mountain view short sales: Past Due Mountain View Helocs Can Be Sold To Collection Agencies
- 08/23/11 04:36 AM
If you are an owner of a home with a second loan that is a Home Equity Line and you are having trouble paying your mortgage you should do something about it right away. I know you have probably heard that banks are taking up to 2 years to foreclose so you have plenty of time, but there is a dirty little secret in the mortgage world. HELOCs are not entirely like traditional mortgages, they are more like credit cards. If you do not pay your first mortgage your lender needs to find a way to collect the money or take … (0 comments)
mountain view short sales: Can a Bank Really Change My Locks on My Mountain View Short Sale?
- 07/24/11 04:21 PM
Seems like a bizarre question doesn't it? Well guess what, it is not. If you are selling your home as short sale the bank may have the right to send a property preservation company to the house and "secure it" if they feel the house is vacant and abandoned. But it is still my house, right? Yes, it is still your house, even if you have stopped making payments, but here is the catch. Many loans contain clauses that say if you abandon your home the bank has a right to secure the property to preserve their interest in the home … (2 comments)
mountain view short sales: Buyers of Mountain View Ca Short Sales Should Not Buy the Seller's Furniture
- 07/13/11 10:54 AM
When a buyer makes an offer on a Mountain View, or any Silicon Valley Short Sale they ocassionally want to purchase some of the furniture in the house. Sometimes there is a couch that fits perfectly in the family room, or a dining room table that is too big for the seller's new house and they want to sell it. It's ok to do that, right? NO NO NO NO NO!!!!!!! Should I say it again? Ok, NO DO NOT DO IT!!!!! Here is why. The seller is not allowed to have any gain from the sale of the home. The … (1 comments)
mountain view short sales: What to Do If Credit Report Shows Foreclosure Instead of a Silicon Valley Short Sale
- 07/10/11 07:26 AM
Credit reports frequently have mistakes. Very often consumers are not aware of these mistakes until they are trying to obtain credit for a large purchase like a home or car. There is a process for rectifying credit mistakes, but it can take some time. As more and more short sales are being processed it is only natural that some mistakes are showing up on credit reports, especially since there is no standard way for a credit report to reflect a short sale. The bank may report loan paid as agreed, or loan paid for less than the full amount. Which ever … (27 comments)
Mountain View Ca. Short Sale and Foreclosure Update 12/4/2010 Are you waiting for a distressed property for sale in Mountain View so you can snatch a bargain, or are just curious about them? Well, there are a few of these types of sales, but not that many. Short sales, as in other places, are more common than foreclosures. Most banks are at least giving homeowners the option to try to do a loan modification or short sale before foreclosing. These options do not always work, but they are worth a try. Active Short Sale Listings: 20 Pending short sale … (3 comments)
HAFA does it, and now Bank of America is trying it. What is it? In a short sale the seller owes more to the bank than their home is worth. In order to sell the home the bank or banks have to agree to accept less than property is worth to satisfy the loan. The problem is that no one knows what the bank will accept until they get an offer and that offer is analyzed by the lenders. Since this often takes many months it can often lead to foreclosure at worst, and incredible frustration at best.
If you are an owner of a home with a second loan that is a Home Equity Line and you are having trouble paying your mortgage you should do something about it right away. I know you have probably heard that banks are taking up to 2 years to foreclose so you have plenty of time, but there is a dirty little secret in the mortgage world. HELOCs are not entirely like traditional mortgages, they are more like credit cards. If you do not pay your first mortgage your lender needs to find a way to collect the money or take … (0 comments)
;)
;)
;)
