Welcome to the best source for short sale advice and short sale information in the Sacramento area! Like the Neville Brothers… I tell it like it is!
The problems with most Sacramento area short sale transactions are the extremely slow communication, processing, negotiating and approval of short sale files.
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The Hoyt Group’s Short Sale division has worked through many successful short sales in Folsom, El Dorado Hills, Elk Grove, Orangevale, Citrus Heights, Fair Oaks and Natomas, Roseville, Rocklin and nearly all other Sacramento area communities. Most have taken way longer than they should.
Banks are for the most part slow and disorganized. Even though their are several banks that have been really good to work with; Wachovia has been absolutely brilliant for a long time, Chase is becoming a breeze; Wells Fargo is getting things lined up, and now even Freddie Mac and Fannie Mae are pledging to help the Short Sale Process to become smoother. Some Bank of America short sales are are still challenging while others are quite quick and easy; with the new equator system, some communications and processing tasks happen almost instantly and others drag on for weeks and weeks. I am sure this is a situation of new systems, new training and new employees getting up to speed, hopefully to improve in the future.
As a Real Estate team, the Hoyt Group is dedicated to helping struggling homeowners by providing short sale education, homeowner short sale training and short sale help in all Sacramento area neighborhoods.
My Sacramento short sale advice.
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The “writing is on the wall” for 2010 to become the year that servicers, banks, institutions and secondary investors all get their act together to help make the short sale process more mainstream, less painful, confusing and stressful for buyers!
Over the last few years; often times, after Sacramento buyers have written offers on two, three, even four or more short sales without success, they just quit looking at short sales altogether and look for an REO or equity sale…
We will Surely look back at 2010 as the year the game changed… as more and more banks implement systems to make the Short Sale Process more streamlined, easier to manage and even transparent; more like traditional real estate transactions!
The new Equator Short Sale Processing Module (formerly known as REOtrans) has been launched as the industry’s first short sale processing online portal.
Although Equator has declined to name the lender, the new Internet based platform, as recently reported by the San Francisco Chronicle, will be used by Bank of America. A representative from BofA recently told the Chronicle that they were using the Equator platform to manage the short sale process. Great news, as Bank America is hands down the WORST bank to deal with on short sale files right now!
Read more about BofA -Countywide, IndyMac Loans Here.
The Short Sale platform will allow everyone involved in the transaction to work together, in real time with access to all documents, processing requests etc. and will be a huge asset in helping to shorten the time frames of short-sale approvals.
As reported in DSNews:
“This is the first time that short sales have been handled through an electronic platform,” said Equator CEOChris Saitta. “With our new system, everyone works together in real time, dramatically improving communication and approval timeliness for our client, its borrowers, vendors, and real estate agents.”
Just think– The short sale process becoming more like traditional real estate!
Contributed by sacramentorealestatetalk.com
Sacramento Short Sale Specialist Special Report
SACRAMENTO SHORT SALES TO IMPROVE IN 2010
Sacramento: Bank Of America Short Sale Help Is On The Way! BofA Implements The REOTrans Equator Short Sale Process Module.
Sacramento Short Sales are here to stay… and with more and more defaults and homeowners in foreclosure, short sales will become even more and more rampant in Sacramento.
Contact me today for Sacramento Short Sale Help!
If you are a buyer or a homeowner with questions about your options, Contact me today for Sacramento short sale help.
Are you in Folsom, Granite Bay, El Dorado Hills, Natomas, Roseville, Elk Grove, Mather, Lincoln, Rocklin, or any other Sacramento area? We really are here to help!
More Questions About your Situation? Talk To A Certified Foreclosure Prevention Expert Today!
Contact us Today At Forth Hoyt’s Sacramento Short Sale Center For short sale information in Sacramento County, Placer County and El Dorado County