Hayes Realty Group

John J Hayes Always stay on "PAR" with your real estate needs Serving Sacramento, Folsom, El Dorado Hills, El Dorado County      Thursday November 23rd, 2017

Contact John 530-306-3316

Buyer Info Category

What Is A BPO And Why Does It Matter On A Folsom Short Sale?

said January 26th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – Some agents hate short sales. Why? Because they don't understand them. So, don't believe them when they tell you that short sales are impossible. I will explain what causes their problems in today's post. There are two things you must understand if you are doing short sales. They are BPOs and HUD-1s. A BPO is what the short sale lender uses to determine the value of the property. BPO stands for "Broker's Price Opinion." They are what another real estate...

What Is A HUD-1 And Why Does It Matter On A Folsom Short Sale?

said January 26th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – Here is something that drives inexperienced short sale agents crazy. It is a HUD-1, also called a HUD. HUD is the Federal Agency, the Department of Housing & Urban Development, also called HUD. A HUD-1 is a document regulated by HUD. It is the financial accounting for a real estate sale. Here is why it is important to a short sale. Before a short sale lender will accept a short sale, they want to know what they will...

Folsom Short Sales: What You Should Look For In A Potential Buyer Of Your House

said January 23rd, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – Short Sales can be tough. Many buyers don't understand the process and think that since it is a buyer's market, then they set the rules. That's not the case. You, the seller sets the rules. After all, you still own the property. But, more importantly, you must set the rules for offers. If you don't, then you dramatically reduce your odds of successfully short selling your property. Here is what you should think about before you take your home...

What Is A Reasonable Offer From A Buyer Of A Folsom Short Sale Property?

said January 23rd, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – Some buyers think that since it is a buyer's market, then they can make any crazy demand of a seller. And they can't understand when the seller isn't excited by their low ball offer. Here is an example of a recent story where this happened. A buyer makes an offer on a short sale. 1. The buyer puts no money in deposit for the home. In other words, they have about zero risk. (Meanwhile, the seller is still risking...

Folsom Short Sales: Could The Realtor You Hire Kill Your Chance At A Successful Short Sale?

said January 23rd, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – The biggest reason people short sale their house is to avoid foreclosure. They cannot afford the house anymore and the bank has said they will foreclose soon. If the short sale is not successful, then their lender will foreclose on the house. We at the Stop Foreclosure Institute have successfully closed short sales for several years. We’ve made it our business to know what we are doing. But, we see many agents that have no clue about short sales...

What Is A Reasonable Offer From A Buyer Of A El Dorado Hills Short Sale Property

said January 17th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – Some buyers think that since it is a buyer's market, then they can make any crazy demand of a seller. And they can't understand when the seller isn't excited by their low ball offer. Here is an example of a recent story where this happened. A buyer makes an offer on a short sale. 1. The buyer puts no money in deposit for the home. In other words, they have about zero risk. (Meanwhile, the seller is...

Folsom Short Sales: Why Do Lenders Pretend To Care About Their Customers?

said January 15th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – Have you ever attempted to get a loan modification? If you have, then you probably get bugged when you hear banks talk about how they supposedly care about their customers. Somehow these banks think we will believe it. They must think that, or they wouldn't be running ads that say: "Come to ABC Bank. We answer you by your first name. You're not a number. We care about you." What a bunch of garbage. Anyone who has attempted to...

El Dorado Hills Short Sales: Why Do Lenders Pretend To Care About Their Customers?

said January 15th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – Have you ever attempted to get a loan modification? If you have, then you probably get bugged when you hear banks talk about how they supposedly care about their customers. Somehow these banks think we will believe it. They must think that, or they wouldn't be running ads that say: "Come to ABC Bank. We answer you by your first name. You're not a number. We care about you." What a bunch of garbage. Anyone who has...

El Dorado Hills-Folsom Short Sales: I Have Mortgage Insurance. Won’t That Cover The Deficiency?

said January 9th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom 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." 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...

Seven Ways You Benefit From A Folsom Short Sale

said January 9th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – A home owner thinking of a short sale recently asked us why they should short sale versus just walking away and letting their lender foreclose on the home. We gave them the normal answer: “It’s much better for your credit.” That was the first thing that popped into our head. But, I knew there are more benefits to a home owner than simply better credit. So I put together the entire list and here they are. 1. The upside...