Linda Martignetti

Aug 072014
 

From the Brochure: “The Four R’s of Short Sales…and More – The Transparent Approach to a Real Estate-Related Crisis”

Homeowners… Recovering and regaining control

For answers to questions like these and many more, contact me for your free booklet,”The Four R’s of Short Sales….and More.”

Q. How do I know if my property and I may be considered for a short sale?
A. Eligibility for a short sale resolution is determined by your lender’s short sale policy. Your lender will also direct you as to what you must do to comply with their process and procedure. You can either contact your lender directly or authorize an attorney, real estate agent or other representative to contact them on your behalf.

Q. Should I contact a real estate agent?
A. Absolutely. But before selecting a real estate agent to represent you, determine whether or not they are knowledgeable about preforeclosure, foreclosure and bankruptcy options. Your agent should not be giving you advice regarding your personal financial situation.

Any real estate agent who asserts that he or she is prepared to assist you as a homeowner in a potential short sale outcome must also be willing to follow the specific administrative procedures of the particular lender involved. In addition, the real estate agent should also acknowledge that they essentially confine their guidance to determining the property’s value and how to best market the property, versus advising the homeowner on the best preforeclosure/foreclosure resolution.

Q. Am I responsible to continue to make mortgage payments if I have intentions of applying for a short sale on my property?

A. Unless you have received information to the contrary from the lender in writing, you are responsible to continue to make mortgage payments.

Q. As a homeowner, what incentive do I have to assist in the sale of my property if I am not going to receive any proceeds from the sale?
A. The authors of this publication believe that homeowners first and foremost have an ethical responsibility to expend the necessary effort to support as high a sales price as possible-even though they will not experience a financial gain-when expecting the lender(s) to forgive any and all of the homeowner’s outstanding mortgage debt.

We also believe that the higher the realized sales price, the more likely the lender will be in granting a short sale outcome for the homeowner and possibly either fully or partially waive a deficiency judgment. Moreover, we also advise homeowners to be wary of any real estate agent who, for the sake of facilitating a guaranteed sale in order to collect a commission before a property is foreclosed (ruling out any possibility of a commission), demonstrates a less-than-professional marketing commitment. Such real estate agents will often justifies this lackluster attitude by saying to a homeowner, “No matter what the home sells for, it really doesn’t affect your pocketbook-only the lenders.” This disregard for marketing on behalf of some real estate agents seeking to facilitate a short sale at all costs (but not to them) is one that lenders readily recognize.

We find that this unprofessional approach to real estate marketing, notwithstanding the special circumstances surrounding a proposed short sale outcome, is to the detriment of well-intentioned homeowners who are hopeful of gaining lender cooperation. Lender cooperation is, without question, influenced by how honorable they believe both the homeowner and the real estate agent are, despite the difficult circumstances facing the homeowner and the challenging marketplace facing the agent.

Aug 072014
 

Over the last year, home prices nationwide have steadily increased. In fact, four states reported home prices that matched their peak, and twenty-two other states reported home prices within 10 percent of their peak prices.

Our market has improved over the last year as well! However, many homeowners in our community don’t realize just how much prices have improved. So if you or someone you know are one of the millions of homeowners who were underwater on their mortgage, or have been waiting to sell your home until the market improved, now may be the time to sell! I have a report entitled, “Underwater Homes Reach the Surface,” that explains why prices keep rising. Today, homeowners looking to sell their home are in a great position. Do you know how much your home is worth? Probably more than you think!

Contact me today for a free market analysis.

Helping you find your way home!

Linda Martignetti
Licensed Real Estate Broker
Crossroads Realty Team
Direct: 954-464-5434
Fax: 1-888-427-6865
Email: Linda@CrossroadsRealtyTeam.com
Website: www.CrossroadsRealtyTeam.com

Life isn’t about waiting for the storm to pass…..it’s about learning to Dance in the Rain!

Aug 072014
 

Are You Facing Foreclosure?
A Short Sale May Be A Better Way Out!
There are countless hardships that can turn home ownership from a joy into a burden. The loss of a job, medical bills, or an unexpected hike in monthly payments can all make a mortgage unaffordable. But ignoring the bills will not make them go away, it will only make things worse.

If you need help, there are approaches that can help, but you may not be familiar with them. One of these is a “short sale.”

In an approved short sale, the lender agrees to accept less than is owed for the property, and the homeowner is relieved of the debt. A lender may be willing to do this because it spares a lot of hassle and expense involved in executing a foreclosure. And typically, a short sale does far less damage to the homeowner’s credit than a foreclosure does.

Explore the possibility of a short sale for your property! Stop a Florida foreclosure and potentially save your credit rating! Complete the form below. A qualified Florida short sale agent will be in touch with helpful information.

Apr 232014
 

short sale image

For homeowners who are in danger of losing their home to foreclosure, it is common to feel like you are all alone and that there is no one who can help. This simply isn’t true. There are real people who have been in the same situation who have found solutions. Take, for example, Dan and Jessica M. of Grand Blanc Township, Michigan.

For Dan and Jessica, their homeownership dream always involved building a house on a piece of land. “We build a house on half an acre,” said Dan.  In order to achieve their dream, they stretched a little beyond what they were comfortable with by getting two adjustable rate mortgages, a common practice at the time. “The introductory rates were 8.5% and 11.5%, but our lender said, ‘Don’t worry, you can refinance after two years.’”  For a while, they were getting by. Then, a couple of things happened. “We had our first child, and soon afterward, Jessica lost her job,” said Dan. “Soon, bills started piling up.”

Because they believed they’d be able to refinance, they started paying their bills on credit cards. “We hung on for the full two years hoping we could refinance at a lower interest rate, but when the time came, our lender said no because our home’s appreciation was too low.”

Dan and Jessica needed help. A friend referred them to a real estate agent who was a Certified Distressed Property Expert®. The agent answered their questions. Most importantly, the agent explained the difference between a foreclosure and a short sale. In a short sale, the bank agrees to allow the home to be sold for less than the amount due on the loan.

“With this information, we were able to decide that a short sale was our best option.” It was a stressful process, but the agent helped them tremendously. She even kept a potential buyer from walking when the process was taking longer than expected. “Honestly, if it weren’t for her, the buyer would have left and we’d have been stuck.”

Dan and Jessica’s story is just one of many. I have a report entitled “From Foreclosure to Freedom” which tells other stories of real homeowners who faced foreclosure and found relief. Call or email me if you would like to read the stories. Then contact me for a free, confidential consultation whenever you’re ready.

Linda Martignetti, CDPE, Broker/Owner Crossroads Realty Team
954-464-5434
Linda@CrossroadsRealtyTeam.com

 

Apr 232014
 

cdpe

When your roofing needs to be replaced, you consult a roofing expert. When there’s a problem with your computer, you consult a technician who understands the issues of your particular model. And when a loved one becomes sick, you seek answers from medical professionals specifically trained in that particular illness. Similarly, in this current economic crisis, millions of homeowners facing financial hardship and possible foreclosure action are requesting the help of agents with the Certified Distressed Property Expert® (CDPE) designation. A CDPE is a real estate professional with specific understanding of the complex issues that confront homeowners in distress. Through comprehensive training and market experience, CDPEs are able to provide real solutions for homeowners facing hardships in today’s market.

The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind. CDPEs believe that in almost all cases, the best course of action for a homeowner in distress is to speak with a well-informed, licensed real estate professional. They have the tools necessary to help homeowners find the best solution for their particular situation. While enduring financial difficulties are challenging for any family, the process of finding a qualified real estate professional should not be. Linda Martignetti has achieved the CDPE designation, ensuring you deal with a professional trained to address your specific needs. CDPEs don’t merely assist in selling properties, they serve and help save their clients in need.

Contact Linda at 954-464-5434 or Linda@CrossroadsRealtyTeam.com to help discover your options.

 

 

Oct 262012
 

Mortgage Payments

In a poll that was recently conducted by Harris Interactive, a major firm in the industry of market research, about 22% of all homeowners experience difficulty in turning their mortgage payments in on time. Additionally, another 7% of all homeowners have the ability to meet their deadlines, however, they find this difficult to do.

Harris Interactive also discovered that about 21% of these same individuals are curious as to whether or not their mortgages are categorized as being underwater. This is a term that is commonly used to describe residential properties that have been devalued by their mortgages so much that they no longer cover the amount that is owed. As there is a continual decline in the state of the economy, more and more homeowners are beginning to fit this classification.

This poll has additionally brought to light the fact that mortgages are declining. In the year 2010, 69% of adults had mortgages, while in 2011, this number fell to just 66%. This reveals two trends: in addition to people losing their properties there is also evidence that shows that they are not purchasing anything new. This information comes in spite of the fact that there are more cheap homes currently available.

When it comes to homeowners having a rough time with their mortgage payments, however, there has been a decrease in numbers collected in 2011 and those that were obtained in 2010.

Unfortunately, Harris Interactive has stated that it is too soon to know whether or not this improvement is indeed genuine. Foreclosure could be one major reason why these numbers have dropped.

Nevertheless, statistics have revealed a bit of recovery, albeit a slow one. This due to the fact that they compare data with another study that was also performed by Harris Interactive.

3,172 consumers were polled in this most recent study concerning mortgage payments. The poll lasted seven days throughout the month of March 2011. This research does not account for the likelihood of error, due to the fact that all participants took part of their own volition. These individuals were not offered payment or any other incentives, which further validates the truthfulness of the information that has been collected. Participants supplied answers to every question of their own free will.

Oct 222012
 
Coral Springs Covered Bridge

If you are interested in Coral Springs Real Estate, here is some information about the city.

Coral Springs is a city that is located in Broward County in Florida, in the United States. It is about 20 miles northwest of Fort Lauderdale. This city was chartered on July 10th, 1963. According to the United States Census records of 2010, Coral Springs had a population of 121,096. It is considered to be part of the Miami-Fort Lauderdale-Pompano Beach Metropolitan Statistical Area, which had a population of 5,564,635 as of 2010.

The master plan of Coral Springs was mainly developed by Coral Ridge Properties, or WCI Communities which it now known as. This company is a division of Westinghouse. The company name was what inspired the name of the city. Regardless of its name, no springs are located in this city, as they are found in the Northern and Central portions of the state.

The city grew quickly throughout the 1970s, 1980s, and 1990s, with an increase of 35,000 residents in each decade. There are stringent codes that are designed for the aesthetic appeal of the city, making Coral Springs one of the more distinctive cities in South Florida. The government’s fiscal management has maintained bond ratings that are high. Coral Springs has received praise for having a low crime rate, family-friendly atmosphere, and its overall livability.

Coral Springs is known as a planned community. Before July 1963, this area that the city sits on was combined with 20,000 acres of marshy lands that were purchased by Henry Lyons between the years of 1911 and 1939. When floods occurred in 1947, the Central and Southern Florida Flood Control District was created. This is now called the South Florida Water Management District. Levees and canals drained the water from the area on which Coral Springs was built. Once this land was drained and cleared, much of it was utilized as a bean farm. When Lyon died in 1952, his heirs focused on cattle instead.

Developers became interested in this area when there was a boom in real estate after World War II. 3,869 acres of the Lyons family’s land was purchased for $1 million on December 14th, 1961 by Coral Ridge Properties, who had many developers in Broward County already. Some other names that were considered for the city were “Pompano Springs”, “Quartermore”, and “Curran Village”. Coral Ridge Properties had developed a city plan in 1964 that would accommodate 50,000 residents. In July of that year, 536 building lots sold for $1.6 million. A landmark covered bridge was constructed that year in order to promote the town. The company bought another 6,000 acres from the Lyons Family in 1965. In 1967, the city’s first government elections were held.

The city continued to grow with the addition of a regional mall, shopping centers, 19 public schools, and parks during the end of the 20th century. Growth continued when the Sawgrass Expressway was constructed in 1986. As recreation needs increased, a theater and museum were opened in the 1990s. In 2003, the city hit residential build-out, and it close to reaching commercial build out as well.

In 2006, Money Magazine named Coral Springs as the 27th best city to live in the United States. In 2007, Morgan Quitno named it the 10th safest city in the United States. Also in 2007, it became the first local or state government in the country to be granted the Malcolm Baldrige National Quality Award. In 2008, the city was praised again when it became a three-time winner of America’s Promise “100 Best Cities for Young People” award. In 2010, Coral Springs was named 44th best place to reside in the country by CNNMoney.com.

Sep 082012
 

When homeowners negotiate a short sale, banks are legally required to report the forgiven debt to the IRS. The homeowner now has to pay income tax on this amount.  In many cases, the tax responsibility can end up being tens of thousands of dollars.

The Mortgage Debt and Relief Act of 2007 offers many homeowners relief from having to pay income taxes on forgiven mortgage debt, saving them from trading one unmanageable payment for another.

But barring an act of Congress, the Mortgage Debt and Relief Act is set to expire at the end of 2012. For distressed homeowners, this means that time is running out to close their short sales and take advantage of the program.

As a Certified Distressed Property Expert, it is my mission to help homeowners avoid foreclosure and get their lives back on a positive path. If you or anyone you care about is faced with an unmanageable mortgage, please let them know I am here to help.

Aug 302012
 

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.

Linda Martignetti
Certified Distressed Property Expert
954-464-5434

Aug 272012
 

Certified Distressed Property Expert (CDPE) designation from Charfen Institute arms local real estate agent with tools, processes and education to help distressed homeowners in Southeast Florida!

Linda Martignetti, Broker/Owner and CDPE of Crossroads Realty Team announced today that she is now among an elite group of over 40,000 national CDPE trained professionals helping local homeowners avoid foreclosure via short sales.

In a short sale transaction, the lien holder accepts the selling price of the home, even if that amount is less than (“short” of) the borrower’s mortgage balance.  This option is less harmful to a homeowner’s credit score, does not challenge employment or security clearance, and allows the seller to be eligible for Fannie Mae or Freddie Mac backed loans sooner than a foreclosure.

The CDPE designation, offered by the Charfen Institute, is the fastest-growing independent designation in real estate industry history.  “As a Certified Distressed Property Expert “(CDPE), Linda says, “it is my mission to help homeowners avoid foreclosure and get their lives back on a positive path. If you, or someone you know, is faced with an unmanageable mortgage, please know that I am here to help.  There are other options to save your credit by working with me and your mortgage company on a short sale.”