Top 5 of 10 thoughts about Short Sales & how we think sometimes...part 2

Real Estate Agent with At Home Real Estate Group

These are not in order of what people think but I bet when you read the following 5 of 10 statements about short sales & foreclosures that you will SO SO recognize some of thinking

  • I know at least 5 people that have bought & bailed, is it REALLY illegal?  It is illegal (but I am not an attorney).  Try not to judge people because we don't always know their exact personal situation & if that is what they really did.


  • Why am I the last person of ALL my friends to let my house foreclose or do a short sale?  You're not the last one, it may just feel like that.


  • I have tried at least 3 times to get my lender to modify my loan but they won't do it. (not fair)  I say try again.  Patience is a virtue & sometimes lender's will change their internal requirements & not really tell us customers about their new "rules".


  •  I don't have a hardship, why would the bank let me short sale my home?  Believe it or not, I have heard of people short saleing their home without a hardship.  Remember, what is a hardship to one family might not be a hardship to another one.
  • Why can't my lender just sell me back my own house for what it's worth now? I think that is truly what a wonderful loan modification is.  If you never ask your lender, they will NEVER say yes. 


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    Disclaimer: The information provided on this website should not be constituted as legal advice. The content is intended to provide general information about the short sale and foreclosure processes, and should not be acted upon without the counsel of a qualified REALTOR®, attorney, and tax expert.

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    2. Christina ONeal of At Home Real Estate Group is not associated with the government, and our service is not approved by the government or your lender; and
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    Edward & Celia Maddox
    The Celtic Connection Realty - Queen Creek, AZ

    Good information on Short Sales and Foreclosures.  Thanks for sharing thoughts.

    Mar 21, 2011 03:56 AM #1
    Jennifer Salems
    North Shore Realty Team, Inc. - Arlington Heights, IL

    Interesting article, enjoyed reading.  Noticed your Ripon CA adress, small world my pug dog before last was born in Ripon CA. Have a great week!

    Mar 21, 2011 04:31 AM #2
    Ellie McIntire
    Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
    Luxury service in Howard County & Catonsville

    Lenders don't seem to want to do the right thing and modify a loan. It's a painful process.

    Mar 21, 2011 05:08 AM #3
    Marte Cliff
    Marte Cliff Copywriting - Priest River, ID
    your real estate writer

    I remain amazed that some buyers are willing to wait the months it takes to purchase a short sale. I'm glad for the homeowners who can then avoid foreclosure, but it is still amazing.

    Wouldn't it be nice to know how much longer this will go on?

    Mar 21, 2011 08:56 AM #4
    Jack Mossman - The Nines Team at Keller Williams in Stockton
    The Nines Team At Keller Williams - Stockton, CA
    The Nines Team at Keller Williams in Stockton

    Christina - Good list ... from a GREAT agent!  The "short pay-off" is likely to become more and more popular over the next few years.  It should be a new product from non-traditional lenders ... or even medium terms investors with an equity share program. 

    Remember the old saying ... if you can't find a market ... make one!

    Mar 21, 2011 11:39 AM #5
    Christina ONeal
    At Home Real Estate Group - Ripon, CA
    Realtor - Ripon California

    Edward & Celia... Thank you for stopping by.  It was fun to write this one :)

    Jennifer... That is so cool that you have a pug dog from my town.  Does your dog have a birth certificate?  That is so neat :)

    Ellie... I agree 100%

    Marte... Oh man Marte, that is the million dollar question right now.  I wonder.  I just keep getting better at this type of market.  I need to sharpen my skills on equity sellers, I'm sure they are coming back in full force someday, maybe 15 years from now? hee hee  ... Seriously, I hope it changes back soon. :)

    Jack... Thank you for your compliments always.  I miss your writings!!! When are you writing a blog post?  When are we having lunch deary??????? I'm making my market for sure :)

    Mar 21, 2011 05:34 PM #6
    Susan Goulding
    Crown Key Realty, Tracy & Mountain House Real Estate - Tracy, CA
    Northern CA - Tracy & Mountain House Real Estate

    Why am I last?  oh yeah I'm waiting for......

    Mar 23, 2011 01:34 PM #7
    Christina ONeal
    At Home Real Estate Group - Ripon, CA
    Realtor - Ripon California

    Susan... yep, that's another one too :)

    Mar 24, 2011 02:12 AM #8
    Dave Halpern
    Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
    Louisville Short Sale Expert

    Regarding the loan modifications, there is a reason many analysts have declared HAMP a failure.

    Apr 20, 2011 10:13 AM #9
    Christina ONeal
    At Home Real Estate Group - Ripon, CA
    Realtor - Ripon California

    Dave... Thanks for stopping by.  it's a crazy industry, that's for sure :)

    Apr 21, 2011 02:39 AM #10
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    Christina ONeal

    Realtor - Ripon California
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