A Little off the Subject: My new Puppy

Instead of my normal post about Real Estate I'd like to write a little about my new passion, my new Goldendoodle Puppy Bailey.  She is a cross between a golden retriever and a standard poodle.  This mix gives you a dog with the lovable and faithful personality of a golden retriever and the intelligence and agility of the poodle.  On top of those traits you also get a dog with a low allergy possabiltiy and a no to low shed coat.  Goldendoodles were originally bred as a therapy dog,  a golden retriever is the top choice for this job but many of the patients who benefit from a dog visit are subject to allergies, therfore the cross was born.  I know that most dog breeders refer to the goldendoodle as a mutt but she is the most adorable mutt I've come across and she makes me happy.  Bailey and I are looking forward to the future when she is old enough to help me show houses.  If you have any questions about goldendoodles feel free to ask if I don't know I can find the answer.  And, as always if you know anyone thinking about buying or selling a home in North Jersey please let me know!

North Jersey Short Sales (Part 2)

Once you have decided to try to short sell your home call your lender and see if they have a pre-sale approval process.  Not all lenders do this but you can ask.  Most lenders will give you a short-sale information package to fill out.  This will include a hardship letter where you explain why you can no longer pay you mortgage, copies of the past 2 years income tax returns, a list of all outstanding debt, a list of all recurring payments you must make (utilities, water, groceries) pay stubs and other financial paperwork.  This package must be completely filled out and returned to the bank before you can accept an offer.  You can list your house with a realtor.  A short sale must be listed with a licensed real estate agent who has no relationship to the seller, all short sale transactions must be arm's length, which means that the seller, the agent and the buyer can have no relationship. 

North Jersey Short Sales (part 1)

If you are one of the many homeowners in North Jersey who is finding themselves underwater in their home you need help. Your first step should be to contact your lender and request a loan modification. If you really can't make your full mortgage payment every month and the recommended sales price of your home is less then you owe on it your bank may approve a reduction in your monthly payment. This is often the only help a distressed homeowner needs to move forward and continure living in their home.

If you are not approved for a modification and you can't make your mortgage payments you are risking foreclosure. In a foreclosure the mortgage holder takes the house back and you are forced to move. A possible alternative to foreclosure is short selling your home. In a short sale you maintain some control of the sale and the timing of your move.

If a short sale is the road you decide to travel keep in mind you will need a Real Estate Agent who is specially trained in short sales and a Real Estate Attorney who is experienced in the short-sale process.

I hold the SSFR designation which is the Short Sale and Forecloser Expert designation earned through the Board of Realtors. A short sale is anything but short and does have credit ramifications but in a desperate situation it is a viable alternative to foreclosure.