Richard T. Dolbeare (RA) Hawaii Real Estate Agent (REALTOR)
Aloha@RichardDolbeare.com (808) 651-4550

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NAR Short sales and Foreclosure Resource

Short sales & Foreclosure Resource

For Distressed Property Owners & Buyers

New in 2011, a MUST-READ for Hawaii resident-owners!  Hawaii Act 48 MFDR program

For Owners:

If you are reading this, then you may be an owner of a property that has become unaffordable for you.  Having seen this happen to friends and associates, I know how devastating it can be is to those in this unfortunate position.  Fannie Mae has an excellent website about knowing your options and getting help.  I suggest you start by browsing their information in the comfort and privacy of your home.  Afterwards, without further waiting, I urge you to contact me and I will do my best to answer your questions.  If we determine that a short sale makes sense, then we will work together to get it done so that you can move on with your life.  If in trouble, don't let it become a disaster by doing nothing.

Fannie Mae  Know Your Options

 

For Buyers:

There continues to be strong interest by buyers in purchasing distressed properties because of below-market prices and you may be one of those.  I link buyers and sellers to achieve a win-win outcome for all.  In a short sale, the seller will not receive any proceeds so does not have a vested interest in the sale price.  Negotiations with the lender are key because the lender will need to accept less than is owed on the mortgage.

Distressed Property Guide  "Opportunity is Knocking", a guide to the ins and outs of finding a good deal in today's markets.

A list of distressed properties will be sent to you upon request.
 

Other Information & Resources:


New in 2011 (must read)--Hawaii MFDR program

A concise Hawaii foreclosure law summary is provided by foreclosureLaw.org.

2009 Hawaii Act 10 legislation--$3600 or 6-months condo maintenance fee recovery from buyer (has been impacted by newly enacted Act 48 increasing to $7200)

Lenders may send Form 1099-C, Cancellation of Debt treating cancelled debt of $600 or more as income.  Ask your tax advisor if IRS Form 982 can be used to exclude this "income" on your tax return.

Consumer Resource Guide on short sales & foreclosures by Frank Serio

Bank release authorization form

Loan Lookups:

Fannie Mae  Fannie Mae loan lookup

 Freddie Mac  Freddie Mac loan lookup

Contact Information

Author of the #1 real estate blog on Kauai

Active member of Active Rain Real Estate Network

Engineering Hawaii Dreams Today

[All information contained herein is deemed reliable but not guaranteed]

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