short sale: Short Sale News | Speeding Up The Short Sale Process
- 06/28/12 04:07 PM
Great news! The short-sale process is now expected to get shorter! On June 15, Fannie Mae announced that it is now instructing servicers to speed up short sale transactions and enhance communication while reviewing short sale applications. This is part of the Federal Housing Finance Agency’ Servicing Alignment Initiative to complement the servicing and loss mitigation standards of Fannie Mae and Freddie Mac...continue reading … (2 comments)
short sale: Update on DOJ Global Settlement & Bank of America Short Sales
- 06/20/12 12:29 PM
The U.S. Department of Justice (DOJ) and the state attorneys general have agreed to the conditions of a global settlement with the leading mortgage servicers, which include Bank of America. This government agreement will be giving a huge boost to a continuing commitment of giving aid and assistance to homeowners who are struggling to make their mortgage payments by extending their other options...continue reading … (0 comments)
short sale: Secrets To The Short Sale Hardship Letter From A Los Angeles Short Sale Real Estate Agent
- 03/09/12 09:06 AM
A Short Sale Hardship Letter is a letter that you need to write to your bank or lending institution to request them to consider a short sale to prevent your home from being foreclosed. After having assembled dozens and dozens of short sale packages, I have found that more than any other document, the hardship letter can make or break a short sale. Even though the banks care most about dollars and cents, it is essential to keep in mind that the package will be checked by an individual loss mitigator. Like all of us, this loss mitigator is a real … (1 comments)
short sale: Are You Facing Foreclosure? Let Me Help You
- 02/08/12 11:55 AM
You have alternatives. I can help. Facing foreclosure is difficult. I know. A lot of my best clients have been in the same situation. As I have told them, I want you to know: It will be all right, you will get through this. Looking back, I remember the anxiety, the pressure, and the problems that my clients and their families had to deal with – especially the disappointment that they saw in their children’s faces. Some of them saw their loans suddenly rise. Others fell behind on their mortgage because of hardship. And others had received a foreclosure notice from … (0 comments)
short sale: Home Seller Tips | 7 Short Sale Selling Mistakes
- 12/14/11 04:19 AM
Why Some Short Sales Never Sell A lot of short sale sellers realize that it is not easy to sell a home as a short sale – sometimes a little too late. Short selling a home is a complicated process, and if not carried out correctly, may not go as planned and / or can cause the sellers to lose their home through foreclosure proceedings. Here are some of the common mistakes sellers make with short sales:..continue reading … (1 comments)
short sale: A Simplified Approach to Your Short Sale Approval Process with Bank of America
- 10/28/11 10:06 AM
Hello I am Dana Ehrlich with Best Side of The Westside Inc, Santa Monica’s leading short sale specialist, Thank you for joining me here today. I love to use my blog as a way to keep you, the Westside LA homeowner, updated and informed about short sale and foreclosure prevention, and anything related to them. Today I want to talk to you about Bank of America. If you are currently overdue on your payments with Bank of America, or you have a property you must sell today and owe Bank of America more than the home is worth, call me or … (0 comments)
short sale: Go Through A Short Sale While Facing A Divorce
- 08/17/11 06:26 AM
Today I wanted to write a bit about divorce, and a tip on how you might get through it when there’s a home involved. Divorce is a very disastrous situation and obviously something we would all like to avoid if possible. But the reality is that more than 50% of marriages end up in a divorce that involves splitting up of joint assets and liabilities. It is now more complicated and difficult to go through a divorce, given today’s economic conditions; couples going through this are struggling on how to end their relationship and trying to figure out what to … (1 comments)
short sale: Quick Weekly Santa Monica Real Estate Market Update – August 5, 2011 to August 12, 2011
- 08/15/11 06:19 AM
Santa Monica Real Estate – Single Family Homes: Active Listings: 93* Short Sales – 4* Bank Owned/REO – 3Of the 88 active Santa Monica homes for sale, 33 had their List Price decreased, and 2 actually increased in list price. Current Pending Sales: 44* Short Sales – 8* Bank Owned/REO – 0 Total Sales: 4* Short Sales – 0* Bank Owned/REO – 0 Average Days on the Market for the 4 sold Santa Monica homes for sale was 58 Average Selling Price versus the Average List Price of Santa Monica homes for sale was 96.31% Average Selling Price was $3,977,500.00 Santa Monica … (0 comments)
short sale: Job Relocation? Lessen Your Burdens By Making A Santa Monica Short Sale!
- 08/12/11 07:05 AM
I wanted to discuss a situation that comes up often: when a homeowner needs to relocate because of work but their home is worth less than what they currently owe. It’s great if you’re coming from unemployment to getting your dream job, but it’s a shame that you have to move to another location. As more people are forced to relocate in order to find better work, or a job that suits their qualifica tions, this has become a very common occurrence and I am here to help…read full article Read More Santa Monica Short Sale Articles. … (1 comments)
short sale: Quick Weekly Santa Monica Real Estate Market Update – July 29, 2011 to August 5, 2011
- 08/08/11 05:52 AM
Santa Monica Real Estate - Single Family Homes:Active Listings: 88* Short Sales - 6* Bank Owned/REO - 1Of the 88 active Santa Monica homes for sale, 29 had their List Price decreased, and 2 actually increased in list price.Current Pending Sales: 37* Short Sales - 6* Bank Owned/REO - 1Total Sales: 7* Short Sales - 1* Bank Owned/REO - 0Average Days on the Market for the 7 sold Santa Monica homes for sale was 47 Average Selling Price versus the Average ListPrice of Santa Monica homes for sale was 96.55%Average Selling Price was $1,691,500.00Santa Monica Real Estate - Condominiums:Active Listings: 154* … (1 comments)
short sale: Easing The Burden of a Short Sale With The Help of The HAFA Program
- 07/20/11 06:44 AM
Most of the time, when people talk to you about short sales, you hear that the homeowner cannot walk away from closing with any money in their pocket. That is somewhat true in most short sales. However, there is a short sale program developed by the federal government called a HAFA short sale, which provides aid to homeowners going through a short sale. HAFA is part of the Home Affordable Modification Program or HAMP which was part of the original stimulus package and it is in place to help underwater property owners and banks avoid foreclosures. What happens in negotiations … (2 comments)
short sale: Important Steps You Need To Know In Order To Qualify For A Short Sale
- 07/18/11 11:36 AM
Have you ever wondered how you can qualify for a short sale? Are you behind on your mortgage? Do you currently owe more than what your house is worth? Do you need a solution to your financial troubles? Now, I will discuss with you how one goes about qualifying for a short sale. If you want to find out if you can qualify for a short sale, please call me or email me today so we can schedule a consultation. The process is actually very simple, and within a 10-15 minute no-obligation consultation, I will be able to let you know … (0 comments)
short sale: Which is Better: A Short Sale or a Foreclosure?
- 07/05/11 05:33 AM
Would a short sale be really better than a foreclosure? Yes, and there’s no doubt about it. For the longest time, many homeowners have gotten so upset and disappointed with getting by financially and not having enough money to cover expenses that they end up just letting their home go back to the bank as a foreclosure instead of short selling their home. It’s really sad that they have to let their homes go after working so hard to get it. There is so much stress involved when a homeowner has to go through with facing a foreclosure; Most of … (2 comments)
short sale: The Best Ways To Look for Pre Foreclosure Listings
- 06/20/11 01:50 PM
Where to find foreclosures and pre foreclosure listing There’s basically several ways you can look for a pre foreclosure listing. Be reminded though that you’re not the only one looking for this information. So putting a little effort on your methods goes a long way especially in finding a great pre foreclosure listing. Here are some methods: 1. Public Records: The Notice of Default (NOD), Lis Pendens or for a Notice of Sale would be the records you need to ask your County Clerk at your County Recorder’s Office. This is a foreclosure list that is already in the courthouse and … (1 comments)
short sale: Short Sale Soap Box - Part II
- 08/25/10 03:55 AM
I'm still on my Short Sale Soap Box... Then there's the short sale BPO (Broker Price Opinion) process. The banks are of the belief that an out-of-area real estate agent who is willing to consume hours of their time to drive 60 miles to take photos, develop a market analysis that declares market value and turn their report around in 24 hours for 50 bucks is a better choice than hiring a certified appraiser BECAUSE IT'S CHEAPER THAN ORDERING AN APPRAISAL. I've made it a point to show up for every BPO on my short sales to provide the BPO agent with … (0 comments)
short sale: Short Sale Soap Box - Part 1
- 08/24/10 06:19 AM
Ah...the World of Short Sales is fraught with problems. As I write this, I think to myself: THIS IS AN UNDERSTATEMENT! We aren't just running into problems with the banks, we're running into what could be described as OUR WORST NIGHTMARES! Lenders are defying logic and denying short sales where the seller is demonstratedly distressed and in a severe financial hardship...can you say...Government incentives mean more to the banks than giving homeowners trying to get on with their lives a break? Then there's the fact that Junior (2nd) lienholders are blocking short sales by requiring a greater contribution than the 1st … (3 comments)
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