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Chase “List Assist” program offering up to 35k to perform a short sale

May 17, 2012 By Leave a Comment
Chase Logo

 Just to follow up to our story about Bank of America offering up to 30k in short sale relocation assistance, Chase Bank is also rolling out a program called Chase "List Assist".  Rich Ayers and The Ayers Team have been selected to be a "Priority Partner" with Chase in offering short sale and REO (bank foreclosures) assistance. We will be featured on their marketing campaigns and letters and look forward to working with them to speed up their short sales and distressed property business. As part of the Priority Partner program, we have … [Read more...]

Filed Under: Foreclosures, Real Estate Blog, Short Sales

Bank of America $30,000 short sale relocation assistance – following in Chase’s footsteps

May 17, 2012 By 1 Comment
BofA Short Sale

 Many of us Realtor's who specialize in Short Sales received this email from Bank of America on May 15, 2012.    BofA is following in the footsteps of Chase in offering Cash Incentives to sellers to perform a short sale instead of let the house slip into foreclosure. With the HARP/HAMP programs and the Mortgage Forgiveness Debt Relief Act officially ending on Dec 31, 2012 (no plans as of today to extend it), BofA and Chase are steamrolling forward to get these distressed properties off of the books. We have been processing Chase loans … [Read more...]

Filed Under: Real Estate Blog, Short Sales

Short Sale Approval Letters

May 11, 2012 By 2 Comments
Short Sale Approval

If you are looking for a experienced Short Sale Realtor in Naperville, Plainfield, Oswego or any suburb of Chicago, you have come to the right place!  If you are in the position where you have to perform a Short Sale, we hope to earn your business and will work hard to exceed your expectations! Our Number 1 Goal is to get your Short Sale APPROVED!!  We will keep you informed every step of the way so you know the progress that is being made.  We will walk you through the Short Sale process and help you through this tough time. Short Sales … [Read more...]

Filed Under: Real Estate Blog, Short Sales

Speed Up Short Sales, FHFA Directs Servicers

April 23, 2012 By Leave a Comment
FHFA Logo

The Federal Housing Finance Agency announced a new policy to speed up the process that mortgage servicers use to handle short sales, deeds-in-lieu, and deeds-for-lease for mortgages that are backed by Fannie Mae and Freddie Mac.   BofA announced that they are speeding up short sales as posted here.  Chase, Wells Fargo and others are following suit as well. The FHFA, the regulator of Fannie and Freddie, says the new policy includes a revised timeline that will require mortgage servicers to respond to a request for a short sale offer within … [Read more...]

Filed Under: Foreclosures, Real Estate Blog, Short Sales

BofA Announces Shortened Short Sale Process – April 14, 2012

April 11, 2012 By 3 Comments
BofA Short Sale

As part of my CDPE and SFR Designations, I am invited to various Industry calls regarding short sales and foreclosures and the ever-changing processes that the major banks follow. Bank of America announced today it is refining its short sale process to streamline its approval process and reduce the wait in accepting offers and making it to closing. The changes are expected to trim the bank’s decision time in half -- from 45 days or longer to 20 days.  Starting April 14, the bank says it will permit its short sale specialists, using a … [Read more...]

Filed Under: Foreclosures, Real Estate Blog, Short Sales

Two Important Short Sale related Federal Acts/Programs Ending 12/31/2012

March 19, 2012 By 1 Comment
HARP Update Image

 1) The Mortgage Forgiveness Debt Relief Act of 2007. This Act removed the taxability of "Debts discharged through Bankruptcy" and "Debts forgiven by your lender". That means you DO NOT pay taxes on the "Phanton Income" due to a Short Sale, etc. This is HUGE considering the staggering numbers of these transactions. 2) The "Making Home Affordable" Program. This is Obama's program to help speed Short Sales through a lender, incent lenders to help you refinance, and other foreclosure avoidance measures.I am hoping these get extended past 2012. … [Read more...]

Filed Under: Real Estate Blog, Short Sales

Short Sales Get Shorter: New Deadlines to go into Effect

March 15, 2012 By Leave a Comment
Short Sale Approvals

  As part of a settlement with state attorneys general, the five largest mortgage servicers are adopting new requirements for short sales, which is expected to speed-up what has been known as a lengthy process.  We are seeing a short sale process ourselves, so we hope this holds true!   Here are some of the new requirements for servicers under the settlement:  Servicers must provide borrowers with a decision within 30 days after receiving a short sale package request.  Servicers will be required to notify a borrower, also within 30 … [Read more...]

Filed Under: Real Estate Blog, Short Sales

I love Google Analytics!

March 9, 2012 By Leave a Comment
google-analytics-logo

I love Google Analytics...just trying to see what folks are using www.AyersTeam.com to search for...Here are the top search queries for the last couple weeks. It is always interesting to see what people are typing: subdivision names, individual addresses...If you live in Churchill Club in Oswego, I think you better market your home with me according to below! That is where people are looking for Churchill Club homes!   Keyword Visits(not provided) 215churchill club oswego il 55ayers team 25ayersteam.com 1424348 leski lane plainfield il … [Read more...]

Filed Under: Buying Property, Homes For Sale, Real Estate Blog, Short Sales

US Set to Unveil New Relief Plan for Homeowners

October 21, 2011 By Leave a Comment
HARP Update Image

By Reuters as reported on CNBC.com: U.S. homeowners who owe more than their houses are worth will get new help to refinance in a government plan to be unveiled as early as Monday to support the battered housing sector, sources familiar with the effort said.   The Obama administration has been working with the regulator for Fannie Mae and Freddie Mac to find ways to make it easier for borrowers to switch to cheaper loans even if they have little to no equity in their homes. The regulator, the Federal Housing Finance Agency, … [Read more...]

Filed Under: Foreclosures, Real Estate Blog, Short Sales

Senate Bill 3334 (SB3334) – Foreclosures and Short Sales will now be reflected in Property Tax Assessments

September 21, 2011 By 3 Comments
Property Tax

Note:  Here is a re-hash of a post I did about a year ago...something to keep in mind!! Here is the link to the actual Senate Bill 3334. FINALLY!! Senate Bill 3334 (SB3334) is effective 7/16/2010. It amends the Illinois Property Tax Code to require that foreclosures and short sales be taken into account in reviewing and correcting property tax assessments.  That is HUGE news for homeowners!  I would suggest that everyone in Naperville, Plainfeld, Oswego or any Chicago suburbs dispute your property tax assessments now that we can include … [Read more...]

Filed Under: New Investor, Real Estate Blog, Short Sales

Naperville, Plainfield and Oswego Rental Homes are BOOMING!

May 29, 2011 By Leave a Comment
For Rent sign

 My phone is ringing off the hook.  I am getting 30 emails a day.  I have people filling out Contact Forms on my site and from Realtor dot com all the time.  The Rental Market is RED HOT!!  My Property Management business is booming and we are adding about 3 clients per month.  Whenever we list a house for rent, whether it is in Naperville, Plainfield, Oswego or any other Chicago suburb, we usually have it filled in about 7-10 days on average.  We are getting multiple applications per home and people are fighting over rental … [Read more...]

Filed Under: Foreclosures, Homes For Rent, New Investor, Real Estate Blog, Selling Property, Short Sales

Illinois sees increase in foreclosure filings in 2011

May 29, 2011 By 1 Comment
foreclosure-next-exit-sign

 Well, I hate to be right when it comes to increasing foreclosure filings, but I am :-).  I wrote a blog post about 2 mos ago (okay, not THAT long ago), but it was a story about the DECREASE in foreclosure filings.  The media (and yes even the National Assoc of Realtors) is out there trying to make it sound like things are improving. Don't believe it.  Any decrease is still only temporary.  I work with real estate investors and other buyers on a DAILY basis.  There is BARELY a downward trend on foreclosure filings and it is not … [Read more...]

Filed Under: Foreclosures, Homes For Rent, Homes For Sale, New Investor, Real Estate Blog, Selling Property, Short Sales

Ayers Team adopts Dropbox.com for 24/7 filesharing and cloud storage

May 29, 2011 By 1 Comment
Dropbox_logo

 Well, we started with Docusign e-signature software but didn't stop there!  Once we implemented e-signatures for all of our transactions we searched out the best way to share files securely and with the least amount of cost.  Look no further than Dropbox.com! So, why did we move to Dropbox?  For us, it allows us access to our business files from any web browser,  iPad, Galaxy Tab, iPhone, Android phone, etc.  No matter where I work, I have all my files handy.  It also works for our real estate investors, home sellers, landlords, … [Read more...]

Filed Under: Buying Property, Foreclosures, Homes For Rent, Homes For Sale, New Investor, Real Estate Blog, Selling Property, Short Sales

When can I buy a new house after a short sale or foreclosure?

March 28, 2011 By Leave a Comment
We Buy Short Sales

We often get asked, "How long does it take to qualify to purchase another home after we have had a short sale or foreclosure?" There are a few different answers depending on what exactly happened with your sale, but we have compiled some guidelines below Don't let your home slip into foreclosure, we can help you sell it at no fee to you! Here are the general guidelines that FHA, Fannie Mae and Freddie Mac follow when considering a loan after a short sale or foreclosure: Short sale with FHA Loan Can purchase right away with no … [Read more...]

Filed Under: Foreclosures, Real Estate Blog, Short Sales

Download Free Illinois Short Sale and Foreclosure Brochures

March 15, 2011 By 1 Comment
On the Edge of Losing your Home-Image

When you or someone you know is pushed to the edge of foreclosure, it is vital to know that you have options.  I have counseled many homeowners in Naperville, Plainfield, Oswego and the surrounding Chicago suburbs and have helped them avoid foreclosure It is my duty as a licensed Realtor to reach out to distressed homeowners. As an SFR and CDPE-designated Broker, I have received extensive training to help homeowners avoid foreclosure. I created this site to provide a lifeline of information regarding alternatives. From short sales to loan … [Read more...]

Filed Under: Real Estate Blog, Short Sales
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