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 May 29th, 2017

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How Long Does It Take For My Credit To Recover After A El Dorado Hills Short Sale?

said August 14th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills [state(acronym)] – The Stop Foreclosure Institute recently received a question from Sammy. Here was his question. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. "I like your blog post about how to get out of paying a deficiency. However, how long will it be on your credit report before your life goes back to normal? I would like to resolve the deficiency but the attorney/collector doesn't seem willing to budge from the...

Why Do Some El Dorado Hills Short Sales Fail While Others Succeed?

said August 5th, 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 James. Here was his question. "I’ve heard that there is a 70% failure rate on short sales. Is that true? If so, then why do so many short sales fail? James” Here is the answer to his question. Yes, a lot of short sales do fail. However, those statistics are for individual short sale offers submitted to lenders. If the first offer on a short sale is turned...

Why Didn’t My Offer To Buy A El Dorado Hills Short Sale Get Accepted While Another Buyers Offer Was Accepted?

said July 26th, 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 Jonathan. Here was his question. “I am looking to buy a short sale. The seller wouldn’t accept my offer. My agent told me it was because the short sale lender has told them they wouldn’t accept the offer. I am a cash buyer and can’t understand why they wouldn’t take my offer. Why do some buyer’s offers get accepted while others are declined? Jonathan.” Here is the answer to...

How Does A El Dorado Hills Short Sale Save My Bank Money?

said July 24th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – We throw around the statistic that a short sale reduces a lender's losses by 20% compared to a foreclosure. However, I am sure that there are many people who find that hard to believe. So today I am going to give you a breakdown of exactly why it happens. I will use an real life example. A short sale was listed for sale for $425,000. After a few months, the sellers received an offer for $385,000. They submitted...

A Common Myth About El Dorado Hills Short Sales: Selling My House As A Short Sale Is An Embarrassment

said July 19th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – You might think it is an embarrassment to sell your home as a short sale. "My friends will laugh at me when they realize that I owe more on my house than it is worth", some people think. The reality is that many Americans are in your same position. In fact, some experts think that over a quarter of all homeowners are upside down. Click here to discover how other sellers successfully did a short sale and...

El Dorado Hills Short Sale Question: What Do Lenders Consider A Legitimate Hardship For A Short Sale?

said June 27th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – We had a question about FHA short sales yesterday. We did some research on FHA short sales as a result. We stumbled upon something interesting. We have a list of all of the things that FHA considers legitimate hardships for a short sale. Click here to view the actual list from FHA. The good news is that if FHA considers something a hardship, then it is likely that most lenders agree. Here is the list of things...

Despite What You Think, A El Dorado Hills Short Sale May Actually Help Your Credit

said June 21st, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – The Stop Foreclosure Institute recently received an e-mail from a recent short sale seller. We had helped him short sale his house. Here is his e-mail. “Hi, I hope all is well. I am getting back to you on my credit scores. My score went from 663 in Feb. to 770 in June. I know this is counter intuitive but must be because my outstanding debts were reduced. I am happy with this. Julio. “ I agree with...

Step 6 To Fix Your Credit After A Folsom Short Sale: Why It’s So Important To Document Everything

said June 14th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – I mentioned in the last note that you’ll need to keep a file of records about your credit restoration process. This is an important part of the process, and deserves a bit more than a brief mention. The credit reporting companies have 30 days (by law), to investigate and handle the disputes submitted to them. This is why you submitted everything through certified mail. That enables you to record the time firmly for the credit reporting firms to respond...

Step 5 To Fix Your Credit After A Folsom Short Sale: How To Mail The Letter

said June 14th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – Once your strongly worded credit report dispute letters are written to each of the three credit reporting companies, then it is time to get it into the hands of their dispute department. The goal is to get your letter read, taken seriously, and responded to. **Make sure you make a copy of whatever you are sending to the credit bureaus.** Just keep all your credit reports, letters, etc. in a file so you can use these later (this will...

Step 3 To Fix Your Credit After A Folsom Short Sale: Rank Items In Order Of Importance

said June 12th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – The next step in going over your credit reports is to really rank the items being reported about you to find ones that are the most negative. Rank the negative items with the MOST negative ones given the lowest ranking. You want to rank the ones that will cause the most damage to your credit score. Here are the most damaging items (in order of damage amount): bankruptcy; foreclosure; repossession; loan default; court judgment; accounts in collections; payments that...