Foreclosure, Short Sale in your Credit Report? When can you buy?

Are you a homeowner with a short sale, deed in lieu, or foreclosure in your past?  Are you wondering if you can EVER buy another home again?
If you have a foreclosure in your record, there is a seven year waiting period before you can purchase another property.  BUT there is a three year waiting period if there are extenuating circumstances.  Interesting huh?
If you have a deed in lieu or short sale in your credit report, the waiting period could be at least 2 years if you can put 20% downpayment on your purchase.  WOW!!!  Please read the above articles I have scanned for further information provided by United Lending.
Here is the good news, if you are facing foreclosure, wouldn't it be more sensible to go thru Short sales?  This way, you can purchase a home again in as little as 2 years?  After all, it will be a minimum of two years to probably repair your credit AND save for the downpayment to purchase a home.  So if you are in this situation, PLEASE give me a call and let me see if you are a short sale candidate.  Please call me at (512)786-7355 to see if a foreclosure can be avoided thru short sale.

Where to find Foreclosures/REO's in Austin

I received a call from a buyer who was searching for foreclosures or distressed properties and told me that he found a foreclosure home he was interested in. The website gave him the name of the street but when he wanted to see the details of the home, the site asked him for his credit card information. He asked me if I could do some research for him. I told the buyer that my website was just the site he needed to search for foreclosures.

A few months ago, another buyer kept calling me to show her foreclosures that she found on a website. But when I pulled the information, the address was sold months ago or the address did not exist. I told her that all she did was got me and her excited and I asked her to please stop using that website because the information was incorrect.

My website gives you accurate and real-time updated MLS information of foreclosure listings ONLY. Enter your search criteria, either by town, school disctrict, or zip code, enter your home criteria price, number of bedrooms, square footage and YES, the list returned will only be REO's or foreclosures with the addresses and details! You don't have to enter your credit card number, your SSN OR give me your first born!

Well, what are you waiting for? Go find yourself a great deal, then call me when you are ready for your showing. The website to search for REO's/foreclosures in Austin is http://www.pearljoneshomes.com/austinforeclosurelistings.

Find Austin Foreclosures

Are you looking to find a good site to find Austin Foreclosures? There are so many sites out there but you have to pay for some to get either some kind of confusing list or have to get hold of a realtor to get you the foreclosures. I have created a website for home buyers looking for Foreclosures in Austin. It is a Search site where you enter the parameters: price range, zip code, number of bedrooms, etc. and it only gives you those foreclosures that match your criteria. Easy enough? Ready, Set, Let's Search.

Please, please, please, do contact me if you have any questions regarding a property, or wish to request a showing. Call me at (512)786-SELL/7355.

Help me Stop Foreclosures in Austin!

I am sure you are not surprised to hear that foreclosures are on the rise in Austin, TX. In Texas alone based on the picture above as of May (per www.realtytrac.com), 1 out of 323 homes is in foreclosure in the high foreclosure area (denoted by deep red) and in lower foreclosure area, 1 out of 26,853 homes (denoted by pink). In the US, 30 million people are in default of their mortgage and still increasing. Yikes!

The top ten states with high forecloses are:
1) Florida
2) California
3) Arizona
4) Illinois
5) New Jersey
6) Nevada
7) Texas
8) Georgia
9) New York
10) Colorado.

I don't exactly know when these statistics were reported but this information was obtained from a short sale class I took yesterday called Short Sales Solutions.

We need to stop Foreclosures in Austin NOW! Why? First of all, if a homeowner goes into foreclosure, not only is it devastating emotionally but foreclosure will impact their credit scores up to 7 years. That's 7 years that they can't buy a home in Austin. If every 5th person goes into foreclosure, how many buyers will we lose in this market for 7 years? That's 20% of the buyers pool right there and not only that the other 20% probably doesn't have enough money or is already facing credit challenged. The other 20% is most likely not going to buy because they are already settled into their home, 20% are afraid to buy because of the economy and there goes only 20% who are willing to buy. These numbers are just for illustration purposes but you get the gist.

How can we save foreclosures? If you know of anyone who is upside down and who had already defaulted in their mortgage, have them give me a call. Remember, these people have options before they face foreclosure. I need to speak to them to see if they qualify for SHORT SALE. Most real estate agents won't do short sales because of the tedious paperwork and patience involved. I have the passion to help people and am organized. My sister, a real estate agent in Northern California who is a very experienced short sale agent is my mentor.

Most importantly, the clock is ticking. Once they have received a notice from their lender, they only have a few days to get going before their property is auctioned on the county steps. Act now and call me today for your FREE phone consultation. You have nothing to lose but just 30 minutes of your time. The best advice you can give someone you know who is facing foreclosure is to have them give me a call ASAP.

NOTE: I am a candidate for the Certified Default Resolution Specialist designation. I need to complete short sales transactions as a listing agent in order to earn my designtation. Austin Realtors, if you have a client that may be a short sale candidate, I will pay you a referral fee.