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foreclosure: Short Sales - are you in it for the right reasons? Are your clients adequately represented? - 03/29/10 01:08 PM
This has been a topic on my mind for a while. I have been 'specializing' in short sales in the last couple of years, out of necessity. But it's not what you think. It's not because of all the "get rich," "profit from short sales," and the "new commission stream" emails I get from all the companies pitching their programs, certifications and products related to short sales - I got into this segment because the CLIENTS truly deserve someone who not only cares and is educated, but who is doing it for purely the right reasons.
I can't advise clients … (1 comments)
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foreclosure: Wells Fargo: "they don't talk to us" & "giving us the run around" - 01/28/09 09:21 PM
Here is an email I received this evening. Unfortunately it is not unusual and I frequently get emails, calls and comments on my blogs from frustrated homeowners seeking HELP from their lenders. Here's one that clearly wants to keep their home. I don't know their situation, but surely if Wells Fargo has had their package since December, Wells Fargo would be able to tell them definitively if they can help or not, right? Well, at least you'd think so.
SO now, intead of saving their home, they want to do a short sale. Unfortunately, they are not in an area I … (17 comments)
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foreclosure: Wells Fargo / Wachovia unveiling new loan modification program - will it help? - 01/27/09 10:29 AM
For Wachovia customers in danger of losing their homes, Wells Fargo is announcing a new program to help Wachovia customers in danger of losing their homes in foreclosure. As outlined in an article today in Forbes, it is noted they will provide a reprieve thru the end of February for almost 500,000 borrowers possibly eligible for a modification program.
"Wells Fargo said 478,000 Wachovia customers, with loans totaling about $120 billion, will have access to the program, though San Francisco-based Wells Fargo said it was unsure how many customers would take part.
The customers within this portfolio that are being referred to foreclosure … (12 comments)
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foreclosure: Bank of America Short Sale Approval in TWO Weeks? Its not what you think . . . - 08/08/08 11:39 AM
I was surprised, out of the blue, to get a short sale "approval" letter for a property who's package only got into processing with them 2 weeks ago.
This is a second loan on this property. A little over 300k is owed on it.
I was surprised that the letter said:
"Bank of America agrees to accept $320,000 in certified funds as settlement in full of this loan. Upon the bank's receipt of the payment of $320,000 the bank will release the the lien on the above property."
Yes, don't be blinded by the approval part of this letter, take note … (15 comments)
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foreclosure: Washington Mutual Alert- They've crossed the line big time ! - 07/30/08 07:34 PM
So as you may have read over on Mike Mueller's blog entry (WaMu Locks Single Mother Out of Her Own Home), today I had a horrible phone call, the kind you don't want from a client. Someone had changed the locks on her house! We are in the middle of short sale negotiations right now. We are close, they've ordered an appraisal , we're getting there and wow, what a shock to get this call from my client.
For those of you who are, or have ever, done a short sale with WaMu, you know they are notoriously slow to react, slow … (29 comments)
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foreclosure: Short Sale vs. Foreclosure - When to seek PROFESSIONAL HELP! - 04/24/08 03:29 PM
YOU need professional help!
. . . on the decision to foreclose or short sale that is. You must seek counsel of an experienced real estate professional, a qualified tax professional and/or an attorney before making any decisions as to whether to foreclose or attempt a short sale. Both can have pros, cons, consequences and benefits. Believe it or not, sometimes foreclosure is the right answer. Often a short sale is the best solution as it enables you to negotiate up front with the lender for any future recourse.
Logistics - there are distinct differences as to how your occupancy of your … (1 comments)
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foreclosure: MOST people won't owe taxes ? What ? - 04/02/08 10:27 AM
So you're an agent, you've done a few successful short sales (or worse, you've never done one)... and voila.. you're the expert. Right? Well, I want to challenge that ... There are now a plethora of new training companies out there now... pay me, I'll show you how to do a short sale. Pay for my seminar and I'll give you the tricks of the trade. These often look like everyday agents realizing they can make a buck on training others. Frankly, that's great, real estate agents can always use more information, more training - no problems there unless you don't know … (9 comments)
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foreclosure: So you want to be a short sale specialist? - 02/02/08 01:46 PM
I always hesitate to call myself a specialist in anything, as there is always so much more to learn about any subject, can any of us ever be truly a "specialist?" Does calling yourself a specialist hold you to a higher standard? I think so. Short sales are the new niche of the day. Many agents are trying to work within this growing market segment. But be careful.
What made me think about this blog post are the agents I talk to on a daily basis representing sellers on short sales, that really have no idea what the ramifications for their clients … (11 comments)
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foreclosure: The unintended victims of foreclosure: THE PETS - 12/22/07 10:22 PM
Our local paper today ran a heartbreaking article today about the pets that are being left behind when homes are foreclosed. Since some are forced out in sheriff evictions, or moving to a "no pets" rental, it must be that the former homeowners feel they have no choice. Agents specializing in foreclosures are finding pets left behind, sometimes locked in the homes, sometimes outside, but alone (or already dead) nonetheless. We all know its bad enough when we see the end result of an eviction after foreclosure. Kids toys, evidence of good family times, all remind us that a family has lost … (15 comments)
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foreclosure: FREE Housing Resource Fair for Contra Costa County residents - 11/10/07 03:07 AM
The Mt. Diablo Housing Opportunity Center (http://www.mtdhoc.org/) is offering a FREE housing resource fair on Saturday, November 10th from 10am to 3pm. Official representatives from local cities will be on hand to provide information about housing programs in Concord, Walnut Creek, Pleasant Hill and Martinez. You'll be able to also find information about credit, first time buyer programs, senior programs, community outreach programs, foreclosure preventation and much more. There will be various presentations all day, and from their flyer you can expect to see the following:
11:00am Senior Housing Rights11:30am Foreclosure - ways to save your home (for more on this topic … (0 comments)
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foreclosure: Short Sales in Contra Costa County - a checklist - 11/10/07 02:34 AM
Many homeowners in Contra Costa County are facing some very difficult decisions. Some are behind in their loan payments and some are upside down and owe more on their mortgage than their home is currently worth in today's market. Terry Osburn and I have teamed up to provide these homeowners with guidance and information in order to navigate the rough waters of a short sale. To that end, we have launched a new blog to offer resources and information for those considering a short sale as an alternative to a foreclosure action. Check out Contra Costa Short Sales. We offer confidential consultations to … (0 comments)
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foreclosure: Bay Area Top Foreclosure Cities - 06/20/07 12:31 AM
CNNMoney.com just put out an article naming the top 500 zip codes in the country for foreclosures. Not surpisingly, several zip codes right here in the East Bay were on this nationwide list. In the Bay Area as a whole, Antioch, Brentwood, Vallejo, Pittsburg and San Pablo made the list. Further out we find Tracy, Stockton, Fairfield, several zip codes in Sacramento and many zip codes surrounding Sacramento from Roseville to Elk Grove. In fact, more than a quarter of the zip codes on the list are in California. Just a couple years ago it was something we hardly ever saw, … (0 comments)
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Catherine Myers, Walnut Creek, CA Real Estate
Walnut Creek,
CA
More about me…
Windermere Bay Area Properties
Address: 1981 No Broadway, Suite 120, Walnut Creek, CA, 94596
Cell Phone: (925) 683-2125
Email Me
Real estate news, home for sale listings and market updates. Short sale listings, foreclosure and REO information. Contra Costa County. Specializing in Contra Costa relocation near and far.
Contact me at 925-683-2125 or at www.DiabloValley.net Get great free widgets at Widgetbox!
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