Real Estate Agent - RealEstateAdvisor.Pro
I will attempt to post information here that will help home owners, buyers and other real estate agents. Frank Wible's Foreclosure/Short Sale Team is a highly specialized group of industry leaders that include, lawyers, CPAs, lender negotiators, and specially trained real estate agents.
The Short Sale Listing:How can you determine if the property needs to be sold in a short-sale? The obvious answer is if the seller is upside down in the mortgage versus the property value, it's a short-sale. But are the conditions right for a short-sale? Does the seller have a hardship that will ...
Tax Implications of a Short SaleYes, this is the most popular question I get. Will I pay taxes on the short sale? There is no simple answer to this question, but from what I see, one is coming! The new law will not tax so called "income" on debt forgiveness. The law has passed the house, and is m...
See, he should have hired me to do a short sale...too late now!Frank WibleRealtor, Loss Mitigation Supervisor
Negotiating with a Lender for a Short Sale.Your day started out great. Business as usual! But then you get that phone call! The closing you've been working on for so long just fell apart. You go to the office and clients begin to call you asking why their house is not selling. The day just contin...
Hello Real Estate Professional,I just wanted to inform you that I have created a special group on Active rain for Foreclosures and Short Sale services. I will post updated data, addendums that I create, and cover letters for your contracts. I know this can be like helping my competition, but if i...
We've all seen the market drop in 2007 like a rock. How do we all see the coming years? Being that I have been following the market for a long time, I see the 2008 market to be total anarchy! Sorry that I had to say that for the people that were looking for a better year next year, I just don't s...
Feeling stressed out and hopeless?So many people feel the exact way you do right now. Most of this stress is caused by people not knowing what steps are taking place by their lender.Right out of the gate, I would like to make clear that a foreclosure is a process and not an event. The foreclosur...
How will a Short Sale Affect My Credit? Some of our clients were out looking for houses a few months after we short sold their house. Their mortgage was already approved! Credit Score Summary Your credit score is very important, and should be considered when thinking of a short sale. Credit score...
New Jersey Foreclosure Law Summary and Process The entire foreclosure process in New Jersey is about 12-13 months. This means from the first payment you miss, until the property is sold by the Sheriff, takes a little over a year. Judicial Foreclosure Available: Yes Generally, in judicial foreclos...
Do I have To Pay Cash? No! You do not have to pay cash if you are buying a foreclosure or short sale. It's just like any real estate transaction. You can purchase the home with a mortgage, and the mortgage can be any type. (FHA, VA, Conventional, Etc.). If you want to pay cash, that's ok too. Co...

Frank Wible

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