Law Avania is pleased to announce a new process we have instituted to assist Listing Agents and their clients in navigating the Short-Sale process.
Many of you no doubt had to deal with the extra hard work and frustration that comes with Short-Sale listings. Many of you are also discovering that in addition to the extra work, delay and frustration, there is potential liability for you, as the agent, that you may not be aware of.
* Deficiency Judgment filed against your client that was not disclosed
* Tax Liability resulting from the debt forgiveness that was not disclosed
* Client unable to secure financing on another home for three or more years following the short-sale based on the trade language used on their credit report
* Attempting to negotiate the above items with your clients lender, which could be construed as the unauthorized practice of law
Law Avania will-
* Perform a preliminary title search to determine what liens affect the property
* Gather and submit the documents required by the lender to approve the sale
* Prepare a preliminary HUD 1 Settlement Statement
* Request a pre-approval from the sellers lender in order to shorten the process, and complete the sale faster
* Negotiate the terms of the Short-Sale
By allowing Law Avania to provide this service for your seller, you are able to focus on SELLING PROPERTY!!!
PLEASE CONTACT US FOR FURTHER DETAILS!! 1-877-LAW-AVAN
Wednesday, January 20, 2010
Monday, January 18, 2010
Moving beyond STATISTICS to a SOLUTION
A recent article in the Charlotte Observer reported that there were 3,045 final foreclosures in Mecklenburg County in 2009. That same article went on to report that foreclosure filings in the county were up 52% over the previous year*, which means that number will most assuredly increase this year.
These figures are not surprising to most of us in the real estate profession. We have seen the drop in home values due to these sales and have watched home after home become empty and unoccupied as REO inventories rise. This, along with tightening credit markets, has helped to create a slow down in the housing market, one that we have all experienced.
While we have been affected from this slowdown, we may have not have ever been witness to the devastating effect these foreclosures have on a family that has been forced to leave their home. Many of these families end up living with friends, family, or far too often, a homeless shelter.
Right now in Charlotte, it is estimated that nearly 8,000 individuals are homeless, with nearly 3,000 of those being children. These are more than just numbers; these figures represent neighbors, co-workers, class mates, fellow Charlotteans, each with a name, each with a face, each with dreams and aspirations.
For 2010, Law Avania has committed to donating a portion of its attorney fees for all residential purchase transactions to help eliminate homelessness in Charlotte. These donations will be provided to the W.I.S.H. Program (http://www.wishprogram.org/), which operates under the care of Crisis Assistance Ministry. The WISH program is designed to rapidly re-house homeless families into vacant units, which in turn reduces the trauma that engulfs them during this traumatic ordeal, while at the same time, creating a holistic social network and planning that helps ensure financial stability for the that family for the future.
Many of you in the real estate profession are also involved in combating this issue, either through financial contributions, or by volunteering your time to one of the may wonderful organizations in existence that are committed to ending homelessness.
As real estate professionals, we have a unique opportunity to both help our friends and neighbors, who have been rendered homeless, and to assist in strengthening and stabilizing our own industry. By involving ourselves in activities and organizations that are helping families, not only are these families benefited, but our industry as a whole is strengthened as these families progress back to becoming homeowners.
Law Avania's marketing approach is to invite real estate professionals and their clients to "EXPERIENCE THE DIFFERENCE" we offer in a real estate closing transaction. We want to extend and broaden that invitation and invite all members of the real estate profession to get involved and "EXPERIENCE THE DIFFERENCE" that will be made when we join together as a profession. It takes a home to end homelessness, and that is what we all are in the business of providing.
For those interested in finding out more about ways to get involved with the other projects that Law Avania is involved in including THE FREE STORE, or in sharing your ideas or experiences, please contact us at our TOLL FREE HOTLINE at 877-LAW-AVAN.
These figures are not surprising to most of us in the real estate profession. We have seen the drop in home values due to these sales and have watched home after home become empty and unoccupied as REO inventories rise. This, along with tightening credit markets, has helped to create a slow down in the housing market, one that we have all experienced.
While we have been affected from this slowdown, we may have not have ever been witness to the devastating effect these foreclosures have on a family that has been forced to leave their home. Many of these families end up living with friends, family, or far too often, a homeless shelter.
Right now in Charlotte, it is estimated that nearly 8,000 individuals are homeless, with nearly 3,000 of those being children. These are more than just numbers; these figures represent neighbors, co-workers, class mates, fellow Charlotteans, each with a name, each with a face, each with dreams and aspirations.
For 2010, Law Avania has committed to donating a portion of its attorney fees for all residential purchase transactions to help eliminate homelessness in Charlotte. These donations will be provided to the W.I.S.H. Program (http://www.wishprogram.org/), which operates under the care of Crisis Assistance Ministry. The WISH program is designed to rapidly re-house homeless families into vacant units, which in turn reduces the trauma that engulfs them during this traumatic ordeal, while at the same time, creating a holistic social network and planning that helps ensure financial stability for the that family for the future.
Many of you in the real estate profession are also involved in combating this issue, either through financial contributions, or by volunteering your time to one of the may wonderful organizations in existence that are committed to ending homelessness.
As real estate professionals, we have a unique opportunity to both help our friends and neighbors, who have been rendered homeless, and to assist in strengthening and stabilizing our own industry. By involving ourselves in activities and organizations that are helping families, not only are these families benefited, but our industry as a whole is strengthened as these families progress back to becoming homeowners.
Law Avania's marketing approach is to invite real estate professionals and their clients to "EXPERIENCE THE DIFFERENCE" we offer in a real estate closing transaction. We want to extend and broaden that invitation and invite all members of the real estate profession to get involved and "EXPERIENCE THE DIFFERENCE" that will be made when we join together as a profession. It takes a home to end homelessness, and that is what we all are in the business of providing.
For those interested in finding out more about ways to get involved with the other projects that Law Avania is involved in including THE FREE STORE, or in sharing your ideas or experiences, please contact us at our TOLL FREE HOTLINE at 877-LAW-AVAN.
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