selling your home: Short Sale: Let's Improve The Experience For All Parties
- 03/28/10 08:18 AM
Let's face it. The lenders and their representatives control the manner in which a short sale is adminstered more than any other party. We (Sellers, Buyers, Listing Agents and Buyer's Agents) can do our part, though, to make the transaction as smooth as possible (in spite of any lender failings) by maintaining certain protocols. Some things I've noticed in the last few years in no particular order: 1. Listing Agents: Communicate with your buyer's agent. Buyer's agents usually want to keep their buyers engaged in the process. Help them do so by maintaining consistent and frequent communication. Even if you are only … (0 comments)
selling your home: Another Successful Making Home Affordable Loan Modification - Orange County California Short Sale Realtor
- 01/21/10 09:06 AM
Short Sale vs. Loan Modification Another successful Bank of America Making Home Affordable Final Modification completed today! This SoCal client had fallen behind on his mortgage payments with (Countrywide) BofA because his significant other (not married and not on the loan) left him. Without this income he fell behind and couldn't obtain assistance from the bank on his own. After analyzing his situation we urged hime to do a short sale. He owed $341,000.00 to Bank of America (thankfully no 2nd mortgage) on the home and it was only worth $293,000.00 at the time. Homes are funny things though... he couldn't quite make … (4 comments)
selling your home: Foreclosure Timeline In California - ORANGE COUNTY SHORT SALE REALTOR
- 01/15/10 08:49 AM
Many of my clients are unclear regarding how the foreclosure process works in California. It is fairly straightforward and I have outlined it below: The following time-line applies to non-judicial California Foreclosures under a Deed of Trust. (non-judicial foreclosure is used far more commonly in California than a Judicial Foreclosure and California is a "one-action" state) Foreclosures begin when the Trustor (borrower) stops making the monthly payments to the Beneficiary (Lender), the first missed payment (30+ days) is technical default, but in practice , most Beneficiaries do not begin the process until the third payment (90+ days) is missed. If the Beneficiary cannot resolve … (2 comments)
selling your home: When Should You Contact A Real Estate Agent? Notice of Default / Trustee Sale?
- 12/10/09 10:16 AM
Let's start by asking "When is it too late to contact a real estate agent?" The blunt answer is: When the Sheriff knocks on your door telling you to remove all your belongings and leave the premises.Knowing who to turn to and when to seek help can be difficult. It's not new news that there are scores of foreclosures out there, and even more coming every day. Currently 5% of California Mortgages are in the foreclosure process, and 16% are delinquent. Eventually, when the bank's work load lessens, much of that 16% will move to the 5% bracket.The Role of the Real … (1 comments)
Let's face it. The lenders and their representatives control the manner in which a short sale is adminstered more than any other party. We (Sellers, Buyers, Listing Agents and Buyer's Agents) can do our part, though, to make the transaction as smooth as possible (in spite of any lender failings) by maintaining certain protocols. Some things I've noticed in the last few years in no particular order:
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