If you’ve been struggling to make your payment and have maybe considered getting help with a loan modification or deed-in-lieu of foreclosure, then read this first! There are many companies claiming to help but in the long run they take your money and get you no results. The FTC has passed new rules to protect you, but you need to know what they are! READ HERE
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07Feb
Tags: andy tolbert, deed-in-lieu, florida short sale, foreclosure relief, hd realty, modification, Oneir hd realty, short sale, short sale realtor
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31Jan
A new state program may help you pay your mortgage if you are unemployed or under-employed. The Florida Hardest-Hit Program has $1 Billion to help homeowners pay their mortgage. Yes, there are some rules and guidelines, but if you qualify, you may get assistance.
Here’s the Link: https://www.flhardesthithelp.org/
Let me know if you are able to get help! I Love success stories
Or, if you’re interested in selling your home BEFORE it goes to foreclosure, Contact me right away for a free consultation!
Tags: foreclosure help, seminole county foreclosure, seminole county foreclosure realtor, short sale, short sale realtor
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27Oct
Andy’s Foreclosure Interview Reunites a Family After Years & Years!
Wow, this is a story you probably don’t hear every day. Yesterday I was contacted by email by someone stating she was a relative of someone I had interviewed about losing her Seminole County home to foreclosure. Through some back searching I found the article she was referring to, and it wasn’t me that had interviewed the lady, I just happened to be interviewed in the same article. I never met her relative. In several emails back and forth though, I explained that I had never met her, but did a quick Google search and sent her a link with some local contact info including an email address and place of employment (all public records here… not disclosing any secret info!).
Well, today I just got this email:
Andy
You have just been used by God to help two sisters fine each other and to discover that there are two more sisters My daughter and her sister are so happy right now it is unbelievable. They are both Managers and have two children thanks thanks and more thanks
My The Lord bless your life and family
Pastor NissiIsn’t that unbelievable?
Out of the tragedy of losing her home, a single mom and her 2 kids are now reunited with their family because of the story that was written about her.
And I had the honor of bringing them all back together.
Wow.
That’s all I can say right now. Wow.
Don’t let it get this far… if you or a family member is having a problem paying their mortgage… call me right away! You do have options but the longer you wait the fewer options you’ll have.
Tags: andy tolbert, florida foreclosure blog, hd realty, how to buy a bank repo, how to buy a foreclosure, how to buy an reo, longwood foreclosure, Oneir hd realty, orlando foreclosure realtor, seminole county foreclosure realtor, short sale
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20Oct
Is it safe to buy a foreclosed home?
Right now that is what’s on most of America’s minds… Is it safe to buy a foreclosure home? Several of the large lenders have frozen foreclosure proceedings because of possible mis-steps in the filing of the foreclosure case file. Some people argue that the entire foreclosure might be invalid, even on some homes that have already been resold to a new homeowner!
Last week I was interviewed by the New York Times for an article on this very topic! Writer Ron Lieber asked me what were some of the things that someone thinking of buying a home needs to be aware of when buying a bank owned home. Here’s some things to watch out for:
£ Right now in Central Florida there are about 400 homes that were recently pulled and coded as “temporarily off the market” in our MLS system. I can’t say they were all a part of the freeze, but it’s probably a good guess! If the home you’re interested in was NOT pulled off the market, it’s most likely not one that is affected.
£ There is often a lot of damage to the homes, both from neglect and being vacant for so long and from vandalism and even sabotage. Some people take their anger out on the house and you might be buying the result of their anger. Make sure you hire a good home inspector to check the property out thoroughly before closing.
£ If you are getting a mortgage to buy a home, a bank owned home may have challenges in the condition of the house. If it needs repairs it may not be financeable by a traditional loan and you may need an FHA 203K rehab loan that allows for the repair money to be included.
£ The seller, in this case the bank, has the right to dictate the terms under which they will sell you their house. The banks are taking this to the extreme and will put numerous restrictions on you such as:
o You can’t resell or refinance YOUR house within a certain time frame
o They won’t pay certain closing costs that a seller normally pays. This means you will pay more to buy the house
o If you don’t close on time they will charge you $50-100/day for an extension
o If you don’t close they can keep your deposit (which by the way THEIR attorney will be holding)
o They won’t even give you a written contract… you will need to start your inspections and other costs based on a verbal acceptance… the written will follow in a week or two.
o With your written acceptance, they will send you the “bank addendum” which changes all of the terms of the original offer. These can be a few pages to over 20 pages long. You must review this very carefully before signing. Once you’ve signed it you’ve accepted it.
£ Often the properties are priced very low to drive competition and after you put in an offer you’ll be told that there are “multiple offers” and they are asking you to come back with your “highest and best” offer. Often these properties will sell at or above the asking price, sometimes even 20-30% OVER asking price!
£ Make sure you buy title insurance to cover any possible mistakes in the title.
I don’t want these things to scare you from buying a foreclosed home. Many of my clients AND myself have bought foreclosed homes and have had no problems with them. It is intended to just make you aware of some of the things to watch out for before buying a bank owned home.
As you can see it is very important to have a Realtor® working for you that knows the ins and outs of buying a foreclosure home. Ask them how many buyers they’ve worked with and how many years they’ve been buying foreclosures.
If you’re in the Central Florida area, I’d love to answer any questions you have about buying a bank owned home, either as a home to live in or as an investment property. Call me at 407-260-8800 ext. 107 right now!
Tags: andy tolbert, florida foreclosure blog, hd realty, how to buy a bank repo, how to buy a foreclosure, how to buy an reo, longwood foreclosure, Oneir hd realty, orlando foreclosure realtor, seminole county foreclosure realtor, short sale
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13Sep
Today there are 752 Bank Owned and Short Sale Houses in Seminole County between 100-300,000
And 37 of them are WATERFRONT!!!There are some amazing deals and interest rates are still VERY low, so it is a great time to buy a home for LESS than you’re currently paying in rent!
Buying a property that is bank owned or pre-foreclosure presents challenges because often they are not maintained well and need repairs. Let my years of experience help YOU get into a GREAT home at a GREAT price!
Click HERE to glance at the 752 available homes
Click HERE to see the 37 waterfront foreclosuresCall me right now if you’d like to get pre-qualified and see how affordable a home can be! 407-260-8800 ext. 107
Tags: altamonte realtor, altamonte short sale, Altamonte springs foreclosure for sale, Casselberry foreclosure for sale, casselberry realtor, casselberry short sale, fha loan in seminole county, hd realty, lake mary foreclosure for sale, lake mary realtor, Lake Mary short sale, longwood foreclosure for sale, longwood realtor, longwood short sale, Oneir hd realty, sanford foreclosure for sale, sanford realtor, sanford short sale, Seminole county bank owned, seminole county foreclosure, seminole county foreclosure realtor, Seminole county real estate, Seminole county realty, short sale realtor florida, short sale realtor Orlando, winter park foreclosure for sale, winter park realtor, winter park short sale, winter springs foreclosure for sale, winter springs realtor, Winter Springs short sale
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09Aug
If you are considering buying a home in Seminole County or ANYWHERE in Florida… it might cost you a higher monthly payment after September 7th. This is due to a change in the way that FHA is going to collect mortgage insurance. Your payment will be anywhere from $10-$50 higher if your “case number” is assigned after 9/7. This means you have to have your home under contract AND your loan process started at LEAST a few days before the 7th to get in under the current cheaper guidelines.
If you’re ready to find a home call me today at 407-260-8800 to schedule a private consultation either in person or by phone. I will set you up in my special software to send you properties that exactly meet your specifications… no charge!
Watch THIS VIDEO for more info on this new regulation.
Tags: altamonte realtor, buy a home in seminole county, buy a longwood home, casselberry realtor, fha loan in seminole county, lake mary realtor, longwood realtor, sanford realtor, seminole county foreclosure realtor
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03Aug
Today Fannie Mae launched a new consumer education website on foreclosure options.
The way I found out about it was when I received a call from the Orlando CBS affiliate, Channel 6 News asking if they could interview me about the new site… www.KnowYourOptions.com
So while he was asking me questions about the ramifications of a foreclosure on your life (credit, jugdments, etc.) I pulled the site up quickly to take a peek! It’s actually a pretty good site!
A lot of the information they are sharing is similar to the info I put on MY info site, www.BeforeYouShortSale.com which is for Orlando Short Sale Homeowners info.
They cover the options for when you want to keep your home, including something they call “Deed-for-Lease” which is where you deed your home to the lender (called a deed-in-lieu of foreclosure or dil) and then they will rent it back to you for a specific period of time for current market rent value. The other options when you want to stay in your home are: refinance, repayment plan, forebearance, and modification and on the site they explain what each of these are and the benefits. But remember… if you want to stay in the home you will need to be able to qualify for the payment, so if you are without income you will most likely not qualify to keep your home.
They also cover the options for when you can’t or don’t want to keep your home. These include Deed-in-Lieu and Short Sale and cover the what’s, how’s, and benefits of these options for your family.
Within an hour of my “phone interview”, the reporter from Channel 6 was here in my office with his camera guy to do an interview and find out more about what options a homeowner has in Orlando if they are facing a challenge with their mortgage or facing short sale or pre-foreclosure. The spot will run tonight on Channel 6 between 6-7pm and I’m figuring will be re-run on their website www.clickorlando.com
If you are a homeowner facing trouble with your mortgage, check out the site: www.KnowYourOptions.com it has some really good information that might make your decision easier. And if you are in Seminole County or the Orlando area… give me a call!
UPDATE: Here’s the link to read the article and watch the video replay, CLICK HERE
Tags: channel 6 news, fannie mae foreclosure, foreclosure expert, foreclosure realtor, louis bolden, seminole county foreclosure, seminole county foreclosure realtor, short sale orlando, short sale realtor, short sale realty
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23Jul
In the first quarter of 2010 (January - March) there was a total of 1,210 sales in Seminole County Florida. Of these,
23% were Short Sales (a short sale is when the seller owes more to the bank than what it’s worth and the bank lets them sell it anyway)
37% were REO which stands for Real Estate Owned (means the bank has already taken the home as a foreclosure and is now trying to sell it)
39% were “Regular” Sales, meaning neither a Short Sale or an REO
If you are thinking of buying or selling a home that potentially is a Short Sale or an REO, make sure your Realtor is experienced in these tricky transactions.
If you need more info on the possibility of selling YOUR home as a short sale, please visit http://www.BeforeYouShortSale.com
Tags: altamonte short sale, altamonte springs short sale, apopka short sale, casselberry short sale, cdpe, certified distressed property expert, florida short sale, forest city short sale, heathrow short sale, lake forest short sale, Lake Mary short sale, longwood short sale, maitland short sale, orlando short sale, oviedo short sale, sanford short sale, seminole county foreclosure, seminole county foreclosure realtor, sfr, short sale agent, short sale and foreclosure resource, short sale expert, short sale house, short sale interview, short sale negotiator, short sale real estate, short sale realtor, short sale realty, short sale seminole county, short sale specialist, short sale statistics, should i short sale?, Winter Springs short sale
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06May
I like to report what’s going on in the Seminole County foreclosure market (which includes short sales and bank owned). Whether you’re considering selling your home or you’re looking to buy a home (first homes AND investment properties) The knowledge our office has of the Seminole County market can help you meet YOUR goals!!!
In the first quarter of 2010, there have been 1,210 sales, of those, 282 were short sales (23%), 445 were bank owned (37%), and 483 were “regular” sales (39%). Also, median home prices are broken down the same way: Median Home price in Orlando Area was $110,000, short sales were $115,000, bank owned was $74,000 and “regular” was $166,500.
Ready to see for yourself? Here’s the link to see the 729 homes: Click Here
Tags: andy tolbert, apopka short sale, casselberry foreclosure, casselberry short sale, cdpe, certified short sale, lake mary pool home, Lake Mary short sale, longwood house for sale, longwood pool home, longwood pre-foreclosure, longwood short sale, sanford foreclosure for sale, short sale realtor, short sale specialist, winter springs pre-foreclosure
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06May
What’s Homeownership REALLY Worth in Central Florida
Homeowners have seen a decline in their homes value in the last few years. That’s a fact. If you bought your home in 2004-2008, it’s probably worth less than you paid. However how is homeownership in the LONG RUN?
The National Association of Realtors has just released statistics that go back and show you how your net worth has been impacted by home prices if you had bought your house 5, 10, 15, and 20 years ago. It’s kind of interesting! Here’s the links:
Link to see other area reports
If you’re in the market to purchase a home, whether it’s your first home or you’re adding an investment property… call me for a no-obligation appointment to see if we can work together! 407-260-8800
Tags: andy tolbert, apopka short sale, casselberry foreclosure, casselberry short sale, cdpe, certified short sale, lake mary pool home, Lake Mary short sale, longwood house for sale, longwood pool home, longwood pre-foreclosure, longwood short sale, sanford foreclosure for sale, short sale realtor, short sale specialist, winter springs pre-foreclosure
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