Tuesday, August 30, 2011

Pasadena Short Sales FAQ s

Pasadena Short Sales FAQ- 1-What is a Short Sale? A short sale is when the sale of a homes net proceeds do not fully pay off the existing mortgage loan(s) and the Lender is willing to accept a discounted payoff. The closing costs that are typically paid by the Seller are paid out of the proceeds from the sale, including but not limited to, commissions, escrow and title fees and any negotiated Buyer’s cost. Your home is sold and you avoid foreclosure.

Pasadena Short Sales FAQ- 2-Why would my lender accept less than what is owed on my mortgage? Lenders are in business to lend money, not to own real estate. They do not want the expense of the foreclosure process and/or the holding and maintaining of the property if it does not sell at foreclosure. The foreclosure process is very expensive and time consuming, so many lenders will agree to what seems a loss on the mortgage when they will actually save money by not completing the foreclosure and holding the property in their portfolio.

Pasadena Short Sales FAQ- 3-If I do a Short Sale, how much will I have to pay to sell my home? In most cases, you will not pay any sales costs if your Lender approves the Short Sale. All commissions, title and escrow fees, and some repair expenses are paid by the Lender, Investor or Mortgage Insurance company, if applicable, as part of the Short Sale approval.

Pasadena Short Sales FAQ-4- How do I get started on a Short Sale? It’s easy! If you would like to see if you qualify for a Short Sale, give us a call at 626-376-9732. We will work with your Lender to get the process started.

Pasadena Short Sales FAQ-5- Can I simply deed my property to someone else and avoid the hassle? Deeding your property to someone without paying off the mortgage loan does not forgive you of the debt, and the property is still encumbered by a lien. Always check with your attorney to verify all the options available to you.

Pasadena Short Sales FAQ- 6-What sort of hardship would my lender consider legitimate? To some extent, that will depend upon the Lender considering your Short Sale request.

Below you will find a list of common “hardships” that may be accepted by Mortgage Servicers:
Family illness or injury
Job relocation
Job loss or significant income loss
Divorce or split of domestic partners
Death of a spouse
Adjustment in mortgage payment or unforeseen increase in living expenses
Too much debt
Military service

Pasadena Short Sales FAQ- 7-I am current on my mortgage, so will my Lender consider a Short Sale? The answer is, maybe. Some Lenders will consider a Short Sale offer on mortgage loans that are not delinquent. Other lenders will not consider a Short Sale offer until the loan is delinquent. We will work with you to put your Short Sale offer together and submit it for approval (remember, there is no charge for this). That is the best way to determine if your Lender will accept a Short Sale offer on a loan that is current.

Pasadena Short Sales FAQ-8- Do lenders approve all Short Sales? No. That is why it is critical to work with someone, that has extensive experience at getting Short Sales approved and has direct contact with Mortgage Servicers.

Pasadena Short Sales FAQ-9- I have a second mortgage on my property, so can I still do a Short Sale? Yes. We can also work with the Mortgage Servicer or lender that holds the second mortgage, (many times the same Mortgage Servicer holds the 1st and the 2nd loans) to put together a Short Sale transaction. It is very important however, that you let us know if you have a second mortgage, home equity line of credit (HELOC), or any type of lien against your property such as a Home Owners Association lien, tax lien or mechanics lien.

Pasadena Short Sales FAQ-10- My property is in rough shape and needs work; can I still do a Short Sale? Absolutely, Lenders often take into consideration repair costs, as a factor, when determining whether to approve aHome Short Sale offer. I am concerned about my credit, so how will a Short Sale affect my credit? The goal is to avoid foreclosure. Consult your attorney to verify how this may affect your credit.

Pasadena Short Sales FAQ- 11-Can I receive cash from a Short Sale? No,Home Short Sales are only designed to get you out of your mortgage debt rather than going through the entire foreclosure process. It is not a refinance option and you will be vacating the property, as you would, if you were going through foreclosure.

Pasadena Short Sales FAQ-12- What if my home is not worth what I purchased it for? This is the typical scenario for a short sale, when you can only sale it for less than it is currently worth.

Pasadena Short Sales FAQ- 12-How much will it cost me to use you as a Realtor? There are no costs to the Seller or Buyer for using us.

Pasadena Short Sales FAQ-13-What if I have filed bankruptcy?-You will need to check with your Bankruptcy Attorney to verify if you can proceed with a Short Sale.

Pasadena Short Sales FAQ-14-How is a Pasadena short sale different from anywhere else? Pasadena short sales require a little extra attention not necessarily because of the lender involved that must forgive the balance but because of city reports and inspections that must be done before the transfer of the property to the next buyer. Other than that, Pasadena short sales are pretty similar to any other short sale in Los Angeles.

Should I short sale?

Should I short sale? This is a question on top of the minds of many homeowners that are in over their heads in debt and their properties are no longer worth what they owe on their home.

Here are some questions I ask sellers when they ask me: Should I short sale?

Do you want to avoid foreclosure?
Have you lost your job or seen a significant reduction in your pay?
Do you have any medical conditions that are preventing you from working or creating a financial burden?
Is the interest rate on your loan ballooning and making your payments out of reach?
Have you exhausted all efforts to modify your loan?
Has your partner or spouse passed away?
Has your job or other circumstanced required you to relocate to another city or state?
Are you concerned with your credit score?

Avoiding foreclosure is usually the motivating factor for homeowners who are upside down on their loans. Their main concern (and rightly so) is avoiding the huge hit to their credit score that a foreclosure vs. short sale would entail. Short sales typically take a smaller “hit” to the FICO score v erses foreclosure.

Make sure though before you consider the short sale process that you can provide to your lender a genuine “hardship”. If you answered yes to any of the questions 2-7 then there’s a good chance you qualify for a short sale.

Are there short sale benefits? Sure there are, here are a few:

Less of a hit on the credit score.
HAFA offers $3k in relocation expenses.
Avoid foreclosure.
Peace of mind.
A fresh start.
Faster credit recovery means you can buy again sooner.

Should I short sale? It’s a tough question to ask oneself. But having clarity of where you stand and then taking action to put you and your credit score back on the right track will give you peace of mind.

How to short sale

green question mark How to short sale your home. While a Short Sale is and excellent option for home owners that want to avoid foreclosure, it is by no means a “short” process nor is it something that can be done by yourself. You must enlist the expertise of a short sale listing agent.

Why is that? The lender who holds the loan on the property will require that you list with a Realtor or the short sale will not be processed. Lenders do not will allow sellers to represent themselves in a short sale, the liability is way too high. A short sale real estate agent will know how to short sale your home. They will have the required disclosures and the cutting edge marketing tools available to market your home and bring a buyer that is willing to wait out the short sale process. The short sale listing agent will also have the know how to deal with bank asset managers, and other players that will eventually become involved in the short sale transaction.

**Avoid companies that say they know how to short sale and require you give any amount of money to start the short sale process or begin negotiation with your lender. This is NOT necessary to secure representation. Just don’t do it!

So now that you know it’s not You who needs to know how to short sale, here’s what you DO need to know.

Before considering a short sale you must first determine if you qualify for A Short Sale by asking yourself Do I pass the Hard Ship Test?

Here are just a few examples of Hardship.

Loss of Job
Becoming disabled
Divorce
Death of a spouse

Click here to learn more about Hardship For Short sale

By the way, a good short sale agent will walk you through the hardship means test so don’t worry if any of this seems overwhelming.

If you believe you pass the Hardship Test, it is most likely time to proceed with the Process of a short Sale.

It is now time to contact a short sale listing agent who will quickly be able to confirm if indeed you qualify for a Short Sale.

Once that is established, your short sale Realtor will know how to short sale your home and begin the Listing Process and guide you through the following steps:

Put your Hardship Letter together
With your permission to contact your lender, your short sale listing agent will negotiate on your behalf and determine what you owe to date.
After they determine the market value, they will set a listing price and your home will be listed and Marketed on the MLS.
Once Offer is received and you have approved the offer, your short sale listing agent will negotiate with your lender for their approval of the short sale.
Once Short Sale is approved by lender, the escrow process begins.
After all parties meet their obligations escrow is closed and the short sale is successfully closed.
You may now start rebuilding your life and credit!

More questions or need a short sale listing agent that knows how to short sale your home? Give us a call at 877-636-0444 or follow this link and visit us here. If we can’t help you in your area we will help you find a good short sale Realtor in your area that can!

Copyright Â© 2011 By Stephen Munson & Luis Montejano, Munson Realty-Southern California Real Estate *How to short sale-How to short sale, short sale, short sale listing agent,short sale realtor,short sale process*

SB 458-Excellent news for California homeowners who must short sale their home

SB 458

SB 458-Excellent news for California homeowners who must short sale their home

Kudos to California Governor Jerry Brown for signing SB 458 (Corbett) into law protecting California homeowners who must short sale their home from lenders pursuing them after the short sale closes.

What does SB 458 mean for you California homeowner?

In the past…

Under previous law (SB 931 of 2010), while a first mortgage holder (if you have two loans, this is usually the larger of the two) may accept a short sale as full payment for the outstanding balance of the loan, the rule did not apply to junior lien holders (the smaller of the two loans).

But now thanks to SB 458 …

When lender has agreed to a short sale on a home, SB 458 insures that all lien holders (the first and second loans) must consider the outstanding balance as completely paid off and the short seller (homeowner) will not be held responsible for any future payments on the home.

According to the California Association of Realtors, SB458 contains an “urgency clause” making it effective upon signing.

SB 458 is another huge step in streamlining the short sale process and helping underwater homeowners take positive steps in their financial and emotional recovery.

Need short sale help now? Give us a call at 877-636-0444 or Visit us here.

FHA Approved-Finding FHA approved condos & FHA approved homes LA

FHA Approved-Finding FHA approved condos & FHA approved homes Los Angeles

What a great Loan program FHA is, you can get into a home with as little as 3.5% down and have the seller pay your closing cost!

But of course, FHA is one of the most challenging loans when it comes to actually finding FHA Approved homes & FHA approved condos and then getting the seller to accept your offer.

Believe me I know the challenges of finding properties that are FHA approved. Ninety percent of my current buyers are utilizing FHA loans. But I will tell you this; they are typically in escrow within 4 weeks, mostly within 2 weeks! The bottom line is, DON'T GIVE UP on finding FHA approved homes and condos.

So what's the challenge with FHA?

• Finding homes that are FHA approved (not all are)
• Finding Sellers that will accept your FHA offer (many are unfamiliar and don't have savvy agents guiding them)
• Too many search sources (paralysis by analysis)
• Buyers agents not skilled or savvy with finding FHA approved properties (or just lazy)
• Lack of focus on what you want!

What the solutions in finding FHA approved homes and condos?

• Have a clear Vision of what you want! Of course it must fit within your budget and be obtainable but you and your agent must be very clear of what will make you happy!
• In truth, finding out if the Home, Condo or Town Home is FHA approved is ultimately your agents job.

• Use ONE search tool that is direct access to the local MLS. I give my buyers access to my MLS account so they are seeing what I am seeing that is the most 100% accurate and updated. I give them this MLS search.
• The only solution to a "lazy or un-savvy" agent is to either let them know your concerns and get them to make a shift in their business practice towards you or find someone who understands the "ins and outs" of findind FHA approved properties, enjoys the challenge and NEVER GIVES UP!
• The fastest and most efficient way to identify sellers that are open to FHA offers is to be sure your agent is "Cherry Picking" listings on a daily basis and sending them to you as soon as they hit the market.
• If you've already been searching or have had your offers rejected several times, it's time for a new approach. It's time to "Zig while others Zag"! Sounds silly but it's true and it has worked beautifully for my FHA buyers.

203k-Fixer Upper Loans-by FHA

Funds for Handyman-Specials and Fixer-Uppers

Purchasing a home that needs repair is often a sticky situation, because the bank won't loan you the money to purchase the house until the repairs are finished. But, the repairs can't be done until the house has been purchased. This is where 203k-Fixer Upper Loans come in.

HUD's 203(k) program will help you fixer upper types with this catch 22 situation and allow you to purchase and include in the loan the funs you need to make the repairs and improvements. And like a traditional FHA loan, the down payment requirement for an owner-occupant is approximately 3.5% of the purchase price coupled with the repair costs of the property.

Looking for a fixer upper and want to use the 203k-Fixer upper loans by FHA? Here are the steps you take:

Select an FHA-approved 203(k) lender before you start shopping. Once you identify a property you like, they and your Realtor will help you put a proposal together for FHA showing the scope of work to be done, including a detailed cost estimate on each repair or improvement of the project.
You and your FHA Realtor locate a fixer-upper
property that makes sense for you, your budget and the repairs that need to be done. Your agent will know how to write the offer contingent upon the approval of a 203K Fixer upper loan.
The appraisal is performed to determine the value of the property after renovation.
Once the loan closes, it will be for an amount that will cover the purchase price of the property, the remodeling costs and the allowable closing costs. The amount of the loan will also include a contingency reserve of 10% to 20% of the total remodeling costs and is used to cover any extra work not included in the original proposal.*per HUD
At closing the funds for your remodel are put in an escrow account to pay for the repairs and improvements during the rehab period. *per HUD
The mortgage payments and remodeling begin after the loan closes. The borrower can decide to have up to six mortgage payments put into the cost of rehabilitation if the property is not going to be occupied during construction, but it cannot exceed the length of time it is estimated to complete the rehab. *per HUD
Escrowed funds are released to the homeowner during construction through a series of draw requests for work that is completed. To ensure completion of the job, 10% of each draw is held back; this money is paid after the homeowner informs the lender that the work has been completed and after the lender determines there are no additional liens on the property. *per HUDSo “Do It Your Selfers”, interested in the 203k-Fixer Upper Loans for homes that need work? Contact Munson Realty at 877-636-0444 and we’ll help you find the “fixer upper” and provide you with a list of 203k- Fixer Upper Loans specialist.

SB 458- Good news for Californians who need to short sale

SB 458- Good news for Californians who need to short sale-California Governor Jerry Brown has signed SB 458 into law protecting California homeowners who must short sale their home from lenders pursing them after closing a short sale.

The fear of losing your home to foreclosure is emotionally draining and totally unnecessary. In a few short weeks you can be out from “underwater” on your home and off to a fresh start without the impact of a foreclosure on your credit score.

And now, thanks to SB 458-there’s excellent news for California homeowners who must short sale their home. California homeowners who must short sale their home from lenders pursuing them after the short sale closes.

Getting the short sale process started now can stop foreclosure. If your intention is to stop foreclosure through a short sale then it is important that you start the short sale process sooner rather than later.

Benefits of a short sale:

Live in your home and save money for your eventual move
Get $3K in Relocation expenses through HAFA
Avoid the huge hit to your credit that comes with a foreclosure
Avoid foreclosure
Get a fresh start and start rebuilding your credit
No cost to you to short sale your property
Discreet (your neighbors do not need to know)

We will never ask you for a single dollar to short sale your home. Your lender, not you, pays our fees. In fact, there is a very good chance we can negotiate $3,000 in relocation expenses on your behalf.

We are Certified Distressed Property Experts® monitoring the federal laws and regulations and promoting anti-scam and anti-fraud communications from various government organizations.

Call us now if you are ready to avoid foreclosure through the short sale process. Our consultation is free and confidential.

Call us: Locally (323) 216-9671 Toll free (877) 636-0444

Or Visit us at: Www.LosAngelesShortSaleAgent.com where you can register for a free and confidential evaluation of your situation.

A short sale success…"One of the heaviest moments in my life was when I realized that I faced the very real possibility that I may lose my home to foreclosure. Not only was it a blow to my ego but I was really embarrassed that the neighbors would know about my situation. I decided that I wanted to salvage the most I could of my credit score and would go for a short sale. A friend of mine opened up to me and told me of the "discreet" or "stealth" short sale that her realtors had offered her. Those realtors turned out to be Stephen Munson & Luis Montejano and his team. They had generated enough bids from buyers in the first few days that my friend was out of her situation within 8 weeks and she did not have to go through a foreclosure. What really made me feel better was that they did not put up a “for sale” sign or indicated in any of their sales material that my home was a short sale. Stephen & Luis were very gentle and professional and made me feel comfortable throughout the whole process. They even directed me to the right sources to get my credit back on track. Thanks guys for all of your help". Paul H. Los Angeles

Pre Qualification-Pre-Approval Process-How to prepare

first time home buyer Pre Qualification-Pre-Approval Process-How to prepare|Here are some quick tips to prepare buyers for the Loan Approval Process. Buyers today should be aware the financing process by nature has changed from 3 years ago. The documentation can be overwhelming but if they turn the items in early, things will usually run pretty smoothly. Keep these tips in mind.

Deposits always have to be paper trailed all the way to their source. Yes, it's cumbersome but if the client can't prove the source then that account and the money can't be used
Cash Deposits are like death. This is the biggest pain for Lenders, having to chase down multiple deposits from multiple accounts. The ideal situation is someone who has an account with no money movement....or only just depositing their paycheck and regular spending habits.
Consistency in Work History- Clients must demonstrate beyond a doubt that their income and job have consistency and a history.
Tax Returns-if you haven't filed your tax returns for the last 2 years (W2's and/or 1099's also) or turned them in for review....nothing is 100% guaranteed.

The Pre Approval-Pre Qualification process has gotten a bit stickier. These 4 points are common "hang-ups" that can hold up your purchase or ultimately cause you to Not Qualify for the home loan.

Having these items ready to go from the beginning will help save you from potential grief. You must be Armed and Ready to participate in this market!

Does short sale stop foreclosure? by Pasadena short sale agents Munson Realty

Does short sale stop foreclosure?

In many cases it does, at the very least it slows it down long enough to give your agent time to put off the sale date in order to secure a buyer. Why is that? Because lenders know that a foreclosure is usually a far more time consuming and costly option. If your agent can successfully complete a short sale then your lender has saved a lot of time and thousands of dollars.

How long does it take to foreclose a property in California? Depending on the timing of the various required notices, it usually takes around 90 days. Remember though, a short sale by no means is a fast sale so if this is the option you choose to take do yourself a huge favor and get the process started immediately. To date, the only reason we have not been able to successfully close on a short sale is because the seller has reached out to us too late.

Pasadena short sales require a little extra attention not necessarily because of the lender involved that must forgive the balance but because of city reports and inspections that must be done before the transfer of the property to the next buyer. Other than that, Pasadena short sales are pretty similar to any other short sale in Los Angeles.

Regarding the marketing of Pasadena short sales, sellers are well advised to utilize the expertise of Pasadena short sale agents who know how to gear the marketing towards the Pasadena buyer. You do not need to slather "short sale" all over the marketing material or "For Sale" sign. Munson Realty's Pasadena short sale agents specialize in a "discreet and confidential short sale" which appears as a "traditional" home sale to anyone driving by or looking at the marketing materials.

Copyright © Stephen Munson|Munson Realty-Pasadena Short Sale Agents-Does Short sale stop foreclosure? *Does Short Sale Stop Foreclosure| short sale, does a short sale stop foreclosure,Pasadena short sales, Pasadena short sale agents*

What is a Strategic Short sale? By Pasadena short sale agents Munson Realty

What is a Strategic Short sale?

By Pasadena short sale agents Munson Realty

What is a Strategic Short sale? By now short sales have been around long enough for most of us to grasp it’s concept, but as a brief review, here is what a traditional short sale is: When a seller must sell their home for less than they owe on the property, and their lender agrees to take less than what the seller owes on the note, that is a short sale.

Traditionally an underwater seller must prove some sort of hardship like job loss, death of a spouse, illness or some other unfortunate circumstance to qualify for a short sale.

But what about those who have no real hardship but have seen the value of their properties plummet…and as pure business decision want out?

Enter the “Strategic Short Sale”…let’s now explain “What is a strategic short sale”-

A Strategic Short Sale is when homeowners who purchased their homes at the peak of the market are now watching those values drop like stones and have decided it no longer makes sense to make payments on a property that has lost so much value. Even though they can still make their payments and they have no other real “hardship”, they’ve decided to short sale their property. In essence they have “strategized” their way out of a declining investment.

Will lenders allow sellers to do a strategic short sale without a hardship?

The answer is very often yes. More and more often, the short sale is approved. A hardship isn’t always necessary as the bank would often prefer to do strategic short sale than take it back and sell it later for less.

What are the benefits of a strategic short sale?

You can begin rebuilding your bank account with the money you are saving.
You can live in your home while it’s being sold and save some cash to get you off to a good recovery.
You may qualify for $3,000 in relocation expenses from HAFA
The impact of a short sale to your credit is less that of a foreclosure.

What’s the downside?

Even though the impact to your credit of a short sale is less that of a foreclosure your will take a hit.
You may be subject to taxes for the “short” of the sale. Although thanks to to SB 458 … When lender has agreed to a short sale on a home, SB 458 insures that all lien holders (the first and second loans) must consider the outstanding balance as completely paid off and the short seller (homeowner) will not be held responsible for any future payments on the home.

You may be asked to bring a cash settlement to closing, sign a promissory note, or both.
You won’t be able to purchase another house with a conventional loan for at least 2 years.

Should you do a strategic short sale? Clearly this is a very personal decision and you really need to consult with your tax person and possibly your attorney to see how this will impact you in their areas of expertise. But ultimately you may decide that even though you can make the payments now, you are struggling to do so…or you can’t manage to save for anything else, it may simply be a wise business decision for you to move on and get a fresh start.

“What is a strategic short sale” was brought to you by Pasadena sort sale agents Munson Realty. If you need help deciding if you should stay, walk away or do a strategic short sale, give us a call at 626.376.9732. Our consultations are no cost and we’ll help you make an educated decision of whether or not a strategic short sale is the right move for you.

Copyright © 2011 By Stephen Munson-Munson Realty, Pasadena short sale agents| What is a strategic short sale * What is a strategic short sale ,strategic short sale,Pasadena short sales,Pasadena short sale agents*

What is a Strategic Short sale? By Pasadena short sale agents Munson Realty

Short sale benefits-by Pasadena short sale agents Munson Realty

Short sale benefits

by Pasadena short sale agents Munson Realty

Short sale benefits- Are there short sale benefits? Sure there are, in fact one of the largest benefits is avoiding foreclosure. Short sale benefits such as avoiding foreclosure are a motivating factor for many homeowners who are upside down on their loans. Their main concern (and rightly so) is escaping the huge hit to their credit score that a foreclosure would entail. Short sales typically take a smaller “hit” to the FICO score verses foreclosure.

Other short sale benefits:

HAFA offers $3k in relocation expenses. The government backed HAFA short sale program offers short t sellers $3,000 in relocation expenses as one of their short sale benefits.
Peace of mind. No more phone calls and hugely reduced stress levels are huge short sale benefits.
A fresh start. Wiping the slate clean opens the door to better life opportunities.
Faster credit recovery. This means you can buy again sooner in a market that is more realistic, again another one of the nice short sale benefits.

Pasadena short sales require a little extra attention not necessarily because of the lender involved that must forgive the balance but because of city reports and inspections that must be done before the transfer of the property to the next buyer. Other than that, Pasadena short sales are pretty similar to any other short sale in Los Angeles.

Regarding the marketing of Pasadena short sales, sellers are well advised to utilize the expertise of Pasadena short sale agents who know how to gear the marketing towards the Pasadena buyer. You do not need to slather "short sale" all over the marketing material or "For Sale" sign. Munson Realty's Pasadena short sale agents specialize in a "discreet and confidential short sale

" which appears as a "traditional" home sale to anyone driving by or looking at the marketing materials.

Having to short sale your home does not make you any less of a person. In fact you must ask yourself: How wise is it to stay on board a sinking ship? Most of the time, a short sale is simply a smart business choice that benefits everyone. A short sale benefits the bank because they don’t go through the cost of a foreclosure. A short sale benefits the new buyer because they’ve found a new home at a reasonable price. Most importantly, a short sale benefits you because you’ve avoided foreclosure, taken a lesser hit to your credit and will have peace of mind knowing you made a smart business decision.

Short sale benefits-by Pasadena short sale agents Munson Realty

Short sale benefits

by Pasadena short sale agents Munson Realty

Other short sale benefits:

HAFA offers $3k in relocation expenses. The government backed HAFA short sale program offers short t sellers $3,000 in relocation expenses as one of their short sale benefits.
Peace of mind. No more phone calls and hugely reduced stress levels are huge short sale benefits.
A fresh start. Wiping the slate clean opens the door to better life opportunities.
Faster credit recovery. This means you can buy again sooner in a market that is more realistic, again another one of the nice short sale benefits.

Pasadena short sales require a little extra attention not necessarily because of the lender involved that must forgive the balance but because of city reports and inspections that must be done before the transfer of the property to the next buyer. Other than that, Pasadena short sales are pretty similar to any other short sale in Los Angeles.

Regarding the marketing of Pasadena short sales, sellers are well advised to utilize the expertise of Pasadena short sale agents who know how to gear the marketing towards the Pasadena buyer. You do not need to slather "short sale" all over the marketing material or "For Sale" sign. Munson Realty's Pasadena short sale agents specialize in a "discreet and confidential short sale

" which appears as a "traditional" home sale to anyone driving by or looking at the marketing materials.

Sunday, August 28, 2011

Pasadena Short Sale FAQ's

Pasadena Short Sales FAQ s

Pasadena Short Sales FAQ- 6-What sort of hardship would my lender consider legitimate? To some extent, that will depend upon the Lender considering your Short Sale request.

Below you will find a list of common “hardships” that may be accepted by Mortgage Servicers:
Family illness or injury
Job relocation
Job loss or significant income loss
Divorce or split of domestic partners
Death of a spouse
Adjustment in mortgage payment or unforeseen increase in living expenses
Too much debt
Military service

Pasadena Short Sales FAQ-10- My property is in rough shape and needs work; can I still do a Short Sale? Absolutely, Lenders often take into consideration repair costs, as a factor, when determining whether to approve a Home Short Sale offer. I am concerned about my credit, so how will a Short Sale affect my credit? The goal is to avoid foreclosure. Consult your attorney to verify how this may affect your credit.

Pasadena Short Sales FAQ- 11-Can I receive cash from a Short Sale? No, Home Short Sales are only designed to get you out of your mortgage debt rather than going through the entire foreclosure process. It is not a refinance option and you will be vacating the property, as you would, if you were going through foreclosure.

Pasadena Short Sales FAQ- 12-How much will it cost me to use you as a Realtor? There are no costs to the Seller or Buyer for using us.

Pasadena Short Sales FAQ-13-What if I have filed bankruptcy?-You will need to check with your Bankruptcy Attorney to verify if you can proceed with a Short Sale.

Pasadena Short Sales

Tuesday, August 9, 2011

SB 458- Good news for Californians who need to short sale

SB 458- Good news for Californians who need to short sale-California Governor Jerry Brown has signed SB 458 into law protecting California homeowners who must short sale their home from lenders pursing them after closing a short sale.

And now, thanks to SB 458-there’s excellent news for California homeowners who must short sale their home from lenders pursuing them after the short sale closes.

Benefits of a short sale:

Live in your home and save money for your eventual move
Get $3K in Relocation expenses through HAFA
Avoid the huge hit to your credit that comes with a foreclosure
Avoid foreclosure
Get a fresh start and start rebuilding your credit
No cost to you to short sale your property
Discreet (your neighbors do not need to know)

We are Certified Distressed Property Experts® monitoring the federal laws and regulations and promoting anti-scam and anti-fraud communications from various government organizations.

Call us now if you are ready to avoid foreclosure through the short sale process. Our consultation is free and confidential.

Call us: Locally (323) 216-9671 Toll free (877) 636-0444

Or Visit us at: Www.LosAngelesShortSaleAgent.com where you can register for a free and confidential evaluation of your situation.

Pages

Tuesday, August 30, 2011

Pasadena Short Sales FAQ s

Should I short sale?

How to short sale

SB 458

So what's the challenge with FHA?

What the solutions in finding FHA approved homes and condos?

203k-Fixer Upper Loans-by FHA

Funds for Handyman-Specials and Fixer-Uppers

Does short sale stop foreclosure?

What is a Strategic Short sale?

Short sale benefits

Short sale benefits

Sunday, August 28, 2011

Pasadena Short Sales FAQ s

Tuesday, August 9, 2011