The Brainerd Lakes Real Estate Blog

Helping make real estate dreams come true Explore Lake Property I don't want to give my home away is an oft repeated phrase as I discuss with prospective home sellers the current estimated market potential of their home. They sometimes follow that phrase up with-" well, we will just hold on to it then" or "we will rent it out". Sometimes sellers can lose track of why they wanted to sell in the first place. Waiting for a year isn't necessarily going to solve their problem. I always like to ask them what will change in a year? Do you think that tenants will leave the property in the condition it is presently? What will the cost of repairs be after a year of renting? Will you be subsidizing the rent, as it may not cover your current mortgage payment and other home expenses such as the taxes, insurance and maintenance. Will you be hiring a management company and are you available at all times to handle repairs and renter issues? What will prices an...

How Four Little Words Changed My Career This story by Mo Anderson of Keller Williams, emphasizes that no matter what- you Do The Right Thing and that is what you always do without question. Helping make real estate dreams come true Have you received a Notice of Default on your property? What are your plans? Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact: Kathleen Lordbock REALTOR/Staging & Short Sale Specialist Keller Williams Realty Brainerd Lakes Don't just walk away - there is hope, there is help!

Helping make real estate dreams come true        Fannie Mae has implemented a new policy which will go into effect on  June 1, lenders are responsible for certifying  that the borrower's monthly obligations have not increased from the time of when credit was initially pulled  through the closing date. This is effective for new conventional applications only and is not applicable for VA, FHA or Rural Development loans at this time but traditionally they will soon follow.        The goal is to reduce the number of loans that default because of new, non-disclosed debt. Lenders have the freedom to verify in whatever manner they wish, but in most cases, the verification process will amount to a credit re-pull made just prior to closing. A credit report will be pulled at the beginning of the application and will also be pulled 5 days prior to closing.        What does this mean...

Worse tax bite: short sale or foreclosure? Helping make real estate dreams come true Have you received a Notice of Default on your property? What are your plans? Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact: Kathleen Lordbock REALTOR/Staging & Short Sale Specialist Keller Williams Realty Brainerd Lakes Don't just walk away - there is hope, there is help!

5 Questions to Ask Your Buyer Before Submitting a Short Sale Offer Close Forgot password? Please put in your email: Send me my password! Close message Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Login to OpenID Go back Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Login to OpenID Go back Go back Share on Facebook Connected as ( Logout ) Email (optional) Not displayed publicly. Tweet this comment Connected as ( Logout ) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. OpenID URL Comment as a Guest or login using OpenID Posting as Kathleen Lordbock ( Logout ) Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments Loading IntenseDebate Comments... Leave a Re...

American Government Holds 360,000 REOs Helping make real estate dreams come true Have you received a Notice of Default on your property? What are your plans? Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact: Kathleen Lordbock REALTOR/Staging & Short Sale Specialist Keller Williams Realty Brainerd Lakes Don't just walk away - there is hope, there is help!

Helping make real estate dreams come true Tim Harris- Harris Real Estate University Good News: Fewer Americans are falling behind on their mortgage payments; in fact, the fewest in two years. Mortgages just one payment past due (30 days) fell to their lowest level since just before the recession began. Is it delays in paperwork from the so called “robo-signing” (faulty paperwork) foreclosure servicing scandal? No. It’s actual fundamentals in the economy and the mortgage market. Go figure. Bad News: The biggest issue going forward is not new delinquencies, but the huge pipeline of loans already in the foreclosure process. It stands at 4.63 percent, tying the survey’s record high. This is due to foreclosure paperwork issues that have stalled the process, especially in the key state of Florida, where nearly one quarter of all mortgages are either delinquent or in foreclosure. “With fewer loans exiting the foreclosure process through sales, the foreclosure inventory rate natural...

S&P Says Loan Mods Don’t Work Standard & Poor’s Ratings Services reported in February that loan modifications are not working, saying most of these loans are in arrears within a year of being reset. Its analysis found that 4 out of 5 modified notes that occurred from 2007 to 2010 were in default within two years. Borrowers made, on average 7.8 payments before falling behind again. S&P’s results came from analyzing more than 1 million non-agency residential mortgage-backed securities data provided by CoreLogic. Because of these re-default numbers, the report concluded that loan modifications are really only a short-term solution. S&P actually believes principal reductions have a much better success rate. However, these only account for 3% of loan modifications. The S&P report is just further evidence to document why the government should not step in to “help” with any more ideas or programs. Unpleasant as it is, we must let the system run its course....

I Got You Out of Owing $100,000 — Say Thank You! Helping make real estate dreams come true Have you received a Notice of Default on your property? What are your plans? Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact: Kathleen Lordbock REALTOR/Staging & Short Sale Specialist Keller Williams Realty Brainerd Lakes Don't just walk away - there is hope, there is help!

The Spring Roar! Get Ready! Helping make real estate dreams come true Have you received a Notice of Default on your property? What are your plans? Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact: Kathleen Lordbock REALTOR/Staging & Short Sale Specialist Keller Williams Realty Brainerd Lakes Don't just walk away - there is hope, there is help!

HUD Short Sale Only Allows Certain Fees Helping make real estate dreams come true Have you received a Notice of Default on your property? What are your plans? Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you make a graceful exit? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact: Kathleen Lordbock REALTOR/Staging & Short Sale Specialist Keller Williams Realty Brainerd Lakes Don't just walk away - there is hope, there is help!

Foreclosures Create Big Issues at the County Level Helping make real estate dreams come true Have you received a Notice of Default on your property? What are your plans? Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact: Kathleen Lordbock REALTOR/Staging & Short Sale Specialist Keller Williams Realty Brainerd Lakes Don't just walk away - there is hope, there is help!

Taking Some of the Emotion Out of the Short Sale Decision Helping make real estate dreams come true Have you received a Notice of Default on your property? What are your plans? Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact: Kathleen Lordbock REALTOR/Staging & Short Sale Specialist Keller Williams Realty Brainerd Lakes Don't just walk away - there is hope, there is help!

full log home & acreage This is a very nice full log home with over 5 acres and a pole building. Very private setting and close to the Lake Alexander public access. Call for a showing- 218-831-8001. Helping make real estate dreams come true Have you received a Notice of Default on your property? What are your plans? Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact: Kathleen Lordbock REALTOR/Staging and Short Sale Specialist Keller Williams Realty Brainerd Lakes Don't just walk away - there is hope, there is help!

Helping make real estate dreams come true 1. FHA Loans Are Not Only For Lower-Income Borrowers. FHA loans are available to everyone. In fact, even Bill Gates can get one. There is no maximum income restriction associated with FHA loans. Borrowers do need to substantiate income and assets by submitting proper documentation. This requirement ensures that borrowers are well-vetted and truly able to afford their future homes. 2. FHA Loans Are Not Only For First-Time Buyers. Many people believe FHA loans are available only to first-time homebuyers. This is not the case. Whether borrowers are making their first home purchase or their fifth, they can look to FHA loans as a home financing option. 3. FHA Loans Are Not Just Small Loans; In Fact, Loan Amounts Can Be As High As Almost $800,000. The government recently raised the maximum loan amount from its original cap of $362,790 to $793,750 as a way to help stabilize the housing market. The amount a ...

REALTOR® Magazine-Daily News-No Foreclosures Over the Holidays   No Foreclosures Over the Holidays Fannie Mae and Freddie Mac are freezing all foreclosure evictions on the mortgage loans they own or back from Dec. 20 through Jan. 3. "If the property is occupied, our foreclosure attorneys will suspend the eviction to provide a greater measure of certainty to families during the holidays," says Anthony Renzi, executive vice president of single family portfolio management at Freddie Mac. Most of the large banks, including Bank of America, J.P. Morgan Chase, and Wells Fargo, already observe a moratorium through the New Year, unless the foreclosure involves an investor who chooses not to observe the holiday policy. Source: CNNMoney, Les Christie (12/03/2010) Helping make real estate dreams come true   Have you received a Notice of Default on your property? What are your plans? Do you plan to walk away or do you want to try a Short Sale which has much less ...