homes in hollister ca: Do I Need To Disclose Anything Wrong With My House? - 08/24/15 08:39 AM
Hollister CA – The Stop Foreclosure Institute recently received a question from Will. Here was his question.

“I am thinking of short selling my house. There are some problems with the house. I know that most home buyers get a home inspected before they buy it.

Do I have to tell them about the problems? Or, should I leave them for the inspector to find? Will.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer. Will, we would disclose everything to the home … (2 comments)

homes in hollister ca: Fixing Credit After A Hollister Short Sale - 06/24/14 05:04 AM
Hollister CA – If you have a foreclosure or short sale on your credit report, then it will lower your credit score quickly. In the near term, the decrease will be much more than it will be a few months down the road when it starts to inch its way back up.
The credit reporting bureaus weigh the most recent activity more heavily than the distant past.
Taking action now to build up the most recent activity is a great way to help your score rebound. So for now, here are the things you should be doing from this … (0 comments)

homes in hollister ca: Hollister Short Sales: Can I Rent My Home If It Is In Foreclosure? - 05/30/14 11:06 AM
Hollister CA – The Stop Foreclosure Institute recently received a question about renting a home in foreclosure.
Short Sale Question: I am selling 2 of homes that are short sales. I would like to rent the homes during the foreclosure process. I will continue to pay the home owners association fees. I will not be paying the mortgage.
Is it legal to do this? Is there any liability that comes with it?
Here was our answer to them. The Stop Foreclosure Institute is not a law firm. Therefore, we can’t answer as to whether or not it is legal. We … (0 comments)

homes in hollister ca: Short Sales: Getting divorced, neither can afford, what to do? - 04/02/14 01:47 AM
Hollister CA – In this case I would recommend you sell the house. Now, if you are reading this blog, then you must be researching a short sale.
Which means that you are probably upside down on the home. You have three options.
Option #1: Let your lender foreclose on the home. You just stop making the payments and surrender the home to your lender.
Option #2: Short Sale the house and get the debt wiped out. A short sale offers the following benefits over a foreclosure.
Issue: Can I get a Future Fannie Mae Loan?
Foreclosure: The current Fannie … (0 comments)

homes in hollister ca: What You Should Look For In A Buyer For Your Short Sale Property - 03/12/14 02:46 PM
Hollister CA – Short Sales can be tough. Many buyers don't understand the process and think that since it is a buyer's market, then they set the rules. That's not the case.
You, the seller set the rules. After all, you still own the property. But, more importantly, you must set the rules for offers. If you don't then you dramatically reduce your odds of successfully short selling your property.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is what you should think about before you take your home off of the … (1 comments)

homes in hollister ca: Do I Still Have To Pay Property Taxes If I Do A Hollister Short Sale? - 02/26/14 09:05 AM
Hollister CA – The Stop Foreclosure Institute recently received a question from Paul. Here is Paul's Question.
"I am thinking about a short sale, but I am behind on my property taxes. Will I still have to pay them if I short sale my home? Max."
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is the answer to Paul's Question: In most cases your lender will pay those property taxes. Property taxes are a first priority lien on a property.
That means that if a property is foreclosed upon, then they still … (0 comments)

homes in hollister ca: Is It Legal For A Seller to Buy The House He's Short Selling? - 01/24/14 06:15 AM
Hollister CA – The Stop Foreclosure Institute recently received a question from Mau. Here is Mau's Question.
"Is it legal for a short sale seller to buy the house he is selling on short to reduce his mortgage loan?” asked Mau.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here was our answer. We don’t know of any law on the books that forbids a person from buying a home they are short selling. Here is what we do know.
Most banks and lenders don’t allow it. If the short sale negotiator … (2 comments)

homes in hollister ca: What Do I Owe You If The Short Sales Isn't Successful? - 12/11/13 05:34 AM
 
 
Hollister CA – The Stop Foreclosure Institute recently received this question from Tamra. Here is Tamra's Question.


"I would like to hire you to help me short sale my house. However, I am concerned that if the short sale doesn't go thru, then I will still owe you money. My friend told me to check on that before I started.


Is it true that I would owe you money if the short sale didn't go thru? Tamra."


Here is the answer to Tamra's question.


Tamra, No, you will not have to pay anything if the … (0 comments)

homes in hollister ca: Hollister Short Sales: How To Look At A Short Sale From Lender’s Side - 11/05/13 04:10 AM
Hollister CA – The Stop Foreclosure Institute received a few responses from yesterday’s blog post. Most of the questions went something like this.
"I think a lender would be stupid to approve an investment property short sale for a wealthy person. If I was the lender I would sue them for the loss. Jan.”
The bottom line is that people didn’t think a lender would allow a wealthy person to walk away from the debt on an investment property.
Here are a few reasons that a lenders will allow a wealthy investor to walk away from an upside down … (0 comments)

homes in hollister ca: Should I Short Sale or Keep trying to Save the House? - 10/25/13 07:55 AM
[caption id="attachment_1837" align="alignright" width="300" caption="Your upside down home should not be a burden to you. "][/caption]Hollister CA – We at the Stop Foreclosure Institute receive calls all the time that go something like this “I have fought the bank for year and half, and after paying thousands and thousands I have decided to short sale, can you help me”?
Because of this, I decided to break down the reasons to short sale your home. In addition I added in a few reasons you should NOT consider A Short Sale:
Do NOT Short Sale if the value of your home is … (0 comments)

homes in hollister ca: Hollister Short Sales: Find The Short Sale Negotiators E-mail Address - 08/29/13 07:38 AM
Hollister CA – Many agents get frustrated because they know who the short sale negotiator is, but they don’t have any way to communicate with them.
Most short sale negotiators communicate by email. But, they usually wait until they are well into the transaction before they give you their e-mail.
Here is a technique that you can use to find their e-mail. In most cases their e-mail is their name. For example, James Rush’s e-mail would by james.rush @ bankofamerica.com.
We try james.rush, jim.rush, jim.a.rush, james.a.rush, and run thru all the middle initials in the alphabet. The bad … (0 comments)

homes in hollister ca: Is My Hardship Legitimate For A Hollister Short Sale? - 06/25/13 04:49 AM
Hollister CA – The Stop Foreclosure Institute recently received a question from Dan. Here was Dan’s Question.
"I recently purchased another home and tried to sell my former home. It isn’t selling and I can’t afford to make both payments. The home won’t rent for even 1/2 of the mortgage payment.
An agent told me the house is worth about $50K under the mortgage amount. Is it realistic for me to try the short sale? The only hardship created was when I decided to move to a larger home for family. Dan."
Click here to discover how other sellers … (0 comments)

homes in hollister ca: Step 7 To Fix Your Credit After A Hollister Short Sale: Waiting Period - 06/13/13 08:02 AM
Hollister CA – The next step in the process of getting a cleaned up credit report, is the one that takes the least effort, but the most patience: WAITING.
You’ve done your part to get the ball rolling, and now the credit reporting companies have to do their part.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
What happens during this phase is that the credit reporting agencies have 30 days to investigate.
I use the term loosely here because the methodology that they use is not very investigatory. They take … (0 comments)

homes in hollister ca: Why I Recommend That Home Buyers Avoid Buying A Hollister Short Sale With Three Mortgages - 05/23/13 06:48 AM
Hollister CA – Are you looking to buy a short sale? Before you make an offer, you need to check and see how many mortgages are on the home.
A short sale with only one mortgage is not that difficult. Even an inexperienced agent can often get these approved and sold.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
A short sale with 2 loans becomes much more difficult. You now have to lenders that have to agree with each other. However, an experienced short sale agent can get the two lenders to … (0 comments)

homes in hollister ca: How Does My Realtor Get Paid On A Hollister Short Sale - 04/15/13 08:07 AM
Hollister CA – A potential home seller asked The Stop Foreclosure Institute how we get paid on a short sale transaction. So I decided to answer that question in today’s blog post.
Here is how most Realtors get paid on a short sale. They make a real estate commission from the sale of the property. When the property sells a percentage of the sales price is paid as a commission.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Man sellers mistakenly think that since there is no equity in the property, then there … (0 comments)

homes in hollister ca: The Most Effective Way To Stop Debt Collector Harassment - 03/29/13 05:01 AM
Hollister CA – Debt collectors are infamous for multiple phone calls at all hours of the day. One person told the Stop Foreclosure Institute that he would receive several phone calls the first thing Sunday Morning.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
"They would call my home phone at 8:15AM on Sunday. This was the only day that I had to sleep in and they woke me up. I had 2 other people call me before noon", he told us.
This is the biggest complaint the Stop Foreclosure Institute has … (2 comments)

homes in hollister ca: A Common Mistake Being Made On Hollister Short Sales - 03/08/13 06:27 AM
Hollister CA – I see a lot of agents making mistakes on short sale property valuation. Lenders hire a supposedly impartial third party to value the property.
Many of these people are evaluating 10 properties a day. There is very little quality control and usually no one checks their work.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Because of that, I always try to meet them at the home when they are doing their inspection. I explain the history of the property and why it is selling for that price.
… (1 comments)

homes in hollister ca: Hollister Short Sale Question: Does It Make Sense To Pay My Credit Cards If A Short Sale Will Harm My Credit Anyway? - 02/15/13 03:35 AM
Hollister CA – The Stop Foreclosure Institute recently received a question from Paul. Here is Paul's Question.
"I am selling my house as a short sale. I am behind on the mortgage payments. Do you think I should still pay my credit cards?" Paul.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is our answer. It all depends on what is important to you. Can you afford your mortgage payment if you stopped paying the credit cards?
If the answer is yes and you don't want to move, then I would … (1 comments)

homes in hollister ca: Thinking About Short Selling Your Upside Down Hollister Home? Here Is Why A Short Sale Causes Your Home To Sell For More - 02/01/13 05:44 AM
Hollister CA – People often wonder why their lender will release their debt in a short sale.
Most lenders don't like to release the debt. But, they agree to do it because they know that policy nets them more money.

They net more because a home usually sells for more money as a short sale versus after it has been foreclosed upon. Let's go thru a few examples.
See the home in the top picture? You can see that it is good shape. Most short sales are being sold while the homeowner lives in the home.
The homeowners … (0 comments)

homes in hollister ca: Misconception: I've Heard Banks Won't Do Short Sales. Is That True? - 10/10/12 06:03 AM
Hollister CA – I recently talked to a homeowner in foreclosure. She had heard of the short sale option. But, someone had told her that short sales are tough.

They told her, "Banks never accept short sale offers. You are wasting your time if you try one." As a result, she never researched her options and lost her home to foreclosure.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Many agents close short sales day in and day out. Short Sales are a specialized endeavor. They are much … (1 comments)