Maryland short sale approval success story: $85K Forgiven (discounted) by IndyMac Mortgage Services (OneWest Bank) in 45 days!

Posted by Owen McGab Enaohwo on Jul 31, 2010 | View Comments

My reason for doing this:

When a homeowner finally decides that he/she wants to sell their property via a Short Sale, they know that they only have a limited amount of time before the foreclosure and they need to be rest assured that the agent they are about to hire has the necessary experience to get the job done. This is the reason why I now write blog posts about my successes with Short Sales with various lenders. I pinch myself now because I wish I have started doing this a long time ago (enough with the rant – now to gist of this deal).

The background story:

Just this past April, I got a call from Patrick; a friend of the seller, Peace A. (my client and seller of this short sale). He explained to me that he had seen one of my blog posts online on short sales and he felt that I would be the best person to help Peace. After I explained my process to him, he referred me over to the seller whom I called immediately and took the time to explain how a short sale would help her avoid foreclosure. To cut a long story short I met with her and her friend at the property, signed up the listing and got to work. This short sale was different because she was going to be out of the country while I was negotiating with her lender and trying to get her property sold. Well, I took up the challenge and got the ball rolling!

 Testimonial from Peace A. [3:34m]: Play Now | Play in Popup | Download

Maryland short sale approval success story: $91K Forgiven (discounted) by American Home Mortgage Servicing

Posted by Owen McGab Enaohwo on May 31, 2010 | View Comments

My reason for doing this:

I have decided from now on to start blogging about my success with short sales so that you can see for yourself the prove that once you hire me as your real estate agent; I will get the job done, you will get to avoid foreclosure and get the peace of mind that you deserve (enough with the self praise – now to details on this deal).

The background story:

Last December, I got a call Michael Y. (my client and seller of this short sale), he said he had seen a blog post online about short sales that I had written and needed some more explanation. Excited, I gladly took the time to answer all his questions over the phone and then set up a meeting with him several days later to sign the listing agreement. The listing appointment with him was great, when it was over I prepared to do battle with his lender, but first I had to get the property listed.

 Testimonial from Michael Y. A successful short sale client in Maryland - Kind words from someone I helped avoid foreclosure [1:24m]: Play Now | Play in Popup | Download

Townhouse For Sale Bowie Maryland Short Sale 11201 Westport Dr Home

Posted by Owen McGab Enaohwo on Apr 29, 2010 | View Comments

This is an announcement for a Townhouse I have listed For Sale in Bowie MD 20720 – Short Sale:

Submit AS IS offers for this Well maintained end unit townhouse, 3 Br / 2 Ba on main level. Its a beautiful home, Hard wood floors, and finished basement with wall to wall carpet and additional rooms.

Should Homeowners strategically default on their mortgage payments?

Posted by Owen McGab Enaohwo on Apr 9, 2010 | View Comments

I know the title got your attention but before you pass judgment, I suggest you read the entire blog post and then tell me what you think by leaving a comment.

Why do you want to strategically default?

A few years ago, you applied for a mortgage to buy a home for your family to live in and have a roof over their heads. It was meant to be an investment, a means for you to increase your total net worth and move up to the next level in life. You were so glad the bank approved your loan that immediately after buying the house, your family moved in and you began to live the American Dream of Home Ownership or so you thought. Not too long after that the dream became a nightmare; the economy began to tank, you had problems with your job and you bills started piling up. You started having a hard time keeping up with your mortgage payments. Even then, you kept on paying your mortgage.

The HAFA Guidelines for Maryland Homeowners who need a Short Sale in order to Avoid Foreclosure

Posted by Owen McGab Enaohwo on Apr 2, 2010 | View Comments

In a nutshell, the Home Affordable Foreclosure Alternatives (HAFA) Program which kicks off on April 5th, 2010 is for those homeowners who have decided that “enough is enough” and have chosen to take control of their situation by getting their property sold by a Real Estate Agent by means of a Short Sale. Please read my previous blog post titled “Take a dose of the Short Sale pill from your local Realtor to relieve your Mortgage payment Headaches” to get an idea what a “Short Sale” is all about.

In that post, I stated that the “short” in a short sale transaction means that the property in question ends up selling for less than what the borrower actually owed their lender. Up till now, it did not mean that the transaction will be a quick or fast sale. In fact, the short sale process usually takes a lot of time to negotiate successfully and – can become frustrating to many homeowners as well as their Real Estate Agents.