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Avoid Foreclosure, Underwater? Need to know your Home’s Value, Las Vegas Real Estate Team specializing in Short Sales can help

Short Sale Questions Answered by Las Vegas Short Sale Specialist in Nevada – 702-482-7739http://www.ShortSaleinNevada.com – TO BUY A SHORT SALE – Log on to http://www.theballengroup.com/Buying_a_Short_Sale/page_2401586.html

FREQUENTLY Asked Questions on Las Vegas Short Sales and Pending foreclosure in Nevada
1.) Do I Qualify for a short sale in Nevada? If you owe more than your home would sell for – you qualify.

2.) I have enough money to pay the difference – Should I do a short sale? We suggest you contact your attorney or legal professional,
but you may want to consider paying off the difference to save your
credit or look into a loan modification. FYI – We have had people
approved even though they had the money in the bank.

3.) I have
been hearing a lot about loan modifications. Should I try one? Sure. If
you think you might qualify – why not? Word to the wise – USE YOUR
LENDER. It’s free. If your lender can’t do it – it can’t be done by some
guy who claims to be a “specialist in loan modifications” and charges
you $500 or more. The law actually states that NOBODY can charge up
front for Loan Modification services. If they try to charge you up front
– they are breaking the law. Is that who you would want trying to save
your home? If you feel you qualify for a loan modification or refinance,
we can point you to a licensed mortgage company. If you can’t qualify,
we can help you with the Nevada short sale process.

4.) Who pays the Las Vegas Short Sale Agent for their services? Good News! The bank pays us all commissions plus items the buyer may ask for such as closing costs.

5.) What is a hardship package and why do I need it? The Nevada Short Sale
hardship letter is to state your situation. The bank wants to
understand why you can’t make your payments and keep your home. A
hardship could be medical (physical or mental illness). It could be
divorce, death, relocation, loss or change of employment, addictions
causing money loss, taking care of sick parents, large amounts of child
support and so on. We can’t tell you what your hardship is, but these
are some we have seen approved. The rest of the package is simply a
combination of pay stubs, bank account statements, profit & loss
sheet, and tax returns. Some of these items are never requested from the
bank. It all depends on the bank.

6.) Can I short sale my home in Nevada and buy something more affordable? Maybe. There is talk that this may be some day be called mortgage fraud.

7.) How will the Las Vegas short sale
affect my credit. To find out an exact score hit and how your credit
will be affected, you will need to get professional advice from an
accountant and/or credit professional. It will affect your credit, we
are not licensed or trained in the credit department to tell you
specifics.

8.) How is a short sale better than a Las Vegas Foreclosure?
Again, a credit professional, accountant or legal professional can
better advise you, but we are told that with a short sale, you can buy a
home years before you could if you had a foreclosure on your record.

9.)Can the lender come after me? They
can if they choose. It depends on how their final approval letter is
written. You still have the choice to accept or deny their terms and opt
for the foreclosure or deed in leiu of foreclosure should you decide.
We have not seen collections personally, but we understand that the debt
can be sold to a collector if it is not written as settled. This can be
negotiated in the final stages of the short sale once a negotiator has
been assigned to your case.
 

Las Vegas Short Sales, The Ballen Group, Las Vegas Short Sale Specialist Team, Keller Williams Realty Las Vegas
  • Las Vegas Short Sales
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  • Award Winning Las Vegas Short Sale Specialist Team
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TO SELL – 702-482-7739

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~ Short Sale Las Vegas, Short Sale Agent Nevada, Short Sale Specialist, Las Vegas Short Sale ~

702.482.7739 – http://www.ShortsaleinNevada.com – When Ready to sell your Las Vegas Home – if you owe more than the mortgage, we can help. Call us to discussshort sale options. Las Vegas Short Sale Specialists with Keller Williams Realty Las Vegas. If you are looking to buy, feel free to use our Online Nevada MLS search and Property Finder at http://www.ForSaleByBallen.com – It’s FREE and Online NOW.


Yes, We are seeing a lot of Short Sales in today’s Las Vegas Real Estate Market. It is happening to your friends, your family, and maybe even you. Your home is not worth what it used to be. Las Vegas Short Sale Professionals are now calling it being “upside-down” in which you owe more on the mortgage than the house is now worth. If you can hang on through the slow market, great. If not -you may want to consider a Las Vegas Short Sale to avoid a foreclosure situation. A short sale is when the house or property is worth less than what is due on the mortgage. The bank (note holder) takes the loss, but not a such as a foreclosure process. A Nevada short sale is not always the best option for everyone. You need expert Las Vegas real estate short sale expert advice to decide on the pros and cons of a real estate short sale in Nevada. If you are even thinking of short selling your property, here are some positives and negatives to consider:
Positive

  • Avoid Foreclosure – Foreclosures can be a very hard and stressful process for everyone. It might take anywhere from six to twelve months even for a foreclosure to complete.
  • Being proactive – Facing your Las Vegas foreclosure will help give you some control over the process. By choosing a short sale, finding a buyer and negotiating terms with the bank, the huge effect on your credit score by a foreclosure can be dodged.
  • Start over faster – Minimizing damage to your credit score can help you get back on your credit feet faster. You’ll be eligible to purchase another house faster than if you entered foreclosure according to major lenders.
  • You might not owe anything after the Short Sale – Your agent can try asking the bank to cancel your debt altogether. It does happen, but not all the time.
  • You won’t need to pay large monthly mortgage payments
  • The bank may forgive the difference in debt between what you owe and the final price.
  • You can avoid the time consuming and traumatic foreclosure proceedings.
  • Your credit score will usually recover more quickly than a foreclosure
  • You are more likely to avoid bankruptcy
  • You may not be taxed on the debt forgiven.
  • If you are not able to pay the mortgage premium, or work with the lender on getting a loan modification, a short sale is probably the way to go…even though it means losing your home and investment.

Negative

  • There will be damage to your credit – When a short sale is completed, it is still recorded on your credit but should have a lesser impact as a foreclosure for most creditors. Although lenders will consider a short sale similar to a foreclosure, The chances of getting a home loan will still be slim for a bit.
  • Tax Consequences – Talk to your accountant to see if you qualify for the Mortgage Forgiveness Debt Relief Act of 2007, no taxes are owed on the forgiven debt.
  • Bank Could Demand a note or some payment – The bank is not forced to forgive the debt. They may ask you to pay them back for the difference on the sale and what is owed on the mortgage, but you’ll need to agree to this.
  • The mortgage holder/lender does not have to say yes to a short sale
  • You must prove a hardship that prevents you from making your payments.
  • A short sale is not short. The time depends on how quickly you and your agent put together the hardship package, and how quickly the lender reacts
  • Lenders are known for taking a while to approve short sales.
  • If your home has liens, each lien holder/lender must be consulted.
  • The successful transaction depends on a good offer from a good buyer.
  • The real estate agents involved will usually get a smaller commission.
  • You may be asked to sign a promissory note for the debt forgiveness for approval .
  • Lenders may seek repayment of the debt forgiven after the short sale is completed.
  • Your credit score is going to take a hard hit. Consult tax and legal advice.
  • You could be taxed. Consult a tax professional.
There are no promises or guarantees in a Las Vegas short sale whether the lender(s) will approve the short sale or forgive your debt, but Short Sales offer an alternative to the damaging effects of a Nevada foreclosure. A short sale is a complicated process for all parties involved. There are so many details involved (more than what the average homeowner is aware of). Make sure to consult a Las Vegas Short Sale Specialist with a proven history of success with short sales. For help with your Las Vegas Real Estate, Equity or Negative Equity – Contact Richard Ballen, (of The Ballen Group) – The Wizard of Real Estate. Richard will work Magic with your Las Vegas Short Sale, Henderson Short Sale, or North Las Vegas Short Sale. RICHARD GET’S THE DEAL DONE!

 

The Ballen Group
Las Vegas Short Sale Specialists
3100 S. Durango #106 (At Desert Inn)
Las Vegas, NV 89117
702-482-7739

Las Vegas Short Sale Specialists
View Listings View Blog


KWLV………The 3D Experience. Determined, Dedicated, Driven @Desert Inn and Durango – Click the link below to find out more about Keller Williams Realty Careers.

Set up your confidential interview with Keller Williams® today and join the fastest growing real estate company in North America!

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Las Vegas Real Estate Agent – Homes for sale in Nevada – Short Sale Listings – Las Vegas Short Sales

 

 

~ The Ballen Group offers Las Vegas Short Sale Services. Team of Short Sale Agents in NV ~

~ Las Vegas is on SALE and NOW is time to buy. Call The Ballen Group at 702-604-7739 right now to get started on your home search and determine your Purchase Power. We have lenders tanding by to work with you if you need financing for your home purchase. Spend some time shopping online at http://www.BallenGroupHomes.com where you can search homes JUST LIKE A REALTOR. Search for Las Vegas Foreclosures and Las Vegas Short Sales or avoid them both. Enter your criteria and receive new listings in your IN BOX before the rest of the world has a chance! Start with Us.

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Las Vegas REAL ESTATE AGENT offering Equity and Short Sale Help

The Ballen Group, 702-482-7739 or  http://www.TheBallenGroup.com , Las Vegas Short sale Agents who use a comprehensive Short Sale System, have closed another Las Vegas Short Sale saving the Nevada Homeowner from Foreclosure.

Sellers who followed their Las Vegas real estate agents advice on pricing sold their house 38 days faster than those who didn’t. Better yet, those sellers often sold for more money – almost $4,000 more for the average house.


We’d be happy to give you an estimate of what your home is worth in today’s market. Equity / traditional Sale or a Las Vegas Short Sale, We can Help.

Contact us for your FREE, No Obligation Comparative Market Analysis. And if you know of anyone looking to buy or sell a home, we can certainly help with that too.

The Ballen Group
http://www.BallenGroupHomes.com
sold@ballengrouphomes.com
702-482-7739

For help with your Las Vegas Real Estate, Equity or Negative Equity – Contact The Ballen Group – They will work Magic with your Las Vegas Short Sale, Henderson Short Sale, or North Las Vegas Short Sale. 702-482-7739
Each Office is Independently Owned and Operated

 

 

~ STOP FORECLOSURE ~ No upfront fee ~ Las Vegas Short Sale Specialists can help!

702-482-7739 to talk to a Las Vegas Short Sale Specialist today. The Ballen Group, Las Vegas Short Sale Agents with Keller Williams Realty Las Vegas can be found at http://www.TheBallenGroup.com

Do You Know a Homeowner Facing Nevada Foreclosure? Here’s A Way Out.

Headlines today are filled with stories about Nevada  homeowners in financial distress—people who face a  lender’s foreclosure on their home.

Millions of American home owners are wondering what to do. Like most crises, this one  has produced its share of rumors and misinformation. One of the biggest ones is “just l  let it happen.” Why fight back, this line of thinking goes. It’s too emotionally draining,  and the government’s loan modifications aren’t helping many people. Well, that’s only  partly true. While government loan modification programs have fallen short of the mark  so far, there is another solid, sensible option for homeowners. It’s called a short sale—  a sale to a buyer where the seller’s lender agrees to accept less than the full amount  owned.


Why not be foreclosed? Why sell short?
Agents who  have closed hundreds of these transactions provide  this list of reasons:

  • Avoid the foreclosure stigma – Homeowners will always have to disclose that they had a foreclosure on any mortgage application and (many job applications) that they submit in the future. This can have an adverse affect on their future mortgage rates. Foreclosure is asked about specifically in credit inquiries. There is no seven-year time limit on this item.
  • Protect credit score – Credit scores will be lowered by 300-plus points (per loan) by foreclosure. The impact of a short sale—about half that much.
  • Improve eligibility for a government insured loan – The homeowner will be ineligible for a government insured loan for 5-7 years (only two years in a short sale). A foreclosure is the one credit report item that is almost impossible to have repaired.
  • Avoid a deficiency judgment – Lenders can seek a deficiency judgment against the homeowner and collect any amount they do not recover at sale.
  • Protect employment prospects – Many employers run credit checks on prospective employees. Foreclosure is one of the top items that will put a potential new hire, or even current employment, in jeopardy.

These are the top reasons, but there are more. An expert short sale specialist agent can give a full picture of the options.


























Las Vegas Short Sale Specialist, Nevada Short Sale Agent, Las Vegas Real Estate Agent, Short Sale Homes in Nevada



  • Location: 702-482-7739
  • it’s NOT ok to contact this poster with services or other commercial interests
  • License info: Las Vegas Short Sale Agent – Richard BALLEN Wekerle Realtor

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~ Short Sale Hardship, Short Sale Package, Short Sale Las Vegas, Short Sale Agent in Nevada ~

702.482.7739 – http://www.ShortsaleinNevada.com – When Ready to sell your Las Vegas Home – if you owe more than the mortgage, we can help. Call us to discuss short sale options. Las Vegas Short Sale Specialists with Keller Williams Realty Las Vegas. If you are looking to buy, feel free to use our Online Nevada MLS search and Property Finder at http://www.ForSaleByBallen.com – It’s FREE and Online NOW.


Will you become the next Las Vegas foreclosure statistic? – Beware, Las Vegas Foreclosure may be pending.

· Have you missed your first house payment? Your finances have probably been worsened due to an increase in your mortgage payment, job loss or lowered wages, separation or divorce, medical bills, or maybe another reason.

· Are your credit card limits nearly maxed?

· Are you breaking out credit cards to fund your groceries?

· Is it increasingly more difficult to make your monthly bills?

If it’s becoming harder to make your house payment each month:


Contact a Realtor *702.482.7739* to discuss a possible Short Sale on your home.


People don’t usually think foreclosure will actually happen. Ignoring it will NOT make it go away.

A Typical Foreclosure Process – Note: Timeline varies by state.

First month missed payment – you will hear from your lender

– You may want to investigate the Short Sale Process

Second month missed payment – your mortgage holder will probably call you to find out where your payment is. Answer their calls. Talk to your bank and detail your hardship and what you are trying to do to better your situation. If possible make one payment to prevent yourself from falling 90 days behind.

 

– See your accountant, attorney, and/or Realtor about Las Vegas short Sale Options

Third month missed payment Your lender will send a Demand Letter or Notice to Accelerate letter detailing how much you are behind, and you must bring your mortgage current within 30 days. If a payment arrangement is not made , your bank will probably begin Nevada foreclosure proceedings. They may not accept less than the full amount at this time. You still have time to communicate with your lender and try to come to a resolution.

– A short Sale May Be your Option

Fourth month missed payment – You are running out of time. After the 30 day date specified in your letter, if you have not completed the payment in the full amount or worked out arrangements with the bank – your case will be referred to the lender’s attorneys. You will incur all attorney fees as part of your delinquency.

Sheriff’s/Public Trustee’s Sale – A Sale date is scheduled. This is the real day of foreclosure. You may receive a notice of the sale date in the mail. A notice will be placed on your door, and the sale may be posted in the local paper. BEFORE this sale date, if you want to stay in your home, you will need to be working on avoiding the foreclosure by making arrangements with your lender, or paying the total amount owed, including attorney fees.

Redemption Period – post sale date, there may be a redemption period. You will be notified of the details on the notice that Nevada uses for the Sheriff’s or Trustee’s Sale.

Important: If you know arrangements are not going to be made, and would like to unload your oversized mortgage without having a Nevada Foreclosure on your record – Contact Lori Wekerle and her Team of Nevada Short Sale agents to discuss Short Sale Help. They may be able to negotiate on your behalf to accept a “short” amount on your mortgage payoff. You would still lose your home, but without the Foreclosure nightmare. If the terms are not agreeable to you once the short sale terms are sent from the bank, you may still opt for the foreclosure vs. the short sale.

The Ballen Group
Las Vegas Short Sale Specialists
3100 S. Durango #106 (At Desert Inn)
Las Vegas, NV 89117
702-482-7739

Las Vegas Short Sale Specialists
View Listings
View Blog


KWLV………The 3D Experience. Determined, Dedicated, Driven @Desert Inn and Durango – Click the link below to find out more about Keller Williams Realty Careers.

Set up your confidential interview with Keller Williams® today and join the fastest growing real estate company in North America!

~ Short Sale Las Vegas, Short Sale Nevada, Short Sale Agent, Short Sale Specialist, ~

Short Sale Information from Las Vegas Short Sale Specialist in Nevada – 702-482-7739 – http://www.ShortSaleinNevada.com


FREQUENTLY Asked Questions on Las Vegas Short Sales and Pending foreclosure in Nevada

Take Action Any time by calling 702-482-7739 and requesting a las vegas short sale kit to start the process. Our informational sellers handbook is a clear guide to what the short sale process is and how it is handled by Lori (Ballen) Wekerle’s Team of Las Vegas Short Sale Specialists. Act Now – We Can Help!!

1.) Do I Qualify for a short sale? If you owe more than your home would sell for – you qualify.

2.) I have enough money to pay the difference – Should I do a short sale? We suggest you contact your attorney or legal professional, but you may want to consider paying off the difference to save your credit or look into a loan modification. FYI – We have had people approved even though they had the money in the bank.

3.) I have been hearing a lot about loan modifications. Should I try one? Sure. If you think you might qualify – why not? Word to the wise – USE YOUR LENDER. It’s free. If your lender can’t do it – it can’t be done by some guy who claims to be a “specialist in loan modifications” and charges you $500 or more. The law actually states that NOBODY can charge up front for Loan Modification services. If they try to charge you up front – they are breaking the law. Is that who you would want trying to save your home? If you feel you qualify for a loan modification or refinance, we can point you to a licensed mortgage company. If you can’t qualify, Richard Ballen, The Wizard of Real Estate, can help you with the short sale.

4.) Who pays the Realtor for their services? Good News! The bank pays us all commissions plus items the buyer may ask for such as closing costs.

5.) What is a hardship package and why do I need it? The Short Sale hardship letter is to state your situation. The bank wants to understand why you can’t make your payments and keep your home. A hardship could be medical (physical or mental illness). It could be divorce, death, relocation, loss or change of employment, addictions causing money loss, taking care of sick parents, large amounts of child support and so on. We can’t tell you what your hardship is, but these are some we have seen approved. The rest of the package is simply a combination of pay stubs, bank account statements, profit & loss sheet, and tax returns. Some of these items are never requested from the bank. It all depends on the bank.

6.) Can I short sale my home and buy something more affordable? Maybe. There is talk that this may be some day be called mortgage fraud.

7.) How will the short sale affect my credit. To find out an exact score hit and how your credit will be affected, you will need to get professional advice from an accountant and/or credit professional. It will affect your credit, we are not licensed or trained in the credit department to tell you specifics.

8.) How is a short sale better than a Las Vegas Foreclosure? – Again, a credit professional, accountant or legal professional can better advise you, but we are told that with a short sale, you can buy a home years before you could if you had a foreclosure on your record.

9.)Can the lender come after me? They can if they choose. It depends on how their final approval letter is written. You still have the choice to accept or deny their terms and opt for the foreclosure or deed in leiu of foreclosure should you decide. We have not seen collections personally, but we understand that the debt can be sold to a collector if it is not written as settled. This can be negotiated in the final stages of the short sale once a negotior has been assigned to your case.

ACT NOW and LET US HELP YOU!


702.482.7739 – http://www.ShortsaleinNevada.com – When Ready to sell your Las Vegas Home – if you owe more than the mortgage, we can help. Call us to discuss  short sale options. Las Vegas Short Sale Specialists with Keller Williams Realty Las Vegas. If you are looking to buy, feel free to use our Online Nevada MLS search and Property Finder at http://www.ForSaleByBallen.com – It’s FREE and Online NOW.

 

The Ballen Group – Las Vegas Short Sale Specialists

North Las Vegas Short Sales, Henderson Short Sales

3100 S. Durango #106 Las Vegas, NV 89117
(702) 604-7739

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