Stop Foreclosure Institute of Santa Rosa Assisting Homeowners in Distress

Santa Rosa CA – I read a blog post by another agent the other day. He had a long story about a short sale that he worked on that was so difficult. He said the lender sent him a form on Friday.

On Friday afternoon they demanded that he send them back a form signed and notarized by the sellers. He sent it back to them on Saturday.

On Monday they closed the short sale file because they hadn’t received the form within 24 hours. Apparently they didn’t check their faxes over the weekend.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

According to the story the agent just resubmitted the short sale file and waited another 60 days for the short sale file to be processed. It appears that this agent let the short sale lender push him around.

But, why waste 60 days because of the short sale lender’s unreasonable demands? Why put your home sellers at further risk of losing their home to foreclosure?

The short sale lender should have re-opened that file right away. And they would have if the agent had held them accountable for their actions.

The bottom line is that this agent let the short sale lender dictate everything to him. He allowed them to have all the power. He never stood up for himself.

Now, I’m sure you are wondering how this agent could have stood up for themselves. Here is the simple way to do it. It all goes back to who owns the loan. A little known fact is that 80% of all loans are not owned by the banks themselves.

Most of them are owned by Uncle Sam or an unknown third party. In this situation you find out who owns the loan and contact them directly. I’ve posted on this blog instructions on how to find the owner of the loan.

Then, you tell the owner what is happening. But, you have to make your case. Remember, these loan owners only care about the economics.

They don’t care about a sob story about how the lenders are mean and your feelings go hurt. They only care about how it affects their bottom line. That is how you make your case.

Here is an example of what you say to them. “In October we received an offer on this short sale for $356,000. We submitted it to the ABC Bank, who is handling the loan. They were very difficult to work with.

They would not give us an answer on the offer for 68 days. In that time, the buyer canceled their offer. We put the home back on the market. Another buyer made an offer for $347,000.

We submitted that offer to the short sale lender. It’s been the same problem.” Next I would go into detail on how they canceled the short sale process for no reason.

Then, I would detail how much money I estimated this loan owner lost as a result of the lender’s actions. In this example, it is probably $11,000. That is the reduction in the sales price and lost interest income and other costs.

After you inform the loan owner of what is happening, then they will contact the lender and ask them to do a better job. There are more things you can do, but this is a start.

Tomorrow I’ll explain what to do when the loan is owned by the actual lender. The strategy is a little different. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at winecountryre@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (707)548-1736

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Santa Rosa loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Daphne Peterson.

Daphne is a Real Estate Broker-Associate at The Samson Group. Santa Rosa Short Sales Realtor:

Phone: (707)548-1736. winecountryre@gmail.com.

View My homes for sale

Daphne Peterson specializes in loan modification assistance and short sales in Santa Rosa California. Santa RosaLoan Modification Help, Santa Rosa Short Sales. Santa Rosa Short Sale Realtor. Santa Rosa CA Short Sales. Santa Rosa Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Daphne Peterson, The Samson Group, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Daphne’s personal views and do not reflect the views of The Samson Group.

This information on Are Santa Rosa Short Sales Really A Nightmare? is provided as a courtesy to our viewers to help them make informed decisions.

Santa Rosa CA – We recently closed another short sale. This short sale lender was so much more fund to work with than most lenders. The loan was owned by Household Finance, which is a division of the international lender HSBC.

We were assigned a short sale negotiator about 30 days after we submitted the short sale application. The short sale negotiator responded to us quickly.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

If we sent her an email, then we received a reply within a day or two. Contrast that with waiting for a week or more for a reply to an email with other lenders.

The short sale negotiators at the big national lenders often take a week or more to reply to an email or voicemail. Now, I am sure you are wondering why this is happening?

Why can’t the big national banks do a better job on short sale? Here is what I think. I have noticed one big difference between the loans that the big US based banks have and the loans that HSBC has.

HSBC owns their loans. If they don’t handle short sale negotiations properly and lose money as a result, then that affects their bottom line. HSBC stands to make or lose money as a result of their actions.

Contrast this with the large us based banks. One large national US bank does not own 80% of the loans they handle. Who cares if things are being handled properly?

It’s no big deal when a short sale is denied and sells for 40k less a foreclosure. They aren’t losing the money. Someone else is. The sad thing is that usually that person is Uncle Sam.

This is because Uncle Sam owns or insures about 65-70% of all the mortgages in America. Fannie Mae and Freddie Mac own about 55% of all US mortgages.

The rest are insured against loss thru FHA, USDA, and VA. If an FHA loan goes bad, then FHA takes the loss. Many experts are saying that FHA will need a bailout soon.

They estimate that FHA could lose up to 50 billion in coming years. This means people buying a home today will pay more for an FHA loan.

Uncle Sam may have to bail them out. The big national banks could do a better job ad short sales and other aspects of loss mitigations.

That would substantially reduce the losses on bad loans and help Uncle Sam avoid another bailout. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at winecountryre@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (707)548-1736

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Santa Rosa loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Daphne Peterson.

Daphne is a Real Estate Broker-Associate at The Samson Group. Santa Rosa Short Sales Realtor:

Phone: (707)548-1736. winecountryre@gmail.com.

View My homes for sale

Daphne Peterson specializes in loan modification assistance and short sales in Santa Rosa California. Santa RosaLoan Modification Help, Santa Rosa Short Sales. Santa Rosa Short Sale Realtor. Santa Rosa CA Short Sales. Santa Rosa Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Daphne Peterson, The Samson Group, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Daphne’s personal views and do not reflect the views of The Samson Group.

This information on One Lender That Is Fun To Work With On Santa Rosa Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

Santa Rosa CA – A person recently asked me about how the banks foreclose on properties with a tenant living in it.

“Why would a bank go to the trouble of a foreclosure if there is already a tenant in the house paying them?”, they asked me. That’s an interesting question.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

I think that the reason this happens is because the banks are not in the real estate business. They don’t want to deal with collecting rents, handling evictions, and all the other work associated with rental properties.

They just don’t have the infrastructure in place to deal with that. I think the other reason is because there are federal banking laws that prohibit banks from owning investment property.

If the banks were allowed to own rental property, then they would be more inclined to foreclose on homes. Because of this the banks don’t want to own a home with a tenant.

They want to foreclose on the house, sell it, get their money back, and lend that money to someone else. That is why the foreclose on tenant occupied homes. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at winecountryre@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (707)548-1736

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Santa Rosa loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Daphne Peterson.

Daphne is a Real Estate Broker-Associate at The Samson Group. Santa Rosa Short Sales Realtor:

Phone: (707)548-1736. winecountryre@gmail.com.

View My homes for sale

Daphne Peterson specializes in loan modification assistance and short sales in Santa Rosa California. Santa RosaLoan Modification Help, Santa Rosa Short Sales. Santa Rosa Short Sale Realtor. Santa Rosa CA Short Sales. Santa Rosa Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Daphne Peterson, The Samson Group, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Daphne’s personal views and do not reflect the views of The Samson Group.

This information on Why Are Some Santa Rosa Foreclosures and Short Sales Being Sold With Tenants Still In The Property? is provided as a courtesy to our viewers to help them make informed decisions.

Santa Rosa CA – Here is a success story on a short sale that the Stop Foreclosure Institute worked on for a long time. This was a very difficult short sale and it dragged out for over a year.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

The reason that this short sale drug out for such a long time is because the short sale lender thought that the house was worth more than its actual value.

Imagine that you were a bank losing hundreds of thousands of dollars on a loan. You hire an appraiser and he says the house is worth 380k. Would you accept a short sale offer for 275k? No!

We had the home on the market for six months and 275k was the highest price any buyer was willing to pay. Here is why there was such a big discrepancy between what a buyer was willing to pay and what an appraiser thought the house was worth.

The house was located in the country about 12 miles outside of town. Most people will pay more for a house that is located closer to town. Three miles to the East of this house was an upscale area of luxury homes.

Most of these homes were located in well maintained, gated communities. The person who appraised this home used those homes as comparable sales for the appraisal.

But, it gets worse. This home had no garage and was located down about a mile of dirt road and surrounded by lower priced homes. The comparable sales the appraiser used were an apples to oranges comparison.

That was why the home was not selling for what the bank thought it was worth. We submitted two different short sale packages over the course of 9 months.

Both times the bank told us they wouldn’t approve the short sale because they thought the home was selling for less than it was worth.

We finally lucked out on the third short sale offer. This time the home appraised at an accurate value and the bank approved the short sale. However, the home had declined in value over the past year.

It sold for 235k. Yep, that’s correct. The bank lost over 40k because they used inaccurate appraisal data to make a decision on the short sale.

The motto of this story is that most short sale problems can be solved with time and persistence. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at winecountryre@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (707)548-1736

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Santa Rosa loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Daphne Peterson.

Daphne is a Real Estate Broker-Associate at The Samson Group. Santa Rosa Short Sales Realtor:

Phone: (707)548-1736. winecountryre@gmail.com.

View My homes for sale

Daphne Peterson specializes in loan modification assistance and short sales in Santa Rosa California. Santa RosaLoan Modification Help, Santa Rosa Short Sales. Santa Rosa Short Sale Realtor. Santa Rosa CA Short Sales. Santa Rosa Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Daphne Peterson, The Samson Group, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Daphne’s personal views and do not reflect the views of The Samson Group.

This information on Santa Rosa Short Sales: How We Overcame The Odds To Make This Short Sale A Success is provided as a courtesy to our viewers to help them make informed decisions.

Santa Rosa CA – Here is a success story about a short sale that the Stop Foreclosure Institute worked on. We recently closed this short sale and helped the seller avoid a big deficiency judgment.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Ed & Cathy bought their house at the top of the market in 2005. It had dropped in value and they couldn’t afford the mortgage payment anymore.

We listed the home and started the short sale negotiations with the lender. The lender was a credit union. They were losing about $110,000 on the short sale.

They told us that they wouldn’t approve the short sale unless the seller’s signed a promissory note and agreed to repay them for the loss. We discussed this with the sellers.

They weren’t not willing to accept the promissory note. They had experienced a substantial reduction in income and did not see any way they could repay the debt.

The bank wanted them to repay $726 monthly for the next 20 years. That may not sound like a lot of money to some of us. But, to Ed & Cathy, it was much more than they could afford.

The sellers told us that if they had no other choice, then they would agree to the promissory note and then declare bankruptcy when the bank tried to collect.

We agreed that that was an option. But, we also thought that the bank was being unreasonable. We explained the situation and asked them to approve the short sale and forgive the debt.

Our contact at the bank wouldn’t do that. We continued to sell him on it. We explained that this was the best opportunity for the credit union to reduce their losses on this loan.

We explained that the only other option was to wait another 6-12 months for the foreclosure case to go thru and then sell the home. However, we estimated that would cause the lender to lose an additional $20,000 to $30,000.

They would lose more if the seller declared bankruptcy and the foreclosure case dragged on even longer. Finally, our contact agreed to approve the short sale and forgive the debt.

The home sellers were able to short sale and move on with their life with no deficiency or promissory note. Remember, it is a rare situation where a lender will not approve a short sale and forgive the loan.

But, this is an example of how a good short sale realtor can help you avoid a deficiency even if the lender does not want to forgive the debt. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at winecountryre@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (707)548-1736

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Santa Rosa loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Daphne Peterson.

Daphne is a Real Estate Broker-Associate at The Samson Group. Santa Rosa Short Sales Realtor:

Phone: (707)548-1736. winecountryre@gmail.com.

View My homes for sale

Daphne Peterson specializes in loan modification assistance and short sales in Santa Rosa California. Santa RosaLoan Modification Help, Santa Rosa Short Sales. Santa Rosa Short Sale Realtor. Santa Rosa CA Short Sales. Santa Rosa Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Daphne Peterson, The Samson Group, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Daphne’s personal views and do not reflect the views of The Samson Group.

This information on Santa Rosa Short Sales: A Short Sale Success Story is provided as a courtesy to our viewers to help them make informed decisions.

Santa Rosa CA – The Stop Foreclosure Institute recently received an email from Elaina. Here is what she had to say.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

“Hi, I am a Real Estate Agent. You have some good information on short sales. But, is it written assuming that banks actually want to do short sales.

I have worked on a particular short sale with a large national bank. We started on it seven months ago. They sent out an appraiser a couple of months ago.

Then, they said they were transferring the file over to a third party short sale negotiating company. Now, we have to start the process at the beginning with this new short sale processor.

What can I do to get the process moving along. It seems to me like the banks do not want to work with us on a short sale. Elaina.”

Here was our answer to Elaina’s Question. Banks do like to do short sales. The problem is that some banks are overwhelmed with so many short sale and loan modification applications.

Here is why the banks prefer a short sale to a foreclosure. They have learned from past experience that a short sale dramatically reduces their losses compared to a foreclosure.

They know that a short sale is sold 6-12 months sooner than they can sell a house. Short Sale Homes usually sell for more money than a foreclosure.

In addition, they are able to reduce a lot of costs associated with a foreclosure. Those costs include legal fees, court fees, interest, property taxes, and a lot of other costs.

This helps out their bottom line. So although it may seem like they don’t like short sales, the truth is that they do. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at winecountryre@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (707)548-1736

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Santa Rosa loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Daphne Peterson.

Daphne is a Real Estate Broker-Associate at The Samson Group. Santa Rosa Short Sales Realtor:

Phone: (707)548-1736. winecountryre@gmail.com.

View My homes for sale

Daphne Peterson specializes in loan modification assistance and short sales in Santa Rosa California. Santa RosaLoan Modification Help, Santa Rosa Short Sales. Santa Rosa Short Sale Realtor. Santa Rosa CA Short Sales. Santa Rosa Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Daphne Peterson, The Samson Group, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Daphne’s personal views and do not reflect the views of The Samson Group.

This information on Do Banks Want To Do Santa Rosa Short Sales? is provided as a courtesy to our viewers to help them make informed decisions.

Santa Rosa CA – The Stop Foreclosure Institute recently received a question from Brad. Here was his question.

“I made an offer to buy a short sale about 4 months ago. I have heard nothing except that they are going to re-submit the short sale paperwork to the lender.

I am very frustrated. Is there anything I can do on my end to try to push the process along, or is it all up to the agent? Please help! Brad.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to Brad’s Question. It is up to the agent. When you say they are going to re-submit the paperwork it makes me think that something is very wrong.

It take 90 days max to get a yes or no answer on a short sale offer. Someone hasn’t been following up with the lender. I have found that if you don’t call the lender, then nothing happens with the short sale file.

They agent has to “push” the file along. The bank won’t “push” it as they have more files than they can handle. Bottom Line: I would find another house.

Even if you wait it out, you should always be on the lookout for another home to buy. Maybe one where the agent has experience with short sales. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at winecountryre@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (707)548-1736

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Santa Rosa loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Daphne Peterson.

Daphne is a Real Estate Broker-Associate at The Samson Group. Santa Rosa Short Sales Realtor:

Phone: (707)548-1736. winecountryre@gmail.com.

View My homes for sale

Daphne Peterson specializes in loan modification assistance and short sales in Santa Rosa California. Santa RosaLoan Modification Help, Santa Rosa Short Sales. Santa Rosa Short Sale Realtor. Santa Rosa CA Short Sales. Santa Rosa Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Daphne Peterson, The Samson Group, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Daphne’s personal views and do not reflect the views of The Samson Group.

This information on Santa Rosa Short Sales: How Can I Get An Answer On My Offer? is provided as a courtesy to our viewers to help them make informed decisions.

Santa Rosa CA – Yesterday we discussed how to avoid getting into a jam on short sale negotiations when there is two mortgages on the property.

We received a question from another agent on short sale negotiations. Here was their email.

“I have been working on a file with two mortgage. The second mortgage wants $7,500 or they won’t approve the short sale.

The first mortgage will approve the short sale, but they aren’t willing to pay the second mortgage a dime. The sellers live elsewhere and do not want to pay anything.

What do you suggest beyond contacting the negotiators and “escalating the short sale file”? Diane.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to Diane’s Question. The good news is that the second mortgage responded fast. You need to convince them to accept a lower payoff.

Here are a few general rules with 1st and 2nd mortgage negotiations.

Rule #1: Most first mortgages will pay the second mortgage 10% of the total amount owed. So, get the second mortgage to give you a payoff.

Then ask the first to allow the second mortgage to get paid 10% of their total.

Rule #2: Fannie and Freddie will only allow $3,000 to second mortgages on a short sale. It doesn’t matter how little or much they are owed.

This loan is probably owned by the first mortgage company. Their short sale policies vary all over the place. Here is what I would do from here.

First, get the second mortgage to accept less down, unless they are asking for 10%. Then, escalate the file at the first mortgage. You may have to escalate both files.

The first mortgage not paying the second mortgage a dime it really stupid. The negotiator may think they are smart because they negotiate hard. Good for them.

They are actually stupid, because they are losing money. Send them the example below about another stupid lender that negotiated to hard and lost $50,000. Here is the story.

We met some buyers at one of an open house. they told us they were buying a house for 272k.

We had a house for sale two doors down from the house they had made an offer on. The house they were looking to buy was a short sale. They mentioned that the short sale had drug out for months.

Something about 3 mortgages and the junior mortgages were hard to work with. We talked to them a couple months later to see if they would consider our listing. They wanted to wait it out for the other house.

The house ended up selling for 225k after those buyers had walked. That’s a big loss for the short sale lender. Show those numbers to the first mortgage and ask them to reconsider paying the second mortgage. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at winecountryre@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (707)548-1736

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Santa Rosa loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Daphne Peterson.

Daphne is a Real Estate Broker-Associate at The Samson Group. Santa Rosa Short Sales Realtor:

Phone: (707)548-1736. winecountryre@gmail.com.

View My homes for sale

Daphne Peterson specializes in loan modification assistance and short sales in Santa Rosa California. Santa RosaLoan Modification Help, Santa Rosa Short Sales. Santa Rosa Short Sale Realtor. Santa Rosa CA Short Sales. Santa Rosa Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Daphne Peterson, The Samson Group, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Daphne’s personal views and do not reflect the views of The Samson Group.

This information on How To Get Out Of A Jam On Second Mortgage Negotiations On Santa Rosa Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

Santa Rosa CA – We received a question from another agent on short sale negotiations. Here was their email.

“I am having a problem on a short sale and would like to know how to avoid it next time. The first mortgage gave me a price and a net they would allow.

The home sold for enough money to get them the price and their minimum net they said they had to have. We put together the closing statement with the first receiving what they wanted and the second mortgage receiving $9,600.

The second had asked for $15,000 and are saying that they won’t accept less than that. Any suggestions on this one? What would have been a better approach? Maybe offer the 2nd a smaller amount to start?

I used the same HUD to present to both, getting the firsts approval first. Please advise. Bonnie.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to Bonnie’s Question. Here is what I would do to avoid this in the future. Put together two separate closing statements, one for each MTG company.

The first mortgage would see a proposed closing statement with $20,000 going to the second mortgage. Meanwhile the second mortgage would get a proposed closing statement with them receiving $3,000 and the rest going to the first mortgage.

Obviously they are going to get the same HUD at closing. But, you start negotiations with each mortgage company thinking that the other mortgage company is getting a huge sum.

You meet in the with the final closing statement. They will both be happy because they are getting more than they had originally expected. Now, what can you do now to close this short sale?

This second mortgage negotiator is being a little unreasonable. Most second mortgages only receive $3,000 normally. They should be more than happy receiving $9,600.

Remind them that they get zero in a foreclosure. Show them the docket status for the foreclosure case. If the house is close to foreclosure, then you gain more negotiating power.

Another thing to do is get both of the negotiators on the phone. Have them hash it out between each other. That worked for us on a deal before and it might work for you too. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at winecountryre@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (707)548-1736

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Santa Rosa loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Daphne Peterson.

Daphne is a Real Estate Broker-Associate at The Samson Group. Santa Rosa Short Sales Realtor:

Phone: (707)548-1736. winecountryre@gmail.com.

View My homes for sale

Daphne Peterson specializes in loan modification assistance and short sales in Santa Rosa California. Santa RosaLoan Modification Help, Santa Rosa Short Sales. Santa Rosa Short Sale Realtor. Santa Rosa CA Short Sales. Santa Rosa Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Daphne Peterson, The Samson Group, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Daphne’s personal views and do not reflect the views of The Samson Group.

This information on How To Avoid Getting Into A Jam With Second Mortgage Negotiations On Santa Rosa Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

Santa Rosa CA – I am so sick of the incompetence and arrogance of people in the banking industry! It seems like the incompetence never ends.

We had a short sale closing last week. The underwriter for the buyer’s lender didn’t like the way the short sale approval letter was worded. They wouldn’t approve the loan until the short sale approval letter was changed.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

We called up the short sale lender. They said they wouldn’t make the change. The buyer’s lender said the deal was dead. The problem is that how the short sale approval is written makes no difference to them.

Most title companies have millions of dollars in reserves to solve title problems. The title policy states and guarantees the title, no matter what the short sale approval letter says.

They guarantee that if any problem arises they will write a check and solve the problem. That’s why you order title insurance! Apparently this underwriter thought their job duties required them to do the title company’s job as well.

We finally called the CEO of the buyer’s lender. We told them that they were out of line. We told them that realtors and home sellers can’t just make unrealistic demands.

What if a home seller demanded, “I want to make sure all funds brought to closing have never been laundered or used in the drug trade. We also want the money to be backed by gold.”

You and I know that is not going to happen. I am forced to deal with incompetence and power trips with short sale lenders. I sure am not going to put up with it when I’m the customer.

Fortunately, our argument with the CEO’s office worked. They realized that they were in the wrong and made an exception for this sale. What is your opinion on this?

Do you think that the lender in this situation is out of line? Would you recommend that we not refer loans to them? Enter your comments below. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at winecountryre@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (707)548-1736

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Santa Rosa loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Daphne Peterson.

Daphne is a Real Estate Broker-Associate at The Samson Group. Santa Rosa Short Sales Realtor:

Phone: (707)548-1736. winecountryre@gmail.com.

View My homes for sale

Daphne Peterson specializes in loan modification assistance and short sales in Santa Rosa California. Santa RosaLoan Modification Help, Santa Rosa Short Sales. Santa Rosa Short Sale Realtor. Santa Rosa CA Short Sales. Santa Rosa Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Daphne Peterson, The Samson Group, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Daphne’s personal views and do not reflect the views of The Samson Group.

This information on A Rant About Lender Incompetence On Santa Rosa Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

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