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Archive Monthly Archives: January 2012

Wellington Fl Homes For Sale- Another Successful Closing

Wellington Fl Homes For Sale– Another Successful Closing

One of the best places to meet people and potential buyers and sellers is at the gym or health club. Here is the post I wrote about making the most of your gym memberships- not only do you get a healthy and good work out you can also get great customers or clients.

Nestor goes to the gym on a regular basis. Since he is one of the most personable people I have ever met and he also has a great personality- it is easy for him to get a repor going rather easily.

He gets a great handful of listings and buyers from the health club. Of course when you can lift 400 pounds on the bench press it does get quite a bit of attention:).

We just closed on a very nice property with a buyer that Nestor met at the health club. It was an all cash deal as are 60% of Wellington real estate transactions. We have an awesome team of buyers agents however, Brian and Nestor made a great connection and it was going to work out best if Nestor worked with him.

Here is Brian’s Testimonial letter:

My wife and I recently purchased a home in Wellington, Florida with

the assistance of Nestor Gasset of International Properties and Investments Inc. We wanted to share our positive

buying experience.  With the inherent stresses of purchasing a home,

we were put at ease with Nestor’s demeanor, sincerity and

professionalism.  Nestor knew what we were looking for in a home and

had our best interest at heart.  Throughout the several month home

search, we looked at Nestor as a friend, not a realtor “doing his

job”.  He took it to a higher level than I have ever heard of.  He

surprised my wife and I by having a 16′ moving pod dropped off in the

driveway of the home we were living in to ease the “moving pains”.  It

was indeed a sign of Nestor’s sincerity and dedication to insuring we

had the most positive home buying experience.  So, to you Nestor

we thank you so much.  Brian and Lisa.

 

The property is spectacular and the perfect fit for Brian and Lisa. Brian works in a very high stressed environment in his line of work so the tranquil tropical oasis in his new back yard is going to be such a blessing in their lives.

Working with Wellington sellers and Wellington buyers for over 15 years we know the area, we live in Wellington and we raised our children here as well as still one more… and now grand children too… see what Wellington is all about!

Contact Nestor Gasset and Katerina Gasset today at 561-753-0135 for premier Wellington properties.

Not Paying Your HOA Fees Is The #1 Killer of Short Sales and Deed In Lieu

Not paying your HOA Fees is the #1 Killer of Short Sales and Deed in Lieus. 

Many homeowners who are behind in their mortgage payments are also behind in their HOA fees. When we take on a short sale listing it is very important for the seller to understand the ramifications of NOT paying HOA fees. 

In the state of Florida the HOA can foreclose on you, they can lock you out of the pool and clubhouse, they can evict you after the foreclose on you and rent your condo or property out, they can deny you access through the gate. 

And the HOA can do this very fast. Many people here are being told by their agents, by their attorneys and by their friends and family members that their HOA can not foreclose because the first bank, the main lien holder, is in first position and if your bank has not foreclosed the HOA can’t. Well, that is NOT TRUE. 

The HOA can foreclose on you subject to the first lien holder. They don’t need your bank to foreclose on you first or at all. 

If you are planning on doing a short sale then you should do all you can to keep up with your HOA payments. If you are far behind and the HOA has their legal council contacting you- make some arrangements to pay towards the part you are behind. 

If your HOA fees get too high, your lender is not going to approve those to be paid out of the net loss they are getting at closing. 

If you want to do a deed in lieu you have to be current with your HOA fees or you have to negotiate with your lender to pay a portion of those fees for you because you must give clean title in a deed in lieu. 

Attorneys tell us that for deed in lieu- the number one killer is the homeowner being behind in their HOA payments. 

Most every attorney we know that understands the short sale process advises their clients that even if they are not making their mortgage payments they should keep current with their HOA payments. 

We are not attorneys and we are not giving you legal advice. Consult an attorney if you are behind in your HOA payments.

If you or someone you know is behind in their payments consider a Florida short sale.Contact Nestor or Katerina Gasset at 561-753-0135 today for your private confidential interview to go over your short sale options. 

Why Won’t The Foreclosure Judge Force My Bank To Modify My Loan?

Why Won’t The Foreclosure Judge Force My Bank To Modify My Loan? 

In Florida we are a judicial foreclosure state which means that you can fight your foreclosure in court. You can have your day in court and you have your defenses. 

If you have not made your house payments for a while you will get served at some point in time a summons and complaint for foreclosure. Some banks will serve you with a foreclosure lawsuit about 10 days after they send you an accelleration letter and others will not serve you for a while. Some people get served with a foreclosure lawsuit within 60 days and others it could be years. 

The contract you signed when you bought your house- is between you and your bank. When you did not have enough money to buy your house with cash you asked your bank to give you a loan. The bank said yes but in return you would be signing a promissory note. This is what we call the ‘Note’. The note is an agreement for you to pay your bank back the money you borrowed. It was a contract between you and your bank. But your credit alone was not enough for the bank to give you the loan for your house so you signed a ‘mortgage instrument’ which became a part of the transaction agreement you made with your bank. Your mortgage is an agreement that you offered up your house as collaterol to back up your promisorry note that you would pay back the money you borrowed. 

Your mortgage instrument says that the bank can take away your house from you if you don’t pay your agreed upon house payments and other fees. But the bank has to take you to court or file a motion in court, like a law suit against you in order to actually take the house away from you because Florida is a statutory warranty deed state. That is the subject of another article. 

Since this is all an agreement you and your bank made when you want to remodify the terms of that original agreement the bank does not HAVE to do so. It is a misunderstanding that the bank HAS to let you modify or refinance your loan or do a short sale or do a deed in lieu. They don’t HAVE to do any of those things because it is not in the contract that you have with your bank. 

So a judge can not force the bank to go against their own contract unless of course the bank created your contract in a fraudulent manner or violated laws in doing the contract with you. 

The court can order your bank to go to mediation to try to work things out with you. The supreme court of Florida passed a ruling that says that all foreclosure cases must go through mediation before the bank can get their foreclosure judgment. The court can do this because it is about rules of court. They can determine what their rules of court are. 

The judge can force the mediation but the judge can not force the outcome of that mediation. The mediation is confidential and the details of the mediation resolve is not brought up in court. 

So the answer is NO- the judge does not force your bank to modify your loan. He can not force you or your bank to agree to anything that is not in your contract with the bank. 

Disclaimer: We are NOT attorneys and we are not giving you legal advice. Please consult an attorney who knows how to help you defend your foreclosure lis pendens. 

Nestor Gasset- Katerina Gasset- 2011 Top 9% In Wellington and Palm Beach County Florida

Nestor Gasset- Katerina Gasset- 2011 Top 9% In Wellington and Palm Beach County out of over 5000 real estate agents in Palm Beach County. 

Bragging rights:) and self-promotion going on here with a smile on my face- yes, it is time to toot our own horns here! 

Back in 2007 there were over 10,000 agents in Palm Beach County and that number has dropped by 50%. We embraced short sales since we already knew how to do short sales since the 90’s recession and the 80’s recession. 

More agents were doing short sales in Wellington and Palm Beach County in 2011. We remained in the top closers for our short sale listings. This is because we don’t give in nor do we give up. The last person that just googled to find us put in google: keyword + Aggressive short sale agents and our name popped up for them. You can not be passive and close short sales. You can not be an order taker and close short sales

It was exciting to get the email from Ocean Capital Lending announcing our 2011 success being in the top 9% of all the agents in Palm Beach County. The best part about it is that it is a third party validation of our numbers, in other words, I did not do the math, a third party did:) And that is always a good thing! 

 

Florida Foreclosure Update- Banks Must Prove They Own Your Note!

Florida Foreclosure Update- Banks Must Prove They Own Your Note! 

The 4th District Court of Appeal has ruled that the banks must prove they own your note before they can foreclose on your property. 

This ruling may force the banks to dismiss some of their cases against homeowners and go back to start the foreclosure process over again after they get possession of the real note. This is good news for homeowners in the state of Florida- they get to have their day in court in order to prove their case. This of course, is also good for foreclosure defense attorneys and it is also good for Florida short sale agents because it gets us some more time to get a short sale approved for sellers who want to move on with their lives. 

The Florida Supreme Court decided to take a case that had already gone to foreclosure. The bank had the note backdated ( allegedely) when they went to court against the homeowner. Even though the homeowner had lost his home the court still wanted to rule on this case because they said it would impact the foreclosure crisis in the state of Florida. 

Then after that decision, the 4th District Court of Appeal ruled on the matter of the banks having to prove ownership of the notes they are foreclosing on. 

Thousands of homeowners have said that the banks did not have the original note in their cases. Most of the banks end up finding the note before the final disposition of the foreclosure summary judgment but the appeals court ruled that the banks have to have ownership and prove ownership before they can even get started in filing a foreclosure summons and complaint against a homeowner. 

The court said that if the bank has any doubt about the note, they should dismiss the case and then refile it later once this is resolved. The homeowner is entitled to an evidentiary hearing instead of the summary judgment hearing. 

The summary judgment should not be used in cases where the homeowner wants a hearing. Summary judgments are not that common except in foreclosure cases. 

Contact a Florida foreclosure defense attorney for futher information. We are not attorneys and we are not giving legal advice. 

There are options to foreclosure. Contact Nestor and Katerina Gasset at 561-753-0135 for a confidential phone evaluation to go over your options to foreclosure. 

Wellington Short Sale Listing Agents Get Approval Letters!

Wellington Short Sale Listing Agents Get Approval Letters! 

All of a sudden we started to get approval letter after approval letter at the end of the year. It could be the timing, it could be the servicers wanting to get files closed before the end of the year or it may be that aggresive Wellington short sale agents get the job done for sellers by not giving in or giving up. 

Sometimes the work seems endless to get the approval letter stage and sometimes it feels like you are working and working with no end in sight. Sometimes you work and work and work on short sales file and the day you get the approval letter is the day the buyer’s agent calls you to tell you her buyers are walking away from the deal! 

Those are not good days! You have to pick up the phone to call the seller who is so excited about finally seeing a light at the end of the tunnel only to hear that the buyer walked. They even walk away from their earnest money deposit at times. They waited too long they always say. 

But we pick up the pieces and go to the back up buyers or put the property back active on the market to hurry up and get another buyer who wants to close quickly at the approved price. This is why we want our sellers to reserve the right to accept back up offers. 

Wellington short sale listing agents negotiate until we get an approval letter and help the sellers get to the closing table so they can get on with their lives and get this chapter closed. 

Wellington Short Sale Agents Help Homeowners- Testimonial Video- Hear What Clients Say

Wellington Short Sale Agents Help Homeowners- Testimonial Video- Hear What Clients Say

This is one of the more emotional testimonials we have received after completing a Wellington Short Sales for homeowners who were in foreclosure.

 

 

 

Wellington short sale agents– Nestor Gasset and Katerina Gasset understand what you are going through when you are up against losing your house. We understand that this is a normal process in this economy through no fault of most homeowners. We understand how to work with your banks in order to come to the best conclusion of this part of your life as possible.

Make sure you ask for testimonials from homeowners who actually have done a short sale with the agent you are going to list with. We list short sales throughout Palm Beach county, Broward and Miami/Dade counties. Don’t just read and accept testimonials from buyers and sellers that are not about short sales. Make sure that the homeowners you are reading about had a short sale that was listed and sold.

Wellington Short Sales- What You Need To Know Before You Sell Your Wellington Home

Wellington Short Sales- What you need to know before you sell your Wellington home. 

There are many situations that you may be facing when the subject comes up in your house about whether a Wellington short sale is your best option or not. 

The most common reason that a homeowner does a short sale is because they are facing foreclosure. 

Because this is the most common reason people do short sales it may seem to many people that you have to be in some stage of foreclosure in order to do a short sale. This is not the case. 

If you are in foreclosure in Wellington Florida then the bank does want to try to work things out with you in regards to resolving your serious delinquency. Most of the time, when we are negotiating short sales for Wellington homeowners the banks are more agreeable in negotiating terms with you than if you are current on your mortgage.

If you are behind in your Wellington Florida house payments but not in foreclosure yet the bank also wants to give you the option of doing a short sale in most cases. This is a great time for the bank to save some money by not pursuing the foreclosure filing in the state of Florida but also a good time for you to do a short sale to be able to negotiate the best outcome.

If you are current with your mortgage payments many real estate agents, attorneys and friends will tell you that you can not do a short sale if you are current on your mortgage payments. This is not true in most circumstances.  A lot of this depends on your bank and who the note owner on your mortgage is. So it depends on a lot of factors. But for the most part, most Wellington homeowners who are contemplating doing a Wellington short sale and are current on their mortgage payments may pursue a short sale.

If you are current on your mortgage but are in danger of becoming delinquent you are also a good candidate for a short sale. If you are depleting all of your savings and are laid off from work this is a good case to make to your lender that you really don’t want to have a foreclosure on your credit report and you also don’t want to go late on your payments. This is a good time to pursue a short sale.

If you are current on your mortgage, have tenants in your property but the rent does not cover enough to make your mortgage payments- you can do an investor short sale. We work with Wellington property owners and Wellington investors who have lost so much equity in their properties and can not get re-financed. If you are in this situation we have a lot of experience in helping investors get their Wellington short sales approved.

If you are current on your mortgage and do have enough money to keep making your mortgage payments you may be able to do a ‘Strategic Short Sale’. In Wellington there are many homeowners who have lost equity in their property- some to the tune of 50% of their equity evaporated in the mortgage melt down and real estate bust in South Florida. Most of the time with strategic short sales you will get your best offer from your lender if you do go late on your payments. That is when the bank is going to make a move in looking at your short sale seriously. If you keep current on your payments your bank may require a larger cash contribution than if you are late or default. Again, it all depends on who your servicer is and who owns your note. They all have different guidelines. 

The best thing to do is to call us- Nestor Gasset and Katerina Gasset at 561-753-0135 to have a confidential phone interview about your situation and we will go over your foreclosure options and Wellington Short Sale options. This way when you are having your next sit down meeting at your house you will have some actual facts to go over instead of just hear-say from good intentions of friends and family members.