Reid Real Estate Group assists homeowners with FHA mortgages short sell their homes in Connecticut . Read up on FHA short sales in CT (FHA PFS program) and some of our recent short sale success stories. If you need assistance with a short sale in the area contact Minna Reid today for personalized advice!
Upside down with no way out!After numerous failed attempts to sell their Ridgefield home, my clients were forced to accept that their property simply would not sell for the amount they needed to pay off their FHA mortgage. Like many of CT’s most expensive towns, Ridgefield has been experiencing a downward trend in home sale […]
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Divorce tends to get complicated, and many times jointly owned property can be a headache. Matters get even more difficult when the debts against the home exceed the homes value, and a traditional sale is just not possible.During the divorce the ex wife had moved out and signed a quit claim deed leaving her ownership […]
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If you have an FHA backed loan and you’ve ever had any type of loan workout – including a loan modification, odds are you have a partial claim against the home.What is a partial claim?A partial claim is an interest-free loan from HUD to get caught up on overdue payments on an FHA loan, and […]
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Wells Fargo can be a challenging lender to work short sales with, but sometimes you get lucky! See how our South Windsor, CT short seller walked away from over $50,000 of bad mortgage debt in this Wells Fargo FHA short sale!After years of struggles with loan modification attempts, our seller decided it was time for […]
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FHA short sales are always some of the most predictable. FHA has a fantastic short sale program that has some really great perks for sellers, such as full debt forgiveness and very clearly set guidelines.A few years after purchasing their home, these home owners fell on hard times and were now facing foreclosure.After many attempts […]
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Short sales are generally never quick and easy, but once in a while we are pleasantly surprised!After a bad experience with a property manager, our Connecticut home owner found herself with a vacant property worth less than the mortgage value, while she tried to manage the situation from several states away. Without rental income she […]
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If you have an FHA mortgage your loan is insured by HUD. HUD has their own short sale program known as the FHA PFS (Pre-Foreclosure Sale) program.The FHA PFS Program was originally introduced in the 1990’s to help homeowners in default with FHA mortgages avoid foreclosure and free them of their mortgage obligation, when a […]
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Wells Fargo short sales have been quite a challenge for the last few years. It takes a lot of patience and persistence to get these done, and this Wells Fargo FHA short sale proved no exception…..After struggling with her West Haven home for several years through a series of unsuccessful loan modifications, our seller was ready […]
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Why is it important to know who the investor is on your loan? Contrary to popular belief, the bank you send your payment to rarely actually owns your loan. Loans are actually owned by investors, and only serviced by who you send your payment to. Whether you send your payment to Bank of America, Wells Fargo or GMAC, they do […]
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Short sales on mortgages backed by FHA are a little different than your average short sale. FHA has their own short sale program called the PFS (pre-foreclosure sales) program. FHA follows their own specific guidelines for who qualifies and FHA keeps some pretty strict rules for their short sellers: FOUR TIPS TO GET THROUGH YOUR SHORT […]
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