How Long After a Short Sale Can a Lender Go After Me for the Difference?

April 16, 2010 By

Don’t you feel like it seems like the short sale game is changing on a daily basis? One day the government comes up with a new program that states our sellers are not liable for the tax portion of the forgiven debt only to find out that again they wasted the Tax Payer’s money (our money) because only a tiny pool of homeowners actually qualify! Listen in as I go over how long after a short sale transaction that a lender can go after our clients (the homeowner(s)), what to do when you are negotiated a short sale only to find out the lender requires the property be listed by a licensed real estate agent, the best place to find money today to finance our deals, and much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

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Filed Under: Business, buyers, deals, difference, entrepreneur, foreclosure, fridaycoffebreak, government, home, house, invest, Investment, investor, lender, mentoring, patrick precourt, Preforeclosure, Real Estate, sellers, short sale, Short Sales, video

Disclosure, Disclosure, Disclosure — What Exactly Do I Need in Writing to “Protect” Myself?

March 19, 2010 By

Disclosure is the number one thing that real estate investors and licensed real estate agents have to do in today’s real estate climate. When you are sitting with a seller or talking to them on the phone you have to make sure you are crystal clear on what you want to accomplish. If you are an investor “tell them” you are an investor, if you are looking to assign a contract that you have on their house “tell them”, if you want to do a short sale flip “tell them”, well you get the point! Disclose everything! On this week’s Friday Coffee Break we not only cover the proper disclosures that you need sign but we also cover what kind of language is considered “too vague” on a short sale acceptance letter, how to renegotiate a lower offer after you have already gotten a short sale acceptance letter, the important steps you need to take when you reselling a property to an FHA buyer so you DON’T screw up your deal, a clarification on the HAFA program and what investors the program covers and much more.  Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

Interested in attending our Short Sale Bootcamp in Orlando, FL on March 25-28th? Click here to learn more.


Filed Under: agent, bob lachance, Business, buyer, disclosure, foreclosure, fridaycoffebreak, goals, homes, house, houses, Investment, licensed, north shore enterprises, patrick precourt, Preforeclosure, Real Estate, real estate agents, realtors, seller, short sale, Short Sales