June 2012 Blog Posts (44)

Two new Short Sales coming up..

Two spectacular short sales coming up next week here in the Palm Springs Valley, California..

1.  Indian Palms CC, Indio, CA.:  This 3bd/3ba Condo is located on the Fairway and in great condition.  Appliances included other than washer/dryer.  Granite eat counter was added off the kitchen and there is a lovely, gated porch on the Fairway side of the…


Added by Kimberley Kelly on June 30, 2012 at 6:10am — No Comments

Reputation And Choosing a Realtor To List Your Sunnyvale Short Sale

In 2007 the Sunnyvale market was very competitive for buyers, especially for homes in the Cupertino School District. Many homes were getting multiple offers (like today) and nerves were often frayed (like today). I was working with a very nice couple who were looking for a single family home with Cupertino schools. They made several offers before one of their offers was finally accepted. 

One house came on the market in the Birdland neighborhood and the agent said we…


Added by Marcy Moyer on June 29, 2012 at 5:07pm — No Comments

Can I still do a short sale even If I am going through a foreclosure?

Absolutely. YES!!! You will not be asked to move out until the closing. If your specialist is actively working with your bank, your lender will typically delay the foreclosure proceedings making it possible for you to stay in your home a little longer.

Added by Carmine R Biello Jr on June 28, 2012 at 7:58pm — No Comments

How do I qualify for a short sale?

 While lenders have become more lenient in recent times, there are typically three qualifications required for a short sale.

  1. Financial Insolvency (no other major assets),
  2. The proceeds from the sale of the property, after all closing costs are paid, are less than the amount currently owed on the property, and
  3. Financial hardship. Acceptable hardships may vary, but some common ones are; loss of income or employment, divorce or separation, relocation or job…

Added by Carmine R Biello Jr on June 28, 2012 at 7:57pm — No Comments

Why Should I short sale my home?

To settle for a foreclosure means accepting the damage to your credit a foreclosure would bring. It also means accepting the fact that in many states, the lender will seek a deficiency judgment in the amount that is owed. A short sale by itself will typically lower your credit score by 50-120 points, however the hardest hit on your credit will be from missed mortgage payments, not the short sale itself. Your credit will usually recover from a short sale in as little as two years, whereas a…


Added by Carmine R Biello Jr on June 28, 2012 at 7:54pm — No Comments

What is a Short Sale

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 its current state, however, a short sale happens only when a homeowner qualifies through some kind of hardship.

Added by Carmine R Biello Jr on June 28, 2012 at 7:52pm — No Comments

Aurora Bank

Found out that my Short Sale with ____________ has been stopped as they are transferring this sellers loan to Nationstar . Having Irrate Sellers and Buyers and Buyers agent panting at my door . This is so sad anyone 

Added by Catherine M Haney on June 26, 2012 at 4:20pm — No Comments

Short Sales and Self Check Out Lanes


You think you’ll try the self check out lane because you’re kind of in a hurry and with only a couple of items, it seems like the right thing to do.

First, the scanner doesn’t read your bananas so you have to punch the numbers in manually, but because the code on the sticker is so small, you have to first get your…


Added by Tamara Dorris on June 26, 2012 at 10:43am — No Comments

Deceased property owner

Contacted Citi past December to initiate short sale. Submitted all required documents, with offer in January.

They contacted me to meet with appraiser in February.Have continued to stay in touch on a bi-weekly basis.

2 weeks ago when I called to check status, they informed me that the short sale department is no longer authorized to speak with me as the property owner is deceased and the file is with their legal department, which will not speak to me either. Yes, this was of…


Added by Judith Canero on June 24, 2012 at 3:34pm — 2 Comments

Is it wise to "name names" in Blog Posts?

Specifically...Lender names when talking about experiences with them with regards to Short Sales??? 

I have mixed feelings here.  Yes, I have posted blogs about my own experiences with particular Lenders.  They DO get responses..both from other Short Sale Agents which I find most helpful and even in some cases, the Lenders themselves.  I have had several stalled Short…


Added by Kimberley Kelly on June 24, 2012 at 6:14am — 2 Comments

NEWSLETTER: Great News For Our Military Members And Short Sales!!

Good morning Superstars.

We hope everyone had a productive week helping folks avoid foreclosure. We had a major site redesign yesterday so be sure to pop over and have a look. Let us know what you think.

This Week's Top Short Sale…


Added by Bryant Tutas on June 24, 2012 at 4:26am — No Comments

FHFA Announces Short Sale Assistance for Military Homeowners with Fannie Mae or Freddie Mac Loans

Great news for our military members!!

June 21, 2012

Washington, DC – Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco today announced changes to short sale policies that will make it easier for military homeowners with Fannie Mae and Freddie Mac loans to honor their financial commitments when they are required to move as part of their duty.

Under the new policy Fannie Mae and Freddie Mac will not pursue a…


Added by Bryant Tutas on June 24, 2012 at 3:30am — 3 Comments

What To Do If You Can Not Afford To Pay Your Mortgage

Don't be an ostrich!


If you have an questions about short sales in The Silicon Valley please feel free to contact me.

Marcy Moyer

Keller Williams Realty

[email protected]



D.R.E.  01191194

Added by Marcy Moyer on June 22, 2012 at 3:30pm — No Comments

J. P. Morgan Chase is quickly becoming the bank of the incompetents

J. P. Morgan Chase is quickly becoming the bank of the incompetents.  Not only can they lose 2 billion dollars in investor funds, but they can also turn a…


Added by Mike Cooper on June 21, 2012 at 8:09pm — 5 Comments

Time is Running Out: The Mortgage Debt Relief Act is ending and why you should care!

The ticking time Bomb!!!

Time is Running Out: How the Mortgage Debt Relief Act can save you!

 In 2007, the Mortgage Debt Relief Act was passed in an attempt to help the millions of homeowners who, due to the housing crisis and economic crash,…


Added by Arthur Wainio on June 20, 2012 at 6:35am — 1 Comment

Is a Short Sale Right For Me?

 How can you know if a SHORT SALE is a good option for you?…

Added by Fernando Herboso on June 19, 2012 at 1:45pm — No Comments

Wisconsin May 2012 Housing Statistics

Counties of WI The Wisconsin housing statistics are now in for May of 2012. Here is an excerpt from what the Wisconsin Realtors Association (WRA) had to say:…


Added by Michael Collins, CDPE, SFR on June 19, 2012 at 8:56am — No Comments

Another La Quinta, California Short Sale Listed, worked and CLOSED!

Just one more home loan adjusted, wiped off the books and a new buyer in place here in La Quinta.  This 3 bdrm/2ba courtyard POOL home was built in 1993 and approximately 1550 sf.  Currently has a tenant in place that has signed a lease with the new Buyers. 

Avenida Alvarado in the La Quinta Cove.

Original note value of $386,000.  Purchased in 2007.  Chase was…


Added by Kimberley Kelly on June 19, 2012 at 5:56am — No Comments

La Quinta Short Sale; Just Listed!

This charming 3bd/2 bath home is located in the La Quinta Cove.  52255 Avenida Obregon  $148,000.  Well maintained and smartly designed inside with a large kitchen, family room and nice seperation of master bedroom and guest bedrooms.  The front yard features an enclosed, gated courtyard that is lushly landscaped.  Both sideyards are gated and the backyard is a green oasis from the desert heat. 

There is only one note with Chase on this home and the home has been a primary residence. …


Added by Kimberley Kelly on June 18, 2012 at 2:30pm — No Comments

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