From the category archives:

Short Sales

Closing A Short Sale

Short sales can easily take two to three times longer to complete than a traditional real estate transaction. Keeping this in mind it makes sense to be well prepared if you need to short sale a Massachusetts home. Follow the outline below and you will be well on your way to increasing your chances that you will end up at a closing table.

Hire A Realtor Who Closes Short Sales

Massachusetts Short Sale RealtorChoosing a Realtor who understands the short sale process is a critical one. On of the biggest stumbling blocks to short sale success is hiring any ole real estate agent to represent your interests in a short sale. Trust me there are Realtors taking short sale business who are absolutely clueless. Even though it is against the code of ethics for a Realtor who has no knowledge of short sales to list them, it happens all the time. In other words don’t choose the short sale Realtor pictured to the right!

Some of the first steps of a Realtor representing a short sale candidate include:

  • Conducting a thorough interview of the short seller
  • Establishing whether there is a valid hardship
  • Determining lender/lenders
  • Figuring out approximate remaining mortgage balance
  • Determine what type of loan i.e FHA, Conventional or Fannie Mae
  • Finding out if the seller is in default
  • If so finding out how long in default
  • Figure out if the seller is motivated and cooperative

If the short sale agent you are interviewing is not asking these questions then this could be the first clue this Realtor is not the right agent for the job! Once an agent has done their home work on the seller and has gone ahead with listing the home for sale, they then have to perform the function of finding the right short sale buyer. Finding the appropriate buyer in a short sale is a lot different than a standard real estate sale. You MUST have a buyer that understands the short sale process and is completely invested in the home.

What does invested mean? You want a buyer that is willing to wait the time it takes to complete a short sale and also go ahead with completing their responsibilities just like any other real estate transaction. Responsibilities include getting a home inspection done, signing a purchase and sale, and procuring financing. All of these things should be done prior to short sale approval NOT after. One of the biggest reasons short sales do not close is because of the Realtor not understanding how to properly represent a seller.

Work With An Attorney Who Closes Short Sales

Massachusetts Short Sale AttorneyThe attorney you use in your short sale can have a huge impact on whether or not you get to the closing and also get your desired terms. Just as a real estate agent should have experience in closing short sales so should the attorney if you have one. By the way in my opinion it is vital to have an attorney representing your interests in a short sale!

A real estate agent should not be practicing law which is exactly what happens when you have a Realtor who negotiates a short sale contract and approval letter. Luckily for me I have one of the best short sale attorneys in Massachusetts representing all of my clients! Here are some of the things a good Massachusetts short sale attorney will be doing to get short sale approval:

  • Understand and maintain lender guidelines
  • Secure forms for each lender and/or servicer
  • Run a title exam on the seller’s property
  • Identify any liens and/or encumbrances
  • Identify all individuals on deeds and mortgages

Complete Short Sale Package

Short Sale PackageOnce these things are done the short sale attorney will assist in sending a complete “short sale package” to the lender. The short sale package that is submitted to the lender will include the following items:

  • A short sale “hardship letter” which will explain to the lender why the seller needs to complete a short sale
  • The seller’s tax returns from the prior two years
  • The seller’s current pay stubs
  • An authorization letter from the seller stating the attorney will be communicating and receiving lender docs on their behalf
  • The listing agents contract and purchase and sale if available

The completeness of the short sale package is vital in a short sale and often times can hold things up if the lender does not have all the documentation when they ask for it. A good attorney confirm the lender has everything they need when asked for it. Often times negotiators will claim they never received documentation that was already sent. The attorney will also keep all seller financial information updated and forwarded to the lender every 30 days or as they require.

One of the biggest roles the attorney has is maintaining a constant line of communication with the lenders negotiator. When a negotiator asks for a document the attorney needs to jump on it right away.

Short Sale Negotiation

Successful Short Sale NegotiationFrom a seller’s point of view there is nothing more important than short sale debt removal. Whoever is negotiating the short sale for the seller plays the biggest role in a seller’s financial future. Again I would never recommend using a real estate agent to negotiate a short sale.  The attorney I use negotiates on my seller’s behalf and looks to get the best deal possible from the lender/investor.

For example lets assume for a moment that a seller is $75,000 short at closing. The role of the attorney would be to try to get the $75,000 short sale deficiency eliminated! Today it is a lot harder to get a short sale debt completely removed but that is the goal. In many cases the lender will not agree to a complete debt removal but will accept either a cash contribution at closing or ask the owner to sign a promissory note. In short sales the amount that a lender typically tries to collect is pennies on the dollar.

While every short sale is different, using the example above a lender could ask an owner to bring $5000 to closing and agree to waive the remaining $70,000 balance. Often times in a short sale an owner has absolutely no cash and it would be impossible for them to contribute anything at closing. In this case the lender may ask for a $15,000 note be signed at favorable terms. Again these figures are just examples but show the type of monetary contributions lenders ask for. Keep in mind lenders will check your finances and know when they can’t get blood out of a stone. One the flip side if they see you have money to contribute, the likelihood is strong they will ask for something.

Aside from the negotiation of the dollar amounts the short sale attorney should also be looking to eliminate the possibility the lender can come back after you in the future for any remaining mortgage balance. This should be completely spelled out in the short sale approval letter.

Short Sale Obstacles

Short Sale ObstaclesBefore you ever get to the negotiating table with a lender there can be obstacles that pop up along the way. One of the most common short sale problems is disputes over value with lenders. This is one of the more common issues and can easily derail the short sale if you are not familiar with how to tackle the problem.

In every short sale the lender will send out a representative who will evaluate the current market value. This is either done by an appraiser or another real estate agent. They will do an analysis of value and report their findings back to the lender. The lender unfortunately can treat this value as “gospel”.  You are at the mercy of whatever the agent or appraiser has to say as far as value goes.

Here is where the biggest problem occurs. Most of the time it is not an appraiser that will do the evaluation but a real estate agent that the lender chooses. Here is the rub. The agent who does this work for the lender generally gets paid $40-80 dollars to do hours worth or work evaluating the properties value. Can you guess what type of agent has the time or inclination to work hours and only get paid $40-80 dollars. If you guessed bottom of the barrel then you are right on the money. Sometimes the agent isn’t even from the area and knows nothing about local value and differences between neighborhoods. Pardon the French but it can be a real shit show.

When a lender is given an evaluation that does not make sense they will counter offer at some ridiculous value that makes absolutely no sense. This is where a skilled short sale agent comes in that knows how to dispute a foolish evaluation given by some nit wit who is practicing real estate part time on the side. I kid you not this happens far too often!

Picking the right short sale Realtor and attorney is a vital part of short sale success!

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About the author: The above Real Estate information on how to achieve short sale success was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Bill has helped people move in and out of many Metrowest towns for the last 26+ Years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

I service the following towns in Metrowest MA: Ashland, Bellingham, Blackstone, Douglas, Framingham, Franklin, Grafton, Holliston, Hopkinton, Hopedale, Medway, Mendon, Milford, Millbury, Millville, Natick, Northboro, Northbridge, Shrewsbury, Southboro, Sutton, Wayland, Westboro, Whitinsville, Worcester, Upton and Uxbridge MA.

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Buyer’s Agent Representation For Short Sales

 

Massachusetts Short SalesIn every real estate transaction I am a firm believer of a buyer having representation. It makes perfect sense for a home buyer to have someone in their corner giving them guidance. Unfortunately when it comes to short sales I have found that so many buyer’s agents are not properly educated enough to do a proper job.

Short sales are not ordinary real estate transactions and as such an agent who has no knowledge should no even consider getting involved with one unless they have another agent who does mentoring them. While representing home owners who have needed to short sale their property over the last seven years I have noticed time and again real estate agents who don’t even understand the basics of short sales. If you are a buyer and are considering purchasing a short sale I am going to go over some of the basics below on what you need to understand before entering into one of these transactions.

Short Sales Take Time

Short Sale Closing TimeIf you are considering buying a short sale the first thing you need to understand is that they take far longer to purchase than a non-short sale. On average it takes around 90-120 days to get short sale approval. In some cases it can be a lot longer! For example if there is more than one loan on the property and both are “short” then you will need to get approval from both lenders. This will add time to the overall process of getting to the closing table.

It is also possible that the original  mortgage the owner had on their home was an FHA loan. If that is the case than you can prepare yourself for an even longer journey. As crazy as it sounds, it is quite possible it could take 6-9 months or longer to get to the closing table with an FHA loan. This is obviously a question your buyer agent should be asking right up front. Guess how many buyer’s agents have asked me this question over the last seven years? If you said zero you would be correct!

On some short sales Fannie Mae or Freddie Mac is the investor holding the note. There are many buyer’s and agents who will ask the question who is the lender? Lets assume for a minute the lender is Bank of America (BOA). That does not mean that Bank of America is necessarily the decision maker. They may not actually own the note and are just the “servicer”  for the investor.

There could be 20-30 investors that own notes that BOA services. This is one reason why one BOA short sale could be a nightmare and the next smooth sailing.  This is true of most lenders not just BOA. On some loans there could also be mortgage insurance in which case the insurer also has to approve the short sale. Are you starting to get the picture here? Short sales are one big bureaucratic mess. If you were thinking that short sale approval was as simple as  some dude was sitting behind a desk making decisions then you are wrong!

The long and short of all this is that a buyer’s agent should not get a buyer involved with a short sale transaction unless they have the time to see it through until the end. Keep in mind that a seller going through a short sale is in a tough financial position. The last thing they can afford is an uneducated buyer thinking it is fine to bail on them after a month because they are tired of waiting for a short sale approval to be issued.

Be Prepared To Spend Money

Short Sale InvestmentIn every real estate transaction there is risk. When you purchase a home some of the typical expenses a buyer should be prepared for are home inspections, hiring a lawyer for contract review, and applying for a mortgage. In many short sales I see buyer’s agent’s trying to structure the contract such that the buyer does not have to spend money on any of these things until there is short sale approval.

Sure it would be nice to go around in life to never have any risk in anything you do but that is not how it works when purchasing a short sale. Well actually let me rephrase that. This is not how it works in any short sale where I will be representing the seller! The goal in any short sale is to actually get to a closing. When you try to change the rules of real estate you increase the likelihood you will not be closing. There are reasons why a buyer should get their home inspection done, why they sign a binding contract and why they procure their financing prior to short sale approval. For a complete explanation of why a buyer should complete these tasks up front see reasons to reject short sale offers.  Being educated on the entire short sale process is vital.

Interview The Listing Agent

Massachusetts Short Sale RealtorsWhy on earth would you want to interview the listing agent you may be thinking? The answer is real simple….you want to be able to find out what the chances are that you will actually close on the home you are interested in purchasing. Closing short sale transactions are far more complex that a regular sale. The listing agent in a short sale should have experience closing them! This can not be emphasized enough. There is nothing more important in a short sale than the listing agent having a track record of success.

For example if the listing agent allows you to do a home inspection after short sale approval do you really think they have any clue what they are doing? Would they be representing their clients interest to allow this? Do you think there would be plenty of short sales that bit the dust right before closing if this was allowed?

Here is a detailed list of short sale questions for a listing agent. These questions should be able to help you get a better grip on whether or not the Realtor knows what they are doing. You should at the very minimum be finding out how many short sales they have listed and how many of those have closed. You should also be making sure that if your offer gets accepted the seller signs it and the home is taken off the market. Remember without a signed contract, the seller can accept a better offer from someone else.

Short Sale Low Ball Offers

Massachusetts Short Sale GambleIf you think short sales are an open invitation for you to offer some ridiculous price then you are wrong. The chances of a lender accepting something significantly under value is slim to none. What buyer’s agent and buyer’s need to understand is that the lender is going to verify that the offer the seller has accepted makes fiscal sense. The lender will either send out an appraiser or another real estate agent who will do an analysis of value on the home and send that back to the lender. The lender will use this information to form the basis of their decision on whether to accept, reject or counter offer.

It makes no sense for an owner to accept a low ball short sale offer. When a seller does this they have taken their home off the market for months and are almost assured that they lender will say NO! For a seller to accept a low ball offer would essentially be gambling away any chance they have for short sale success.

A short sale should be a decent value and more often than not slightly under market for what a similar property should sell for. Don’t expect the world though. Lenders are much tougher today with value and getting the most they can.

Short Sales Are “As Is”

Short sales are generally as is transactions. Don’t expect a seller to go out and make repairs after doing a home inspection. The whole reason they are doing a short sale to begin with is because they don’t have the financial means to keep the home. If you happen to do a home inspection and there is a major defect that you were not expecting what you should try to do is negotiate a lower sale price.

The listing agent will want to document the defect to the lender. They will do this by providing the inspection report to the appraiser or real estate agent who does the evaluation on their behalf. Do not expect to negotiate a bunch of silly “punch list” type of items from a home inspection. Go into the sale with an open mind knowing you will need to do some work.

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About the author: The above Real Estate information on educating a buyer looking to purchase a short sale was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Bill has helped people move in and out of many Metrowest towns for the last 26+ Years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

I service the following towns in Metrowest MA: Ashland, Bellingham, Blackstone, Douglas, Framingham, Franklin, Grafton, Holliston, Hopkinton, Hopedale, Medway, Mendon, Milford, Millbury, Millville, Natick, Northboro, Northbridge, Shrewsbury, Southboro, Sutton, Wayland, Westboro, Whitinsville, Worcester, Upton and Uxbridge MA.

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Negotiation With Short Sale Lenders

Short sale negotiationsIn working in the short sale arena for the last five plus years, I have seen lenders do just about everything when it comes to negotiating short sales with home owners. There really is no “standard” in short sales. The way one short sale file at one particular lender is handled can be totally different on the next.

One of the biggest reasons for this is that every lender has different investors that actually own the loans. There could be more than twenty five different investors that have interests in loans at one lending institution. So for example just because Bank of America may have done something for a home owner in one circumstance does not mean they would do the same thing for another home owner in the exact same circumstance.

More often than not this is because one investor may not have the same needs or requirements as another investor.

There are basically three scenarios for a seller when completing a short sale. They are a:

  • Cash contribution to the lender at closing.
  • Signing a promissory note to pay back some portion of the short sale debt.
  • A combination of these two things.
  • A complete debt removal.

The biggest consideration for most home owners completing a short sale is debt removal. My goal of course in any short sale is to get the most favorable terms and conditions for the seller which is a complete debt removal. Going back five years ago getting complete short sale debt removal was a lot easier than it is today. Many lenders today want sellers to have some kind of  “skin in the game” if they are going to grant a short sale.

In my experience the terms that most home owners get from short sale lenders is very favorable. Home owners are typically asked to bring a cash contribution or sign a note that basically amounts to pennies on the dollar compared to what they owe.

A typical scenario could be a home owner being substantially under water…..for argument sake let’s say $100,000. It would not be unusual for a lender to ask the seller to bring $5000 to the closing and letting the short sale take place. Another possibility if the seller does not have $5000 is to work out a promissory note. Maybe the lender asks for a$15,000 note to be paid back over the next five years at an attractive interest rate. As mentioned previously it could be a combination of these two options. These are just quick examples to give you an understanding of what happens in the short sale world on a daily basis.

There can be circumstances although not real often, where the lender will only accept a cash contribution in order to close. The short sale lender may have this requirement for one of the following reasons:

  • The seller has money in liquid accounts.
  • The seller has not been late with any mortgage payments.
  • The cash contribution is a requirement of waiving the deficiency (debt removal).
  • The seller has a good credit score and are current with other debt.
  • The residence is an investment property.

One of the most difficult parts of going through a short sale as a seller is the long wait involved from the time you get an offer from a buyer until the time you actually begin negotiations with the lender. Sometimes there can be months in between the two. As a seller it is easy to feel in the dark and helpless. There can be times where you will be in this waiting game wondering what the lender is going to require of you and then their request finally comes. They ask you for a cash contribution that you just don’t have.

I have an outstanding short sale attorney that works on behalf of the seller with all of my short sale transactions. In a circumstance where the lender asks for a cash contribution that the seller just can’t come up with the first course of action will be to try to work out an amicable compromise with the lender/investor. This would typically be one of the following:

  • Negotiate to get the cash contribution lowered to something the seller was able to bring to closing.
  • See if the seller can get the funds from a family member or borrow from them.
  • Try to get the lender to accept a promissory note instead.
  • Ask the buyer to pay the cash contribution if lender allowed this to occur.

Short sale cash contributionIn the vast majority of the short sales I have been involved in we have been able to work it out so a compromise was reached and everyone got what they wanted. Should sale negotiations can be difficult at times but if you know what your doing common ground can often be reached.

What would you need to do in the rare instance where a large cash contribution was required that the owner just did not have and the lender would not budge? If all else fails what you would need to do in the scenario above is to put the home back on the market and build in a cash contribution to the lender right into the transaction.

So for example you would add a cash contribution for the lender on behalf of the seller on line 104 of the buyer’s side of the HUD settlement statement. You would also place the same contribution on line 404 of the seller’s side of the HUD as a “Cash Contribution To The Lender”. The  payoff amount would then go to the lender.

This is how short sale negotiations work with lenders. If you know what you are doing you can usually find common ground. Of course there are numerous things to look for in a short sale contract which I have covered in a number of articles I have written.

Other short sales articles worth a look:

If you are need to short sale your home or condominium in Ashland, Bellingham, Blackstone, Douglas, Framingham, Franklin, Grafton, Holliston, Hopkinton, Hopedale, Medway, Mendon, Milford, Millbury, Millville, Natick, Northboro, Northbridge, Shrewsbury, Southboro, Sutton, Wayland, Westboro, Whitinsville, Worcester, Upton and Uxbridge MA.

I am successfully completing short sales through out the Metrowest Massachusetts and Worcester County areas. So far, knock on wood, I have a 100% success rate for short sale approval! Short sales are specialized transactions that are critical to have the right Realtor representing you. Do not make the mistake of picking an agent that does not understand how to get to the closing table on a short sale. Nationally less than 30% of all short sales close!

If you are outside of the Metrowest Massachusetts area and need to do a short sale please feel free to contact me and I would be happy to refer you to a Realtor in your location that handles short sales and knows what they are doing! I have referred short sales to other Realtors all around the country.

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About the author: The above Real Estate information on Short sale negotiations – seller cash contributions was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Bill has helped people move in and out of many Metrowest towns for the last 25+ Years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

I service the following towns in Metrowest MA: Ashland, Bellingham, Blackstone, Douglas, Framingham, Franklin, Grafton, Holliston, Hopkinton, Hopedale, Medway, Mendon, Milford, Millbury, Millville, Natick, Northboro, Northbridge, Shrewsbury, Southboro, Sutton, Wayland, Westboro, Whitinsville, Worcester, Upton and Uxbridge MA.

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Short sale or foreclosure?It is probably safe to assume that most consumers like to work with folks they know can be trusted. In Real Estate, like some other businesses there are those that can always be counted on for delivering great advice and others that only care about their own pocket book.

I always tell people some of the best Real Estate agents are those that don’t NEED to make a sale! It makes perfect sense because an agent that NEEDS business is far more likely to tell a buyer or seller something they want to hear rather than the truth.

Short sales unfortunately are a specialized Real Estate transaction where information is often times bandied about with no basis of fact. Many Realtors blindly go around telling people in financial distress that a short sale is better for their financial future because their credit score will not be impacted like going through a foreclosure.

Folks this could not be further from the truth! While there are certainly advantages of pursuing a short sale vs foreclosure, credit scoring is NOT one of them. There will be plenty of Realtors that will read this and argue with me telling me I am wrong.

As a Realtor who is tech savvy and social media connected you will see many of my articles in places such as Linkedin, Twitter and other Real Estate forums.

They will see some of my short sale articles and flat out tell me that I have incorrect information. When I mention the credit scoring impact of a short sale compared to a foreclosure is just about the same they scowl in disbelief. They will tell me I don’t know what I am talking about because they just learned differently at some short sale course their local Real Estate board was putting on. At this point I will be laughing because the people that teach these courses are usually Realtors that couldn’t make it in the business. They teach this nonsense because it is propaganda that helps get Realtors more business.

By now you are probably thinking how do I know the credit scoring impact is similar in these two financially stressful events. You have every right to be wondering! I know because I go right to the source. My FICO is the governing body for credit scoring including what happens in both a short sale and foreclosure.

Short sale vs foreclosure credit scoring impacts

Since I am often getting challenged on the credit scoring impacts by other Realtors and get asked all the time by my clients, I am going to share a very interesting study that was conducted by Fair Issac corporation.

The FICO study took various types of mortgage delinquencies on three credit bureau profiles of consumers that had scores of 680, 720 and 780, respectively. The study focused on consumers whose credit characteristics (e.g., utilization, delinquency history, age of file) were typical of the three score points considered. All of the consumers had an active currently-paid-as-agreed mortgage on file.

Results of this credit scoring study are shown below. The first chart shows the impact on the credit score for each stage of delinquency and the second shows how long it takes the score to fully “recover” after the fact including a short sale or foreclosure.

Credit Scoring Short Sale vs ForeclosureWhat you can easily see by this  study is that there is a negligible difference in credit scoring when comparing a foreclosure or short sale. While it seems unfair, those that had a higher credit score to start will see a greater scoring drop. In addition, the higher starting score, the longer it takes for the score to fully recover.

While there is a minimal difference in scoring impact between moderate and severe delinquencies, there may be a significant difference in time required for the score to recover completely.

These statistics are right from the guys that make credit scoring. They are not opinions. This is actual data that was put together and sourced by FICO themselves.

Benefits of a short sale vs foreclosure

So what are the benefits of going through a short sale rather than letting a lender foreclose on your property? The biggest advantage is that you will be able to buy another home in the future a lot quicker than you would with a foreclosure. Generally speaking the turnaround time for getting another loan after completing a short sale is two to three years. In a foreclosure it is typically five to seven years. There are a number of circumstances that can affect the time frame including whether the loan is FHA, Fannie Mae or Freddie Mac. For a complete financing guide see buying a home after short sale or foreclosure.

One of the other big factors you need to consider is your employment status. There are a number of large companies that will not hire a new employee that has a foreclosure on their resume. While this may not seem fair with all the financial turmoil that has taken place over the last five years, employers look at a foreclosure as a black mark on your record. In other words when you short sale a property you are owing up to a financial commitment. In a foreclosure you are walking away and taking no responsibility for your debt.

The last reason why more and more will choose a short sale over a foreclosure is just the sheer embarrassment of going through a foreclosure proceeding. In some states an auction is held right on the front lawn of the property. Who wants to lose their home and then have salt rubbed in the wound by watching a bunch of buyers compete over it. This is an unsettling experience for most.

The goal of almost anyone that goes through a short sale or foreclosure will be to improve their financial stability moving forward. Of course improving the impact a short sale or foreclosure had on their credit scores will typically be one of the first areas that people look at once they are back on their feet. There are certain things you can do to help fix your finances after a short sale or foreclosure that are covered in this helpful article.

Unfortunately, sometimes people just don’t realize they have options and just lose their home to foreclosure. Many have never taken the time to do any research and just assume there are no alternatives. A short sale can be a great alternative for some home owners – best of luck if you are one of them!

If you are need to short sale your home or condo in Ashland, Bellingham, Framingham, Franklin, Grafton, Holden, Holliston, Hopedale, Hopkinton, Medway, Mendon, Millbury, Milford, Southboro, Westboro, Natick, Northboro, Northbridge, Whitinsville, Upton, Uxbridge, Shrewsbury, Sutton, or Worcester get in touch! I would love to interview for the chance to represent your short sale transaction.

I am successfully completing short sales through out the Metrowest Massachusetts and Worcester County areas. So far, knock on wood, I have a 100% success rate for short sale approval! Short sales are difficult transactions that are critical to have the right Realtor representing you. Do not make the mistake of picking a Real Estate agent that does not have experience closing short sale transactions.

If you are outside of the Metrowest/Worcester Massachusetts area and need to do a short sale please feel free to contact me and I would be happy to refer you to a Realtor in your location that handles short sales and knows what they are doing! I have referred short sales to other Realtors all around the country.

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About the author: The above Real Estate information on Credit scoring impacts of short sale vs foreclosure was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Bill has helped people move in and out of many Metrowest towns for the last 25+ Years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

I service the following towns in Metrowest MA: Ashland, Bellingham, Blackstone, Douglas, Framingham, Franklin, Grafton, Holliston, Hopkinton, Hopedale, Medway, Mendon, Milford, Millbury, Millville, Natick, Northboro, Northbridge, Shrewsbury, Southboro, Sutton, Wayland, Westboro, Whitinsville, Worcester, Upton and Uxbridge MA.

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Fixing Your Finances After Foreclosure or Short Sale

August 15, 2011

There are not many things that can negatively impact your credit score more than a foreclosure or short sale. In fact one of the more common untruths you will hear from many Realtors is that short sales don’t impact your credit scores like foreclosures do. This is absolutely WRONG! If you fail to pay your [...]

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8 Reasons Why You Will Not Buy My Short Sale Listing

May 5, 2011

One of the grossly misunderstood topics in Real Estate is the short sale transaction. There are a large number of Realtors who unfortunately do not possess the knowledge to properly educate their clients on what should be expected of them when trying to make a short sale purchase. The problem is further exacerbated because there [...]

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Buying a Home After Short Sale or Foreclosure

March 21, 2011

As a Realtor who has been heavily involved closing Massachusetts short sales over the last five years, one of the questions that I get asked quite often from home sellers is how long will it take before I will be able to buy a home again. The answer to this question does not have any [...]

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Short Sale Realtor Mistakes

February 16, 2011

As a Realtor who has been successfully completing short sales over the last four years I get to see quite a bit of the inner workings of a short sale transaction. In many of the articles I have written about short sales, I have expounded on how important it is for a seller to have [...]

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Lenders Choosing to Foreclose Instead of Short Sale Approval

February 7, 2011

Why would a lender foreclosure instead of approving a short sale? As a Massachusetts Realtor who deals with short sale transactions on a daily basis, I have seen and learned quite a bit since I started getting involved with these types of transactions four years ago. One thing that I am extremely proud of is [...]

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Short Sale Low Ball Offers

January 10, 2011

There is no question that short sales are like the wild West. Almost every single sale is different. Each lender and even the investors that hold the loan may have different procedures on how they want things done. There are some folks that believe that because a home is a short sale it is an [...]

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