If you’re interested in working with your bank to accept a short sale, there are many documents you’ll need to gather.  Most banks have a loss mitigation department who’s job it is to resolve problems associated with a defaulted loan.  Most often you’ll be working with a loss mitigation officer charged to help the bank minimize the loss due to a loan in default.  Though each bank has its own guidelines, many banks will not consider a short sale until you actually are late on your loan, and have received an offer on your property. Its vital to have the short sale package of required documents ready so that you can work thru the process quickly.  Most buyers do not want to wait weeks or months to navigate a short sale, so to facilitate a successful sale, get your paperwork in order.  Most commonly, the following items are required:

• Listing contract
• Sales contract
• Hardship letter
• 2 years W-2’s or tax returns
• 2 months pay stubs
• 2 months bank statements
• Recent statements for 401k, retirement, investment accounts
• Financial statement listing current liabilities, assets and income information

At times a lender or loss mitigation department may request additional information and documentation in order to verify the change in the borrowers financial situation and hardship.  Important to note that some of the requested documention may lead to re-verification of your financial status at the time of your loan origination.  And remember, even though you do everything your lender asks, provide all the documentation and obtain an offer, it is still solely the bank’s decision as to whether to accept the short sale terms.  Some find that no matter what they do, foreclosure is inevitable. But that is why, more than ever, it’s vital to have the right real estate professional on your side.

Healthy Home Tips & Green Alternatives for Homeowners

The home buying process is an exciting time, but one that may bring additional responsibilities into your life. Many homes may need renovations or inspections, especially in areas that are susceptible to natural disasters. Having the assistance of an experienced and honest real estate agent will make this process smooth and stress free.

Some older homes may still contain obsolete building materials. Citizens of this great state are striving to move to a green lifestyle, advocating environmentally sustainable methods to be used throughout the state. Building or remodeling your homes with eco-friendly materials can lower utility and water bills, higher real estate value, purer air quality, reduced waste sent to landfills and conservation of natural resources.

Asbestos + Healthy Tips

Asbestos is a fibrous mineral that was used in construction applications for the greater part of the 20th century. Often appearing as insulation, piping, roofing and flooring, homes and buildings could still contain asbestos materials if they were built prior to 1980.  

If you locate any suspected asbestos in the home, most experts suggest leaving it un-disturbed until a home inspector can examine your property, take evaluations and determine the safest course of action. Sometimes the best action is no action at all. Disturbing asbestos in good condition may cause its fibers to be released into the air. The removal of asbestos must be undertaken by a professional abatement contractor who is trained in handling dangerous materials.

Exposure to this material can lead to the development of mesothelioma, a lung ailment associated with asbestos exposure. Though a cure does not exist, mesothelioma treatment options such as radiation, chemotherapy and surgery may be available to patients to battle the disease. Mesothelioma compensation has become tough to predict for victims and their families because diagnosis can take 20-50 years. For this reason, many people refer to it as a silent killer.

Removal of asbestos in public facilities, workplaces and homes should be performed by licensed abatement contractors as long as the National Emissions Standards for Hazardous Air Pollutants (NESHAP) are not violated. They must wear protective equipment such as masks and gloves to avoid any exposure. The materials should be removed in as large pieces as possible and places in disposable bags. 

Green Building Benefits

Each and every human being would like clean air to breathe and crisp water to drink. It takes a lot of effort and political advocacy to achieve this on a macro level. The implementation of eco-construction, green energy solutions will play an important role in the transformation to a healthier and sustainable world. Many locations throughout Alabama are swiftly changing their construction practices to suit the environment and the health of human beings.

There are many green, eco-friendly materials that replace the need for asbestos and can reduce energy costs annually. These include the use of cotton fiber, lcynene foam and cellulose. Cotton fiber is quickly becoming a favorite for home builders and renovators. Made from recycled batted material, it is also treated to be fireproof.  Research has demonstrated that the use of eco-friendly insulation alternatives can reduce annual energy costs by 25 percent.

Implementing green methods of building can have positive environmental, health and economic benefits. These include: Conservation of natural resources, enhancement of air quality, energy sustainability, increase property value, improve quality of life, improvement of pulmonary/cardiac health and reduction of waste.

For further information, contact Jesse Herman with the Mesothelioma Cancer Center at  jesse@asbestos.com