Master Short Sales

Got Work To Do In Houses
Built Before 1978?

Do IT NOW!  AND LEGALLY!

But HURRY!  The new lead law has been delayed
to take effect until October 1, 2010!

so…

Get that lead repair done now!

If you are going to sand, pressure wash or replace painted
surfaces in a 1-4 family that was built before 1978

you don’t have to be EPA certified or the owner-occupant
to do the work until October 1, 2010.

So get the work done now AND get EPA certified too so you
can still get the work done after October 1, 2010.

• Think this law is stupid?
• Refuse to get certified?
• Wait until you get fined and then think about it?

All dumb ideas!  The less who get certified will raise the
prices that get charged for doing the work from those who do
get certified.  Remember the law of SUPPLY AND DEMAND?

Less people who are certified and can’t do the work will
significantly raise the price for the people who are certified
and can do the work.

It’s only $250 to get certified.  Learn the EPA ways.

Did you know:

• If you work on houses built before 1978 and you aren’t certified
  you can be fined $37,500 per DAY?  (Yes, I wrote thirty seven
  thousand dollars!)
• If you see people who are working on houses built before 1978
  and they aren’t certified, you can be reported to the EPA?
• If they report you they get paid part of the $37,500?

Yes, I said Nazi Germany.  Tell on your parents and collect money.

Yes, this is still America.  The lawmakers…we don’t know where they are
from.

Did you also know:

• You most likely won’t win a case in court if you fight the fine.
• A house built between 1960 – 1978 has a 24% chance of having lead?
• A house built between 1940 – 1960 has a 69% chance of having lead?
• A house built before 1940  has a 87% chance of having lead?
• The amount of lead dust needed to call your house “with lead” is less than the amount of sweetener in one sweetener packet?

Seems crazy doesn’t it?

The point is:  If you have work to do, replace windows, do
plumbing, electric, roofing, siding, anything that’s going to disturb
more than a 6sq ft area if it’s inside the house or a 20 sqft. area
outside of the house DO IT NOW!

DO IT NOW!   DO IT NOW!   DO IT NOW!   DO IT NOW!

All of those disturb painted surfaces and can create lead dust and
you can still have un-certified people do those jobs for a less
expensive price until October 1, 2010.  You have 3 months left!

Deb McMillan

The Short Sale Queen® and Coach

I keep hearing what a good thing it is that the banks have paid back the TARP money to the government.

That they are right again with the public and tax payers and all isrithgt with the world.

It just has felt wrong some how but I didn’t know enough to talk about it.

I have learned a little more.  Did you know that once the banks pay back all the TARP money they have borrowed from the government, they now get tax credits on each short sale or loan mod and maybe foreclosure that they do?  The get a tax credit for the amount of debt they forgive to the homeowner.

Therefore, the HAFA program that I wrote about last, the 2nd and additional lien holders are “supposed” to forgive the homeowner of the  unpaid balance and not go after them for the difference.  However, the first declaries it doesn’t and won’t have time to “ensure” they don’t pursue the homeowner so if the homeowner doesn’t get something FIRM in writing, those additional lien holders CAN and most like will go after them for the unpaid balance.

Even though they get a tax credit from the government.

No wonder they paid off err, I mean paid back the government so quikcly.

What do you think about all this?

Deb McMillan

The Short Sale Queen® and Coach

www.shortsalequeen.com

Saturday afternoon and evening I spent my time at a wedding reception.

This was no ordinary wedding reception.  The wedding was 3 weeks earlier and in Gatlinburg, TN.  And I wasn’t there.

But I was invited to the reception.  It was an outdoor picnic with family and friends. – Approximately 60 or so.

And who was the Groom?  None other than a family friend.  And what is his job by day?  A loss mitigator for a bank I can’t name.

Yep, a Loss Mitigator.

• One of those guys who you try and try to get on the phone to negotiate DOWN their offer.
• One of those guys who normally, you can’t get to answer the phone when you really need them.
• One of those guys who hold the keys to the kingdom to how the banks really work and can get your deal to the decision makes.

Not to worry.  The gift for the bride and groom was appropriate and memorable.

Stayed tuned and see if there are any “information updates” from smoozing with family friends!

Deb McMillan

The Short Sale Queen® and Coach

www.shortsalequeen.com

Get Free Tips and techinique at

www.BestShortSaleCourse.com

www.MyShortSaleTraining.com

I have been reviewing the HAFA program since it’s becoming more apparent that the banks want to have the homeowners enrolled in the program.

Have you looked at it?  It doesn’t look like a good deal at all to me.  Yes, not a good deal for the homeowners is what I mean.

The property has to be their personal home.  That’s normal.  But they must also still be living in it.  It is also very possible they may have to be making payments to the bank during the 120 days they give the homeowner to find a buyer on a short sale for a set purchase price the bank has per-determined.

UGH!  That who paragraph sounds like a lot of  “ifs” and a bad deal to me.

Also, when the homeowner signs up for the HAFA program, yest there is an Opt In Form, they agree to do a Deed-In-Lieu in 4 months (120 days) if the house doesn’t receive the desired short sale offer.

Does that stink?  In today’s market I’m guessing that the bank will price the house higher than it will really sell for.  And with the First Time Home buyers Credit gone, buyers are looking for deals.  So if the bank is pricing the houses high – no buyers will appear and the homeowner will automatically get a DIL on their credit.

OUCH.  That doesn’t look or feel near as good as a short sale or as easy to recover from.  Good job HAFA.  Really helping the homeowner.

We talk about all this and more on my weekly coaching call with short sale students all across the country.  You should be on there too!

Log on and learn more at www.shortsalequeen.com

That’s all for now

Deb McMillan

The Short Sale Queen® and Coach

When my birthday comes around each year, I know two things.

I’m getting older and hopefully getting a birthday gift or two and

a holiday is close.

It’s always Memorial Day.  And as I do get older I realize more and more how blessed I am to be living in the United States of America.

No matter what we think of the current regime, we still have religious freedom.  We have to remember who gave their lives to give us that freedom.

So, today think about the soldiers and their families who gave their life or their son’s life to keep up free.  It’s not like this in other countries.  And we may be losing some of those freedoms as we speak.  So say a prayer today.

Say a prayer for those soldiers who did give their lives.  Say a prayer for the soldiers who are giving up their families today.  Are in a foreign country without their families and some who won’t come home.

Be grateful for all the wonderful things we do have in our lives and thank someone for it.  A vet in a wheelchair.  Your friends father who was a vet.

And remember the price of freedom is never free.

Deb McMillan