Foreclosure Law Summary

SB 216/HB 365 – Foreclosure Process

• Requires a mortgage or other security instrument on residential property to contain the license number of a mortgage originator or mortgage lender. This provision would allow regulators to track which mortgage providers have the highest foreclosure and default rates.
• Prohibits filing an action to foreclose on residential property until the later of:
  • 90 days after default
  • 45 days after the “Notice of Intent to Foreclose” (Notice) is sent
• Prohibits the foreclosure sale from taking place sooner than 45 days after the service of process containing the Notice. This means that a foreclosure sale could not occur sooner than 135 days after default.
• Requires the Notice to be sent to the mortgagor and record owner at least 45 days before filing an action to foreclose.
• Requires the Notice to include information regarding the security instrument, including the debt due, the rights of the individual facing foreclosure (including the right to seek housing counseling or consult with a real estate licensee). The Notice encourages the person in default to act quickly.
• Gives the person in default the ability to cure the default by paying all past due amounts and reinstate the loan up to 1 business day before the foreclosure sale.
• This act is an emergency measure which takes effect April 4, 2008.

Everything that irritates us about others can lead us to an understanding of ourselves.

Pitfalls to overpricing your home

It will take longer to sell: Time costs money. Property priced
over appraisal takes longer to sell.

You will have fewer showings: Real estate agents hesitate to
show over-priced listings.

You will receive lower offers: The longer your property is on
the market the more it appears there is something wrong and
buyers will make lower offers.

Your property will help sell other properties: If your property
is overpriced, it will be used as a springboard by buyers to
compare with similar properties. Your property will make these
comparable properties look like a steal.

Can’t get a loan: Even if property sells over the appraised price,
the bank won’t finance and will tell the buyer why.

If you would like a free no obligation consultation on how to
accurately price your property in order to avoid these pitfalls,
contact me.

Success means never letting the competition define you. Instead you have to define yourself based on a point of view you care deeply about.

Accept Complete Responsibility

When you take complete responsibility and accept ownership, without making excuses or blaming others, you experience a sense of control that leads to the personal power that is the foundation of charisma. When you look like a winner in every respect, when you have the kind of external image that others admire, you build your charisma. When you develop your character by setting high standards and then disciplining yourself to live consistent with the highest principles you know, you become the kind of person who is admired and respected everywhere. You become the kind of person who radiates charisma to others.

One worthwhile task carried to a successful conclusion is worth half-a-hundred half-finished tasks.

The Sweet Smell of a Successful Sale

Scents and aromas can have a dramatic impact on people’s emotions, otherwise, there wouldn’t be a multi-billion-dollar fragrance industry!Don’t ignore the power of fragrance when showing your home. Smoke, pet odors, and cooking smells can each dramatically impact how potential buyers feel about your house. If your potential buyers never form an emotional connection to your home, chances are that they will remain just that – potential buyers. Don’t allow smoking in your house for weeks leading up to showing it, find a pet-sitter for a few days, and clean, clean, clean! Once you’ve removed any aromas that might be off-putting and freshened the air in your home, you can actually use scent to your advantage. Consider doing some baking prior to showings. The scent of fresh apple pie is hard to beat when it comes to creating the atmosphere of a welcoming home! TIP: In a pinch, a mixture of water, vanilla extract, and brown sugar in an oven on low heat can be used to create the pleasing aroma of fresh baking. To a certain extent, buyers make purchase decisions based on their emotional response, so it’s important to make it easy for them to fall in love with your home. Pleasant smells are one more way to do so.

 

www.baltimore-realtor-gregmoses.com       www.rentals-baltimore.com

How to remove those unwanted stains when selling your home.

Stained but not forgotten…

Whether it’s a splash of salad dressing, a drop of barbeque sauce, or a full assault of coffee, stains happen. They happen to the cautious as well as the careless and usually when we least expect it.These tips are for washable fabrics only. Always test for color-fastness in an inconspicuous spot first.Here are a couple of quick tips I’ve gathered: Red Wine Salt is great for “holding” red wine at bay until the item can be washed. This has saved countless pairs of jeans and blouses. Makeup Shampoo is great for getting out cosmetic stains. Grease WD – 40 is great at getting out greasy stains (salad dressing, lipstick and butter). Spray on the stain, wait about ten minutes, and work in undiluted dishwashing soap – launder in the hottest water possible for the fabric.