Hope Starts With Us!

Making Strides Against Breast Cancer, Sunday October 19, 2008
@ Military Park in Newark, NJ

Join my in my efforts to volunteer and donate my time to a great cause. My family and I have faithfully been apart of this event for 6 years in loving memory of my aunt, Carmen Rodriguez. My aunt suffered by the hands of breast cancer in October of 2001. We watched her battle it out and we walk/donate to make a difference, to let her know that we remember, we love her, and think about her everyday.

I believe that hope for a world without breast cancer starts with me. That’s why I donate & volunteer in the American Cancer Society Making Strides Against Breast Cancer event. Not only is this my opportunity to join my community to fight back against breast cancer, it is a way to inspire hope by raising funds and awareness to help those facing the disease and save more lives. And you can be a part of it, too.

I have signed up to walk and hope you will join me in my effort by signing up to join my team or make a donation in support of my participation. Hope starts with us.

Visit My Personal Page and Show your support by donating! Every dollar counts!


Join My Team "La Familia" to show your support and walk!

In Loving Memory Of Carmen Rodriguez

What is a Short Sales?

Have you heard the term Short Sale or Pre-Foreclosure lately. This post goes over a few down-sides and up-sides to buying a Short-Sale Property.

Short Sales is becoming very popular and very common. Out of 5 listings on the market at least 3 will be short sales. So What is a Short Sale you Ask?

A Short Sale (aka Pre-Foreclosure) is when the 1st trust deed lender agrees to reduce the loan balance enough to get the property sold to avoid the foreclosure process to the seller. The advantage to the current homeowner is that they will get to stay at the property until closing and they don't have the foreclosure reported on their credit report.

Why are Short Sales great property to consider purchasing? Most likely there will be either homeowners or tenants still living at the property. Which means there is a better chance that the property has been kept in okay or good condition. With Foreclosed properties, it is more at risk of vandalism.

The Down-Sided to a Short Sale...THEY TAKE FOREVER FOR THE LENDER TO APPROVE. Short-Sales can vary from anywhere to 3 months to 6 months+ to be approved in order to proceed with the ordinary process of buying a home. So BUYERS if you are in a rush to find a home a short sale might not be the property type you are looking for. Also another Down-Sided (In most cases) the Sellers Lender will not negotiate any repair costs for the property. Therefore, The property is being sold AS-IS. You can scratch closings costs or down payment assistance out of the question too.

You might be asking why at this point...Well the Sellers Lender is already taking a loss on the property. The sellers at the very minimum have not paid 3 mos. of mortgage, the lender will take a loss for the difference of what the short sale is approved for (example: Seller owes $350,000 on mortgage and short sale approved for $300,000=$50,000 LOSS), and they have to pay attorney fees and any other fees associated with selling the property. Therefore, the chances of them paying for any closing costs or downpayment assistance is slim to none.

So what's the up-side of these short sales. Well the up-side is that you get a property that is in most cases in move-in condition at a discounted price. Your appraisal inspection will most likely be more than what you have offered anyway so you already have good equity in this property. If you have the time and the money to make a downpayment and pay for your own closing costs it might be a good deal for.

If you are interested in viewing any Short Sales (aka pre-foreclosures), I will be more than happy to assist you in the searching process. You can contact me at: (973) 392-3929 or email me Visit my website @ http://www.973house.com/

***I am not an attorney and cannot provide legal or tax advice**