New Rules to Aid Struggling Home Owners

New Rules to Aid Struggling Home Owners

Here is the latest new to assist struggling home owners, the Consumer of Financial Protection Bureau stated that US banks will have to do more to help struggling mortgage borrowers keep their homes.

The Consumer of Financial Protection Bureau was established by  Congress  to protect consumers and help them understand their terms of agreement with their financial companies. The Consumer of Financial Protection Bureau or CFPB stated last week the mortgage servicers will have to evaluate all troubled home loan borrowers and find out if they qualify for any loan-assistance permitted by the investor. At this point there are no laws or mandates that require lenders to assist troubled or defaulted home loan borrows.

The Bureau also announced that the lender will not be able to start the foreclose process until the borrow has missed 4 payments. The 4 months period should allow the borrow time to submit a loan-assistance application. The lender will be required to provide documents on what programs that are available to the home owner

The new rule take place in a year, it should help alleviate the number of foreclosures.  This will not prevent foreclosures but it may slow down the process. For more information please visit  their website.

Please call or email to address any real estate question or concern.

Thank you,

Ainsley Daux
Florida Realty
(813)546-1954

 

How to Increase your Credit after a Short Sale!!!!

 What is a short sale
A short sale is when a bank allows the owner or mortgage holder to sell the home for less than owed on the mortgage. A short sale is an alternative to foreclosure, both the short sale and foreclosure has an adverse affect on credit rating. There are ways to increase your credit score after the short sale. Its not guareented to increase your credit score immediately but it will help in the long run. Please see below for few steps to increase your credit to purchase a home after the short sle

1. Order a copy of your credit report. More than 80% of credit reports have mistakes, so order copies of your credit report from all three major credit bureaus – Experian, TransUnion, and Equifax. Review your credit report to make sure there are erroneous reportings. If there any errors contact the credit bureaus and dispute them.
2. Continue to pay on your existing accounts. To increase you credit score, you have to make on-time payments with your current open accounts. Continue to pay them, because the length of an open account will help increase your credit. Make sure you have different types of revolving credit account such as: a gas card, a store credit line, secured credit card etc. Remember try to pay the cards off each month or keep the balance very low
3. Open a secured line of credit . If you cannot get approved for a unsecured card, you can probably qualify for a secured credit card. A secured card allows you to make a deposit, that deposit is used. Normally you can open a secured card thru your local bank; once the deposit is made and you begin to use the card, it will report to the credit bureaus. For more information contact your local bank

Please feel free to call or email with any questions or concerns

Ainsley Daux
Florida Realty
(813)546-1954


Florida Realty
902 w Lumsden rd
Florida Realty
(813)546-1954

Tampa Bay Short Sales.
Tampa Homes for Sale

New Short Sale Listing in Brandon, FL.

New Short Sale listing located in Brandon.
This Brandon short sale is located in a convienant location near resturants, shopping centers and entertainment.
Some repairs needed, but some hard work and elbow grease can turn this home into a gem.
Please call or email me for more information regarding this home into a Gem.
Thank you,

Ainsley Daux
Florida Realty
(813)546-1954

902 w. Lumsden rd

Brandon, FL. 33511

Just Sold another Short Sale (Brandon Short Sale)

Just sold this 3 bedrooms, 2 bathroom, single family home.
I listed this home and litigated the short sale.
Please call or email with any questions or concerns regarding Tampa Bay and Brandon Short Sales.
Thank you,

Ainsley Daux
Florida Realty
(813) 546-1954

Brandon Short Sale
Tampa Bay Short Sale

Pinellas Park Short Sales

New HUD HOME, Turn this HUD home into a GEM

This home hit the market today, its a 3 bedroom, 2 bathroom, over 1600 sq ft home located in north west Tampa. Work is needed
Please call or email too see this home today.
Thank you,

Ainsley Daux
Florida Realty
(813)546-1954

listing courtesy of: COLDWELL BANKER FIGREY&SONRES
Equal Housing Opportunity HUD properties are offered for sale to qualified purchasers without regard to the prospective purchaser's race, color, religion, sex, disability, familial status, or national origin. "HUD reserves the right to reject any and all offers or to withdraw a property prior to bid opening. Accuracy of information contained in this advertisement is not guaranteed. Properties may contain zoning and code violations as well as defects which could affect the purchaser's health or safety. It is the purchaser's responsibility to satisfy himself as to accurate information and property condition, including any possible zoning and code violations.

Just Sold Bay area Short Sale

Once again "I did, what I do", I listed and mitigated another succesful short sale.
The great thing, the lender provided a documentation stating they will not pursure the seller for the deficiency.



Ainsley Daux
Florida Realty
(813)546-1954

Just Sold 1613 Crossridge dr. Brandon, FL 33510

2012-the year of the short sale

Here is a very interesting article

2012 - the year of the short sale? By Tom Tryon: "Here is the real-time tale of two real estate markets. One market is depressed and distressed. Propertyvalues are down. Since mid-2006, residential values in Florida have declined by 51%. Hundreds of thousands of properties havebeen, or are, in foreclosure and huge numbers of homes have beenrepossessed. Consider these statewide numbers, presented byanalyst Jack McCabe during last week's Herald-Tribune Hot Topicsforum:- 150,000 residential properties in Florida have beenrepossessed, and are owned, by banks.- 371,000 foreclosure cases are open in courts.- 530,000 residential mortgage loans are at least 90 days pastdue and in default.- 265,000 homeowners have not made a mortgage payment in morethan two years.- 1 million residences are in some form "distressed," whether inforeclosure, owned by banks or in default.

- 46% of mortgages "under water" - in other words, the debtexceeds the current market value of the residential property.Add this number - 809, the average number of days to process aforeclosure in Florida - and it's easier to understand whyso-called short sales, in which owners and mortgage holders sellat steep losses, are viewed as advantageous options and positivemovements in the total market. The overriding question posedduring the forum was: Will 2012 be the Year of the Short Sale? The answer, expressed by the overwhelming consensus of McCabe,the guest speaker, the panel - Michael Braga and Harold Bubil ofthe Herald-Tribune; attorneys Nancy Cason and Tom Avrutis - andaudience was: Yes. There was one caveat: 2013 might be theSecond Year of the Short Sale. That's because the volume ofpending foreclosures — and the imminent threat of even more,could make it impossible to clear this "shadow inventory" fromthe real estate market. There was widespread agreement among the150 people — analysts, lawyers, bankers, real estate agents anddevelopers — who attended the forum that more lenders arewarming to short sales, despite the bottom-line effects ofwriting off losses. What's more, the homeowners in financialperil are overcoming the psychological hurdles - and coming toterms with the financial implications of - short sales. The real estate market is so complex that it's impossible tocover in a multi-day symposium

much less a 90-minute forum. ButI took away two simple points: 1) The current market is like asummer day in Florida: Dark and cloudy during one part of theday, with scattered sunshine and the possibility of bright daysahead; 2) It's no wonder my wife and I have stayed in the samehome for 25 years; real estate makes my head spin