Stop Foreclosure Institute of Contra Costa Assisting Homeowners in Distress

The Biggest Threat To A Successful Contra Costa Short Sale

October 18, 2011
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Contra Costa CA – The biggest threat to your short sale is a high appraisal. Banks consider short sales for economic reasons.

A bank will approve a short sale only if they think they will net more money taking the short sale offer. To make sure they aren’t selling the house for too little, they order an appraisal.

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

The problem is that most homes are selling for less than appraisal. In one example, a non short sale listing sold for 225k. However, the property could have appraised for 300k.

That means the short sale lender would never have approved it. This is why your agent needs to make sure the appraisal is accurate. There is nothing unethical or illegal about doing this. Let me explain why.

80% of the loans handled by big mortgage companies are actually owned by an investor. These front companies (such as Wells Fargo, Bank of America, SunTrust, or Chase) are acting as a “servicer.”

The servicers save money by taking 60-90 days to consider a short sale offer, turning down files over one missing doc, and cutting staff. This is why short sale offers get turned down for no reason.

However, if they can see that the house is valued at 745k and you’re selling it for 730k, they’ll accept the offer. Again, which is why your agent needs to make sure the appraisal is accurate.

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 steve@stevehansenhomes.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 (925) 639-1979

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

Thinking about a loan modification? Our Contra Costa 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, Steve Hansen.

Steve is a Real Estate Agent at J. Rockcliff Realtors. Contra Costa Short Sales Realtor:

Phone: (925) 639-1979. steve@stevehansenhomes.com.

Caring, Competent Representation

View My homes for sale at SteveHansenHomes.com.

Steve Hansen specializes in loan modification assistance and short sales in Contra Costa California. Contra Costa Loan Modification Help, Contra Costa Short Sales. Contra Costa Short Sale Realtor Contra Costa CA Short Sales. Contra Costa Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steve Hansen, J. Rockcliff Realtors, 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 Steve’s personal views and do not reflect the views of J. Rockcliff Realtors.

This information on The Biggest Threat To A Successful Contra Costa Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

When A Bank Should Accept A Buyer’s Offer To Buy A Contra Costa Short Sale

October 4, 2011
Comments 0


Contra Costa CA – A bank should accept your short sale when the following rules apply. All banks and servicers have a fiduciary duty to the investor of the loan.

If they own the loan themselves, they have a fiduciary duty to their stockholders. The duty is to get that investor the most money possible.

So, a lender should accept an offer if it will net the most money.

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

The answer is that it is unlikely that any of that will happen.

Here is how we can assure the negotiator that the offer will net them the most money. Your only job is to prove that to the lender.

Do that by showing them that the property has been on the open market. It is best to be able to show that the house was easy for buyers to see and other agents to show.

Ask them the following, “The agent selling the home is an experienced agent. The house has been on the market for X number of days. I have lived here the entire time and kept up on the house.

It looks good. We have had 43 showings since it’s been on the market. Out of that, only 3 buyers expressed interest. Out of those 3 buyers, the current buyer is the one willing to pay the most money.

The agent is doing their job marketing the property. With the current foreclosure case status, the home won’t be foreclosed until June or July. When you foreclose on the house, I will move out.

I won’t be keeping the house up anymore. The new listing agent will be working on 20 other homes and won’t be able to do as good of a job as myself. Do you honestly think the home is going to sell for more money at that time?”

When you ask them that, they won’t be able to argue with you. 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 steve@stevehansenhomes.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 (925) 639-1979

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

Thinking about a loan modification? Our Contra Costa 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, Steve Hansen.

Steve is a Real Estate Agent at J. Rockcliff Realtors. Contra Costa Short Sales Realtor:

Phone: (925) 639-1979. steve@stevehansenhomes.com.

Caring, Competent Representation

View My homes for sale at SteveHansenHomes.com.

Steve Hansen specializes in loan modification assistance and short sales in Contra Costa California. Contra Costa Loan Modification Help, Contra Costa Short Sales. Contra Costa Short Sale Realtor Contra Costa CA Short Sales. Contra Costa Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steve Hansen, J. Rockcliff Realtors, 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 Steve’s personal views and do not reflect the views of J. Rockcliff Realtors.

This information on When A Bank Should Accept A Buyer’s Offer To Buy A Contra Costa Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Contra Costa Short Sale Question: Why Does My Lender Want My Last 2 Pay Stubs?

September 30, 2011
Comments 0


Contra Costa CA – The Stop Foreclosure Institute recently received a question from Amit. Here was his question.

“Why does my lender need copies of my last 2 pay stubs? Are they hoping to garnish my paycheck? I am concerned that if I give it to them, then they will use it to garnish my paycheck.

They have said if they don’t get them, then they will not approve the short sale. What should I do? Amit.”

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

Here was our answer. Amit, we are not lawyers and therefore we can’t answer the garnishment question. Are you at risk of having your paycheck garnished?

I don’t think so. But, that’s just my opinion. Here is the first reason I don’t think they will garnish your wages. It’s because they don’t request that information to use it to attempt to garnish your wages.

In most cases, the lender simply wants to see how much money you are making. If you can afford your mortgage payment, then they might turn down the short sale.

Here is the second reason I don’t think they will garnish your wages. Wage garnishment is difficult. There are many different exceptions and protections against wage garnishment.

For example, if the person being garnished is the main provider for a family, then the laws are often written to stop any garnishment against them.

Here is the third reason I don’t think they will garnish your wages. None of the many people we have helped with a short sale have ever told us that they had their wages garnished. 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 steve@stevehansenhomes.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 (925) 639-1979

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

Thinking about a loan modification? Our Contra Costa 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, Steve Hansen.

Steve is a Real Estate Agent at J. Rockcliff Realtors. Contra Costa Short Sales Realtor:

Phone: (925) 639-1979. steve@stevehansenhomes.com.

Caring, Competent Representation

View My homes for sale at SteveHansenHomes.com.

Steve Hansen specializes in loan modification assistance and short sales in Contra Costa California. Contra Costa Loan Modification Help, Contra Costa Short Sales. Contra Costa Short Sale Realtor Contra Costa CA Short Sales. Contra Costa Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steve Hansen, J. Rockcliff Realtors, 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 Steve’s personal views and do not reflect the views of J. Rockcliff Realtors.

This information on Contra Costa Short Sale Question: Why Does My Lender Want My Last 2 Pay Stubs? is provided as a courtesy to our viewers to help them make informed decisions.

Contra Costa Short Sale Question: Do I Need To Disclose Anything Wrong With My House?

September 28, 2011
Comments 0


Contra Costa CA – The Stop Foreclosure Institute recently received a question from Will. Here was his question.

“I am thinking of short selling my house. There are some problems with the house. I know that most home buyers get a home inspected before they buy it.

Do I have to tell them about the problems? Or, should I leave them for the inspector to find? Will.”

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

Here was our answer. Will, we would disclose everything to the home buyers. It doesn’t do you any good to hide any problems.

The inspector will probably find them. But, if any are missed, then the buyers could sue you later on for damages.

I don’t know all the legal ramifications. In my opinion, they could sue you for hiding a problem that you knew about.

Who needs more legal problems? Besides, even if the house sells for less money as a result of the problems, then your lender will take the loss.

Remember, in most cases you can’t make any money off of the short sale. And even if you do, that amount will probably not change if your home sells for a lower value.

Your lender would have to factor those problems into the price it could get if it was selling the home after a foreclosure. 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 steve@stevehansenhomes.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 (925) 639-1979

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

Thinking about a loan modification? Our Contra Costa 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, Steve Hansen.

Steve is a Real Estate Agent at J. Rockcliff Realtors. Contra Costa Short Sales Realtor:

Phone: (925) 639-1979. steve@stevehansenhomes.com.

Caring, Competent Representation

View My homes for sale at SteveHansenHomes.com.

Steve Hansen specializes in loan modification assistance and short sales in Contra Costa California. Contra Costa Loan Modification Help, Contra Costa Short Sales. Contra Costa Short Sale Realtor Contra Costa CA Short Sales. Contra Costa Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steve Hansen, J. Rockcliff Realtors, 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 Steve’s personal views and do not reflect the views of J. Rockcliff Realtors.

This information on Contra Costa Short Sale Question: Do I Need To Disclose Anything Wrong With My House? is provided as a courtesy to our viewers to help them make informed decisions.

A Common Contra Costa Short Sale Myth: The Short Sale File Has To Be Perfect Before You Can Submit It To The Lender

Comments 1


Contra Costa CA – Many agents think that a short sale lender will not look at a file until the short sale file is perfect.

“I need your financial information, last 2 years of tax returns, last 2 pay stubs, last 2 month’s bank statements, and all the other short sale paperwork before I can submit the file”, they tell you.

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

A perfect short sale file does help. But, some agents think it will make the short sale process so much easier.

But, even if the paperwork is perfect and submitted the lender will still want another piece of paperwork or want something modified. It’s just the nature of short sales.

Lenders are always changing their policies and paperwork requirements. In some cases, they want the seller to fill out their financial statement form.

In other cases, they want certain affidavits filled out and signed. No matter what, the requirements are always changing. It’s hard to hit a moving target.

The best practice we have seen is to submit the paperwork you have and then wait to see if the lender needs any additional paperwork.

When the short sale negotiator first looks at the file they will let you know what they need. You just need to make sure you get them that paperwork fairly quickly. 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 steve@stevehansenhomes.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 (925) 639-1979

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

Thinking about a loan modification? Our Contra Costa 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, Steve Hansen.

Steve is a Real Estate Agent at J. Rockcliff Realtors. Contra Costa Short Sales Realtor:

Phone: (925) 639-1979. steve@stevehansenhomes.com.

Caring, Competent Representation

View My homes for sale at SteveHansenHomes.com.

Steve Hansen specializes in loan modification assistance and short sales in Contra Costa California. Contra Costa Loan Modification Help, Contra Costa Short Sales. Contra Costa Short Sale Realtor Contra Costa CA Short Sales. Contra Costa Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steve Hansen, J. Rockcliff Realtors, 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 Steve’s personal views and do not reflect the views of J. Rockcliff Realtors.

This information on A Common Contra Costa Short Sale Myth: The Short Sale File Has To Be Perfect Before You Can Submit It To The Lender is provided as a courtesy to our viewers to help them make informed decisions.

Is It Better To Buy A Contra Costa Short Sale Or Wait Until After The Bank Has Foreclosed?

September 26, 2011
Comments 0


Contra Costa CA – Some people think they can go around a homeowner and buy a home directly from the bank. “The seller has to submit our offer to the bank because the bank owns the house”, they tell us.

They assume that they can sidestep the seller and buy the house directly from the bank. The truth is that until the bank forecloses on the house, the seller owns it and they are in the driver’s seat.

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

If the seller works with another buyer on a short sale and the bank approves the short sale, then that buyer will get the house. If you really want the house, then it is best to work with the homeowner during a short sale.

However, if you want to try your luck, then you can wait until the foreclosure is completed and buy the house from the bank.

However the bank won’t just sell the house to you. They have a standard way that they sell bank owned properties. They put them on the open market and wait for a good offer.

In most cases, they will not sell the house to you without putting it on the open market. This policy ensures that they don’t sell any homes for less than the fair market value.

Every buyer in the market has a fair shot at the house. Their reasoning is that will get them the best price for the home. 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 steve@stevehansenhomes.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 (925) 639-1979

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

Thinking about a loan modification? Our Contra Costa 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, Steve Hansen.

Steve is a Real Estate Agent at J. Rockcliff Realtors. Contra Costa Short Sales Realtor:

Phone: (925) 639-1979. steve@stevehansenhomes.com.

Caring, Competent Representation

View My homes for sale at SteveHansenHomes.com.

Steve Hansen specializes in loan modification assistance and short sales in Contra Costa California. Contra Costa Loan Modification Help, Contra Costa Short Sales. Contra Costa Short Sale Realtor Contra Costa CA Short Sales. Contra Costa Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steve Hansen, J. Rockcliff Realtors, 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 Steve’s personal views and do not reflect the views of J. Rockcliff Realtors.

This information on Is It Better To Buy A Contra Costa Short Sale Or Wait Until After The Bank Has Foreclosed? is provided as a courtesy to our viewers to help them make informed decisions.

Contra Costa Short Sale Myth: There Are No Rules Or Guidelines For Short Sales

September 23, 2011
Comments 0


Contra Costa CA – I recently saw an article written by a prominent, so called short sale expert. In the article, this supposed expert says the only rules for short sales are HAFA, but even those rules are subject to interpretation.

That is like saying that there are no traffic laws. If that were the case, then everyone could drive 100 MPH and never get a ticket.

That is like saying that the court system has no rules. (Go ask a judge or lawyer and you’ll find out the truth about that pretty fast.)

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

The good news for short sale sellers is that there are rules. There are lots of rules in fact. These rules protect you from renegade, rogue employees at short sale lenders. They also protect you from the lenders.

Here is a small sampling of the rules and guidelines for short sales.

FHA Short Sales. There is a 16 page directive from HUD to lenders. This directive gives explicit instructions to all lenders on how to handle short sales on FHA loans.

You can read thru the rules for an FHA Short Sale yourself. Just Google “Mortgagee Letter 2008-43.”

VA Short Sales. VA gives explicit instructions (again in their short sale guidelines. Only, they don’t call it a short sale. They call it a VA Compromise Sale.

Call a VA Loan Center to get a copy of the Compromise Sale Guidelines. Between 65-70% of all the loans in the US are owned or insured by one of the following entities: FHA, VA, Fannie Mae, or Freddie Mac.

Those entities either own or insure against loss. That also means those entities have the right to dictate what can and cannot be done on a short sale.

The lender handling the negotiations has to follow their guidelines or face stiff penalties. Fannie May and Freddie Mac do not publish their guidelines to the general public. But, we do know they have them.

The lenders have sent Stop Foreclosure Institute Members copies of their guidelines before. The member was disputing something on a short sale. They couldn’t believe a certain rule.

The lender’s negotiator sent them the guidelines for the thing they were disputing. The bottom line is that most (if not all) short sale sales do have rules.

However, the lenders don’t want you to know that. 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 steve@stevehansenhomes.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 (925) 639-1979

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

Thinking about a loan modification? Our Contra Costa 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, Steve Hansen.

Steve is a Real Estate Agent at J. Rockcliff Realtors. Contra Costa Short Sales Realtor:

Phone: (925) 639-1979. steve@stevehansenhomes.com.

Caring, Competent Representation

View My homes for sale at SteveHansenHomes.com.

Steve Hansen specializes in loan modification assistance and short sales in Contra Costa California. Contra Costa Loan Modification Help, Contra Costa Short Sales. Contra Costa Short Sale Realtor Contra Costa CA Short Sales. Contra Costa Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steve Hansen, J. Rockcliff Realtors, 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 Steve’s personal views and do not reflect the views of J. Rockcliff Realtors.

This information on Contra Costa Short Sale Myth: There Are No Rules Or Guidelines For Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

Who Pays The Costs In A Contra Costa Short Sale?

September 21, 2011
Comments 0


Contra Costa CA – You may wonder why a sales contract says the seller pays for certain costs and yet the bank covers the costs. Here is how it works.

The sales contract may have a certain clause say: “Seller to pay title and seller’s documentary stamp taxes.” How does the bank pay that cost if it says the seller is paying it?

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

In traditional real estate (non short sale), certain costs are normally paid by the seller and other costs by the buyer. For example, the seller doesn’t normally pay the buyer’s home inspector.

In these cases, the seller is actually paying those costs. So sales contracts have always been written like that. On a short sale, the costs are paid by the seller on the closing statement.

But, you aren’t paying them. Instead, they are being subtracted from the sales price. The short sale lender gets what remains after the costs are paid. For example.

Sales price: $100,000.

All costs paid by the seller: $9,000.

Net to the short sale lender: $91,000.

The short sale lender is actually paying these costs by simply accepting the lower amount. That is why it is called a “Short Sale.”

The lender is getting paid less than what they are owed. They would have to pay all of those costs if they foreclosed on the house and then sold it.

So, they might as well pay those costs now with the short sale. 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 steve@stevehansenhomes.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 (925) 639-1979

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

Thinking about a loan modification? Our Contra Costa 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, Steve Hansen.

Steve is a Real Estate Agent at J. Rockcliff Realtors. Contra Costa Short Sales Realtor:

Phone: (925) 639-1979. steve@stevehansenhomes.com.

Caring, Competent Representation

View My homes for sale at SteveHansenHomes.com.

Steve Hansen specializes in loan modification assistance and short sales in Contra Costa California. Contra Costa Loan Modification Help, Contra Costa Short Sales. Contra Costa Short Sale Realtor Contra Costa CA Short Sales. Contra Costa Realtor. Concord, Pleasant Hill, Martinez, Walnut Creek, Danville, Lafayette, Moraga, Orinda.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steve Hansen, J. Rockcliff Realtors, 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 Steve’s personal views and do not reflect the views of J. Rockcliff Realtors.

This information on Who Pays The Costs In A Contra Costa Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Contra Costa Short Sales: Should I renew my insurance when I am short selling my house?

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Contra Costa CA – The Stop Foreclosure Institute recently received a question from Chuck. Here was his question.

“I’m trying to short sale. I received a note from my Insurance agent that my Homeowners insurance will be cancelling as of this month because the insurance company went under.

My insurance agent told me that he can place me with the State run insurance agency for $1,900.00, but I will have to pay the money by the end of the month.

I do have $924 in my lender’s escrow account. What do you think I should do? Chuck.”

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

Here was our answer: Chuck, Let me ask you a question. Who is the beneficiary of any insurance for your home?

If you are short selling, then you are probably upside down. You have no equity. So if the house burns down tomorrow, then you won’t get any money.

Who will get the money? You lender will, that’s who. Keeping the insurance in place benefits you zero. Besides, most lenders will place insurance for you if it expires.

You are probably tight financially. So why take food out of your kid’s mouth to benefit your lender? It doesn’t make sense to me unless you have lots of the extra money.

That $900 can probably be used better elsewhere. Obviously there are risks in not renewing. So, educate yourself on those risks and make the decision for yourself. 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 steve@stevehansenhomes.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 (925) 639-1979

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

Thinking about a loan modification? Our Contra Costa 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, Steve Hansen.

Steve is a Real Estate Agent at J. Rockcliff Realtors. Contra Costa Short Sales Realtor:

Phone: (925) 639-1979. steve@stevehansenhomes.com.

Caring, Competent Representation

View My homes for sale at SteveHansenHomes.com.

Steve Hansen specializes in loan modification assistance and short sales in Contra Costa California. Contra Costa Loan Modification Help, Contra Costa Short Sales. Contra Costa Short Sale Realtor Contra Costa CA Short Sales. Contra Costa Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steve Hansen, J. Rockcliff Realtors, 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 Steve’s personal views and do not reflect the views of J. Rockcliff Realtors.

This information on Contra Costa Short Sales: Should I renew my insurance when I am short selling my house? is provided as a courtesy to our viewers to help them make informed decisions.

Contra Costa Short Sale Myth: Anyone Can Negotiate With The Lender

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Contra Costa CA – Yes, many people think they can negotiate with the lender. But, some of them don’t have the skills necessary to be successful.

Here are a few of the things someone needs before they can negotiate a short sale.

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

They must have the ability to understand HUD-1 Closing Statements. The lenders will want a copy of the closing statement, also call a HUD-1.

Most people in the lender’s short sale departments are very familiar with HUD-1s. The person negotiating with you will need to answer any questions they have about the HUD and know how to make changes to it.

They must know the short sale seller’s rights. Most short sale transactions fall under certain guidelines. The lenders don’t always like to follow those guidelines.

They might ask the seller to accept a promissory note when the guidelines don’t require that. You could be stuck repaying thousands of dollars unnecessarily.

Make sure the person negotiating on your behalf has a complete understanding of your rights.

They must know how short sale negotiators think. Short sale negotiators don’t just approve every short sale.

There is a process they must follow before approving or rejecting a short sale offer. If the person doesn’t understand then they won’t be able to work your file thru the process to receive an approval. 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 steve@stevehansenhomes.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 (925) 639-1979

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

Thinking about a loan modification? Our Contra Costa 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, Steve Hansen.

Steve is a Real Estate Agent at J. Rockcliff Realtors. Contra Costa Short Sales Realtor:

Phone: (925) 639-1979. steve@stevehansenhomes.com.

Caring, Competent Representation

View My homes for sale at SteveHansenHomes.com.

Steve Hansen specializes in loan modification assistance and short sales in Contra Costa California. Contra Costa Loan Modification Help, Contra Costa Short Sales. Contra Costa Short Sale Realtor Contra Costa CA Short Sales. Contra Costa Realtor. Walnut Creek CA

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steve Hansen, J. Rockcliff Realtors, 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 Steve’s personal views and do not reflect the views of J. Rockcliff Realtors.

This information on Contra Costa Short Sale Myth: Anyone Can Negotiate With The Lender is provided as a courtesy to our viewers to help them make informed decisions.

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