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Sacramento Short Sale FAQ’s …Foreclosure or Short Sale?

Looking for HAFA Short Sale Information in Sacramento? The Sacramento Short Sale Center at  WereHereToHelp.org is Your Greatest Source For Sacramento Short Sale Info!

Sacramento Short Sale Specialist and Certified Sacramento Short Sale Expert Forth Hoyt Gives Sacramento Short Sale Help …Important Short Sale Training For Sacramento Homeowners deciding: Foreclosure or Short Sale?

The Sacramento real estate market is being overtaken by the “Short Sale”, however the more popular this term becomes, the more definitions “Short Sale” seems to take on.  As every short sale transaction is different, you need an agent with many, many years of experience, hundreds of hours of training and and many, many transactions under their belt to guide you through these ever-changing and sometimes challenging transactions. Welcome to Wereheretohelp.org – your easy access to a Sacramento Short Sale Specialist, With  Certified Short Sale Training. Our team is highly learning based and we spend many hours weekly in continuing education, collaborating with other high volume and very successful agents nationwide

Forth Hoyt, founder of WereHereToHelp.org and a Certified Short Sale Specialist, took the time to define “Short Sale” for you.  Just watch the video below to find out what a short sale really is.

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Now that you know what a short sale is, Contact us Today At Forth Hoyt’s Sacramento Short Sale Center to learn more.

New Government Foreclosure Prevention Program Eligibility- Which Programs Do You Qualify For?

Part of Forth Hoyt’s extensive short sale training he has received is the highly coveted Short Sale Designation: the Certified Distress Property Expert Designation.  Forth is one of the few agents in the Sacramento area with every highly recognized short sale training designations: CDPE, or Certifired Distressed Property Expert, the Pre-Foreclosure Certification, the SFR  Designation or Short Sale And Foreclosure Resource Designation; Which is the Only Short Sales and Foreclosure Resource Program given by the The National Association of Realtors.  Forth is a also a Certified Mortgage Resolution Specialist, and a Certified Home Retention Specialist ,

Enjoy the video below from Alex Charfrin, Founder ond CEO of the CDPE and also CEO of STAR POWER real estate systems.

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Now that you know what a short sale is, Contact us Today At Forth Hoyt’s Sacramento Short Sale Center to learn more.

New Government Foreclosure Prevention Program Eligibility- Which Programs Do You Qualify For?

Short Sale Processing Timelines are the same as Foreclosure Timelines

Understanding Short Sales in Sacramento Means Understanding Foreclosure in Sacramento:

CALIFORNIA FORECLOSURE TIME LINES ARE WHAT DRIVE  TIME LINES ON SHORT SALES!

Read on to understand California Foreclosure Timelines-

Foreclosure– how do you mean that?

Most of the time, Foreclosure means one of a couple of things; one is a process, as in “my Brother is in foreclosure”, or second, it can be an actual event: “that 4600 square foot home went for $243,000 at the foreclosure sale the other day…”

You see, foreclosure as a process means the three steps a bank or investor goes through to take a home or piece of property back; or it can be the actual trustee sale at Sacramento county trustee sale at 720 9TH ST  downtown Sacramento, held nearly every business day.

The legal Foreclosure Time-Lines in California have changed!

California added another 90 days

On February 20, 2009, Governor Schwarzenegger signed ABX2 7 and SBX27 that added  Section 2923.52-2923.55 to the Civil Code. These new laws providean additional 90 days  for borrowers who are presently facing foreclosure to work out loan modifications. This law went into effect June 15, 2009.

So an additional ninety (90) days have been added to the previous 90 day period that must pass after a Notice of Default has been recorded, before a Notice of Sale can be recorded. So instead of 90 days it is now 180 days, in order to allow all parties time to be contacted by the bank in  order to  pursue a loan modification. If a Notice of Trustee Sale had already been recorded prior to June 15, 2009, this provision will not apply. So the typical 90 day timeframe required between a Notice of Default and Notice of Sale has now been extended to 180 days in many cases.

So the timelines are now:

After you are 60 days past due on your mortgage payment, (or 90 days since your last payment), the bank can file a notice of default:

Then, 180 days (used to be 90 days) after that, the Notice of Trustee Sale can be filed. No earlier than 20 days later, the Trustee Sale can be held-

So; the Fastest the foreclosure process can proceed by law:

60 days late = Notice of default

180 days = Notice of Trustee Sale (Used to be 90 Days)

21 days= Trustee sale

Most banks and servicers are being very slow to file the initial Notice of Default– almost all wait over six months. The Notice of Trustee Sale may take up to a year after the Notice of Default is filed. Even after the Notice of Trustee Sale is filed, the banks/sevicers are now re-scheduling over 3/4 of the Trustee Sales, many for an additional 30, 60,or 90 days initially and then rescheduling again if they have made contact with the homeowner and there is any hope of a loan modification or short sale. They don’t want any more foreclosures unless it is clear there is no foreclosure solution. The writing is on the wall: Less foreclosures and more short sales for 2010 and beyond!