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Lori Lincoln — Sat, 24 Nov 2007 01:46:00 GMT

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Lori Lincoln — Sat, 24 Nov 2007 01:41:00 GMT

Facing Foreclosure- Don't let this event make you feel less than!

Lori Lincoln — Thu, 20 Sep 2007 12:03:00 GMT

I speak to at least one homeowner in pre-foreclosure at least once a week and I am compelled to write on this topic. I see people who just give up. It is really sad.

I also hear people pass judgement on those in this situation, when they don't even know the circumstances!

If you are currently facing foreclosure, I am here to tell you to not be ashamed or embarrassed or intimidated. Don't let this event dictate who you are as a person. You may have been victimized by predatory lending, you may be in a divorce situation or your financial situation may have changed. In life, bad things happen to good people. Hold you head high and land on both feet no matter what!

Don't listen to the shoulda, woulda, coulda. The past is the past. Deal with the present as best you can and stay positive. It all will work out the way it was meant to be worked out.

The first thing you need to do is open your bills!

Communicate with the lender. Do not be intimidated.

Consult an attorney immediately.

Don't wait until 11th hour.

My best advice to you is to try not to let this affect your mental health to the point of becoming mentally paralyzed. Seek professional counseling if necessary, but I repeat, do not let the stress of foreclosure paralyze you to the point of depression. It's not worth the worry.

Do everything you can to prevent the foreclosure, but if it is inevetible, move on and start anew. A fresh start isn't so bad. Life is not always easy. Nobody said it was. Be thankful for the important things..have... your family, your health, your faith.. whatever it is be thankful.

The worst thing that happens is the house gets foreclosed on and you move on. Yes, move on, and start anew.No this isn't easy, but years from now it won't even matter. You will look back and say " How did I ever get through that!.

If you need to talk to somebody and you aren't working with another agent, please call me. I will listen and offer possible solutions. No strings attached.

Sincerely,

Lori Lincoln

Keller Williams Realty

http://LoriLincolnTeam.com 508-878-0917

For A1 service and confidential consultation in Berkley MA, Taunton MA, Assonet MA and all of Bristol County..

What you must know about buying bank owned property- FREE Report

Lori Lincoln — Thu, 20 Sep 2007 11:50:00 GMT

To buyers the thought of buying a bank-owned property can be tantalizing, like winning the lottery. There is so much about these transactions that you need to and must know. There are some awesome deals to be had out there, but know what you are doing and seek professional guidance.

Though not in all cases the first thing the bank will do is hold a public auction. They will either sell the property to or buy it themselves.

Sometimes there are second and third liens on the bank owned properties. You will need to know which bank is selling the property. You should consult an attorney to perform an title search and be sure that the property is free and clear of any other liens, otherwise the process of buying could be held up for several months.

If the bank doesn't sell at auction, they will sometimes obtain an appraisal and then will either hire a firm that places the listing with a Realtor or deal direct with a Realtor.

I've noticed that many times the bank will list the property for what the last owner owed, so it could be overpriced. Be sure you have a good buyer agent that can show you comparables.

Many times the condition of these properties require much repair. Heating systems froze, water damage, holes in walls, could add up to several thousand dollars. You need to calculate carefully whether or not the property is worth the money you need to make it liveable, and to make sure the repairs are in your budget.
Your lender also may not grant the loan based on property condition.

When you finally find that great deal on a bank owned property, and decide to submit an offer, you need to know what you're up against. Most banks require a detailed pre-approval as well as $1000 with all offers. They can also insist that you obtain a pre-approval from their loan department. The bank also insists that you sign a multi-page addendum which is a very lengthy "As Is" document.

Some banks take up to 30 days to respond to offers. Some banks don't respond at all.

Buying bank owned can be a complex undertaking, but also could be very rewarding for you financially. You should always have a buyers agent if buying bank-owned is your goal. The listing agent represents the bank. You should have someone represent you.

I know that I didn't cover everything. If you have questions, just call me or email me at lorilincoln@kw.com

feel free to contact me

Thank you for viewing my blog

Lori Lincoln

P.S You can also visit my website for some valuable Buyer and Seller Reports. I also have lists of bank-owned properties in your area

http://www.LoriLincolnTeam.com

Serving the needs of Home Buyers and Sellers in The Greater Taunton Area, Fall River, Swansea, Somerset, Dighton, Rehoboth, Seekonk, Raynham, Berkely, Assonet, Middleboro, Lakeville, Freetown MA