Top 5 Mistakes Short Sale Sellers Make

As a Santa Maria Short Sale Agent, I see short sale sellers make critical mistakes time and time again.  Here is my list of the top 5 mistakes I see:

1)   They wait too long to put the home on the market.Many times sellers believe that…

Short Sale Approval Received in 26 Days from Well Fargo Home Mortgage!

I just received short sale approval from Wells Fargo in 26 days!  It was a total of twenty six days from when the short sale application was submitted to the lender until I received the short sale approval letter in my email box.  So much is written about the bad short sales - the ones that drag on for months at a time - that I thought I should…

Can My Sister Buy My Orcutt CA Short Sale?

I am asked this question or a variation of this question all the time.  Strictly speaking, the answer is no.  Banks and investors generally will only approve a short sale if it is an arm’s length transaction.  What does arm’s length mean?   According to the Wells Fargo Banks’ Arm’s Length Affidavit that they ask the buyer, seller, and real estate agents involved to sign, it means:

No party…

5 Reasons Why A Loan Modification May Not Be the Answer for You

When considering whether you should pursue a short sale or a loan modification, homeowners should consider and discuss the following issues with their legal counsel and tax advisor.  

•1)      Not every loan modification solves an equity problem.  If your house is worth half of what you paid for it, a loan modification may not solve your problem, unless it…