Jax Real Estate Report

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Real Estate Agent - Reid Real Estate Group LLC
Minna Reid, REALTOR®, Broker Associate Fathom Realty, Jacksonville, Florida.

ARCHIVED BLOG POSTS

2012 

While none of my other HAFA experiences have ever been good ones, this Nationstar short sale was the exception to the rule and hopefully a sign of things to come. My clients came to me when their two mortgages with Nationstar had become debilitating and their commute to work had become unmanageab...
01/31/2012
In a short sale it is always the homeowners goal to get the “shorted” amount forgiven by the lender. For example – if the mortgage on a home is $400,000 and the home sells for $250,000, there was a shortage of $150,000 to the lender. Under normal circumstances the homeowner would receive a 1099 f...
01/30/2012
Bank of America FHA short sale success after 6 long months A happy ending to a long story….BUT….what I don’t quite understand is why Wells Fargo and GMAC can process their FHA short sales through Equator (a fast and efficient online platform), yet Bank of America still requires all FHA short sale...
01/24/2012
Recently, I submitted a new short sale package to McCue Mortgage for a CHFA short sale. My clients were recently divorced and the house has been ordered to sell by the court. Neither can keep the house. With a full package detailing the hardship and obvious lack of other options, McCue made a de...
01/17/2012
A loving colonial located in a tranquil, peaceful and desirable neighborhood!!! Overview Maps Photos $249,000 Single Family Home Main Features 3 Bedrooms2 Bathrooms1 Partial BathroomInterior: 1,826 sqftLot: 0.79 acre(s) Location 45 Shady Glen LaneSomers, CT 06071USA To get updates on open home d...
01/16/2012
Situations that will complicate your short sale Single mortgage short sales for folks with significant hardships are the simplest short sales to close.  But more often than not, short sales come with complicating factors that will make it more difficult to get your short sale closed. The most com...
01/16/2012
How Mortgage Insurance affects your short sale Many folks who get a loan without putting 20% down have PMI (Private Mortgage Insurance).  If you are not sure you have PMI, if you make a small payment every month in addition to your regular mortgage payment, this is usually Mortgage Insurance. Mor...
01/12/2012
Usually the answer is no.  As a condition of any short sale approval, the lender will usually require the seller have no proceeds from the sale. However – there are a few instances where the seller can in fact be paid an incentive from a short sale. These are: FHA short sales.  In an FHA short sa...
01/10/2012
If there is a single short sale that I enjoy lately it’s a Bank of America Fannie Mae owned loan.  This is quite possibly the single most predictable servicer/investor combination and one I am more than happy to take on.  Most Bank of America short sales will go through their Equator system, inc...
01/09/2012
HAFA - Governments "streamline" short sale solution? I dont know about you, but to me 14 months and streamline sounds like an oxymoron. I've never been a fan of HAFA, and this Seterus short sale certainly didn't sway my opinion. I originally listed the property and immediately my clients applied ...
01/03/2012
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Minna Reid

Associate Broker
smartphone(860) 416-1255
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