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

Seller Info Category

A Common El Dorado Hills Short Sales: The Most Common Types Of Loan That Do Not Require A Deficiency

said May 2nd, 2012 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

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?

said April 30th, 2012 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

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...

Yes, I Do Think A Folsom-El Dorado Hills Loan Modification Is The right Thing To Do

said April 26th, 2012 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom-El Dorado Hills CA – I received a note the other day from Andrew. He was upset that I would tell people that are upside down on their house to ask for a principal reduction from their lender. Here was his email. "I saw your blog post about how the banks won't approve principal reductions for people who are struggling financially. You recommended that anyone upside down should short sale their house because that is the only way to get the amount...

Another Example Of Just How Lousy A Folsom-El Dorado Hills Loan Modification Is For You

said April 25th, 2012 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

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...

Thinking About A El Dorado Hills Loan Modification? Run The Numbers First

said April 24th, 2012 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – When you negotiate your loan mod you need to remember that the banks are professional negotiators. They know the tricks. They know how to suck as much money out of you as is legally possible. Don’t kid yourself. They’re going to use every single tool in their tool chest to squeeze you. So before you start negotiations with the bank, you’ve got to be prepared. You can’t just walk into a gunfight with a knife. You’ve got...

Why Folsom- El Dorado Hills Loan Modifications Are Bad: Family Rents Bigger House For $550 Less Than Old Home

said April 23rd, 2012 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom-El Dorado Hills CA – It's sad that the banks aren't willing to give anyone a principal reduction. The banks reasoning is that if they start granting principal reductions, then every single upside down homeowner will want one. As a result people are stuck overpaying for their upside down homes. Take an example of a family who bought their home at the peak of the market. Their monthly payment was $1,400. Their lender agreed to forgive their missed back payments. But, they...

A Few More Tips On Buying El Dorado Hills Rental Property

said April 17th, 2012 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – The return on investment is very good because of a tight rental market caused by the housing crisis. Rents have increased while home prices have dropped. Single Family Homes are the best way to go because they are easy to rent and you can prescreen for the absolute best tenants. Good tenants are the key to avoiding problems. Have you ever noticed how apartment complexes have to work hard to rent their apartments? Meanwhile, most single family...

How To Get Your Finances Back On Track After A El Dorado Hills Short Sale. Buy Rental Property

said April 13th, 2012 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

El Dorado Hills CA – Buying a rental property can be an excellent long term investment. Some of the wealthiest people I know made their millions from rental properties. They started with a house and gradually moved up to apartment complexes. But, does it make sense for everyone? Most definitely not. Rental properties are not for the faint of heart. But, if you have ever considered rental properties now is a great time to get started. The market is close to the bottom,...

Folsom Ca Months Of Inventory

said April 12th, 2012 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

What is my house value in Folsom Ca? Folsom Ca Months Of Inventory Inventory is down to 1.1 months of inventory in Folsom. Normal is about 3.5 months of inventory. This is simple supply and demand. What this means for sellers: 1-You will have multiple offers 2-If you are going to buy a home you should start looking for a home before you sell. 3-Dont just take the highest offer..look at all offers and chose the offer that will close the transaction. Don't be...

It Isn’t Likely Your Lender Will Collect Any More Money From You After A Folsom-El Dorado Hills Short Sale

said April 11th, 2012 Leave A Comment John Hayes

John Hayes Folsom, CA Real Estate

Folsom-El Dorado Hills CA – Many homeowners considering a short sale are concerned about a deficiency. "Will I be forced to repay my bank for the $150,000 they lost", they ask me. The good news is that most homeowners are able to walk away from their home without paying their lender another dime. A big part of this is because their lender agrees to that as part of the terms of the short sale. In addition, many states, such as California, require...