Archive for the 'short sale' Category

BofA Banks on Real Estate

Friday, March 23rd, 2012



Bank of America Legacy Asset Servicing Executive said, this pilot will help determine whether conversion from home ownership to rental is something our customers, the community and investors will support . Id like to take that one step further and commend BofA on ceasing the opportunity to not only allow homeowners to remain in their homes but help expedite the transfer of over leveraged properties in a civilized fashion with minimal pain & distress. Ultimately the investors who end up with this real property will realize significant gains in time.

Only 1000 homeowners will be invited by Bank of America to take advantage of this pilot program.. or foreclosure alternative. There is a specific list of criteria which includes but is not limited to the homes must be owner occupied, delinquent for a minimum of 60 days and several other qualifications. 



While there are some Debbie Downers out there writing about how home sales slipped in February it was a very slight slip to a seasonally adjusted 4.59 million according to the National Association of Realtors. Some say it was the mild winter, some say the stronger job figues, some say it was the return of the stock market, some say its just time buyers are tired of waitingI say it was the perfect stormin a good wayit was all those factors and more that has lead national stats as well as local stats on real estate transactions to the best winter since before the collapse. Here at T&C its our best winter EVER!




Short Sales: See how it can help your situation – as a seller or buyer.

Friday, March 13th, 2009

Fact: More and more people are having trouble making ends meet, and are undable to meet their mortgage obligations. Some people have been served foreclosure papers and a "Lis Pendens" may have been filed. Terrifying stuff, the prospect and misery of loosing your house, and as if that is not enough, ruining your credit for a decade to come or more.

Town and Country can help, there is a bright side: there are other people who are looking for value in the housing market, who have cash ready to go to purchase your home.

The wild card in this process are the banks and how to deal with them.  To help people who owe more on their mortgage than their house is worth, and who are financially so distressed that they cannot keep their mortgage payment up,  a good real estate broker knowledgeable in the field of short sales can bring these two groups of people together and -for the people in trouble- help them take care of a serious financial problem, lift the burden, and prevent catastrophic damage to their credit. 

Town and Country, following up on very succesful seminars in Hampton Bays and East Hampton, is holding its next Short Sale Seminar on March 19, 2009 in Southold, 7pm (VFW Hall-corner Rte25/Tuckers Lane)

The seminar on Thursday March 19th will help distressed home owners understand the process better: Attorneys, a banker from Wells Fargo, a mortgage broker from Manghattan Mortgage, several experienced short sale Realtors ™ and a credit enhancement professional will be available to answer questions. Interested in buying? The panel can answer your questions and explain why you need to deal with an experienced Realtor ™ to successfully close on a short sale, and prevent getting unduly frustrated by the process.

Call or email Joan BIschoff van Heemskerck, T&C’s North Fork Director of Operations (Lic. Associate Broker) or 631 948 0234 or 631 765 0500 for more information!


Friday, February 20th, 2009

On Wednesday, February 18, 2009 TCRE hosted its second short sale seminar at Ashawagh Hall, on Springs Fireplace Road in East Hampton.

Purpose of the seminar was provide the most current information available as informed homeowners make the best decisions.The three panelist were:

LEGAL – Robin Long, Esq from Fier & Long PC Attorney

MORTGAGE – Victoria Hohman, Manhattan Mortgage Broker

REAL ESTATE – Elizabeth Missy Capozzoli, Town & Country Real Estate Associate Broker

Robin began and spoke about the current economic conditions that homeowners find themselves in, what a short sale is and how to determine if you would qualify for one.

Vicky suggested seeing a mortgage professional before you fall behind on bills. There are more options the earlier you seek help.

Missy, a certified short sale associate, spoke about how important pricing is in this process because that is what is going to attract buyers, and for the buyers who need to qualify for a mortgage the home needs to appraise for the sale price. 

 Visit Missy’s website: for more info.