ARCHIVED BLOG POSTS
2010
How Long Do Short Sales Take? This is the million-dollar question. The short sale process, from submission to short sale approval, is generally as follows: Submission of offer and complete short sale package from the seller. Bank acknowledges receipt -- 10 to 30 days. Bank orders a Brokers Pri...
01/11/2010
Qualify Your Short Sale Before Writing the Offer Before you decide to buy a short sale property, ask your agent to do a little groundwork first. Examine the Comparable Sales Many banks will discount the price a little bit from market value, but to get an acceptance, offers ...
01/11/2010
Why Banks Reject Short Sales Banks demand a plethora of documentation before approving a short sale. Contrary to popular belief, sellers do not need to be in foreclosure or have fallen behind in making mortgage payments, for a short sale to occur. Here are reasons that banks turn down short sale ...
01/11/2010
Searching for a California Short Sale Listing Agent Due to rising numbers of foreclosures and short sales in certain parts of the country since 2006, many real estate agents have decided to market themselves as short sale specialists. Some of those agents have little or no short sale experience. ...
01/11/2010
2 Bedroom 2 ½ Bath 2 Story 1530 Sq Ft Home/ 3500 Sq Ft Lot Built 2006 Great 2 Bedroom plus loft home in a wonderful area of Riverside. Home backs to the golf course. Property Sold AS IS. Cross Streets: Camino Real and Lake Side Asking $220,000 www.remaxann.com for more info #01451803
01/06/2010
• Are You In a Default Situation? • Are You Facing Back House Payments? • Do You Need To Sell ASAP? • Do You Have Little Or No Equity In Your Home? • Do You Owe More Than Your Home Is Worth? • Do You have a Notice of Default? • Do You have a sale date? A short sale is when a lender accepts a disc...
01/06/2010
• Do you owe more on your property than its current Fair Market Value? • Is there little equity and it is not enough to cover the agent commission costs and closing costs? • Does the property need rehabilitation work on it before it will sell? • Do you have a current or upcoming hardship that wi...
01/06/2010
What is a Short Sale? A short sale, also called "Short Pay" or "Pay Off", is a transaction that allows for the sale of a property for an amount that is less than the amount that is owed to the lender. The bank in return may accept the proceeds as full settlement of the debt. What is Necessary fro...
01/06/2010
Common Foreclosure Terminology AccelerateAn option given to lenders through an "acceleration" clause in the mortgage or deed of trust requiring the borrower to pay the entire balance of the loan all at once if their loan is in default. AffidavitA sworn statement in writing usually given while ...
01/05/2010
FACTS ON SHORT SALES Missed some mortgage payments? Want to keep your home? Is the bank about to put you into foreclosure? WE CAN HELP YOU! We will advise you of your options and may be able to help you stop the foreclosure and may even save your credit. Default situations are time sensitive, t...
01/05/2010
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