We are happy to announce the closing on another one of our short sale listings, this time in Madison, WI! This was a Bank of America negotiated short sale. Bank of America has made many changes to make their short sale process easier and more efficient. Short sale transactions can be complex, but if you have an experienced Short Sale Realtor® the process is much more manageable.

This was…

Roseville Short Sale Advice

Short Sale Tax Relief measure extended until January 1st, 2014.  Bill passed Senate and then the House last evening.  President Obama says he will sign the bill, but did not say exactly…

According to records HAMP has failed at generating the initial guaranteed 3 to 4 million permanent loan modifications. Actually HAMP has surpassed its one millionth trial or permanent mortgage modification between June 2010 and July 2012. The Treasury reports that 770,834 borrowers either did not qualify for the program during that period, or failed to finish a 90 day trial. Additionally, 229,185 permanent modifications redefaulted after making the first three consecutive monthly payments…

This is a quick Short Sale market update for New Haven County and Branford, CT. I am a Short Sale Specialist in New Haven County. Short Sales are the new normal and are very relevant in New Haven County and Branford, CT. 



In the last 6 months there has been a total of 9,365 total transactions in New Haven County. (Total transactions for…

GRAND TERRACE CA SHORT SALE AGENTS

A Grand Terrace CA real estate short sale is a sale of a Grand Terrace CA home in which the proceeds from selling the property will fall short, or not be as much, of the balance owed on the Grand Terrace CA house because the property owner cannot afford to repay the full mortgage amount(s).  In another words, the under-water homeowner sells the Grand Terrace, CA home for…

Glendale Short Sale Help

Glendale, California – Is your loan with a large Bank/Lender, for instance Chase, Well Fargo, Bank of America or Citibank? In contrast, these Banks/Lenders usually do not make the FINAL decision on your Glendale Short Sale.

Here are the reasons…

Is a Loan Modification Right For You? | Carson | Short Sale | Leesa Hammond

Have the circumstances in your life changed whereby you can’t make the payments? Job layoffs, reduced hours which equates to reduce pay?  Now, you can’t afford your mortgage payments and you are desperate for a solution.

The interesting fact is the banks and the federal government would love for you to believe that a loan modification is the end all to put you back on track to stabilizing your…

Bank of America has and will continue to release pools of loans. No loan is safe from a service release even if it is an already approved short sale. This seems to be even more interesting because the lender the file is going to seems to be largely dependent on the state the property is in. A large amount of the serviced released loans in the state…

Short Sale Information and Favorable Laws in 2012 for California Homeowners



Short Sale Related Laws you should know about as a homeowner



SB 931 Deficiency Waiver on First Mortgage



When First mortgage holder of your loan accepts full payment and satisfaction of all your outstanding first loan from the successful completion of  the sale of your home, your lender is  is prevented from pursuing a deficiency against you even after a short sale. This…

99% of Loan Modification Transfer Title…

The basic reality that needs to be understood by a homeowner is that when ANY paperwork is done on or for a loan modification there is a 99% chance that there will either be a short sale or a foreclosure.

The reason why?

Simple, other than the 1% that hit the lottery or the homeowner that gets a full rewrite or recast or alternatively a possible balance reduction on their existing loan terms, they won’t!

It is just basic…

I listed a short sale with 2 loans serviced by Chase. CLTV is LESS that 50% of market value. Submitted a CASH buyer and assigned a negotiator in less than 3 weeks. Today, he is submitting my package to the investor. 

We'll see...NOD in May 2012 but nothing posted in public record. Negotiating to include payoff to release an abstract of judgement from a deceased husband over a year ago. 

Scheduled to close AUGUST 30. 

Advice for Short Sale in Redondo Beach California|Redondo Beach California

Exactly How to Complete Short Sale

Do you own a house within Redondo Beach California?

The property foreclosure inventory for the last Five years has remained exactly the same. On average you have around 300-400 residences that are in active property foreclosure.

You may be questioning when the housing market will start going back up. Nicely lets simply say not for…

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.

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…

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.

First I must say, I am glad to be part of the Short Sale Superstars site.

I am currently working with two first-time homebuyers. Both of them have offers in on short sales.  One was with B of A and just finally got approved today (over 5 months...gee wez), the other one was with Wells Fargo who move much faster (less than 3 months). Not very often I get that good of news in the same week. I currently have one short sale listing in Fullerton, CA and their loan is also with B of A. …

I'm working on a 2nd lien approval with NYCB (formerly Amtrust) in Ohio.  I had an approval from Jan 2012 that was waiving the deficiency for the borrower.  Buyer walked 2 days before closing and we had to put the property back on the market. 

Have a new buyer, 1st lien approved and now the 2nd (NYCB) is approving the short sale with the right to pursue the deficiency.  Saying they will not waive the deficiency this time as their policy has changed. 

They also won't try to work…

West Bloomfield MI Short Sale, Escape Your Unmanageable Mortgage: Getting free doesn’t have to mean running away. Mike Sher, Certified Distressed Property Expert, Max Broock, (248) 496-1472

West Bloomfield MI Short Sale,…

Please come and Join me as I show how Short Sales are more about effort and less about certifications.

Mike Sher

 The Mike Sher Team, Max Broock Realtors, (248) 496-1572 is proud to be a Bank of America Equator Approved Realtor.

Having a Real Estate Licenses is not enough to be a Short Sale professional. What elevates a Realtor to a Short Sale professional?:

1. How man of short sales that have closed?
2. Do they negotiate the short sale or pass the file to another company to do it?
3. Are they educated in short sales?
4. Do they…