Is Your Mortgage out of Balance with your Budget?

It can happen quickly.

An expensive car repair, an unexpected hospital visit, a missed week of work – just a few little things and the life you’ve worked so hard to build can feel like it’s tipping dangerously out of balance.

Once the scales turn against you, it can feel like it is impossible to ever tip them back in your favor again. When your financial problems reach the point where they threaten your home, it is difficult to manage the stress. Sometimes it is even difficult to force yourself to seek help.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide financially-challenged homeowners with options to foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.

Choose to face the challenge with a professional on your side.

I can help you realign the balance in your financial life and tip the scales back in your favor. Call or email me and schedule your free, confidential consultation. We can work together to make sure you end up ahead.

Dawn Whalen, Realtor

317-807-1568

dawnwhalen@remax.net

 

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Full Time Agent

I know I’ve written about this before, but it bears repeating!! 
Whether buying or selling it is important that you work with a full time agent.  You want someone fully devoted to your real estate transaction every day it needs attention, not only on the days they are off from their “full time job”


Obviously we all deserve time off, even Realtors.  However along with the full time agent, you want an agent who has someone who will cover their business while they are on vacation, or taking a day off or whatever the case may be. 
I am currently in the middle of a transaction where the other side needs to request an extension for the closing date.  My clients are agreeable to this, and I asked the other agent to send the request over in writing.  The response was “I am on vacation this week with limited computer access, so I will get it to you first thing Monday”


That is fabulous, they need the extension, but their agent who is getting paid equal to what I am getting paid is on vacation and unable to do her job, and has no one that can cover for her.
So do your self a favor when you are thinking of buying or selling.  Interview agents and don’t be afraid to ask these questions:
Are you full time?
Do you have someone who can cover for you in case of emergency or vacation?
And if you or someone you know are looking to buy, build or sell in the central Indiana area feel free to contact me and ask those questions!  You can reach me at 317-807-1568 or dawnwhalen@remax.net

Buying a Short Sale

Many times a buyer can obtain a great deal on a short sale.  There are pro’s and cons to buying a short sale, as there is to everything in life.

If the listing agent has been working with the sellers and the mortgage company chances are they already have an approval to participate from the sellers lender, or they are close.  Even with an approval to participate, which is a notice from the sellers lender, agreeing to accept less than what is owed on the property, there is sometimes a wait while the lender reviews and processes the offer.  Patience is most certainly required when working with short sales. 

If as a buyer you have a certain time frame to be out of your current home, a short sale may not be a viable option for you.  However if you do not have time constraints, a short sale may be a perfect buy for you.

Most times short sales are sold as is.  The seller typically does not have the money for repairs, assisting with buyers closing costs etc.  When I work with a buyer looking at short sales, I advise they speak with their lender about obtaining a 203K Rehab loan.  This type of loan will allow for certain repair costs to be included in the loan. 

Once approval has been received from the short sale lender to work with the offer the buyer has submitted, it is imperative to move quickly.  Once the short sale lender gives their stamp of approval, they allow 30 days from the day they approve to the day the property closes.  Some times the short sale lender will approve an extension, but not normally more than 15 days, allowing a maximum total of 45 days to close the transaction.

You will want to make sure your lender is going to be able to process the transaction in the time frame allotted by the short sale lender.  And this is a question you should find the answer to prior to submitting an offer.  If they can’t give you an answer, shop around for lenders, but do it before you submit the offer. 

Also, make sure the Realtor you use is a full time Realtor.  Especially in a short sale transaction.  While the banks may take forever and a day to respond to an offer, they only give a limited amount of time when they need something from the buyer, buyers agent, seller or seller’s agent.  You want someone who is able to get the job done, in the time frame given, so that you don’t end up losing the deal of the century on the house of your dreams!

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This Is My Job- This Is What I Do Fulltime…

I am a Realtor, and take pride in the fact that I help people find their dream home, or sell a home to close a chapter in their life.

It is important to me to do everything in my power to make sure we successfully get to closing.  This is why I am a Fulltime Realtor.  There are going to be times that it is necessary that a Realtor stop what they are doing mid stream to address an issue with an upcoming closing, because it is time sensitive.  Many times if a Realtor is working a Fulltime job and selling real estate part-time, these things can fall through the cracks and ultimately lead to a transaction falling apart. 

Buying or Selling a home is a large transaction, and to make sure that you are protected as a buyer or seller it is important that you have a full time agent who is able to address anything that may come up in a timely manner as opposed to an agent who can only take care of the issue once they finish their work day at their full time job.  If the Realtor isn’t able to take or make calls, or respond to emails due to other obligations, a buyer or seller could potentially lose out on a transaction that was a sure thing.

If you have questions or are looking for a realtor, feel free to contact me at 317-807-1568 or dawnwhalen@remax.net

Technorati Tags: full time realtor,part time realtor,indianapolis area realtor

Change the Course

Shifting economic winds have left millions of Americans feeling financially stranded and not knowing where to turn. 

For homeowners who have lost their jobs, spent through their savings and now find themselves with a mortgage payment they can no longer afford on a home that's worth less in today's market than the amount they owe their bank, there are no easy answers.

Helping clients to figure out their best course of action within a market that's nothing like any of us have ever dealt with before requires an entirely new level of expertise and training. That's why I've sought out the Certified Distressed Property Expert (CDPE) designation—the most recognized and respected training on distressed properties in the real estate industry.

Most importantly, I am tapped into a network that holds its members to the highest standards of ethics and expertise.

I invite you to visit my website and contact me if you know someone you know who I could help. And please feel free to refer my contact information to others within your sphere.