Archive for the 'Short Sale Process 101' Category
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...
CDPE: Does Your Agent Specialize In Short Sales?
[caption id="attachment_5350" align="aligncenter" width="225" caption="CDPE's are trained to know the options designed to keep clients in their homes and out of foreclosure."][/caption] Does your agent specialize in Short Sales? Why would he? To understand the short Sale Process at a very high level! By Forth Hoyt CDPE, CRS, Certified HAFA Specialist,Dave Ramsey ELP, PFC, RDCPro, A-REO, SFR,SRES, e-PRO, And Master's Club Life Member. How did this happen? How did our housing sector get so messed up? Those of us who bought a home over the past five years or so, had no idea about the kind of economic upheaval that was going to follow. In fact, it appears that no one actually anticipated what was in store. But here we are. Nationwide, an estimated one...
CDPE Folsom Short Sale Specialist
[caption id="attachment_5342" align="aligncenter" width="200" caption="Short Sale Expert and Certified Distressed Property Expert Designation"][/caption] Need to ease the pain of an unstable and confusing real estate market? A Certified Distressed Property Expert® (CDPE) has a thorough understanding of complex issues in today’s turbulent real estate industry and knowledge of foreclosure avoidance options available to homeowners. CDPEs can provide solutions, specifically short sales, for homeowners facing market hardships. Homeowners regularly proceed without guidance of any kind through the often financially and emotionally devastating prospect of foreclosure. Speaking with a well-informed, Experienced licensed real estate professional is the best course of action for a...
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...
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...
Another Approved Folsom CA Short Sale! 948 John Murray Way Folsom
[caption id="attachment_5135" align="aligncenter" width="400" caption="948 John Murray Way Folsom Ca 95630"][/caption] Folsom Short Sale Agent and Multi Certified Folsom Short Sale Specialist Forth Hoyt Does it Again! Welcome Home! ...to this Wonderful Willow Springs home~within walking distance to Livermore Community Park~downstairs bedroom and bath~Separate family room~formal dining~Island kitchen~Inside laundry room~The oversized rear yard has been professionally landscaped with over 20 trees and rosebushes, a little TLC will make it shine again. As a Folsom Short Sale Specialist and Folsom Certified Short Sale Negotiator, I negotiate with the bank in order to get 'short sale approval' to sell your home for less than you owe. This process takes knowledge, experience, tenacity and skill as the short sale process...
Can My Second Loan Sue Me? Whats The New Law In California Regarding Short Sales?
[caption id="" align="alignnone" width="512" caption="Jerry Brown Signs Anti Deficiency Law For Junior Lienholders"][/caption] What Happens To Second Mortgage on a Short Sale? Can My Second Mortgage Come After Me After I Do A Short Sale? Will My Second Loan Try To Collect? Can My Lender Sue ME? Will I have To Pay My Lenders Back After A Short Sale? What Is The New Short Sale Deficiency law In California? How Can I Find The Best Short Sale Agent? What Is The New Law Regarding Short Sales In California? As a Sacramento Area Short Sale Specialist, Multi-Certified Short Sale Negotiator and Experienced Short Sale Agent, I must stay abreast of the continuous changes in California Foreclosure Law . I spend a large part...
Short Sale Agent Answers Many Short Sale Questions For Higher Priced El Dorado HillsSellers…
El Dorado Hills Multi-Certified Short Sale Specialist Forth Hoyt Short Sale Process and Transaction explained by El Dorado Hills Short Sale Specialist, Multi-Certified Short Sale Expert and Successful Short Sale Agent Forth Hoyt. The Short Sale Process is actually two transactions running side by side, more or less simultaneously. The first transaction is "real estate 101". This is the transaction between you, the El Dorado Hills Short Sale Seller and the short sale buyer. This transaction contains all the traditional real estate time-lines, disclosures and contingencies but also additional addendum's and disclosures; including the Short Sale Addendum, letting all parties know that, among other things, it is contingent upon third party approval. (the bank has to say...
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. As a Sacramento Area Short Sale Expert and Certified Short Sale Negotiator I am constantly getting questions about Short Sales from Sacramento area sellers Considering a Short Sale. 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...
Folsom Short Sale Specialist Explains The Short Sale and Answers Short Sale Questions
[caption id="attachment_5006" align="alignright" width="267" caption="Short Sale Files Are A Compilation Of Seller Information, Buyer Information and Information on the Offer "][/caption] Folsom Short Sale Specialist Forth Hoyt Answers more questions about short sales. I have completed nearly every Short Sale Certification and Designation class I have ever come across. I love to learn and I am driven to understand, share my knowledge and teach my clients and prospects. I closed my first short sale in 2007 and have now closed more short sales than nearly any other Short Sale Agent in the Folsom Area. I can truthfully say there is not a question about short sales I have come across in several months that I didn't know the answer for or at least...
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