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El Dorado Hills Short Sale Help: Having Financial Problems? Tell Debt Collectors To “Get Lost”
El Dorado Hills CA – Most of the short sale sellers that we help are selling this home because of financial problems. They can't afford the payments and sell their home to avoid foreclosure. Because of this I am very familiar with helping my customers who have financial problems. Many of them are struggling to buy groceries, keep the power turned on, and pay for gas to get to work. They are struggling to pay for the necessities just to survive and...Read More
Here’s Proof That Your Bank Actually Wants You To Short Sale Your El Dorado Hills Home
El Dorado Hills CA – A recent article in the Tampa Bay Times shows how much lenders prefer short sales to a foreclosure. It discussed how Bank of America recently came out with new short sale incentives. Bank of America is willing to pay borrowers up to $30,000 for moving expenses to short sale their house. I doubt that many homeowners will receive $30,000. Most will receive the lower amount of $2,500. But that is still better than repaying your lender thousands...Read More
Will My Lender Sue Me After A El Dorado Hills Short Sale?
El Dorado Hills CA – Many people are concerned about a potential lawsuit after a short sale. Many people ask us, "My lender just lost $150,000. Aren't thing going to be angry that they are losing that much money? Won't they sue me?" The good news is that very few people will get sued. The vast majority of all short sale sellers will be released from the debt as a condition of the short sale. We have reviewed hundreds of short sale approval...Read More
Folsom Ca-Bank of America expands short sale incentive to $30,000
Folsom Ca- Looks like BofA is following suit to Chase and Wells. BofA is offering up to $30,000 for the seller to participate in a short sale. This is good news for home owners that have been denied a loan modification. The bad thing about this is you will not know if you qualify until you start the short sale and then you will be hand picked for this program. You can still get 2,500 for a cooperative short...Read More
Will I Have My Wages Garnished After A El Dorado Hills Short Sale?
El Dorado Hills CA – Many people are concerned about a deficiency after a short sale. They are afraid that their bank may garnish all of their wages. It's scary to think that at any moment your bank could grab every dime you make and leave you broke. Most people short sell their house because of financial problems. They can't afford to lose a month's worth of salary. But, here is the good news. There is a maximum amount that anyone can...Read More
Buying A El Dorado Hills Short Sales? Make Sure You Have This Person Helping You
El Dorado Hills CA – Thinking of buying a Gainesville Short Sale? The short sale process is difficult to navigate. The first thing you should do it make sure that the agent who has the house for sale knows what they are doing. That person, also known as the "listing agent", is responsible for negotiations with the short sale lender. They may negotiate the short sale themselves or have a third party do it. Either way they will be in control of...Read More
El Dorado Hills Short Sale Myth: The Mortgage Forgiveness Law Means That Everyone Gets To Short Sale With No Deficiency
El Dorado Hills CA – I recently heard another so-called short sale expert say that the Federal Mortgage Forgiveness Debt Relief Act made it so that everyone gets to short sale with no deficiency The unfortunate news is that this is not true. In some state, state law forbids the lenders from attempting to collect from the homeowner after a foreclosure or short sale. But, those states are the exception, not the rule. Here is what the Federal Mortgage Forgiveness Debt Relief...Read More
El Dorado Hills Short Sales: Why Do Bank Negotiators Break The Rules?
El Dorado Hills CA – We had a negotiator at Bank of America try to push us around a little while ago. We’ve studied and analyzed all of the short sale guidelines and rules. This was an FHA loan and therefore would be governed by FHA’s Short Sale Guidelines. This means that the lender must follow FHA’s Specific Instructions on how to handle the short sale. Here's what happened. FHA sends all of the lenders who handle their loans a letter called...Read More
Don’t Accept A Promissory Note When You Short Sale Your El Dorado Hills Home
El Dorado Hills CA – Many lenders ask for a promissory note on short sales. This is especially true if the lender has Private Mortgage Insurance (also called PMI) that has to approve the short sale. The PMI companies know that homeowners will do anything to protect their credit when they are short selling their home. To avoid a promissory note you must convince the negotiator at the PMI Company that you have not assets and no disposable income that can be...Read More
El Dorado Hills Short Sale Deficiencies On “Sliced & Diced Loans?
El Dorado Hills CA – Another common type of loan that does not usually have a deficiency is a “Sliced and Diced” loan. A “Sliced and Diced” loan is a loan that has been securitized along with a bundle of other loans. Here is how that happened. John gets a loan from ABC Bank. ABC Bank is running out of money to lend out. So, they sell 1,000 of their mortgages to Goldman Sachs. Goldman then securitizes that bundle of 1,000 mortgages...Read More
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2340 E. Bidwell St
Folsom, CA 95630
Office: 916-984-8778
Direct: 530-306-3316
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CA DRE#01709600
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