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6: Will My Lender Require a Promissory Note in Exchange for Approving my Florida Short Sale?

Posted by Chris On May 9

Promissory note 6: Will My Lender Require a Promissory Note in Exchange for Approving my Florida Short Sale?

This is the 6th tip of “10 Questions You Should Ask About Florida Short Sales” eBook, which is available as a FREE download.

Lenders occasionally require a new obligation in exchange for approving a Florida short sale. This new obligation is typically in the form of a promissory note.

Most promissory notes required after short sales are unsecured debt obligations – not unlike the note you signed for your original home loan but without the mortgage to secure the debt.

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10 Questions You Should Ask About Florida Short Sales
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4. How Should I Handle Junior Liens or Second Mortgage Short Sales?

Posted by Chris On April 11

This is the 4th tip of “10 Questions You Should Ask About Florida Short Sales” eBook, which is available as a FREE download.

It is not uncommon for homeowners and real estate professionals to consider a short sale impossible if there is more than one mortgage involved or junior liens (i.e., liens or judgments that affect the title to the property). This is not surprising for a number of reasons but is nonetheless a misconception.

As you may imagine, there are plenty of homeowners who have more than one mortgage on their properties. Perhaps they took out an equity line to pay for a child’s college or bought a property with 80/20 financing.

There are plenty of these situations and you may be in one and wonder rightfully whether or not you can successfully short sell your property on a second mortgage short sale.

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10 Questions You Should Ask About Florida Short Sales
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Cape Coral Realtor Asks Winged Foot Title for Help on “The Hardest Short Sale Ever” (Part 1)

Posted by Chris On January 31

You’ve been there, I’ve been there – WE’VE ALL BEEN THERE!

That point in time when you look at all the facts in a transaction and come to question if it will ever close!!!

Do throw in the towel? Call for help?

If you are like most of us, you probable have invested a lot of time and energy into the transaction, so giving up and throwing in the towel is not an option!

That is when we enter the picture and I come to experience the ”The Hardest Short Sale Ever” icon wink Cape Coral Realtor Asks Winged Foot Title for Help on The Hardest Short Sale Ever (Part 1)

In the spring of 2010, a Cape Coral REALTOR® who had heard me speak on short sales at the Cape Coral REALTOR ® Association called me to ask if we could help on a potential short sale. This was a seasoned professional; but I could tell from his tone that he seriously doubted that the deal in question would ever be able to close. Because of the size of the deal ($1M+) though, it made sense to at least give it a shot.

Here is a list of items that, at first blush, supported the realtor’s doubts about the possible success of this Cape Coral short sale:

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Our Services, Short Sales, Title Company Closing Services
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Bank of America Short Sale Relocation Assistance Program Extended to December 12th 2011!

Posted by Chris On December 6

Not sure if you are on Bank of America’s email list, but if you are not – I wanted to share with you this great news!

Screen Shot 2011 12 06 at 2.36.48 PM Bank of America Short Sale Relocation Assistance Program Extended to December 12th 2011!

 

Here are some of the Frequently Asked Questions:

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closing services, Fort Myers Title Company, Short Sales
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Florida Short Sale Realtor & Winged Foot Title eBook Work Together To Earn Listing!

Posted by Chris On August 18

We got some great news last week.  Fort Myers, Florida Short Sale REALTOR® Betty Katke of Jones & Co. Realty reported to us that she successfully used our free eBook to earn a short sale listing that would have gone to a family friend of the owner.  Great job, Betty!  Watch Betty’s story now:

For more information from Betty, please call her at (239) 677-1818 or email her at bettykatke@gmail.com.

20110816 WFT ShortSale eBook Web 175px Florida Short Sale Realtor & Winged Foot Title eBook Work Together To Earn Listing!
If you would like a free copy of our powerful eBook on 12 Things You Need to Know to Survive a Short Sale, download it now at http://www.wingedfoottitle.com/ebooks/.  If you would like help with your marketing efforts, pick our expert’s brain – call Rich at (239) 985-4142.  And, as always, if you or someone you know needs assistance with their Florida short sale or Florida title insurance and real estate settlement services, call us today at (239) 985-4142 or contact us through the web.

closing services, Short Sales
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NOT LEGAL ADVICE: This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Every effort has been made to assure that this information is up-to-date as of the date of publication. It is not intended to be a full and exhaustive explanation of the law in any area. This information is not intended as legal advice and may not be used as legal advice. It should not be used to replace the advice of your own legal counsel.

Winged Foot Tite, LLC is not associated with the government, and our [short sale orchestration] service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.