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Today's Mortgage Application Process
What does the loan officer need to pre-qualify you?
Social security number.
Bank statements for the past three months.
Pay stubs for the current month.
Name address, and phone number of all your employers. (present & past)
Income tax statements for the previous two years.
Loan officer partners;
Wells FargoLeonard Campbell: Cell;
Waterstone Mortgage Corporation Larry Griffin: Cell;
Access National Mortgage Susie Brunner; Direct;
What is a CDPE?
A Certified Distressed Property Expert® is a real estate
professional with specific understanding of the complex issues confronting the
real estate industry, and the foreclosure avoidance options available to
homeowners. Through comprehensive training and experience, CDPEs are able to
provide solutions for homeowners facing hardships in today’s market,
specifically short sales.
The prospect of foreclosure can be financially and emotionally devastating,
and often homeowners proceed without guidance of any kind. The developers of
the CDPE Designation believe that the best course of action for a homeowner in
distress is to speak with a well-informed, licensed real estate professional.
They have the tools needed to help homeowners find the best solution for their
situation. Often, when other options have been exhausted, CDPEs can help
homeowners avoid foreclosure through the efficient execution of a short sale.
While enduring financial difficulties is challenging for any family, the
process of finding a qualified real estate professional should not be.
Selecting an agent with the CDPE Designation ensures you are dealing with a
professional trained to address your specific needs. For more information,
contact Len Hart .
CDPEs don’t merely assist in selling properties, they serve and help save
their clients in need.
What is a Short Sale?
A short sale can be an excellent solution for homeowners who need to sell,
and who owe more on their homes than they are worth. In the past, it was rare
for a bank or lender to accept a short sale. Today, however, due to
overwhelming market changes, banks and lenders have become much more negotiable
when it comes to these transactions. Recent changes in corporate policy and the
Obama administration have also improved the chances of getting a short sale
approved.
But to be technical, here's a more official definition:
A homeowner is 'short' when
the amount owed on his/her property is higher than current market value.
A short sale occurs when a
negotiation is entered into with the homeowners mortgage company (or
companies) to accept less than the full balance of the loan at closing. A
buyer closes on the property, and the property is then 'sold short' of the
total value of the mortgage.
For homeowners to qualify for a short sale, they must fall into all of the
following circumstances:
Financial Hardship
– There is a situation causing you to have trouble affording your mortgage.
Monthly Income
Shortfall – In other words: "You have more month than
money." A lender will want to see that you cannot afford, or soon
will not be able to afford your mortgage.
Insolvency –
The lender will want to see that you do not have significant liquid assets
that would allow you to pay down your mortgage.
This seems simple enough, but it is a complicated process that takes the
expertise of experienced professionals. Len Hart has the qualifications and education. Together, he can help you identify all possible options and, when possible, a CDPE can
assist you in the quick execution of a short sale transaction.
Helpful Links Not only do I have local information on my site, but I have also put together the following links that you may find useful. Please note that all links will open in a new window.
Property Search This advanced web site lets you search thousands of local listings along with another 120,000 national listings. Once you find your dream home just click on "Contact Me" and I'll be more than happy to show you your next home!
Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 09/03/2010. The listing information on this page last changed on 09/03/2010. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of MRIS MLS (last updated Thu 09/02/2010 11:51:21 PM EST) or Rayac MLS (last updated Thu 09/02/2010 11:51:18 PM EST). Real estate listings held by brokerage firms other than RE/MAX Advantage Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --
Agency License Information: RE/MAX Advantage Realty is a licensed Real Estate Brokerage in the States of Maryland, Virginia, Pennsylvania as well as the District of Columbia.
