If you’re a homeowner who is experiencing difficulties paying your current mortgage, or are finding yourself forced into the foreclosure process, you may wonder if it’s better to Short Sale your home or continue on the foreclosure path. Depending on your specific circumstances, there are certainly advantages and disadvantages to both. While you can stay [...] Read more »
The Top 10 Myths About Loan Modifications
As a homeowner, figuring out how to start the Loan Modification process can be confusing. All the confusing and inaccurate data that is posted on the internet and spread around on the news is based on the understanding of writers and journalists that may not understand the Loan Modification process. So how do you know [...] Read more »
5 Ways to Stop the Foreclosure Process
Not ready to walk away from your mortgage, but looking for an alternative to the foreclosure process? As a Short Sale Specialist, I help families in the Long Beach area navigate their underwater mortgages and find suitable solutions to their loan issues. In some situations it’s too late to do anything, but wait for the [...] Read more »
Is Walking Away from Your Mortgage an Option?
Lately we’re inundated with news about people losing money on their homes and the increasing rate of underwater mortgages. As a Short Sale Specialist, I speak with many people who owe more on their mortgage than their homes are actually worth. As their homes continue to lose value and they are continuously rejected the option [...] Read more »
10 Questions to Ask Your Real Estate Agent
One of the toughest decisions we face when deciding to sell our home is finding the right Real Estate Agent. We often rely on ads or referrals to decide, which agent is the best fit or has the most success in the Long Beach area. The truth is, if you really want to know what [...] Read more »
Should You Consider a Strategic Foreclosure If You Can Still Afford Your Mortgage?
If you're like 75% of homeowners in California, you'd rather stick it out than default on your mortgage. When we start to get "underwater" with our mortgage, or even fear that it's a possibility, the fear and guilt more than logic and rationality affect our future decisions. As the economy begins it's slow ascent and house prices continue to fall, most homeowners would rather hold on to their homes than face the stigma associated with a strategic foreclosure. Rumors of Short Sale failure, long wait times and the affect on our credit keep us from making a decision that will save us from the devastation of a foreclosure. Read more »
What is HAFA and How Will it Help Your Short Sale?
We’re not out of foreclosure trouble yet, but the government’s new Short Sale program should give some California homeowners renewed hope. With the help of the federal Treasury Department’s Home Affordable Foreclosure Alternative (HAFA) Program, Short Sales are becoming a little easier to initiate and complete. The HAFA program offers financial incentives to both the [...] Read more »
How To Improve Your Short Sale Success
Are you in distress and considering a Short Sale as an alternative to foreclosure? If you start the process properly, with plenty of time to spare, you drastically increase the chance of a successful sale. I get a lot of satisfaction from helping people who otherwise would end up in foreclosure, but often sellers contact me too late in the foreclosure process. This means I need to rev up my marketing, track down the lender, drop the price way below market and call everyone I know to drum up an offer at the last minute. And if you're too close to auction, your lender might pass on your request for a Short Sale. Read more »
Foreclosure Alternatives: Short Sales and Deeds in Lieu
If you've been denied a loan modification and can't afford to pay your mortgage, you still have a couple of options. To avoid foreclosure, consider a Short Sale or a Deed in Lieu of foreclosure. These options allow you to sell or walk away from your home without incurring liability for the loan deficiency. Read more »
3 Questions to Ask Before Considering a Short Sale
If you are thinking of pursuing a Short Sale because you're falling behind on your mortgage payments, you might want to consider these questions before listing your house. How Should I Price My Short Sale Property? Ask any Short Sale brokerage and they will tell you to price your property at or near fair market value, but it's a good idea to begin with the total debt amount owed to your lender. How frequently you reevaluate your price will depend on how far along you are in your foreclosure process and the value of the housing market at that point in time. Read more »
