MN Homeowners Avoid Foreclosure!
A Short Sale Minimizes Homeowner Losses*
Did you know your bank may consider a short sale
and it won't cost you?
This means the bank may accept less than you owe on your home
if you are experiencing any of these unfortunate circumstances:
Upside down on your mortgage
Mortgage increase or adjustment
Reduced income
Unemployment
Medical emergencies
Sudden illness
Divorce
Death of a spouse
Military service Every month that passes could be damaging your credit!
Little work is needed from you.
Typically, MN sellers just gather their financial information and documents.
Short Sale Benefits
Reduce your debt
Limit bad marks on your credit
Sell your home for less than you owe
Be eligible to buy again in 2 years
MHA program lender no cost to seller
Don’t pay taxes on balance - Debt Relief Act 2007
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Why not ease your financial stress!
Reduce your debt!
The current MN real estate market and your financial situation
may make you a good candidate for a short sale.
Short Sale vs Foreclosure
Short Sale is less costly
Short Sale is often quicker
Short Sale repurchase 2 years
Short Sale has less credit damage
Short Sale allows you to live in it until it closes
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My business model is centered around building your case
and facilitating the quickest sale!
I prepare and handle lender negotiations, paperwork, and timelines.
I will list and market your property.
I will help the Buyer Agent understand the circumstances.
I am with you every step of the way from listing your home on the market to closing!
And if you need a home to go to I can help with locating a rental,
rent-to-own, or contract for deed.
About Me
Highly experienced working with banks and lenders -
upper management and staff.
I understand the complexities in Short Sale negotiations, paperwork packages and sales.
Strong negotiating, finance, pricing, and contract skills.
Quick to respond and offer regular communication with seller
to stay informed.
Quick to respond to lender questions and answers.
Regular communication with lender.
Community Activity:
Affordable Housing Committee Member 1992
Affordable Housing Committee Chairman 1993
Affordable Homes Congress Co-founder 1994
Affordable Housing Committee Vice Chairman 1995
Mortgage Association of MN Board of Directors Member 1998-2001 / 2004-2007
Fannie Mae Lender Advisory Committee Member 1998-2003
Affordable Housing Committee Chairman 1998-2001
Subcommittee Chairman Dedicated to Consumer Advocacy
Minnesota Housing and Finance Lender Advisory Committee 2005
Affordable Housing Committee Chairman 2005
Experience:
Began real estate career 1985
Nearly 20 years experience as a residential finance trainer and speaker.
Nearly 24 years experience specializing in lender negotiations and
keeping offers together.
Realtor® trained in Short Sales - I'm not an investor!
Center for Asset Preservation Short Sale Certified
Harris Real Estate University
MN Short Sale Comfort level: HIGH!
MN Short Sale Homeowner Free Reports
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There is no cost or obligation to chat with me. Know your options!
Bob Elliot - Licensed Real Estate Professional 612.578.6162
Tax relief for struggling homeowners
Mortgage Forgiveness Debt Relief Act 2007
Making Home Affordable Program Performace Report Oct 2009
Making Homes Affordable Housing Counselor FAQs
New Government Making Home Affordable Plan
Making Home Affordable Servicer Performance Report Sept 2009
What does it mean if Fannie Mae owns my home?
Fannie Mae post preforeclosure sale (short sale) purchase time frame
Does Fannie Mae own your mortgage?
Does Freddie Mac own your mortgage?
Fannie Mae Loan Workout Hierarchy
HUD FHA Preforeclosure Program
HUD FHA Loss Mitigation Details
HUD Counselors - Free
VA Compromise Short Sale St Paul, MN
Foreclosure laws statewide
Standard and Poor's Case Shiller Housing Index
Unemployed Get Help to Save Home
Unemployment Benefit Estimation Tool
MN Attorney General Foreclosure Information
Fannie Mae New Deed for Lease Program Announcement
Fannie Mae Deed for Lease FAQs
Fannie Mae Deed for Lease Program Guidelines
HAMP to HAFA Update Release Nov 30, 2009
MHA Servicer Performance Report November 2009
Case Shiller Home Price Index Nov 24 2009 Release
Case Shiller Home Price Index Dec 29, 2009 Release
MHA Servicer Performance Report December 2009
MHA Servicer Performance Report Jan 2010
Case Shiller Home Price Index Jan 2010
*The information and notices contained on this website are intended
as general and informational and are not intended, and should not be regarded,
as tax financial or legal advice. Readers who have a particular tax or legal questions
require tax or legal counsel and should seek the advice of a tax consultant or attorney.
*Guidelines are subject to change without notice.
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