Brick/Vinyl exterior Ranch located in Fairview 1 Addition w/street lights, mature trees, LG lot, U-shape Dr.  Replacement windows in front of home in last 2 years. New Roof 1/2010 & newer EXT doors/garage door, hardwood floors in bedrooms. All new carpet in LR/DN RM, hallway, vinyl in baths/kitchen.  New oak cabinets w/raised panels in kitchen.  New Gas range, microhood, dishwasher. Refrigerator stays. Unfinished basement/2 car garage w/bonus room.  Plumbing 7/07, Kit sink 1/2010. Workbench in garage stays.  Gas light out front.

Unit A - efficiency w/LR/BR is not leased.  Leases for $330 a MO.  Unit B is leased for $400 w/LR, Kitchen/BR, 1 BA. Access to cellar type basement through Unit B. Unit C is upstairs w/LR 12x11, BR 12x10, Kitchen 13x11, Full BA.  Electrical/seperately metered all new in 2001., electric baseboard heat, vinyl windows new 2001, Plumbing all new including water heater in 2001. Telephone/cable TV wiring. All stoves/refrigerators remain. Tenant pays for electric, Landlord pays water.  On street /rear parking.

Totally remodelled..Tastefully decorated..move in condition, Kit w/oak CAB, center island w/sink, side/side pantry, full BA off kit w/tub/shower, white painted woodwork, LG foyer opens into an open concept LR/DN w/laminate flooring.  LG Laundry RM on main level, 2 BR upstairs w/berber carpeting, Full BA w/tub/shower upstairs w/single vanity, covered concrete front porch, LG 2 car detached garage, full fenced back yard, covered side porch WD deck + rear wood deck, appliances negotiable.

Enjoy country living in this Brick/Vinyl exteriorhome located on 1.5 A wooded lot....Nice 3 BR , 2.5 BA, Kitchen/family room combo. Kitchen with breakfast bar, center island, living room, formal dining room, master BR w/master BA, pole barn.

Total electric, 2 Bedroom, 1 Bath home with  2 car detached garage.

Brand New Construction Home.  Beautiful layout 4 bedroom 2.5 bath home ready for the growing family.  Master bath features travertine tile, walk in shower.  Ceramic tile in main level bath, stainless steel dishwasher and range vent hood.  Metal roof, brand new A/C and forced air furnace.  Must see.

Enjoy sunrise/sunset moments from covered front/back porches in this custom built 4/5 BR home sitting on 13+ wooded acres w/creek/waterfall, full finished basement, lots of ceramic tile, kit/dining combo, 2 full BA, attic 2 car finished garage.  Wildlife galore, hunter's dream, stocked pond, 30x40 pole building w/electric and concrete floor & 2 overhead 10' doors.

Nice wooded lot for a single family residence.  Facilities are near such as water/sewer and electric subject to fee.  Availability fee on vacant lots for water/sewer  $24 two x's year. 

Nice wooded lot for a single family residence.  Facilities are near such as water/sewer and electric subject to fee.  Availability fee on vacant lots for water/sewer $24 two x's year.

Nicely maintained 3 BR 1.5 BA home.  New updates last 5-6 yrs to incl OAK KIT CAB,EXT DRS, carpet in FMR/hallway,BRS; vinyl in both BA, shower stall, corner mirror,granite top,pedestal sink, toilets. Faucets in kit/BA., baseboard heaters, windows/vinyl siding. Lam fl in LR 3 yrs. ago. 2nd BR has new baseboard heater Dec '09., vyl tile in kit 12/2008, Ceramic tiled front porch. Off street parking.  Immaculate inside. 12 mo avg electric is $156 and 12 mo avg water is $42 as of 12/15/09.

A short sale may be the best solution after you have tried the other options available to ease your financial crunch.  Seeking advice, from your lender, for a possible refinance, loan modification or forbearance are possible ways to stay in your home while reducing your monthly financial obligation.   Visit www.makinghomeaffordable.gov to research the viability of these programs for your situation.  If those avenues don’t achieve successful results the short sale becomes the alternative to avoid foreclosure. 

How you make your case to the lender?  A critical part is the homeowner’s hardship letter which outlines what happened and what he/she has done to try to prevent foreclosure.  Presenting one’s story in a 100% transparent fashion is the best approach.  The letter accompanies the documentation one assembles when trying to qualify for a loan, however, in this situation, you are looking to de-qualify yourself from your present loan. 

Each case is specifically unique and there is not a hard and fast rule as to who will qualify, with what lender conditions that may or may not be imposed, and who will not qualify. In most situations, the lender does not render his decision to accept the short sale until you receive, execute and submit a purchase contract contingent upon the lender and seller work-out agreement.  Most lenders only want to review completely executed contracts and will not review any partially executed contracts.  Remember this is a sale between a seller, the owner of record, and a qualified buyer with a contingency on seller lender approval, much the way a buyer makes his offer contingent upon a buyer’s loan approval from his lender.  This is not a bank owned property where the bank collects multiple offers and makes a decision of which to select.

Does that mean you could go through all the documentation, showings, negotiations and contract acceptance and either be turned down by the lender or more probably be presented conditions by the lender that you cannot accept?  The answer is “yes”.  However, in today’s climate, lenders are actively interested in working with the homeowners to prevent foreclosures.  Remember,  the lender is in the business of lending money not acquiring property. 

Not all homeowners will either get their loans modified or get an approved short sale and some will still face foreclosure.  However, at the end of the day, it is important that you know you, along with your skilled REALTOR by your side, did everything possible to avoid foreclosure. 

Your REALTOR plays a very critical role in this process and requires special training and acquisition of special skill-sets to understand how to best present your case.  The CDPE designation, (Certified Distressed Property Expert), indicates a commitment to understanding the complexities of the short sale and the knowledge and skill-sets to maneuver through this tedious process.   A highly respected national organization with more than  10,000 members, the CDPE training never stops as the short sale processes within every lender is continuously evolving.  The initial training spans two days and more than 15 hours and is followed with opportunities for three hours of ongoing training monthly through scheduled member conference calls and twice monthly Advanced Webinar training.  Your team to guide you through this complex maize should include your short sale specialist REALTOR, both a tax and real estate attorney, and a short sale trained Escrow officer to act in concert with you to assist you in accomplishing your goal of avoiding foreclosure, as there is a big difference in life without foreclosure as opposed to life after foreclosure.  Look for the CDPE logo before you make your  REALTOR decision.

If you have any questions or would like a referral to a CDPE in your area, contact Tim Greiwe CDPE, New Visions Realty, Greensburg, Indiana. 

tim@timgreiwe.com.