short sale specialist: What Would Dave Ramsey Think About A Antioch CA Short Sale? - 01/10/13 12:02 AM
 
Antioch CA – You might have heard of Dave Ramsey. He has a popular radio program where he talks explains the benefits of getting out of debt.
Dave is a zealot for the debt free life. “You don’t need to see the inside of a restaurant unless you are working there”, he will tell people in financial trouble that call his show.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
What does Dave recommend that someone should do in order to get out of debt? Reduce spending, eat at home, pay off … (2 comments)

short sale specialist: Antioch CA Short Sales: How To Get A Short Sale Lender To Waive A Deficiency - 01/04/13 02:18 AM
   
Antioch CA – The Stop Foreclosure Institute recently received a question from John. Here is John’s Question.
“I just received a full price offer on my house. My main concern is that I don’t get stuck having to pay off the deficiency. I have a first and 2nd with Chase and owe 270K on the home. The buyer’s loan is also with Chase.
How can I work this out so that I can walk away from this without owing any money? Is it even possible with such a large difference between what the house is worth and what … (1 comments)

short sale specialist: Antioch CA Short Sales: I Have Mortgage Insurance. Won’t That Cover The Deficiency? - 01/03/13 03:48 PM
 
Antioch CA – The Stop Foreclosure Institute recently received a question from Max. Here is Max’s Question.
“If I pay mortgage insurance and default on my loan, wouldn’t that cover the deficiency amount? Max.”
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is our answer to Max’s Question: Yes, the Mortgage Insurance should pay your lender for any loss. So that reduces the amount that your lender will lose on the short sale.
There are a couple of problems. Many Mortgage Insurance Companies have gone bankrupt. They can’t pay on their … (1 comments)

short sale specialist: Antioch CA Sales Aren’t The Credit Disaster Many Portray Them To Be - 10/08/12 08:55 AM
   
Antioch CA – I read in the newspaper that a short sale will destroy the seller’s credit. The article made it sound as though a short sale equaled doom for your credit.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
I wanted to clarify exactly how a short sale does affect your credit. Does a short sale damage your credit? Yes. Consider if the benefits from a short sale outweigh the credit damage.
If you are in foreclosure, your credit has already been damaged. What happens if you do nothing and … (0 comments)

short sale specialist: Why You Shouldn’t Be Embarrassed To Short Sale Your Antioch CA Home? - 08/14/12 01:22 PM
 
Antioch CA – Many people are embarrassed that they are short selling their house. They feel like a failure. Others think that they are somehow being dishonest or shady.
Neither one of those is true. A lot of the people short selling today never had a blemish in their credit. They lived responsible financial lives.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Then the real estate market crashed and left them owing hundreds of thousands of dollars more than their home was worth. For years everyone had told them that couldn’t … (4 comments)

short sale specialist: I Want To Buy A Antioch CA Short Sale Property. Why Is It So Difficult? - 08/03/12 01:52 AM
 
Antioch CA – The Stop Foreclosure Institute recently received a question from Daniel. Here was his question.
“I am trying to buy a short sale property. I put my offer on the property a few months ago. The property was priced about 50% lower than the other homes in the area.
The bank finally approved the short sale. However, they said that I have to pay the back taxes, unpaid homeowner’s association fees, and the seller’s closing fees.
I agreed to do that because the home was such a good deal. However, now that I’ve agreed to that the … (0 comments)

short sale specialist: Three Costly Mistakes Buyers Make when Buying A Antioch CA Short Sale - 08/02/12 04:15 PM
 
Antioch CA – Buying a short sale can be a great idea. Most short sale properties are priced very competitively to other homes on the market.
However, buying a short sale is not easy. The seller has to convince the lender to accept a big loss on the mortgage. Banks do not like losses. Because of that they double check everything before approving the sale.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
The biggest thing you need to be aware of is that there is no guarantee that the seller’s lender … (0 comments)

short sale specialist: Antioch CA Short Sales: How To Do a Bank of America Cooperative Short Sale - 02/06/12 05:08 PM
    Antioch CA – You can hire a real estate agent if you want to, but it’s not a necessary step to get preapproved for the short sale. I help my sellers get preapproved but not every short sale agent offers this type of service because we don’t get paid to do it
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is how the program is approached:
1. Write a hardship letter.
2. Send the hardship letter to the bank and ask the bank to do a Cooperative Short Sale.
3. Follow … (0 comments)

short sale specialist: Antioch CA Short Sales: Drawbacks To Bank Of America’s New Short Sale Program - 02/02/12 05:52 PM
    Antioch CA – Despite the fact that the Cooperative short sale may help the borrower leave the home without some of the negative aspects of a foreclosure, it has its drawbacks that you may need to consider before you decide to explore this option. Below are some of the drawbacks:
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Deed in Lieu. In the event that your home does not sell, then the program stipulates that the next step is a deed-in-lieu of foreclosure.
This affects your credit just like a foreclosure does. … (0 comments)

short sale specialist: Antioch CA Short Sales: Why Bank Of America Is Offering A New Short Sale Program - 02/01/12 03:21 PM
  Antioch CA – A cooperative short sale may be a good option depending on your situation.
But, you need to remember that Banks are not in the business of making life easier for its customers, much less anyone trying a short sale.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Banks are in business to turn a profit. The main reason Bank of America has initiated the Cooperative Short Sale is to increase the bank’s bottom line profit.
They increase their profit whenever they cut losses on loans that are in default. The … (0 comments)

short sale specialist: Antioch CA Short Sales: Good News On Bank of America Short Sales - 01/31/12 05:06 PM
    Antioch CA – Bank of America is rolling out a new short sale program that will provide the quickest route to a short sale decision.
The bank came up with this programs to help ensure that homeowners are able to explore all their options and avoid foreclosure.
This program, named the Bank of America Cooperative Short Sale Program, minimizes the challenges of traditional short sales – such as having to wait up to 60 days for a representative to even be assigned to your sale.
Click here to discover how other sellers successfully did a short sale and avoided … (2 comments)

short sale specialist: Antioch CA Short Sales: What Else Goes Into a Hardship Letter? - 01/26/12 07:21 PM
    Antioch CA – You should put every little thing you have to show that your situation is real and that you cannot afford to make your mortgage payment.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Use numbers and percentages to explain the loss your of income or negative cash flow. For example, instead of saying “I’m borrowing money to make the mortgage payments”, disclose the dollar amount and source of that debt.
A good example would be: “I’ve borrowed $10,000 against my VISA card to make my payments over the past … (0 comments)

short sale specialist: Antioch CA Short Sales: Don’t Be Afraid To Tell The Truth In Your Hardship Letter - 01/25/12 05:46 PM
  Antioch CA – It is not a lot of fun to write a hardship letter. In fact, it can be depressing. Many people may not know how bad their lives have become until they reach a point of writing a hardship letter.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Sometimes seeing all those awful things in writing is startling and some people start crying. However, do not turn and start talking about how your life will improve.
Do “NOT” share your hopes and dreams for the future with the bank. It’s none … (1 comments)

short sale specialist: Antioch CA Short Sales: The Basics Behind a Hardship Letter - 01/24/12 05:43 PM
  Antioch CA – When I interview sellers who want to short sale in my area, I ask them to describe their hardship.
Agents who do a lot of short sales can sometimes become a little insensitive because we are focused on the statistics. For instance, when a seller says she is getting divorced, it’s possible that I may not show a lot of emotion.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Then I realize how that comes across, which is not at all in the way I intended it. Trying to … (1 comments)

short sale specialist: What Constitutes A Hardship On An Antioch CA Short Sale? - 01/23/12 04:42 PM
 
Antioch CA – Many people think a hardship is mainly based on financial matters and that is not necessarily the case.
Anything that makes it difficult for you to keep on making a mortgage payment might qualify to be a hardship.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
One thing that the bank doesn’t want to see is a homeowner who seems to be looking for a way out simply because the home is not worth the amount the owner paid for it.
Being upside-down is one of the qualifications for … (4 comments)

short sale specialist: Antioch Short Sale Question: My property is in rough shape and needs work. Can I still do a Short Sale? - 01/19/12 05:56 PM
    Antioch CA – The Stop Foreclosure Institute recently received a question from Dan. Here was his question.
“My property is in rough shape and needs work. Can I still do a Short Sale? Dan.”
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here was our answer to his question. You can still do a short sale. It is a fact that lenders are more motivated to do a short sale on a property that needs repairs than on a property that doesn’t.
Most lenders understand that the risk of loss goes up … (0 comments)

short sale specialist: Antioch CA Short Sale Question: What Kind Of hardship Would My Lender Consider Legitimate? - 01/18/12 05:58 PM
    Antioch CA – The type of hardship that your lender will consider legitimate depends on the mortgage company considering the Short Sale request.
In general, so long as the hardship is real & acceptable and the mortgage company believes the loan is likely to become delinquent. As a result, the Short Sale request will be processed by the Loss Mitigation Department.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
A big key to getting your lender to accept a hardship is to submit a strong hardship letter. The hardship letter sets the … (0 comments)

short sale specialist: Antioch CA Short Sales: How To Keep Your Home With A Forbearance Agreement - 01/17/12 04:00 PM

Antioch CA – With a forbearance agreement, your bank agrees to hold back on its legal right to exercise foreclosure on you. They do this by coming up with a plan to bring you current on your mortgage payments after giving you some kind of a breather period.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
In Forbearance, your mortgage payments are either reduced or suspended for a time agreed on by your lender.
After the Forbearance period, you will be expected to resume making old payments plus make some additional partial payments to cover the arrears … (0 comments)