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Scott Slocum REALTOR

http://www.Cape-Coral-Real-Estate-Blog.com


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Cape Coral Real Estate Broker Associate Scott Slocum  

Scott Slocum a Licensed Florida Real Estate Broker reveals his perspectives and provides valuable real estate information on Buying Homes, Selling Homes, Real Estate Investment, Foreclosures, Short Sales, Real Estate Property Taxes, Mortgage Financing, and other Real Estate Related Topics.

  • On Demand Episodes

    Date / Time:

    Cape Coral Real Estate Cape Coral Home Hardship Foreclosure Options

    Cape Coral Home and Property Owners have been facing many challenges as the number of foreclosure filings throughout the nation increase, banking woes continue, the credit crunch looms, and the economy changes daily.  Some of these homeowners are trying to get a grip on what options they have to maintain, sell, or transfer ownership of their homes and avoid foreclosure through a variety of options.


    LISTEN TO OR DOWNLOAD THIS BLOG AS AN MP3

     

    Many options exist for those who are in or are going to be in a pre-foreclosure situation in the next six to twelve months.  Through our professional experience in speaking with customers over the past years these seem to be the five top options most homeowners are choosing to pursue.  The information below is a display of options available. The information should not be interpreted as legal or tax advice. The options below may not represent every potential options your lender may be offering you.

     

    Option # 1

    • Loan Modification/Loan Restructuring - This occurs when your lender changes the terms of your mortgage due to a hardship.  Typical examples include going from an ARM (Adjustable Rate Mortgage) to a Fixed Rate, Principal balance reduction from the current amount to the properties current appraised value, and recently Countrywide/Bank Of America has announced they will refinancing/modify home loans down to a 34% housing debt to income ratio starting in December of 2008.


    Option # 2


    • Deed-in-lieu of Foreclosure
      - This is basically a fast foreclosure.  You volunatrily transfer all ownership rights of the home to the mortgage holder by signing over the deed to relieve all the debt owed on the property.  This option may have similar credit implications to a Foreclosure however you may not start accumulating 30, 60, and 90 day lates on your credit report.

     

    Option # 3


    • Bankruptcy
      - This is a legal process in which a homeowner legally declares their inability to pay those organizations and institutions that have extended them secured and unsecured credit.  Depending on whether you file Chapter 13 or Chapter 7 you may still be responsible to sell you home.  A bankruptcy attorney will be able to provide you the most accurate information. 

     

    Option # 4


    • Foreclosure
      - This is when you stop making payments all together and the lender takes back your property through legal action in the court system.

     

    • Option # 5

    • Short Sale
      - This occurs when you list your property for sale at its present market value, obtain an offer from a perspective buyer, and negotiate with your lender to release the lien on the property for less than what is owed to facilitate the transfer of the property to a new end user.  This presents an opportunity for you to sell you home rather than just letting it go.

     

    LISTEN TO OR DOWNLOAD THIS BLOG AS AN MP3

     

     

    CONTACT US TODAY TO GET STARTED ON YOUR HOME or PROPERTY - We will send you the information and forms needed for us to start the process of assisting you with performing a Short Sale on you home, condominium, or property.

     


    ARE YOU AN INTERESTED BUYER? Follow this link for more information about buying a Short Sale/Pre-Foreclosure property.  By following this link you can search for foreclosures, pre-foreclosures, short sales and other competitively priced properties throughout our market area.  Follow this link to be added to our list of foreclosures, pre-foreclosures, and short sale notification list.  Once you're on the list you will receive updates as we place new properties on the market for sale and assist on sellers in getting their properties SOLD !!!

     

     

    ADDITIONAL QUESTIONS FROM BUYERS OR SELLERS ? Contact me here for additional information or by calling me direct at (239) 340-1384.

     

     

    Search Homes and Condos For Sale in Cape Coral Florida

     

     

    Scott Slocum, REALTOR
    Licensed Real Estate Broker Associate
    Florida Future Realty, Inc.
    2816 Del Prado Blvd South Unit 2
    Cape Coral FL 33904
    Direct:  239-340-1384     
    ScottSlocum@FloridaFutureAgents.com
    Cape-Coral-Real-Estate-Blog.com
    Search for Cape Coral & Fort Myers Homes

     

     

    "Copyright © 2008 by Scott Slocum. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed without the written consent of the author.

    Florida Future Realty

  • Date / Time:

    Cape Coral Real Estate - What documents are needed for a Cape Coral Short Sale

    Cape Coral Real Estate What do I need for a Short Sale?

    When you are ready to perform a short sale on your home you may be asking yourself "What financial information will I need to provide my lender to perform a Short Sale on my property?" Florida Future Realty Inc of Cape Coral FL has the answer to your question.  As a a proven leader in our community and the real estate industry when it comes to listing, negotiating, and successfully closing short sale properties for our customers our experience has shown us that your lender will require the following information from you at a minimum to start the process.

     

    LISTEN TO OR DOWNLOAD THIS BLOG AS AN MP3


    The financial data required is very similar to that needed to apply and qualify for a traditional mortgage.  Even if you have already submitted this information to your lender as a hardship consideration, you will need to submit all of this information again.  This information will be required by your lender to even entertain/consider negotiating a Short Sale on your property.


    1. Previous two months bank statements.
    2. Previous months pay stubs.
    3. Previous two years tax returns or schedules.
    4. Hardship Letter explaining your present financial state.
    5. Most Recent Mortgage Statements
    6. Monthly profit and loss statement outlining all income and monthly obligations.
    7. Credit Card / Cancelled Home Equity Loan checks if you have been making your mortgage payments by borrowing money on credit.

     

    Keep this information at arms length throughout the transaction.  At anytime the lender may request updates copies of this information and time is of the essence.  Unfortunately lenders at times are looking for reasons to deny files due to timeliness.  At Florida Future Realty Inc. we strive to be ahead of time with all requests from your lender.  Be mindful that your lender may request additional documents in the future.  Speed is of the essence at the time of these requests.


    CONTACT US TODAY TO GET STARTED ON YOUR HOME or PROPERTY - We will send you the information and forms needed for us to start the process of assisting you with performing a Short Sale on you home, condominium, or property.


    ARE YOU AN INTERESTED BUYER? Follow this link for more information about buying a Short Sale/Pre-Foreclosure property.  By following this link you can search for foreclosures, pre-foreclosures, short sales and other competitively priced properties throughout our market area.  Follow this link to be added to our list of foreclosures, pre-foreclosures, and short sale notification list.  Once you're on the list you will receive updates as we place new properties on the market for sale and assist on sellers in getting their properties SOLD !!!

     

    LISTEN TO OR DOWNLOAD THIS BLOG AS AN MP3


    ADDITIONAL QUESTIONS FROM BUYERS OR SELLERS ? Contact me here for additional information or by calling me direct at (239) 340-1384.


    Search Homes and Condos For Sale in Cape Coral


    Scott Slocum, REALTOR
    Licensed Real Estate Broker Associate
    Florida Future Realty, Inc.
    2816 Del Prado Blvd South Unit 2
    Cape Coral FL 33904
    Direct:  239-340-1384     
    ScottSlocum@FloridaFutureAgents.com
    Cape-Coral-Real-Estate-Blog.com
    Search for Cape Coral & Fort Myers Homes

     


    "Copyright © 2008 by Scott Slocum. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed without the written consent of the author.

    Florida Future Realty

  • Date / Time:

    Cape Coral Real Estate - Cape Coral Foreclosure Bank Owned REO

    Cape Coral Florida Bank Owned REO Foreclosure property and homes are available now at very reasonable prices.  Cape Coral and other cities in our region have become a prime opportunity for those looking to purchase a new home, condominium, multi-family income producing, or vacant land.

     

    LISTEN TO OR DOWNLOAD THIS BLOG AS AN MP3

     

    As of this morning we have:

    1. Single Family Homes starting under $40,000
    2. Condos starting under $30,000
    3. Income Producing Duplex (and larger) starting under $70,000
    4. Vacant Quarter Acre building lots starting under $9,000

     

    The prices obviously increase from that price range. This is something to keep in mind when bidding on these properties. We have noticed that some of the asset managers have had the listing agent set the listing prices low to draw an increased interest in the property.

     

    Now we have seen just the opposite too. There are properties with listing prices slightly higher than the rest of the properties on the market. Many of these properties will encounter higher days on market time. I started suggesting to recent customers to bid on these properties rather than the lower of the low priced ones that will draw 10 offers overnight at times. The results have been impressive on the higher priced high days on market properties.

     

    They key to buying a Cape Coral Bank Owned, REO, or Foreclosed property is to trust the judgment of your REALTOR when placing an offer on these properties. Have them pull comps to see if the price is a dream or reality. You may be in a position where you will want to bid over or under the listing price depending on the comps, the days on market, and activity on the individual property.

     

    If you are interested in purchasing a Bank Owned, REO, Foreclosure, or Foreclosed properties in the Cape Coral, Fort Myers, and Greater Lee County FL area contact me today.

     

    LISTEN TO OR DOWNLOAD THIS BLOG AS AN MP3

     

     Additional Questions? Contact me today or call me direct.

     

    Search Homes, Condos, Land For Sale in Cape Coral

     

    Scott Slocum, REALTOR
    Licensed Real Estate Broker Associate
    Florida Future Realty, Inc.
    2816 Del Prado Blvd South Unit 2
    Cape Coral FL 33904
    Direct:  239-340-1384     
    ScottSlocum@FloridaFutureAgents.com
    Cape-Coral-Real-Estate-Blog.com
    Search for Cape Coral & Fort Myers Homes

     

    "Copyright © 2008 by Scott Slocum. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed without the written consent of the author.

    Florida Future Realty

  • Original Air Date:

    Cape Coral Real Estate - What documents do I need for a Short Sale?

    Scott Slocum discusses the documents necessary to perform a short sale on your property.

  • Original Air Date:

    Cape Coral Real Estate - Bank Owned REO Foreclosed Properties

    Cape Coral Florida Bank Owned REO Foreclosure properties are available now at very reasonable prices. Scott Slocum provides his insight on how to get the best deal.

  • Original Air Date:

    Cape Coral Real Estate - Pre Foreclosure Options

    Scott Slocum covers a variety of options available for those facing the possibility of foreclosure.

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