Is a short sale for you?
With today’s tight economic conditions mortgage payments are stressing many families to the brink of either foreclosure or bankruptcy. There are other options available to you as a consumer out there.
Loan modification is actually a good option if you are planning on staying in your home. This is where the Mortgage Company will work with you in making changes to your current loan. Another choice is to do what is called a Short Sale.
A short sale is when your lender agrees to let you sell the home for less than what is owed on it so you don’t have to face foreclosure. There are consequences when doing this as well.
You will get many different opinions on how to handle a short sale. The best way is to contact a professional that has dealt in short sales. I also recommend you get legal advice as to your rights, and maybe consult your accountant as to the tax ramifications.
In the upcoming weeks I will be doing a variety of articles on what to do when working with your lender on a short sale.
The first and foremost thing is to talk with your lender and get a direct contact person or supervisor that will handle your case. If you feel that you are not qualified to do this, contact me. I will ask you to put a letter together to authorize us to speak to your lender on your behalf and get the process going.
This process can be very time consuming and patience will be a key factor!
New Year Ahead!
Now that the Christmas Holiday is behind us we are wrapping up the loose ends and getting ready for the New Year ahead.
What a great time to sit back and reflect on the goals you made in 2010 and what you plan to do in 2011.
Dont set your expectations too high. Set short-term goals that are easier to reach and then the long-term list, it makes them more attainable and will put less stress on you.
There are so many things we all want to accomplish in the year ahead and also put the things behind us from the prior year.
We are all looking to prosper more physically,mentally, financially and spiritually.
If you write those goals down so that you look at them daily or weekly it reminds you what you will need to do to get there.
Remember that all goals are obtainable! ONE STEP AT A TIME.
Mike Ferrie
PrimeSouth Properties
Fezzler, Russel & Ferrie, Inc.
Happy Holidays!
Here we are into all the last minute of the hustle and bustle to finish any shopping needs for family gatherings.
Dont forget to stop and breath in between all the excitement. Take time to cherish those special moments with family and friends. This is also another time of year to reflect on all of our loved ones both living and that have passed.
Life is a journey and some times there are major hurdles for all of us.
Persistence and determination is the name of the game and remember THERE ARE THINGS THAT WE HAVE NO CONTROL OVER!
Happy Holidays to All and a very Prosperouse New Year!!!
Mike Ferrie
PrimeSouth Properties
Fezler, Russell, & Ferrie, Inc.
This coming weekend kicks off the Holiday season with The City of Lights.
Saturday evening will be filled with thousands of people, food, fun and the Jingle Bell Run as well as the annual Holiday Parade all in downtown Tallahassee. There is so much to do at this time of year.
We as a group of about 30 plus people have been celebrating it annually for over 10 plus years.
Everyone meets downtown late in the afternoon checks into their hotel rooms and then meet at a central location on Saturday late afternoon and kick off the festivities. This is also a great way to support our downtown businesses.
Everyone is elated with the Holiday spirit. Children and families every were enjoying the beginning of the Holiday season.
The City of Tallahassee does an excellent job in organizing this event. There is so much to do, from watching various forms of entertainment, i.e. dancing, singing and artist showing off their wares. There are stages set up in different locations so all can enjoy. Not to mention the decorations galore and the variety of food.
This is a great event for all ages young and old to get out and get into the Holiday spirit and spend the time with friends and family.
So if you are not doing anything this Saturday December 4th get downtown early to find a place to park before they start blocking streets off for the Jingle Bell Run and the Holiday parade and enjoy the festivities
Here we are with Thanksgiving this Thursday.
Everyone will be hustling and bustling to get all prepared to kick off the Holiday season.
The crisp air also adds a bit of Holiday cheer as well and the changing of the trees and landscape gets us all in the spirit.
This is the time of year to be thankful for what you have. There are so many of us that are truly blessed with family and great friends. Cherish those moments because one does not know when it will be over.
This also is the time of year to help others who are less fortunate. Help someone out who is in need. Maybe its time to go thru your home and donate those unwanted Items that another family could use. It is also a great time to donate some time or money to those organizations that are in need of help. Tallahassee has many charities to help those whom are less fortunate than others. Take that step and just do something whether it is money, food, and clothing or go and donate your time to help one of the local organizations.
For a list of Organizations you can contact the local Chamber of Commerce or Contact the United Way.
Contemplating doing a short sale or possible foreclosure?
With today’s challenging economy 30% of most homeowners are struggling with their mortgages. Job loss, declining values and just the overall economy in poor shape has forced many homeowners to make drastic decisions or face losing their homes.
Major stress and frustration sets in. What do I do? I can’t cover my monthly payment; my house is worth less than what I owe on it; how can I get out of this financial dilemma?
This is where you need some advice and expertise in assisting you on the best way to solve the situation.
I have been in the industry for over 15 years and have taken courses on short sales and have also closed many transactions over the years.
Contact me for a confidential consultation at no charge to see what is the best way to handle your dilemma. Mike Ferrie, REALTOR®, 850-566-8373.
