short sale: Not enough equity to sell your property.... and cover the closing costs! Ask for a Short Sale! - 11/23/09 08:22 PM
If you are wondering if you can ask for a short sale from your lender if you are not really under water, but want to sell your property to get out from under the mortgage, you would not be able to get enough out of the sale to cover the closing costs. … (1 comments)
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short sale: What is a Short Sale? - FAQ's - 11/18/09 08:37 PM
Here are some good questions and answers about Short Sale and the process. All homeowners should read this.
Rosemary Brooks
Patrick Williams & Associates
Via Kenny Wagner (The Foreclosure Mitigation Company):
**This is part of a short sale packet that was given to me by my short sale trainers … (0 comments)
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short sale: Homeowners: BEWARE! ...The bank wants to know what's in your wallet - and how they can get it from you!... be careful about signing deficiency notes! - 11/18/09 01:18 PM
Homeowners do you really want your bank account(s) frozen? Do you need another hardship after short sale? Or will you have to hide your money under your mattress to keep it warm?
This is what can happen after the short sale and after you have signed a deficiency note that the … (4 comments)
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short sale: REO Trans for Short Sales? - 11/17/09 11:26 PM
I am re-posting this because it is the up and coming new process. In order for the word to get out, the process, the rules and guidelines -- we must inform other agents, homeowners and buyers.
Well worth re-blog.
Need a short sale agent in the Central Valley: San Joaquin/Sacramento/Stanislaus/Merced/Alameda/Contra … (5 comments)
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short sale: The Media is Finally Talking About Short Sales!! - 11/17/09 11:05 PM
This is a real good short sale source. The media should focus on short sales to help get the banks to moving on approving them at a faster pace. Short sale deserve to get media attention at this point. This is a great post and well worth re-blog.
If you … (0 comments)
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short sale: The trials of a short sale! - 11/17/09 10:52 PM
The woes of short sales... continues.
Via Joni McClintock, CRS (Sundance Realty):
I have recently been working with a client in a short sale for her home. She has not been behind in payments up to this point, but she has not been able to get any offers on her … (0 comments)
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short sale: Nine Options When Facing Foreclosure - 11/15/09 10:52 PM
This is pretty handy list of options for someone facing foreclosure. I always advise to check with your lender to see if there are these or other options that you may qualify for - since things are changing so quickly in this crisis times.
Also, if you have a Fannie … (2 comments)
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short sale: Are you under water? Check out Fannie Mae's new Deed for Lease program - 11/14/09 02:18 PM
I am re-blogging this one, good information for homeowners that are not ready to just up and move out and don't mind renting from their own property ----> well, it won't be their property anymore once they sign over their deed! But you will have roof over your head that … (2 comments)
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short sale: Homeowners: I cannot/will not tell you to..... go default (or STOP Paying YOUR MORTGAGE)! I would be out of line... - 11/14/09 01:50 PM
Dear Homeowners
This letter is let to you know that I appreciate your calls because it is sign that you are searching and finding my name on the web, blogs and I know you can find me on ActiveRain. But because some of my callers are putting me in a bad place with … (10 comments)
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short sale: BUYER: Settlement Procedures Act & AB 957 - Buyer's Choice Act - 11/14/09 12:05 PM
As I posted previously.... Buyer's now get a choice, thanks to Real Estate Settlement Procedures Act and AB 957 Buyer's Choice Act.
When you are purchasing foreclosed properties, you should be getting a form with the wording listed below or something similar. This should be signed along with the offer and … (6 comments)
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short sale: Buyers: Are you Just Out There Making Bids on this one and that one? or... is it the house you really want? - 11/13/09 04:54 PM
Given the market condition, the competition it is really hard on buyers these days to view, make an offer and get the property of their dreams. Most buyers seem to be out there just making bids - to get something. Owner occupied buyers should not be just making bids on any … (0 comments)
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short sale: FHA is back to stay?? ... better find out about the 203k Streamline Renovation Loan - 11/12/09 07:57 AM
FHA is back to stay? Better find out about... 203K (Streamline Renovation Loan)
Qualification/Definition of 203K Streamline: If a buyer qualifies for regular FHA loan (203B); they qualify for FHA 203k Streamline. As long as the loan does not exceed $35,000 in non-structural upgrades or repairs. Questions about qualifications should be … (10 comments)
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short sale: FHA 90 Day Rule can be a deal breaker! - 11/12/09 06:55 AM
For those that out looking to purchase a home that was recently purchased and is now being resold -- this is called a flip. There are rules that are associated with this type of resale if the buyer is a FHA buyer. The investor or flipper cannot sell the property to buyer … (11 comments)
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short sale: Foreclosures & Short Sales: "AS IS - WHERE IS" is not reason to skip the Final Walk-thru! - 11/12/09 05:31 AM
Check it, jot it down now or run the risk of being blamed later!
With so many of the escrow transactions being foreclosed properties that are sold as is - where is - and if you the buyer is lucky there are some minimum repairs that the seller agreed to do. … (57 comments)
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short sale: Buyers: Definition of Short Sale is NOT offer "Short" of Listed Price and expect to get an approval! - 11/09/09 02:28 PM
Low List vs Property Value vs Reality plus the waiting game is what a short sale is all about?
Let me just let you know that agents usually list short sale properties - low - in order to get some attention to that property. They do not list low necessarily because there is … (2 comments)
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short sale: Short Sale Automation... does it mean FAST, SMOOTH and BENIFICAL or / how will it play out? - 11/07/09 07:24 PM
So how can the Short Sale process change where it really will help? I will admit Short Sale Automation does sound good!!! I can't wait to see it work.
After reading that REOTrans has first changed their name and secondly and probably most important: they are taking on automating Short Sale … (2 comments)
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short sale: Need more information on avoid a foreclosure? ....Take in a Local Workshop - 11/07/09 06:40 PM
How to avoid Foreclosure Workshops - connect with your local community services and learn as much as you can about how to avoid foreclosure. Make sure it is FREE and that you do not pay out of pocket for a FREE service!
There are still so many homeowners/borrowers that do not … (0 comments)
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short sale: Late Paying Borrowers ~ get your documents together FIRST... message from Freddie Mae (youTube style) .. click in - 11/07/09 05:37 PM
Isn't it funny how we didn't hear much from Fannie Mae, Freddie Mac and even HUD during the 2004-early 2007 - and now they are in the headlines almost daily! Folks, they are here to stay this time.....youTube style! Click in on it and see how the information can be useful.
… (2 comments)
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short sale: Deed for Lease Program: Helping you Avoid Foreclosure: Fannie Mae adds another Avenue/Option for homeowners - 11/06/09 04:43 PM
Fannie Mae offers - Deed for Lease Program instead of immediate foreclosure. this is another option rather than foreclosure or Short Sale.
If you do not qualify for a loan modification or have failed a loan modification plan you may be in luck to get in this Fannie Mae Deed for … (0 comments)
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short sale: Bank Owned / REO & Earnest Money ~ new twist! - 11/06/09 01:02 PM
Dear Listing agents:
Can one of you please explain to me why it is necessary to have the buyer bring the earnest money deposit to you PRIOR to placing the offer? Is this a way to tie up the buyer's money, with a strong probility that their offer will not be … (8 comments)
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