702-482-7739 - The Ballen Group, Las Vegas Short Sale Agents stops a Nevada Foreclosure. Wachovia Short Sale Closed

702-482-7739 - The Ballen Group stops a Nevada Foreclosure. Another successfully closed Wachovia Short Sale in NV.

The Ballen Group, Leading short sale agents in Las Vegas at Keller Williams Realty Las Vegas, have solved another short sale

 

The property on El Presidio was in default and the homeowner was facing Foreclosure in Nevada. After many negotiations with the bank with no solutions, the home owners contacted The Ballen Group to negotiate a Las Vegas short sale on their behalf. The process was not easy, but with the strong negotiating powers, problem solving and a comprehensive marketing process, Ballen achieved the difficult approval to close the home. As with all Las Vegas short sale approvals, there must be a ready & willing buyer to purchase the home at what the bank considers “fair market value” based on their appraisers values. The seller opted to short sale their home rather than allow a Las Vegas Foreclosure in hopes of having a better credit score and the ability to purchase Las Vegas Real Estate again in approximately 2 years. The great news here is that the entire NevadaShort sale Process only took a total of 48 days to close - Start to Finish.

The specific Short Sale Facts in this case are as follows. There was one Lien Holder – Wachovia. The Original List price was $249,900. The Sales Price was $249,900 with $7,430 in closing costs with a conventional loan. The deficiency was waived AND the seller received $3000 cash back. The first offer accepted was by the buyer who purchased the property. It took a total of 37 days to approve and 48 days total from list date to close date.

Sometimes, to avoid going through the costs of foreclosure, a bank will sanction a short sale by allowing a Buyer to purchase the home for less than the mortgage balance while the home is in pre-foreclosure stage. Pre-foreclosure state is the first of the three stages of foreclosures. NevadaHomeowners, who have either a Wachovia, World Savings or Golden West loan that is in danger ofNevada foreclosure, can be a candidate for the FAST TRACK Wachovia Short Sale Program inNevada. The new FAST TRACK program is quick and easy! First, we will place your home on theNevada Real Estate market with the proper exposure to place you in the best Nevada Short selling position. Next, we will put you in touch with the local Short Sale Manager assigned to your local area.

Benefits:
Delinquency not required. Verbal income and asset verification. No Deficiency liability against seller upon approval. Foreclosure process MAY BE STOPPED with valid buyer offer. Borrower can receive $2,500 for relocation assistance. Wachovia will also evaluate you for participation in the HAFA program. HAFA is the new set of short sale guidelines put out by Treasury Department which speeds up the short sale processing for certain types of loans- only applies to primary residences and homes which are not owned or guaranteed by FHA, Fannie Mae, Freddie Mac or VA.

Many are closing in 45 days or less with approval. (Loan must be a “proprietary loan”. Wachovia is the note holder not purely the servicer of your loan)
Richard Ballen, The Wizard of Las Vegas Short Sales, works his team magic and gets the deal done! For additional information on The Ballen Group and consulting with a Las Vegas Short Sale Specialist, Call 702-482-7739 or log on to http://www.TheBallenGroup.com

The Ballen Group

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702-482-7739 - The Ballen Group, Las Vegas Short Sale Specialists

The Ballen Group - Lori Ballen

3100 S. Durango #106

Las Vegas, Nevada

United States, 89117

Voice 702-604-7739 SELL 702-482-7739

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Las Vegas Short Sale Specialist, Las Vegas Short Sale Agent, Short Sale Nevada, Keller Williams 

~ STOP NEVADA FORECLOSURE ~ A Las Vegas Short Sale Specialist Can Help! 702.482.7739

Las Vegas Short Sale Specialist - Stop Nevada Foreclosure - http://www.ShortSaleinNevada.com

   702-482-7739 - Call the Las Vegas Short Sale Agents at Keller Williams Realty Las Vegas Today!

~ Monday's Listing Updates | Las Vegas Real Estate Agent | Keller Williams Realty Las Vegas

Monday's Listing Updates from The Ballen Group

Below you will find some listings that you may be interested in. If you like anything you see, don't hesitate to email or call with your questions. Keller Williams - The Ballen Group Office phone: 702.604.7739 Las Vegas Real Estate Agents and Short Sale Specialists Website: http://www.ballengrouphomes.com **SEARCH THE ULTIMATE LAS VEGAS HOMES SEARCH ENGINE NOW

SEARCH 1: All Properties for sale in Desert Shores - No Minimum Price to $500,000, 3+ Beds, 0+ Baths

8432 APPLE HILL CT LAS VEGAS, NV 3 beds/3 baths 2232 Sq. Ft. $170,000 ID #1114157 - Listing courtesy of Coldwell Banker Wardley RE More Photos FORECLOSURE 2009 SEDONA PATH WY LAS VEGAS, NV 4 beds/3 baths 2937 Sq. Ft. $247,500 ID #1164803 - Listing courtesy of Realty ONE Group, Inc More Photos

There are more listings matching this search

SEARCH 2: All Properties for sale in Summerlin South, Summerlin - $300,000 to No Maximum Price, 3+ Beds, 0+ Baths

657 RAVEL CT LAS VEGAS, NV 4 beds/5 baths 4414 Sq. Ft. $824,900 ID #1160350 - Listing courtesy of Great Bridge Properties More Photos 11593 GLOWING SUNSET LN LAS VEGAS, NV 4 beds/5 baths 4410 Sq. Ft. $895,000 ID #1173622 - Listing courtesy of Direct Performance Real Estate More Photos 40 SOARING BIRD CT LAS VEGAS, NV 4 beds/6 baths 7307 Sq. Ft. $3,290,000 ID #1139759 - Listing courtesy of New Homes Research More Photos

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This message was sent on behalf of The Ballen Group at Keller Williams Realty. Some of the information in this email is copyrighted by the local Multiple Listing Service. If you no longer wish to receive these emails, click here to update your email settings.

FHA SHORT SALE? Money Back on your Las Vegas Short Sale? Call us today

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

Considering a Short Sale?
- - - - Is your Mortgage FHA?

YOU MAY BE ENTITLED TO $1000 CASH BACK ON YOUR SHORT SALE!!!!Lately, FHA short sales are a great process. A very specific process has been established by HUD (Department of Housing and Urban Development) that is required to be followed when doing an FHA short sale. This causes the lenders to adhere to specific steps and moves the process along much easier.

WHAT IS IT - AND HOW DOES IT WORK?

1. FHA requires at least one of the owners to be occupying the home at the time of short sale. 
2. The seller MUST be at least 31 days delinquent on the loan.
3. The seller must inform the lender of intent and follow appropriate steps prior to accepting offers on the home. This is the pre-foreclosure program which allows the lender to order an appraisal. The appraisal then sets the fair market value of the property. The HUD form 90045 will state the appraised value and is issued to the seller.
4. The seller has 90 days to sell their home under agreement terms from the acceptance date into the pre-foreclosure sale program. During this time, the lender is required to postpone foreclosure proceedings.
5. The minimum net proceeds (this would be purchase price minus all closing costs, realtor commissions, liens and judments, etc.) to the FHA 1st mortgage is based on the time line below. NOTE: EXCLUSIONS TO CLOSING COSTS: The closings costs paid by the lender SHALL NOT include a home warranty, HOA delinquent dues, HOA transfer fees or the water/sewer escrow. The $1000 incentive to the seller may be used for these costs."As-Is" Appraised Value AND Lenght of Time From Date of Approval:

Less than 30 days = 88% 30-60 days = 86% 61+ days = 84%.

AND - HERE'S THE BEST PART - According to these guidelines FHA will issue $1,000 to the seller provided they are under contract AND CLOSE within this 90 day period! If the seller is under contract during the 90 day period, but fails to close until after the 90 days, the incentive is reduced to $750.000.


In the event that there is a payoff due to a junior lien holder (such as a mortgage payoff), FHA will allow up to $2500 to go to the lien holder, but the seller will forfeit the $1000.

If the buyer is using conventional financing, HUD will not pay buyer closing costs. If the financing is FHA, a maximum of 1% closings costs will be paid on behalf of the seller. Bidding up the purchase price to cover concessions will not be permitted. Again, the $1000 incentive may be used in these cases to achieve the balance required to close.

Think you might qualify? Would you like to discuss other mortgages and options for your short sale in Nevada? Would you like to speak with an attorney for FREE to discuss your options in regards to doing a Las Vegas Short Sale vs. A Nevada foreclosure? Get your FREE Las Vegas Short Sale Kit packed full of vital information pertaining to the Short Sale Process, Nevada Foreclosure, Pros and Cons, Hardship Package Information and more.

► ► ► FREE SHORT SALE KIT★ DON'T BLINK - YOU'LL MISS IT★

Contact The Ballen Group today to get help from an agent that specializes in your area.

The Ballen Group of Keller Williams Realty Las Vegas

Las Vegas Short Sale Specialists
3100 S. Durango #106
Las Vegas, NV 89117
(702) 482-7739

     

Las Vegas Short Sale Specialists
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~ Hardship Package for a Short Sale | Las Vegas Short Sale Agent | Keller Williams ~

 Las Vegas Short Sale Specialist, The Hardship Package - 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 Hardship Letter
The central document in the Short Sale package that will be submitted to the mortgage lenders that will be taking a loss in the Hardship Letter. The Hardship Letter provides the homeowner with an opportunity to state their case as to why they can no longer afford to make their mortgage payment.

The Hardship Letter should be any honest, heartfelt statement outlining the circumstances that have created the problem. It should include these components:
1. A brief apology for having to ask the lender to take a loss.
2. A description of the steps the homeowner has taken (used credit cards, borrowed from family, borrowed from retirement accounts) to stay current on the mortgage.
3. A clear statement that the homeowner has extended all available options to stay current on the mortgage and that a Short Sale is the only remaining option, other than foreclosure.

While it is important for the homeowner to provide a complete picture of their hardship, it is also important to avoid a letter that is excessively long. In order to get a loss mitigator to understand the hardship, the loss mitigator needs to read the letter and connect with the writer. Limit the letter to a manageable length. If possible, attach to the Hardship Letter any documents, receipts or notices that support the homeowners hardship.
Examples:

• Layoff notice
• Letter from employer outlining a reduction in pay or a reduction in hours
• Cancellation notices for medical insurance or auto insurance due to non payment
• Delinquency notices from creditors and/or services and utility providers
• Letters from doctors regarding injury or illness
• Disability benefits letter
• Divorce or separation papers 
• Receipt for excessive payments for medication or emergency payments 
• Any documents supporting a family crisis hardship

 

Borrower Hardship Letter Example #1

 

I am unable to keep current with my mortgage due to divorce. I am receiving no financial support from my husband and I have been a homemaker for the past 12 years. I am employed, but because of my lack of skills, I am unable to earn much more than minimum wage. I have two children at home ages 7 and 9. With the cost of daycare and my other obligations, there is just no way to make the mortgage payment. I have used up any available credit just to keep food on the table. I cannot keep up my home and must sell it. The real estate market is such that I owe more than my home is worth. My only other option would be to file bankruptcy. I am an honest, hardworking person and it is devastating for me to find myself in this awful position. I would deeply appreciate any help you can offer.

Sincerely,
 Borrower Hardship Letter Example #2
My wife has recently suffered a devastating illness. She is unable to continue working and it may be years before she is well enough to work. She has been the primary wage earner in our family for the past 10 years. My income cannot come close to covering our monthly expenses. We find ourselves deeper in debt every month with no relief in the foreseeable future. I have sold our second car and anything else we do not absolutely need. Our home is large and the minimum monthly expenses for the upkeep, electricity, gas, etc. are very high. Our only hope at this time is to sell our home. Unfortunately, if we sell our home in the present slow real estate market, we will be upside down about $30,000.00. Our only other alternative is bankruptcy. We would appreciate any help you are able to provide.
 Sincerely,
 Borrower Hardship Letter Example #3
As a result of upward adjustments to our monthly mortgage payment, my wife and I are unable to afford our mortgage. As I sit here today it’s not clear to me how I ever thought that we could afford the mortgage once payments started adjusting. I wish my loan officer would have explained to us where our monthly payments were going to be when they adjusted. We have borrowed money from family and we have taken cash advances on credit cards, but we are falling further and further behind with no real hope of affording the payment. At this point, we can’t do it any longer. Both my wife and I are very sorry that this has happened. We are losing our dream house, and we know you are losing too. We just don’t have any other options. Please work with us on a Short Sale. We don’t want to go through foreclosure, but if we can’t do a Short Sale, we will not be able to avoid it. Thank you for your consideration.
 Sincerely,
  

 

Contact The Ballen Group today to get help from an agent that specializes in your area.

   

  

  

  

The Ballen Group

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