Jeff Kaller, real estate developer and pre-foreclosure specialist, explains the advantages of purchasing Pre-foreclosed property. 
United States of America (Press Release) April 9, 2008 --
“A ‘Short Sale’ is where the bank takes a lower payoff amount in order to allow you to sell your home and avoid foreclosure” Jeff began to explain. “Mortgage lenders would rather sell houses prior to foreclosure at a price below actual value than be left holding depreciated property especially in an inactive market”.
This is the advantage of a “short sale” which is when the homeowner who is facing foreclosure, sells their mortgage to an investor at wholesale in order to walk away debt free. In today’s climate, there is no shortage of motivated sellers looking to for investors to take their debt off their hands. Lenders are more cooperative as well, willing to negotiate interest rates in order to attract more consumers. These factors are why Mr. Kaller says, “Now is the time to take advantage of the pre-foreclosure investment opportunities in Michigan’s Real Estate Market.”
When asked about determining the price of a house in foreclosure, Mr. Kaller explained the following: “A homeowner looking to sell their house can make the deal even sweeter by utilizing the buyer's appraisal to price the property rather than using an independent appraiser. The mortgage seller is required to obtain an appraisal per Mortgagee Letter 94-45, Paragraph E, "Steps Leading to - and Participation In - The PFS Procedure", Item #3, Pages 5-6. This requirement is because the property must be appraised on an As-Is and As-Repaired basis. However, if the buyer has secured an FHA-insured appraisal, use of the buyer's appraisal would be allowed since acquisition of an appraisal for HUD property cannot be duplicated within a six-month period.”
Jeff teaches the real estate secrets of purchasing pre-foreclosure properties while executing real estate theory to actual practice. To learn more go to http://www.freeshortsalecourse.com/
Contact Information:
Paramount Promotions LLC (The Countries Leading Short Sale Trainer)
Mark Maupin
303-B Anastasia Blvd. #148
St. Augustine, FL 32080
904-819-0676
Email Address: mgeronimo@thejeffkaller.com
This Press Release has been submitted by PREasy.com
This is the advantage of a “short sale” which is when the homeowner who is facing foreclosure, sells their mortgage to an investor at wholesale in order to walk away debt free. In today’s climate, there is no shortage of motivated sellers looking to for investors to take their debt off their hands. Lenders are more cooperative as well, willing to negotiate interest rates in order to attract more consumers. These factors are why Mr. Kaller says, “Now is the time to take advantage of the pre-foreclosure investment opportunities in Michigan’s Real Estate Market.”
When asked about determining the price of a house in foreclosure, Mr. Kaller explained the following: “A homeowner looking to sell their house can make the deal even sweeter by utilizing the buyer's appraisal to price the property rather than using an independent appraiser. The mortgage seller is required to obtain an appraisal per Mortgagee Letter 94-45, Paragraph E, "Steps Leading to - and Participation In - The PFS Procedure", Item #3, Pages 5-6. This requirement is because the property must be appraised on an As-Is and As-Repaired basis. However, if the buyer has secured an FHA-insured appraisal, use of the buyer's appraisal would be allowed since acquisition of an appraisal for HUD property cannot be duplicated within a six-month period.”
Jeff teaches the real estate secrets of purchasing pre-foreclosure properties while executing real estate theory to actual practice. To learn more go to http://www.freeshortsalecourse.com/
Contact Information:
Paramount Promotions LLC (The Countries Leading Short Sale Trainer)
Mark Maupin
303-B Anastasia Blvd. #148
St. Augustine, FL 32080
904-819-0676
Email Address: mgeronimo@thejeffkaller.com
This Press Release has been submitted by PREasy.com
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