners therefore sell the house for a discounted price subject to the bank or lenders approval.

Buying a house under this scheme is easy. All you have to do first is search for short sales either in real estate magazines or online to see the prevailing prices and rates that will apply to the sale. The locations of the houses are also indicated so you can make a visit to make sure that the house is not only good in pictures.

Once you find the best home for you, check the short sale agent who was responsible for the sale to get more details. You will need to review and study the Arden Hills short sale contract. Remember not to sign anything before this so you can check if you are in a reasonable deal. Surely, you don’t want to enter into a deal that brings you to a disadvantageous position.

Tags: Arden Hills short sale, Arden Hills short sale contract, living in Arden Hills, short sale agent
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Anoka Short Sale

Saturday, December 4th, 2010

When homeowners in Anoka have difficulty paying their mortgage, they can opt to sell their property. Properties that are sold in a nearly-foreclosed state are called short sales. Short selling a home is a better option than foreclosure because it has lighter outcome on credit reports.

Before considering buying a short sale, it pays to know what it is all about. Having enough understanding about this concept is important so you can make informed decision.

When a distressed borrower decides to sell his mortgaged property, he has to convince his lender to the selling of the property at a lower amount than the whole mortgage value. This can be very challenging because lenders conduct strict assessment to see if they are financially better off selling than foreclosing. Lenders also demand lots of supporting documents before they approve the Anoka short sale. A negotiation is also necessary between the lender and seller, who may need a professional short sale agent to represent him.

In a short sale, the property is sold at a lower amount than what the borrower actually owed from the lender. To the buyer, this is advantageous because buying a newly built home is very expensive these days. To the seller/borrower, it could be a way to pay the remaining borrowed amount that he or she cannot payoff. To the lender, it could be a way to gain from a mortgage that has gone bad and a way to save time selling the property in a foreclosure auction.

Because of the current redemption laws in MN, homeowners can expect the process to be less expensive and less time-consuming. There are government-initiated housing programs that encourage the lenders to offer short sale to distressed homeowners. This helps distressed owners avoid the negative effects of foreclosure.

Although the transaction may not sound like an ideal thing, it will pay off once you find a perfect home that best fits your budget and preference. Just be sure to visit the property that you are interested in for further inspection. You should also verify the other costs attached when buying the property.

So if you are after an Anoka short sale because of the discounted price, think of the process that you will go through. You would need patience and cooperation from different parties involved. To make things easier and better for you, hire a professional short sale agent who can work with you. He can provide you counsel, guidance and assistance during the process.

Tags: Anoka, Anoka short sale, short sale agent, short sale agent MN
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Solving your Mortgage Problem with Short Sale Agents MN

Tuesday, August 17th, 2010

If your property in Minnesota is on the verge of foreclosure, you can talk to your lenders for a short sale. You should tell them that you intend to sell your property to an interested buyer with a price that is lower than the mortgage amount. Such transactions require some skill and proper know-how. If you are novice to this, you cannot do it all by yourself. You need to work with one of the reputable and reliable short sale agents MN along the way.

Why Short Sale?

To solve delinquent mortgage payments, it is sometimes better to sell the property rather than allow the bank to foreclose it. But this is not so you can gain something from the sale. In fact, only you as the seller do not gain anything from the sales proceeds from the short sale. Although this is the case, you can still benefit from selling the property. For one, you avoid the social stigma of a foreclosure. Your credit may also not be severely affected because selling the property on a short sale is done just like any regular real estate selling. You also have the control over who buys the property. Finally, by avoiding the foreclosure records, you are allowed to buy a new home after 2-5 years as opposed to 7 years with foreclosure.

Actually, the lender can benefit from the MN short sale as well because the moment they foreclose the property, they will carry it on their books and might find it hard to dispose it during auction. In a way, you are helping them mitigate some losses. But you and your short sale agent MN should prove to them that they get more financial benefit from the short sale compared to foreclosure.

Aside from the lender, the purchaser can also benefit from the sale because they can get a property at a price that is lower than the actual market value. This means lower future taxes and mortgage payments.

Of course, the short sale agents MN can benefit from the sale but it is up to the lender to share the gains. So don’t worry about how to pay the agents for their services. Just be sure to work with professional short sale agents because they have the understanding and experience needed to complete a short sale transaction.

To get the right agent, you need to study the track records, the background and the profile of the short sale agents on the list. With the right agent by your side, you have higher chances of getting your short sale approved and getting the benefits that goes with it.

Tags: MN short sale, short sale agent, short sale agent MN, short sale agents MN
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Short Sale Help MN: Who Gets the Benefits?

Monday, August 2nd, 2010

When your home in Minnesota is about to be foreclosed due to mortgage defaults, that is the right time for you to seek short sale help MN. You can ask for help from an experienced short sale agent to find a buyer and negotiate with your bank.

When you and your agent are in the process of selling your MN property to a third party buyer with a price that is lower than the market value, you will need to negotiate with your lender. If the lender approves the short sale, this means that they agree to receive the payment as full even if the price of the property is actually lower than your total mortgage amount.

Many Minnesotans are asking short sale help MN to solve their mortgage problem because in reality, a short sale gives them the following benefits:

They get to choose the buyer.
They escape the social stigma of having a foreclosed home.
They get to sell their home just like any home sale.
They don’t have to vacate their home immediately as opposed to getting their homes foreclosed.
They can buy a new home after 2 years as opposed to foreclosures which enables them to buy homes after 5-7 years.

The only thing that they will not get is profit from the sale. In fact, they are the only ones who will not get any profit at all.

Who Profits?

There are many who can extend short sale help because they can benefit from the sale. Some parties who profit from the sales are:

Escrow Companies. The escrow companies usually act as an independent party during a short sale transaction. They get paid by the lender for the real estate transactions.
Mortgage Brokers. If the buyer loans through the arrangement done by a mortgage broker, that broker will earn from points of the loan.
Title Companies. These companies get paid for their services that include issuance of an owner title policy to the new buyer, and issuance of the ALTA policy to the lender.
Listing Agents. The listing agents also get commissions from the sale since short sales are handled just like any property sale.
Real estate lawyers. Lawyers get paid for the legal service they extend to sellers who normally seek legal advice and documentation relating to the short sale transaction.
Appraiser. Usually, lenders require appraisal of the property so sellers contact an appraiser who provides the market value of the property. The appraisal is one of the important documents required by the lender during a short sale transaction.
Tax Consultants and accountants. Sellers need tax advice and documentation relating to the property transaction so tax consultants and CPAs can earn by providing the services.
Insurance companies. Buyers need insurance policies for the new home so this means a new sale for the insurance companies.
Lenders. The sale of the property is a new business to the lender.

Aside from the profit itself, the lender benefits from the short sale because if they foreclose the property, they would file for foreclosure and carry the property that may not be disposed during auction. They would be the one to look for the buyer of that property instead. In other words, if they agree on a short sale, they would spare the recordings and the time and effort in selling the property. Plus, they would mitigate their losses.

Also, buyers benefit from a short sale because they would be able to acquire a property that costs lower than the market value.

Overall, getting short sale help benefits not only the seller but also other parties who may be involved in the transaction as well.

Tags: MN short sale, short sale, short sale agent, short sale help MN
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