Are you a homeowner who is facing a possible foreclosure? Have you considered making a Short Sale instead? This website provides answers to frequently asked questions by homeowners about short sales. There are several things to keep in mind to make an intelligent decision on whether to short sale your house, foreclose, or ask for [...]
It’s 2013 and many homeowners are still in the same position that they were in last year; struggling to make their mortgage payments. What’s the solution to this problem? Work harder? Loan modification? Foreclosure? All of these options are viable but, if you want to save yourself time, money and improve the quality of your [...]
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One thing that millions of Americans have in common these days is that they were forced to make the decision to short sale their home thanks to the downturn in the housing market. The great thing about a short sale is that it’s not the end of the world and your credit can be re-built [...]
After a short sale you can still be eligible to qualify for a mortgage insured by the Federal Housing Administration. Remember, how you managed your previous mortgage may determine whether you’re eligible to apply for an FHA mortgage after a short sale. Short sale helps the borrowers to prevent foreclosure activities. However, short sale can [...]
Freddie Mac, Mortgage Insurers Make Short Sales Easier To Process Starting November 1, 2013 By Freddie Mac Published: Wednesday, Oct. 31, 2012 – 8:34 am From Sac Bee MCLEAN, Va., Oct. 31, 2012 — /PRNewswire/ – Freddie Mac (OTC:FMCC) today announced the nation’s nine mortgage insurance companies have signed delegation agreements so Freddie Mac servicers can [...]
From DSNEWS.Com By: Luis Cardozo The latest results are in… California Association of Realtors states that Short Sales Reach and all time high in September 2013. number 24.3%. Real Estate Owned (Foreclosures) fell to 12.3% While distressed sales continued to languish in California, equity sales, or non-distressed sales, firmed up and reached a four-year high [...]
If you’re thinking about selling your home via short sale and are a little embarrassed about it, you shouldn’t be. Short sales are more common these days as average home owners are turning to this option for a variety of reasons including: owning more on their homes mortgage than what their home is worth, job [...]
Struggling with the thought of going through a foreclosure? You’re not alone. Thousands of people across the country are stuck in the same position right now and don’t know that there are any other options but foreclosure. Thankfully there are a wide variety of options besides foreclosure and two of the most popular ones are: [...]
How to Short Sale Your Home Even If You Can Still Afford It As the short sale has become a very popular option among home owners it’s also gained the attention of underwater home owners who can afford to make their mortgage payments but want to short sell for a variety of reasons including: owning [...]
Choosing a real estate professional who is experienced in strategic short sales is the most important part of the whole short sale process. Why? A qualified real estate professional who is experienced in short sales will help you to navigate through the sometimes frustrating and confusing short sale process plus make sure that your home [...]
How To Negotiate A Short Sale If You Have A Credit Card Judgement, Liens Or Other Liens Against Your House What’s most frustrating about the short sale process is when the homeowner finds out that there is a lien or credit card judgment against their house. This has happened to a lot of homeowners over [...]
What Is A Short Sale? Finding the right San Jose Short Sale Agent A short sale happens when a lender is willing to accept a lower pay off on a loan than what is currently owed. In a short sale, the borrower will owe more on the property than the home is worth at [...]
Why You Need A San Jose Short Sale Expert The Broker’s Price Opinion is an extremely critical aspect to a short sale because it will assist them in ensuring that both the lender and the seller will be delighted with the proceeds once the short sale has concluded. What is a BPO? A BPO is [...]
How A San Jose Short Sale Agent Can Help You For homeowners that are facing a financial hardship, any alternative to foreclosure is essentially welcome. However, selecting in San Jose the suited alternative can be challenging. A large number of factors can affect a homeowner’s decision: their short term financial circumstance, their long term income [...]
San Jose Short Sale Specialist Every homeowner in San Jose should be educated on their options to avoid a foreclosure in San Jose. Many options are available in San Jose to distressed homeowners however; short sales are becoming increasingly popular due to its abilities to assist homeowners in San Jose. Short sales offer cash back [...]
San Jose Short Sale Expert Getting fired from your job usually means getting losing your main source of income, and one of the first things to be sidelined when this occurs are mortgage payments. Paying for a house to live in might appear to be a little costly especially if you can just opt to [...]
Short sales continue to be one of the most popular choices for home owners in this day and age who are stuck with an underwater home or experiencing financial distress due to the economic recession. Even though the banks love short sales because, a short sale can take as little as 20 days to be [...]
Clearly, the Home Affordable Modification Program (HAMP) has not been working well. As of November 2009, out of 3,137,548 loan modification requests, only 31,382 loans were permanently modified. That is a measly 1% success rate. To address this problem, the Department of the Treasury issued a supplemental directive called the Home Affordable Foreclosure Alternatives (HAFA) [...]
This depends on the investor of your lender. The investor is the actual owner of your mortgage, while your lender (or servicer) has the role of collecting your monthly mortgage payments, foreclosing on the house if you are not able to pay the mortgage, and so forth. Lenders may have several (even hundreds) of investors. [...]
Can I get a Mortgage After a Short Sale? After a short sale, it’s possible to obtain a new Federal Housing Administration (FHA) mortgage in as few as 18 to 24 months, assuming all other credit has been kept clean. Get ready for FHA loans to become the best choice EVEN in high priced areas [...]
Yes. In the current HAFA program, if the lender grants you a short sale agreement, they have to give you at least 120 days to sell your property. The short sale agreement is provided by your lender when you request for a short sale approval before putting your house on the market. This can be [...]
Yes, but under certain conditions. The house can be vacant for up to 90 days prior to the Short Sale Agreement (SSA), provided that it was your principal residence and that it would be necessary for you to relocate at least 100 miles away from the property for employment reasons. You will need to provide [...]
No. Most major lenders have been accepting short sale offers from sellers who have never missed a payment. However, banks often process short sales in the order of those under the most financial hardship. Homeowners that are both behind in their payments and in foreclosure will usually get top priority. Homeowners that are behind in [...]
The short answer is, no, you don’t have to. But it would be better to get an approval for a short sale from your lender before putting the house on the market. There are 2 important benefits in this: It will stop the foreclosure process, and your lender will give you at least 120 days [...]
Yes. Your lender will mostly likely not work with you without a licensed real-estate agent that is familiar with short sales, and they prefer local agents. They will not allow the owner to short sale their own house. Ultimately, there is no benefit in doing a short sale by yourself because the lender pays for [...]
Please click here for your Free ebook “Should I Short Sale My House” I am giving you $500.00 to help pay for a portion of your moving expenses at close of escrow if you call me today. This is an extra incentive but really the main reasons why you may want to consider as your [...]
How can the New HAFA Program Make it Easier to Short Sale my House? HAFA stands for Home Affordable Foreclosure Alternatives. This federal program took effect on April 5th, 2010. HAFA is a supplement to HAMP – the Home Affordable Modification Program. As many have become aware, HAMP has not been doing very well. Out [...]
You can avoid a short sale through a loan modification whereby the lender restructures your existing mortgage. Banks are sometimes willing to help homeowners by reducing their mortgage payments and mortgage interest rates. A loan modification can be a great deal for some homeowners, but for most, it will not help. Here are a few [...]
Here are some basic guidelines in determining what to offer the lender to get them to approve a short sale. 1. Determine the Fair Market Value (FMV) The FMV can be determined by examining several houses that have already been sold that are physically comparable to, and are located near, the property that you seek [...]
Luis Cardozo
Short Sale Broker
Innovative Realty
1680 The Alameda #C11
San Jose,CA, 95126
408-221-2893
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