New McCordsville Short Sell Listed, 6784 Winding Bend

Posted by: Craig Bartels  :  Category: Short Sells Listed

Wow! If you are looking for upgrades, space & details on 1 1/2 floors, then you’ve found your new home. This home has it all-open floor plan; 4BR/3.5BA; DR, lg GR w/frplc; unbelievable gourmet kitchen has center isle, pantry, 38 in. cabs, brkfst nook, stainless steel appliances; a full unfinished basement. 2,513 sq.ft. of finished space and a 2,227 sq.ft. unfinished basement! Master suite has a massive bay window, walk-in closet, dual vanity, marble garden tub & sep shwr. Spacious screen porch provides relaxation.

More Photos available here:

Video We Have Uploaded For This Home Is Below!

We Are Looking For Additional Indianapolis Short Sales and Carmel Short Sales!

Posted by: Craig Bartels  :  Category: Short Sell Information

I have hundreds of investors that are looking to buy short sell properties(we sometimes sell the homes within hours of us sending to our VIP Private Buyer list of investors).

If you know anyone looking to short sell their home or have any questions, please fill out the simple form on the right hand side of this page and we will be in contact with you.

Second Chance Option For FHA Mortgages

Posted by: Craig Bartels  :  Category: Indianapolis Short Sell Listings

Second Chance Option for FHA

The number of short sales is on the rise, and, as a result, lenders and banks are becoming overwhelmed and the process becomes everything but short.

For some borrowers, a short sale is exactly what they need in order to save their home from foreclosure and to keep their credit from being ruined (it also helps the lender save compared to what they would lose on the foreclosure). But for others, a short sale has turned into a way for them to keep a good standing with creditors and move on to purchase another home while escaping their current mortgage they can’t afford.

HUD recognized this problem and in December 2009 decided to take action. Enter the new FHA guidelines: no longer are borrowers eligible for another FHA loan if they entered a short sale on their primary residence in order to purchase another “similar or superior property within a reasonable commuting distance” (HUD).

The new FHA guidelines were created to avoid the continuing decline of home prices in general. In other words, HUD is getting rid of any reason for a person to seek intentional short sale.

If your wish for another FHA loan is sincere, you are eligible if:

  • You were not in default on the mortgage and other installment debts during the time of the short sale.
  • What you made on the short sale pays everything in full.

What this means for borrowers who were in default on their FHA loan at the time of the short sale:

  • They are not eligible for another FHA loan for 3 years after the date of the short sale.

Of course, there are circumstances where a lender will make an exception for a borrower who was in default at the time of the short sale on their property:

  • The reasons for default must have been due to circumstances beyond their control.
  • The credit report shows that the borrower had maintained good standing before these circumstances came about.

The changes to the FHA guidelines are doing exactly what they should do — stopping those who are trying to take advantage of the system and helping those who really are in a tough situation.

Short Sale Realtor, Indianapolis Short Sale Realtor

Posted by: Craig Bartels  :  Category: Short Sells Listed

We are fast becoming the most sought after Short Sale Realtor in the Indianapolis area. Just this past week, we have listed 3 additional short sells. I will be posting photos of these Indianapolis short sells in the next few days.

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