Los Angeles short sale agents-Munson Realty

Los Angeles short sale agents-Munson Realty

Munson Realty and their Los Angeles short sale agents are a group of real estate/property advisers, escrow agents and title representatives with the intention to streamline the short sale process. Our goal is to create a win-win scenario for “you”, the homeowner and your lender. Our team of experts has helped countless distressed sellers through the stressful threat of foreclosure.

Our Los Angeles short sale agents close short sales and save homeowners from foreclosure where others fail. We will be very direct in telling you that we cannot guarantee we will save you from your “auction sale date” but we do have a 92% successes ratio. 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.

In California, you have approximately 90 days (may vary from lender to lender) from the Notice of Default filed by your lender for property to be sold at property auction.

Getting the short sale process started now with our Los Angeles short sale agents 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.

Our Los Angeles Short Sales Services are at NO Cost to you!

Contact one of Munson Realty’s Pasadena short sale agents to schedule a free evaluation. 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.

Call Munson Realty’s Los Angeles short sale agents now if you are ready to avoid foreclosure through the short sale process. Our consultation is free and confidential.

Contact us : Locally (323) 216-9671 or (323) 216-9671 Spanish (877) 431-4432

What is a short sale hardship? By Pasadena short sale agents

What is a short sale hardship?

By Pasadena short sale agents Munson Realty

Short Sale Hardship-In a traditional short sale where there is a true ”hardship” for the underwater homeowner, the bank will often ask for a “hardship letter” explaining the homeowners case for “short sale hardship”.

A short sale hardship can include:

• Loss of job
• Sky rocketing interest rate
• Death or illness in the family
• Divorce
• Loss of business

In this video Munson Realty, Pasadena short sale agents describe short sale hardship and we answer the question: Is it always necessary to have a true hardship for a short sale? You may be surprised to find out just how flexible banks are getting with short sale hardship cases. In fact you will learn about how many homeowners are doing a “strategic short sale” with no real short sale hardship.

f 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 Us and we will quickly be able to confirm if indeed you qualify for a Short Sale. Once that is established, we will begin the Listing Process and guide you through the following steps:

1. Put your Hardship Letter together
2. Give us (your agent) Permission to Contact your lender to negotiate on your behalf and determine what you owe to date.
3. After we determine the market value we will set a listing price and your home will be listed and Marketed on the MLS.
4. Once Offer is Received and you have approved the offer, we will negotiate with your lender for their approval of the Short Sale
5. Once Short Sale is approved by lender, escrow process begins
6. After all parties meet their obligations escrow is closed and short sale is successfully closed.

More questions about Pasadena short sales? Contact us directly at 626-376-9732.

Backing out of a home purchase

Backing out of a home purchase

Backing out of a home purchase in California is not so difficult as it is a very consumer friendly state for home buyers. One of the MOST important rights you have as a buyer is backing out of a home purchase!

Let's imagine you find a home that is perfect fit for you. You come to an agreement on the price and terms with the seller and you agree to purchase the home.

The day the seller accepts your offer, he or she will want a deposit from you that shows in "good faith" your intentions to purchase the property. That deposit is typically 3% of the purchase price and must be deposited into escrow within 3 days of acceptance.

You now have some time to do your “due diligence” and you have 17 days for backing out of a home purchase, for any reason, and get that deposit back. *Note: this time frame can be negotiated down to fewer days by the buyer or seller, but 17days is the standard/default time frame.

So why would you want to back out of a home purchase?

• A home inspection shows multiple structural issues you are not prepared to deal with.
• Your loan is not approved.
• Personal hardship or job loss.
• Cold feet!

It doesn't matter why you choose backing out of a home purchase, unless otherwise stated in the agreement; you have the right to walk away no questions asked.

Now, the only way you can lose that deposit is if you decide to back out after the17 days (or whatever time period is negotiated). In my experience, 17 days is plenty of time to decide if you want to make this your new home.

If fear of making the wrong decision has kept you on the fence, then rest assured you have plenty of time to do your “due diligence” and make an intelligent home purchase you will not regret! Still have questions? Contact us at 323-216-9671 and we'll be happy to help!

Happy Home Hunting!

Why would your lender take less than you owe on your mortgage?

Why would your lender take less than you owe on your mortgage?

By Pasadena short sale agents, Munson Realty

Why would your 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.

A short sale will usually result in a considerably smaller loss for the lender than a foreclosure would because of the holding time during which the property will likely sit vacant.

The bottom line is, lenders recover more money to cover their losses from a short sale than foreclosing on your property. It is a more effective measure than foreclosure.

Are you considering short selling your home? Munson Realty and their Pasadena short sale agents close short sales and save homeowners from foreclosure where others fail. 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.

Our goal is to create a win-win scenario for “you”, the homeowner and your lender. If you think we can be of help, contact us at 626-376-9732. Let’s see if we can’t help you avoid foreclosure through a short sale.

What Is A Strategic Short Sale? By Los Angeles Short Sale Agents, Munson Realty

What Is A Strategic Short Sale?

By Los Angeles Short Sale Agents, Munson Realty

What is a Strategic 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”… in this video exert, Los Angeles short sale agent Stephen Munson of Munson Realty explains “What is a strategic short sale”-

Even though some homeowners 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. In this video we will briefly explain the strategic short sale, its pros and its cons.

Short Sale vs Foreclosure-by Pasadena short sale agents Munson Realty

Short Sale vs Foreclosure

By Pasadena Short Sale Agents, Munson Realty

Short Sale vs Foreclosure-by Pasadena short sale agents Munson Realty- It’s no “news flash” that many homeowners are underwater and desperate for relief. They are experiencing hardships such as job loss, death or illness in the family or frankly their adjustable loan rates have spiraled out of control leaving them very few options. In most cases those options are to walk away and allow the bank to “foreclose” on their property or to “short sale” for a faster credit recovery. In this video, Pasadena short sale agent Stephen Munson discusses the main differences between a Foreclosure and a short sale and how each impacts your credit. You may be surprised to find out just how soon you can become a homeowner again depending upon which route you choose to take… foreclosure or short sale!

Copyright © 2011 By Stephen Munson-Munson Realty, Pasadena short sale agents*Discreet and Confidential Short Sale •does a short sale stop foreclosure • foreclosure • foreclosures • hafa • hafa program • hafa short sale • hafa short sales •Pasadena short sale agents Pasadena short sales • Pasadena short sale broker • Pasadena short sales broker • short sale •short sales • strategic short sale • What is a strategic short sale

How much for down payment?

How much for down payment?

It really depends on your situation. Are you a first time buyer, move up buyer or an investor? Here are some guidelines for each:

First-time home buyers- First time buyers have many options.

VA Buyers- Can put Zero down and the seller must pay the closing cost

FHA Buyers- May put down as little as .5 %( 1/2 of 1 percent) to 3.5% and the seller may pay u to 6% of the closing cost. There are FHA grant programs out there that will “grant” 3 % of the down payment to the FHA buyer and it never has t be paid back. This leaves only .5% for the buyer to put down. That’s only $1,500 on a $300K property. There are restrictions on this grant regarding income but it’s an awesome deal for the first time buyer.

Conventional First time Buyers- Can put down as little as 5% of the purchase price. Generally speaking though, conventional buyers put 10% plus down and have better finance rates.

Non-First Time Buyer

The “non-first time buyer”, someone who has not owned a home for the last 3 year or is selling one home and purchasing another , will likely be going with a conventional loan which usually requires at least a 5% down payment, but typically 10-20% down.

Investors

An investor is typically one who will not be living in the property and is purchasing it to flip or rent out. Their down payments usually start at 25% and go up from there.

Even though there are no “zero” down loans available, you can still get pretty close with the FHA 3.5% down loan, a grant for 3% of the down payment and the seller paying your closing cost. Pretty nice considering home prices are much more reasonable now. In fact many people are purchasing homes for about what they are paying for rent. We haven’t seen those days in a long time! If you have any questions about down payment, don’t hesitate to contact us at 323-216-9671

Copyright © 2011 By Stephen Munson-Munson Realty Southern California Real Estate –FHA Los Angeles*FHA Los Angeles,first time home buyer questions, Siverlake Realtors, silver lake homes for sale, FHA approved Condos, FHA Questions, Munson Realty Southern California Real Estate, San Fernando Valley Homes For Sale, Pasadena Homes For Sale*

Short Sale vs Foreclosure-by Los Angeles short sale agents Munson Realty

Short Sale vs Foreclosure-

by Los Angeles short sale agents Munson Realty

It’s no “news flash” that many homeowners are underwater and desperate for relief. They are experiencing hardships such as job loss, death or illness in the family or frankly their adjustable loan rates have spiraled out of control leaving them very few options. In most cases those options are to walk away and allow the bank to “foreclose” on their property or to “short sale” for a faster credit recovery.

In this video, Los Angeles short sale agent, Stephen Munson discusses the main differences between a Foreclosure and a short sale and how each impacts your credit. You may be surprised to find out just how soon you can become a homeowner again depending upon which route you choose to take… foreclosure or short sale!

Copyright © 2011 By Stephen Munson-Munson Realty, Los Angeles short sale agents*Discreet and Confidential Short Sale •does a short sale stop foreclosure • foreclosure • foreclosures • hafa • hafa program • hafa short sale • hafa short sales •Pasadena short sale agents Pasadena short sales • Pasadena short sale broker • Pasadena short sales broker • short sale •short sales • strategic short sale • What is a strategic short sale

What is a short sale hardship? By Pasadena short sale agents

What is a short sale hardship?

By Pasadena short sale agents Munson Realty

Short Sale Hardship-In a traditional short sale where there is a true ”hardship” for the underwater homeowner, the bank will often ask for a “hardship letter” explaining the homeowners case for “short sale hardship”.

A short sale hardship can include:

• Loss of job
• Sky rocketing interest rate
• Death or illness in the family
• Divorce
• Loss of business

In this video Munson Realty, Pasadena short sale agents describe short sale hardship and we answer the question: Is it always necessary to have a true hardship for a short sale? You may be surprised to find out just how flexible banks are getting with short sale hardship cases. In fact you will learn about how many homeowners are doing a “strategic short sale” with no real short sale hardship.

f 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 Us and we will quickly be able to confirm if indeed you qualify for a Short Sale. Once that is established, we will begin the Listing Process and guide you through the following steps:

1. Put your Hardship Letter together
2. Give us (your agent) Permission to Contact your lender to negotiate on your behalf and determine what you owe to date.
3. After we determine the market value we will set a listing price and your home will be listed and Marketed on the MLS.
4. Once Offer is Received and you have approved the offer, we will negotiate with your lender for their approval of the Short Sale
5. Once Short Sale is approved by lender, escrow process begins
6. After all parties meet their obligations escrow is closed and short sale is successfully closed.

More questions about Pasadena short sales? Contact us directly at 626-376-9732 .

Copyright © 2011 By Stephen Munson-Munson Realty, Pasadena short sale agents*Discreet and Confidential Short Sale •does a short sale stop foreclosure • foreclosure • foreclosures • hafa • hafa program • hafa short sale • hafa short sales •Pasadena short sale agents Pasadena short sales • Pasadena short sale broker • Pasadena short sales broker • short sale •short sales • strategic short sale • What is a strategic short sale

Backing out of a home purchase

Backing out of a home purchase

Backing out of a home purchase in California is not so difficult as it is a very consumer friendly state for home buyers. One of the MOST important rights you have as a buyer is backing out of a home purchase!

Let's imagine you find a home that is perfect fit for you. You come to an agreement on the price and terms with the seller and you agree to purchase the home.

The day the seller accepts your offer, he or she will want a deposit from you that shows in "good faith" your intentions to purchase the property. That deposit is typically 3% of the purchase price and must be deposited into escrow within 3 days of acceptance.

You now have some time to do your “due diligence” and you have 17 days for backing out of a home purchase, for any reason, and get that deposit back. *Note: this time frame can be negotiated down to fewer days by the buyer or seller, but 17days is the standard/default time frame.

So why would you want to back out of a home purchase?

• A home inspection shows multiple structural issues you are not prepared to deal with.
• Your loan is not approved.
• Personal hardship or job loss.
• Cold feet!

It doesn't matter why you choose backing out of a home purchase, unless otherwise stated in the agreement; you have the right to walk away no questions asked.

Now, the only way you can lose that deposit is if you decide to back out after the17 days (or whatever time period is negotiated). In my experience, 17 days is plenty of time to decide if you want to make this your new home.

If fear of making the wrong decision has kept you on the fence, then rest assured you have plenty of time to do your “due diligence” and make an intelligent home purchase you will not regret! Still have questions? Contact us at 323-216-9671 and we'll be happy to help!

Happy Home Hunting!

Copyright © 2011 By Stephen Munson-Munson Realty Southern California Real Estate –FHA Los Angeles ,backing out of a home purchase,*FHA Los Angeles, first time home buyer questions, Siverlake Realtors, silver lake homes for sale, FHA approved Condos, FHA Questions, Munson Realty Southern California Real Estate, San Fernando Valley Homes For Sale,Pasadena Homes For Sale,backing out of a home purchase*