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Mather Short Sales: Bank of America Still Has Huge Problems
Mather CA – In 2010, an agent I know talked to the person at Bank of America in charge of the Loss Mitigation Department. He was the top manager in the department that handles short sales, loan modifications, and foreclosures. He contacted this agent because agents were banding together to educate the public on the mistakes he thought that Bank of America was making. Today, almost 2 years later, Bank of America is starting to make a few, small changes to the...Read More
Folsom-El Dorado Hills Short Sales: Why The Lack of Accountability Has Hurt The Housing Market & US Economy
Folsom-El Dorado Hills CA – The National Consumer Law Center wrote a White Paper on how banks handle loan modifications, short sales and foreclosures. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. They titles their White Paper "Why Servicers Foreclose When They Should Modify and Other Puzzles of Servicer Behavior." Check out the White Paper at this link: http://www.nclc.org/images/pdf/pr-reports/report-servicers-modify.pdf. The "servicer" they are referring to is a bank that is handling a mortgage for another entity. As...Read More
4001 Wimbledon Dr, Diamond Springs, CA 95619
GREAT FIND IN DIAMOND SPRINGS 1338 SQFT 3-4 BEDS 2 1/2 BATHS..LARGE LOT..HARD WOOD/TILE FLOORS VERY CLEAN HOME...CLOSE TO SHOPPING.. GREAT HOME FOR FIRST TIME HOME BUYER OR INVESTOR. Beds: 3-4* Baths: 3 (2 1) (FH) Sq Ft: 1338* Lot Sz: 0.097ac* Yr: 2004* Listing #12010003 $150,000 (LP) Click Here To View More Pictures Thanks for reading this, John J Hayes. John J is a Real Estate Agent at RE/MAX Gold. Phone: 530-306-3316. 3hayes@s[email protected] "Hard Work and Dedication" View My homes for sale at www.johnhayesrealestate.com/home-search. John Hayes specializes...Read More
Folsom-El Dorado Hills Short Sales: What To Look For In A Buyer’s Offer
Folsom-El Dorado Hills CA – Short sales often get multiple offers from different buyers. Which offer should you accept over the others? Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Most people would assume that you would automatically pick the offer with the highest price. However, this isn't always a good idea. The offer with the highest price may have the shakiest financing. Most short sale lender issue a deadline when they approve a short sale....Read More
Folsom-El Dorado Hills Short Sales: Is Renting or Buying Back a Short Sale Mortgage Fraud?
Folsom-El Dorado Hills CA – In many cases, short selling your home and then renting or buying it back is considered mortgage fraud. Because loan modifications are so difficult many homeowners are considering selling their home and then renting it from the new owner. Many homeowners look at this as the best way to get their loan balance reduced. "I owe 400k, my house is worth 200k, and the bank won't reduce the amount I owe on a loan modification. I'll just...Read More
Folsom-El Dorado Hills Short Sale Question: Can I short sell my house and rent from the new owner?
Folsom-El Dorado Hills CA – The Stop Foreclosure Institute recently received a question from Roberta. Here was her question. "A company has talked to me about short selling my home to them and they will then rent it back to me. They will allow me to buy it from them after my credit is repaired a few years down the road. This sounds too good to be true. Am I going to get in trouble with my lender if I do this?...Read More
El Dorado Hills-Folsom Short Sales: Why Would a Bank Issue an Extension on a Short Sale Approval Letter?
El Dorado Hills-Folsom CA – The most likely reason why a bank would accept to issue an extension on a short sale is because the bank prefers to do the short sale over the foreclosure. This is a reason why your agent needs to continue to tell them on why the short sale will be beneficial during the entire process. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. The biggest reason a short sale is beneficial...Read More
El Dorado Hills-Folsom Short Sales: Will Banks Issue an Extension on a Short Sale Approval Letter?
El Dorado Hills-Folsom CA – Under normal circumstances, banks are not required to extend the closing of a short sale. The last thing a buyer would want to hear is that their mortgage lender can't perform especially after waiting for a number of months to buy a home. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. For the non-short sale transaction the buyer's lender has complete control of the entire transaction and decides on the...Read More
El Dorado Hills Short Sales: How To Do a Bank of America Cooperative Short Sale
El Dorado Hills 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...Read More
El Dorado Hills-Folsom Short Sales: Drawbacks To Bank Of America’s New Short Sale Program
El Dorado Hills-Folsom 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: 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...Read More
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Short Sale FAQ
- Buying a Folsom-El Dorado Hill Short Sale Home FQ&A
- Foreclosure Vs Short Sale
- Short Sale Myths/Update
- Short Sales We Have Sold
- What is a Folsom Short Sale
