Tweetup – Downtown Canton – June 5th
May 29, 2009
Canton Tweetup!
Meet the Tweets
Bring your twellow twits and your favorite tweeting device. Come down and enjoy the first friday festivities, good company, great eats, and live music!
First Friday, June 5th @ 5:00 PM till whenever
@ Peter Shears Downtown – Grand Reopening!
427 Tuscarawas St. E Canton, OH (by McDonalds)
On the Patio: Food and Beer $10 (more details coming soon)
Live music: The Suburban Culture 7:00ish
Look for the Fail Whale
Hosted by @joeyda3rd
*Unless we get a corporate sponsor or a few donations, there won’t be food or beverage purchased for everyone, but feel free to buy your own food and drinks.*
Deed in Lieu or Short Sale?
May 22, 2009
When trying to avoid an imminent foreclosure, the borrowers should be aware of their options. I have found that currently there are two options to eliminate the loan, short sale or deed in lieu of foreclosure. The difference between the two really depends on the current market value of the home and the remaining amount owed on the mortgage note.
3/25/10 – Update: A new program from the treasury department may allow you to sell your home quickly at short sale and receive $1500 for relocation costs. Find out the details of this program and see if you qualify.
SHORT SALE
A short sale is an agreement between the bank and the borrower to sell the property for less than what is owed. The borrower will need to be in hardship for the bank to agree to discount the loan.
Short sales may or may not affect the borrowers credit somewhat, but not as bad as a foreclosure. A short sale may be recorded as a type of settlement on the borrower’s credit. So, if they keep up on the payments and the bank doesn’t record any settlement on the borrower’s credit, it may not affect their credit at all. The borrower’s might have to wait a few years to get a mortgage again, but there’s a chance their credit won’t get ruined.
One thing to note is that every bank is different. Most banks will eliminate the debt completely. One bank held my short sale sellers responsible for the remainder of the debt.
You will want to know your note holder’s policies on short sales.
An experienced short-sale agent can help you sell your home in short sale and get you out from under your expensive mortgage and over-inflated property. Email or call today to get a free short sale analysis and determine if your situation is right for a short sale in Stark County.
joey@whippleauction.com <- ~ – ~ -> (330)412.2221
DEED IN LIEU
A deed in lieu is a deed instrument that allows the borrower to sign over the deed to the bank to satisfy a loan in default. Most likely, a bank will only agree to a deed in lieu if the amount owed is less or equal to the value of the real property. This may be different now that the market has decreased, so anyone will want to consult a professional on deeds in their market.
It is my understanding this will most likely decrease your credit just as much as a foreclosure.
There are other options if the loan payment amount is just out of reach but you wish to stay in your home, such as loan modification, special forebearance, refinance, etc. Talk with your bank’s loss mitigation deptartment (if you can get through), and see what options are available.
*Contact your bank’s loss mitigation department for correct information.
Canton & Stark County Ohio Areas
May 18, 2009
Here are some of the areas in Stark County.
Canton
North Canton
Canton South
East Canton
Plain Township
Perry Township
Jackson Township
Canton Township
Massillon
Canal Fulton
Louisville
Green
Uniontown
Hartville
Navarre
Brewster
North Lawrence
Minerva
and many more…
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Listings
Great 3 BR, 2 Bath Canton Home For Sale | All Appliances Stay!
Excellent 3BR, 2 Bath, NW Canton Home For sale, w/ appliances!
For Sale $64,900
NW Canton Home for Sale – 2 Story Colonial
Great location 2 story colonial at an even greater price
For Sale $79,900
Completely Remodeled 3 Bedroom Home for Sale in Canton OH with large lot
Completely Remodeled 3 Bedroom Home for Sale in Canton OH
Sold $59,900
Large 4 Bedroom Remodeled Canton Home w/ First Floor Laundry
Large 4 Bedroom Remodeled Canton Home w/ First Floor Laundry
For Sale $59,900
Uniontown/Springfield Twp Home For Sale – 2005 built house with large lot and detached garage
Uniontown/Springfield Twp Home For Sale – 2005 build w/ almost 3/4 acre and detached garage
For Sale $150,000
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