What Is A Real Estate Short Sale

"Real estate short selling" is a popular phrase among many these days. Real estate short sales serve as an alternative to foreclosures in an increasingly declining real estate market. Real estate prices are lower now than they have been in a long time and the amount of time it takes to sell a piece of real estate is rising.

It is completely valid to say that some regions - such as Detroit, for example - are experiencing a market meltdown. These declining real estate markets are the main reason for the rise in short sale real estate.

A bank allows a real estate short sale to occur when the bank consents to letting their property be sold for an amount smaller than the amount owed on it. In order for this to occur, two conditions must be met.

Firstly: Market values are such that the property's sale price cannot cover the outstanding mortgage balance(s). An inability to make additional payments on the property is the second requirement.

You might have someone who bought a property five years ago for the price of 217,000 dollars using an adjustable rate mortgage. Let's say that two years after purchasing the property the owners took out an additional 10,000 dollars second mortgage, which means that today the owners owe 227,000 dollars on the property.

Also, we have to remember that in five years, the amount of time that the mortgages have been paid off is negligible. We'll also imagine that the property value has decreased to 215,000 dollars while the mortgage interest rate has increased from seven to eleven percent. If we toss in the fact that one of the owners has just lost her job, we should realize that a real estate short sale is on the horizon.

For a bank, a foreclosure can mean a lot of time and money spent that a short sale would not. Banks do this because it allows them to accept a definite amount of money and because it allows them to get the property off their books. In general, this is how the real estate short sale works, though of course, complications through stubborn owners and lenders can arise.

Admittedly, many owners may find the real estate short sale a very painful experience, but things could be much worse for them. Having to go through the experience is awful, but it is a lot better than having a foreclosure on your credit report.

Real estate investors should understand that the short sales give them a wonderful opportunity to purchase property.

Foreclosure Listings in Saving Money Buying Your Home

Foreclosure listings can be used to your advantage when buying a new home. It’s a well known fact that numerous people lose their homes due to financial shortcomings. Many cases exist where individuals could not afford the mortgage at the onset. There are accessible listings revealing to prospective buyers many homes that are discounted thanks to the original owner defaulting on their mortgage.

We recommend using the many online resources wisely and reading through foreclosure listings to find a home at a bargain price. It may look cruel that your good luck could come at the price of someone else’s hard luck but looking at foreclosure listings could significantly reduce your expenditure when buying your home.

What’s your Choice...? Free vs. Paid Subscriptions

Available are free as well as paid foreclosure listings showing you power of sale properties at a tiny proportion to the original listing. Free listings may not be updated as regularly as those listings that require a subscription fee. We advise you to take a look at all the available alternatives before seeking a subscription service.

How to Find Foreclosure Listings

If your aim is to really save a lot of money on buying your new home (or an investment property) then it will certainly do you good to find a good home and property listing service.

Foreclosure listing services can be specific to certain areas, giving you information quickly. Paid services are preferred with respect to free services since they tend to be more efficient.

Let’s Now Find a Good Foreclosure Listings Sites

Go online for foreclosure listings and carry out a search based on the factors you are interested in. It is not rare to find listings services that will even e-mail you upon the appearance of a new listing with your preferences.

For information and valuable insights into mortgage topics please go to:

http://www.mortgage-infoguides.com/blog/.

Know the Timeline for Foreclosure-Save Your Property

If you are interested in discovering what it will take to stop foreclosure proceedings you will have to gain the knowledge that will be needed in order to do so. In all honesty, the timeline for foreclosure varies from state to state, but there are similarities. If you are a homeowner it would be smart to fully understand and know the entire foreclosure process, not only the timeline for foreclosure. Many borrowers lack knowledge or are very uninformed, or even misinformed. This sad lack of understanding can wind up being devastating.

As you have probably discovered, any undertaking without the required knowledge will usually wind up being a bad deal. Many borrowers do not comprehend or want to admit that there are predators out there disguised as mortgage brokers, real estate investors and attorneys that will steal you blind. Your misfortune, likely caused by lack of knowledge can bring them huge monetary growth.

The timeline for foreclosure will usually follow this outline. The foreclosure timeline begins when you are just one day late in sending your house payment. Yes, one day late.  Most of the time, at this point no additional fees have accrued yet. If you do not send your whole payment within 16-30 days a penalty or a late charge will be added on to the total amount due. About this time you will no doubt hear from the mortgage lender. They will inquire about why you haven’t sent your mortgage payment. If your housepayment goes more that 30 days late, you will be labeled as in default of your mortgage loan agreement.

Being in default in the simplest terms, at this point, means you are behind on your loan obligations. If you have not sent a loan payment after thirty days, the lender may decide to exercise their rights and repossess of your property. Whatever you do, do not freak out. Remain calm and remain in contact with your mortgage lender during this foreclosure process. These days the majority of lenders really do not want to take possession of the house. They will likely be willing to help you if they are able. Do not be afraid to inquire about� what plans they have available to you.

Between the 60th and 90th days or non-payment, an official notice of default will be sent to the borrower. At this point during the timeline for foreclosure, collection costs will be added on and the lenders legal department will prepare and deliver the required documents to a local lawyer. This is the start the actual foreclosure proceedings.

The last portion of the foreclosure timeline occurs somewhere between day 150 and day 415. The homeowners home will be put up for liquidation at a foreclosure sale or a foreclosure auction after the Notice of Trustee Sale is filed. There are certain benchmarks and points that must be followed and adhered to during a foreclosure process. Remember that a foreclosure is a legal event. The impending foreclosure will likely advertised in the local paper, once the case is handed over to local lawyers.

The homeowner still has the chance to halt the procedures leading up to the foreclosure. Most states have laws regarding that. During the pre-foreclosure period, the homeowner may be able to purchase the property back from the lender if they have secured the financial means. Regretably a great many of homeowners will be forced from their property by the local sheriffs department. This situation could be prevented if the homeowner pocesses the knowledge about what is available to them when they are facing foreclosure.

An exciting and unique product that is designed to create more vendor (seller) leads for estate agents.

This web-based application goes under the title AGENTQUOTE and is set to make a big impact on the UK estate agency market. The product should be equally popular with the public as it enables a house-owner to obtain a price to sell their property, in a more efficient manner.

The AGENTQUOTE system invites a seller to register details of a property that they wish to sell (or rent) and the system will then contact all estate agents servicing the postcode area of the property, inviting them to prepare a simple quotation for the seller. The quotation response form asks the estate agent to provide 3 simple but pertinent pieces of information to the seller:

1) How many buyers does the agent have on their database that would likely be looking for such a property.

2) Of those buyers that can be counted as interested parties, how many of them are considered to be ‘hot‘ buyers.

3) What fees would the agent typically charge to market such a property.

Once an agent has responded to a quotation request the seller can then choose from the range of quotes received and select which agents should be invited to make formal contact with the seller to arrange a market appraisal of their property. The seller has some additional tools to assist them in deciding which agents to approach as the system includes a star rating which reflects the agents’ performance to date which is based upon seller-created feedback.

Terry Davies, managing director of BaySoft commented:

“Every property portal service in the UK is focused on driving buyer leads to estate agents by advertising properties that are available to buy. We’ve turned the model upside down and created a site for persons that exclusively want to sell or rent a property. This system delivers a great benefit to the consumer that wants to receive a range of quotations from agents without having to make individual contact with them all. The rating system acts similarly to the way price comparison websites work providing an additional aid to the seller, and because we don’t pass full seller contact details on to the agents, the seller is protected from pressure selling at all times.We also believe that this is an invaluable resource for smaller and medium sized agency firms to help them achieve better levels of sales in an economic climate that could be spelling doom and gloom for many of their competitors.”

It’s unsurprising that this innovative and unique product has already caught the attention of some bigger companies who are keen to offer their services through the AGENTQUOTE portal. One of these is Confused.com who see the bi-product agency rating engine as having a direct synergy with the business model they offer their customers. BaySoft have also created a Confused.com branded version of the AGENTQUOTE system especially for the purpose of driving increased vendor traffic to estate agents.

2 Situations Where Sale and Rent Back is the Wrong Choice

This article assumes you understand the sale and rent back process and will discuss 2 scenarios where selling and renting back your property is most likely not the best solution. If you are in these situations it is advisable you look at the alternatives which are suggested.

1. If you can reduce your monthly outgoings 

Some people may find that they can reduce their monthly outgoings by consolidating their debts to a rate that is more affordable. This does not mean taking out more debts to pay off existing ones but getting all existing debts onto the best interest rate possible. If financial difficulties are causing you to ask yourself 'shall I sell my home and rent it back?' it is often worth while looking at loan consolidation as a possible alternative.

This may allow you to keep ownership of your house but it does not guarantee that your future outgoings would be less than if you sold and rented back. If you are not sure what to do, it may be worth getting a rental quote from a rent back specialist (the good ones will give this free) and compare it to your potential outgoings if you consolidate your loan. This way you will be able to make a more informed decision.

2. When you want to get full market value for your property

If you want to get the best possible price for your property then sale and rent back is most probably not for you. Sale and rent back companies are not able to offer you 100% of the market value of your property due to the costs they incur buying it and the profit margin they need. Those companies that say they will offer 100% of the market value and rent your property back to you are most likely not telling the truth. They are trying to get their foot in the door and then will offer less. If they did offer 100% of the market value they could not survive as a business as they would incur a loss for every property they bought. Reputable sale and rent back companies normally offer up to 80% of the properties value.

You need to make sure you sell to a company that (a) is honest and upfront with you and (b) has a sound business model because if they go out of business there are going to be complications with you staying in your house.

If you want the best price possible for your property and do not need to stay in it then selling via an estate agent is the best solution. If you want the best price for your property, do not want to rent back and need a quick sale then a cash buyer is often the best solution. Many rent back companies can offer this ‘quick cash sale’ service (including us). 

The bottom line is: sale and rent back is not the solution for those wanting full market value for their property and beware of companies that say they can offer this.  

 

21 Ideas To Sell Your Property Quickly Using Better Curb Appeal

5 Tips for selling your house

When you’re getting ready to sell a property or other investment, there are a lot of things you can do to create curb appeal so everything works in your favor. Accordiing to statistics, potential buyers decide within the first 10 seconds of seeing the outside of the house whether or not they want to see the inside. One of the most important things you can do to initially attract buyers is this. You will sell your property faster than you might have thought and get a better price for it too.


Here are some cost effective things you can do quickly to make your real estate investment more profitable. Being familiar with some of these concepts doesn't mean you are using them your advantage. A lot of these principles also apply for creative real estate investing strategies like foreclosures, flipping, wholesaling, lease options, property assignments and rehabs.


Here are some of the most important things you can do beside the standard house cleaning to have the most impact at a minimal cost:

-Mow the grass first and then clean the flower beds and trim the trees and shrubs

-You can make your investment property look almost like new by simply pressure washing the exterior walls

-Use touch up paint where you can avoid repainting entire rooms

-When you need to paint, use neutral or lighter color paint that will appeal to more buyers.

-Replace or eliminate old and outdated things like knobs, fixtures or wallpaper

-Remove the garbage and clutter in the house especially in the closets and pantry

-Have the carpets cleaned or replace areas that absolutely need it

-The front door will add color and definition to your home so repaint it.

-Sweep and clean the pathway to the front porch

-Clean out gutters and spouts

-Oil stains on the driveway just looks bad so clean it as best you can

-Repair any leaks, cracks or stains

-Old dirty welcome mats are not welcoming so put down new ones

-If room permits, add a small bench or seating on the porch or just inside the entry.

-Add color to the entry way with flower pots on the porch

-Old light fixtures need to be replaced with new brighter ones

-Cleaning and re-grouting the tiles in your shower and bathroom adds a lot of appeal

-Clean or replace old blinds, drapes and shower curtains. -Get rid of dated drapes and make sure as much natural light can get into the house as possible

-Clean door handles, light switches and handrails

Wash mirrors and windoows

-Use natural air fresheners to air out the house. -Chemical based air fresheners or sprays can cause many people to have an allergic reaction so avoid using them.


You can make a big difference by doing many of the things we've talked about without breaking the bank with excessive remodeling. Don't do expensive renovations when small details will acutally do more for you. This can even be advantageous for low risk, quick cash strategies such as a system to flip houses and similar effective fast cash investment strategies!

How to Sell For Sale By Owner Homes Quickly

One of the greatest reasons that for sale by owner homes frequently do not sell very quick is because of the vendor not knowing how to advertize the property effectively. FSBO does not have to be intimidating. The following pointers will prevent you having to hand over pricey real estate fees when selling your home yourself.

Before you put your house on the market, it must be impeccable inside and out. The simple fact is that first impressions matter and potential purchasers will only be attracted to immaculate and appealing homes. Remove all clutter and clean your home from top to bottom, including the carpets and windows. Curb appeal is another powerful aspect that should not be neglected. To that end, ensure your garden is neat and tidy, the lawn is mowed and any overhanging tree branches cut back. Additionally, make sure your home smells great. If you have pets, this can be of great concern. Although it is better to eliminate the odor at source rather than trying to disguise it, some essential oils put in discrete places around the home can make the world of difference. Ask over a friend or neighbor and have them walk through the house to get a second view.

To sell your home quickly, the most significant factor to consider is the selling price. Over pricing when selling a house is the biggest reason why umpteen homes for sale by owners do not move. A good guide in being able to price your house correctly is to check local real estate listings to figure out the regular selling price for similar houses in your area. As a general rule of thumb, if you pitch your asking price at about ten percent higher than the actual going rate, you will probably receive offers, and hopefully a sale, very close to the true market price of the house. One service that you should not do without is that of a lawyer who is experienced in the intricacies of selling houses. It is also advantageous to have a professional home inspector check for any issues.

Naturally, if nobody knows about your home being on the market, you are not liable to sell it very quickly. This is why effectual advertising is so important and to that end, there are a number of FSBO web sites in the US where you can post adverts You may even be able to advertize for free as many sites allow FSBO listings at no cost. Your actual advertising copy should be simple and to the point with a selection of good quality photographs of the property that show it off in all its glory. Ensure that you underline attractive characteristics employing language and phrases that are appealing to potential buyers. Terms such as Newly Remodelled, Close to All Amenities or Priced Under Market are good for starters. Lawn signs are one the most essential selling tools for home sellers and if you attach a container of data sheets to the sign, then browsers will have instant access to your contact information.

Selling a house yourself can be time consuming, but the financial payoffs are enormous. The key is to have your home priced properly and looking more attractive than the competition. Educating yourself about the subtleties of the realty marketplace in your area will make you as effective as any realtor - without the costly fees.

Insurance Deals for House

Finding home insurance deals is not that difficult as it was earlier. Customers are the main focus of companies, so this is why the need to change some policies . house insurance quotes Therefore, before applying for a home policy plan, buyers need to make detailed research on different home insurance policies, their benefits, and so on.

There are two parts to Home Insurance Policys Depending on the chosen plan, it may or may not cover against specific calamities and damages. Alternate plans may cover possessions within the house and damages to them. Home policies exist that are specifically designed for tenants. As a result, people should select and review which plan they believe will be most beneficial to them.

Home insurance policies rely on specific factors to determine premium rates and coverage. Individuals can get their policies at a much lower rate from the insurer if they have done proper study of these factors and they implement them. those factor are discussed below cheap home insurance quotes on line.

If homes are located in the safe regions where crime rates are low, offer easy transportation, and are at close proximity to hospitals, schools, and shopping, then insurance companies offer home insurance plans at affordable premium rates.

Secondly, when finding deals, people need to look after the security features of their houses. For security, you need to have at least two bolts, so you should use a five-lever lock for all outer doors and windows. If people install good security systems in their houses, it will help them to obtain affordable plans and rates. The reason is, these types of homes are less likely to be robbed, decreasing insurer's concerns regarding claims.

Companies also look for fire alarms when considering the house of a potential buyer. Lives can be saved, and damage prevented, if people remember to install fire alarms in their homes.

Another extremely important factor to the firm is the age of the house. The best home insurance coverage deals may be found by customers with newly purchased homes. Also, for better insurance rates, people insuring old homes should address pipes and walls. The only reason why it is essential to repair ones home is because otherwise it is likely to collapse or have a short circuit. (ancient wires), etc.

Excess weight is another consideration in setting the premium for insurance. Companies offer affordable insurance deals, if people are willing to pay half of the claim in case of certain damages that occur to houses. To understand it better, consider this instance, if the damage amount equals to $100, then individuals will have to pay $50 themselves and rest $50 will be paid by the insurer.

Locating a good insurance deal for home insurance is a balancing act between need and price. It means that, obtaining a lower premium policy may not be good, if it does not render any or enough benefits.

So, when enrolling in a homeowners insurance plan, customers should be sure the policies they select are reasonably priced as well as offering good benefits. The simplest way to accomplish this is to compare the quotes from several companies. Get started now by using the handy resources below. Help on cheapest home insurance quotes online.

Where To Buy Home Insurance?

It is important to understand the significance of a home insurance policy. The practicality of such a policy should be considered. cheap online home insurance quotes Many people are faced with the important question of where to buy home insurance. Policies can be bought either through a reliable agent or home insurance companies' websites.

Before taking the step to buy,you should take the expert's advice in order to get the exact information concerning your deal. Gather information about their plans such as policy coverage, tenure of the policy, payment options, and monthly or yearly premium amount.

Nevertheless, you have to take special precautions when purchasing policies for home coverage. For instance, prior to approaching any agent or company, ensure that these companies are reliable and registered or authorized by your state's governing or licensing body. A number of phony businesses and salespeople are doing business online, therefore you need to be cautious.

You might consider talking to friends and family and see if they've worked with any agents or insurance companies that they would suggest to you. If you still need assistance, try looking in the Yellow Pages for more info. Websites, such as Google, can be a great help in your search for additional information.

Be sure to be knowledgeable about the insurance company or agent before you decide to sign on. Read review online and anything else you think may help.

Home insurance policies are many and varied, including HO-1 all the way through HO-8. Different types of home insurance policies can vary greatly in their individual benefits and limitations. cheapest home insurance quote.

Please provide as much detail as possible when requesting quotes because there is a wide variety of policies and coverages for each insurance type. An example is to check if the policy is meant for a homeowner, a leaseholder or a co-op/condominium owner.

You need to do your research and find the company that gives you what you want to have with the best deal and the policy that you want to buy.

Recently, the internet plays an increasingly vital role in bringing worldwide information to users within a matter of seconds. The Internet has virtually eliminated the fears of choosing the wrong company due to a lack of information.

You may find trustworthy insurance companies and agents online. These reliable insurance sources offer good deals on home coverage policies, thus homebuyers can save quite a bit of money.

Although a lot of people have successfully purchased home insurance online, a number of companies are not honest. Thus, it is a very good idea to just steer away from companies without state government certification. It is not unusual for individual state governments to appraise the plans offered by an insurance company and then recommend said company with the state's endorsement. More help about free home owner insurance quote.

Facing Eviction? Take These Steps to Avoid Repossession

Firstly it is important to know that your lender can not evict you without a court order.

If you have been given a court order by your lender (received in the post) it usually means that other attempts made by you and the lender to overcome the arrears have failed. Some lenders are very sympathetic to borrowers who have got behind in their mortgage payments and may wait 6 months before applying for a court order. Some lender (of the ‘sub prime’ variety) will be all to quick to take late payers to court.

In order to start the eviction process the lender will apply to the local court to issue a ‘possession claim’ which will give you a date and time for a hearing in the county court. You should have at least 28 days’ notice of the hearing date. (Note; a court hearing does not mean you will automatically lose your home.) Even if the court decides you cannot afford to stay there, you will not be evicted from your home on the date of the hearing.

What you need to do before the hearing

A document called ‘particulars of claim’ will be sent as well. This sets out your lender’s case for taking possession of your home. You will also receive form N11M called a ‘defence form’ which you should fill in and return to the court within 14 days or receiving it.

It is important you give as much information as possible in the defence form as this give the court a chance to see your side of the story. The court will not evict people unless they have to so give them a good reason why they should order the lender not to evict you. You need to ensure you:

• Check the details of your lender’s claim to see if you agree with them. Say if you think that the information is wrong.
  
• You will be asked how much you can afford to pay off the arrears. Prepare a personal budget sheet to work out how much you can afford to offer and show this.
  
• Put down an amount which you can afford, even if your lender has already refused this offer.
  
• If you are hoping that your circumstances will improve in the future (i.e. the reason why you got in arrears will change or improve), or you want time to be able to sell you home, then say so in the space provided.

You should send this document back 14 days after receiving it. If you have missed this date it is still worth sending it if it will reach the court before the hearing date. Remember to keep a copy. 

What you need to on the day of the court hearing

• Come prepared to the court with short noted about what you would like to say at the hearing. Don’t be afraid to refer to them when you speak. 
  
• If your financial circumstances have changed since you filled in the court form work out a new budget sheet and take it with you.
  
• Take 3 copies of your latest personal budget with you (one for you, one for the judge and one for the lender’s representative).
  
• Try to answer questions clearly, calmly and fully. Remember you have as much right to put your case as the lender and the judge will be keen to get the full story.

What should you say?

If you think you can pay off some of the arrears in staged payment let the judge know your plan. If the judge agrees the lender can not evict you if you stick to these plans. If the judge does not agree with this plan you can ask for an adjournment or postponement to give you time to sell your property yourself.

If you plan to pay off the arrears in a short space of time (by remortgaging or selling your property ask for an adjournment). You should also ask for an adjournment if you don’t agree with the lenders figures. This will give the lender time to get detailed accounts ready for the judge.

If the judge does not accept any of your plans they can the district judge can make a possession order, which allows you a set period, usually 28 days, before your lender can take any action.

What if I can’t pay?

If you subsequently find you can not pay the amount which the court has ordered you to pay, you should go back to the court and ask for the order to be changed. Use the form N244, available from the court office. You should also contact your lender and try to make a new arrangement. If you can not make another arrangement there is a danger that you may not be able to avoid repossession and you should prepare for the worst or possible arrange to sell and rent back your home. . 

Avida House and Lot in Antipolo - St. Gabriel Heights

Many OFWs in the Middle East and the rest of the world, or even non-Filipinos who wish to live in the Philippines are searching for a house and lot in Antipolo. In fact, even my relatives have called me from overseas asking about where to live in the Philippines. Since I know that they want the cool clean air of the mountains, yet want to be able to go to Quezon City, Pasig or even Makati within 30 to 45 minutes, I searched for house and lots in Antipolo.

Fortunately, I was able to find St. Gabriel Avida, an Avida Land community in Bgy. Dalig, which is quite near the Antipolo church. St. Gabriel Heights is less than 12 minutes away by tricycle from Shopwise, and about 5 minutes away by car of jeepney. You can also get to SGH if you approach Antipolo via the Sumulong Highway route. Simply take the Tanay provincial road, and you will see the Avida Land Community on your right.

What makes the St. Gabriel Heights gated community a great place to live in? For starters, people are pleasantly surprised when they find out that Avida Land is an Ayala Land corporation. People know about the track record of Ayala Land in Philippine real estate. Time and time again, happy house and lot owners attest to the reliability of projects developed by Ayala Land.

The typical reaction I've encountered is: "What, there's an Ayala Land project in Antipolo?" It's quite understandable, I guess. When you live in Antipolo, you feel far from the worries of the hustle and bustle of city life (even if you're just 30 minutes away from your office in the Ortigas Center area, for example). Life is calm and relaxing, you feel you're no where near Makati. So when you find out that Ayala is behind this Antipolo project, you get pleasantly surprised.

Anyway, my relatives and their OFW friends like the Antipolo house and lot packages in St. Gabriel Heights (SGH) Avida Land, because the affordable prices range from P1.5 million to P3.5 million. When I sent a message to Jhoanna@AntipoloProperties.com, I was able to get hold of more information regarding SGH. I was also able to schedule a site visit to get a firsthand look at the place, and feel the clean mountain breeze, too. Of course, I stopped by the Antipolo church to get several suman sa ibus, which tastes wonderful when dipped in sugar and eaten with a cup of chocolate eh.

Find Information on Foreclosures Free

Free foreclosure information on homes is available in all areas of the United States through newspaper advertising as well as through court filings. When a family loses their home it can be one of the most upsetting experiences they can suffer. In some parts of the United States families seem to lose their houses more often than in other parts of the States. This is where people looking to take advantage of certain situations can find houses at reduced prices by knowing where to look.

In some US states a lender must file any claim through the law courts before issuing foreclosure proceedings on the borrower. Once a judge reviews and agrees the foreclosure information during a judicial review, they will then offer the defendant a specified time frame, usually 30 days, in which to make payment of the entire loan amount that the judge determines to be due. At the end of that time, if the borrower has not been able to meet the deadline set by the judge the court can then order the home to be sold at auction. Just because the court has ordered foreclosure of a mortgage, does not mean the homeowner has left it too late to stop the foreclosure auction continuing. The homeowner has right up until the day of the auction to pay the mortgage, along with all the costs and maintain ownership of the property. A great way to find a home to buy is to check out the court records and make contact with the home owner before foreclosure.

Check The Facts Before Making Any Offers

Potential buyers should look at several issues that may affect the purchase of the property before making any offers, especially if it is being purchased as an investment. Whilst the foreclosure information provided to the court is likely to be accurate; if the home loan is quite new and therefore has not time to generate much equity, the amount needed to purchase the property may be higher than the propety's value once all the associated costs are calculated into the final price. It's always a good idea to try and contact the owner of the property and negotiate with them as this may well be more beneficial than negotiating solely with the lender. One way to find out who the owner is is by looking through the foreclosure information in the newspapers. The lender knows that through auctions as well as subsequent civil action they can recoup the cost of the loan and legal costs incurred when trying to collect. There is no reason why you shouldn't offer a lower amount for a mortgage than what is originally offered by the lender, they may surprise you and accept.

Investing In Foreclosed Property? Avoid Making These 5 Mistakes!

Due to the recent rise in home foreclosures a new wave of neophyte real estate investors are getting into buying distressed and foreclosed property. Attracted by the seminar mantra of quick profits and simple approaches many of these new investors are jumping in naked into a world of foreclosure investing. If you′re one of these new investors, thinking of investing in foreclosed real estate property, here are 5 mistakes to avoid:

1. Foreclosure Ignorance: You have to do your homework and avoid the lofty pitches that may be coming to your from all directions. Invest the necessary resources to ascertain within yourself that you have all of the information you need in order to make a profit from your investment.

2. Inaccurate Evaluations: You must have an accurate knowledge of home values and ensure your evaluations match current market data. A higher and higher level of foreclosed properties is a result of no buyers in the market. Ensure you′re buying low.

3. Decision Doubts: Although knowing all of the factors that come into making a profit from investing in a foreclosed house is important, the truth is that it is not enough. You must also move like lightning when the time is right. Hesitation in foreclosure investing leads to going over the falls and missing out on the ride.

4. Extra Noise: Miscommunication and a shabby presentation will slow you down and in turn create noise when instead you want clarity and attention. Think of your investment as a diamond in today’s tough real estate environment of foreclosures and then make it a diamond - clear and clean. Put your pretty face on.

5. Word Silence: Do not solely rely on traditional marketing efforts. Your investment must be viral using all of the online marketing tools available to you today. Be completely motivated to spread the word every hour of every day. Spread the word.

Successful investing in real estate foreclosures requires that you avoid making these 5 fundamental mistakes. Keep them in mind as you go through the process of investing in foreclosures.

There are plenty of resources where to learn about investing in real estate foreclosrue. Here is one resource which we have found to be a great place to learn the ins and outs of foreclosure investing:

- Foreclosure Bible, by Chris Negro, is a good source for the ins and outs of foreclosure investing such as figuring out where the home owner is at (in the foreclosure process), the different times you can buy, and how to sell your investment in 36 hours or less.

How to Go about Acquiring Homeowner's Insurance

The first question that arises in the minds of people when considering home insurance is how to get home insurance very easily. Consult cheapest house insurance quote. It is most important  in getting home coverage to first select a possible vendor of services. For things like this, consumers need to take the time to shop the market.

Also, it can be of great benefit to search the Internet for competitor's prices. On the other hand, low cost coverage shouldn't be stressed too much. This is because a low cost coverage does not mean a good deal. The most important factor is the service and stability of the company. This is why it is important to review the status of insurance companies. Collect the quotes once you have short listed the best companies.

Some homeowners include their land cost in their insurance coverage. Most homeowners buying insurance share this common mistake. These practices are avoided. This is because, when theft, flood or earthquakes occur, the land should not suffer any permanent damage. This may cause a customer to pay larger premiums in tune with the land value in their home insurance coverage.

Everyone looking to buy homeowner's insurance wants to know how to obtain a plan that offers the ideal features. First, consumers need to determine what is best for them, and then decide how to get such coverage at an affordable price. Follow these simple guidelines to get worry-free home insurance coverage.

Ask friends and relatives about their experiences with home firms. Be aware of get a home coverage quote. Take note if another insurer or agent is suggested. Do not just take someones word for it do a search yourself. Make a good attempt to get all the information you can about these agents and insurers.

Browse the State Department of Insurance and make up a listing of companies which are ranked A or higher. Don't neglect gathering quotes from the short listed insurance companies.

Obtain numerous quotes from a lot of companies and then compare the quotes. From those, select the five most ideal insurers.  

Once you have picked five companies, look at reviews from some independent sources. Use A.It is the 14th alphabet of the 26 total alphabets that you need to know to learn the language English and it is written as M. Best Company, Better Business Bureau and Phelps are needed in order to determine their current position in regards to credit. This kind of credit appraisal firm can assist you in determining how sound any of your chosen insurance providers is.

Do not accept any company whose rating falls below an A. Such companies are not in any position to guarantee compensation, if an insured person makes a claim.

To select the best deal for their dream home,insurance buyers check on different bureaus on-line or off-line. An important thing is the fact that deals must fit into the budget of an insurance buyer's finances.

Consumers have the option to search for an optimal and affordable deal, from various companies that offer similar deals.

The first question that arises in the minds of people when considering home insurance is how to get home insurance very easily. To get home coverage, the first vital step is to find a prospective insurer. For this, consumers need to shop around for them. It is also beneficial to check over the online companies and their quotes and prices. However, avoid stressing more on low cost coverage. This is because a low cost coverage does not mean a good deal. The stability and service of a company is most important. Hence, ascertain the credit status of insurance companies. After short listing the best companies, collect their quotes. Some homeowners include their land cost in their insurance coverage. This is the most common mistake among all homeowners who buy insurance. However, they have to avoid such practices. This is because, when theft, flood or earthquakes occur, the land should not suffer any permanent damage. This may cause a customer to pay larger premiums in tune with the land value in their home insurance coverage. A Few Effective Ways to Get Home Insurance: Anyone who shops for a home policy is concerned about how to get home coverage with the best features. First, consumers need to determine what is best for them, and then decide how to get such coverage at an affordable price. Below are a few guidelines on how to get home insurance coverage with little or no trouble. Ask friends and relatives about their experiences with home firms. If they suggest some insurer or agent, note them down. However, do not simply go with suggestions. Try to get details about such agents and insurers. Visit the State Department of Insurance and create a list of firms that have a rank of A or greater. Remember to collect quotes from these short listed companies. Get online quotes from as many of these companies as you can, and compare their quotes. Choose the best five insurance companies among them. After selecting five companies, try to find out their ratings from several independent sources. Use A.M. Best Company, Better Business Bureau and Phelps to ascertain their crediting status. These credit rating agencies will help to decide how solid each of the selected insurers is. Do not go for any company that has a rating less than A. Such companies are not in any position to guarantee compensation, if an insured person makes a claim. Conclusion: Insurance buyers may seek help from different bureaus, which exist online as well as off-line, to select the best deal for their dream home. Another key factor is that deals have to be within an insurance buyer's financial budget. Consumers have the option to search for an optimal and affordable deal, from various companies that offer similar deals. Remember to hunt for discounts on any chosen policy. The Internet is vast and there will be numerous results. However, consumers have to be very careful in finding a superior home insurance to protect their homes. The resources below can come in handy when looking for coverage. Everyone would agree that buying a home is a major purchase. Even with the decline in the housing market in recent years buying a house is still quite expensive and the best way to protect that investment is with a good homeowners insurance policy. In fact, if the purchase of your house requires obtaining a loan, your lender will more than likely require that you carry at least basic homeowners insurance. This article will talk briefly about what's covered and what's not covered in a basic homeowners insurance policy and gives some tips to make sure you get the best coverage at the best possible price. A basic homeowners insurance policy will cover a number of potential hazards known in the industry as "perils". The following perils will be covered by any homeowners insurance policy. Fire or lightning, smoke damage, explosions, wind storm or hail damage, damage from the build up of snow sleet or ice, damage caused by vehicles or aircraft, vandalism, theft, water damage due to plumbing failure, damage from the electrical surges, falling objects, volcanic activity, and riots or civil unrest. That list is fairly long and seems like it includes just about everything but a couple of major events that would not be covered would be earthquakes and flooding. Insurance is available for earthquakes and floods but is not part of a basic homeowners insurance policy. To be protected against those particular perils would require the purchase of additional homeowners insurance. If you live in an area that is prone to flooding, obtaining flood insurance may be difficult. However, if you live in an area where floods are not too common flood insurance would be very inexpensive and may be a good investment. Even in areas that don't see flooding on a regular basis, all it would take is a blocked up storm drain in a heavy rainstorm to cause flooding. Just a couple inches of water inside your home can do thousands of dollars worth of damage. Whether you decide to include earthquake and/or flood insurance, or you decide to go with the most basic homeowners insurance policy, the policy would cover your dwelling, your personal property, and some degree of liability insurance. The dwelling refers to the actual structure of your home. If your home was damaged the insurance benefits would be used to repair or rebuild the structure. Personal property refers to all of the items inside your home that are not part of the structure. This would include everything from major appliances to jewelry and knickknacks. Liability coverage would protect you in the event that someone were injured on your property. The amount of liability coverage would very from one policy to another. All of the items discussed above are the items that would typically be covered under a basic homeowners insurance policy however the dollar amounts of the benefits to be paid out, the monthly premium payments, and the deductibles will all be different from one policy to the next. The best way to make sure you get the most coverage at the most affordable price would be to do some comparison shopping. Get multiple quotes from several different insurance providers and you can easily determine which quote will be offering the best coverage at the best price. More can be found at free home insurance quotes on line.

Understanding Reverse Mortgage Loans

Reverse homeowner loans often are a benefit to older property owners. The funds generated by getting free homeowner insurance quote and selling off some of their home equity (to get the reverse property loan) might aid these retired homeowners in releasing cash for many purposes ie the sum thus created could be spent on financing house improvements, or the sum can act as a further retirement income or it might be used for paying off an existing house loan or it may be used for paying for some doctor expense etc.

Moreover, the income generated from reverse mortgage loan is usually tax free. What's more, after you pay off the reverse home loan partly (or in full), the interest section of the loan can qualify for income tax deductions (this further adds to the list of advantages from reverse home loans).

Reverse mortgage loans are an addition fantastic concept in the world of home loans. A reverse property loan is a home loan that works in the reverse way eg. you receive payments instead of making payments. With a reverse home loan, you keep adding to your debt rather than decreasing it.

Thus a reverse mortgage gets you regular payments and as you collect these payments you increase your loan amount. Yet when do you repay the money that is added through the reverse property loan? Well, the reverse mortgage loan isn't required to be paid back as long as you reside in that home plus get Here Is Your House Insurance Quote Online. So, the reverse home loan is to repaid if you either stop living at the property (whose house value you are borrowing from to receive the reverse home loan) or you sell the home or you pass away.

You must check the fees and additional costs that are a part of reverse homeowner loans before you select one. In actual fact, you should do a lot of research by getting reverse home loan deals from different mortgage loan lenders before you pick the one that gives you the greatest returns (as you should for a traditional house loan). Furthermore, because the ownership of the home stays in your name, you are required to pay the property taxes, homeowners insurance and other additional costs that you incur on your home.

Reverse home loans are an option that is available to older people usually to persons who are over 62 years of age. Of course, the assumption is that you have enough house value in your home that you need to use for reverse homeowner loan. Also, a person can avail of a reverse mortgage only if you are residing in the home that they need to get a reverse home loan on.

All in all, a reverse mortgage loan is surely a great option for some senior homeowners. For more home insurance quotes cheap.

Stop Foreclosure Tips and Options

Here are Three Stop Home Forclosure Options:

There are several options a home owner may take to stop foreclosure.  Below we list three stop foreclosure options that may help you if you are currently facing foreclosure. 

Choosing which option will work for you, depends on your current situation:

- Special Forebearance
- Mortgage Loan Modification Option
- Particial Claim

Special Forebearance Option to Stop Foreclosure:

The Special Forebearance Option is where your mortgage lender could arrange a new repayment plan based on your current financial status.

In addition, your lender could allow a reduction of your monthly mortgage payment, or even suspend the payment for a few months (adding on to the time to pay for the full mortgage).

Usual Qualifications Required For Special Forebearance:?

You could qualify for special foreberance to stop foreclosure if you have had a sudden loss of income due to an injury or loss of job, or even a high increase in living expenses.

Your lender will usually require you to provide proof to show your income hardship situation, or you may also be required to write a Hardship Letter to Stop Foreclosure.

Documented proof may be required by your mortgage lender that shows you can now make the new mortgage payment, if a new repayment plan is setup.

Mortgage Loan Modification Option to Stop Foreclosure:

With a mortgage loan modification option you may be able to refinance your current mortgage at a lower rate and / or add years onto your mortgage loan term. If you use a mortgage loan modification to stop foreclosure, you could also lower your monthly mortgage payment so that it is more affordable.

Would You Qualify for a Mortgage Loan Modification?

A mortgage loan modification may be a choice for you if you have just recovered from an unusual income hardship. To qualify for a mortgage loan modification you will need to be able to afford the new loan payments.

Partial Claim Option to Stop Foreclosure:

With a partial claim option to stop foreclosure, your lender could apply for a payment from the FHA Insurance fund, US Department of Housing and Urban Development - HUD on your behalf. The amount would equal the total funds required to bring your loan payments current.

Partial Claim Qualifications Require:?

You may qualify for a partial claim if your mortgage payments are at least 4 months past due, yet are not more than 12 months past due. You would also have to be able to prove that you can pay your mortgage payments from this point forward.

The partial claim to stop foreclosure will require you to sign a promissory note for the amount required to bring your loan up to date.And, a property lien will be added to your property, until the promissory note is paid. The promissory note to HUD is interest free, and must be paid when you pay off the first mortgage, or when you sell the property.

The above information regarding stop foreclosure options are an example of many options that may be available. You can learn about many more options if you visit the free information site: Stop Foreclosure Tips.

Where To Find Online Home Options

There are many benefits associated with online home forms and online house owner tracking such as home quotes for free. The most important good thing is obtained based on the opportunity to get and review some house quotes in a very short time. Moreover, since these home quotes are gotten through a website, you avoid the hassle of keeping and arranging all the forms that you would otherwise have to do. Furthermore, you may directly find the info (search the info) from the previous homeowner offers and put them in a format (eg Microsoft excel spreadsheet) that makes it easy to look at many offers all at once.

You could do research on the web and look at home articles online or you might go through web based mortgage education lessons. When you have any questions or queries on mortgages, you might make use of a reputed house owner related online forum to get online homeowner advice. You might put in your details on a web page and find out about many house rate quotes and in less time than an hour.

The web has helped break knowledge imbalances and has made communication much faster by house insurance quotes. The Internet has made internet based house owner quotes a choice. Interned based mortgage rate quotes, internet based homeowner calculations, web based house owner tips, online home owner lessons, online home owner price comparisons and internet based mortgage payment tracking, all are simple and are used by several individuals.

Moreover, there are a few webpages that have internet based mortgage calculators at no cost. You may use such web based house owner calculators to compare prices from various house lenders. These online calculators only need a few details (like interest rate, homeowner loan amount, house tenure) about your home and once you provide this information you will immediately see the results (again through a webpage). You can receive clarifications on the house rates through email (eg again online). Web based mortgage payments are available using the web banking web pages. You may even examine your amortization schedule online.

Home brokers don't have to deal with any mail or paper work costs either. In fact, if we did not have this facility of receiving the homeowner offers Rates on the internet, the mortgage specialists would certainly not have offered these rate quotes at no charge either. Because so many individuals using the internet today, online mortgage transactions allow the house brokers to find a larger number of leads also (than would have been otherwise available) through home owner insurance quotes. Once more, web based house payment tracking is exceedingly useful too. You can logon to the web at any time and from any location and just find out about the current status of your home information.

So, web based mortgage deals have created a huge opportunity both for the house owner lenders/brokers and homeowner borrowers. It's verily a great thing for everyone.

Who Needs House Quotes

For acquiring outstanding mortgage insurance quotes, it's crucially important that you pick a well established mortgage broker that has a great Knowledge of the market like cheap home insurance quotes online. Putting in time in asking about and picking a great mortgage broker is sure to pay good rewards. Like this, if you cannot trust a house lender or a house insurance specialist, then you shouldn't be allowed"have the chance to reveal the total and correct details about your finances etc and hence you wouldn't be have the chance to get the lowest home quotes.

Buying a house is not the most fun thing and more so if you are buying it with a mortgage loan. It's one of the biggest choices of your life and should be treated with all seriousness. Once you have done the starting analysis and brooding on whether you should and want to go for a a loan, you come to the next point e.g. hunting for the mortgage that is right for you with a cheapest home insurance quotes. This begins with searching for mortgage insurance quotes. You can receive the mortgage insurance quotes through a mortgage insurance broker or you can receive home insurance quotes straight from mortgage lenders.

Before looking for house quotes, you must be extremely clear about your needs (you don't want to make a mistake by getting the erroneous home quotes because you put in the incorrect information). You can additionally ask for house quotes through the Internet. There are some sites that can find you many house quotes free of charge and within a short time period of hours.

As a result, you might be a lot more comfortable in discussing the house quotes (and other options) with a person you trust. After you request the house quotes, you should be allowed to understand the different terms and conditions with it. If you do not comprehend something on the home quote or should you have questions about the home quote, you need to get them clarified with your mortgage insurance broker or home specialist.

In order to make certain that you get the best mortgage deal, you should always ask for and look at several home quotes. Do not go with the first mortgage insurance quote that you get. Explore your options with several mortgage quotes. However, this does not signify that you ask everyone and anyone for house quotes. You should receive home quotes only from honest mortgage brokers and home insurance specialists, and consider only those house quotes that meet your needs and gives options.

So, just go home shopping and ask your compare house insurance quote.

Easily Sell A House In Selmer Tennessee

Navigating the house selling process can be a fascinating adventure depending on how you plan it and on the strategy you put to use. Selmer, TN property is selling quickly on the real estate market, and if this location is one of your choices or interests, opting for listing your property for sale with a legitimate real estate agency will increase the chances of you experiencing a much more successful result once the process has been finalized.

Those of you searching for Wayne County Tennessee real estate have the options of running numerous searches as well, and of perusing real estate publications designed to inform prospective buyers or sellers of the current property listings. Selling houses in this general area requires the seller to be fully informed of the laws and regulations that govern the sales of property, houses, land, locations, etc. Making use of advantageous real estate agencies is also another option when selling a house.

There are many companies that offer fast cash for houses that is either not selling within a specified time frame, or are not receiving a specified value desired for the home or property. Should this occur, these businesses offer home sellers a chance to sell their house without any added hassle or stress. Offering competitive prices, business designed to offer fast cash for your house, enable you to sell your home quickly and begin your future projects.

Selmer, TN property is listed on numerous websites geared toward prospective home buyers as well as businesses interested in acquiring ownership rights of property within these locations. Selling houses in this area is easily completed with the use of sufficient advertising and marketing of said houses. Real estate agencies most usually handle the difficult task of actually selling the houses, and you are simply required to make sure the property is maintained and kept in good order prior to the selling finalization.

McNairy county Tennessee real estate is opening the real estate market to new places and possible new ownerships. No matter what type of property you are searching for, nearly all properties are listed with some form of agency, making the act of gathering important information and facts about them, much simpler. If you are selling your property located in this area, make sure it is listed for proper advertising and marketing. Sell your house in Tennessee the right way, sells it through real estate agency listings.

Timothy A. Crane Private Real Estate Investor We buy houses and help people with their situations and give them options that they weren't aware of. Selling Savannah TN Property http://www.cashmoneyhousebuyer.com

Selling Land In Savannah Tennessee

If looking through the newspapers has not given you many choices towards buying a Savannah, TN house for sale, then maybe it is time to broaden your search, get creative, and raise your search to another level where success is the only word and what you are looking for, is locateable. Selling a house can be a hassle that no one enjoys taking part in, however most people find themselves doing it at some point in time.

How do you go about listing your Selmer, TN house for sale? There are many options for selling houses, and choosing which method to use is completely up to you and how it will benefit you. Listing your house with a real estate agency that handles Savannah, TN real estate properties can make it easier on you when it comes to the advertising and marketing required to get the house noticed. The more attention you can draw to a house up for sale, the better your chances it will be sold more quickly, and at a better price.

Advertising the Savannah, TN house for sale through special newspapers and listings that cover only the properties for sale locally is another option for centering attention on the house. These papers are geared specifically toward prospective house buyers and other people interested in purchasing a home. The circulation possibilities are wide spread and numerous, covering many distances to raise the level of interest generated in the local homes for sale.

Although the process is lengthy and sometimes confusing, a positive ending is possible with the help of a legitimate Savannah, TN real estate agency. Keep in mind that once you turn the job over to them, you are able to focus on handling more important issues that surround the moving process once the house has sold. Listing a Selmer, TN house for sale is the beginning of something that will have a positive return on the money you have invested, as well as enable you to start your search for a new home.

Finding the best way of advertising and marketing the home you put up for sale is what will determine how the process goes for you. Because every property is different, there are many different processes to choose from. Remember to keep the entire process as stress free as possible by allowing real estate agencies to assist you in your endeavor.

Timothy A. Crane Private Real Estate Investor We buy houses and help people with their situations and give them options that they did not know they had. Cash For Your Home http://www.cashmoneyhousebuyer.com

You Can Get Foreclosure Help Today

5 Tips to Help You in Foreclosure!

1,You Need Help Today. Act Now!

If you are late with your Mortgage you need Foreclosure Help.

Loosing your home is a serious situation that has serious repercussions. If you can, you want to avoid loosing your home to Foreclosure. You make a big mistake if you do nothing until it is to late! Find Real Estate Forums on the Internet. You can benefit from other peoples experience.

2, Learn About Foreclosure

Foreclosure is something that can happen when you get behind on your Mortgage Loan. Foreclosure is a process in which the estate becomes the absolute property of the Lending Institution. Foreclosure is a very serious situation that needs to be handled.

Foreclosure is a legal process by which a lender (sometimes referred to as the "mortgagee") seeks to collect a debt by taking property that secures the debt. Foreclosure

help is available with most Landers. Check the Internet. Sometimes you can find FREE Foreclosure information.

If you want to save your home, learn everything about Foreclosure.

3, Refinance

Refinance if you can. Lenders pull your credit, verify employment, and gather a host of other financial information about you, but they aren’t doing it in order to advise you in your purchases and other financial decisions. They’re doing it as a means to assess the risk of lending to you (how much and at what rate). The Lender may approve you for less money now than a few years ago, but there's no quarantee that you won't beapproved for more than you can afford. Landers will do this because you will sacrifice before you don't pay your mortgage. Lenders make money by collecting your principal and interest payments. It is not their best interest to start with a Forecosure. You can avoid Foreclosure if your Mortgage Lender helps you.

4, Find a Loan Modification Program

Sometimes a Loan Modification Program is the best Foreclosure help.

Mortgage Lenders are likely to go along if a competent third party is there to help the process. Lenders will sometimes allow a reduced payoff for a Loan if it is obvious a foreclosure is inevitable and a third party purchaser is willing to buy the property at a price lower than the full payoff.

Loan Servicers are used to dealing with mortgage delinquencies related to life events such as unemployment or illness, with the most common approaches being a temporary repayment plan or the folding of missed payments into the principal balance. A widespread decline in home prices, by contrast, is a relatively novel phenomenon, and lenders and servicers will have to develop new and flexible strategies to deal with this issue. Loan Modification let your Mortgage to be Refinanced or even extend the term or your Mortgage. The Lender may give you a monthly payment that are within your financial means.

5, Protect Yourself!

Don't be victimised. When you need Foreclosure Help, you have to find competent Proffessionals to work with! Don't allow scamers hurt you! Every Foreclosure records are public. Scam artist will find you. Get advice from experienced Professionals!

Foreclosure is not easy, stopping foreclosure is hard, but if you are well informed you can keep from losing your house.

Get Foreclosure help before it is to late!

How To Stop A Repossession

 

This article will outline the steps you can take to stop a repossession. It assumes that notice of eviction has been issued by the court bailiffs giving a date and when eviction will occur. If you are not sure if you are at this stage please contact the national debt helpline.

If you have been given a notice of eviction you may be able to stop this, but you must act quickly.

Which forms you need to fill out

If you need more time to sell, to find somewhere else to live, or want to make a revised offer to pay the arrears by monthly instalments you should apply for the warrant to be suspended on court form N244.You can pick up this form from your local county court.

When you fill in the N244 form remember to:

• Write the claim number of the case
  
• Write the warrant number
  
• Include the reason you have not been able to pay and your new offer (in part A on the front of the form)
  
• Tick the box in part B saying you rely on evidence in part C
  
• Attach your personal budget or write it out on the form in in part C on the back of the form
  
• Sign the statement of truth at the end of the form
  

Do this as soon as possible to allow the court time to arrange a hearing.

The court will set a date for a hearing, usually before the eviction date. It is imperative you go to this hearing or the court is unlikely to suspend the warrant.

If any further warrants are issued at this hearing you may still be able to ask the court to suspend them (for example, to give you time to find somewhere else to live). If all your efforts to stay in the property fail, you will be given an eviction date.

When the bailiffs come

Bailiffs have the power to force their way into your home if they have to so you need to move out before this date if you have not been able to stop the eviction. If they arrive when you are there you will have very little time to pack up your belongings and will only be able to return to pack up a couple of weeks later.  You will then have to get the lenders permission to enter the property again in the future and arrange to remove your furniture. Some lenders try to arguethat they can keep any belongings left in the house. It is safer so remove all that you can before the eviction date.

After your eviction your lender will still add interest to your mortgage until the property is sold. They are obliged by FSA rules to sell your home fast for the best price but in reality their need to get a quick sale to recover their money means that it is likely to sell a lot lower than the price you could receive on the open market. They may sell it anything from 15% - 40% below the market value of the property.

The proceeds from the sale are used to pay off the court costs, the estate agents and solicitors bills, the mortgage and any second or third mortgages. The lender must tell you in writing how the money has been spent.

When will the nightmare end?

They must send you any money which is left over but if not enough was raised on the sale of the property to pay off all secured debts and costs you will still owe money to the lender. Due to repossessed properties being sold below their market value this is all to common unfortunately.

 You do not want to get to this situation so take action as soon as possible by trying to pay off the arrears, selling your property before you get evicted (so you get a better price) or selling and renting back your property so you can stay there.

 

How To Escape The Stress of Mortgage Arrears

If you have missed any payments on your loans you need to check if they are secured or unsecured on your home. If they are secured then they need to be dealt with urgently as the lender has the power to take possession of your property if they are not paid. We are going to discuss secured loans and what to do if you miss these payments.

Contact your lender

The first thing you do is you need to contact your lender to confirm the amount you owe and the steps you intend to take to pay them back. Many lenders would rather put in place a payment plan than go through a property repossession but there needs to be dialogue between the lender and the mortgage holder. It is very tempting (and common) for people in arrears to bury their heads in the sand rather than face up to the situation but the earlier steps are taken the better it will be. 

Most UK lenders are regulated by the Financial Services Authority (FSA) who have rules saying lenders must deal fairly with any customer who is in arrears. In practical terms each lender must:

• have a written policy on how to deal with customers in arrears;
  
• allow customers to set up a payment plans which is realistic
  
• send out regular information about the arrears;
  
• not put pressure on customers through too many calls or letters.
  

If you took out a mortgage before 31st October 2004 and you think you are being treated unfairly by a lender, you can complain to The Financial Ombudsman Service (0845 080 1800). If you took out a mortgage after this date, then FSA rules apply and it is best to contact them directly (0845 606 1234).

Help towards paying your mortgage

If you need help towards paying your mortgage then there are a number of options you can consider.

Check that you are not entitled to income support, child benefit, pension credit, jobseekers allowance, working tax credit or child tax credit. Contact your local Department for Work and Pensions office or local advice centre for more information.

Check to see if your mortgage has payment protection insurance. If it has but you are still refused this contact the national debt helpline.

Check to see if your lender will buy your home and rent it back to you (these are pretty rare and known as mortgage rescue schemes).

Check rent back schemes by private companies as they can buy your home and rent it back to you (similar to the mortgage rescue schemes). They can often offer you the option to buy back your home at a later date when you have overcome any debt problems. Please check below for links to one such specialist company.

Arranging to pay off the arrears

Do not arrange to borrow more money to pay off your existing debts as this will make matters worse in the long term. Switching all loans to a cheaper interest rate may be a sensible solution but increasing your debts is not.

In order to pay off arrears on secured loans you will usually have to pay extra monthly amounts to your lender. Lenders will sometimes ask for the arrears to be cleared over 12 to 24 months. Ask for a longer time to pay the arrears if you cannot afford to do this. If you cannot manage to clear the arrears as quickly as your lender wants, start paying the amount you have offered anyway and explain why you can only afford this, particularly if there are special circumstances (i.e. long-term illness, birth of a child, relationship breakdown or unemployment).

Other options to consider

• Change from an endowment mortgage to repayment/interest only mortgage
  
• Change from repayment mortgage to interest only to reduce monthly payments.
  
• Try and move onto a cheaper rate with your existing lender or move to a different lender.

What if I still can not afford my mortgage or arrears payments?

• Look for ways to increase your income (i.e. by renting out a room in the property) or reduce your other outgoings.
  
• Sell and rent back your home from a specialist rent back firm. Often the rent charged is less than previous mortgage payments.
  
• Sell your home and move to a cheaper home that you can afford.
  

What if they threaten to evict me?

If you have been given a court order (via the post) you will normally have 28 days notice of the hearing date. This court order does not mean you will be evicted on the date of the court hearing.  This is just so the court can hear the case for and against your eviction.  In order to understand the court hearing and preparation required we suggest you contact your local citizens advice bureau or national debt helpline.

Being in mortgage arrears is an incredibly difficult time for those experiencing them but it is very important to take action at the first instance of arrears. Unfortunately, many people get evicted unnecessarily by ignoring their lenders threats due to the stress of facing up to the situation.

 

 

The 8 Steps You Need To Take To Sell And Rent Back Your Home

This article is going to look at the typical sale and rent back process offered by the majority of specialist companies. This process will allow you to sell your property but stay in it Be aware that this is the typical process and may vary slightly between companies.

1. You contact a sale and rent back company via phone, email or online form and give them information about your property and situation.
2. They research your property based in the information given which may or may not include a visit to your property. If a visit is required then this will be free and arranged at a time to suit you.
   
3. hey contact you to make you a formal sale and rent back offer. This offer is normally made within a day or so of researching /visiting your property. This offer should include a purchase price as well as a monthly rental figure and should be confirmed by the company in writing.
   
4. You decide to accept or not accept the offer. If you accept the offer the Sale and Rent Back Company will ask you to sign an agreement confirming that you will go ahead with the offer they have made you. They should also provide you with any documentation you would like to see (i.e. the tenancy agreement detailing the rental figure, how much rent will increase each year, how long the tenancy is for). See a detailed list of the things you need to check at the end of this report.
   
5.  The Sale and Rent Back company will instruct their solicitors and the ones acting for you (chosen by them or by you if you request a particular company). You will then receive a Sellers Information Pack from the solicitors acting for you.
   
6.  A building surveyor will normally visit your home to check the condition of the property a few days after this. They will make sure they come at a convenient time for you.
   
7. Solicitors send you a tenancy agreement and other legal documentation to sign within next 3 to 4 weeks (quicker if a quick sale is needed such as in a repossession case).
   
8. When all documentation is signed and completed by the solicitors the sale will complete and your solicitor will pay off all your secured debts and release the remaining balance to your bank account.  You will become a tenant of the property on that day and the sale and rent back company will become your landlord.

Note that you should not be asked to pay for any valuations or fees during this process. If they are requested it is suggested you look for another firm – the majority of good firms will not charge for valuations. They should also pay the first £500 of your legal fees which in the vast majority of cases will be enough to cover the total costs. Remember, that the solicitor you choose will be acting for you impartially (even though the sale and rent back company may pay for them). Therefore, get them to check anything you do not understand. 

 

Before You Sell And Rent Back You Must Ask These 10 Questions

Before you chose a Sale and Rent Back company you need to find out the following:

1. How long can I stay?

It is extremely important that you receive confirmation about how long you can stay if you plan to sell and rent back. If you have no set timeframe and want to stay for the long term it is important that you receive confirmation in writing to this effect. This needs to be in both a letter of intent and the tenancy agreement must include a right to renew clause.

2. Will the rent rise and if so, when and by how much?

It is important you get the answer to this question in writing. It is common for landlords to raise rents every year or two but some sale and rent back companies may have longer fixed rent periods in exchange for a lower sale price. Matching annual rent rises with inflation or a small percentage (i.e 4 to 5%) is common. Be wary of a company that says it will never raise rents as they are likely lying (unless they have bought your property for a very small percentage of its market value).

3. Will there be a tenancy agreement?

If you are not offered one consider walking away. Having an Assured Shorthold Tenancy Agreement signed by both parties is very important to protect your rights as a tenant. Without this you may be classified as a squatter and forced to leave your property after the sale. 

4. Do you intend to sell the property in the future?

If you are hoping to stay for the long term, obviously you want this answer to be no or not until you decide to leave. A good sale and rent back company will intend to rent out the property for the long term (even if you decide to leave and they have to get someone else in). They will have a buy and hold strategy and should not rely on selling their rent back properties to make their money.

5. Who will be responsible for repairs?/p>

This should be clearly stated in the tenancy agreement but as a general rule the landlord (sale and rent back company) is responsible for all maintenance issues (i.e. broken boiler, leaking roof). This should all be made clear in the tenancy agreement.

6. Can I redecorate?

Most sale and rent back companies (and landlords in general) are okay with their tenants redecorating as long as they do not devalue the property in any way. It is in their interests for their tenants to feel like it is there home. You will need to get permission before you do any work.

7. Can I chose my own solicitor?

The sale and rent back company should allow you to chose your own solicitor and most of the good ones will pay the first £500 of their fees. However, they will normally suggest that you chose one that they recommend. This is because they know they will do the job properly and quickly. One of the main reasons property purchases take so long is because of delays with solicitors so if you do chose your own the sale and rent back company are unlikely to guarantee the completion date.

8. Will any fees be payable upfront?

A good sale and rent back company will not charge you any fees up front. They should pay for any valuations and surveys necessary. If you are asked for any money up front refuse and use another firm. Some less reputable companies ask for a valuation fee and then make a ridiculously low offer. 

9. Does the company have references?

A good reputable sale and rent back company should be able to provide you with testimonials from current clients.

10. How long will the process take?

A good company will be able to complete the sale in a timeframe that suits you. If you are not in a repossession situation they should have the ability and experience to complete quickly and stop the eviction (in 1 week or less if necessary). Normally the sale will take about 4 weeks but can be delayed if necessary (i.e. until the redemption penalty on the current mortgage expires)

 

How To Choose The Right Sale and Rent Back Company?

 

After looking at all the options you decide 'Yes, I want to sell and rent back my home' you need to find the best specialist company you can find. Selling and renting back your home is an extremely important decision so it is essential that you are well informed before you take action. The more information you have the more likely it is that you will make the best decision for you and your family. The aim of this article is to describe 4 factors that you need to consider before you choose a person or company to go with.

 

It is important you are comfortable with the person or Sale and Rent Back company you choose as it will be a long term relationship. The following four factors should be considered carefully before you make a final decision:

 

• Long Term Security: you need to be sure that the company is willing and able to offer you long term security. Get this in writing within the Tenancy Agreement which should give you the option to renew your tenancy every 6 to 12 months as long as you adhere to your obligations (i.e. pay your rent and look after the property). Some will include an automatic renewal clause meaning that the tenancy will be renewed automatically unless you say otherwise.

 

• Rent: you need to confirm the amount of rent you will be charged and also how often this rent is to be reviewed. It is normal for rent to be reviewed and raised in small amounts on an annual basis but this needs to be confirmed. An annual rise matching inflation, an annual rise matching the market rents in the area, or a fixed increase of 4 to 5% would be normal. You need to be confident that your new landlord will not raise rent unexpectedly or by a huge amount.

 

• Purchase Price: It is obviously in your interests to get a good price for your property but be careful when a company offers full market value for your property (or near to it) and says you can also rent it back for the long term. They will not be able to do this and make money. They are therefore very likely to be lying and they will either lower the price they offer you at the last minute, give a price that is much below market value but they pretend is at market value or try and recover their costs some other way. It costs money to buy a house and rent it back so a company needs to buy at a discount even if they only want to break even.

 

• Attitude & trustworthiness: It is important you feel the person or company buying and renting back your property will have a caring and professional attitude towards you, their future tenants. They will be responsible for the maintenance and safety of your property for the long term so it is important that they take this seriously. Some companies spend all their effort on closing the deal but fail to meet their responsibilities as landlords. As well as getting everything in writing you should feel that you trust them.

How To Escape The Stress of Mortgage Arrears

If you have missed any payments on your loans you need to check if they are secured or unsecured on your home. If they are secured then they need to be dealt with urgently as the lender has the power to take possession of your property if they are not paid. We are going to discuss secured loans and what to do if you miss these payments.

Contact your lender

The first thing you do is you need to contact your lender to confirm the amount you owe and the steps you intend to take to pay them back. Many lenders would rather put in place a payment plan than go through a property repossession but there needs to be dialogue between the lender and the mortgage holder. It is very tempting (and common) for people in arrears to bury their heads in the sand rather than face up to the situation but the earlier steps are taken the better it will be. 

Most UK lenders are regulated by the Financial Services Authority (FSA) who have rules saying lenders must deal fairly with any customer who is in arrears. In practical terms each lender must:

• have a written policy on how to deal with customers in arrears;
  
• allow customers to set up a payment plans which is realistic
  
• send out regular information about the arrears;
  
• not put pressure on customers through too many calls or letters.
  

If you took out a mortgage before 31st October 2004 and you think you are being treated unfairly by a lender, you can complain to The Financial Ombudsman Service (0845 080 1800). If you took out a mortgage after this date, then FSA rules apply and it is best to contact them directly (0845 606 1234).

Help towards paying your mortgage

If you need help towards paying your mortgage then there are a number of options you can consider.

Check that you are not entitled to income support, child benefit, pension credit, jobseekers allowance, working tax credit or child tax credit. Contact your local Department for Work and Pensions office or local advice centre for more information.

Check to see if your mortgage has payment protection insurance. If it has but you are still refused this contact the national debt helpline.

Check to see if your lender will buy your home and rent it back to you (these are pretty rare and known as mortgage rescue schemes).

Check rent back schemes by private companies as they can buy your home and rent it back to you (similar to the mortgage rescue schemes). They can often offer you the option to buy back your home at a later date when you have overcome any debt problems. Please check below for links to one such specialist company.

Arranging to pay off the arrears

Do not arrange to borrow more money to pay off your existing debts as this will make matters worse in the long term. Switching all loans to a cheaper interest rate may be a sensible solution but increasing your debts is not.

In order to pay off arrears on secured loans you will usually have to pay extra monthly amounts to your lender. Lenders will sometimes ask for the arrears to be cleared over 12 to 24 months. Ask for a longer time to pay the arrears if you cannot afford to do this. If you cannot manage to clear the arrears as quickly as your lender wants, start paying the amount you have offered anyway and explain why you can only afford this, particularly if there are special circumstances (i.e. long-term illness, birth of a child, relationship breakdown or unemployment).

Other options to consider

• Change from an endowment mortgage to repayment/interest only mortgage
  
• Change from repayment mortgage to interest only to reduce monthly payments.
  
• Try and move onto a cheaper rate with your existing lender or move to a different lender.

What if I still can not afford my mortgage or arrears payments?

• Look for ways to increase your income (i.e. by renting out a room in the property) or reduce your other outgoings.
  
• Sell and rent back your home from a specialist rent back firm. Often the rent charged is less than previous mortgage payments.
  
• Sell your home and move to a cheaper home that you can afford.
  

What if they threaten to evict me?

If you have been given a court order (via the post) you will normally have 28 days notice of the hearing date. This court order does not mean you will be evicted on the date of the court hearing.  This is just so the court can hear the case for and against your eviction.  In order to understand the court hearing and preparation required we suggest you contact your local citizens advice bureau or national debt helpline.

Being in mortgage arrears is an incredibly difficult time for those experiencing them but it is very important to take action at the first instance of arrears. Unfortunately, many people get evicted unnecessarily by ignoring their lenders threats due to the stress of facing up to the situation.

 

 

2 Situations Where Sale and Rent Back is the Wrong Choice

 

This article assumes you understand the sale and rent back process and will discuss 2 scenarios where selling and renting back your property is most likely not the best solution. If you are in these situations it is advisable you look at the alternatives which are suggested.

1. If you can reduce your monthly outgoings 

Some people may find that they can reduce their monthly outgoings by consolidating their debts to a rate that is more affordable. This does not mean taking out more debts to pay off existing ones but getting all existing debts onto the best interest rate possible. If financial difficulties are causing you to ask yourself 'shall I sell my home and rent it back?' it is often worth while looking at loan consolidation as a possible alternative.

This may allow you to keep ownership of your house but it does not guarantee that your future outgoings would be less than if you sold and rented back. If you are not sure what to do, it may be worth getting a rental quote from a rent back specialist (the good ones will give this free) and compare it to your potential outgoings if you consolidate your loan. This way you will be able to make a more informed decision.

2. When you want to get full market value for your property

If you want to get the best possible price for your property then sale and rent back is most probably not for you. Sale and rent back companies are not able to offer you 100% of the market value of your property due to the costs they incur buying it and the profit margin they need. Those companies that say they will offer 100% of the market value and rent your property back to you are most likely not telling the truth. They are trying to get their foot in the door and then will offer less. If they did offer 100% of the market value they could not survive as a business as they would incur a loss for every property they bought. Reputable sale and rent back companies normally offer up to 80% of the properties value.

You need to make sure you sell to a company that (a) is honest and upfront with you and (b) has a sound business model because if they go out of business there are going to be complications with you staying in your house.

If you want the best price possible for your property and do not need to stay in it then selling via an estate agent is the best solution. If you want the best price for your property, do not want to rent back and need a quick sale then a cash buyer is often the best solution. Many rent back companies can offer this ‘quick cash sale’ service (including us). 

The bottom line is: sale and rent back is not the solution for those wanting full market value for their property and beware of companies that say they can offer this.