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How to Buy Foreclosures and Short Sales

By
Mortgage and Lending with US Bank NMLS: 22343
RPM Mortgage in California
How to Buy Foreclosures and Short Sales 
 
The short video below covers what you need to know if you're thinking about buying a property that is a foreclosure or short sale.  It may seem obvious to some, but from the lender's persective, we find that often the prospective buyer feels that there are some fundamental differences when it comes to obtaining a home loan for a distressed property versus an equity sale, or "normal" sale.
 
This video will cover the basics of pre-approvals, and what information you do and do not need in order to get started.  Also, the definitions of foreclosures and short sales are provided (in black and white, of course!) so that all can understand.  Finally, I offer a few tips and suggestions that aim to help minimize stress and maximize the likelihood your transaction will close on time.
 

Online pre-approval is always available at themortgagedictionary.com. For any questions about the home loan process, feel free to get in touch at the contacts below, and I look forward to being of service!

                         Google+

Robert J. Spinosa

Home Loan Professional
DRE: 01297944 NMLS: 22343

591 Redwood Hwy. Suite 1150
Mill Valley, CA 94941

877.270.5959 Toll Free
415.367.5959 Cellular
415.366.1590 eFax
rspinosa@rpm-mtg.com

Michael S. Bolton
Michael S. Bolton,Inc. - Zimmerman, MN
MN Appraiser

Great job with your video's Rob. This is something that's on my "to do" list for 2012.

Have a great evening!

Jan 09, 2012 11:55 AM
Rob Spinosa
US Bank - Larkspur, CA
Mortgage Loan Originator, Marin County

Thanks, Michael.  I can attest that getting started with video is not easy.  The best advice I can give is the advice I was lucky enough to hear when I started, "Your first videos are going to SUCK.  Get them out of the way as soon as possible!"  Couldn't have been more true.  Still, you eventually find your voice and it becomes less difficult.

Like anything, if you decide it will work and you put forth the consistent effort, it most certainly will succeed.

Thank you for the positive feedback --- very much appreciated!

Jan 09, 2012 12:30 PM
Sylvia Barry
Coldwell Banker Previews International (#1 Marin_Sonoma_San Francisco_North_Bay) - San Rafael, CA
Marin and Sonoma Real Estate Leading Expert

Rob - Great video with clear message to the consumers. 

I have sucessfully represented a lot of buyers who purchased distressed properties, and it is extremely importatnt to educate them and set expectations upfront so they know what they will be facing and working with.   This is the only way to have a successful sale.  

Good job!

Jan 13, 2012 03:19 AM