I specialize in helping home owners from avoiding the bank from foreclosing. So what are some of the tips I offer to them? First be in contact with your lender; ask them to assist you in a loan re-modification. This is when the lender will change the terms of your original loan making the payment more manageable for you. If the bank declines your request you’re left behind with 2 options; hire a realtor to help you sell your home as a “short sale”, meaning the bank will accept less than what is owed and your second option would be to give the home back to the bank. You can allow them to foreclose where your credit will be significantly affected in a negative way or give the bank back your deed which is call a deed in lieu. The bank would much rather you do a short sale where each bank owned property the bank takes back on average costs the bank over $25,000 per each home.
So here are your 3 options. My biggest advice that I can offer to anyone is to face the facts head on, accept what’s going on and deal with it. So many home owners say to me the bank never mailed me or called me; mainly because they ignored everything that came in the mail and never accepted a phone call.
My advice to this would be hit this head on; the more open you are with the bank the more options you will have. Be proactive as opposed to reacting to every letter or every call. You will make it through this hard time and remember hard times will always pass. If I can be of any help please feel free to reach out to me.
Weymouth Real Estate | Is the “Online Value” of My Home Accurate?
This question is often asked of me from homeowners who live in Weymouth; more often they may have been searching the web on either Zillow or Trulia. So how is it that these sites can help determine the value of your home and how accurate are they? Well these sites pull their data from like homes that have sold in your area that have recently sold. What they don’t acknowledge is the condition and any upgrades to your home or any sold near you.
I have found more often than not these websites are not accurate with their values. So how do I acquire an accurate value on my home? You can either hire an independent licensed appraiser who will find 3 like homes that have recently sold that offer the same style, number of rooms, bedrooms, baths, living square footage, along with lot size. This cost is usually around $300.00. You can also ask a licensed realtor in your area to do the same. I would recommend having 2 real estate agents visit your home and be sure they supply addresses to confirm their value. A real estate agent should not charge you for this service and will more often than not use the same homes a licensed appraiser will use; they’re pulling data from the same source.
So online values on your home are helpful but not always accurate. If you need a value on your home please feel free to communicate with me or if I can answer any questions please feel free to respond.
Are there any questions you wish I answered for you? If so, just ask. Contact me directly at firstname.lastname@example.org or (781) 985-9064.
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