Short Sales Solutions For Dummies

By SHANNON HICKS

Published: Sep 18, 2009 12:00 am

According to ForeclosureAlert.com, on September 14 there were nearly 350 homes in Fairfield County that were in foreclosure and another 12,600 that were in preforeclosure stage.

Do you know how to keep your home out of either precarious financial situation?

Newtown residents Jeanne Abric and Denise Marr will offer a seminar called âShort Sales for Dummiesâ at C.H. Booth Library on Thursday, September 23, from 6:30 to 8:30 pm. Admission is free but registration is required; call 426-7997 or visit FirstMitigationGroup.com.

First Mitigation Group, LLC, says Ms Marr, is a group of people who are short sale and loss mitigation specialists. Ms Marr is a loss mitigation specialist; Ms Abric is a local real estate agent.

Short sales are those that occur when a bank is willing to take less money than what is owed on a piece of property. The September 23 seminar will cover who qualifies for a short sale and what the process involves, evaluating a homeâs worth, how credit repair agencies and mortgage financing work, and the benefits of a short sale rather than accepting foreclosure.

It is possible, says Denise Marr of First Mitigation Group, LLC, to purchase a home again within two years of a short sale.

âWe will provide all the information [in our seminars] a homeowner will need to process their own short sale or loan modification,â said Ms Marr. âShould they want to hire anyone on our team to help them through the process they may.â

First Mitigation Group fees begin at $1,500 and are based on the complexity of a homeownerâs situation.

Reservations for the Newtown seminar can be made by calling 426-7997 or C.H. Booth Library at 426-4533.

Additional seminars, also free, will be presented on Tuesday, September 29, from 5:30 to 7:30, at New Milford Public Library, 24 Main Street in New Milford (860-355-1191 or biblio.org/NewMilford), and Wednesday, October 7, 5:30 to 7:30, at New Fairfield Library, 2 Brush Road (312-5679 or NewFairfieldLibrary.org).

After each discussion, team members will stay to answer questions. Free informational packets are available to the first 40 people who register for each seminar.

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How do you propose tapping the brakes, Dave? 8-30g already trumps any local regulations- you don't have a brake pedal to push. Brookfield, Trumbull and now Ridgefield have a clear case for a moratorium based on the development (thanks to 8-30g) that has already occurred. I don't see a clear case for Newtown to request a moratorium... yet.

Backs Moratorium On Dense Development Applications

Nobody is suggesting shutting the doors on new neighbors. What neighboring towns are doing, and what we should be doing too, is to tap the brakes on all of the multi-family residential development proposals so that we can spend 6 months updating our regulations such that if you want to build dense residential housing here, XX percent of it needs to be affordable (we will never make any headway on increasing our percentage of affordable housing otherwise, short of 8-30g), and the rest needs to be done in as low an impact manner as possible. Low impact on traffic, health & safety, the environment and on the cost of town services.

Hey, there you go! Richard solved it. Thanks, that seems so easy- we'll just get rid of the 2nd amendment and the Supreme Court. Seriously, the 2nd amendment doesn't create violent criminals or mental illness. The Supreme Court doesn't create violent criminals or mental illness. The problem is not the tools, but the criminals & the mental illness. The state of Connecticut seems to be focused on the tools, like Richard, while ignoring the users of those tools.

Why Gun Violence Is Higher In The US

Ned, please familarize yourself with 8-30G, and then please share the unique flaws that may be helpful in formulating a denial An 8-30g project can be denied only on very narrow grounds – i.e., if it presents health, safety or other concerns that exceed a town’s need for affordable housing. According to the TOG website, “projects cannot be rejected for incompatibility with a Town’s Plan of Conservation and Development (POCD); density; traffic congestion; height; aesthetics; concerns of neighbors or the community; and failure to comply with local zoning regulations.” 8-30g proposals are rarely denied by planning and zoning officials because the burden of proof on appeal is on the town. Appeals are costly, but a municipality can be successful in a court case if it has sufficiently established that the concerns leading to denial are factual and substantive.

P&Z Should Reject Vessel Proposal

The town should certainly measure its performance against the statewide strategies. Unless I missed it I only know of one small cluster of homes that would meet the affordable housing program. Given the 500 or so new units being added in the last 10 years I think that 4/500 would not meet the metric to allow for a moratorium. I mean, fingers crossed for a Christmas miracle but I suspect we will see a few 8-30's sent our way in a method to avoid the Nimby mob. Thanks, Nimby mob.

Discusses Affordable Housing

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Short Sales Solutions For Dummies

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