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Mount Pleasant SC Homes for Sale, Mount Pleasant SC Real Estate for sale, Mount Pleasant SC Condos, Mount Pleasant SC Homes for Sale Listings, Charleston SC Fractional Homes for Sale
Charleston SC Short Sales - 2010!
Founded by English settlers in 1670, Charleston has played a major part in American history since its founding. The peninsular city is what most people think of when they hear "Charleston," and it is brimming with historic buildings and places to shop, dine and visit. Charleston has had its natural disasters, including an earthquake that shook the city in 1886 and Hurricane Hugo in 1989. Through it all, the downtown district has been a symbol for the enduring strength of the city. Charleston short sales can be found in the downtown area, James Island, West Ashley and Daniel Island. The Historic Downtown District has stood throughout Charleston's history as a cultural capital of the South and the cultural heart of the city. Many consider it a "living museum." The downtown district also boasts numerous art galleries that display the city's impressive appreciation for the visual arts. Settings downtown including the Battery, with views of Charleston Harbor and Mount Pleasant beyond, the neighborhoods of Wraggborough, Radcliffeborough and Ansonborough, and the cobblestone streets of the French Quarter. Quiet garden courtyards form the "back yards" of single houses whose front doors open onto porches perpendicular with the sidewalks, and many a tourist-filled horsedrawn carriage can be spotted in traffic. The main shopping districts are along Market and King Streets, but businesses and eateries are sprinkled throughout the peninsula. These busy main arteries are surrounded by street after street of quiet, stately residences, lush with crape myrtles, wisteria and the garden landscapes that put Charleston on the map. UPDATE April 6, 2010 The Obama administration will give $3,000 for moving expenses to homeowners who complete such a sale, known as a short sale, or agree to turn over the deed of the property to the lender. It's designed for homeowners who are in financial trouble but don't qualify for the administration's $75 billion mortgage modification program. Owners still will lose their homes, but a short sale or deed in lieu of foreclosure doesn't hurt a borrower's credit score for as much time as a foreclosure. For lenders, a home usually fetches more money in a short sale than a foreclosure. And the bank avoids expensive legal bills, cleanup fees and maintenance costs. "It's very traumatic and embarrassing and frustrating to go through a foreclosure," said Laurie Maggiano, policy director of the Treasury Department's homeownership preservation office. With a short sale, she said, "your financial issues are your own problem and not neighborhood conversation." Along with the financial incentives, the new government program makes another key change. Mortgage companies will have to set their minimum bid before the house is listed for sale. If the offer is above that, the lender must accept it. That's a big change from current practice. Lenders generally don't calculate how much money they are willing to accept on a short sale until they have an offer in hand, causing long delays before the sale is approved. The new program "will give us a degree of efficiency that we have not had in the past," said Matt Vernon, Bank of Under the new process, buyers who submit an offer to purchase a home in a short sale should get a response within two weeks, as opposed to months. If that happens as planned, it would be a big improvement. However, there are plenty of restrictions. To qualify, the home needs to be a borrower's primary residence. Homeowners either have to be behind on their mortgages or on the verge of becoming delinquent. Currently, the program is not available for mortgages owned or guaranteed by mortgage finance companies Fannie Mae and Freddie Mac, though the two government-controlled companies will soon follow suit.
We Can Help - Lets Get Started! An experienced Short Sale real estate agent is crucial to the process. The short sale agent will take the lead on coordinating with the bank and the client’s other advisors such as their attorney, financial planner, and CPA. Professional Real Estate Closers can be a tremendous asset to this team. They are experienced with short sales and bank negotiations and are willing to begin working with at the time of the listing to help collect the required documents. As daunting as this task can seem to many agents, imagine what the client thinks when considering a short sale. It’s imperative that an experienced team guide and coach the client through this complicated process.
Click the link below and let's get started ....... Click Here for Buyer or Seller assistance with a Short Sale.
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