Hello !

I have a client in need of short sale in that area.  Small house. No buyer yet.

You can take the lead and take the listing.  All I ask for is to deliver great service and results!

If interested, give me a call at 626-324-0388.

Take care, 

Enrique Vasquez-Plaza
REALTOR®
EMPORIUM FINANCIAL GROUP
626-732-4560 office
626-324-0388 cell
626-732-4580 fax

The National Association of Realtors and the U.S. Department of the Treasury are collaborating to help Realtors better assist distressed homeowners who are struggling to Selling Your Home Through a Short Sale - Avoid Foreclosure.

Realtors who attend upcoming Making Home Affordable "Help for Homeowners" outreach events, sponsored by the Treasury Department, will learn insights to help them navigate the short sale process and have the opportunity to meet directly with loan servicers on their clients’ behalf for assistance with difficult transactions, according to a statement.

"As the nation’s leading advocate for homeownership and housing issues, Realtors are working hard to keep more people in their homes, and when a family is absolutely unable to keep their home, Realtors specializing in short sales, short sale specialists are there to help homeowners by facilitating a loan modification or short sale," said NAR President Moe Veissi, broker-owner of Veissi & Assoc. inc. in Miami.

"Help for Homeowners" community events will take place throughout the year; the first sessions are in Miami today and Tampa, Fla. on Feb. 24. Additional events are scheduled in Chicago, Indianapolis, Los Angeles, and Sacramento, Calif.

The sessions for real estate professionals are not open to homeowners, but borrowers who are in financial distress and concerned about losing their home to foreclosure are encouraged to attend the free homeowner sessions. Homeowners who are having difficulty paying their mortgage will be able to meet one-on-one with loan servicers and housing counselors to explore foreclosure prevention options and work toward solutions to their mortgage problems. Real estate professionals are encouraged to invite homeowners and their clients to the events and are welcome to accompany their clients in conversations with the servicers.

The Opland Group Specializes in Real Estate Sales, Luxury Home Sales, Short Sales in;  Bexley  Columbus  Delaware  Downtown  Dublin  Gahanna  Grandview Heights  Granville  Grove City  Groveport  Hilliard  Lewis Center  New Albany  Pickerington  Polaris  Powell   Upper Arlington  Westerville  Worthington

Anyone have a good contact with Indy Mac.  Been working on a short sale since Sept.  Have an approval but can't get Trustee Sale Extended.  Eric Middlebrook movingaz@aol.com

Change the Course!

Foreclosure fears foster true grief

Reports of foreclosures by the millions have been in the news so much over the past few years that to some, it might seem like the new normal.  It sure is the new normal here in Phoenix, Arizona.  We  are one of the states that have been hit the hardest with Short Sales and Foreclosures.

But as a real estate professional and a Phoenix, Arizona Short Sale Agent who is in the trenches with financially stressed homeowners every day, it never for a second feels to me like business-as-usual.

The prospect of losing ones home is right up there among the major sources of grief, and often, it goes hand in hand with other tragic setbacks such as the loss of a job, a divorce, death of a loved one, mounting medical bills or skyrocketing mortgage payments.

Unfortunately, the first stage of grief is Denial, and that’s even more the case when the threat of foreclosure is looming. No one wants to talk about or admit financial troubles—even when millions of others have founds themselves in a similar spot.  It’s completely understandable, but for homeowners who are behind on mortgage payments, decisive action is often the most critical step toward ensuring the best possible solution.

Sound familiar?   Rest assured you are not alone.

If you feel that you are headed toward Foreclosure, or if you are avoiding facing that fact, the sooner you reach out for help, the better your options.  The impact of Foreclosure in Phoenix, Arizona is huge and the sad fact is that it’s often avoidable with other options and many cases it's usually a Short Sale.

To find out if a Phoenix ShortSale is right for you...Click here for your...

As a real estate professional who has sought out the Certified Distressed Property Expert (CDPE) designation, I help homeowners to deal with every aspect of the grief and uncertainty that accompanies a mortgage which is no longer manageable. In the process, I help them to get on a path of financial solvency.

If you or someone you care about would like to change the course of a life that’s facing foreclosure, I get it and I can help.

Arthur Wainio

www.shortsalewitharthur.com

Senators are introducing legislation to shorten the process of a short sale about time.  Sen. Scott Brown, R-Mass., along with Sen. Lisa Murkowski, R-Alaska, and Sen. Sherrod Brown, D-Ohio have joined forces and have a bill in the works.  The Bill S-2120 aim is to require lenders to shorten the time to get an approval.  This Act may be cited as the `Prompt Notification of Short Sales Act'. And if passed would cut the time to 75 days for approval.  This is one to watch…

Richard & Janet - Certified Short Sale Professional HAFA - Certified 661-733-0507 OR 733-0508 Keller Williams Realty AV Serving Palmdale, Lancaster in California www.HomesByJR.com www.ShortSaleByJR.com

Are Mortgage Payments Weighing You Down?

Take action now to turn it around in 2012

Recent economic upheaval has taken a hefty toll. Foreclosures and Short Sales are every where in Phoenix, Arizona.  Looking forward to 2012, it’s impossible to know what’s next and the kind of an impact that an upturn or a downturn at the national level stands to have on your family’s finances.

Regardless of what happens in Washington or on Wall Street, two things are very clear: you are not alone and now is the time to prepare for a new normal.

With a national epidemic of unemployment or underemployment, and 25 percent of the homeowners in the country owing more on their home than they could net for it in today’s market, homeownership for many has become a financial liability. Not being able to make payments on a home that you can’t afford to sell feels like an awful trap, but the fact is, there are solutions—and foreclosing on your mortgageis not one of them.

Loan modification is an option for many and banks are increasingly willing to negotiate Short Sales here in Phoenix, Arizona. In many cases, they’re offering sizable financial incentives to help financially strapped homeowners to get a fresh start on their lives.

As real estate professional who has achieved the Certified Distressed Property Expert (CDPE) designation and your Arizona Short Sale Realtor, it is my mission to give you and other  homeowners the gift of a fresh start. 

You are not alone?

 If you feel that you are headed toward Foreclosure, or if you are avoiding facing that fact, the sooner you reach out for help, the better your options.  The impact of Foreclosure in Phoenix, Arizona is huge and the sad fact is that it’s often avoidable with other options and many cases it's usually a Short Sale.

To find out if a Phoenix ShortSale is right for you...Click here for your...

 Contact me TODAY and let’s get started.

Arthur Wainio

www.shortsalewitharthur.com

It can happen quickly.

An expensive car repair, an unexpected hospital visit, a missed week of work – just a few little things and the life you’ve worked so hard to build can feel like it’s tipping dangerously out of balance.

Once the scales turn against you, it can feel like it is impossible to ever tip them back in your favor again. When your financial problems reach the point where they threaten your home, it is difficult to manage the stress. Sometimes it is even difficult to force yourself to seek help.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide financially-challenged homeowners with options to foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.

Choose to face the challenge with a professional on your side.

I can help you realign the balance in your financial life and tip the scales back in your favor. Call or email me and schedule your free, confidential consultation. We can work together to make sure you end up ahead.

Mike Sher- Max Broock Realtors - Michigan

(248) 496-1572 - shortsale@mikerealtor.com

Are there any other Virginia SS gurus on this site? I could use some help on a VHDA SS. VHDA is a tough nut and we could use some help from someone who has more experience than we do with them. We've closed one with them, and it went beautifully, but we are finding that they don't negotiate and their SS terms on their non-insured loans are all but impossible. I am working on 2 at the moment (neither are insured loans--the one we closed was insured, so none of the following conditions applied), and VHDA (who is also the investor on their loans) is telling us they won't pay any buyer CC (but will take a prom note from the seller for them), and will only give $500 to seller toward the seller CC, and THAT'S IT. They aren't paying for anything else but a 6% commission. I have already been in touch with their Dept Mgr, Mary Ana Fulcher (it's a small group, handling only about 300 SSs currently).

HELP PLEASE!!

DiscussionsRepliesLatest Activity

Wells Fargo Unreasonable Request for Promissory Note I have been working on a short sale with wells for the last 7 months. At first the BPO came in for almost 500k and our contract is for 455k… Started by DIMITRI PETROVSKY	4	8 seconds ago Reply by Bryant Tutas
Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K Does anyone know of any options for a seller when the second mortgager PNC refuses to particpate in HAFA? Has anyone seen the first mortgag… Started by KB Keller Williams	25	1 minute ago Reply by Bryant Tutas
Update on BB&T plus what is the sellers benefit of accepting their offer After numerous hours of calling BB&T's corporate offices I found someone in the Recovery Dept who was willing to contact the attorneys… Started by Julie Wilkinson	2	15 hours ago Reply by Wendy Rulnick
Stuck on negotiations with Chase on 1st and Real Time Resolutions on 2nd-- HELP!!! Hi everyone, what a great website! I am in an ugly situation with Chase on the 1st and RTR on the 2nd. Chase approved HAFA short sale in No… Started by Cricket Yee	7	23 hours ago Reply by Rita Cox
Deed in Lieu: How many have you worked? We all know what a deed-in-lieu is. The question is: How often does a DIL occur? In 80 short sales, I have zero DILs, as far as I know.… Started by Michael Schneider	10	yesterday Reply by Kevin - Greenville, SC
Seller changed listing agents at the last minute! It's been 7 months, we have a verbal approval from Chase, written approval is coming in the next couple of days, the extraordinary HOA fees… Started by Lauren Michaels	5	yesterday Reply by Beverly Cibulsky
What is your professional opinion on this? OK, here's the deal: My wife and I decided it was time to buy our first home. Unfortunately, the only house we could both agree on is a SS… Started by Jackalope	14	yesterday Reply by Jackalope
Mortage Release Language From Central Hi all, I've been searching the forum and I think I have the answer to my question but thought I'd throw it out there to double check. I r… Started by Jae Evans	4	yesterday Reply by Drew Ludlow
FHA Preforeclosure Sales Program - What are the maxiumum allowable buyer closing cost... What are the maximum allowable buyer closing cost a seller can pay when the buyer is obtaining a new FHA insured loan? The default answer… Started by Brian Brumpton	4	yesterday Reply by Drew Ludlow

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2. Short Sale Listing Package
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REGrow, LLC does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community

The Winchester, VA real estate market is predominately made up of three types of real estate sales.  There are fair market (straight seller sales), short sales and foreclosures (also known as REOs or bank owned properties).

The Winchester, VA real estate market report for 1/24/2012 - 2/24/2012 consisted of 62 sales.  Of that number, 31 were fair market, 12 were short sales and 19 were foreclosures.  Even though the current active listings show that only 20% of the listings are made up of foreclosures and short sales, the most recent 30 day sales report tells a different story.  Fifty percent (50%) of sales were made up of foreclosures and short sales.  

The price ranges for each category varies substantially.  Fair market sales range from $77,150 - $470,000.  Foreclosure sales range from $42,000 - $285,000, and Short Sales range from $76500 - $370,000.

The "list to sold price" also swung sharply from one group to the other.  The market data shows that a buyer is better off to buy a short sale than either of the other two types of sales. Short sales on average sold at 84.36% of list.

Fair market sales sold at 95% of list, and foreclosures sold at 91.42% of list.  The advantage of buying a foreclosure during this period is the days on the market.  From list to close, foreclosures averaged 45 days.  Short sales, which are notorious for taking forever to get to closing, actually only averaged 93 days on market to close.  Fair market sales averaged 139 days on the market.  

A buyer was likely to pay more for a fair market property during this period, but in most cases, the fair market property offered less potential problems getting to closing.  That's not always true, but it often is the case.  Short sales and foreclosure properties have potential issues getting to closing due to the circumstances which brought them to market. 

All three types of properties offer Winchester VA real estate buyers great options.  When you're ready to start your real estate search, give Cornerstone Business Group, Inc., a call and we'll help you find the right house at the right price.  

 Winchester, VA real estate market report for 1/24/2012 - 2/24/2012 

Well I finally got the short sale closed with Aurora as the first & SPS as the second.  I had to use the phone number that I found on this website for the escalation dept at Aurora.  Thank you to whomever posted the phone number.  It worked!  After months of getting nowhere and getting sent to the same voicemail without any return calls, I finally got a live person to explain the file to and work out the problems.  Thank you short sale superstars.  Anyone needs the phone number, let me know and I will post it.  Thanks again

This seems to be all over the web these days as real estate sites get the
word out and, there’s a lot of paid advertising on the Google about getting bucks for selling short. The phrases are all about the same: “Get Paid to Short Sale My Home” is the most prevalent.  Also we see the bank’s name inserted in front like Chase paid me cash to sell short, Wachovia Paid me to Short Sale my home and alike.  

Take care, some of what you are seeing is false information; remember
“if it sounds too good to be true”.  Chase bank is offering a program currently known as "List Assist" where if you as the seller qualify Chase may (and that’s a big MAY) pay you up to $35,000.00 to complete a short sale.  

Qualifications
for the Chase Bank short sale program are that your loan must be what
is known as a "portfolio loan”.  Furthermore, it
must have been originated with Washington Mutual and been purchased by
Chase Bank through the acquisitions of Washington Mutual and it must
still be a Chase owned loan.

Currently theses are the incentive I have been able to track down (avg):
Wachovia – 5,0000
Chase - 3,000 to 35,000
Wells Fargo using the HAFA program 3,0000
Bank Of America – 3,000

I could not find anything on Citi or Litton Loan (Ocwen)

If you are looking to short sell you home are want to see if you can
advantage of these payback options let us know.   www.ShortSaleByJR.com

 Seller has about one year to serve on money laundering conviction which also carried a $260,000 fine

 The fine is showing up on title as federal lien DOJ , can he sell , mod or DIL with a lien that exceeds the value of the property ?

There are approx 7,953 homes for sale in the Las Vegas area that do not have offers on them per the local MLS.

This is for single family homes without contracts on them.

Our pendings and homes with contracts on them are approx .... 11,634

The Las Vegas area homes available for offers has continued to drop again this past month largely in part to the foreclosure law law AB 284 that took effect on October 1, 2011.

Las Vegas Short Sales are approx 44% of the homes for sale on the market while foreclosures have dropped to about 16% of the homes on the market for sale.

The rest are equity sales that are typically flips,

 (homes that are bought at the auction then put back on the market for sale)

Going into the buying season with lower inventory means buyers need to be ready to put that best offer in on the first try as we are already seeing multiple offers again.

Home price are still historically low so that is also fueling the investors to buy here in Las Vegas.

Fear of foreclosure is a national epidemic.

Resolve to Face the Facts!

Many people here in Phoenix, Arizonaare Tipping the Scales Toward Foreclosure!

Since 2007, 8.9 million homes have been lost to Foreclosure and boy, here is Phoenix Arizona, we have had one of the hardest hits for Short Sales and Foreclosures.  They are saying that millions more are headed in that direction.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to ensure that you or anyone you care about does not add to that statistic.

The unfortunate fact is that so many homeowners who have played by the rules and never imagined that they could be facing Foreclosure or doing a  Short Sale  in Phoenix, Arizonaare now in a very tough situation.

More than one in four homeowners owes more on their mortgage than their home is even Worth. On top of that staggering statistic is the fact that millions of homeowners are unemployed, or underemployed and falling further behind every month.

Sound familiar?   Rest assured you are not alone. 

If you feel that you are headed toward Foreclosure, or if you are avoiding facing that fact, the sooner you reach out for help, the better your options.  The impact of Foreclosure in Phoenix, Arizona is huge and the sad fact is that it’s often avoidable with other options and many cases it's usually a Short Sale.

To find out if a Phoenix ShortSale is right for you...Click here for your...

As a CDPE agent, I help distressed homeowners to work through every aspect of the denial and discouragement that accompanies a mortgage which is no longer manageable, and in the process, to move toward financial solvency.

If you or someone you care about is ready to tip the scales back toward financial solvency, contact me today and let’s get started.

Arthur Wainio

www.shortsalewitharthur.com

This Week's Discussions

Is it me, or is it the short sale system??? I have been working short sale homes now for about 3 years, ranging in price ranges from 1 mil, down to 30k. During those 3 years, I've wor… Started by Eddie Kearns	18	8 hours ago Reply by Sheyenne Schultz
Speed of approval, B of A vs Wells Fargo Hello Superstars, Are you finding that Wells Fargo (now on Equator) is still generally faster than B or A for approvals? I have a first and… Started by Sue Irwin	8	8 hours ago Reply by Sheyenne Schultz
Under what conditions would a short sale on investment property be approved? Hi all, this is my first post on this forum. Please forgive me for posting such an elementary question but here it goes: I'm a relativel… Started by jerrold stallworth	2	9 hours ago Reply by Sheyenne Schultz
How to find who's delinquent on their mortgage Just curious if anyone has any idea on how to find out who's delinquent on their mortgage. (Prior to an NOD being filed.) This seems like… Started by Jeffrey Burnham	1	9 hours ago Reply by EDWARD ( Augie ) AUGSBERGER
Valid reason for short sale? Hello, My fiance and I both own a home. We can afford both mortgages right now, but would like to sell her condo so we can consolidate b… Started by Anthony Costa	9	14 hours ago Reply by Joseph Alfe
Short Sale - No Real Hardship? I have a friend/client that would like to do a short sale. However, this client has strong income. He can certainly afford all of his month… Started by Clayton Bonjean	7	14 hours ago Reply by Joseph Alfe
HELP! I need to get 2 judgments released to close a short sale. Hi Everyone, I could really use some help. I have a client that has 2 judgments that need to be released so that her short sale can be com… Started by Carolyn Lien	13	16 hours ago Reply by Joann Torvik
US Bank -- a few questions about Retention Options letter and HUD-1 Hello Short Sale Superstars, (Guys, I am new to this site, so please excuse me if I am doing something wrong, BUT I need your help!) We are… Started by Vince Huntington	2	16 hours ago Reply by Vince Huntington
$25B Settlement by top 5 Banks Anyone have a feel for how/ when the settlement will be implemented? How/when will those foreclosed upon already receive their pitances? Started by Jeffrey Burnham	2	16 hours ago Reply by Jeffrey Burnham
Mortgage Insurance Selling Their Claim Recovery Rights To A Debt Collector I just saw this posted on the CDPE forums. “Account is a claim-transferred from Radian to Franklin Credit Management collection. The claim… Started by you	4	18 hours ago Reply by Michael Schneider

Need Training?

Visit the

OR

Join the Advanced Training Group

Group members have access to:

1. ALL training webinars.
   1. Currently 12 Webinars with more coming. (Click to View)
2. Short Sale Listing Package
3. Expired Listing Letter
4. Lis Pendens Letter
5. FSBO Letter
6. Sample HUDs
7. Sample BPO Disputes
   
8. You will become a "Featured Member" under "Find Agent" for leads
9. Private Member Forum
10. Direct Access to Wendy and Bryant For Short Sale Help

Membership is Only $197.00

This site is owned and operated by REGrow, LLC

A Licensed Florida Real Estate Brokerage

ShortSaleSuperStars@gmail.com

DISCLAIMER

REGrow, LLC does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community

Need feedback, help and advise.

I've listed a home (Nov. 2011)  in Scottsdale AZ, for a seller who was discharged of his Mtg Debts thru Chapter 7 BK in  2 months prior-Sept.2011.

The seller did not want a secondary negative credit reporting of a  'foreclosure' on his credit after his BK, so that is the reason he would like to short sell.

The first Lien holder ( B of A) approved the short sale and offered the junior Lien holder (chase) $6,000 to release the lien.

Chase sold or transferred their Mtg debt to a Debt collector named Five Lakes Agency (out of MI), who I believe works under the company known as Randall, Miller & Associates P.C.

This Debt collector has demanded all the short sale info and  contract, including the buyers (who I do not represent) Pre Qual letter. (Fincancials!) in which I  provided everything to them to move for  their approval.

This Debt collector stated, "The house has NOT been on the Market long enough, and to dump this accepted buyer and find another one who will pay them $20,000, otherwise, the sale will NOT happen". They said they "will NOT forward the contract and B of A offer  that pays  Chase $6,000 and a minimum of $20,000 is all they can forward to Chase." 

Now, let me get this straight..

A 3rd party (not associated with the debt in Michigan,  is a negotiator for a short sale which is  practicing Real estate- UNLICENSED in AZ-  as well as attempting to collect an 'uncollectable' debt from a party (Buyer)  not associated with the actual debt- in order to strong arm a hold on the junior Lien release.

What happened to MARS compliancy?  How do I get past this Debt collector to let Chase KNow they have $6,000 free money to simply release the Lien in which they have to do anyway if the home forecloses...

Anyone- anyone- ?

Weird situation here that I basically don't understand.  I've been doing short sales for clients for a few years and have never run into this situation. 

Client preapproved for HAFA with a list price of $146,000.  I thought it was inflated but put it on the market anyway.  Got an offer for $128,000.  Counteroffer came back at $146,000.  Buyer walked.  Got a new offer from a new buyer at $138,000.  I submitted this offer with an appraisal of $137,500.  The borrower owes approx. $130,000 on the 1st and $80,000 on the 2nd.  The first includes principal, interest, late fees, and attorney's fees.  Per the HUD, Fannie Mae would get approx. $118,000 after all closing costs, 2nd lien payoff, relocation assistance, etc.  Got a call from the negotiator at B of A and was told that she was declining the short sale because it was no longer a short sale since the 1st would be made whole.  Here's the kicker....Fannie Mae re-evaluated the value and decided to drop what they thought the property was worth.  I was told that if they didn't do that, we would be processing a short sale and probably getting it approved because FM thought the property was worth more.  That's where I'm confused....how does lowering the value of the property change it from short sale eligible to not eligible.  The negotiator told me to just sell it normally.  That would mean the seller would have to pay closing costs and come up with money for the 2nd which she does NOT have.  The negotiator said they have to follow their guidelines.  I don't understand so someone please help.