5 Things To Do Before You Sell Your Home

Putting your home on the market isn’t as simple as placing a FOR SALE sign in your yard. There are several steps to take prior to listing your home that will make the transaction smoother and quicker.

One. Hire a real estate agent.

It may be tempting to list your home on your own to avoid paying a sales commission, but selling your home is a full-time job itself. A real estate professional represents the best opportunity to earn the maximum amount from your home’s sale. An agent will recommend the best listing price, market your home effectively and show your home to buyers. An agent also recognizes what buyers are looking for in a new home.

Two. Get your home inspected.

You are required to disclose any problems with your property to prospective buyers. Failure to do so will lead to further complications, even if you weren’t aware of the flaws ahead of time. Hire a professional inspector to identify and document any problems with your property. Also, make sure your home has a clean bill of health from termites.

Three. Make repairs ahead of time.

A long list of necessary repairs is a manor put-off for most buyers, who may decide to move on rather than deal with the headache of fixing up the home. Do as many repairs yourself as possible, then hire a contractor to complete the rest. If you decide to make major repairs beforehand, hire a reputable professional to provide cost estimates that you can show to any interested buyers to put their minds at ease.

Four. Showcase your home.

Curb appeal and first impressions are valuable assets when selling your home. Clear unnecessary items from your yard and maintain the landscape to welcome visitors. Keep the interior of your home clutter-free to maximize your home’s livable space.

Five. Price it right.

The original asking price of your home has a huge impact on the ultimate sales price. If you price it too high, buyers will look for better values and your home will remain on the market longer. The longer your home is on the market, the less desirable it becomes to buyers – even if you eventually lower your asking price – because most buyers will avoid a home that others are avoiding. Conversely, pricing your home too low may result in a quicker transaction but will yield you less money in the end.

Cynthia Schmier
360-400-3475
www.Cynthia-Online.com

Major Changes Announced for HAFA!

Major news in the short sale and housing industry! On Friday, March 9, the Obama Administration announced updates to the Home Affordable Foreclosure Alternative (HAFA) program. Created in 2009, HAFA is a government-sponsored initiative assisting all Home Affordable Modification Program (HAMP) eligible homeowners in avoiding foreclosure through short sales and deed-in-lieus.
The HAFA updates will allow more distressed homeowners to seek assistance. Most importantly, the deadline for submitting for HAFA eligibility has been extended a full year, from December 31, 2012, to December 31, 2013.
Other major changes from March’s updates to the HAFA program include:

• The removal of occupancy requirements. Previously, HAFA required homeowners to have lived in the property within the last 12 months.

• $3,000 relocation incentives are now limited to properties occupied by an owner or tenant at the time of the short sale.

• Mortgage payments may now be allowed to exceed 31% of the homeowner’s gross monthly income. This update will allow a homeowner to stay current on her mortgage and still qualify, minimizing the overall impact to her credit.

• Secondary lienholders may now receive up to a maximum of $8,500, up from $6,000 previously.

• And one of the most dramatic changes: The Credit Bureau Reporting will now be Account Status Code 13 (paid or closed account/zero balance) or 65 (account paid in full/a foreclosure was started), as applicable.

So now a homeowner can be current on their mortgage, qualify for HAFA, continue to make their payments, and execute a short sale with minimum impact on their credit!

Cynthia Schmier
cynthia@cynthia-online.com
(360) 400-3475

Is Your Mortgage Out of Balance with your Budget?

It can happen quickly.

An expensive car repair, an unexpected hospital visit, a missed week of work – just a few little things and the life you’ve worked so hard to build can feel like it’s tipping dangerously out of balance.

Once the scales turn against you, it can feel like it is impossible to ever tip them back in your favor again. When your financial problems reach the point where they threaten your home, it is difficult to manage the stress. Sometimes it is even difficult to force yourself to seek help.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide financially-challenged homeowners with options to foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.

Choose to face the challenge with a professional on your side.

I can help you realign the balance in your financial life and tip the scales back in your favor. Call or email me and schedule your free, confidential consultation. We can work together to make sure you end up ahead.

Cynthia Schmier

360-400-3475

cynthia@cynthia-online.com

What Is Your Plan?

Avoid Honest Mistakes – Beneficiary Designations Must be Up-to-Date

Retirement plans, annuity contracts and life insurance policies acquired through an employer or owned individually usually have specific named beneficiaries that supersede any instructions in a will. These assets convey directly to heirs, and are not subject to the time-consuming and potentially costly probate process.

A named beneficiary can be anyone you wish to inherit your assets – a relative, friend, trust, charity, university or another institution. You can also choose more than one primary beneficiary and specify the percentage of their assets that each will receive.

In addition, you may want to name secondary beneficiaries who would inherit only if something were to happen to the primary beneficiary before the benefit was actually paid.

Has your situation changed?

Financial institutions may be obligated to transfer your assets or pay insurance benefits to whomever you have named on the official designation forms, even if your situation has changed and there would seem to be an obvious mistake.

·       There have been unfortunate cases when an ex-spouse remained listed as a beneficiary, despite the fact that the account holder had long been remarried and fully intended for the current spouse to receive the funds.

·       Failing to add the latest-born child to the list of previously-named beneficiaries is another regrettable oversight. Also, grown children who previously named their parents frequently forget to make a change once they are married and have their own families.

Are your forms up-to-date?

It’s a good idea to check periodically and confirm that your intended beneficiaries are named correctly on all of your accounts and policies.

If you need to adjust your designations, you can often find the forms on your financial institution’s website, or simply call to request them. Make copies of all the beneficiary forms you have submitted and keep them with the rest of your estate planning documents.

Decisions concerning the naming of your beneficiaries should usually be made in light of your overall estate plan, so you may want to consult an estate-planning professional for advice. If you don’t already have someone you know and trust, feel free to contact your real estate agent who may be able to recommend a qualified individual who can help.

The Cynthia Schmier Team

(360) 894-1164

www.Cynthia-Online.com

Copyright: Buffini & Company. All Rights Reserved. Used by Permission.

Steer Clear of SCAMS!

During the toughest of times, there are always a few swindlers who emerge with shady schemes that serve to make a bad situation a lot worse. The current foreclosure crisis is certainly no exception.
Here are the Top Ten Warning Signs of a Mortgage Modification Scam:

1. “Pay us $1,000, and we’ll save your home.”
Some Legitimate housing counselors may charge small fees, but fees that amount to thousands of dollars are sign of potential fraud – especially if they are charged upfront.

2. “I guarantee I will save your home – trust me.”
Beware of guarantees. Unrealistic promises are a sign that the person making them has not considered your specific circumstances.

3. “Sign over your home, and we’ll let you stay in it.”
Be very suspicious if someone offers to pay your mortgage and rent your home back to you in exchange for transferring the title. Signing over the deed gives another person the power to evict you, raise your rent or sell the house.

4. “Stop paying your mortgage”
Do not trust anyone who tells you to stop making payments to your lender and servicer, even if that person says it will be done for you.

5. “If your lender calls, don’t talk to them.”
Your lender should be your first point of contact for negotiating a repayment plan, modification, or short sale.

6. “Your lender never had the legal authority to make a loan.”
Do not listen to anyone who claims that “secret laws” or “secret information” will be used to eliminate your debt and have your mortgage contract declared invalid.

7. “Sign this now; we’ll fill in the blanks later.”
Take the time to read and understand anything you sign. Never let anyone else fill out paperwork for you. Don’t let anyone pressure you into signing anything that you don’t agree with or understand.

8. “Call 1-800-Fed-Loan.”
Some companies trick borrowers into believing that they are affiliated with or are approved by the government or tell you that you must pay them high fees to qualify for government loan modification programs.

9. “File for bankruptcy and keep your home.”
Filing bankruptcy only temporarily stops foreclosure. If your mortgage payments are not made, the bankruptcy court will eventually allow your lender to foreclose on your home…

10. “Why haven’t you replied to our offer? Do you want to live on the streets?”
High-pressure tactics signal trouble.
Your best bet for making sure that scam artists don’t end up with your shirt as well as your house: Contact a Certified Distressed Property Expert. CDPE agents are tapped into scams as they emerge and committed to keeping clients connected to legitimate solutions.

Cynthia Schmier
RE/MAX Country
206 Yelm Ave W, Yelm, WA 98597
360-400-3475
ShortSalesYelm.com
Disclaimer: The above brokerage assumes no responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law nor gives legal advice. It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner.

Are you living under the cloud of an UNMANAGEABLE MORTGAGE?

It’s a sign of the times!

Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled. 

But upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll.  Since 2007, 7.9 million homeowners have lost their homes to foreclosure. Current estimates are that one in four homeowners owe more on their mortgages than they could get from the sale of their home. Millions more homes will be lost to foreclosure before this real estate crisis runs its course.

The sad fact is that foreclosure is not an isolated event. For months leading up to the loss of a home, financially strapped homeowners live under a cloud of uncertainty.  And then for many years afterwards, the blow to credit gets in the way of buying another home or buying anything on credit. Foreclosure even complicates employment prospects.

The impact of foreclosure is huge and the sad fact is that it’s often avoidable.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide financially strapped homeowners with options to foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.

Among the most important facts to keep in mind: the sooner help is sought, the better the options.

These are tough times, but more help is available than ever before. If you or someone you care about is ready to navigate away from the dark cloud of an unmanageable mortgage and realize that hope and blue skies are within reach, contact me today and let’s get started.

Cynthia Schmier
(360) 400-3475
cynthia@cynthia-online.com

Freddie Mac! Helpful Announcement

Helpful information for Freddie Mac loan holders.




*http://youtu.be/CYDGuTQJ-yc