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Real Estate Match Maker Review – Preston Ely

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The Honest Real Estate Matchmaker Review – Preston Ely

Preston Ely Match Maker ReviewWe decided to go ahead and write a real estate match maker review because of all the buzz going on about Preston Ely’s real estate match maker software.  There are some really good things that we like about real estate matchmaker and some not so great things.  It will be important to read this real estate match maker review to the end so you can determine for yourself if this program is right for you. [Read more…] about Real Estate Match Maker Review – Preston Ely

What Happens After Foreclosure

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what happens after foreclosureQuestion:  WILL YOU EXPLAIN WHAT HAPPENS AFTER FORECLOSURE… I HAD A FORECLOSURE SINCE 2008 BUT I STILL GOT A LETTER FROM COLLECTION FOR THE AMOUNT I OWED FROM MY HELOC. MY QUESTION IS HOW COME THEY DID NOT SEND ME A 1099 FORM LIKE MY FIRST MORTGAGE DID ONE YEAR AFTER FORECLOSURE.

Answer:  -This is a great question but first lets look at the foreclosure process because I think it will help you understand why this happened.

Here’s What Happens After Foreclosure

After the foreclosure process, or lets say auction, a couple of things happen depending on what state you live in and what kind of liens were on the property. [Read more…] about What Happens After Foreclosure

Buying A Short Sale

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Buying a Short Sale – Is it a Good Idea?

Thinking about buying a short sale? But not quite sure what’s involved? Well after you read this you know for sure if this is what you want. Buying a short sale sounds good and all, but believe it or not, most homeowners are just not patient enough.

A short sale is when the bank takes less than what is owed on the property in order to sell the property before it goes to auction. This helps the bank so they can eliminate excess inventory and shave costs associated with all the foreclosure fees. It also helps the homeowner avoid having a foreclosure on their credit and they can start over fresh. So it helps out both parties when a short sale is accepted. [Read more…] about Buying A Short Sale

Short Sale vs Foreclosure

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short sale vs foreclosureQuestion:  Help me understand the difference between a short sale vs foreclosure. I bought a condo in Tampa, Florida in September 2005. This was my first real estate purchase and my primary residence until I transferred to Maryland for my job in July 2008. I have a first mortgage for $150k and a HELOC for $25k. The property has been short sale approved and there is a buyer that is going to purchase it for the listed price of $60k. We are ready to close but I need to pay all the delinquent HOA fees, late fees and attorney fees that have mounted up. I can not afford to pay the $3000 in late HOA fees to close on the short sale. Now, I am facing foreclosure. I have asked the HOA to waive the late fees and attorney fees so I can do a short sale but they are refusing. Is it worth it to borrow the money from friends and family so I can do a short sale, or should I just let the condo go into foreclosure?

Thank you,

Natasha

Answer:  -This is a common question that gets asked a lot about the difference between a short sale vs foreclosure. While both are damaging to your credit, a short sale is a much better option – and here’s why… [Read more…] about Short Sale vs Foreclosure

FreedomSoft 4 Review – Preston Ely

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Preston Ely Freedomsoft 4Preston Ely’s FreedomSoft 4 Review is here. This review is mainly for new users who want to experience a whole new level of real estate investing. The reason why this is for NEW users is because everyone that had FreedomSoft 3 was automatically upgraded a few weeks ago and I can tell you that the upgrades are AWESOME! Before we get to the upgrades, let me tell you about FreedomSoft 4 and what kind of real estate software Preston has created.

First and foremost, this software isn’t for everyone and I’ll tell you why in just a moment…< [Read more…] about FreedomSoft 4 Review – Preston Ely

Walking away from a VA loan

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Question:  Does anyone have experience with walking away from VA loan? I have 3 houses, living in one and renting 2 in Arizona. One rented house is up side down, worth only 50% of original purchasing price with a VA loan. For the first time thinking of short sale then foreclosure if i fail to sustain the payment in 6 months. In AZ, VA is exempt from the Anti-deficient law. How do I get around this? Please help. Thanks.

Walking away from a VA loanAnswer:  – I think you’re going to find it’s the same no matter what kind of loan you have. You have an obligation to pay a specific amount each month. If you cannot pay, the mortgagor has the right to initiate the foreclosure process to try can get the money back that was borrowed. [Read more…] about Walking away from a VA loan