Short sale opportunity for nice 3 bedroom, 2 bath home in nice neighborhood on 6th hole of SaraBay Golf Club

6090 Diana Venice, FL

BANK APPROVED 110K,

Great house, 2 story home, close to beach!  Just off Manasota Key road.  Perfect family

or vacation home!  Call today 941-964-0000, won’t last long!

LISTING PRICE MAY NOT BE SUFFICIENT TO COVER ALL ENCUMBRANCES, CLOSING COSTS, OR OTHER SELLER CHARGES AND SALE OF PROPERTY AT FULL LISTING PRICE MAY BE CONDITIONED UPON APPROVAL OF THIRD PARTIES.  1 MILE TO MANASOTA BEACH 2 STORY HOME LAMINATE FLOORS IN LIVING AREA FIREPLACE & BAY WINDOW IN LIVING ROOM*OPEN KITCHEN*MAIN BEDROOM ON GROUND FLOOR*2 BEDROOMS & BATH ON 2ND FLOOR

Background

Historically, the foreclosure marketplace was focused on distressed homeowners with equity.  Nationwide, homeowner equity has evaporated and equity must be created through bank negotiations.   The short-sale phenomenon offers a unique opportunity to capture a property for months while negotiations take place and months to determine true market value.   In the case of a short sale flip, we are able to use the time during a short sale negotiation to find and secure an end user and exit strategy.  The goal today is to find the weakest of the lenders and harvest a portion of the equity.

Overview

2004 Launched LeaseOptionProgram.com.   LOPcom was initially focused on homeowners with equity but no means of refinance.  Clients were matched with investors who would purchase the home and lease back to the clients for a year. To qualify, a homeowner would have to have at least 30% equity.  If the home was not repurchased by the client, the equity was then harvested when the home was sold.  Dozens of transactions took place leading up to the peak of the market in 2006.  As the credit markets tightened, purchases were subsequently made using the subject-to transactions that transferred the deed while reinstating existing mortgages.   These types of transactions minimized capital and risks and maximized returns.   Since 2008 we have been entirely focused on short sale transactions.  We now create the equity by negotiating with the lenders.   The short sale transactions are either quick flips (in and out within 30 days) or leasebacks with a 1 year return.  Because of our stringent threshold criteria, less than 10% of our short sale transactions will qualify for Disciplined Capital.

Longer term short sale and lease back offer solutions for homeowners that loan modifications cannot meet.  Homeowners who purchased homes in 2005, 06, or 07 are very upside down and the only option for them is a short-sale and lease-back.   We can purchase these properties for as little as 30% of the note value and lease it back to the client with the ability to buy it back at a 50% premium to today’s short sale purchase price.  This is a Win-Win for all parties.

We are currently negotiating over 300 short sales.

 Experience

Jules Roman is currently the Owner / Broker of several real estate brokerages; Tarpon Coast Realty, Fiddler’s Green Realty, and Yorkshire Realty.  With hundreds of closed transactions, Mr. Roman has the knowledge and experience required to reliably create value for the Fund.

Fiddler’s Green is primarily a property management company; FGRentals.com currently manages well over 100 properties in SW Florida.   Mr. Roman is first an investor himself.  He has owned and operated a portfolio of 28 rental properties for more than 5 years.  He is also the developer of the McCall Professional Center, a 28,000 sqft commercial development in Englewood, FL.  Mr. Roman holds both a degree in Mechanical Engineering and an MBA from the University of Michigan.  He credits much of his success to his ability to apply his business acumen to Florida real estate industry.

Jules Roman
Owner / Broker
Tarpon Coast Realty
Boca Grande, Fl
941-964-0000
Jules@TarponCoastRealty.com

2245 N BEACH RD UNIT 403

spectacular views

SHORT SALE. FIRST CLASS CONDO, SECLUDED PENTHOUSE WITH VIEWS OF BOTH THE GULF OF MEXICO AND LEMON BAY.   BREAKFAST BAR, EXPANSIVE WINDOWS, 10 FT TRAY CEILINGS AND CROWN MOLDING THROUGHOUT. THIS CONDO COMPLEX IS HIGHLIGHTED WITH BEAUTIFUL AMENITIES SUCH AS HEATED POOL, SPA, BOAT DOCK, WORKOUT ROOM, GATED ENTRY, PRIVATE OWNER 2 CAR GARAGE WITH STORAGE.

$375.000

Granite CountertopsLuxury AmenitiesLuxury Amenities

Luxury Amenities

Bank approved short sale

Rotonda West FL

Hello. My name is Matt Hoerl and I am a Realtor on Boca Grande Fl.

The program’s official name is the Home Affordable Foreclosure Alternatives Program (HAFA), and it’s part of an existing initiative, the Home Affordable Modification Program (HAMP). HAFA applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac, which cover over half of all U.S. mortgages; however, Fannie and Freddie will issue their own versions of HAFA in coming weeks.

While HAFA’s goal is simple – increase the number of short sales and “deeds in lieu of foreclosure” by simplifying the process – the rules are complex, and it comes with 43 pages of guidelines and forms. Among other things, HAFA:

• Allows borrowers to receive pre-approved short sales terms before listing the property (including the minimum acceptable net proceeds).

• Prohibits servicers from requiring a reduction in the real estate commission agreed upon in the listing agreement (up to 6 percent).

• Requires borrowers to be fully released from future liability for the first mortgage debt (no cash contribution, promissory note, or deficiency judgment is allowed.)

• Provides financial incentives: $1,500 for borrower relocation assistance; $1,000 for servicers to cover administrative and processing costs; and up to $1,000 for investors.

The program does not take effect until April 5, 2010, but servicers may implement it before then if they meet certain requirements. The program sunsets on Dec. 31, 2012.

For more information, read the Nov. 30 HAMP news release: https://www.hmpadmin.com/portal/docs/news/hampupdate113009.pdf

To read the complete 43-page short sale guidelines, go to: https://www.hmpadmin.com/portal/docs/hamp_servicer/sd0909.pdf

© 2009 Florida Realtors®