Short Sale Homes in Atlanta Georgia

How To Short Sale In Atlanta, Georgia

How To Short Sale In Atlanta, Georgia

For more information from the #1 short sale agent in Georgia, visit Duffy Realty of Atlanta: Short Sales

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Short Sale Your Home in Atlanta Georgia

Atlanta Georgia, Short Sale Agent in Atlanta Georgia, Short Sale in Atlanta Georgia

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How to Photograph Your For-Sale House

Photograph Your For-Sale House

taking picture

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Short Sales in Atlanta Are Booming!

Short Sales in Atlanta are Booming!  Are you a candidate for a short sale?

2011 and 2012 may well go down in history as “the years of the short sale.” Through the first six months of 2012, Fannie Mae had completed 38,717 short sales, and in 2011 it completed 70,025 total.  That’s a lot of short sales and homeowners who are removed from their debt!  WOW!  Short sales offer a great advantage to homeowners.

Short Sales in Atlanta

If you are in a situation where you owe more on your mortgage than your home is currently worth, chances are you have at least thought about short selling your house.

Recently the Federal Housing Finance Agency announced that both Fannie Mae and Freddie Mac are issuing new guidelines for mortgage servicers that will essentially consolidate all short sale programs into one streamlined program.

These updated short sale program rules will allow lenders to qualify someone for a short sale, and homeowners will more easily be able to tell if they are eligible for a short sale.

New short sale guideline highlights

Under the new guidelines going into effect Nov. 1:

  • Homeowners with a mortgage backed by Fannie Mae or Freddie Mac will be able to do a short sale even if they are current on their mortgage if they have an eligible hardship such as
    the death of a borrower or co-borrower, divorce or legal separation, illness or disability, or a distant employment transfer.
  • Homeowners will be able to make a financial contribution at closing in exchange for the lender not pursuing them for a deficiency judgment later (assuming the homeowner has sufficient income and/or assets).
  • Military personnel who are being relocated will be automatically eligible for a short sale and will be under no obligation to contribute funds to cover the shortfall between the outstanding loan balance and the sales price on their homes.
  • Subordinate-lien payments will be limited to $6,000. Previously lenders would often attempt to negotiate a higher payment from the homeowner.
  • In certain circumstances, homeowners will be eligible to receive up to $3,000 in relocation assistance.

New guidelines for lenders

The FHFA also recently announced that lenders:

  • Must respond to short sales within 30 days of receipt of the short sale offer.
  • Must provide weekly updates to the borrower.
  • Must communicate a final decision to the borrower within 60 days of receipt of the offer.

Combined these new short sale guidelines seem to indicate that homeowners who are faced with the difficulty of short selling a home will have a smoother transaction than ever before.

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What is a Short Sale in Georgia?

Metro Atlanta Short Sale Specialist, Rhonda Duffy Can Help You

Metro Atlanta Short Sale Agent Rhonda Duffy

What is a real estate short sale in Metro Atlanta?

A quick sale in real estate, also commonly called a short sale, happens when a lender is willing to accept a lower pay off on a loan than what is currently owed due to the borrowers inability to continue making payments.

What does it take to qualify for a Metro Atlanta short sale?

While lenders seem to be easier to work with lately regarding qualifications, there are usually three borrower qualifications that most lenders require for a metro Atlanta short sale. Metro Atlanta short sale agent

  1. Negative Equity – The proceeds from the sale of the property, after all closing costs
    are paid, are less than the amount currently owed on the property,
  2. Financial Insolvency – Financial insolvency means that the borrower has no other assets that could cover the deficiency (the difference between what is owed on the property and the proceeds from the sale)
  3. Financial hardship – Financial hardships that are acceptable do vary some from lender to lender, but the most common ones are; divorce or legal separation, loss of employment or reduction in income, job transfer or relocation, incarceration, medical emergencies or major medical expenses, death of a family member, vacant rental properties, damaged property, just to name a few.  Most lenders believe that a short sale is not for home owners who simply want to sell, but for those who have to sell.

Is it possible for me to get money back for completing a short sale?

Until recent times, it was almost unheard of for a home owner to get money back in a short sale.  Things have changed for the better.  The HAFA program, backed by the US Government, allows homeowners $3,000 to use towards relocation expenses. In addition, some lenders will offer generous incentives of their own in addition to money offered through the HAFA program.  We have seen home owners get as much as $35,000 back to complete a short sale.

Who will pay the Metro Atlanta short sale agents commission?

In a short sale it is customary for a lender to cover all fees associated with the sale of the property, including your Metro Atlanta short sale specialist as well. In almost all cases, a home owner in hardship will pay no out of pocket expense to complete a short sale transaction.

How Can a Metro Atlanta short sale specialist help me?

As a Metro Atlanta short sale specialist, I have helped many home owners who are in a difficult financial season get a fresh start with a short sale.  Short sales are not part of our “basic training” as real estate agents, and are something that should only be left to those of us who are especially qualified and experienced.  Experience is everything when it comes.  I’ll not only market your home in the traditional manor, but will guide you through this transition while simultaneously processing the short sale with your lender.  Visit my website for more information on the short sale process.

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Newer Home in Loganville For Sale as Short Sale

Loganville, GEORGIA 30052
Price: $178,076

5 Bedrooms, 3 Bathrooms
1354 Square Ft

Listing # 3043335

Basic Features:
Area: 141
City Name: Loganville
County Name: WALTON
Schools: BAY CREEK Elementary, LOGANVILLE High
Sub Area:
Zip: 30052
Bathrooms: 3
Bedrooms: 5
Partial Baths:
Square Ft: 1354
Additional Features:
Amenities: Public Record
Basement: Slab
Bathrooms Main: 1
Bathrooms Upper: 2
Bedrooms Main: 1
Bedrooms Upper: 4
Commission: 3.00
Construction: Aluminum/Vinyl, Stone
Cooling: Ceiling Fan, Central, Zoned/Dual
Description: Single Family Res
District: 4
Energy: Clock Thermostat, Double Pane/Thermo, Water Heater-Electric
Equipment: Dishwasher, Microwave Built In, Alarm-Burglar, Alarm -Smoke/Fire, Satellite Dish
Exterior: Deck/Patio, Garden Area, Porch
Fireplace Location: In Great/Family Room
Heating: Electric, Forced Air, Zoned/Dual
Home Warranty: No
Interior Description: Cable In Street, Ceilings Trey, Ceilings 9 ft Plus, Foyer Entrance, Hardwood Floors, Pull Down Attic Stairs, Wall to Wall Carpet, Double Vanity, Garden Tub, Walk-in Closet, Separate Shower
Kitchen Breakfast: Breakfast Area, Walk-in Pantry
Laundry: Upstairs
Laundry Type: Room

Lot: 23
Lot Description: .51 Acre, Level Lot, Wooded, Private Backyard
Lot Dimensions: .65
Market Code: A
Fireplaces: 1
Ownership: Short Sale
Parking: Attached, Automatic Garage Door, Garage, 2 Car, Kitchen Level Entry
Plat Book: 100
Roofing: Composition
Rooms Descriptions: DR-Separate, Great Room, In-Law Suite or Apt., Library/Office, LR Separate, Loft, Split Bedroom Plan, Dining Room Seats 12+, Theater/Media Room
Elementary School Bus Route: Yes
High School Bus Route: Yes
Middle School Bus Route: Yes
Stories: 2 Stories
Style: Traditional
Taxes: 2380
Tax ID: N040E00000023000
Tax Year: 2010
Water Source: Public Water, Septic Tank
Year Built: 2008
: Single Family


Call us at 678-892-1186 to see any listed property, by any agent, 7 days a week.

We offer buyers Selection of Properties to See, Ease of Access to Homes and Pricing Guidance for Offers with a Scientific Process that Guarantees that you Pay Less for a Home.

Rhonda Duffy is a short sale specialist and the only elite CDRS short sale specialist in Georgia. She not only sells short sales in Georgia, she helps buyers buy short sale homes in Georgia.

Contact Rhonda to buy a short sale listing in Loganville, Georgia or to sell your short sale home in Loganville.

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