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Helene Moore's Blog

By Helene Moore | Agent in Las Vegas, NV

    Posted Under: Home Buying in California  |  August 25, 2009 12:49 PM  |  800 views  |  No comments

    Are you tired of searching for homes and writting 10 offers in hopes to get one home?

    well thats the Las vegas market unless you work with someone like me who works with investors who purchase homes at auction and than fix and embelish them for sale.
    Be the first to view the home before it hits the MLS....
    call me today I will show you how I work for you and we dont have to write 10 offers to get one house in escrow.

    These homes are beautiful  and in all parts of the vegas valley.

    winderemere prestige properties
    Helene M Moore
    cell : 702-275-2192
    web site .

  • How Short Sales may affect your FICO score.

    Posted Under: Foreclosure in California  |  January 31, 2009 12:29 PM  |  572 views  |  2 comments

    Regardless of what anyone may tell you, both a foreclosure and short sale will have a negative impact on your credit, however, there is a difference in the severity of the damage between a foreclosure and a short sale.  A foreclosure will show on your credit as a foreclosure/repossession whereas a short sale will show as pre-foreclosure in redemption status or settled.  A foreclosure can prevent you from purchasing a home for 5-7 years whereas new Fannie Mae and Freddie Mac guidelines have changed the seasoning of a short sale to 2 years – which means you can purchase a home much sooner. 

    Foreclosures also generally have a more severe impact on your FICO score.  Due to the high number of missed payments many people accrue over the course of their foreclosure most people report a drop of 200-300 points in their score.  If you are proactive about short selling your home you can reduce this number by acting quickly to get your home on the market and sold.  Most people who complete a short sale report a drop of 80-120 points in their credit score. 

    The short sale process is also far more discrete than a foreclosure.  Your friends, family and neighbors do not need to know you are doing a short sale on your property and your property will be marketed like any other home for sale.  When the property closes escrow you will move out and move on with your life.  When your home is facing foreclosure the bank generally posts a notice of trustee sale on your property.  If the property does go to foreclosure and you or a tenant is living in the home there will be an eviction process followed by a listing – where it is generally marketed as a bank owned or foreclosure property.

    A short sale allows you to get out of a home that is causing you a financial hardship without having to face foreclosure. I highly recommend that if you are considering a short sale you meet with a Real Estate Professional as soon as possible to reduce the impact on your credit and begin the negotiations with your lender..

    Once again you may want to consult with a real-estate attorney  .

  • Loan Modification may stop a foreclosure

    Posted Under: Foreclosure in California  |  December 4, 2008 8:32 PM  |  624 views  |  6 comments
    Many folks are facing loss of income and tough economic times.
    Loan modification is a way to keep families in their homes.and stop foreclosure

    A loan modification is a permanent change in one or more of the terms including interest rate, loan principle, term and payment dates of your loan. This allows the loan to be reinstated, and results in a payment the homeowner can afford .

    1.  Each homeowner has a unique set of circumstances that caused them to fall behind on their home loan, but generally the lenders consider divorce/separation, loss of income, death of spouse,co borrower or family member, illness, job relocation, military service to be acceptable reasons to consider a loan modification. A compelling loan modification letter included in your loan modification application is a very important part of a successful loan modification.
    2. Will a loan modification help me stop foreclosure? Yes, that is the goal of a loan modification. By working with your lender to find a loan workout solution, your loan is brought current and the foreclosure process is halted.
    3. see my other blogs in the las vegas henderson market....

    Helene M Moore
    Windermere Prestige Properties

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