The Hot List
HUD is an acronym for The Department of Housing and Urban Development, a US government agency. The HUD homes that are for sale are homes that are currently owned by HUD. The former owners had an FHA loan and defaulted on their obligation to make their mortgage payment. HUD took ownership of the property via the foreclosure process and is now selling the home. As of this time, HUD will pay 3% of your closing costs and the down payment is only $100.00.
I have represented many Buyers on HUD homes and I am happy to help you! The only way to buy a HUD home is through a licensed Realtor®. Call me @ 614.218.3560 or email me at JaneTheRealtor.com and I will take you through the entire process.
*Please note: Bank Sales, Bank Owned, & REO are terms that mean the same thing, and are used interchangeably in the real estate industry.
As a member of the CBR (Columbus Board of Realtors), I have the most up to date details on foreclosures/bank owner REO properties in the area. Be aware there are many “scam” websites where you pay a monthly fee to access these databases. There are no “secret” databases. All bank-owned/foreclosure properties are on the CBR website. Call or email me to begin your search for a foreclosure/distressed/short sale property.
What is a Short Sale
A short sale, loss mitigation sale, & a pre-foreclosure sale are basically the same. They are transactions whereby your Lender will allow you to sell your home for less than what you owe. In addition, your Lender will pay for all of your closing costs including real state commissions. Keep in mind, a short sale is an application process and requires using a Realtor® who has vast experience in this field. With the down turn in the overall economy and the declining real estate market, many Lenders are realizing it is a better option for them than the foreclosure process. Please keep in mind there are consequences to a short sale. Many realtors today market themselves as “specialists” in this field just because they took a 3 hour seminar. I have been doing short sales for over five years and I have extensive experience in this area.
Whatever you do, don’t delay. Please call 614.218.3560 or email me @ JaneTheRealtor.com for a personal & confidential consultation. I will help you get through the process!!!
Financial 911/SOS/ “I’m upside down on my home!!!”
The biggest and most important step when you have a financial problem is to acknowledge there is a problem. Many/most of the HUD homes and bank-owned homes I see today are where the former owners chose to ignore their financial problems. Their decision to not face their problem will haunt them for MANY years to come. You do not want to go down that path. The consequences of a foreclosure on your credit are far worse than completing a short sale. You do need to call or email me. From the moment you engage me as your Agent, your problem becomes my problem. I have a team of attorneys who can assist us with all of the legal issues if that becomes necessary. I am anxious to help so don’t wait!
