Hayes Realty Group

John J Hayes Always stay on "PAR" with your real estate needs Serving Sacramento, Folsom, El Dorado Hills, El Dorado County      Monday June 26th, 2017

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El Dorado Hills Category

Thinking About A Strategic Default in Folsom- El Dorado Hills? FICO May Be Tracking You!

said December 15th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – Banks must hate Strategic Defaults. A person who walks away from hundreds of thousands of dollars in debt gets on their nerves. It must bug them so bad that Fair Isaac, the founder of the FICO score, came out with a program that tracks strategic defaults. Here is the story according to Inman News: "Article Title: FICO to walkaways: You're on our screen Fair Isaac, developer of the ubiquitous FICO score, has a new warning for homeowners plotting...

El Dorado Hills CA – The Stop Foreclosure Institute recently received a question from Steve. Here is his question. “We are doing a short sale with one of the largest nationwide banks. I told them I wouldn’t do the short sale unless they specifically changed their short sale approval letter to completely release me from the deficiency. The short sale negotiate told me that Fannie Mae would not allow them to release the deficiency. I read somewhere that Fannie Mae doesn’t pursue...

El Dorado Hills CA – The Stop Foreclosure Institute recently received a question from James. Here is his question. “Do you have any suggestions on a surprise lien from a Water Softener company? We were able to get Bank of America to approve the short sale without paying the lien. It could take another 60 days for Bank of America to agree to pay the lien. The buyers don’t want to wait that long. Is there anything we can do? James.” Here is...

El Dorado Hills CA – The Stop Foreclosure Institute recently received a question from James. Here is his question. “Do you have any suggestions on a surprise lien from a Water Softener company? We were able to get Bank of America to approve the short sale without paying the lien. It could take another 60 days for Bank of America to agree to pay the lien. The buyers don’t want to wait that long. Is there anything we can do? James.” Here is...

Folsom-El Dorado Hills Short Sales: Do Short Sales Really Take 6-8 Months?

said November 28th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – The Stop Foreclosure Institute recently received a question from John. Here is John’s Question. “I am trying to buy a short sale. I have been waiting on an answer to my offer for 6 months. The agent tells me we should have an answer any day. But, they’ve been saying that for a long time already. What should I do? John.” John, I think you should run for the hills. We see a lot of agents quote 6-8...

Why Folsom-El Dorado Hills Short Sales Sell For A Higher Price Than A El Dorado Hills Foreclosure

said November 15th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – People often wonder why their lender will release their debt in a short sale. Most lenders don't like to release the debt. But, they agree to do it because they know that policy nets them more money. They net more because a home usually sells for more money as a short sale versus after it has been foreclosed upon. Let's go thru a few examples. [caption id="attachment_1560" align="alignright" width="300" caption="Most Short Sales Are Well Kept Up And...

Folsom-El Dorado Hills Short Sales: This Short Sale Negotiator Isn’t Doing His Job

said November 15th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom-El Dorado Hills CA – Here is a question that the Stop Foreclosure Institute recently received. "I am in the middle of a very long negotiation with Chase. The seller had me to put a clause into the contract stating “upon approval of short sale by sellers’ lender, lenders, & or affiliates, client, or heirs will be released from any monetary shortages or deficiencies from said sale of stated property upon successful closing and transfer of title from that date...

El Dorado Hills CA – Are you looking to buy a short sale? Before you make an offer, you need to check and see how competent the listing agent is at short sales. The listing agent is the agent with the property for sale. They will usually be in charge of processing the short sale with the lender. If the listing agent is a genuine short sale expert and knows what they are doing, then you have a very good chance...

How Long Do I Have To Wait After A El Dorado Hills Short Sale To Buy Another Home?

said November 7th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – The Stop Foreclosure Institute gets asked this question quite a bit. The answer depends on the type of loan you are looking to use to purchase your next home. Here are the details on your options to buy another home after a short sale. Owner Financing. You can buy a home with owner financing anytime after a short sale. FHA Financing. (FHA is very popular because it only requires you to put down 3.5% and pay your...

El Dorado Hills Short Sales: Bank won’t allow my seller to avoid short sale process

said November 7th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – The Stop Foreclosure Institute recently received a question from another agent. Apparently they were being mislead on a short sale by a large national lender. Here is the question we received: “Do you have a number to contact Fannie Mae? The bank (Large National Bank) will not allow the seller to not do a short sale and agree to repay the loss on a promissory note. She said that she has to talk to the investor...