| |
countrywide: Your Sacramento Short Sale Home is Vulnerable to Vandalism if it's Vacant or Abandoned - 10/17/09 09:20 AM
There is always a good reason to do a final walk-through before closing escrow. Especially when you're buying a Sacramento short sale home that is vacant. Plus, some banks won't approve short sales if a home has been abandoned.
In one instance, I had a Sacramento short sale that was approved by the first lender but the second lender submitted a condition for approval. The bank said the home must be occupied by the seller. The seller had moved a couple of miles away and refused to move back into the home, not even for 30 days so it could close. … (11 comments)
|
countrywide: What Can You Tell Me About That Sacramento Short Sale Home? - 06/11/09 10:17 AM
Buyer calls about Sacramento short sale homes, I can understand. After all, not every website where buyers find property specify that the listing is a short sale, much less whether it's an active contingent (meaning there are one or more offers with at least one accepted) short sale. And, sometimes buyers just call me from the sign in the yard.
But the calls from agents astound me because those agents have access to MLS. I presume they can read. I realize some Sacramento short sales can fall apart if a buyer walks away at short sale approval. Some get tired of … (14 comments)
|
countrywide: You May As Well Prepare For a Delayed Escrow Closing in Sacramento - 06/10/09 08:59 AM
I like to tell my clients that we shouldn't cross bridges twice, but sometimes, you've got to. Part of the service I provide for my clients is to anticipate problems before they happen and try to head them off at the pass. There are situations, though, over which I have no control. And that means preparing for the worst and hoping for the best.
One of my clients, whom I cherish to pieces partly because his mind operates the same way as mine, can work himself into a lather. He's very analytical, always questioning why people do the things that they … (10 comments)
|
countrywide: Beware of Dealing With Bank of America on a Short Sale - 05/20/09 09:21 AM
I can't think of any worse combination of lenders to be dealing with on a Sacramento short sale than having a first with Countrywide and a second loan with Bank of America. (Unless it's Bank of America on the first and Countrywide on the second.) No matter how you look at it, it's double hell.
A short sale transaction I'm working on right now has that "winning" combination. Although both lenders are technically Bank of America, the second lender wants 5% from the first. On top of that, Countrywide wants a $5,000 cash payment from the seller, which the seller has … (20 comments)
|
countrywide: If Countrywide Sells Your Short Sale Promissory Note, Pay Attention - 03/07/09 09:01 AM
Ever since the news broke last year about the handful of former Countrywide execs who teamed up to form a new company, Private National Mortgage Acceptance (PennyMac for short), based in Calabasas, California, I've been keeping my eye on this firm. Some people were astonished that the hand that starves is also the hand that feeds, but that's the nature of the so-called business: The Phoenix will rise again.
Then the New York Times carried a follow-up story last week that these very same executives who helped send Countrywide to its knees are reporting that business at PennyMac is fabulous, and … (8 comments)
|
countrywide: Countrywide Makes New Demands on Short Sales and Won't Back Off - 02/28/09 09:35 AM
My husband is the poor guy who gets to listen to me rant and whine about my business. That's primarily because the cats don't give a hoot when I share my day. To be honest, my husband doesn't really care, either, but at least he's smart enough to say, "That's too bad," rather than, "Here, let me help."
Working on short sales means every day I wake up and wonder: What new fresh hell is in store for me today?
Last night, I complained at great length about a Sacramento short sale with Countrywide, and my husband was forced to listen. … (30 comments)
|
countrywide: Are Sacramento Short Sale Sellers Submitting Phony Purchase Offers to Countrywide? - 02/19/09 09:21 AM
It's happened twice in the past week with Countrywide. Once is a fluke, but the second time is policy at that bank. Both of these short sales had different negotiators assigned, so it wasn't like we were dealing with one short sale negotiator who simply had a bad day.
Countrywide's new short sale policy is to cancel a file if there are changes. Bear in mind, it doesn't matter if the changes were caused by Countrywide because it made a mistake. And Countrywide has a habit of making plenty of mistakes.
In the first case, Countrywide forgot to add the back … (22 comments)
|
countrywide: Shocking News About Countrywide's New Short Sale Demands - It's Below the Belt, Even For CW - 01/15/09 12:17 PM
If I hadn't heard the words from Countrywide's short sale negotiator myself, I may not have believed it. Countrywide started out in this business as a bottom feeder, and I offer this story as evidence that Countrywide is returning to its roots. The demand Countrywide made yesterday on a short sale was vicious with an evil undertone.
A common factor among many short sales today is some lenders want the sellers to make a cash contribution at closing. That's not unexpected in some transactions. We had negotiated that contribution for the sellers down to $2,500, even though the sellers did not … (178 comments)
|
countrywide: How Many Borrowers Will Choose Bank of America's Rescue Plan Over a Short Sale Attempt? - 10/07/08 10:33 PM
Thanks to California Attorney General Jerry Brown, an agreement has been reached with Countrywide's parent Bank of America to rescue an estimated 125,000 Californians from foreclosure. The terms are narrow, targeting owner occupants who took out from Countrywide Option ARM or subprime mortgages from 2004 through 2007, with a few provisions tossed in to assist homeowners with prime and Alt-A loans.
Starting December 1, apart from freezing foreclosures, Bank of America has agreed to waive prepayment penalties and late fees, plus offer to some ARM holders interest rates as low a 3.5% on a new refinance at 95% of loan-to-value, … (65 comments)
|
|
|
|
|
|
Elizabeth Weintraub, Sacramento Short Sale Agent, Land Park, East Sac, Lyon RE
Sacramento,
CA
More about me…
Top 1% at Lyon Real Estate #00697006
Address: 2801 J Street, Sacramento, CA, 95816
Office Phone: (916) 233-6759
Cell Phone: (916) 233-6759
Email Me
Broker-Associate at Lyon Real Estate, midtown Sacramento. Selling since 1974. Home Buying Columnist at About.com. Sacramento short sale agent.
 Listings
Links
Archives
|
;)
;)
;)
