When a lender accepts an offer to do a short sale on a home, it means that they are willing to accept less than the total amount due on the home’s mortgage. Not all lenders however will accept a short sale on a home, especially if it is more financially sensible to foreclose, but it can be an option in many cases.

If you believe you might be eligible for a short sale with your home, we have some steps you may want to take to find out your eligibility.

1.  Contact a real estate agent who specializes in short sales. A realtor, such as the Tello Team, who has experience with short sales knows all of the steps first hand, and can make the process run very smoothly and efficiently.

2.  Call your lender. Get some names – actual names, not titles. You’ll want a supervisor’s name – or someone who is authorized to make a decision.

1. Write a hardship letter to the lender. Explain your entire situation in full detail. Lenders are people too, and they understand that many people are going through some very rough times. Be honest with them – tell them about your job loss, medical situations, or any other reason that is preventing you from being able to make your payments.

Provide your bank statements and proof of income so that you can back up all of your reasons, as this will help them make their decisions quicker. If everything goes well, your lender will approve your short sale.

The Tello Team has experience with short sales, and are there to answer any questions you may have about the entire process. Contact us today at 954-237-0600 for more information on how we can assist you with all of your real estate needs!

Forbes magazine seems to agree in one of their latest articles, where they compared the happiest and unhappiest cities in which to work throughout our country. This is the second year in a row that Miami landed the number one spot as the happiest city to work in, with an index score of 4.3 out of 5.0. Those who work in Miami mentioned that they are more satisfied with the people they work with, as well as their daily tasks. With industries such as tourism, international banking, and international trading, the city has flourished during the last couple of years!

Congratulations Miami, from all of us at the Tello Team! We’re proud and pleased to be part of the greater Miami area!

Don’t forget to “Like” us on Facebook, and bookmark this page so that you can easily check back for updates on events happening throughout our area, as well as information on today’s real estate market!

Check the public records. Your Tello Team real estate agent can help you with this task. You’ll want to look up all of the public records on the property, including who is in the title, whether a foreclosure notice has been issued, and how much is owed to the lender(s). This can help you determine how much to offer for the property.

Hire an agent with short sale experience. This is more important than you can imagine. An agent with little or no short sale experience may not know all the important steps involved with a short sale. You want an agent that can walk you through all the steps, and ensure that they are being handled in a timely manner. The Tello Team specializes in short sales, and would love to help you with any of your real estate needs.

Submit documentation and purchase offer to the lender. Ready to make that purchase after speaking to your agent? Your agent can help you get the paperwork all ready to submit to the lender, once the seller has accepted your offer. You don’t have a deal however until the lender accepts. Be patient – lenders can take 2-3 months before they make their decision.

Are you considering purchasing a short sale? Contact the Tello Team today at 954-237-0600 with any questions you may have on buying or selling your home. We would love to help you with all your real estate needs!

The Tello Team is proud to announce that a great annual event is back in Coconut Creek! The Junior Bass Tournament is back, and registration is happening right now!

This is a wonderful event for the young fisherman in your family! All youth from 12 to 17 are invited to register, however they must be accompanied by an adult who is 18 or over.

Tournaments will be held on the following dates and locations:

February 19 – Tradewinds Park in Coconut Creek

April 15 – Quiet Waters Park in Deerfield Beach

March 18 – Tradewinds Park in Coconut Creek

Fishing begins at first light, and will run until 1:00 pm. Trophies and prizes will be awarded at each tournament. The angler compiling the most points in all four tournaments will win Junior Bass Angler of the Year.

Don’t forget to register your fisherman now! Good luck from all of us at the Tello Team!

Goodbye 2011, hello 2012! The past year has been filled with events which have happened throughout our country (both good and bad), as well as events in the lives of Pembroke Pines homeowners. Some of us have experienced hardships, some have experienced joys such as the birth of a child or the purchase of a new home. All of us have experienced memories – memories that will stay with each and every one of us for a lifetime.

All of us at the Tello Team would like to thank each and every one of you for being a part of our lives throughout 2011. During this past year, you have touched us in so many ways, and you will stay in our thoughts for years to come.

Thank you for making some great memories from all of us at the Tello Team. We hope we can become a part of your lives and your memories in 2012, and for years to come!

If you are no longer able to own a home, or are simply finding that home ownership has become unmanageable, HAFA may be the answer. Through HAFA, you won’t owe any more for the property after leaving, and you will be free from the threat of foreclosure.

You may be eligible to apply for HAFA if you meet all of the following guidelines:

• You live in the home or have lived there during the last 12 months.
• You have a documented financial hardship.
• You have not purchased a new house within the last 12 months.
• Your first mortgage is less than $729,750.
• You obtained your mortgage on or before January 1, 2009.
• You have not have been convicted within the last 10 years of felony larceny, theft, fraud or forgery, money laundering or tax evasion, in connection with a mortgage or real estate transaction.

Are you ready to take the next step? Do you need more information on HAFA, or any other program that may help you avoid foreclosure? Contact the Tello Team today, and let us show you how we can help. Call us today at 954-237-0600.

Highly productive real estate company in SW Broward is currently seeking a full charge bookkeeper.  He/she will be responsible for all AP & AR, Disbursement of checks to satisfy accounts & supervision of all support staff.  Ideal candidate has worked with Account Edge (MYOB) and has a complete knowledge of all facets of accounting.  Some real estate office experience a plus.

Essential Duties and Responsibilities include:

Disburse checks

Staff management

Detect discrepancies on records or reports

Compute taxes

Prepare bank deposits

Prepare billing statements & reports

Process account invoices

Process payroll documents, records, or checks

Compile data for financial reports

Reconcile or balance financial records

Fill out business or government forms

Maintain records, reports, or files

Excellent listening, verbal and email communication skills 
Ability to learn and think quickly and be inquisitive
Must have high energy, drive, and commitment
Reliable, strong work ethic and ability to work unsupervised

If you are interested in this position, please email your resume and cover letter
No third party applications.

Compensation: Competitive Comp Package

Highly productive real estate company in SW Broward is currently seeking a full charge bookkeeper.  He/she will be responsible for all AP & AR, Disbursement of checks to satisfy accounts & supervision of all support staff.  Ideal candidate has worked with Account Edge (MYOB) and has a complete knowledge of all facets of accounting.  Some real estate office experience a plus.

Essential Duties and Responsibilities include:

Disburse checks

Staff management

Detect discrepancies on records or reports

Compute taxes

Prepare bank deposits

Prepare billing statements & reports

Process account invoices

Process payroll documents, records, or checks

Compile data for financial reports

Reconcile or balance financial records

Fill out business or government forms

Maintain records, reports, or files

Excellent listening, verbal and email communication skills 
Ability to learn and think quickly and be inquisitive
Must have high energy, drive, and commitment
Reliable, strong work ethic and ability to work unsupervised

If you are interested in this position, please email your resume and cover letter
No third party applications.

Compensation: Competitive Comp Package

A very common question in real estate that comes up during this time of year is “Should my home be taken off the market?” This is a wonderful time of year to keep your home on the market! Potential buyers love seeing homes that are decorated for the holidays, as it gives them a “warm feeling” and makes the home feel more personable to them. They can imagine themselves living in that home, which leads to a sale!

It can be very tough to decide whether or not to keep your home on the market during this time – especially with all of the children’s plays and pageants, social gatherings of family and friends, shopping, decorating your home, and so much more going on during this hectic season.

Here are some great reasons to keep your home on the market this holiday season:

1. In many cases, homeowners take some time off work during the holidays. That time off can definitely lead to some showings! Your home will look like a picture postcard to potential buyers!
2. Buyers during the holiday season are much more serious about purchasing a home. They may not have children, or their children are grown – which means that moving during the school year isn’t an issue. Finding that perfect home however, is what matters most to them!
3. A family that is relocating due to a job may not have a choice – they MUST look during the holidays. They may be starting that new job in their new location at the beginning of the new year. Offering to allow them to see your home could lead to a quick sale!
4. If you do get an offer, you will have the opportunity to arrange the terms of the sale to suit your needs. If moving during the holidays is not an option for you, simply select a closing date of your choice. Most sales do not go to closing until 30-60 days after the offer is made, so this is normally not an issue!

Do you have questions on how the Tello Team can assist your with the sale of your home? Contact us by calling 954-237-0600 or simply send us an email! We’d love to assist you with the sale or purchase of your next home!

For the past several years, Tradewinds Park in Coconut Creek as offered a beautiful display of holiday lights – and they will not disappoint in 2011! The 16th edition of the drive-through light extravaganza began Friday, November 18, 2011, and will run through Monday, January 2, 2012. The three-mile route includes dozens of static and animated light displays and illuminated trees.

Why not take some time out of your busy schedule to relax and enjoy the beauty of the Holiday Fantasy of Lights. The extravaganza will be available to all from 6 pm until 10 pm nightly, including holidays. For admission fees and more information, please visit www.holidaylightsdrivethru.com.

The Tello Team wishes you a very happy holiday season!

If you are having financial issues, all of us at the Tello Team urge you to contact your lender immediately for assistance. Waiting to make that crucial contact may make the situation even worse. Holding off could in fact lead to a foreclosure, short sale, or force you into a situation where you would have to sell your home. Some options for you to avoid a foreclosure can be:

• Try your best to catch up on your payments. This is called a forebearance. You lender may agree to work with you and wait before taking legal action, which would allow you to work out a repayment plan you can afford.
• Your lender may allow you to work through a repayment plan. This allows you to add an additional set fee per month to your mortgage payment, until the back payments are caught up.
• If your mortgage is an adjustable rate, your lender may offer a note modification – freezing the interest rate so it cannot increase or they may change it to a more manageable rate for your current income level.
• You may have the option to refinance. If you have enough equity and meet the lender’s guidelines, your loan balance may be increased adding back payments.

There are several options for avoiding the loss of your home. The sooner you contact your lender – the better your options. Contact the Tello Team today and ask us how we can help you with your real estate needs.

If you are able to sell your home as a short sale, the impact on your credit score still exists, but it’s not as harsh. There are ways to reduce the impact on your credit score to lessen the effect.

1. Contact your lender. They will try to help – we are confident they will try to help. Work with your lender on negotiating a short sale, and don’t miss making any payments on your mortgage. This will greatly impact your credit score not being so adversely affected.
2. As part of the negotiation process, ask your lender to report the sale as “Paid As Agreed”.
3. Selling your home as a short sale may present you with the opportunity to purchase another home in approximately 18 – 24 months. That time frame for a foreclosed property owner ranges from 24 - 72 months.

Ready to talk? Contact the Tello Team today to see how we can assist you at 954-237-0600! We are ready and willing to help you and your family with all of your real estate needs!

   Fannie Mae and Freddie Mac have helped approximately 9 million homeowners refinance their homes, with approximately 10% of those through HARP 2.0. HARP 2.0 is very unique, in that it allows a homeowner who owes more on his home than it is worth to take advantage of low interest rates and other refinancing options.

 With the changes that have been made, borrowers will have an opportunity to eliminate certain risk-based fees, and utilize HARP 2.0 to refinance into shorter-term mortgages. Borrowers who owe more than their homes are worth will be able to reduce the balance owed on their homes much faster by taking advantage of our currently low interest rates and shortening the term of their mortgages.

 Need more information on how HARP 2.0 can help you, or how to refinance your home? Contact the Tello Team today to see how we can assist you at 954-237-0600! We are ready and willing to help you and your family with all of your real estate needs!

Over 70% of the new loans originated in South Florida are FHA loans.

When FHA loans are foreclosed on, they are sold as HUD homes.

Get prepared now!

NAHREP South Florida Presents:

How to work with HUD and increase your business

Come to hear from :

·        Two of the HUD Managing and Marketing Contractors: PEMCO & HomeTelos

·        Three local HUD listing Brokers

·        Lawyers Advantage-  HUD approved title agent

REGISTER NOW: CLICK HERE!

Why attend?:

·        Learn how to become an approved HUD listing agent.

·        Learn how to market HUD homes and get more buyers to call.

·        Learn what a NAID number is and how to apply for one.

·        Learn everything you need to know to successfully sell HUD homes.

·        Network with the many of the top brokers/agents in our market place.

·        Network to discover what agents are doing to create six figure incomes in this market.

·        Be part of the NAHREP South Florida movement!

When and Where?:

Friday, October 28th, 2011
Signature Grand
6900 State Rd 84, FORT LAUDERDALE, FL 33317

Networking/Registration start at:10:30-11:15

Lunch and Program at: 11:30 a.m. - 2:30 PM

REGISTER NOW: CLICK HERE!

Cost?

·        $30.00 Lunch for Members

·        $60.00 Lunch for Non-members

·        $135.00 for Annual Membership and the 10/28 Lunch

·        (Annual Membership Regularly $149.00)

REGISTER NOW: CLICK HERE!

Thanks to our Sponsors:

Diamond Sponsor

Alterra Home Loans

Gold Sponsor

Chase Financial

Our last event was sold out!  Don’t be left out!

See the video of our last event:

http://www.youtube.com/watch?v=-q7hwcJkuaQ

REGISTER NOW: CLICK HERE!

Have questions?  Email: info@nahrepsouthflorida.org

1. Start by getting prequalified – No matter which home you’re interested in purchasing, prequalification is the key to a smooth home buying experience and process. Through the prequalification process, you and your lender will know just how much home you can comfortably afford.
2. Go for the experience! Choose an agent who is experienced in short sales. You want to work with someone you can trust, and who knows the entire short sale process inside and out. Your agent should specialize in short sales, and should have the knowledge and ability to keep the entire process running smoothly at all times.
3. Evaluate, evaluate, evaluate – Now that you have the right agent working for you, and you know how much home you can comfortably afford, you can begin the process of evaluating homes. Even though you saw that perfect home from the outside, that doesn’t mean it’s so perfect on the inside. Most short sales are sold “as-is”, and the cost to repair them is your responsibility. Look at several homes, and decide which ones might be the right fit for your family, your time frame, and your budget. Then factor in the costs that it will take to make necessary repairs, so that you know what you are getting into before you make that offer!
4. Make your offer! Your agent will now process the required documentation and submit your offer to the lender. This can take some time – it might be weeks before a short sale offer can be accepted.

Buying a short sale can be a time-consuming process, but can also be a very beneficial way to get the home you want for the best possible price. If you have questions about purchasing a short sale home, contact the Tello Team today to see how we can assist you at 954-237-0600! We’re ready and willing to help you and your family with all of your real estate needs!