Connect Realty

Short Sales or Foreclosure? How is your credit affected?

Wed, 30 Apr 2008 16:57:40 GMT

Homeowners wanting to stop foreclosure are faced with a number of options, one of which is doing a short sale. Sometimes, depending on a person’s situation, they may allow a property to go into foreclosure instead of attempting a short sale. Many times the foreclosure is a result of not knowing one’s options and in other incidences the bank just will not cooperate. However, by accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes. The primary consideration above all is the affect both can have on your credit score.

So how does a short sale basically work? The design of a short sale is really simple. A short sale happens when the sale proceeds of a house are not enough to pay what the owner owes on the mortgage or debt on the property. Many lenders or lien holders will agree to accept less than what is owed from the homeowner and forgive the shortage on the mortgage or lien if the owner was financially incapable of paying. Beware and be warned that not every lender or lien holder will negotiate. If your payments are current or the lien holder believes that you have the ability to pay, then most lenders have no interest in negotiation.

Another consideration is tax liability on the difference between the sale amount and the original loan amount. Although President Bush signed Mortgage Forgiveness Debt Relief Act of 2007, it is always advisable to seek legal advice when doing a short sale transaction. Short sales require much patience and strong nerves.

So then what destroys my credit the most? Foreclosures, without a doubt will incur more damage on a seller’s credit report than a short sale. Typically your credit score will take plunge between 200 to 300 points in a foreclosure. Short sales have a far less damaging affect on a credit report. Credit scores typically lose between 80 to 100 points. Down the road it takes around three years after a foreclosure before a lender will offer a sensible interest rate, whereas for a person who went through a short sale typically waits around 18 months to buy another home at a good interest rate.

Salvaging your credit should always be the primary concern when making the decision between a short sale and stopping foreclosure. The savings in interest payments alone should be convincing enough for most people, not to mention your buying power in the near and distant future.

Short sales are not an easy process to complete and there are many things to consider when doing a short sale. It is suggested that one should use a professional when buying or selling a short sale. A realtor specializing in short sales is an excellent starting point. If you are in a situation where you believe that you owe more than what your place is worth and just can not afford to pay your mortgage. Call a good realtor for advice and help.

Jason Gobeli of the GoBelly Group of Connect Realty can be reached at 877 SOLVE THIS

(that's 877-765-8384) or you can email him at gobeli@connectrealty.com

Press Release: Jason Gobeli of GoBelly Inc and Connect Realty Release New Book “The Wealth Plan”

Sun, 09 Mar 2008 19:30:07 GMT

The book many have been waiting for has finally arrived ‘The Wealth Plan’ by Jason Gobeli was recently released to the public. The Wealth Plan’ is a no nonsense, straight forward approach to attracting wealth which first starts in the reprogramming of the misinformation embedded in our belief systems.

In this book Jason discusses the values and mindsets that we hold dear that are counterproductive. These self defeating flaws in our belief system need to be shattered if we are to attain real wealth. Jason handles such topics as education, jobs, business, money, savings, credit and more.

What makes this book really special is in his spiritual approach to these issues. Not only is change discussed in his book. Direction for that change is clearly present. This is just not another how to book. This book shows you specifically where to go and what to do in order to achieve your goals.

This book is written by Jason Gobeli of Gobelly Inc and the GoBelly Group of Connect Realty. He is a married father of 3, a realtor and real estate investor, an ordained minister, a consultant, teacher, entrepreneur, business owner and a highly respected nationally recognized speaker. He has a proven track record that speaks for itself.

He has extensive experience in real estate, sales, marketing, management, training and motivation. He started GoBelly Inc. from the ground up. He has numerous experiences implementing sophisticated creative real estate transactions nationally.

Using Jason's wealth of knowledge' his corporation has completed both purchase and sales transactions with no money down, cash back at closing, as well as the purchase and sales of notes. They have done transactions through trust, leases options, foreclosure and assignments. Flips, fixers and short sales are also areas of experience.

Jason is currently writing another book ‘The Thing of Value" which should break print this summer. Jason Gobeli has a passion for changing lives and teaching others how to acquire real wealth. Jason is also the leader of the GoBelly Group of Connect Realty. The GoBelly Group of Connect Realty is an explosive organization of realtors who make more money working together as a team than they could have ever imagined as individuals. ‘Cutting edge technology meets a good old fashion positive mental attitude.’ is their motto.

Do yourself a favor, order this book and read it immediately then follow the directions in Jason Gobeli’s ‘Wealth Plan’. You deserve to achieve your goals.

You can order this book online at http://www.gobelly.com/ebook.

You can contact Jason Gobeli directly at gobeli@connectrealty.com.

A Realtor's Dream

Tue, 04 Mar 2008 02:39:38 GMT

Would you like to build your own real estate empire in 2008? You can build a multi-state real estate sales team with Connect Realty, a new $200 million company that is creating a paradigm shift in the industry!

More information can be found on www.gobelly.com/connect

Connect Realty, a Houston-based $200 million company started by the Canion brothers who founded Compaq Computers and merged it into Hewlett Packard, is indeed creating a paradigm shift. Connect Realty plans to become the largest residential real estate company in the world! As I said above, they have already raised $200 million for this venture and that is before they go public! Stock options will be available for top performers. True wealth is built through stock options!

Please note that you can earn up to three levels of overrides - available to brokers AND real estate agents. The exponential income potential in building a team in your state as well as others and receiving such overrides is huge!

The Canion Solution

Become the Largest Residential Real Estate Company in the World

Decentralize the Franchise Model

Offer Higher Paying Contracts (80% +5% +5% +5% +2%)

Offer Better Training (Top People in Nation)

Offer Lower Overhead (No Franchise Fees, No Desk Fees, No Fees)

Offer Better Internet presence (80+ Search Engines, Virtual Tours, Video E-mail etc.)

Offer Leverage capabilities without becoming a broker

Offer Stock ownership to the best and the brightest

For quick overview: Phone Number: (877) 765-8384

More information can be found on www.gobelly.com/connect

My company is seeking a few entrepreneurial leaders to help us develop the market in several states. As long you hold a real estate license in one state, you can build a real estate team in multiple states without being a broker or obtaining a license in multiple states.

Even better, we provide you with F.REE leads of other real estate agents who have specifically inquired about this company. If you can capture the vision and act upon it, you can build your own multi-state real estate empire along with us!!!

Please contact me with any questions that you might have.

To Your Success!

Jason Gobeli

CEO

GoBelly Inc / Connect Realty

877 SOLVE THIS
(877) 765-8384

Connect Realty Seeking Top Agents and Brokers in Nation

Tue, 26 Feb 2008 06:32:56 GMT

If you are a Real Estate Broker, Associate Broker, Top Producing Agent or even new to the real estate business, we want to talk to you.

Connect Realty is now performing confidential interviews.
http://www.gobelly.com/connect

Connect Realty is the fastest growing Brokerage in the world with just over 1000 Agents and growing daily. We are currently doing business in seven states and will be a worldwide real estate company.

We offer...
No office or franchise fees
No Fee... Fees, from Connect Realty
No Commission Roll-backs
Top commission for seasoned professionals
http://www.gobelly.com/connect

New Agents receive an immediate 70/30 commission split on their first 5 transactions, after that 80/20 + you will be provided all the training and support from an experienced real estate professional to Mentor you on the path to success.

Did we mention you can also build residual income just by helping Connect to Connect with other professionals like yourself.

Innovation and new ideas which will transform real estate for Buyers, Sellers and especially Real Estate Professionals.

The corporate office is located in Texas and the Founders are some of the most successful business owners in history. All interested candidates will be invited to a private Webinar that will tell the amazing Connect Story.

Qualifications:

Must be licensed somewhere within the US or be licensed within 30 days from joining Connect Realty.

Thanks,
Jason Gobeli
http://www.gobelly.com/connect

GoBelly Group of Connect Realty
877-765-8384