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Larry Damiano -My ShortSales and Foreclosure Blog
Saturday, 9 April 2011


SHORT SALES are becoming more streamlined as some lenders

are getting their ducks in a row   with the aid  of various government

programs.  BUYERS are able to pick up properties at lower prices

I specialize in getting Buyers into distressed property with built in value.

Prices are the lowest since last decade in Fort Myers, Naples and

Bonita Springs , Florida . 

Because our team can SLOW DOWN   or STOP FORECLOSURE  by  sending a cash offer to the Bank and Buying the property , all parties WIN!

 Even if you have tried to sell your home or list your home with a

Realtor and it expired , you can sell your home easily  even if your

upside down  , if it's done right  and there is NO COST or FEE !

Even if your credit is bruised  because of near loss of your home

Private lenders are willing to help and STOP your Foreclosure

and get you into a new home !

for more information  go to

or e mail  LLDLLD@AOL.COM

or call   239-298-2392




Posted by Mortgage Larry at 12:37 PM EDT
Updated: Saturday, 9 April 2011 12:43 PM EDT
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Thursday, 20 January 2011
2011 Promises to be Challenging but Successful for REAL ESTATE


Just met with SwFl Invesment Assoc   headed by Jeff Tamburello

Jeff is a statistics fanatic when it comes to Real estate trends in our

area , especially Ft Myers-Cape Coral- Lehigh.

According to the numbers , he says , Foreclosures have slowed down

Sales and Prices in Lehigh are booming, with insurance companies

scrambling to get coverage to homeowners .   Housing is affordable

and Investors are taking advantage of it . 

In 2010,  41 % of the Sales in LEE county were  REO properties

16 %  were  Short sales  and the remaining  43 % were normal Sales .

 Jeff has been there before and , of course,  believes that the Real

Estate  Market is cyclical.   With prices low , mortgages affordable 

and Rentals in demand  it is a Buyers market, he says . 



Posted by Mortgage Larry at 8:48 AM EST
Updated: Thursday, 20 January 2011 9:03 AM EST
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Friday, 31 December 2010
How was your 2010 ?


Like  most people do at this time of year , our staff was reflecting on the happenings of the past year , the ups  the downs  and the lessons we have learned .   As a country the USA  has faced  monumental problems that have only been paralled just a few times in history .

What has happened  and is happening is a globalization of the economy , some say by chance , some say as a calulated plan .

 Americans  still have one of the highest standards of living in the world . As many  elsewhere are struggling to find their next meal  ,  an average American childs idea of doing without may be having to deal with a limited texting plan .

We have met with many families this year and have met the goal of making their life a little better , providing stability of shelter ,

peace of mind and a goal for the future .

I have met with many leaders and bright thinkers in the Mortgage and Real estate industry to be informed of concepts and startegies that can help individuals and families in these trying times .

Surround yourself with companions that are open to listening and deciding for themselves, and plan   what can be in store for your future .   I give you this definite gift of hope for the New Year.

Although you will find those among you that are negative with every suggestion,  the families we have helped in the past year are living proof that   Loss of job , FORECLOSURE , SHORT SALES and BANKRUPTCY  may have ended the history of  a house in their life , but the HOME still lives on . 

Posted by Mortgage Larry at 1:31 PM EST
Updated: Monday, 3 January 2011 8:34 AM EST
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Wednesday, 8 December 2010

Any one looking to buy a House or Condo right now


knows that its a buyers market .  CASH is great .  But  financed buyers

 must  have provable income  .   FHA buyers must have 3.5  %down

 (SOME Properties are not eligible for FHA)


and FNMA buyers  perhaps  20 % down , 25 % down  for condo's  and

perhaps 30 %   down for a property to be used for investment . 


Therefore if owner financing or an assumable loan is available

a buyer may be able to get in with easy terms .


 Let's assume

Two homes identical   side by side

one  Seller wants  $  200000.  (GET YOUR OWN FINANCING )

the other seller  wants 215000.  ( ALTERNATIVE OWNER FINANCING)


if you could , go to the bank and buy the first home   Payment

1043.29  at today's 4.875 (?)  per cent   NORMAL CLOSING COSTS


 OR  own the second home at 1220.74  per month  assuming 5.5 %

interest rate     .    NORMAL CLOSING COSTS


   OR you can rent   or wait until your credit gets better

and/ or    banks get easier .     WHAT WOULD YOU DO ?


Posted by Mortgage Larry at 2:23 PM EST
Updated: Saturday, 11 December 2010 2:23 PM EST
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Monday, 15 November 2010

Most Lenders are now cooperating in the short sale  process

if you are working with Knowledgeable Short Sale agents

you should hear from the Lender with responses in 2-3 weeks

but it really depends on the lender.


Their are many methods and short cuts to help  close a transaction

Short Sale processes should not just  be  communication back and forth

between Lender , Seller and Buyer.  Mortgage Foreclosure Defense by the

homeowner plays a critical role in sucessfull shorts sales .

Don't let the Lender steam roll you !  for more information

contact me at  239-298-2392    or visit  our foreclosure/short sale info page


Posted by Mortgage Larry at 10:36 AM EST
Updated: Monday, 15 November 2010 5:01 PM EST
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Wednesday, 27 October 2010
Short Sale Purchase Contract rejected by Homeowner?


Recently i represented a cash buyer who wanted to purchase a house that was a Short Sale .  The balance owed on the mortgage

was perhaps  $  500000    ,  the value was   240 K or more ?

and our offer was much lower .    Surprisingly  I did not recieve a response from the homeowner ( thru the Real Estate Agent)

After repetitive calls  I finally reached the Agent and she told be the homeowner was advised of the market value of the property and decided to decline the offer.

I was flabergasted !  First of all I had done my research. The Home was months away from foreclosure  one of the two owners had recieved a default judgement and it was a matter of weeks before the other would ( at worst thru Newspaper Publication ) . 

The  Home had been on the market for quite some time with no contract  and with Mortgages and Values uncertain it would be fairly difficult to find a buyer,  let alone a cash buyer .

I sent an e mail to the agent  asking for a counteroffer  and to this day i have not heard back .

In my experience , once a offer is submitted to the bank  , it may be a process but usually with negotiation and persistance , I have been able to close transactions at sometimes as much as 20 % less than

the banks initial asking price.    you can't have a sale  if you don't

submit a short sale offer .  Correction ,  the only sale you will have

is   a Foreclosure Sale at the Courthouse Steps . 

Benefit from my experience   call  239-298-2392

or visit   www.  e sell my home .com

(no spaces)




Posted by Mortgage Larry at 10:20 AM EDT
Updated: Wednesday, 27 October 2010 10:39 AM EDT
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Wednesday, 13 October 2010

In the news is the revelation that banks are halting foreclosures because they are having problems with proper documents being filed in order to foreclose on a property correctly and legally.

In reality the documentation on most of these loans is impossible to track so instead----- the present lender " promised" that everything was in order. That is a legal no-no but 90% of foreclosures go unchallenged , meaning the borrower does not answer or show up in court . That is an automatic win for the Bank .

Why is documentation impossible to track ? Because Banks were loosely guarded from 2000-2007 thanks to a bill sponsored  by

Former Rep Phil Gramm from Texas in 2000 .  Banks were allowed to relax existing laws and combine and convert and invest and wrap and sell to Wall Street  unchecked and lots of people made a lot of money.   NOW Mr Gramm is President of  USB BANK .  Sound all to familiar ?

If you would like a forensic audit of your loan documents , information can be found so that you can have leverage against the bank

Contact me at  239-298-2392   or e mail

or for more info go to


Posted by Mortgage Larry at 11:32 AM EDT
Updated: Wednesday, 13 October 2010 11:53 AM EDT
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Wednesday, 15 September 2010

I recently was representing a buyer for a condominium .

because of the short sale situation , there were over  $7000 in unpaid association dues .

there has been a new law passed in Florida which is to aid the

HOA's  in trying to collect more money from absentee owner's

and collect money directly from tenant's too .  One of the more

important points is  that  usually after a foreclosure when the bank

becomes the owner , the bank was protected as to how much they

would owe the association . The cap has been riaised from 6 months dues to 12 months dues OR  one percent of the mortgage balance

being foreclosed on .

 So for instance if a homeowner pays

3200 in maintainance fees per year   and they have not paid

in two years they would owe 6400 in maintenaince fees plus late charges lawyers fees etc .    if you sell your home on a normal sale

the HOA would have to be paid  in full (or settled with ) .

If a Bank gets the home in foreclosure or a Deed in Lieu of Foreclosure   , the bank is only liable for one year of assessments

BUT if they foreclosed on a 100000 mortgage loan

the cap  would be  1 %    or equal     $1000   for the association .

This is another example of the favorable treatment Banks are getting

from lawmakers.

Unfortunately ,  your  Condo Association representatives are just as

mislead on their views and understanding of viable solutions .

BUYERS are being charged non refundable  upfront fees of as much as $350 just to be able to find out from Attorneys representing associations how much is owed.

If policies were in place to be buyer friendly  perhaps many of these

properties would not go to foreclosure . Perhaps more units would

be a revenue producing units for the association and the rest of the

homeowners.  remember the shortfall of income must be a shared  burden by the remaining paying residents.

talk to your association representatives about what policies are in place in order to gain maximum revenue for the association .

The quick highering of a condo attorney  (and their fees) may become more of a burden  when a condo goes into foreclosure and

outstanding balances are reduced  by the (new) Law

Posted by Mortgage Larry at 9:52 AM EDT
Updated: Wednesday, 15 September 2010 10:15 AM EDT
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Tuesday, 31 August 2010

Please write an account of your short sale/modifcation/foreclosure 

experience with various lenders  and how it turned out or the status .

use initials not full name of any individuals

Posted by Mortgage Larry at 8:11 PM EDT
Updated: Tuesday, 31 August 2010 8:13 PM EDT
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Friday, 27 August 2010


I talk to alot of people about their house , thier job, their expenses

and why they can't pay the mortgage anymore.  I also hear a lot of lender horror stories .  The best stories i have heard ( from the homeowners point of view)  is when the lender does nothing ,

This usually gives them time to figure out what to do ,  and save money  up .  The worst stories i hear is when the lender gives them false hope , leads them on a promise of lower payments while on the other end suing them for foreclosure  all the while the  "HOME Retention Dept "  is freezing them into inaction with false promises.

Unfortunately the Banks are getting faster at foreclosure and our court system isn't helping the consumer . ( google ROCKET

You must defend your rights while you are in Default .  A phone call

or a letter about your tough times will only leave you homeless.

You need more time to accummulate money for a new place to live .

We have come up with a serious plan to do that. With the aid of DEFENSE and Bankruptcy Lawyers  , you can sell your house at your pace and save money to live somewhere else . Contact us for more details or visit



Larry Damiano





Posted by Mortgage Larry at 7:49 AM EDT
Updated: Friday, 27 August 2010 8:09 AM EDT
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