September 2012 Blog Posts (65)

When is it better to Simply "Walk" (Foreclose) and not seek a Short Sale?

If you’ve found this blog just by searching on the internet, there’s a good chance you’ve read the advantages a Short Sale can have over simply “walking” from the property and letting your lender foreclose.

In case you haven’t heard the reasons, let’s list some of them:

1. No Deficiency – if you have a “recourse” loan in California, you can be subject to further collections and a deficiency judgment after foreclosure. On the other hand, California Civil Code…

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Added by Edwin Baloloy on September 3, 2012 at 12:30pm — 2 Comments

MERS. New York Times article today..very interesting.

This is a good article about why the MERS system helped to create our current foreclosure crisis.

 

 

MERS issues in Foreclosures continue..

Short Sales are obviously being pushed by the Lenders because…

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Added by Kimberley Kelly on September 2, 2012 at 3:18am — No Comments

Does anyone know a short sale manager list for wells fargo?

I need to escalate a short sale which has been stalled with no response from Wells Fargo in the last three weeks.  Negotiator is not answering emails.  Does anyone have a list of email addresses and/or names and/or phone numbers of short sale managers I could contact or know a phone number I could call to get who the manager is of this negotiator or has any other suggestions?  Debbie Veler

Added by Debra "Debbie" Veler on September 2, 2012 at 2:53am — No Comments

Are Some Listing Brokers Shunning Other Agents?

Good morning Superstars.

This week's Superstar discussions.…

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Added by Bryant Tutas on September 2, 2012 at 1:30am — No Comments

Late Payments Are Typically What Have the Major Affect on a Borrower's Credit

Your Credit Score

When you foreclose on a home your credit will be altered for about 5+ years, to say the least. However, when you do a short sale your credit is also affected, but for a much shorter time period and less damage is done. The truth is there is no concrete answer as to how many points it will affect your score. Every person has his or her own FICO and each individual’s score will vary. What I can tell you is the late payments are typically what have the…

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Added by Mona Salem on September 1, 2012 at 9:27am — No Comments

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