Archive for the 'Short Sale FAQ’s' Category
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Certified Short Sale Negotiator Explains Deed Of Trust VS Mortgage
[caption id="attachment_5521" align="aligncenter" width="571" caption="California Deed Of Trust California Deed Of Trust State - Explanation"][/caption] As a Sacramento Short Sale Expert and Certified Short Sale Negotiator, I have grown to love this Real Estate market and running a successful Short Sale Business. One of the most enjoyable things about my business is working with and teaching homeowners and home buyers on the market and the housing economy. I'm constantly educating sellers and buyers how California's Deed of Trust works: Deed Of Trust VS Mortgage; Mortgage vs. Deed of Trust: There are two basic documents that can be used to establish the security for the loan: a mortgage or deed of trust. Most states require a mortgage but in California, we use a deed...
FHA Guidelines- MORTGAGEE LETTER 2008-43
[caption id="attachment_5471" align="aligncenter" width="500" caption="FHA Home ownership Rules After FHA Short Sale"][/caption] Following FHA's Short Sale Program allows homeowners to purchase immediately after a short sale. Read the FHA Short Sale Guidelines and FHA repurchase program that affects short sales on All HUD Properties. December 24, 2008 Mortgagee Letter 2008-43 TO: ALL HUD-APPROVED MORTGAGEES ATTENTION: Single Family Servicing Managers SUBJECT: Pre-Foreclosure Sale (PFS) Program - Utilizing the PFS Loss Mitigation Option to Assist Families Facing Foreclosure High foreclosure rates continue to have devastating effects on families and neighborhoods. The Federal Housing Administration (FHA) remains committed to taking actions to help families avoid foreclosure. Since being introduced as a national program in 1994[1], the PFS Program has helped thousands of mortgagors in default to avoid foreclosure and...
Unaffordable Mortgage? How To Start A Loan Modification
[caption id="attachment_5292" align="aligncenter" width="350" caption="Loan Modification Help In Sacramento"][/caption] Has your mortgage payment become unaffordable? Considering a loan modification in Folsom, El DorAdo Hills, Roseville, Natomas, Elk Grove or West Sacramento? Need someone to help with your Sacramento area Loan Modification? Read more and check Government Foreclosure Prevention Program Eligibility here. Homeowners never want to lose their home. And it's never an easy decision for an underwater homeowner or investor to do a short sale or strategic default. As a Certified Short Sale Specialist and an experienced short sale agent, I spend much of my time talking to homeowners in Folsom, El Dorado Hills, Shingle Springs, Cameron Park, and even West Sacramento, Roseville, Rocklin, Natomas and Elk Grove and the entire Sacramento area who...
How Do I Do a HAFA Short Sale?
[caption id="attachment_5281" align="aligncenter" width="200" caption="Certified HAFA Agent in Folsom"][/caption] HAFA Short Sales are beginning to finally work! As a Folsom and El Dorado Hills Short Sale Specialist, and Certified HAFA Specialist I frequently get asked "how do I get in the HAFA program?" or "How do I do HAFA?" "Is my loan eligible for HAFA?" "How do I find a HAFA certified agent in Folsom?" My answer is really simple, no matter who your bank is or what your situation is: Call Your Bank(s) and see if your loan(s) is/are HAFA Eligible- If you have a first and a second; both loans have to be eligible for HAFA... so if one does and one doesn't, it won't work... Want HAFA Information? Read HAFA Guide And...
Folsom Certified HAFA Agent Explains Benefits Of HAFA Short Sale
[caption id="" align="aligncenter" width="360" caption="Certified HAFA Specialists Are Trained To Close Your HAFA Short Sale"][/caption] Certified HAFA Specialist Designation So What are the HAFA Benefits? Folsom HAFA Certified Short Sale Agent and Folsom Expert HAFA Short Sale Negotiator Forth Hoyt Explains The Benefits Of HAFA Short Sales. Designed by the Administration and funded by the Treasury, The HAFA Program, which took effect April 5, 2010, provides servicer, seller and Investor (whoever actually owns the note) incentives. HAFA is supposed to benefit everyone involved in the HAFA Short Sale Negotions. You see, the HAFA Government Short Sale Program was created in the wake of a Failing HAMP loan modification program that only provides less than...
Who Do I Ask If I Can Do A Short Sale On My Folsom House?
[caption id="attachment_5153" align="aligncenter" width="400" caption=""Can I short sell my Folsom Home?""] [/caption] What if I have to move from Folsom and I'm upside down? Who can I ask about a short sale possibility? Is there someone in Folsom who can tell me if I can short sell my House? How do I find out if short sale is possible for my home in Folsom? As a Certified Short Sale Specialist and a Realtor who focuses on Folsom, El Dorado Hills, and the surrounding communities of Orangevale, Fair Oaks, Granite Bay, Mather, Rocklin, Roseville and even Natomas, Elk Grove and West Sacramento, I am constantly getting asked about the qualifications for a short sale. There is so much misunderstanding when it comes to how the banks...
How Important is the Hardship Letter? The Short Sale Hardhip Letter Sets The Stage
[caption id="attachment_5047" align="aligncenter" width="400" caption="Short, Sweet And To The Point- The Hardship Letter Summarizes and Explains The Sellers Situation"][/caption] As a Short Sale Agent in the Sacramento Area; I get this question all the time:The Hardship Letter- How important is it? Sacramento Certified Short Sale Specialist Forth Hoyt answers questions about short sale hardship letters and provides Example Hardship Letters. Some of the most frequently asked questions I get have to do with the Short sale Hardship Letter: "How do I write the best hardship letter?", " How much detail should I put in the hardship letter"? or "What is a Hardship Letter?" The simplest and quickest answer is that the hardship letter explains what caused the financial hardship and is like a...
New Anti Recourse Law SB 458 Extends Anti-Recourse Protections of SB 931 to Second Mortgages
Will I have To Pay My Lenders Back After A Short Sale? What Is The Short Sale Deficiency Law In California? Can My Second Lender Come After Me After A Short Sale In California? I Need To Do A Short Sale, What Are My Options? What Is The Newest Law Regarding Short Sales In California? What Happens To Second Mortgage on a Short Sale? What Is The Newest Law Regarding Short Sales In California? Report: Solving Your Mortgage Crisis Just Got Easier Here's a Video explaining California's new law from "The Short Sale Genius!" Forth Hoyt, Sacramento Certified Short Sale Specialist and Expert Short Sale Negotiator reports that California Law Now Stops Short Sale Recourse on second mortgages- Including All Claimants- Mortgage Insurance...
CAR Short Sale Addendum Form Reminds Us Short Sale Is Often Times Long sale!
Here's a Great article by Bob Hunt from Realty Times There is a sense in which the term short sale is a bit of a misnomer. That is because short sales often take a very long time. This is just one of the things that principals and their agents need to be aware of if they are intending to be involved in a short sale -- i.e. a sale in which the proceeds will be less than the balance owed on the mortgage loan(s). Recently, the California Association of Realtors® (CAR) published a Short Sale Addendum (SSA) that may be used with an offer or counter offer in a short sale situation. The addendum is...
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