Columbia Maryland Real Estate

I was just recently asked what is Keller Williams all about? So I have decided to post a little info about KW and why we are unique. Often, we judge the caliber of people by the company they keep - this is why I would like to tell you a little bit about Keller Williams Realty and my office within...

A little mercy for the holidays, Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures during the holiday season. The two companies say they will halt foreclosure sales between Nov. 26 and Jan. 9, while they evaluate whether borrowers qualify for a new loan modificatio...

  Did you know, Prince Georges County provides a special exemption from local transfer tax to police officers and sheriffs who are first time homebuyers There is also a reduction in the local transfer tax for teachers (1% of the purchase price rather than 1.4%).  The stipulation for both, is that...

    Nursing the market Freddie Mac today told mortgage servicers it was doubling the amount of money it pays for each workout that keeps a delinquent borrower with a Freddie Mac-owned mortgage out of foreclosure.  This may be the beginning of a recovery. Freddie Mac also announced it would start ...

  BIG NEWS FOR THE HOUSING INDUSTRY:  President Bush signed the new housing rescue bill into law this morning.  Some of the highlights of the bill are: v     Assistance will be given to people who are trying to stave off foreclosure v     Tax refund will be given to first time homebuyers v     Ba...

Seller Considerations.   A seller has many different options other than a Short Sale in case the seller finds itself in a hardship or in a default situation.  This seminar just evaluates a Short Sale.  Short Sales are not necessarily good for all sellers from a tax or financial perspective, so yo...

Short Sale process in order for a closing to occur.  Most lenders will not even consider a Short Sale process until a contract is submitted.    Final approval from all lenders must be obtained in order for the closing to occur.  This includes negotiating the amounts that are to be repaid at closi...

The Process.   There is no universal set of rules or set process regarding a Short Sale, and each lender performs their Short Sale process differently.  However, there are some basic general steps that can be expected and considered:   (1) The seller has to prove the seller is experiencing some f...

Why consider a Short Sale?   Short Sales do allow a closing to occur and, therefore, a commission to be paid.  A Short Sale also allows the seller to sell the property upon its own terms, subject to the lender's consent, and possibly includes forgiveness of the deficiency amount.  The effect of a...

A Short Sale is one of many alternatives that sellers have available to them.   If a seller is in trouble with a particular loan on a particular piece of property, the seller, depending on the seller's ability, can:   (1) reinstate their mortgage; (2) arrange a loan workout or re-payment plan; (3...