Short Sales Soar in California, Brentwood

A report in the Los Angeles Times points out that the volume of Short Sale transactions that are closing successfully is on the rise – primarily in California and the Sunbelt states. Short Sales in Brentwood have continued to make up a significant part of the market, and we are seeing more and more successful [...]

FNMA’s Stiff New Strategic Default Penalty

I wrote a couple of weeks ago that stiffer penalties were coming for borrowers who participated in a “strategic default” – now FNMA has made it official. Fannie Mae recently announced policy changes designed to encourage borrowers to work with their loan servicers and pursue alternatives to foreclosure.  Under the new policies, borrowers who strategically [...]

HAFA Program – Making Home Affordable Video

This is the place to start if you are struggling to make your mortgage payments. If you are looking for foreclosure alternatives, the new government sponsored Making Home Affordable program is the place to begin. Even if you are not yet late on your mortgage, you can receive help, and it’s totally free. Loan modification, [...]

Is a Short Sale Boom Coming?

A recent article from CNN Money suggests that a Shot Sale Boom is on the horizon. Banks are ramping up short sales thanks to government incentives and the realization that short sales result in lower losses than foreclosures. On average, banks lose 50 percent on a foreclosure, but only 30 percent on a short sale. [...]

CA D.R.E. Short Sale Consumer Warning

The California Department of Real Estate has issued a warning to consumers about fraudulent short sale practices. The document, which can be downloaded below, warns consumers to consult professionals for both legal and tax consequences, and makes clear the requirement for anyone involved in negotiating your short sale to have a valid real estate license. [...]

Beware the Latest Short Sale Scams

If you are a distressed homeowner considering a short sale, beware of new fraudulent schemes that could land you in a much more tenuous situation than you probably ever imagined. Agents and investors looking to play every possible angle in this market, are coming up with not-so-new schemes to defraud the banks and take advantage [...]

Short Sale Alternatives

Call me today to discuss how you can stop foreclosure on your home with the direct assignment method. This may be a viable foreclosure alternative for you if your home is in default and headed to foreclosure or if you are tired of waiting for the bank to approve your short sale. With a direct [...]

How to Get Your Short Sale Expedited

Thanks to Richard Gonzalez for posting this report from the California Association of Relators meetings on new Short Sale processes being adopted by Wells Fargo and Bank of America. If you’d like to talk more about doing an expedited short sale to avoid foreclosure, or any of your other foreclosure alternatives, don’t hesitate to drop [...]

The Case for Short Sales

Eli Tene from Peak Corporate Network makes the case for short sales and their benefits to sellers and lenders. The discussion also covers the so-called benefits of new short sale regulations being imposed by the Fed’s. It’s hard for me to find any fault with his logic. This is worth the 4 mins.