Antioch California Short Sales: A Good Example Of Lender Incompetence On Short Sales - 03/31/11 02:16 AM
Antioch CA - We received the following e-mail a little while ago from another agent that does short sales. It illustrates how the current short sale guidelines hurt the housing market and homeowners short selling their house.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
The following e-mail shows you why it is important that you have an experienced short sale agent help you. Here is the e-mail.
"I have a short sale listing with a large national lender. I have been waiting for an answer since September. I finally received an answer last … (0 comments)

Antioch Short Sales: How Do I Get A Loan Mod On An FHA Loan? - 03/30/11 01:43 AM

Antioch CA - The Stop Foreclosure recently received a question from Grant. Here was his question.
"I have an FHA loan and want to get a loan modification. My bank is playing hardball and won't modify the loan at all. My friend got a loan modification and said it was pretty easy. What can I do to modify my loan?" Grant.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Here is the answer. I don't know the specific rules for FHA Loan Modifications. But, I do know how to find them. Here is … (1 comments)

Antioch Short Sales: What Does I Mean When The Bank Says File Is Going To Investor Soon? - 03/29/11 01:37 AM
Antioch CA - The Stop Foreclosure recently received a question from Georgia E. Here was her question.
" When the bank says the file should be going to an investor soon what does that mean?" Georgia E.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Here is the answer. It means that whoever ultimately owns the loan will make the decision. For example, you might be negotiating the short sale with Wells Fargo.
However Wells Fargo may not own the loan. (Around 80% of all the loans they service are owned by someone else.) … (1 comments)

How will a Antioch Short Sale or loan modification affect my credit score? - 03/28/11 01:00 AM
Antioch CA - How do foreclosures, loan modifications or short sales affect a credit score? Your credit score will be affected by late mortgage payments and a short sale.
However, there are 2 things that are considered horrible on your credit report. Those 2 are items are foreclosure and bankruptcy.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
A foreclosure or bankruptcy will almost immediately lower a credit score by around 100 to 120 points. (The number is not hard and fast - it all depends upon what the score was before the foreclosure, … (1 comments)

How To Preserve Your Credit During A Antioch Short Sale - 03/25/11 02:50 AM
Antioch CA - If the right decision for you and your family is to sell the house as a short sale, then the sale will have an immediate effect on your credit score.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
You might feel like it's just overwhelming and demoralizing to see your credit score take any more hits!
But, here's the silver lining: according to most experts, 78% of Americans have ERRORS on their credit score. Why is that a silver lining?
If you have negative errors on your report that get fixed, … (1 comments)

Should I Continue Paying My Credit Cards During A Antioch Short Sale? - 03/23/11 01:28 AM
Antioch CA - The Stop Foreclosure Institute recently received a question from Paul. Here is Paul's Question.
"I am selling my house as a short sale. I am behind on the mortgage payments. Do you think I should still pay my credit cards?" Paul.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Here is our answer. It all depends on what is important to you. Can you afford your mortgage payment if you stopped paying the credit cards?
If the answer is yes and you don't want to move, then I would recommend that … (3 comments)

Pittsburg Short Sales: Why Lenders Back Off When Threatened With Bankruptcy - 03/22/11 02:10 AM
Pittsburg CA - Bankruptcy is one of the scariest words a lender can hear. A bankruptcy filing can stall their ability to foreclose by 6 months, and sometimes as long as a year.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
The lenders know that most bankruptcies will cause them to lose the ability to pursue you for any losses. This means they can't go after you for any upside down debt.
The only thing a lender gets in a Chapter 7 Bankruptcy is any collateral they have on a loan. So they can … (0 comments)

Antioch Short Sales: Why Lenders Back Off When Threatened With Bankruptcy - 03/21/11 07:41 PM
Antioch CA - Bankruptcy is one of the scariest words a lender can hear. A bankruptcy filing can stall their ability to foreclose by 6 months, and sometimes as long as a year.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
The lenders know that most bankruptcies will cause them to lose the ability to pursue you for any losses. This means they can't go after you for any upside down debt.
The only thing a lender gets in a Chapter 7 Bankruptcy is any collateral they have on a loan. So they can … (0 comments)

How To Get Your Loan Mod Approved When Negotiating With A Local, Antioch Lender - 03/19/11 02:42 AM

Antioch CA - In my opinion, loan mods are very tough to negotiate with large lenders like Bank of America, Wells Fargo, JP Morgan Chase, or SunTrust. The reason is because you are treated like a number.
In addition, in most cases the lender doesn't own your loan. Someone else does. So when they negotiate with you, it is simply to go thru the motions.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
No, common sense does not apply in these situations! The good news is that common sense does apply when you … (0 comments)

Antioch Short Sales: Even The Rich Are Being Foreclosed - 03/18/11 01:36 AM

Antioch CA - This is good news or bad news, depending on how you look at it. Here is the good news.
If you are a little guy having financial problems, then you are not alone. Even Billionaires are being foreclosed on.
One billionaire real estate developer in Florida had several projects foreclosed on. Another very well known real estate developer is having to re-negotiate mortgages on his investment properties.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Even a woman who was married to a man who was the richest man in … (0 comments)

Pittsburg Short Sales: Four Specific Examples of Big Bank Negligence - 03/17/11 12:16 AM

Pittsburg CA - Here are four specific examples of big bank's negligence causing a loan owner to lose money.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Example #1: Not giving buyers an answer on a short sale within one week. Home buyers don't like to wait 3-6 months for an answer on a short sale. This fact causes many buyers to shy away from short sales, thereby causing short sales to sell for less.
Lenders should help the loan owners recoup as much money as possible from short sales. To do this, … (2 comments)

Brentwood Short Sales: Four Specific Examples of Big Bank Negligence - 03/17/11 12:10 AM
Brentwood CA - Here are four specific examples of big bank's negligence causing a loan owner to lose money.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Example #1: Not giving buyers an answer on a short sale within one week. Home buyers don't like to wait 3-6 months for an answer on a short sale. This fact causes many buyers to shy away from short sales, thereby causing short sales to sell for less.
Lenders should help the loan owners recoup as much money as possible from short sales. To do this, they … (0 comments)

Antioch Short Sales: Four Specific Examples of Big Bank Negligence - 03/16/11 11:47 PM
Antioch CA - Here are four specific examples of big bank's negligence causing a loan owner to lose money.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Example #1: Not giving buyers an answer on a short sale within one week. Home buyers don't like to wait 3-6 months for an answer on a short sale. This fact causes many buyers to shy away from short sales, thereby causing short sales to sell for less.
Lenders should help the loan owners recoup as much money as possible from short sales. To do this, they … (0 comments)

What The Big Banks Don't Want You To Know About Brentwood California Short Sales - 03/16/11 02:26 AM
Brentwood CA - Here is a shocking fact that most of the American Public doesn't know. Most mortgages are not owned by banks.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
In addition, most of the huge losses on bad mortgages was not lost by the banks themselves. Instead, the biggest loser was Uncle Sam, thru the takeover of Fannie Mae and Freddie Mac.
Most mortgages are sold after they are made. We estimate that around 75-80% of all mortgages were sold before the housing crisis.
This means that the large lenders didn't take … (1 comments)

What The Big Banks Don't Want You To Know About Pittsburg Ca Short Sales - 03/16/11 02:08 AM
Pittsburg CA - Here is a shocking fact that most of the American Public doesn't know. Most mortgages are not owned by banks.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
In addition, most of the huge losses on bad mortgages was not lost by the banks themselves. Instead, the biggest loser was Uncle Sam, thru the takeover of Fannie Mae and Freddie Mac.
Most mortgages are sold after they are made. We estimate that around 75-80% of all mortgages were sold before the housing crisis.
This means that the large lenders didn't take … (1 comments)

Antioch Short Sales: Another Example Of Lenders Attempting To Abuse Their Power - 03/15/11 01:25 AM
Antioch CA - The Stop Foreclosure Institute recently received a question from Durry. Here was Durry's Question.
"We have American Home Mortgage Servicing, a loan processor for a Mortgage held by Deutche Bank, adding a 1% "processing fee" that ONLY the buyer can pay at closing.
This was never revealed until we received the short sale approval letter. The buyer is upset." Durry.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Here was our answer to Durry's Question. Yes, the buyer is upset. Buyers think they are in control in today's market. They can't … (2 comments)

Antioch California Short Sales: How One Agent Overcame The Odds - 03/14/11 12:20 AM

Antioch CA - Sometimes it seems like short sales are tough. "Don't try to short sale your house. Short Sales never go thru", people tell you.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
This isn't true. Here is how one agent beat the odds and succeeded with a short sale.
A member of the Stop Foreclosure Institute told me about a short sale he recently worked on. Here is the story from the member.
"I had a short sale with a large national lender. The loan was owned by Fannie Mae, not … (0 comments)

Antioch Short Sales: A Little Known Fact About Short Sale Negotiators - 03/11/11 01:31 AM
Antioch CA - A negotiator at a large bank tried to mislead a Stop Foreclosure Institute Member. She really got on our nerves.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
You see, we've spent the last few years figuring out all the guidelines for short sales. If the loan being shorted is an FHA Loan, VA Loan, Fannie Mae Loan, or Freddie Mac Loan, then the guidelines for the short sale are different.
In this case, the loan being shorted was an FHA loan. Here's what happened.
FHA puts out a letter called … (0 comments)

Antioch Short Sales: Lenders Loses 50k Turning Down Short Sale - 03/10/11 12:27 AM





  
This bank's stockholders are probably unhappy after losing $50,000 over incompetence. Antioch CA - I have a good story today about another bank losing their shirt because their short sale process is so tough to work with.
The bank in question is a large, top 20 American Bank. They actually owned the loan in question. So their stockholders lost 50k from their negligence. Ouch!
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Here is the story from a Stop Foreclosure Institute Member. "We met some buyers … (1 comments)

Why Antioch Short Sales Sell For A Higher Price Than A Antioch Foreclosure - 03/09/11 01:22 AM
Antioch CA - People often wonder why their lender will release their debt in a short sale. Most lenders don't like to release the debt. But, they agree to do it because they know that policy nets them more money.
They net more because a home usually sells for more money as a short sale versus after it has been foreclosed upon. Let's go thru a few examples.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


Most Short Sales Are Well Kept Up And Attractive To Buyers.
See the home in the … (0 comments)

Antioch California Short Sales: This Short Sale Negotiator Isn't Doing His Job - 03/08/11 02:05 AM

Antioch CA - Here is a question that we recently received. "I am in the middle of a very long negotiation with Chase.
The seller had me to put a clause into the contract stating "upon approval of short sale by sellers' lender, lenders, & or affiliates, client, or heirs will be released from any monetary shortages or deficiencies from said sale of stated property upon successful closing and transfer of title from that date and forevermore."
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
The short sale negotiator at the lender, Nathan … (0 comments)

Antioch Short Sales: Why it is cheaper to short sell and rent versus staying - 03/04/11 01:48 AM

Antioch CA - Many people are shocked that it is often cheaper to short sale and rent that staying in your home with a loan modification.
They find it hard to believe that they can rent a comparable or even nicer home for less than their mortgage. Here are the two factors that make it possible.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Many homeowners bought homes for more than they are selling for today. A perfect example is a homeowner that paid $150,000 for a home. His mortgage payment was around … (1 comments)

Antioch Short Sales: The Homeownership Rate continues to drop - 03/03/11 03:00 AM
Antioch CA - Barron's Magazine recently had an article titled "Renter Nation." In it, they detailed the various factors at work that will reduce the homeownership rate in America.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
The homeownership rate has already dropped from 69.2% to 66.9% today. Here is one of the factors Barron's said would cause the homeownership rate to drop. Experts project that the average American Household will become younger over the next decade.
Younger households are more likely to rent versus purchase a home. However, the article missed another big … (0 comments)

Antioch Short Sales: What is a HUD-1 and why does it matter on a short sale? - 03/02/11 12:22 AM

Antioch CA - Here is something that drives inexperienced short sale agents crazy. It is a HUD-1, also called a HUD. HUD is the Federal Agency, the Department of Housing & Urban Development, also called HUD.
A HUD-1 is a document regulated by HUD. It is the financial accounting for a real estate sale. Here is why it is important to a short sale.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Before a short sale lender will accept a short sale, they want to know what they will net from the … (2 comments)

Antioch Short Sales: What is a BPO and why does it matter on a short sale? - 03/01/11 01:37 AM

Antioch CA - Some agents hate short sales. Why? Because they don't understand them. So, don't believe them when they tell you that short sales are impossible.
I will explain what causes their problems in today's post.
There are two things you must understand if you are doing short sales. They are BPOs and HUD-1s. A BPO is what the short sale lender uses to determine the value of the property.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
BPO stands for "Broker's Price Opinion." They are what another real estate agent (Broker) … (1 comments)

 
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Shonn Thompson

Antioch, CA

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Better Homes Realty

Address: 3413 Deer Valley RD, Antioch, CA, 94531

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