Hayes Realty Group

John J Hayes Always stay on "PAR" with your real estate needs Serving Sacramento, Folsom, El Dorado Hills, El Dorado County      Tuesday December 12th, 2017

Contact John 530-306-3316

Market Trends/Values Category

El Dorado Hills 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...

olsom-El Dorado Hills CA – If the right decision for you and your family is to sell the house as a short sale, then the sale will have an immediate effect on your credit score. You might feel like it’s just overwhelming and demoralizing to see your credit score take any more hits! But, here’s the silver lining: according to most experts, 78% of Americans have ERRORS on their credit score. Why is that a silver lining? If you have negative errors...

El Dorado Hills Short Sales: Four Specific Examples of Big Bank Negligence

said December 20th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – Here are four 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...

Foldom-El Dorado Hills CA – If the right decision for you and your family is to sell the house as a short sale, then the sale will have an immediate effect on your credit score. You might feel like it’s just overwhelming and demoralizing to see your credit score take any more hits! But, here’s the silver lining: according to most experts, 78% of Americans have ERRORS on their credit score. Why is that a silver lining? If you have negative errors...

Folsom-El Dorado Hills CA – The Stop Foreclosure Institute recently received a question from Christina. Here is her question. "I just read your article Frequently Asked Questions about Short Sales. You mention that you can obtain another home loan two years after a short sale. Who are these lenders and how can I contact them? I have been looking but so far no luck. Everyone is insisting we must wait three years. I'd appreciate any information you can provide. Christina." We...

A Common El Dorado Hills Short Sale Myth: Banks Can’t Write Off Too Much Loss At Once

said December 15th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – We at the Stop Foreclosure Institute receive emails all the time that go something like this "The Bank’s Short Sale Problems are not that simple. A bank can't afford to write off too much loss at once. Also, their investors may not approve the short sale, because they can't afford to write off too much loss at once either. And the circle goes on. Thank you, Amy Here is why this flawed assumption is...

El Dorado Hills Short Sales: My home is in foreclosure. How soon will the bank kick me out?

said December 15th, 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 realtor named Sandy. Here is her question. “An agent in my office currently has a listing under contract. It is a short sale, the sad thing is that Large National Bank (to remain unnamed) notified the sellers that they had foreclosed a month ago. Fact is, they had not foreclosed. The employee didn’t know what they were talking about. Valuable time and a buyer were lost...

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...