Well, we survived another Short Sale battle. There wasn’t a doubt in my mind that we wouldn’t-the issue didn’t make any sense.

At the last minute-I.E., day before closing, the negotiator with Chase bank, who mind you, had been on top of communication until this point, received the final settlement statement for closing.  She said that investor would not allow prepaids for the buyer to be paid by the seller/bank on this file. Prepaids??? We have closed dozens and dozens of files where the seller/bank paid prepaids on the buyers behalf on the HUD.

I immediately told our title company that I would handle it.  I called our sellers to let them know the issue, as well as the buyers agent, in case I was still pushing powers that be, morning of closing.

I left an urgent voice mail for our negotiator letting her know that this $1600.00 issue was going to kill our deal, and that if it was Chase’s stance to not pay borrower prepaids:

1) It should have come up before now-they had the purchase agreement for two months.

2) If it was Chase’s stance, we needed to go to whomever, right now, to get an exception.

She told me to call her supervisor.

I called Chase’s Executive Resolution and they let me know that FNMA was the investor.  I knew if I didn’t get anywhere with Chase, I was going to FNMA.  If something makes good business sense, it should be done, period.

I also left a message for one of Chase’s Executive team to see if they could assist.

I knew the conversation with her supervisor was not going to go well, or he would have picked up the phone or had the negotiator allow the issue to be resolved at that time.

I called him, and was met with one of the strongest personalities I have ever come across in Short Sales, and I have come across PLENTY.

He demanded to know what the issue was, and I told him Chase wouldn’t allow prepaids to be paid by the seller/Chase on this short sale.  We went round and round-I thought he was trying to have a jousting match, he on his soapbox, me ready to call anybody in the country to get this file closed.

I can honestly say, if it wasn’t for my title insurance/closer background, he would have bulldozed me with his fast pushy talking.

I held my ground and he finally figured out “another” way to appropriate the $1600 on the hud and ask what in the world the issue was.  I explained his negotiator said this HUD was not okay, that was the WHOLE issue.  We got the issue resolved, the HUD remained the same, and we are closing on this file in a couple of minutes.

For more information on Indianapolis Short Sales:

Before you Abandon your property

Facing Foreclosure? Find out how we can help!

If you are behind on your mortgage payments and thinking of doing an Indianapolis Short Sale, Franklin IN Short Sale, Greenwood IN Short Sale, Avon IN Short Sale, Westfield IN Short Sale, Carmel IN Short Sale, you need a persistent experienced agent that knows their way around a short sale.  Someone doing their first one, is not going to have the same knowledge as someone with 50 closed or 100 closed…

Agents who have not done a Short Sale-in fairness to your client, you should partner on your first several with a very experienced Short Sale agent.  Read all that you can on Short Sales, and know that each Short Sale will bring a different set of guidelines or challenges, and that is what we are here for!

If you need assistance with your Indianapolis IN Short Sale or Indianapolis Real Estate, or surrounding areas, give us a call today. 317-885-8858

About the Author: The above info regarding Indianapolis Short Sales was provided by: Heather Fitzgerald, who has over 15 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-885-8858. Thinking of selling your home or buying your next home? We can help you with this. I service the following areas: Greenwood IN Real Estate, Indianapolis IN Real Estate, Franklin IN Real Estate, Whiteland IN Real Estate, Mooresville IN Real Estate, Martinsville IN Real Estate, Avon IN Real Estate, Carmel IN Real Estate, Westfield IN Real Estate and surrounding areas. We are experienced Greenwood IN Real Estate Agents.

We have also closed numerous Short Sales: Greenwood IN Short Sales, Indianapolis IN Short Sales, Avon IN Short Sales, Mooresville IN Short Sales, Carmel IN Short Sales, Westfield IN Shortsales. Check more properties at no obligation: www.SmithFitzgeraldTeam.com

Copyright © 2012 By:

Heather Fitzgerald- Indianapolis Short Sales. All Rights Reserved.

Mass Avenue was laid out in 1821 as one of four diagonal streets leading to the heart of Downtown. Then in the 1960′s, construction for I-65 inner loop cut off Mass Ave from outside traffic, hindering its vitality.  That has changed with revitalization going on downtown.

A story of revitalization, Indianapolis-Mass Ave. is hip and historical. There is a mix of galleries, shops, restaurants and theatres. The Murat is within walking distance. 757 Mass Ave offers art galleries, coffee shops and clothing stores within walking distance.

If you need assistance with your Indianapolis Real Estate, or surrounding areas, give us a call today. 317-885-8858

About the Author: The above info regarding Mass Ave was provided by: Heather Fitzgerald, who has over 15 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-885-8858. Thinking of selling your home or buying your next home? We can help you with this. I service the following areas: Greenwood IN Real Estate, Indianapolis IN Real Estate, Franklin IN Real Estate, Whiteland IN Real Estate, Mooresville IN Real Estate, Avon IN Real Estate, Carmel IN Real Estate, Westfield IN Real Estate and surrounding areas. We are experienced Indianapolis Real Estate Agents.

Check more properties at no obligation: www.SmithFitzgeraldTeam.com

Copyright © 2010 By: Heather Fitzgerald- Mass Ave. All Rights Reserved.

On FHA loans for Carmel IN Short Sales and Westfield IN Short Sales, most of the lenders that we are dealing with want a specific date of abandonment, why, and sometimes a  relocation due to loss of job has even been put to the test.  Talk with your agent and with your lender before you abandon your property!

If you need assistance with your Carmel IN Short Sales and Westfield IN Short Sales, or surrounding areas, give us a call today. 317-885-8858 About the Author: The above info regarding Greenwood IN Short Sales was provided by: Heather Fitzgerald, who has over 15 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-885-8858. Thinking of selling your home or buying your next home? We can help you with this. I service the following areas: Greenwood IN Real Estate, Indianapolis IN Real Estate, Franklin IN Real Estate, Whiteland IN Real Estate, Mooresville IN Real Estate, Martinsville IN Real Estate, Avon IN Real Estate, Carmel IN Real Estate, Westfield IN Real Estate and surrounding areas. We are experienced Greenwood IN Real Estate Agents. We have also closed numerous Short Sales: Greenwood IN Short Sales, Indianapolis IN Short Sales, Avon IN Short Sales, Mooresville IN Short Sales, Carmel IN Short Sales, Westfield IN Shortsales. Check more properties at no obligation: www.SmithFitzgeraldTeam.com Copyright © 2010 By: Heather Fitzgerald-Carmel IN Short Sales and Westfield IN Short Sales. All Rights Reserved.

Using Social Media For Short-sales

There are occasions where real estate agents need to pull all the stops, yes, many of us have taken additional training, sat through classes and each and every short-sale we complete seems to be more education than any class has offer!  Lets face it short sales are unique and each and every situation is different but recently I found many of the banks we work with are online where the connection is a little simpler.  They seem to react quickly and respond rapidly.

• Did you know you can reach Bank of America on twitter?   @BofA_Help

• Wells Fargo and Wachovia have their own blog?

• Suntrust is on facebook!

• Suntrust Mortgage on LinkedIN

• You can follow your bank on Bank Twitter!

As you can see there are many ways to reach banks when you can’t find the answers via phone or email.  As a short sale specialist I know that you have to be relentless to get the job done but more importantly pull all the stops to make contact including using social media!

How about you, have you ever contacted a bank online through social media?

We have closed numerous Short Sales: Indianapolis IN Short Sale, Greenwood IN Short Sales, s, Avon IN Short Sales, Mooresville IN Short Sales, Carmel IN Short Sales, Westfield IN Shortsales. Check more properties at no obligation: www.SmithFitzgeraldTeam.com If you are behind on your payments and are not sure what to do, contact Heather Fitzgerald Today! We find solutions for you!

Mallow Run Winery - 6964 W. Whiteland Road, Bargersville, 317-422-1556

Grape Inspirations Winery - 1307 S. Rangeline Road, Carmel, 317-705-9463

Chateau Thomas Winery - 6291 Cambridge Way, Plainfield, 317-837-WINE

Easley Winery - 205 N. College Avenue, Indianapolis, 317-636-4516

Ferrins Fruit Winery - 89 First Avenue SW, Carmel, 317-566-WINE

Buck Creek Winery - 11747 Indian Creek Road South, Indianapolis, 862-WINE

Simmons Winery – 8111 E. County Road 450 N, Columbus-812-546-0091

If you are new to Indianapolis and looking to find your new home, keep our team in mind for your Indianapolis and surrounding counties Real Estate needs!

Heather in Indy-Indianapolis IN Short Sale Specialist

Heather Fitzgerald-REALTY WORLD-Harbert Company, Inc.

317-371-2622

www.SmithFitzgeraldTeam.com

“Government is not reason, it is not eloquence, it is force;    like fire, a troublesome servant and a fearful master. Never for a moment should it be left to irresponsible action.”  George Washington

“The basis of our political system is the right of the people to make and to altertheir constitutions of government”

George Washington

“Without continual growth and progress, such words as improvement, achievement, and success have no meaning.”  Benjamin Franklin

“If a man empties his purse into his head, no man can take it away from him. An investment in knowledge always pays the best interest.”  Benjamin Franklin

“Reputation is what men and women think of us; character is what God and angels know of us.”

Thomas Paine

“Give to every other human being every right that you claim for yourself – that is my doctrine”

Thomas Paine

My business partner Pam and I work on numerous Indianapolis IN Short Sales.  If there is a tough Short Sale, my office comes to me to ask my thoughts or what would I do.  I help my broker out when one of his assistants occasionally gets stuck on a Short Sale.

There is a lot to Indianapolis Short Sales and it changes constantly, and we have to roll with it and push forward on behalf of our clients.

Last week one of my broker’s Short Sales got hung up again.

It had been hung up once because the file kept being reassigned to negotiators.  In short, the file fell thru the cracks.  My broker’s assistant Lisa and I pushed and pushed and finally got an approval.

Now, we are a couple of days before closing and it turns out that the buyers agent forgot to turn in to us a name change in the contract on the buyer’s behalf.

Now this might not seem like a big deal, but with Short Sales it can be an incredible deal to the seller’s Short Sale bank.

There have been cases of fraud where the seller would sell to a family member and the bank would feel taken advantage of.  Sometimes they were taken advantage of.  To keep this at a stand still, many banks have Arms Length Transaction Forms signed prior to closing to ensure that buyers, sellers and their agents are not related.

Some banks will not allow buyers to be substituted at the last minute specifically due to this.  In my broker’s case, there was a need for the buyer to have a cosigner, so they were adding a buyer, but that is still not good to do right before closing.

Lesson from this: Buyer’s Agents get those changes to listing agents asap, and listing agents make negotiator’s aware of this asap, so that if this is one of those banks that puts the buyer’s name on the approval letter, that you and all parties are covered by having the correct names on the Short Sale approval letter.

About the Author: The above info regarding Indianapolis Short Sales was provided by: Heather Fitzgerald, who has over 15 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-885-8858. Thinking of selling your home or buying your next home? We can help you with this. I service the following areas: Greenwood IN Real Estate, Indianapolis IN Real Estate, Franklin IN Real Estate, Whiteland IN Real Estate, Mooresville IN Real Estate, Martinsville IN Real Estate, Avon IN Real Estate, Carmel IN Real Estate, Westfield IN and surrounding areas.

We have closed numerous Short Sales: Indianapolis IN Short Sale, Greenwood IN Short Sales , Avon IN Short Sales, Mooresville IN Short Sales, Carmel IN Short Sales, Westfield IN Shortsales. Check more properties at no obligation: www.SmithFitzgeraldTeam.com

Copyright © 2010 By:

Heather Fitzgerald-Indianapolis Short Sales. All Rights Reserved.

There are many ways to lose your home but having the Sheriff show up at your door is the hardest. For owners who can’t afford to keep mortgage payments current any longer or are behind already on their mortgage, there are alternatives to bankruptcy or foreclosure.

One of those options is called a “short sale.”

More than half of our listing inventory are Short Sales and Foreclosures.

When lenders agree to do a short sale property on your home, it means the lender is accepting less than the total amount that is owing.

It is at your lender/s discretion whether they accept to approve your home for an Indianapolis Short Sale listing, but it is worth a try!

If you are considering buying or selling Indianapolis Short Sales, there could be drawbacks. For your protection, we suggest that all borrowers:

• Obtain legal advice from a real estate lawyer with strong Short Sale knowledge
• Call a CPA for tax ramifications.

We are not CPA’s or attorneys, so we can’t advise you on these consequences.

Lenders have varying steps for Short Sales, but these are typical for the Short Sale Process:

• Call Your Lender
  Let your lender know you are working with an experienced Short Sale Agent that has listed your home and that you need their Short Sale package if they require their own packet.

• We Will Submit Your Letter of Authorization
  Once you contact us to list your home as an Indianapolis Short Sale, this is one of the first steps that we take.
• Hardship Letter
  Give all details that are critical to your situation: tax increases, divorce, separation, medical costs, job loss, etc. We have example Hardship Letters if you need them.

• Proof of Income and Assets
  You will need truthful and honest about your financial situation and disclose assets and all liabilities. Your lender might require their Financial Worksheet be filled out, and if not, we have a copy that you can utilize.

• Copies of Bank Statements
  Your lender generally needs your last two most recent months bank statements, and large deposits or withdrawals will possibly be questioned by your lender/s.

We have closed numerous Short Sales: Indianapolis IN Short Sale, Greenwood IN Short Sales,  Avon IN Short Sales, Mooresville IN Short Sales, Carmel IN Short Sales, Westfield IN Shortsales. Check more properties at no obligation: www.SmithFitzgeraldTeam.com

If you are behind on your payments and are not sure what to do, contact Heather Fitzgerald Today!

We find solutions for you!   317-371-2622

Tips For Shortsale Buyers – Remember Sellers Play The Waiting Game Too!

1. Short sales require lots of patience and know the process can be long.  So if you need to move yesterday I highly recommend you do not look at short sales instead look at homes where the seller can accommodate your move in date (closing date).
2. Buyers, sellers and real estate agents are at the mercy of the banks time lines.  That’s right, as listing agents we relentlessly contact the bank with various methods to push the sale along.  Just because your agent has not heard from us on a daily basis does not mean we are not working it.  Speaking for our team we follow up and watch the banks time lines very closely.
3. Get yourself educated!  When considering buying a short sale ask the real estate agent you are working with how the process works.  If they don’t know, then maybe you are working with the wrong real estate agent.  Sometimes when working with the wrong real estate agent, your dream home ends up being someone else’s.
4. Short sale purchases are never a sure thing, meaning that sometimes because the seller is willing to accept the shortage at the end the bank must agree.  Keep in mind sometimes, the seller is required to fulfill a financial obligation to the bank  and in some cases either the seller is not willing or cannot meet the obligation such as being 1099′d or pay back the difference in a note.
5. Sometimes agents price short sales too low and numerous offers come in.  One thing to remember is that the bank has final approval on the acceptance of a shortage and the numbers need to make sense to the bank or lender.  Make sure someone pulls comparable on your behalf and if you really want the property offer your best and highest offer.
6. Banks do not always accept the highest offer, they look at terms and the strength a buyer has to purchase the property.
7. Calling a listing agent over and over again will not get your short sale processed any faster instead it will hinder the time available in the day to follow up and deal with the most important parts of the real estate transaction.

Keep in mind the real estate agents and the seller understand how you feel but realize not only are you sitting on pins and needles playing the waiting game so is the seller!  If you are in the market to buy a short sale and want to work with someone experienced and knowledgeable in the Greenwood Indiana area, it would be our pleasure, contact the SmithFitzgerald Team!   Our team has tremendous success in closing IN short sales and would love to add you to the list of satisfied clients!