Follow the link below to a revealing article published on January 14, 2014 in the NY Times
http://dealbook.nytimes.com/2014/01/14/as-refinancing-wanes-banks-remain-wary-of-new-loans/?_r=0
Wednesday, January 15, 2014
Friday, September 14, 2012
5 Short Sale Approvals in the last 7 days!
We are tooting our own horn a little bit! The Antonelli Law Firm has negotiated 5 short sales that have all been APPROVED this week!
If you are having trouble selling your home or investment property or have questions about how to sell a home that has negative equity, please give us a call. We can help!!
If you are having trouble selling your home or investment property or have questions about how to sell a home that has negative equity, please give us a call. We can help!!
Monday, August 20, 2012
We're Busy!
A good sign of the Raleigh-Durham market improvement is that our firm has created a substantial pipeline of purchase closings. These do not appear to be a summer "push" to complete purchases prior to the beginning of the school year, but a substantial uptick in purchase business in general. The level of new business is quickly approaching levels seen in past periods of strength in our market. Let's hope this is a harbinger of positive indicators in other areas of our local economy!
Tuesday, July 31, 2012
"How successful are you at closing short sales?"
I get this question frequently, and my answer is always the same. Anyone who gives a success ratio is not telling the entire story! A short sale has many variables that are exclusive from the attorney's work in negotiating the sale. In fact, the attorney is only as good as the Seller and the Listing Agent's responsiveness allows him to be. In other words, a good short sale attorney is adept at making sure that the Seller and Listing Agent know what is expected of them, are encouraged and reminded of these expectations, and puts the Seller in the best position to succeed! How do I accomplish that goal?
Preparedness. I do not accept a short sale client until the client has provided all documents requested on my short sale checklist, thereby showing a commitment to the process. I have every document that the bank is going to need in order issue an approval to participate in the short sale process before I submit the file to the bank! I then demand that my clients update their pay information and bank statements every month, to keeep our files current. Some firms simply begin the process, and then seek to answer bank requests as they are made. That philosophy can create delays and give Buyers doubt in the process.
In taking these steps, we give our clients the best chance for success in the process! I can assure you that there is no other short sale attorney or negotiator who is more prepared than the Antonelli Law Firm to successfully negotiate a short sale!
I get this question frequently, and my answer is always the same. Anyone who gives a success ratio is not telling the entire story! A short sale has many variables that are exclusive from the attorney's work in negotiating the sale. In fact, the attorney is only as good as the Seller and the Listing Agent's responsiveness allows him to be. In other words, a good short sale attorney is adept at making sure that the Seller and Listing Agent know what is expected of them, are encouraged and reminded of these expectations, and puts the Seller in the best position to succeed! How do I accomplish that goal?
Preparedness. I do not accept a short sale client until the client has provided all documents requested on my short sale checklist, thereby showing a commitment to the process. I have every document that the bank is going to need in order issue an approval to participate in the short sale process before I submit the file to the bank! I then demand that my clients update their pay information and bank statements every month, to keeep our files current. Some firms simply begin the process, and then seek to answer bank requests as they are made. That philosophy can create delays and give Buyers doubt in the process.
In taking these steps, we give our clients the best chance for success in the process! I can assure you that there is no other short sale attorney or negotiator who is more prepared than the Antonelli Law Firm to successfully negotiate a short sale!
Thursday, June 28, 2012
Friday, June 8, 2012
What documents do I need to retrieve for my bank and short sale negotiator?
To prepare for a short sale, or if you are already in the process of listing your home for short sale, there are multiple docments that you will need to compile and give to your attorney, for delivery to your short sale lender. If you are married, and purchased the property during your marriage, both spouses should provide these documents.* (exceptions exist-call me to find out!)
1. IRS Form 4506-T
2. Financial Statement (Fannie Mae Form 710)
3. 2 most recent months bank statements - all pages
4. 3 most recent pay stubs
5. 2 most recent years tax returns & Form W2's
6. A signed letter describing your financial hardship
7. If self-employed, a current (to-date) and prior year profit & loss statement
8. Business bank statements, all pages
9. 2 most recent years of business tax returns
Your realtor must also provide multiple documents. Please refer your realtor to our office so that we can explore options to make your short sale go smoothly and efficiently!
1. IRS Form 4506-T
2. Financial Statement (Fannie Mae Form 710)
3. 2 most recent months bank statements - all pages
4. 3 most recent pay stubs
5. 2 most recent years tax returns & Form W2's
6. A signed letter describing your financial hardship
7. If self-employed, a current (to-date) and prior year profit & loss statement
8. Business bank statements, all pages
9. 2 most recent years of business tax returns
Your realtor must also provide multiple documents. Please refer your realtor to our office so that we can explore options to make your short sale go smoothly and efficiently!
Can you negotiate with my lender, even if my home is outside of North Carolina?
Yes! I receive that question from time to time, and I can negotiate with your lender in most cases. The majority of home mortgages originate with national banks or lenders who are registered in all 50 states under each state's banking laws and regulations. I would love to hear from you to see if I can evaluate your problem and determine whether I can help with your short sale!
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