bank of america short sale: Failed Bank of America Loan Modifications are Short Sales in Disguise - 05/30/12 06:05 AM
I was reading a client response letter this morning. My former client wrote, "Elizabeth was excellent and made our short sale process so much better than it could have been. We have heard horror stories . . . " And it made me wonder how does she really know how awful it could have been? I try not to focus on the negative crap in a short sale. I don't always share with a seller every little horrid thing that happens either because I try to spare feelings. But the truth of it is short sales are not always a pleasant … (9 comments)
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bank of america short sale: The Apple Pie of Sacramento Short Sales is No Dessert - 05/26/12 07:37 AM
Imagine you're having dinner at a restaurant. You've finished your meal and are awaiting for dessert when your cell phone rings. So, you excuse yourself from the table, grab your cell and head out to the parking lot to talk. When you come back to your table, everybody is gone, the table is cleared, and the waiter elbows you to ask: "Do you have a reservation?"
You wonder if this is the Twilight Zone. You say, "I just want to eat my apple pie." No, the waiter says you must call a special 800# and make a reservation. Then, they will … (9 comments)
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bank of america short sale: Bank of America Wants You to Do a Short Sale - 05/22/12 07:11 AM
I don't know much about front-loading washing machines except that they use less water (which is great for our environment) and are horribly expensive. I know even less about whether I can stop the machine mid-cycle and open the door. Wouldn't water run all over the floor? But this is something one would want to do if one accidentally locked her cat in the washing machine.
That thought crossed my mind yesterday when I could not find my cat, Jackson. He wasn't in the living room or the family room. I called him and he didn't come. Didn't see him in … (12 comments)
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bank of america short sale: Don't Get Suckered Into Short Sale Mortgage Fraud - 05/19/12 06:25 AM
It's hard to think like a crook. Part of the problem is crooks are often not very smart. I mean, if they were smart, they would think of some other way to make a living than to be a crook. Because there are other options, you know. You don't have to turn to a life of crime to pay the bills.
I'm not talking the guy who shows up to rob a bank and leaves evidence of his home address at the teller's window. Or the burglar who breaks into your home and leaves his cell phone on the kitchen counter. … (9 comments)
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bank of america short sale: Back When Life Was a Bit Easier and Less Stressful Than the Sacramento Short Sale Market - 04/18/12 06:31 AM
The photo you see here was shot by my good friend LadyJake in 1976. She posted this on another site a few days ago. As you've correctly surmised, I am standing in the center. It's hard to believe this was shot 36 years ago when I was working as a title searcher for First American Title in Boulder.
I lived at that time in Nederland, Colorado. And there is a big reunion scheduled this summer for past and present residents of Nederland and Caribou Ranch from that particular decade. The biggest problem is many of us don't recall each other or … (4 comments)
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bank of america short sale: Banks Write the Rules for California Short Sales - 04/17/12 07:37 AM
Interesting blow up at the California Assembly yesterday. AB 1602 was pulled from committee moments before Attorney General Kamala Harris was to speak. That's the bill that says banks can't have their cake and eat it too. In other words, this bill says banks can't consider a loan modification while they are pursuing foreclosure. Of course, the banking industry is against it. Because banks write the rules.
If you don't think banks write the rules, you've been living under a rock or not involved with short sales. As a Sacramento short sale agent, I have first-hand knowledge of how banks write … (14 comments)
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bank of america short sale: Equator Short Sale Agent Certification and an Elk Grove Short Sale Agent Mix It Up - 03/24/12 09:07 AM
It seems that every time I run into a stumbling block with a buyer's agent, that agent hails from Elk Grove. Some of my closest friends work in Elk Grove. Let me also point out that some of the brightest agents in the business work at the Lyon Real Estate office in Elk Grove. Not every agent is inept. But it's like working on a Bank of America short sale -- you either get saddled with a brilliant person or a moron and not much in between. It's probably not Elk Grove so much as it is the competition is fierce … (9 comments)
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bank of america short sale: At What Point Do You Take a Lowball Offer on a Short Sale? - 02/22/12 07:05 AM
OK, I'd like to answer that question by saying never. But that wouldn't be true. Sometimes we take a lowball offer on a Sacramento short sale. But not often. The reason is the market is so hot some buyer somewhere is likely to pay market value . . . or close enough to it for government work.
Agents are all over the board right now. The other day I had a buyer's agent give me peculiar advice about a Bank of America short sale. He swore that he closed a Bank of America short sale in which the bank didn't care … (4 comments)
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bank of america short sale: Proof that Bank of America Listens to Short Sale Agents - 02/01/12 09:04 AM
If you're not part of the solution, you're part of the problem. There is very little in between. Especially when it comes to short sales. As a Sacramento short sale agent, I close a lot of short sales. Our market is inundated with short sales. I've been specializing in short sales for 6 or 7 years now. As a result, I close a lot of Bank of America short sales.
In fact, I am very familiar with how Bank of America processes its short sales. I do whatever it takes to help Bank of America. Not because I am a stockholder … (5 comments)
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bank of america short sale: Should You Do a Short Sale With Bank of America? - 01/23/12 10:19 AM
I get a lot of phone calls from buyer's agents in Sacramento asking me who the lender is on a short sale. They are wising up and realizing that not every agent in Sacramento who lists a short sale is likely to close that short sale except, perhaps, for me. So, their broker has given them a list of questions to ask a Sacramento short sale agent. The problem with this approach is they don't know what to do with the answers they get.
They think multiple loans is a bad sign, which is not true. They hear Bank of America … (3 comments)
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bank of america short sale: Bank of America Makes Another Policy Change for Short Sales - 01/14/12 11:36 AM
Earlier this week I received an email from Bank of America about Bank of America short sale policy. I briefly looked at it and thought HA. Then I thought hahahahha. And I went on to do other things. That's because when I receive an announcement from Bank of America about a short sale program change or implementation, I know it will be a couple of weeks to a couple of months before it is instituted.
But this particular email was strange in the way it was worded. It said due to agent responses, Bank of America was making a change that … (21 comments)
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bank of america short sale: Sacramento Short Sale Approval Letters on the Uptick but Bank of America Could Improve Its SSPCA - 12/16/11 10:15 AM
I've been receiving an inordinate number of short sale approval letters lately. It's really odd for this time of year. For some reason, lenders must be wanting to move into the new year with a big bang. I could see a bank pushing for a closing by year end, but pushing to close next year is peculiar. This is the first year in a long time during which I've received so many approval letters in December for my short sales.
I've heard real estate managers say that the reason agents should work harder in December is because sometimes they close more … (3 comments)
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bank of america short sale: Hello? Hello? Where is My Bank of America Short Sale Approval Letter? - 12/05/11 11:50 AM
It would be nice if things worked exactly the way they are supposed to work, but they don't. Like this morning, I pressed the button to turn on my cellphone and nothing happened. You know the definition of insanity, right? Doing the same thing over and over and getting the same result? I pressed the button again and again. I'm not immune to insanity, obviously. In fact, we're on a first name basis. Hello insanity. Hello Sacramento short sale agent. See, it knows my occupation. That's how intimate we are.
But at least I have some common sense. And common sense … (6 comments)
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bank of america short sale: If You're Having Trouble with a Bank of America Short Sale, You're Working With the Wrong Agent - 11/23/11 10:57 AM
Just because I have a fondness in my heart for doing Bank of America short sales does not mean I favor the bank over my sellers. Sometimes, sellers don't know which side their Sacramento short sale agent is on. But I can assure you that I am looking out for my seller. I do not work for Bank of America. Bank of America does not pay my commission. The seller pays the commission in a short sale.
Oh, sure, you'll see agents advertising that all of their services are free to the homeowner. That's a big fat lie and those agents … (5 comments)
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bank of america short sale: Sometimes It Is Appropriate to Say the Cat is on the Roof and Won't Come Down - 11/18/11 09:58 AM
How do you break bad news? And when is the best time to break bad news? You learn how to handle this when you are in real estate, especially if you are a Sacramento short sale agent. Because not everything is hunky dory 100% of the time. Crap happens. And when it does, you've got to be able to predict it and deal with it.
I have a short sale closing today, among three of them. This particular closing would not be happening today if I hadn't requested an extension. When I asked for the extension, I was 98% certain it … (8 comments)
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bank of america short sale: Will Cuba Solve Its Housing Woes Before America Fixes Our Real Estate Mess? - 11/04/11 10:25 AM
Beginning next week, Cubans can buy real estate. They can buy a home to live in and a vacation home. Of course, they have to get their money from one bank at whatever rates and terms are offered for financing, but how is that any different than the U.S.? We basically have four major banks where home buyers get their money. You think we have myriad of choices in America but we don't.
Every day I wake up to new nightmares in real estate. That's because I am a Sacramento short sale agent. I see a lot of turmoil, confusion and … (10 comments)
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bank of america short sale: Here is the Most Recent Update for a Bank of America Short Sale - 10/28/11 09:59 AM
I attended another Bank of America short sale webinar yesterday. I was hoping for some breaking news but it was stuff I already knew. With the exception of one little piece of information that I bet most other agents didn't catch. And they didn't really say what they are going to do with that. I'm always searching for that little gem that teaches me something new.
Here are some of the highlights; then I'll get to the down-and-dirty part:
Single Point of Contact. The homeowner will now have an individual person to talk to at Bank of America. I suspect this … (7 comments)
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bank of america short sale: I'll Throw a Coin on the Pile for Yanking that Bank of America Short Sale Out of an Auction and Raise You One - 10/25/11 09:51 AM
I'm such a nerd that I routinely read Notice of Default reports. I periodically check the records to make sure that none of my Sacramento short sale listings is headed for auction. I'm not gonna be that Sacramento short sale agent caught with my pants down who gets a call from the REO agent asking if he can take my key out of the lockbox. It's been a long time since I've had a short sale go to foreclosure. My short sales tend to close.
I monitor not only my active short sale listings but also the active short contingent and … (6 comments)
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bank of america short sale: When You're Tired of Playing TAG, YOU ARE IT, in Those Bank of America AMS HAFA Short Sales - 10/01/11 10:48 AM
I feel like I have crawled naked through broken glass. Maybe more like crawling naked through broken glass in the dark without my contacts. Because even though I may have been down this hallway a bazillion times, it's always different when it's littered with unexpected obstacles. You can't always predict every obstacle in a short sale, regardless of how many you have closed.
I have a pretty good idea what will happen in just about any short sale scenario. Once I know who the lender is and I listen to the seller's financial woes and hardship, I am pretty accurate with … (12 comments)
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bank of america short sale: Adobe Acrobat X Pro is Essential Software to Streamline Sacramento Short Sales - 09/25/11 11:11 AM
The thing about being self-employed as a Sacramento short sale agent is the fact that limitations are present every day in my business. I am not boasting when I say there is only so much that one person can do. It's the truth. The way I stay successful is to stay hands-on. I could list 1,000 short sales a year if I wanted to but I do not. To do that volume, I would need to hire a bunch of agents to work for me, and then the quality of my work would suffer.
There is no way around that. Nobody … (7 comments)
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