When Mike and I meet with new clients we want them to be completely comfortable with the whole process of buying and/or selling a home. One of the first things we tell them is that there is no such thing as a dumb question in real estate. So, when creating an email for our Radio Show listeners, we didn’t have to search very far for the name; NoDumbQuestion@gmail.com We love to answer your questions…. It keeps us on our toes 😉 So, bring on those questions you’ve been afraid to ask (we promise not to laugh….or roll our eyes) because there really are no dumb questions.
Here’s a Thanksgiving poem for all to share. Enjoy…
TWAS THE NIGHT OF THANKSGIVING,
BUT I JUST COULDN’T SLEEP.
I TRIED COUNTING BACKWARDS,
I TRIED COUNTING SHEEP.
THE LEFTOVERS BECKONED –
THE DARK MEAT AND WHITE,
BUT I FOUGHT THE TEMPTATION
WITH ALL OF MY MIGHT.
TOSSING AND TURNING WITH ANTICIPATION,
THE THOUGHT OF A SNACK BECAME INFATUATION.
SO, I RACED TO THE KITCHEN, FLUNG OPEN THE DOOR,
AND GAZED AT THE FRIDGE, FULL OF GOODIES GALORE.
GOBBLED UP TURKEY AND BUTTERED POTATOES,
PICKLES AND CARROTS, BEANS AND TOMATOES.
I FELT MYSELF SWELLING SO PLUMP AND SO ROUND,
‘TIL ALL OF A SUDDEN, I ROSE OFF THE GROUND.
I CRASHED THROUGH THE CEILING, FLOATING INTO THE SKY,
WITH A MOUTHFUL OF PUDDING AND A HANDFUL OF PIE.
BUT, I MANAGED TO YELL AS I SOARED PAST THE TREES….
HAPPY EATING TO ALL – PASS THE CRANBERRIES, PLEASE.
MAY YOUR STUFFING BE TASTY,
MAY YOUR TURKEY BE PLUMP.
MAY YOUR POTATOES ‘N GRAVY HAVE NARY A LUMP.
MAY YOUR YAMS BE DELICIOUS.
MAY YOUR PIES TAKE THE PRIZE,
MAY YOUR THANKSGIVING DINNER STAY OFF OF YOUR THIGHS!!
Mike’s “Heritage Turkey” raised by a local 4-H’s from Petaluma. The BEST flavor in a turkey money can buy! 28 pounds of “Slow Food” magic. And that I know it’s not just a big, fat seagull–they left all the vital parts for identification!! Yummmmy!
From the Mike Kelly and Allison Norman Team…..HAPPY THANKSGIVING TO ALL
Jamelie S. Samonte is Sr. Loan Consultant with Prospect Mortgage with 20+ Years in Residential Lending
She is Prospect’s Top Funding Producer in Sonoma/Napa County – 6 Districts in Northern California.
Jamelie and I will be chatting it up today….and bringing a woman’s perspective to today’s show. She and I share many of the same values and work ethics….number one being communication and empathy for our clients. She is extremely knowledgeable about the products she offers and knows what it takes to get a loan through the underwriting process…and approved. She does it with a gentle, yet firm and persistant manner.
Effective communication, Product Knowledge, REO Financing
STRS ; State Teachers Retirement System
Contact Jamelie at firstname.lastname@example.org or call 707-535-1253 or 707-696-6054
|Short Sale Myths A short sale can be an excellent solution for homeowners who must sell and owe more on their homes than they are worth. Unfortunately, a number of myths about short sales have developed, and it is important to understand the reality of this process should you find it meets your current needs.
Myth #1 – The Bank Would Rather Foreclose than Bother with a Short Sale
This is one of the most common misconceptions. The reality is that banks do not want to foreclose on your property because the foreclosure process is incredibly costly. Banks, investors, and even the federal government have all publicly stated that if a person is qualified for a short sale, the deal needs to be considered. Overwhelmingly, banks receive more on their investment through a short sale than a foreclosure.
The qualifications for a short sale include:
1. Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
2. Monthly Income Shortfall – “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
3. Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.
Myth #2 – You Must Be Behind on Your Mortgage to Negotiate a Short Sale
While this may have previously been the case, today lenders are looking for verifiable hardship, monthly cash flow shortfall, or pending shortfall and insolvency.
If you meet these three requirements and believe that you soon may be unable to afford your mortgage, act immediately. Any delay could limit your options. Do not wait until the countdown clock to foreclosure has started and you have even less time left.
Myth #3 – There is Not Enough Time to Negotiate a Short Sale Before My Foreclosure
This is a myth that probably hurts homeowners the most. Many do not realize that foreclosure is a process, and that there is time to make decisions that may result in better outcomes.
The foreclosing party—in most cases a lender—can stall a foreclosure up to the final day of the process. Today, many lenders will stall a foreclosure with as little as a phone call from you explaining that you are trying to sell, and almost all lenders will stall a foreclosure with a legitimate contract. For real estate professionals who understand foreclosures and short sales, there is time available until the foreclosure process is complete.
Myth #4 – Listing My Home as a Short Sale is an Embarrassment
It is understandable to have reservations about letting the world know that you owe more on your home than it is worth. However, according to recent estimates, one out of five homeowners in the U.S. is in the same situation. You are to be congratulated for admitting you need help, taking action, and finding a professional who can work with you toward a solution.
With recent estimates showing 40-60% of U.S. sales will be short sales or foreclosures, you are not alone.