fannie mae short sale: How Banks Submit Bogus Payoffs in a Short Sale - 10/08/15 03:41 AM
Now I know why suddenly the second lenders in so many Sacramento short sales have been demanding beneficiary statements from the first lenders prior to issuing an approval. I used to think, what the hey, why do they care how much is owed to the first lender. Short is short. Right?
But then I saw what Ocwen did on a Rocklin short sale recently. It bumped up the fees, late charges, penalities, all over a 5-year period and just about doubled their payoff. If we had just paid off the principal, it would not have been a short sale. On the other … (3 comments)

fannie mae short sale: How Fast Can A Short Sale With Two Loans Close? - 08/17/15 02:30 AM
When we first went into escrow on this Fannie Mae short sale home in Fair Oaks, the buyer's agent seemed very hesitant. She's not an agent I knew or had worked with in the past and is an independent agent who works by herself, I believe. She had done a few short sales of her own, and I'm not sure her experiences were pleasant. Not every agent has the wherewithall to deal with short sales and some of the ridiculous things that can happen.
I often hear agents lament that banks should do this or banks should do that or how can … (12 comments)

fannie mae short sale: Behind the Scenes in Sacramento Foreclosures - 05/19/15 02:57 AM
It seems like I'm always rooting for the underdog, even though I try to be fair and balanced, which means I can't be quiet when I see inequities, people being treated unfairly, and laws that probably should be changed. Yet, I don't have any aspirations to enter law or politics, so I simply write about it and hope that my words will be read, perhaps to inspire action by somebody else better suited to tackle these issues.
Can't help my attitude: I don't like it and find it painful when I see naive people being taken advantage of, and especially when it … (5 comments)

fannie mae short sale: The Sacramento Short Sale That Lasted Over 2 Years - 09/04/14 02:21 AM
My partner in crime and I are going out to Waterboy to celebrate our endurance over closing this Sacramento short sale in Carmichael, which lasted for more than 2 years. You get to know people fairly well when you're working with them over a two-year period. With the bulk of my real estate sales in Sacramento, I meet the sellers, offer staging ideas, shoot professional photos, pick a price, suggest the buyers pound sand when they try to renegotiate and successfully close the transaction, all within a few months. These are not long relationships. In fact, with some, especially the escrows … (9 comments)

fannie mae short sale: The Proactive Approach to a Fannie Mae Short Sale in Sacramento - 03/13/14 01:59 AM
At least when an agent is dealing with a Fannie Mae short sale, even with all of its supposed improvements, the agent is still dealing with the devil she knows. These government-sponsored entities, although winding down operations, have been the proverbial thorn in every short sale agent's side, from California to Maine for years. It doesn't matter whether the investor is Freddie Mac or Fannie Mae, both are equally a PITA to a Sacramento short sale agent.
You can't ignore them but you can find a way to somewhat work with them. I believe in taking the proactive approach to my … (4 comments)

fannie mae short sale: Are Aliens Processing Your Green Tree Short Sale? - 10/25/12 01:00 AM
You really can't be an effective Sacramento short sale agent if you don't have a sense of humor. Because you've got to find a way to laugh during the day or you might decide to smash your brains into the concrete as a way to stop the pain. Especially if you're working on a Green Tree short sale, which can try the patience, I imagine, of even a Tibetan monk.
I have a short sale with Green Tree that has four mortgagors. It's a Fannie Mae short sale and Green Tree is the servicer, having picked up this loan from the … (9 comments)

fannie mae short sale: Breaking News: GSE Short Sales No Longer Require Default - 08/22/12 12:00 AM
I was so excited when I heard the news yesterday that sellers don't have to be in default anymore to do a government short sale, I was jumping up and down. Thanks to my friend at Bank of America who sent me the press release from FHFA. My handyman was over at the house working on my garage roof, so I yammered on and on about it to him. Not that he probably cares but he has more to say to me than other occupants of the house, which would be meow, meow.
This is huge. HUGE. The FHFA had just … (10 comments)

fannie mae short sale: Why Things Don't Work Right at Fannie Mae - 08/07/12 11:54 PM
Honestly, I don't know why things don't work right at Fannie Mae. I know simply that no matter what kind of short sale bank I'm working with on a short sale, if the investor is Fannie Mae, it means problems. Problems for me, problems for the seller and, by extension, problems for the poor buyer.
You'd think the government would fix Fannie Mae, but it can't. It can't fix Fannie Mae and it can't fix Freddie Mac, either. Here is a blog about Fannie Mae and Other Things That Don't Work Right.
Photo: Shutterstock
(7 comments)

fannie mae short sale: Will a Buyer's Agent Tell a Buyer Not to Buy Her Dream Home Because the Agent is Not Paid Enough? - 02/27/12 11:23 PM
The thing about being a Sacramento short sale agent is the surprises just keep coming. No matter that I've been in the business for more than 35 years, I still haven't heard it all. Even though I've been selling short sales pretty much exclusively going on 7 years. See, one of the reasons I write this blog is because there is an abundance of new stuff every single day to blog about. There's always something horrible happening. It's the way of the short sale, grasshopper.
For starters, all of my listings contain verbiage in MLS that discloses to buyer's agents the … (7 comments)

fannie mae short sale: Should You Do a Short Sale With Bank of America? - 01/23/12 02:19 AM
I get a lot of phone calls from buyer's agents in Sacramento asking me who the lender is on a short sale. They are wising up and realizing that not every agent in Sacramento who lists a short sale is likely to close that short sale except, perhaps, for me. So, their broker has given them a list of questions to ask a Sacramento short sale agent. The problem with this approach is they don't know what to do with the answers they get.
They think multiple loans is a bad sign, which is not true. They hear Bank of America … (3 comments)

fannie mae short sale: The Worst Thing to Ever Have to Tell a Sacramento Short Sale Seller - 01/20/12 02:14 AM
I could say the seller should have called this Sacramento short sale agent sooner in the process. But so many drag their feet to the last possible worst moment. I could say the buyer should have increased his offer by $2,000 when I asked him to do it. But many buyers are dumb. I could say a lot of things about why this particular short sale went to public auction instead of to closing, like the rest of my short sales do. It is very, very rare to lose a short sale to auction.
Part of the reason is the investor … (8 comments)

fannie mae short sale: Here is the Most Recent Update for a Bank of America Short Sale - 10/28/11 02:59 AM
I attended another Bank of America short sale webinar yesterday. I was hoping for some breaking news but it was stuff I already knew. With the exception of one little piece of information that I bet most other agents didn't catch. And they didn't really say what they are going to do with that. I'm always searching for that little gem that teaches me something new.
Here are some of the highlights; then I'll get to the down-and-dirty part:
Single Point of Contact. The homeowner will now have an individual person to talk to at Bank of America. I suspect this … (7 comments)

fannie mae short sale: Fannie Mae Will Send Your Home to Foreclosure Instead of Granting a Short Sale - 08/24/11 02:51 AM
You can hire the wrong short sale agent. Especially in Sacramento where lots of agents are jumping on the short sale bandwagon. If you do, Fannie Mae will send your home to foreclosure instead of granting a short sale. It's the way of Fannie Mae.
But first, let me share with you that a client said the nicest thing to me yesterday. Really touched my heart. We closed his short sale in Gold River in 8 calendar days. Actually, we closed one day early, because we were up against the sale date and there was no way to postpone the auction. … (8 comments)

fannie mae short sale: Fannie Mae Will Rarely Postpone an Auction for a Fannie Mae Short Sale - 08/17/11 03:02 AM
If I hear the term "our mutual client" one more time, I'm gonna puke. OK, not really. But you know the sentiment. I get a lot of mortgage loan officers bugging me because I sometimes suggest that buyers start the loan process prior to approval. The horrors. I do this so the buyers can close. That's because short sale banks and mortgage loan officers are rarely in sync. The banks give us shortened periods of time in which to close, and mortgage loan officers tend to want a minimum of 30 to 45 days. We can't always get a short sale … (10 comments)

fannie mae short sale: Short Sale Extensions, Postponing an Auction, and Goldilocks and the Three Bears - 06/30/11 03:18 AM
I've got news for all you fans of Goldilocks and the Three Bears. We've been lied to all these years. We, as busy people, tend to take whatever has been shoveled our direction as the truth -- like FOX News -- without ever thinking about it.
With Goldilocks, what you have here are 3 hungry bears who went for a walk in the woods. They come home to find out a stranger has a) broken into their house, b) eaten all of their food, c) broken their furniture and d) a little defenseless girl with a bloated stomach is sleeping right … (7 comments)

fannie mae short sale: The Number One Short Sale Question - 05/26/10 02:02 AM
One of the main questions sellers who are contemplating a short sale always ask is whether they should stop making mortgage payments. There is no cut and dry answer to that question. Not to mention, it's also a legal question best answered by those in the capacity to render such advice -- which automatically bars real estate agents from answering it, unless those agents sport a J.D. after their names.
Every situation is different. Every short sale seller is different. Some sellers have a high tolerance for risk and others do not. See, the thing is if you stop making a … (10 comments)

fannie mae short sale: A New Twist on Sacramento Short Sale Mortgage Fraud - 02/04/10 01:05 AM
All I can say is thank goodness Lyon Real Estate has hired a top-notch legal firm that its real estate agents can go to for advice. I realize the sentiment among agents in the real estate community is that lawyers always say no to questions because the liability is too great, but that's not necessarily true. Lawyers, believe it or not, try to find ways to make transactions close. But sometimes, it's impossible to find a work-around because the parties could be committing fraud.
As an experienced and trusted Sacramento short sale agent, it's my job to maintain my fiduciary relationship … (35 comments)

fannie mae short sale: Don't Jeopardize the Home Buyer Credit When Buying a Short Sale - 01/16/10 12:24 AM
OK, I admit it. I'm one of those obnoxiously organized people you read about. I have systems for everything because it keeps me efficient. I'm also rarely late for a meeting. If I make an appointment with another person -- doesn't matter who it is, a buyer for homes in Land Park, a Sacramento short sale seller, the pest inspection guy or my hairdresser -- I'll show up 5 minutes early.
That's because I plan ahead. Always looking into the future. Sometimes, I go so far as to look up the time distance between my origination and destination on Google Maps, … (7 comments)

fannie mae short sale: Fannie Mae Pushes Short Sale Sellers into Default, Gets Bonus Pay and Bailout Relief - 01/01/10 01:33 AM
I received a phone call from a short sale seller in Michigan yesterday. He found me through an Active Rain blog about Fannie Mae short sales, and how Fannie Mae is insisting that my Sacramento short sale sellers who are current on their payments go into default before Fannie Mae will approve a short sale. The caller said his short sale was denied by Fannie Mae because he was current. To qualify for the short sale, he was instructed to stop making his mortgage payments and go into foreclosure. The seller was devastated.
Don't blame him for being angry. This is … (18 comments)

fannie mae short sale: If Your Sacramento Short Sale Involves a Fannie Mae Loan in Default, It Might Not Close - 12/18/09 12:43 AM
A Fannie Mae short sale is no picnic, just ask any Sacramento short sale agent how adding an extra layer to the transaction can delay approval. Now, Fannie Mae is beginning to enforce another guideline. Fannie Mae says if a California short sale is in default -- meaning a Notice of Default has been filed and an auction date is set -- it will NOT allow a postponement of a trustee's sale. This means short sale sellers and their agents had get better those transactions approved and closed prior to that sale date or they're out of luck.
Sometimes sellers call … (9 comments)

 
Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you (RE/MAX Gold) Rainmaker large

Elizabeth Weintraub Sacramento Realtor Top 1%

Put 40 years of experience to work for you

Sacramento, CA

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RE/MAX Gold

Address: 3620 Fair Oaks Blvd, Sacramento, CA, 95864

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Broker-Associate at RE/MAX Gold, Midtown and Sierra Oaks Sacramento office. Co-partner Weintraub & Wallace Realtors. Selling since 1974. Homebuying expert at The Balance. Weintraub & Wallace sells homes from Galt to Lincoln.< Author Bio: Elizabeth Weintraub is a Sacramento real estate broker, author, home buying expert for The Balance, a Land Park resident, who specializes not only in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento but sells extensively from Elk Grove to Lincoln. Weintraub is prominently known as the #1 Sacramento Short Sale agent throughout the Sacramento four-county area. Call Elizabeth Weintraub at 916.233.6759. Put 40+ years of real estate experience to work for you. View all AR Posts By Elizabeth Weintraub Elizabeth Weintraub website  


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