Real estate blog entries tagged with stop making mortgage payments by Elizabeth Weintraub, Sacramento Short Sale Agent, Land Park, East Sac, Lyon RE (Top 1% at Lyon Real Estate #00697006)

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Home : Blogs : Elizabeth Weintraub, Sacramento Short Sale Agent, Land Park, East Sac, Lyon RE : Elizabeth Weintraub Blog: Lyon's #1 Short Sale Agent : Tag "stop making mortgage payments"

stop making mortgage payments: The Newest Wrinkle in Short Sales: Fair Debt Collection Practices Violations - 03/29/12 08:06 AM

Are short sale banks violating Fair Debt Collection Practices Act? In America, we have federal law and, in many states, state fair debt collection practices rules. These laws govern who can attempt to collect a debt and how they can do it. For example, borrowers have the right to tell a collection company in writing to stop contacting them because they have no intention of paying a debt. It's not like banks don't know about the Fair Debt Collection Practices Act as I'm fairly certain this is intimate knowledge to them. Yet, some collection attempts by short sale banks are most … (9 comments)

stop making mortgage payments: Why Short Sale Sellers Suffer Like Students at the UC Davis Pepper Spray Incident - 11/22/11 11:22 AM

We should protest how short sales are reported. That's the thought I woke up with this morning. How was it determined that it's OK for a lender to report adverse credit when the lender approves a short sale? By reporting a short sale as "paid in full for less than agreed," it has a bad effect on a seller's credit report.
Short sales affect credit. One generally does not need to be in arrears to do a short sale. Sellers who are current on their payments do short sales all the time. It's generally the government loans -- Fannie Mae, Freddie … (7 comments)

stop making mortgage payments: To Make Your Mortgage Payment or Not to Make Your Mortgage Payment? - 11/16/11 09:45 AM

Whether it 'tis nobler in the mind to suffer the slings and arrows of outrageous fortune or to take arms against a sea of troubles. As a Sacramento short sale agent, I get asked a particular question all the time. Not necessarily in that format, but it means the same thing. There is a lot of conflicting information online. In fact, it's almost as diverse as each short sale is unique.
Throw the lender into the mix, and you've got a real quandary. This is where you've got to stop and think. As a potential seller and responsible home owner, think … (9 comments)

stop making mortgage payments: The Best Time to List and Sell a Short Sale - 09/21/11 09:43 AM

I was reading Valarie Swanson's post this morning about short sale timelines and realized I do have something to add that conversation. That's how it goes with most articles I write. Many outside influences trigger thoughts about short sales. It seems to be in my dna, and part of the reason that I've become so successful at being a Sacramento short sale agent.
Believe me, it wasn't a title I intended to obtain for myself, but over the years, it's turned out that way. People tell me how brilliant they think I am because I headed into the short sale pool … (6 comments)

stop making mortgage payments: Is it Smart to Pay on that Second Mortgage if Your Home is Underwater? - 03/23/11 09:11 AM

If you own an underwater home, should you continue to pay on your second mortgage? Lots of people stop paying, and they don't worry about it. Why don't they worry about it, you may ask? Because the second mortgage holder probably has zero equity. Nada. No security for that loan. If there is nothing securing that loan, the mortgage lender is unlikely to file for foreclosure because there is no financial gain to do so.
When a second mortgage lender files for foreclosure, to perfect it, the lender needs to make up the back payments to the first lender, if any, … (11 comments)

stop making mortgage payments: The Number One Short Sale Question - 05/26/10 09:02 AM

One of the main questions sellers who are contemplating a short sale always ask is whether they should stop making mortgage payments. There is no cut and dry answer to that question. Not to mention, it's also a legal question best answered by those in the capacity to render such advice -- which automatically bars real estate agents from answering it, unless those agents sport a J.D. after their names.
Every situation is different. Every short sale seller is different. Some sellers have a high tolerance for risk and others do not. See, the thing is if you stop making a … (10 comments)

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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.

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