short sales: Should I Continue Paying Credit Cards During A Antioch Short Sale? - 01/21/14 12:37 PM
      Antioch 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. I 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 … (0 comments)

short sales: How A Antioch CA Short Sale Can Help You And Your Neighbors Avoid The Side Effects Of A Foreclosure - 11/07/12 12:28 PM
   
Antioch CA – The Stop Foreclosure Institute recently received a question from Werner. “I am behind on my payments and thinking of just letting my home go into foreclosure. What does that do to the neighborhood?” he asked.
Here is our answer to his question. It does hurt the neighborhood. But, it also hurts you.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Most banks do not do a good job and processing and handling foreclosures. They take 12-18 months to foreclosure on a house and then sell it.
In the … (0 comments)

short sales: How Soon Can I Buy Another Home After A Antioch CA Short Sale? - 11/05/12 06:09 AM
  Antioch CA – We receive this question a lot. “I am upside down and need to move. I would like to buy another home. Can I do that?” they ask us.
Today they can. FHA (the Federal Housing Administration) has a new program that enables you to short sale your existing home and buy a new home right afterwards.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
The home you purchase would have to meet FHA’s standard lending guidelines. FHA is a great mortgage program.
In fact, more people buying a home in … (0 comments)

short sales: Why Lenders Approve Antioch CA Short Sales When A Borrower Is Current - 10/04/12 08:37 AM
   
Antioch CA – It sounds weird that a lender would approve a short sale when a homeowner is current on their payment. There is a logical reason that they do it. Let me explain.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Let’s look at a person who owes more than their home is worth and moves for a job transfer. Their lender does not approve their short sale.
The lender tells them, “We granted the loan thinking you were a credit worthy borrower. We expect you to repay us every … (0 comments)

short sales: Strategic Default Or Antioch CA Short Sale. Which Is Better For You? - 10/02/12 07:59 AM
           
Antioch CA – If you are upside down, then you might be tempted to walk away. You’ll mail your keys to the lender and move out.
Before you move out, I have some important information to tell you. You should stay in the house for as long as possible.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
In fact, the average length of time you can live for free is 461 days. That number is a statistic I’ve seen lots of people throw around.
I just tried … (0 comments)

short sales: Who Actually Makes The Decision On Approving Or Denying A Antioch CA Short Sale? - 10/01/12 01:31 AM
   
Antioch CA – Is your loan with a large lender such as Wells Fargo or Bank of America? They usually don’t make the final decision on your short sale. Here is why.
In most cases, the lenders are working as a servicer. They are handling the loan for a third party (the actual owner of the loan.)
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
This third party owner can be a corporation, a pension fund, a wall street firm, or split up between thousands of different people.
Or the owner … (0 comments)

short sales: Antioch CA Short Sales: Don’t Stress Out Over Financial Problems - 09/27/12 09:10 AM
   
Antioch CA – If you are in financial trouble, then I’m sure you’re worried. Here are a few things I see people worry about that aren’t as bad as they think.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Financial Worry #1: We could be forced to move out of our house at moment’s notice. If you own your house, then I have some good news.
Most lenders are taking 6-12 months to file foreclosure. The debt collectors don’t always tell you the truth. Many get paid bonuses based on how … (0 comments)

short sales: How A Antioch Short Sale Can Help Save The Antioch Housing Market - 09/12/12 02:54 PM
   
Antioch CA – Short Sales and foreclosures have a big impact on home values. But, how they affect them varies dramatically. Every short sale helps stabilize the housing market.
The reason is because short sales sell for much more than a foreclosed property does. Most short sales have a homeowner who still lives there. The homeowner has kept the home in good shape.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
They mow and water the lawn, trim the bushes, and keep up on the house. Now, let’s contrast this with … (0 comments)

short sales: Will Missed Payments To Your Homeowner’s Association Affect The Short Sale Of Your Antioch CA Home? - 08/30/12 03:56 PM
 
Antioch CA – Many people don’t think they are eligible for a short sale because they have unpaid homeowner’s association dues. Don’t worry about paying them yourself.
When you short sale your home the association dues will be paid by your lender. Most of the time the amount owed to the homeowner’s association is a very small percentage of the overall sales price.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Lenders know that a short sale will net them substantially more money than a foreclosure. I have an example in the … (0 comments)

short sales: Buying A Antioch CA Short Sale? Here’s How To Know If Your Offer Will Be Approved - 08/28/12 08:33 AM
 
Antioch CA – Buyers often contact me for advice on short sales. They are frustrated with the short sale process and want to know why their offer hasn’t been accepted.
“I made an offer on a short sale property six months ago. How come I haven’t received an answer yet?”, they ask me. Most people don’t know that it is fairly simple to determine if a short sale offer will be approved.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
You simply need to know what the lender’s guidelines are for approval. … (0 comments)

short sales: 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 sales: 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 sales: Be Careful What You Post On Face book When Trying To Short Sell Your Antioch CA Home - 08/01/12 02:46 AM
   
Antioch CA – Let’s say a friend owes you a thousand dollars. They come to you with a sob story about how they are broke and cannot afford to repay you.
“I am so broke that we are about to lose our car. And the electricity was turned off last month when we missed the payment. I can’t even afford diapers for our son”, they tell you.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
You tell them just to forget about the debt. “Don’t worry about paying me back. I … (1 comments)

short sales: Do Some Realtors Actually Hate Antioch CA Short Sales? - 07/12/12 06:34 AM
   
Antioch CA – Realtors have a very important role when it comes to helping sellers short sell their homes. It is the realtor who works to attract the purchaser by communicating with buyers and their realtor.
The seller’s agent and the buyer’s agent often have to negotiate to come up with a consensus that is acceptable to both clients. Getting everyone to come to a mutual agreement is not an easy task for realtors.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Realtors get stressed out because of the task that … (1 comments)

short sales: A Common Antioch CA Short Sale Myth: You Must Have Missed a Payment Before Your Lender Will Consider a Short Sale - 07/11/12 03:31 PM
Antioch CA – It is thought that lenders tend to permit short sales only when and if a borrower has missed a payment. This is not true. Lenders also take into account other hardships the borrower may be encountering such as a divorce, job transfer, relocation, etc.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
No lender will consider a short sale just because a borrower has missed a payment. The lender also looks at the borrower’s financial status including tax returns, budget, bills, income, etc.
After reviewing that documentation they decide whether or … (0 comments)

short sales: A Common Antioch CA Short Sale Myth: The Realtor Is Required To Submit All Offers to the Short Sale Lender - 07/09/12 04:36 PM
   
Antioch CA – Many people have misconceptions about a short sale and how it works. Many people think that the seller’s realtor and the seller are required to submit all offers to the short sale lender.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
It is the owner’s house. If they want to sell the house or not, then it is their decision. The only role of the lender is to approve or deny the short sale offer.
The lender is interested in getting the highest offer so they can reduce … (1 comments)

short sales: Will I Owe A Deficiency On A Antioch CA Short Sale If I Have An FHA Loan? - 05/03/12 04:30 PM
    Antioch CA – The next most common type of loan that does not usually have a deficiency is an FHA loan.
But, how do you determine whether or not you have an FHA loan?
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is the best way that I have found to do this. Look up your mortgage on the public records in your county. You can usually access the public records online.
Just Google, “County, State Public Records.” For example, if we Google “Contra County County Public Records”, then you will … (1 comments)

short sales: A Common Antioch CA Short Sales: The Most Common Types Of Loan That Do Not Require A Deficiency - 05/02/12 12:03 AM
 
Antioch CA – OK, let’s talk about the most common types of loans that do not require a deficiency on a short sale. The first common loan type is a Fannie Mae or Freddie Mac loan.
I’ll call them Fannie & Freddie in this post. Freddie & Fannie are different quasi-governmental entities that own mortgages. For our conversation, they are very similar in the way they handle short sales.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
First, you need to find out if Fannie or Freddie own your loan.
Fannie Mae … (0 comments)

short sales: Worried About Owing Money After A Antioch CA Short Sale? - 04/30/12 03:08 PM
   
Antioch CA – We recently received an email from Joy. She was thinking about a short sale, but was worried about a deficiency.
Here is a sentence from her email: “We obviously want to get the price as close to fair market value as possible to eliminate or reduce any deficiency the bank may assess, but also want the house to move as quickly as possible.”
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is the good news for Joy. In about 80-90% of all cases the homeowner is allowed … (0 comments)

short sales: Antioch CA Loan Modification Tips: How To Gain A Negotiating Edge Over Your Lender - 04/27/12 03:37 PM
   
Antioch CA – Thinking about a loan modification. If you can afford to, then order an appraisal. Or, do your own appraisal.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Ask your realtor “Hey, what are houses in my area selling for?” I’ve seen people who bought a house for $500,000. Guess what’s it selling for today? $300,000.
If your house has had a 40% drop in value, then you shouldn’t be paying a mortgage payment based on a value of $500,000. You should be paying a mortgage payment based on … (0 comments)