short sale: Tips for Home Sellers: Choosing an Agent
- 01/28/11 03:43 AM
So now that I’ve spent some time giving tips for consumers looking to buy a home, I will devote my next few post to providing advice for sellers. Even though the market is dominated by foreclosures and short sales, which are significantly discounted compared to a traditional sale, it still could be the right time to sell. There are a lot of buyers out there, with great credit, looking for a new home. Many buyers don’t want to have to deal with the headache or drama associated with foreclosures and short sales so they prefer to buy a non-distressed home, even … (1 comments)
short sale: Short Sale Information 4 of 4
- 11/18/10 03:30 AM
Here is the final part in my short sale advise blog. It covers the application process for short sales and some other issues.
V. Short Sale Application Process and Other Issues
Q 20. What is the process for applying for a short sale? A It is always in the best interest of the borrower to keep the lender informed. If the borrower is in default of the loan and is contemplating a short sale, it would be best for the borrower to let the lender know before the foreclosure proceedings are well under way. The lender may or may not grant … (1 comments)
short sale: Short Sale Information 3 of 4
- 11/11/10 03:47 AM
Here is part 3 of 4 of my short sale information blog. It is about the licensing requirements and questions 12-15. Enjoy.
III. Licensing Requirements for Short Sales
Q 12. What is a short sale consultant? A A short sale consultant is someone who advises on short sales. Depending on the agreement between the parties involved, the typical short sale consultant assists a homeowner or listing agent to prepare a short sale application package, submit it to the homeowner’s lender, and negotiate with the lender on the homeowner’s behalf to approve the short sale.
Q 13. Does a short sale consultant have to be … (0 comments)
short sale: Short Sale Information
- 11/03/10 06:40 AM
Here is the second part of last week’s blog. It covers the effects of short sales on the borrowers. Questions 7 – 11.
II. Effect On Borrowers of Short Sales Q 7. Does a short sale adversely affect a defaulting borrower's credit rating? A Yes. Lenders will report the short sale as being settled for less than the full balance. This would show up on the borrower's credit report as a negative mark for seven years. (Cal. Civ. Code § 1785.13.)
Q 8. Suppose the borrower is late with his/her mortgage payments, causing the lender to … (0 comments)
short sale: Short Sale Information
- 10/28/10 06:58 AM
Hi everyone,Today, I'm going to give the first part of a 5 part series on Short Sales. The first part will be the introduction and what the lenders options are when a buyer defaults. Here we go. Introduction Increasingly, lenders are making loans in amounts that become too difficult for borrowers to repay. Some of these borrowers may not be able to fulfill their mortgage obligations. When a borrower is no longer in a position to make the mortgage payments, is facing foreclosure and the current market value of the property--including escrow costs--is less than the loan on the property, the borrower … (0 comments)
So now that I’ve spent some time giving tips for consumers looking to buy a home, I will devote my next few post to providing advice for sellers. Even though the market is dominated by foreclosures and short sales, which are significantly discounted compared to a traditional sale, it still could be the right time to sell. There are a lot of buyers out there, with great credit, looking for a new home. Many buyers don’t want to have to deal with the headache or drama associated with foreclosures and short sales so they prefer to buy a non-distressed home, even … (1 comments)
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