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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...
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...
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...
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...
Folsom Realtor
Click Here To For Client Reviews We chose John after seeing him selling many homes in our neighborhood, there was a comfort zone to his personality, and how he presented himself in a professional manner. It is my pleasure to recommend Mr. Hayes as a real estate agent who helped us to get our home sold.. I recommend him for his expertise, experience and integrity. Having engaged him as my agent there was no regrets. I am pleased with the...
Will I Owe A Deficiency On A El Dorado Hills Short Sale If I Have A USDA Loan?
El Dorado Hills CA – Another common type of loan that does not usually have a deficiency is a USDA loan. The USDA loan program was created to make it easier for people that lived in rural areas to buy their own home. USDA stipulates that you must be at least 30 days behind on your payments before they will start the short sale process. This is different from most other loan programs. I haven't heard of another loan program where they...
RE/MAX Highest in Customer Satisfaction J.D. Power: John Hayes
In the 2011 J.D. Power and Associates Home Buyer/Seller Study released today, buyers and sellers award RE/MAX the highest rankings in customer satisfaction. It’s clear: RE/MAX Associates are the ones consumers trust most to guide them through one of the most challenging real estate markets ever seen in the U.S. View the buyer survey results View the seller survey results "I want to personally thank and congratulate every one of you for contributing to this prestigious recognition," says RE/MAX Chairman and Co-Founder Dave Liniger....
A Common El Dorado Hills Short Sales: The Most Common Types Of Loan That Do Not Require A Deficiency
El Dorado Hills CA – OK, let’s talk about the most common types of loans that do not require a deficiency on a short sale. The first common loan type is a Fannie Mae or Freddie Mac loan. I’ll call them Fannie & Freddie in this post. Freddie & Fannie are different quasi-governmental entities that own mortgages. For our conversation, they are very similar in the way they handle short sales. First, you need to find out if Fannie or Freddie own...
Worried About Owing Money After A El Dorado Hills Short Sale?
El Dorado Hills CA – We recently received an email from Joy. She was thinking about a short sale, but was worried about a deficiency. Here is a sentence from her email: "We obviously want to get the price as close to fair market value as possible to eliminate or reduce any deficiency the bank may assess, but also want the house to move as quickly as possible." Here is the good news for Joy. In about 80-90% of all cases the...
Another Example Of Just How Lousy A Folsom-El Dorado Hills Loan Modification Is For You
El Dorado Hills CA – Are you pulling your hair out trying to convince your lender to reduce the amount you owe on your home? People have a hard time grasping how difficult it is to get a loan modification that is fair. These banks just do everything they can to squeeze homeowners for as much money as possible. Here is an example of a homeowner that accepted a forbearance agreement with their lender. The homeowner was desperate to keep his home...
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2340 E. Bidwell St
Folsom, CA 95630
Office: 916-984-8778
Direct: 530-306-3316
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