If you are in the Orlando area, and would like to find a real estate agent that has experience handling short sales, we can help.

Avoid Foreclosure

If you fall behind in your mortgage payments you will receive a lot of mailers offering to help you get out of your unfortunate situation. Many of these people are looking to take advantage of someone in a difficult situation. Often, the reason someone falls behind on their mortgage is due to a situation they had little control of. Jerry LaRose is here to work with you and make sure that before you do anything, you know all of your options. We have helped many clients work through difficult issues with their home and help them find the solution that makes the most sense.

The # 1 thing you need to make sure you never do is sign anything you are not familiar with. DO NOT SIGN anything with ANYONE offering a service that seems too good to be true. Many people are forced into doing something they don’t understand and it often puts the homeowner in a very vulnerable position. Don’t Do It, Don’t Sign Anything!

Options to Consider When Facing Foreclosure

Option # 1    Sell Your Home

Depending on the market and area you live in, you may consider selling you home if you have enough equity to pay off your existing liens. However, you may not be able to do a regular sale if you owe more than what your home is worth. Using an experienced Realtor that works closely with banks will give you the time needed to sell your property at the highest price possible. We can help with this process and provide our many years of real estate experience.

Option # 2    A Short Sale – Not a Typical Sale

Refinancing your home and paying off the existing loan sounds easy and it may be an option that you have already pursued. In this current real estate market it has become almost impossible to refinance your home if you have less than 10-20% of equity. We may be able to show you some loan options that you have not been presented with but it’s probably likely you have already explored this option and will not have many if any refinancing options available. Jerry LaRose works with many different lenders and has access to many different types of loan programs but the refinance market has become very limited. Contact Us today, we would be happy to provide you a quick, accurate loan quote. If your ultimate goal is to stay in your home and you can’t refinance your home your best option may be a loan modification.

Option # 4    Negotiate a Forbearance Agreement

The advantages for the homeowner are to avoid foreclosure and not go through the difficult process that it entails. It will release all or most of the liability from the homeowner and allow the bank to turn around and sell the property much sooner without the bank having to spend additional time and money going through the foreclosure process. This would be a good option to consider if you feel that there will be no benefit from you selling your home or doing a short sale.

Option # 6    Do Nothing – Just Let it Go

You can always let your home go into foreclosure and do nothing. Sometimes the situation seems so overwhelming and this may be a good option. We don’t recommend that you do this, and would suggest that you talk to someone so you can determine if any of the options above would make more sense. Please feel free to ask any questions you have in our real estate forum. We have agents that will provide you with answers to all of your real estate questions. You can also contact us if you feel more comfortable. It’s important that you talk to someone that you can trust, and not someone that is looking to take advantage of someone in a difficult situation. There are many real estate scams and you don’t want to become a victim because you didn’t seek a second opinion. You may have some options that you are unaware of.

When is Foreclosure Removed from Your Credit Report?

Use this handy guide to figure out how quickly you can buy a home after a major financial setback when applying for a loan through FHA, Fannie Mae, or Freddie Mac. Read

Foreclosure Help: 5 Pros You Need on Your Team

Know which experts provide foreclosure help—often at no cost to you—and how to find them. Read

Foreclosure Alternative: The Short Sale

A short sale is far from hassle-free, but it’s a better alternative than foreclosure. And now you’ve got a little help from your friends in D.C. Here are the facts about short sales and how to get started. Read

Facing Foreclosure: What to Do Right Now

If you’re facing foreclosure, don’t panic: Take steps right now to save your home or at least lessen the blow of its loss. Read

Please call us today if you have any additional questions.

Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

Download our 5 Fastest Ways to Stop Foreclosure Booklet - Download Here   

Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com

Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake  or Osceola County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 or email at jerry@JerryLaRose.com to find out more about Orange County Short Sales and Orlando Area Short Sales.

 ************************************************************************************** 

Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

 Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

 Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com  

 Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake, Osceola and Brevard County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent and realtor who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

We also have now expanded to help homeowners to Stop Foreclosure in Brevard County Florida. Servicing Melbourne, Coco, Coco Beach, Satellite Beach, Palm Bay, Indian Harbour Beach, South Patrick Shores, Palm Shores, Rockledge, Cocoa West, Merritt Island, Port Saint John and Titusville Florida

 Call us at 407-580-7011 or email at jerry@JerryLaRose.com  to find out more about Orange County Short Sales and Orlando Area Short Sales.

Orlando Short Sales, expert, specialist, Realtor, Keller Williams Realty, agent, broker, short sale, stop foreclosure

Jerry LaRose, P.A., ABR, GRI, e-PRO, CLHMS, REALTOR® 407-580-7011

The overall median sales price of existing homes in Orlando, Florida, was $115,000 in November, up 9.52 percent from a year earlier. The Orlando Regional Realtor Association (ORRA) attributes the gain to an increase in short sales, which are now changing hands with smaller discounts.

The number of short sale transactions in November 2011 jumped 39.38 percent compared to November 2010, and the median price of short sales improved by 7.07 percent, from $99,000 to $106,000, according to the local Realtor group.

“The increase in completed short-sales transactions is heartening,” said Mike McGraw, ORRA chairman.

According to McGraw, short sales currently make up 73 percent of homes under contract and pending closing.

“The very tight current lending conditions plus under-value appraisals are still causing both enormous slowdowns and outright contract cancellations among short sales,” McGraw commented. “The sooner these short sales are processed through the system, the better it will be for the normal home market.”

Regardless, McGraw says “an improved median sales price in any category is good for homeowners and home sellers, but it also means that buyers are going to encounter proportionally higher asking prices.”

Since January of this year, Orlando’s overall median price has increased by 21.18 percent.

The median price of non-distressed homes closing in November was $148,000, a decrease of 7.50 percent from November 2010, according to ORRA. The trade group says non-distressed home sales accounted for 40 percent of all transactions during the month.

The median price for REOs sold during the same period was $81,999, up 4.12 percent from a year earlier. Bank-owned properties made up 23 percent of all sales.

ORRA reports that homes of all types spent an average of 99 days on the market before coming under contract in November 2011, and the average home sold for 94.74 percent of its listing price. In November 2010 those numbers were 96 days and 94.13 percent.

Overall inventory is down 33.28 percent compared to November 2010. ORRA says at the current pace of sales, there is a 5.20-month supply of homes in Orlando’s inventory.

************************************************************************************** 

Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com

Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake, Osceola and Brevard County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent and realtor who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

We also have now expanded to help homeowners to Stop Foreclosure in Brevard County Florida. Servicing Melbourne, Coco, Coco Beach, Satellite Beach, Palm Bay, Indian Harbour Beach, South Patrick Shores, Palm Shores, Rockledge, Cocoa West, Merritt Island, Port Saint John and Titusville Florida

Call us at 407-580-7011 or email at jerry@JerryLaRose.com  to find out more about Orange County Short Sales and Orlando Area Short Sales.

Orlando Short Sales, expert, specialist, Realtor, Keller Williams Realty, agent, broker, short sale, stop foreclosure

Freddie Mac vendors sold fewer REO properties in the third quarter than they did earlier in the year as nonperforming loans continue to climb.

More than 25,300 repossessed homes held by Freddie Mac sold in the third quarter, down 13.5% from the nearly 30,000 in the previous three months. It was also a 17% decline from the record-setting 31,600 sold in the first quarter.

At the same time Freddie unloaded the 25,300 REO, it repossessed another 24,300 homes back into the inventory. At the end of the quarter, Freddie held 60,000 REO on its books, which has been trimmed — as new foreclosures are completed — from 75,000 one year ago.

If the current trend holds, and the GSE reduces a net 1,000 REO from its inventory every quarter, it would take 60 quarters to unload its entire inventory — roughly 15 years.

And that’s with a severely constricted foreclosure pipeline due to recent servicing problems and new regulations. As it opens up, the market will be asked to absorb even more REO sales just to remain on that current trend.

“The pace of REO acquisitions remained slow in 3Q 2011 due to continued delays in the foreclosure process for single-family mortgages,” Freddie said. “We expect these delays will likely continue into 2012. However, we expect our REO inventory to remain at elevated levels.”

Meanwhile, nonperforming assets continue to mount. These troubled mortgages totaled $127.9 billion, or 6.6% of its total mortgage portfolio, in the third quarter. That’s up 3.2% from the previous quarter.

To help manage the still mounting problem holding back housing and as an extension the overall economy, the Obama administration and the Federal Housing Finance Agency began asking market participants for ideas on selling these properties in bulk and even possibly renting them.

Before a House subcommittee Thursday, FHFA Acting Director Edward DeMarco reiterated that such a strategy will not be implemented nationwide but on a local level.

“We are not looking to develop a single, national program for REO disposition. We are most interested in proposals tailored to the needs and economic conditions of local communities,” DeMarco said. “We received nearly 4,000 responses to the RFI and are reviewing the submissions.”

************************************************************************************** 

Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com

Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake, Osceola and Brevard County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent and realtor who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

We also have now expanded to help homeowners to Stop Foreclosure in Brevard County Florida. Servicing Melbourne, Coco, Coco Beach, Satellite Beach, Palm Bay, Indian Harbour Beach, South Patrick Shores, Palm Shores, Rockledge, Cocoa West, Merritt Island, Port Saint John and Titusville Florida

Call us at 407-580-7011 or email at jerry@JerryLaRose.com  to find out more about Orange County Short Sales and Orlando Area Short Sales.

Orlando Short Sales, expert, specialist, Realtor, Keller Williams Realty, agent, broker, short sale, stop foreclosure

The National Association of Home Builder’s Bob Nielsen weighed in on the recent announcement by the FHA to make some new changes to the Home Affordable Refinance Program (HARP). He said that “making more borrowers eligible for refinancing their mortgages by enhancing the Home Affordable Refinance Program (HARP) will give a badly needed boost to consumer confidence. Enabling additional home owners to take advantage of today’s low mortgage interest rates in cases where their loans are greater than the value of their homes will give some households more money to spend on other things and enable others to at least pay their mortgages off at a faster rate.”

According to the Chicago Sun Times, “Fannie Mae and Freddie Mac have helped approximately 9 million families refinance into a lower cost or more sustainable mortgage product, approximately 10 percent of those via HARP.” An estimated 1,000,000 additional homeowners may be helped by these new changes.

Some pundits have argued that the timing of these changes are simply a political strategy by the Obama administration, citing that just because a bank can refinance doesn’t mean they will be willing to take on a homeowners who might be as much as much as 150 percent upside down in their homes. Simply removing the current loan-to-value ceiling (125%) may not have much affect, they say.

Bob Nielsen, chairman of the NAHB, knows that many families have a hard road ahead because of current lending burdens. “It is essential to address overly restrictive mortgage lending standards, inappropriate credit limitations on home builders and a broken appraisal system that is contributing to housing price instability,” he says. “All of these factors are detrimental to the full-scale housing recovery we need to rally consumers and get a disappointing economic recovery moving forward.”

The road is even harder for families delinquent on payments, since these new HARP changes apply to borrowers still current on payments.

Filings rose 1 percent over last quarter and now account for one in every 213 housing units.

“U.S. foreclosure activity has been mired down since October of last year, when the robo-signing controversy sparked a flurry of investigations into lender foreclosure procedures and paperwork,” said James Saccacio, chief executive officer of RealtyTrac. “While foreclosure activity in September and the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up.”

The new homes market has finally seen some good news. The Commerce Department reports that new home sales were up 5.7 percent in September. This news is tempered, however, by the reality that sales of new homes are near historic lows — bad news for builders and the large number of unemployed construction workers. New home sales this year are at a 50-year historic low rate. The previous records were set in 2010 and 2009. Before that low rates were seen in 1982.

According to the NAHB, “While the monthly increase shows some promise ahead for the new home market, the levels remain near record lows as buyers continue to be concerned about their own economic future and as difficulties in credit qualification and appraisals retard those who are in the market. At best, this is a promising prelude to improvement in 2012.”

As we know, housing isn’t just about homeownership. There are millions of Americans today that seek our rental units as their home base. The Census Bureau has recently revealed that a large number of American renters are “severely rent-burdened”. This means that 19.4 million renting households pay more than 30 percent of their total income on rent. And 25 percent pay more than 50 percent of their income on rent.

************************************************************************************** 

Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com

Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake, Osceola and Brevard County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent and realtor who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

We also have now expanded to help homeowners to Stop Foreclosure in Brevard County Florida. Servicing Melbourne, Coco, Coco Beach, Satellite Beach, Palm Bay, Indian Harbour Beach, South Patrick Shores, Palm Shores, Rockledge, Cocoa West, Merritt Island, Port Saint John and Titusville Florida

Call us at 407-580-7011 or email at jerry@JerryLaRose.com  to find out more about Orange County Short Sales and Orlando Area Short Sales.

Orlando Short Sales, expert, specialist, Realtor, Keller Williams Realty, agent, broker, short sale, stop foreclosure

Since 2007, the Mortgage Debt Relief Act has allowed owners selling their homes through a short sale to do so without having to pay tax on the amount their mortgage holders forgave them.

The tax change means that if a house is sold for $75,000 less than what’s owed on the mortgage, the seller would owe federal income taxes on that amount. If the seller is in the 15% tax bracket, they would owe the IRS $11,250.  Some real estate analysts think doing away with the tax incentive will sabotage the government’s efforts to gradually move people out of homes they can no longer afford.  That will end in 2013, giving homeowners until the end of this year to get out from under their debt without facing tax consequences.  Tim Becker, director of the University of Florida’s Bergstrom Center for Real Estate, said the tax change may force some owners to walk away from their homes outright.  Letting the tax exemption expire doesn’t make sense and runs contrary to the government’s attempts to bring some financial stability to the housing market, Becker said.

************************************************************************************** 

Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com

Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake, Osceola and Brevard County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent and realtor who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

We also have now expanded to help homeowners to Stop Foreclosure in Brevard County Florida. Servicing Melbourne, Coco, Coco Beach, Satellite Beach, Palm Bay, Indian Harbour Beach, South Patrick Shores, Palm Shores, Rockledge, Cocoa West, Merritt Island, Port Saint John and Titusville Florida

Call us at 407-580-7011 or email at jerry@JerryLaRose.com  to find out more about Orange County Short Sales and Orlando Area Short Sales.

Orlando Short Sales, expert, specialist, Realtor, Keller Williams Realty, agent, broker, short sale, stop foreclosure

You may owe federal income taxes in 2013 if you have a short sale, foreclosure after this year. Now is the time to make the hard decision: Are you going to walk away from your underwater home?

Uncle Sam is still giving homeowners until Dec. 31, 2012, to go through a short sale or foreclosure without tax consequences – as long as the lender officially releases the debt.

But on Jan. 1, 2013, the rules change: The amount a lender forgives, ether in a short sale or foreclosure, on a primary residence will be taxable on federal income taxes.

So if a house sold $50,000 short of what is owed on the mortgage, then the selling homeowners will owe federal income taxes on that $50,000. Homeowners would owe $12,500 if they’re in the 25 percent bracket; $7,500 if in the 15 percent tax section.

Homeowners would be on the hook even if the house sold but the bank had not formally forgiven the loan in a letter: The banks must officially sign off in writing before Dec. 31.

“It’s a huge issue – it will be a shock to many taxpayers after 2012,” said Mark Steber, the Florida-based chief tax officer for Jackson Hewitt Tax Service.

The law first came into affect five years ago as the housing market went bust nationwide.

The Mortgage Debt Relief Act of 2007 “generally allows taxpayers to exclude income from the discharge of debt on their principal residence,” according to the Internal Revenue Service. “Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.”

Up to $2 million of forgiven debt can be forgiven this year, $1 million if married and filing separately, according to the IRS.

Homeowners declaring bankruptcy could escape paying income taxes on any cancellation of debt income if the debt is forgiven in the bankruptcy even if the debtor is solvent, said Nick Jovanovich, a board-certified tax attorney in Fort Lauderdale, Fla.

“Bankruptcy trumps everything,” he said.

Or homeowners might not have to pay income taxes on any cancellation of debt income to the extent that they are insolvent immediately before the cancellation – that is, their debts exceed the value of their assets, Jovanovich added.

Steber and Jovanovich said homeowners should decide now what they are going to do – to give themselves time.

Short sales can take a long time. But lenders “have been gearing up” and speeding up the process.

But even if banks quickly approve a short sale, the would-be buyer may get cold feet and the deal fall through.

Then the sellers have to begin again.

************************************************************************************** 

Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com

Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake, Osceola and Brevard County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent and realtor who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

We also have now expanded to help homeowners to Stop Foreclosure in Brevard County Florida. Servicing Melbourne, Coco, Coco Beach, Satellite Beach, Palm Bay, Indian Harbour Beach, South Patrick Shores, Palm Shores, Rockledge, Cocoa West, Merritt Island, Port Saint John and Titusville Florida

Call us at 407-580-7011 or email at jerry@JerryLaRose.com  to find out more about Orange County Short Sales and Orlando Area Short Sales.

Orlando Short Sales, expert, specialist, Realtor, Keller Williams Realty, agent, broker, short sale, stop foreclosure

Freddie Mac has announced that it is giving mortgage servicers expanded authority to provide six months of forbearance to unemployed borrowers without Freddie Mac’s prior approval and up to an additional six months with prior approval. This means unemployed borrowers may be eligible for up to 12 months of forbearance. Freddie Mac’s forbearance options are being expanded at the direction of its conservator, the Federal Housing Finance Agency (FHFA), and will take effect on Feb. 1, 2012. According to the latest statistics, nearly 10 percent of delinquencies on Freddie Mac mortgages were tied to unemployment.

“These expanded forbearance periods will provide families facing prolonged periods of unemployment with a greater measure of security by giving them more time to find new employment and resolve their delinquencies,” said Tracy Mooney, SVP of single-family servicing and REO for Freddie Mac. “We believe this will put more families back on track to successful long-term homeownership.”

Delinquent borrowers in an existing short-term forbearance plan can be evaluated for an extended forbearance under Freddie Mac’s new policy. Previously, Freddie Mac allowed servicers to grant up to three months of forbearance with no payment and without prior approval, or six months at a reduced payment with prior approval. Longer forbearance required prior approval and was generally restricted to events such as natural disasters, permanent disability or long-term medical emergencies.

************************************************************************************** 

Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com

Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake, Osceola and Brevard County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent and realtor who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

We also have now expanded to help homeowners to Stop Foreclosure in Brevard County Florida. Servicing Melbourne, Coco, Coco Beach, Satellite Beach, Palm Bay, Indian Harbour Beach, South Patrick Shores, Palm Shores, Rockledge, Cocoa West, Merritt Island, Port Saint John and Titusville Florida

Call us at 407-580-7011 or email at jerry@JerryLaRose.com  to find out more about Orange County Short Sales and Orlando Area Short Sales.

Orlando Short Sales, expert, specialist, Realtor, Keller Williams Realty, agent, broker, short sale, stop foreclosure

According to Fiserv, a financial analytics company, home values are expected to fall another 3.6% by next June, pushing them to a new low of 35% below the peak reached in early 2006 and marking a triple dip in prices.  Several factors will be working against the housing market in the upcoming months, including an increase in foreclosure activity and sustained high unemployment, explained David Stiff, Fiserv’s chief economist.

Should home values meet Fiserv’s expectations, it would make it the third (and lowest) trough for home prices since the housing bubble burst.  The first post-bubble bottom was hit in 2009, when prices fell to 31% below peak. The First-Time Homebuyer Credit helped perk prices up by mid-2010, but by the time the credit expired, prices fell again.  In the second dip, which was reached last winter, prices were down 33% before staging a mild rally that was artificially spurred as banks slowed the processing of foreclosures following the robo-signing scandal, which found that loan servicers were rapidly signing foreclosures without properly vetting them.  Now that the scandal is mostly resolved, lenders are speeding more cases through the foreclosure pipeline and back onto the market, weighing on home prices even further.

Many of the regions that will be hardest hit were already beaten up during the previous two dips.  Naples, Fla., for example, is expected to take the biggest hit of any metro area, a price drop of another 18.9% by the end of  June, according to Fiserv.

Home prices in the area have already fallen 61% from the peak.

Other cities expected to be hit hard include the not-so-lucky Las Vegas, which is expected to see home prices fall another 15.9% for a total loss of 66%; Riverside, Calif., is projected to fall another 14.8% (for a total decline of 61%); Miami is expected to decline by 13.2% (total loss: 57%), and Salinas, Calif. could drop by another 13% (for a total loss of 66%).  There will be some winners, however, led by Madera, Calif. and Carson City, Nev., which will each gain 15.5%. That’s some consolation for hard-hit residents: The average home in each of these metro areas has lost more than half its value.  Other metro areas Fiserv expects to recover nicely are Yuma, Ariz. (up 9.5%), Yuba City, Calif. (9.2%) and Farmington, N.M. (8.3%).  Many of the markets that will record the biggest increases are vacation or retirement communities that had taken some of the biggest hits during the bust.

The biggest “winner” will be Ocala, Fla., with a 22.4% spike for the 12 months ending June 30, 2013. Ocala was one of the hardest hit communities in the US over the past several years, with home prices falling some 50%.  Others anticipated gainers will be Napa, Calif., which Fiserv projects will improve by 20.9% over that same period; Panama City, Fla. (an estimated 18.2% jump) and Bremerton, Wash. and Carson City, Nev. (both expected to see home prices climb 17.9%).  Some cities will continue to fade, however.

Fort Lauderdale, Fla.’s forecast is for a 9.2% drop through  June and another 6.7% the 12 months after that. Its neighbor, Miami, will endure 13.5% and 5.2% declines, respectively.

************************************************************************************** 

Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com

Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake, Osceola and Brevard County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent and realtor who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

We also have now expanded to help homeowners to Stop Foreclosure in Brevard County Florida. Servicing Melbourne, Coco, Coco Beach, Satellite Beach, Palm Bay, Indian Harbour Beach, South Patrick Shores, Palm Shores, Rockledge, Cocoa West, Merritt Island, Port Saint John and Titusville Florida

Call us at 407-580-7011 or email at jerry@JerryLaRose.com  to find out more about Orange County Short Sales and Orlando Area Short Sales.

Orlando Short Sales, expert, specialist, Realtor, Keller Williams Realty, agent, broker, short sale, stop foreclosure

The housing market faces several more years with 800,000 to 1 million new foreclosed properties per year, according to Rick Sharga, an executive vice president with Carrington Mortgage Services.  Sharga recently left RealtyTrac, where he helped build a network that tracked foreclosure filings across the country.

Recently, analysts at Bank of America & Merill Lynch estimated REO sales would peak until 2013 when nearly 1.5 million properties would be sold.  According to RealtyTrac, there have been 8.9 million homes lost to foreclosure since 2007, the height of the credit crisis.  Sharga said based on lender behavior, he doesn’t see a spike happening, rather a slow, steady burn in order to spare home prices from further reductions.

Today, roughly 4 million homes sell per year. If 1.5 million REO sold, that would be almost 40% of the market, which would be double the current market share of these properties.  “I think it’s less likely that we’re going to see a ‘peak’ year in REO sales that looks dramatically different than what we’ve been seeing over the past few years. This is partly due to relatively weak demand, partly due to what I’d call ‘inventory control’ being executed by the lenders and servicers, and partly due to the fact that foreclosure processing, evictions and redemption periods have all become extended, and often appear to be in a state of flux,”

The largest delay came when servicers were found to be improperly foreclosing on homeowners last year. RealtyTrac said the delays, investigations and ongoing attorneys general settlement talks pushed more than 1 million foreclosures that were supposed to occur in 2011 to 2012.  According to Lender Processing Services, mortgages facing foreclosure are delinquent an average of 611 days.

Once a foreclosure is initiated it can take as long as 400 days to complete. So,  a loan entering foreclosure in December 2011 won’t hit the market as an REO until January or February 2013.  Sales volume will be high in 2012, 2013 and probably 2014 as well, But it still seems more probable that we’ll see consistently high – yet closely managed – numbers of these sales over several years than it is that we’ll see a huge spike followed by a precipitous drop.”

************************************************************************************** 

Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com

Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake, Osceola and Brevard County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent and realtor who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

We also have now expanded to help homeowners to Stop Foreclosure in Brevard County Florida. Servicing Melbourne, Coco, Coco Beach, Satellite Beach, Palm Bay, Indian Harbour Beach, South Patrick Shores, Palm Shores, Rockledge, Cocoa West, Merritt Island, Port Saint John and Titusville Florida

Call us at 407-580-7011 or email at jerry@JerryLaRose.com  to find out more about Orange County Short Sales and Orlando Area Short Sales.

Orlando Short Sales, expert, specialist, Realtor, Keller Williams Realty, agent, broker, short sale, stop foreclosure

Waiver for 90-day resales extended through 2012

For the second year in a row, the Federal Housing Administration is extending a temporary waiver of its “anti-flipping” rule, meaning homebuyers relying on FHA-insured financing will continue to be able to buy homes that have changed hands in the last 90 days.

The waiver is a boon for investors seeking to rehab and flip properties, because it expands the pool of eligible borrowers to include those relying on FHA-backed loans, popular with first-time homebuyers and others who lack the cash to make large down payments.

In extending the waiver through 2012, FHA said all transactions must continue to be arms-length. In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will apply only if the lender can document the justification for the increase in value, FHA said.

FHA instituted the anti-flipping rule in 2003 to protect its mutual mortgage insurance program from losses on homes that were merely flipped, rather than rehabbed. Homes repossessed by Fannie Mae, Freddie Mac, and state- and federally chartered financial institutions were exempt from the rule.

In February 2010, the Obama administration waived the waiting period for resales — including homes purchased and rehabbed by private investors — in the hopes of stabilizing home prices and revitalizing communities hit by foreclosures.

It often takes less than 90 days to acquire, rehabilitate and sell properties, the Department of Housing and Urban Development said at the time. Some sellers of rehabbed properties had been reluctant to enter into contracts with FHA buyers because of the cost of holding a property for 90 days, HUD said

In extending the waiver through 2011, FHA said it insured 21,000 90-day property flip loans worth more than $3.6 billion in 2010 that would otherwise not have qualified for financing.

That number has since grown to nearly 42,000 mortgages worth more than $7 billion on properties resold within 90 days of acquisition.

************************************************************************************** 

Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

 Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

 Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com  

 Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake, Osceola and Brevard County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent and realtor who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

We also have now expanded to help homeowners to Stop Foreclosure in Brevard County Florida. Servicing Melbourne, Coco, Coco Beach, Satellite Beach, Palm Bay, Indian Harbour Beach, South Patrick Shores, Palm Shores, Rockledge, Cocoa West, Merritt Island, Port Saint John and Titusville Florida

 Call us at 407-580-7011 or email at jerry@JerryLaRose.com  to find out more about Orange County Short Sales and Orlando Area Short Sales.

Orlando Short Sales, expert, specialist, Realtor, Keller Williams Realty, agent, broker, short sale, stop foreclosure

Dear parents and grandparents,

Call 951-262-3062 and have your children or grandchildren hear Santa’s voice wishing them a Merry Christmas. (Long distance charges may apply.)

When your child dials in, he/she will first hear Santa welcoming them to his personal hotline, then saying how he has been busy making all those toys and reminding them that their family loves them, and that he does, too.

Santa closes the call asking the children to remember to listen to their parents and asking them to leave their Christmas gift wishes and holiday cheer on his voicemail.

Your child can actually leave Santa a message.

It’s pretty sweet. Hope you enjoy it!

That number is 951-262-3062, and it’s free if you call from a phone that doesn’t incur long-distance charges.

Again, Merry Christmas and Happy Holidays from all the elves at  http://www.OrlandoShortSaleExpert.com

************************************************************************************** 

Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com

Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake, Osceola and Brevard County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent and realtor who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

We also have now expanded to help homeowners to Stop Foreclosure in Brevard County Florida. Servicing Melbourne, Coco, Coco Beach, Satellite Beach, Palm Bay, Indian Harbour Beach, South Patrick Shores, Palm Shores, Rockledge, Cocoa West, Merritt Island, Port Saint John and Titusville Florida

Call us at 407-580-7011 or email at jerry@JerryLaRose.com  to find out more about Orange County Short Sales and Orlando Area Short Sales.

Orlando Short Sales, expert, specialist, Realtor, Keller Williams Realty, agent, broker, short sale, stop foreclosure