TuscanSpud

Overleveraged homeowners, buyers/investors: perhaps you thought that loan was a good idea back when, but missed a payment or two and have gotten the creepy feeling that it wasn’t such a great plan; maybe you’ve even received a formal Notice Of Default (”NOD”) after missing a bunch of mortgage payments.  It isn’t too late–get on the phone, write an email–heck, send up a smoke signal to someone that knows short sales (I just put my phone number on the “Spud” today…what a coincidence…what can I say?  I’m a blogging-rookie with quite a bit to say, actually.  But I’m no real estate rookie!) and have the steps outlined for you in great detail.  I’d be happy to meet at Rembrandt’s, Tully’s, or anyplace with a discreet table-seating area here in SW Idaho, and I’ll take as much time as you need to help you understand and take action!

House values are dropping, and “upside-down” (a.k.a. “inverted” in pilot speak) on your house is becoming more and more common, but as long as the blood is flowing directly to your head, make contact with someone who has studied the playbook!  Many people in this situation just don’t know how to get away from the 7+year black-hole on their credit, and often start too late.  Most Real Estate Agents have never been involved in a short sale, much less a “less-than-positive” market, and don’t know how to make all of the parts of the machine work.   

Hurry:  If this is you, before you build additional debt, file for bankruptcy, attempt to pay for things that shouldn’t be so high on your priority list right now, you should understand what a short sale is–and it isn’t a “quick-close.”  Bottom line, in a short sale the lender agrees to be paid off with less $ than you owe.  You can imagine that your lender does not want to put this concept on a billboard, so they might not want to chat about it with oyou on the phone, either.  

Don’t wait, and don’t get involved with a real estate agent who hasn’t worked them before; having help is priority #1 so that you don’t waste precious time.  I’m here at the big, evolving, T-Spud, and I am easy to get in touch with, but if you are out of the Treasure Valley area, you can write your questions and I’ll try to help.  Or, let me know, and I’d be glad to help you find someone in your SpudVille or SpudTown A.S.A.P.  Good Luck SpudNation…