Hayes Realty Group

John J Hayes Always stay on "PAR" with your real estate needs Serving Sacramento, Folsom, El Dorado Hills, El Dorado County      Friday July 21st, 2017

Contact John 530-306-3316

Buyer Info Category

Folsom Loan Mod Question: How Do I Get A Loan Mod On An FHA Loan?

said February 21st, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – The Stop Foreclosure recently received a question from Grant. Here was his question. "I have an FHA loan and want to get a loan modification. My bank is playing hardball and won't modify the loan at all. My friend got a loan modification and said it was pretty easy. What can I do to modify my loan?" Grant. Here is the answer. I don't know the specific rules for FHA Loan Modifications. But, I do know how to find them....

How Does A El Dorado Hills Short Sale Or Loan Modification Affect My Credit Score?

said February 19th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – How do foreclosures, loan modifications or short sales affect a credit score? Your credit score will be affected by late mortgage payments and a short sale. However, there are 2 things that are considered horrible on your credit report. Those 2 are items are foreclosure and bankruptcy. A foreclosure or bankruptcy will almost immediately lower a credit score by around 100 to 120 points. (The number is not hard and fast – it all depends upon what the...

5049 Crail Way, El Dorado Hills, CA 95762 SOLD

said February 19th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Enjoy entertaining in this exceptional one level home featuring a casita w/full bath & detached office. Unwind in master retreat & enjoy the spa inspired master bath boasting a sunken tub, spacious shower & 2 walk-in closets. Enjoy the expansive windows overlooking rear yard & french doors to access the patio. Gourmet kitchen overlooks fam rm w/frplc & doors leading to the rear yard. Enjoy friends & family while cooking in this kitchen w/dual ovens, island, granite counters, & SS...

Why Do Some People Worship Perfect Credit During A Folsom Short Sale?

said February 15th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – It always amazes me how some people will do anything to have perfect credit. They would rather go hungry than risk harming their prefect credit rating. A good example is a guy I will call Seth. Seth has perfect credit. He has worked to keep perfect credit for the last 12 years. Seth has a several credit cards with high balances. He ran the balances up when the economy was strong. Today, he can barely afford to make the minimum...

Folsom Short Sales: How To Negotiate The Loan Modification You Deserve

said February 14th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – Bankruptcy is one of the scariest words a lender can hear. A bankruptcy filing can stall their ability to foreclose by 6 months, and sometimes as long as a year. The lenders know that most bankruptcies will cause them to lose the ability to pursue you for any losses. This means they can’t go after you for any upside down debt. The only thing a lender gets in a Chapter 7 Bankruptcy is any collateral they have on a...

El Dorado Hills Short Sales: How One Agent Beat The Odds For Short Sale Success

said February 14th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – Sometimes it seems like short sales are tough. “Don’t try to short sale your house. Short Sales never go thru”, people tell you. That isn’t true. Here is how one agent beat the odds. A member of the Stop Foreclosure Institute told me about a short sale he recently worked on. Here is the story from the member. “I had a short sale with a large national lender. The loan was owned by Fannie Mae, not the lender....

El Dorado Hills Short Sales: How To Negotiate A Loan Mod With A Local Lender

said February 13th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – In my opinion, loan mods are very tough to negotiate with large lenders like Bank of America, Wells Fargo, JP Morgan Chase, or SunTrust. The reason is because you are treated like a number. In addition, in most cases the lender doesn’t own your loan. Someone else does. So when they negotiate with you, it is simply to go thru the motions. No, common sense does not apply in these situations! The good news is that common...

El Dorado Hills Short Sales: A Little Know Fact The Big Banks Won’t Tell You

said February 12th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – Here is a shocking fact that most of the American Public doesn’t know. Most mortgages are not owned by banks. In addition, most of the huge losses on bad mortgages was not lost by the banks themselves. Instead, the biggest loser was Uncle Sam, thru the takeover of Fannie Mae and Freddie Mac. Most mortgages are sold after they are made. We estimate that around 75-80% of all mortgages were sold before the housing crisis. This means that...

Folsom CA – Yesterday I gave you two specific examples of big bank’s negligence causing a loan owner to lose money. Today I am giving you two more. Example #3: Not following up on foreclosures properly. I have seen countless examples of servicers hiring an attorney to foreclose on a house. The attorney files the paperwork. Then, the foreclosure case goes into purgatory. Nothing happens for 6 months, 12 months, 18 months, and even up to 2 years. I have seen this happen...

Two Specific Examples of Big Bank Negligence on Folsom Short Sales

said February 11th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – Here are two specific examples of big bank’s negligence causing a loan owner to lose money. Example #1: Not giving buyers an answer on a short sale within one week. Home buyers don’t like to wait 3-6 months for an answer on a short sale. This fact causes many buyers to shy away from short sales, thereby causing short sales to sell for less. Lenders should help the loan owners recoup as much money as possible from short sales. To...