Important information for Fresno homeowners thinking about a short sale. It’s only going to get worse in the coming years according to the Wall Street Journal. In a recent Wall Street Journal article , analysts from Amherst Securities projected a come back of over 7 million new foreclosures. Source: Shortsellit.com Which is 5.5 x’s the amount… Read More
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Fannie Mae Wants Short Sale Borrowers to Own Again
The first two question I always get when meeting with home owners trying to make the decision to short sale are; “How will a short sale affect my credit?” …and “When will I be able to buy another home?” When it comes to when they can buy another home, you should know that Fannie Mae wants homeowners… Read More
California Governor Signs Important Short Sale Bill
The California Senate passed SB306 today…Expediting the Short Sale process So the question is “what does this means to home owners and the Short Sale process. If the Realtor is working with an escrow officer who has prepared a HUD1 the Lenders or Service Companies must either deny a Short Sale offer in 4 days… Read More
CA’s Foreclosure Moratorium Has Ended — Now What?
Source: LBPost.com California’s moratorium on foreclosures ends today. The thought strikes fear in those in real estate, perhaps more so for the mystery it holds than for the threat of a flood of foreclosures swamping the market. “It’s hard to predict,” said Allison Van Wig, a Keller Williams Realty agent who moderated a panel Monday… Read More
Government Backed Short Sales Coming…Stream-Lined Short Sales!
As predicted well over a year ago…short sales would be the de-facto solution for mortgage servicers. It only makes sense. After all, in many cases people simply don’t want their homes because of their negative equity situation. Next step? I expect to see the government ‘encourage’ the servicers/ banks to outsource their short sales to… Read More
Can’t Afford Your House Payments?…Short Sale Your Fresno Home
It’s hard to believe that over 2 years have passed by since the Fresno, CA real estate market started to self destruct…The word Short Sale was not something that was heard often. Even President Obama is talking about them! Banks are overwhelmed with them and Fresno homeowners are starting to really understand the difference of… Read More
Ok, I Get It…A Short Sale May Be My Best Option…Tell Me More…
Excerpt: Should I Short Sale My Home – Chapter 3 By Jeremy Smiley, Realtor – London Properties A short sale is when a lender accepts a discount on a mortgage to avoid a possible foreclosure auction or bankruptcy. For example: A homeowner, who is facing foreclosure, has an existing first mortgage of $500,000. The market… Read More
