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 September 22nd, 2017

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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...

Step 5 To Fix Your Credit After A El Dorado Hills Short Sale: How To Mail The Letter

said June 7th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills 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. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. **Make sure you make a copy of whatever you are sending to the credit bureaus.** Just keep all...

Step 4 To Fix Your Credit After A El Dorado Hills Short Sale: Write The Credit Bureaus

said June 6th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – Using your work on the credit report, you are ready to take action. You are now going to write a letter to the credit bureaus about the items you’ve highlighted and noted. You are writing to the credit bureaus because they are the ones reporting the information – it is up to them to change what they report. The goal is to get bad things deleted from your credit report in order to improve your score. Do not...

Folsom Short Sale Question: How Can I Buy Another Home Right After A Short Sale?

said May 30th, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – The biggest advantage a short sale has over a foreclosure is that you can buy your next home much sooner. Under current lending guidelines, you can buy another home in 3 years after a short sale. After a foreclosure you have to wait 5-7 years in most cases. (FHA’s current guidelines state that you can get an FHA loan immediately after a short sale, provided that you never missed a payment. If you were in default at the time...

El Dorado Hills CA – One of the common reasons that people are concerned about a foreclosure or short sale in their history is because they are concerned about their credit score. While it’s true that your credit score will be adversely affected by these items, it is also true that you can move past blemishes on a credit report. You may want to consider doing some credit repair or credit restoration. It isn’t hard to do, and when taken step by...

El Dorado Hills Short Sale Question: My Ex Is Short Selling. What Can I Do To Avoid It Damaging My Credit?

said May 27th, 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 Tom about short sales. Here was Tom’s Question. “My Ex-wife decided to Short Sell our former house. Unfortunately we both signed the mortgage when we bought the house together. I think that means I am still liable for the debt. The court gave her the home in the divorce. The market has declined and the house is worth about 120k less than the mortgage amount. I have a good...

Is My Hardship Legitimate For A El Dorado Hills Short Sale?

said May 27th, 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 Dan. Here was Dan’s Question. "I recently purchased another home and tried to sell my former home. It isn’t selling and I can’t afford to make both payments. The home won’t rent for even 1/2 of the mortgage payment. An agent told me the house is worth about $50K under the mortgage amount. Is it realistic for me to try the short sale? The only hardship created...

Is My Hardship Legitimate For A Folsom Short Sale?

said May 23rd, 2013 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom CA – The Stop Foreclosure Institute recently received a question from Dan. Here was Dan’s Question. "I recently purchased another home and tried to sell my former home. It isn’t selling and I can’t afford to make both payments. The home won’t rent for even 1/2 of the mortgage payment. An agent told me the house is worth about $50K under the mortgage amount. Is it realistic for me to try the short sale? The only hardship created was when...