Livermore, Pleasanton, Danville, Short Sale Specialist
  

Questions on Foreclosures and Short Sale

If your thinking of walking away and just letting your home go into foreclosure and letting the bank take it, well you have options, your best option is a short sale, if your thinking why, well lets start with your credit, if the bank sees that your are willing to do a short sale and not just walk away, your credit will come done just a little on the fico score system, if your choice is a foreclosure and just walk away, your foreclosure on your credit report will not look as good, and stay on your credit report for average of 7 years, and your fico score will drop more.

What is the cost for doing a short sale, nothing, no charge to the home owner, all commissions are paid by bank lenders.

Received foreclosure notice from bank, can I still do a short sale, absolutely YES!!!

After you receive a notice of default or foreclosure notice, we still can stop the foreclosure, please contact us as soon as you receive the foreclosure notice, we need a minimum of four weeks to stop a foreclosure, we have stopped some foreclosures in less then two weeks, the more time that we have, the better chance we have of a smooth transaction with the lenders. Even if you have two weeks left to sale date, call us, we still be able to stop the foreclosure.

Banks Programs are now offering Incentives,Short Sale Service

You may be eligible to receive $3,000–$30,000 in relocation assistance at closing. If you are not the primary resident of your property, you may request that the tenant receive the $3,000 in HAFA relocation assistance. Any additional amount above $3,000 may be paid to you.

Why use us for your short sale process,

We specialize in the foreclosure and short sale process, and our team of processors are CDPE or certified distress property experts, and process most short sales on the equator platform system, for default services, most lenders are now on the equator system. We work with all lenders in all fifty states, and work with all guidelines form different lenders and understand the default foreclosure process inside out. The short sale time period is done much quicker now, due to the equator platform.

Should I use any local real estate agent for short sale process, well most real estate agents well tell you, they do not like short sales processing, and would advise you to use a experienced short sale negotiator, that’s were we come in, our company works and process short sales for many real estate agents in all fifty states. There is much to know and do and understand in the short sale process, that’s why most real estate agents have their short sales done by short sale processors. Most short sales done by an inexperience short sale realtor well have a higher chance of not getting your short sale approved and letting your home go into foreclosure.

Will you Market my home for sale with a Realtor,

Yes we have real estate agents, from REMAX the largest brokerage for Real Estate, we handle everything, and we assign a real estate agent to you, to market your home for sale, and process your short sale.

You may be eligible for HAFA, the Home Affordable Foreclosure Alternatives program,

Financial hardship, with proof, it could be that your hours were cut or either spouse lost his or her job.

Divorce: it is advisable and less expensive to come to an agreement to sell the property ahead of time, because time is of the essence. the more you and your spouse haggle the Attorneys will be making a killing!!!

Bankruptcy: We will contact your Attorney to see where we are, if the property has been released, we will need proof.

Relocation: This a powerful reason, it is a real Hardship and in the eyes of the banks they will grant you the short sale.

Job transfer: Again it is serious you may not be earning the same salary as before.

Active in Military: Special dispensations and quick turn around of the approval.

Loss of family member: You have lost spouse and only one income very serious.

Loss of job: You are struggling to find another job but is taking too long to find the right position.

Your own Medical reasons: Unable to hold a job because of accident or illness.

Your current mortgage was taken out before January 1, 2009, your mortgage is past due or your loan is current but you believe you will miss a payment soon.

 

The unpaid principal balance on the loan is no greater than the following:

•1 Unit: $729,750

•2 Units: $934,200

•3 Units: $1,129,250

•4 Units: $1,403,400

 

You owe more on your house than it is worth, you are experiencing a hardship (such as a job loss, divorce or medical emergency) and are unable to afford your current home loan, your house is not condemned.
How we do it,

Program at a glance, on how we start our process

Step 1: Call us to discuss your financial situation with our specialist. We will check your eligibility for a Home Affordable Modification or any other home retention program, unless this was already done. If you are not able to stay in your house, we will let you know if you are eligible for a HAFA short sale.

Step 2: If you decide a short sale and is right for you, we will work with you and list your home with one of our real estate agents, or if you already have a real estate agent we will work with your agent to list your home on the market, to begin the HAFA short sale request. If you have a second mortgage with another lender, or any other liens, you need to negotiate their release to have the HAFA short sale approved.

Step 3: Once you enter into a HAFA Short Sale Agreement, we will start your short sale and market your home to sell typically 120 calendar days with our real estate agents or yours.

Step 4: Once you receive an offer, our real estate agent or yours will submit it to us along with all required HAFA documentation. We will get back to your real estate agent with a decision on the offer within 10 business days or less.

Step 5: If the offer is accepted, your house is sold and your mortgage and any other liens against the home are settled from the proceeds of the sale. You may be eligible to receive $3,000–$30,000 at closing to assist with relocation and moving expenses.

Benefits of a Short Sale,

Well you can buy a home again in less then two years, buy the time you save up for your down payment, you should be close to purchasing again. You could also be eligible to receive $3,000–$30,000 at closing on your short sale, and could start saving for your new home right from the start. By having a foreclosure on your credit report, it will not help you for a long time, and creditors look at foreclosures on credit report like you just did not care, and will stay on you credit report for average of 7 years. Short sale shows the creditors that you tried to do the right thing, and will not drop your credit report as much as a foreclosure. Your credit score will start to rise much quicker after doing a short sale.

We recommend that you do talk to a Tax advisor regarding the tax consequences on the amount forgiven. The reason is that we will be sun setting the “Mortgage Debt Relief Act of 2007” We the Real Estate Agents are actively talking to Congress so they can extend this deadline.

Notes: If you have a Bank of America loan you can benefit from their Cooperative Short Sale program, we don’t need to have an offer, and the Bank will determine the price in which they want the house to be listed at. You qualify for the Incentive program from $2,500 to $30,000.

Estate Sales: We can help set up a Estate sale/Garage sale so you can get rid of things you no longer need, you will be surprised when you start sorting those items it all adds up.

Credit: Your short sale will only affect you from 80 to a 100 points, it will show on your credit as “Amount settled for less than owed” there are cases in which the short sale process of 120 days will not show as late.

Do not forget!!! Never under any circumstance because somebody tell you, walk away from your property. However I do know what you are going through you are upset after all you are loosing your home!!!

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RE/MAX Accord Office Locations

 

RE/MAX Accord 1841 4th Street, Livermore CA 94550 925-373-7011

 

RE/MAX Accord 5950 StoneRidge Dr, Pleasanton CA 94588 925-373-7011

 

RE/MAX Accord 350 Montgomery Street San Ramon, CA 94583 925-373-7011

 

RE/MAX Accord 313 Sycamore Valley Road West, Danville, CA 94526 925-373-7011