What is a Seniors Real Estate Specialist?

Posted by Betty Bargoil @ 10:15 am, May 8th, 2008

A Seniors Real Estate Specialist is trained to help Seniors make good decisions when it comes to their Real Estate needs. It is a program that has been around for almost l0 years, developed primarily with the focus on the needs of buyers and sellers 50 and over. SRES designees are trained in the areas of finance,buying and selling, rental properties and helping to manage capital gains. They are abreast on current trends and opportunities for Seniors in the Housing market.

While the Real Estate Agent is only part of the equation, they can not give legal or tax advice,it is therefore important to find an that has partnered with other professionals to insure that all the factors surrounding the seniors circumstances can be addressed.

For me the extra training has been very beneficial. Going the extra mile for our clients is important to us and that is why we have dedicated the additional time and expense to earn the desination that only 8000 Real Estate agents World Wide have obtained.

FOR A FREE COPY OF THE REPORT “SPECIAL SENIORS REPORT” please email bbargoil@fmrealty.com or call 919-874-7573 and leave your name and address.

What is a Seniors Real Estate Specialist?

Posted by Betty Bargoil @ 10:15 am, May 8th, 2008

A Seniors Real Estate Specialist is trained to help Seniors make good decisions when it comes to their Real Estate needs. It is a program that has been around for almost l0 years, developed primarily with the focus on the needs of buyers and sellers 50 and over. SRES designees are trained in the areas of finance,buying and selling, rental properties and helping to manage capital gains. They are abreast on current trends and opportunities for Seniors in the Housing market.

While the Real Estate Agent is only part of the equation, they can not give legal or tax advice,it is therefore important to find an that has partnered with other professionals to insure that all the factors surrounding the seniors circumstances can be addressed.

For me the extra training has been very beneficial. Going the extra mile for our clients is important to us and that is why we have dedicated the additional time and expense to earn the desination that only 8000 Real Estate agents World Wide have obtained.

FOR A FREE COPY OF THE REPORT “SPECIAL SENIORS REPORT” please email bbargoil@fmrealty.com or call 919-874-7573 and leave your name and number

Raleigh Real Estate - Why Inspect A New House

Posted by Betty Bargoil @ 12:04 pm, April 30th, 2008

Why inspect a new house?
Several years ago, when I was teaching classes to first time homebuyers at NC State University, this question would inevitably come up. Why does a new house need to be inspected? After all, the builder told us that the city or county inspects the house prior to generating a certificate of occupancy. He will also give us a warranty.
It is true, that during the course of construction, houses are inspected several times by Code Enforcement Officials. As a buyer, you must understand that generally, they are only inspecting to code compliance. In many cases, they have only a very small segment of time allotted for the inspection. As a result, things often go undetected. You can build a house to the applicable codes-but that doesn’t mean it’s a well-built house! I can emphatically state that in over 20 years we have never had a perfect new house!
Information  provided by A1 Home Inspectors

Wood Rot - What you should know

Posted by Betty Bargoil @ 7:27 am, April 17th, 2008

Wood rot-What is going on?
 

On nearly every inspection we perform for houses that are more that a few years old wood rot is present! How does this happen, after all, the house is only a few years old! In most cases, the short answer is the paint/caulk has failed and is allowing moisture penetration. This is a condition that is conducive to the microorganisms that feed on wood. The most common areas for this “early rot” is at the bottom of trim boards for doors and window assemblies. These areas are subjected to moisture that wicks into the wood when the paint/caulk fails-and it doesn’t take long to fail! Plan on painting the trim every 3 years or so to minimize rot.
 

So what do you do if you find rot? The best option (and least exercised option) is
replacing the wood with some of the new products that don’t rot. Fiber cement or plastic based products should give a very long time of problem free service. Another option would be to replace the wood with new wood. Although commonly done, we don’t recommend splicing new wood in. This creates a joint that will often fail within a few short years. Another acceptable option would be to remove the deteriorated wood and repair using an exterior 2-part wood epoxy. Properly done, this will last several years. One commonly observed repair method involves the use of caulk. It is short-term only and considered substandard!
 

-Compliments of A-1 House Inspectors

Home Inspections - Don’t Miss These Common Defects!

Posted by Betty Bargoil @ 3:57 am, April 7th, 2008

This information is provided courtesy of A-1 House Inspectors, Inc.
A1houseinspectors.com


 So you are purchasing or selling your house! Here is a list of common
defects found by Home Inspectors. In future weeks we will examine these in more detail.
 

Inspection top eight list for resale houses!
1) Wood rot/deterioration on the trim and siding. Common in our area
on houses more than a few years old due to the high humidity and failure to keep
the siding/trim properly painted. Most common locations are: 1) Bottom of
vertical trim pieces for windows, doors, 2) Lower exterior window sills and
horizontal trim, 3) Bottom of columns especially where they contact concrete, 4)
Fascia boards-especially where gutters leak or overflow, 5) Hardboard siding
where it comes in contact with vertical trim boards, roof shingles, and where the
pieces meet 4) Hardboard siding on chimneys. 5) Delamination of the hardboard
siding due to defective product or improper installation. (overdriven nails that
compromise the substrate allowing water intrusion)
 

2) Moisture in the crawl space. There are several potential causes:
1) Improper grading around the perimeter of the house. Soil should be graded to
shunt water away from the foundation. 2) Breakdown of the water proofing on
the foundation walls. The original waterproofing generally lasts between 15-20
years. 3) Lack of or non-functioning gutters. These are important in controlling
water runoff from the roof and should not discharge water directly at the
foundation. 4) Clogged positive foundation drain. These should always run to
daylight. They often get clogged allowing/causing water to back up into the
crawl. 5) Condensation. This is often a seasonal problem (summer) resulting from moisture in the air condensing onto cooler surfaces in the crawl. Serious problems can generally be resolved by closing the foundation vents to prevent the infiltration of air, installing 100% 6-mil vapor barrier and installing a dehumidifier with a drain that runs to the exterior. Note: Moist crawl spaces are
conditions that are conducive to wood-destroying insects!
 

3) Plumbing. 1) Loose commodes. They should not exhibit any movement side to side, front to back or up and down. 2) Leaks. Common areas are at shut off valves, couplings and traps under the sinks, where the drain rod assembly
connects to the sink drain, where showerheads connect to the stem. 3) Shower
stem loose in the wall. A properly installed stem will exhibit no significant
movement in any direction. This puts stress on the connections inside the wall
cavity. 4) Poly plumbing with “plastic fittings”. (generally not used after the late
80’s) 5) Leaking/non-functional water heaters. Sometimes as simple as a leaking
temperature/pressure relief valve or electric element. Other times it may be the
tank itself. Average life expectancy is about 10-12 years. 5) Incompatible
materials such as mixing ABS and PVC or dissimilar metals. 6) Slow or clogged
drains.
 

4) Roof. The average life expectancy of a 20 year shingle in our area is 16-18
years) 1) Boots for the plumbing vent. These generally start to deteriorate at
about 7-8 years of age. Nearly any boot more than 10 years old will be damaged.
This can allow water intrusion. 2) Cracked end ridge cap shingles at gables. 3)
Lifted shingles. These shingles are more susceptible to being pulled from the roof
during periods of high wind. They should sit flush to the roof deck.
4) cracked/curled shingles. These are in the latter stage of their life cycle. Wait too long to replace and you may experience leakage. 5) insufficient or excessive
shingle overhang. Ideal overhang is approximately ¾”.5) Electrical. 1) Missing or non-functional Ground Fault Circuit Interrupters.
These are safety devices designed to protect you from electrocution. They are
typically located in kitchens, bathrooms, garages, outside and at whirlpool tubs.
They should be tested on a periodic basis to insure their proper function. These
can be tested by plugging in a lamp, radio or other electrical device and pressing
the test button. The electrical device should turn off. If the device does not turn
off a repair should be performed. 2) Outlets that are loose in the wall. This puts
stress on the electrical connections. 3) Electrical panel defects. Open knockouts,
loose wire connections, double- tapped breakers, wrong sized breakers, and
talking electricity!
 

6) HVAC 1) Failure to heat/cool properly. 2) clogged primary condensate drain
lines-water in the safety pan, 3)Dirty filters, 4)Cracked heat exchangers in gas
furnaces, 4) deteriorated ductwork.
 

7) Structural 1) Windows that have lost their seal. This impacts energy
efficiency and visibility. 2) Rot on the subflooring, joists and band where the
deck meets the house. The area under the rear door is particularly susceptible.
This is typically due to improper flashing/sealing and very common when gutters
are not present. 3) Cut floor joists under bathrooms. Plumbers often do this to
accommodate drain lines-and then fail to repair. 4) Improperly installed pulldown
stairways. Installed with screws instead of 16D nails. Screws have insufficient
shear strength. 5) Doors that bind on the frame, don’t latch, don’t seal properly
against weatherstrip. 6) Windows that do not open, won’t stay open. 7)
Improperly bearing structural members8) Misc. 1)Vegetation against the house. This prevents proper air-flow (critical
with hardboard siding) and provides a pathway for insect intrusion. 2) damaged
weatherstrip around doors. 3)Exposed bare wood due to insufficient paint.
4)Improperly installed electric eyes for the garage overhead door(s) 5) Garage overhead doors that do not function properly.
 

.

Understanding the Costs of Buying a New Raleigh Home

Posted by Betty Bargoil @ 3:48 pm, April 4th, 2008

Purchasing a new home is a very rewarding and exciting experience. If you have decided to become a homeowner, it is important that you understand all of the costs associated with purchasing a new home. As you go through the process, it is important that you work closely with real estate professionals who will educate and guide you along the way. Your Real Estate Agent and Mortgage Professional are very important partners in this process so make sure you are working with professionals who you feel have your best interests at heart.

So, what are the total monetary costs of buying a new home?

First, working with your mortgage professional, you need to complete a loan application and get “pre-approved”. This is an important first step as you will need this when submitting an offer to a seller (they will require it). Not only does it save time, it will help you determine how much home you can afford and you’ll have a great idea of your total costs before you start the process of finding a home. The cost of this pre-approval is ZERO. Also, your mortgage professional will be able to ascertain the best mortgage plan that fits your particular finances and your long and short term goals and objectives.�

Once your preliminary mortgage plan is developed, you need to understand the total liquid assets you will need to allocate towards several different costs:

Down Payment - In most cases, you will need to come up with a down payment of at least 3% of the sales price of the property. Financing at 100% is rapidly disappearing in the current market with VA (Veterans Administration) and a few “Affordable Housing” lower income restricted programs the exception. Also, a 20% or more down payment will typically allow you to obtain the very best terms (rate and cost).

Earnest Money Deposit – This will probably be the first out of pocket expense you will incur. When you present your Offer to Purchase to the seller of a property you will also give the seller an “Earnest Money Deposit”. Once the “haggling” on price finishes and you come to agreement on a price, the Earnest Money Deposit will be held until closing of the transaction. At that time, this amount will be applied towards the total cost of purchasing the home. The amount of an Earnest Money Deposit will vary greatly. Consult with your Real Estate Agent regarding the proper amount.

Inspections – Most buyers will decide to have their potential new home inspected by a professional to determine if the home has any problems that need to be addressed prior to closing. The cost of an inspection is about $400 to $500 but may be more on larger more complicated properties. The inspection cost will usually have to be paid prior to closing but in some cases, the inspector may allow you to pay them at the closing of the home.

Closing Costs and Prepaid Expenses - Prior to the day of closing on your new home the closing attorney will provide you with a “HUD1 Settlement Statement”. This document will itemize in detail each and every cost associated with the home purchase and tell you how much money you have to bring to the closing to finalize the transaction. These costs are broken down into several different categories and are identified by “line numbers”:

Items Payable in Connection with the Loan – These are typically costs listed in the “800” series of line items on the HUD1 Settlement Statement on page 2. These are the fees associated with obtaining a mortgage. If you paid cash for your home these fees would total ZERO. These fees may or may not include such items as a Loan Origination Fee (typically 1% of the Loan Amount), Discount Points (used to “buydown” the rate and cost 1% for each point of the loan amount), Application Fee (varies but $395 with FM Lending Services and it covers appraisal, credit report and flood zone cert), Underwriting Fee (varies $150 to $450), Processing Fee (varies $150 to $350), Tax Service Fee (appx $70), Appraisal Fee (appx $325 but may be included in application fee), Credit Report Fee (appx $25 to $50 but may be included in Application Fee), Flood Determination Fee (about $20 but may be included again in the Application Fee), and other possible fees with creative names.

These fees are sometimes referred to as “junk fees” and when you shop lenders at the beginning of your home search process, these are the fees that you need to know about to compare with different lenders as they are the only fees that may differ between each lender. All of the other costs of buying a home will be the same no matter which lender you end up choosing.

Items Required by Lender to be Paid in Advance – The lender will require that you pay interest on your loan from the day of closing until the end of the month in which you close. Also, you have to pay your first year of hazard or homeowner’s insurance as well as flood insurance (if required) in advance.

Reserves Deposited with Lender – Money will be collected to start funding an escrow account that will be added to each month when you make your monthly payment. The funds in this account will be used to pay taxes and insurance each year for you. This usually amounts to about 3 or 4 months of each.

Title Charges – An attorney will be hired to handle the closing of your transaction and this will cost about $450.00. Also, Title Insurance is required and that is equal to roughly $1.75 to $2 per thousand of the purchase price of the property. You may see some miscellaneous fees here for Couriers, Copying charges, or other fees paid for by the attorney to close your loan.

Government Recording and Transfer Charges – Here you will see the cost of recording documents in the County Records. For a buyer, this will usually be around $85.

Additional Settlement Charges – Anything else such as a Termite or Pest Inspection, a Home Warranty Charge, Survey, etc. will appear here.

As you can see, there are many charges and fees associated with the purchase of a home. Luckily for cash strapped buyers, it is possible to reduce many of these at closing expenses for you through negotiations with the seller of the property. Consult your real estate professionals for assistance with this.

Hugh W. Page, M.B.A.
Senior Mortgage Consultant
FM Lending Services, LLC
(919) 874-7557 Office
(919) 995-3138 Cell Phone
hpage@fmlending.com
Apply Online at www.fallsofficeloans.com

Why are Raleigh Real Estate Mortgage Rates Up?

Posted by Betty Bargoil @ 7:27 am, March 12th, 2008
It’s frustrating. The mortgage market is in disarray, the Fed cuts short term interest rates hoping to alleviate the pain, and mortgage rates are creeping up not down. What is causing this terrible disconnect between Federal Reserve interest rate cuts and the rates on mortgage loans?   

In order to understand this frustrating set of circumstances we have to first understand how mortgage rates are set. Once originated, closed, and funded the ownership of the mortgage is sold off to investors such as Fannie Mae or Freddie Mac. These entities bundle together loans of a like nature (in yield and credit quality) and package them into an investment security known as a Mortgage Backed Security or MBS. These securities are sold to other investors such as mutual funds, and even individuals. The securities behave much like an ordinary bond such as a Treasury and they are traded on the Secondary Market much like a stock trades. The prices of these MBS fluctuate in response to typical supply demand factors and as the price of these instruments fall, their underlying yields rise. Rising MBS prices result in lower yields on these investment securities. The rates that are offered on new mortgages being originated are determined by the prices of MBS. That is the primary reason that interest rates offered on a daily basis can fluctuate so much. In fact, in February 2008, out of 21 business days in the mortgage market, 18 of those days experienced multiple repricing of interest rates during the same day. It can be maddening. 

So what are some of the factors that individually and together may influence the demand for MBS and therefore affect the price and yields of these securities? 

Fears of Future Inflation Since inflation eats away at the purchasing power of the dollar, any fear from investors that future inflation will increase tends to reduce investor appetite for these longer term investments. To compensate for this increased risk, investors demand a lower price. Lower price equals higher yield on an MBS. 

Default Risk For years, MBS prices, and especially agency debt owned by Fannie Mae and Freddie Mac, have earned a very low risk premium due to the implicit nature of a government backed guarantee of this debt. In fact, the spread between the rates on Treasury Securities (risk free) and MBS is historically pretty low. But since the yield on MBS tends to be higher than Treasuries and virtually just as safe (in investors minds) the demand for these MBS securities has been high as a way for investors to improve the overall performance of their investments. 

Stock Market Prices Investors have a choice where to place their money on a daily basis. They can choose to invest in stocks, bonds, commodities, MBS, or a combination of all of these. As the stock market rallies and goes up, investors tend to want to place more of their money into stocks. This reduces the amount of money they choose to invest in other investment products such as MBS thereby reducing their demand and thus lowering their price. Lower price for MBS means higher yields required. 

In the end, it is simple Supply and Demand that influences the prices of these MBS and therefore their underlying yields which determine rates on newly issued mortgages. Many factors influence this Supply and Demand relationship. 

So here is an analysis of what’s going on now with the Supply and Demand of these MBS. 

First, we continue to see economic data suggesting inflation may be a problem down the road. Commodity prices continue to rise suggesting inflation may be a problem. This can easily reverse itself but for now it’s here. The Federal Reserve has slashed short term interest rates 2.50% since September 2007 in an effort to stave off recession fears from a slowing economy. When the Fed cuts short term rates it does so to try and reinvigorate the economy to help it grow. This can actually create more inflation from a combination of increased economic growth down the road as well as the price increases on imported products from other countries as the U.S. dollar weakens. 

Secondly, more homeowners are defaulting on their mortgages across the country creating foreclosures and losses on this debt. As the risk of defaults increase investors will demand lower prices of these securities to compensate for the risk. 

So, bottom line is that Increased inflationary expectations along with more default risk means investors will demand lower prices of MBS in order to buy them. Lower prices equal higher yields and higher new mortgage rates. Stock market performance is not a perfect gauge of where MBS prices head but it has been pretty reliable in the past. Unfortunately, as the Stock Market has suffered this year (down over 8% for the year), MBS pricing has not improved as it has been affected in a larger way with inflation and default risk issues. 

One other more complicated factor has arisen. Many large investment companies now hold MBS and other bond investments as securities for loans they have with large investment banks and other financial institutions. As the perceived value of this collateral has fallen recently, many financial institutions are invoking special financing clauses on these loans known as “margin calls”. This means that the institution must come up with extra cash as collateral for the loan they have with the bank. Last week, two very large institutions, Thornburg Mortgage and Carlisle Funds were unable to meet their margin calls with the banks. When this happens, the bank requires them to liquidate some of their collateral in order to meet these margin calls. In the case of these two companies, the underlying collateral was MBS and they had to sell these on the market at literally firesale prices in order to meet their margin calls. This caused a very large drop in MBS pricing and lead to a very large increase in mortgage rates that day. In fact, we had the second largest one day increase in rates ever next to the day after 9/11. 

So, in essence, fear of inflation and increasing defaults along with large dumping of supply onto the market at firesale prices has driven mortgage rates higher just when you thought they were going lower. In order for us to see lower mortgage rates we need to reverse some of these factors in the market beginning with a restoration of some confidence in the MBS market. This will be achieved by lowering inflation and default fears. If the Federal Government steps in to guarantee MBS debt in some way that will help greatly. So far, there has been a reluctance to do that and for good reason. If that doesn’t happen, the market will certainly take care of it for us in the long term, but at a short term cost of higher rates, more defaults, and lower prices. Hold on for the ride. 

Hugh W. Page, M.B.A.

(919) 874-7557 Office

hpage@fmlending.com

Click Here to Apply Online 

Raleigh Real Estate FHA Mortgage Limits Increased

Posted by Betty Bargoil @ 9:26 am, March 7th, 2008

As anticipated, HUD announced today new increased temporary loan limits for loans insured through the Federal Housing Administration or FHA. For the Triangle, here’s how the new loan limits break out:

Raleigh-Cary, NC (MSA) = $295,000 for a 1 family home
Durham, NC (MSA)         = $331,250

(and no I don’t know why Durham is higher!)

Franklin, NC (MSA) = $295,000
Orange, NC (MSA) = $331,250
Johnston, NC (MSA) = $295,000

FM Lending should be able to start accepting loan applications for loans that fit the new limits as soon as we get confirmation that our investors are ready to take them. We anticipate this happening any day.

Also, many people heard that the limits for Fannie Mae and Freddie Mac would be increasing as well, and this is true except for one sad fact. NOT IN THE TRIANGLE!

It remains at $417,000 for our area. Only 70 “High Cost Areas” within the U.S. were granted higher loan limits up to $729,750 in places such as California.

For a free credit analysis contact your FM Lending Mortgage Professional Hugh Page at 919-874-7557 or email at hpage@fmlending.com

 

Raleigh Real Estate FHA Mortgage Limits Increased

Posted by Betty Bargoil @ 9:26 am, March 7th, 2008

As anticipated, HUD announced today new increased temporary loan limits for loans insured through the Federal Housing Administration or FHA. For the Triangle, here’s how the new loan limits break out:

Raleigh-Cary, NC (MSA) = $295,000 for a 1 family home
Durham, NC (MSA)         = $331,250

(and no I don’t know why Durham is higher!)

Franklin, NC (MSA) = $295,000
Orange, NC (MSA) = $331,250
Johnston, NC (MSA) = $295,000

FM Lending should be able to start accepting loan applications for loans that fit the new limits as soon as we get confirmation that our investors are ready to take them. We anticipate this happening any day.

Also, many people heard that the limits for Fannie Mae and Freddie Mac would be increasing as well, and this is true except for one sad fact. NOT IN THE TRIANGLE!

It remains at $417,000 for our area. Only 70 “High Cost Areas” within the U.S. were granted higher loan limits up to $729,750 in places such as California.

For a free credit analysis contact your FM Lending Mortgage Professional Hugh Page at 919-874-7557 or email at hpage@fmlending.com

 

Pre-Foreclosure - There are Ways to Avoid It!

Posted by Betty Bargoil @ 1:18 pm, January 16th, 2008

You have a RIGHT to know ALL of your OPTIONS: Option 1: Loan Forbearance or Modification - Your mortgage company may make arrangements with you to pay some of the back payments now and the balance within a certain time period. For example – You owe $9,000 in back payments, attorneys’ fees, etc. Your mortgage company may accept $4,500 now and $750 a month for the next 6 months. You would have to resume making your normal monthly payments. A loan modification is a permanent change to your mortgage that may lower your payments and the delinquent payments may be added to the mortgage balance. A loan modification or forbearance is easier to arrange prior to the Mortgage Company filing a foreclosure lawsuit. 


Option 2: Reinstate Your Mortgage - You have up to the morning of the auction to make your payments current. Perhaps you could borrow from friends, family, credit cards or retirement programs. You may be able to arrange a second mortgage to catch up the back payments and fees. There are a number of companies listed that claim they can help in these situations. 

Option 3: Refinance - You’ve probably received letters from mortgage brokers and lenders saying you are already pre-approved for a new mortgage. The fact is that is very difficult to arrange new financing when you’re already in default on your existing mortgage. Be very cautious about sending advanced fees of $300 to $600 to lenders or mortgage brokers. Usually it’s a ploy to take advantage of your financial situation.Arranging new financing will depend on your income, credit report, value of your home and the amount of your equity. If you’re not sure of the value of your home, give me a call. Usually I can give you a fairly accurate estimate of value within a ½ hour. I would be glad to help and of course, there’s no obligation. If you attempt to refinance, you should always have a backup plan. Many times, I have had homeowners call days before the auction saying their financing did not go through, and then it’s too late!

Option 4: Chapter 13 Bankruptcy - Bankruptcy is considered an action of last resort. A viable alternative if your financial situation has improved, filing bankruptcy prior to the auction will stop the sale. Unfortunately for most people, it only postpones the sale for one or two months. Immediately after filing a Chapter 13 Bankruptcy, you will have to file a repayment plan with the courts. This plan has to show that you have sufficient monthly income to pay basic living expenses such as food and utilities and other monthly expenses. In addition, your income must be sufficient to resume making your monthly mortgage payments. All past due amounts are usually spread out between 24 and 60 months. If you feel as though you have the income to immediately begin repayment of all your debts and the courts agree, this may be a good choice for you to save your home.

Over the years, I’ve spoken with many individuals who filed for bankruptcy protection only to have their cases dismissed. Not only were they out their attorney’s fees (usually $1,000 - $2,000) but they also had a bankruptcy and foreclosure on their credit report.

Option 5: Sell Your Home on the Open Market - This is probably the most under utilized option available to you. The fact is selling your home will give you the most money in your pocket. Your home may be worth a lot more than you think! 
If you have recently been served with a foreclosure lawsuit you may have enough time to sell your home. This will provide you and your family with the greatest amount of money for a fresh start. 


Don’t procrastinate; explore all the options available to you. If saving your house seems unlikely, you should call me as soon as possible! Placing you home on the market a few weeks or a month from now may not give us enough time to find the buyer, arrange financing, and schedule the closing. Because of the time sensitive nature of your situation, this is not a time to go it alone as a “for sale by owner” or list your home with a friend.Option 6: We Can Buy Your Home - If efforts to save your home have been unsuccessful and time doesn’t permit selling your home on the open market or you just don’t want to, but want a quick sale with no problems, call me. I’ll make you a cash offer and close quickly usually in two to five days. If you need additional time to relocate, that can easily be arranged.

You have probably been swarmed by investors calling you and knocking on your door. If not yet, you soon will be. A Word of Caution, some investors are very aggressive and unethical. Some investors will tell you that “You only have one or two weeks before the auction and your furniture and possessions will be placed on the sidewalk or street.” This scare tactic is usually accompanied by a ridiculously low offer.
The fact is you have several months before that could happen, but this is not a time to sit back and relax. You should pursue one of the options available which make the most sense for your family. Don’t be rushed or scared into giving up your hard-earned equity. If a quick sale of your home is your goal, I can promise that I will treat you fairly, with dignity and complete honesty. If you are looking for a quick – no problem solution call me at 919-874-7539. 

Option 7: Let Your Home Be Sold on the Courthouse Steps - By far, the worst option available to you! Many people feel “I have no equity, let the bank take it”, but homes that are sold on the courthouse steps typically sell between 50% and 70% of their fair market value. Moreover, if a bank suffers a loss due to the pending foreclosure action against you, they also have an option. They can file a deficiency judgment against you and pursue you for the amount of their loss. 
Typically ten days after the foreclosure auction, a certificate of title will be issued by the courts to the new owner. If you have not voluntarily vacated your house at this time, you could be forced to move out within 24 hours.As with any serious legal situation the reader is encouraged to consult legal counsel regarding any points of law. This information should not be used as a substitute for competent legal advice. 

Perhaps I can help; I am a serious real estate agent with experience in the foreclosure process. If I may be of service in this matter, it would be my pleasure to do so. You may contact me at 1-800-498-1636 or 919-601-4478. You get a quick response with no hassles, no pressure, and your worries will be behind you. Don’t wait until it’s too late! You deserve a fresh start! We can keep the foreclosure off your credit records.  I am not able to help every one, but I will try! 

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