How to Choose a Short Sale Agent
There are many nuances to a short sale transaction and every short sale is unique. Therefore the short sale agent you choose can make or break the deal, so choose wisely. When researching for a short sale agent, experience is very important. Research your local market and see who has the other local short sale listings. If you have access to the MLS find out which agents have closed the most short sales. Meet with the perspective agents and make sure you are comfortable with them and don’t be afraid to ask for referrals. Pat Holkesvig and Homes-In-NorCal.com has successfully negotiated numerous Manteca short sales, Lodi short sales, Tracy short sales, Lathrop short sales and Stockton short sales. When you choose Homes-In-NorCal.com to represent you in a short sale transaction, you can have peace of mind knowing you have chosen an expert short sale team who:
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will protect your interests
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knows the local market
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uses online technology to market your home effectively
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is familiar with the paperwork, negotiations and complexity involved
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is familiar with several lenders and their specific short sale process
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will negotiate with the lender(s)
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will stay on top of things throughout the process
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knows how to expedite your transaction
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uses online tools and resources for transaction efficiency and convenience
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is capable of sorting out any problems on a timely basis
Homes-In-NorCal.com is the San Joaquin Central Valley’s short sale specialist! Call Pat Holkesvig at 209-471-6516 or send an email to info@homes-in-stockton.com
Who Owns My Mortgage and Why Do I Need To Know?
Don’t be afraid to ask the customer service representative for your mortgage servicer who owns your mortgage. The owner, who is often referred to as the investor, might be different from the servicing company or bank that collects and processes your payments. Lenders often sell off the servicing rights, too. So it is very common for the owner and the servicer to be different entities. Many people don’t realize, if you have an issue concerning the terms of your note and mortgage you may need to contact the owner, and not the servicer. The owner has the final approval of any loan modifications or short sales approval terms. This can pose a huge problem because so many people have no idea who this man behind the curtain is controlling their fate. Two of the most common mortgage holders are Freddie Mac and Fannie Mae, however there are many more. If you are not sure who owns your mortgage there are a few links that can help you. You can start by checking to see if Freddie Mac or Fannie Mae own your mortgage. If neither Freddie or Fannie owns your mortgage, you can try searching the MERS servicer ID database for other investors. If you are still unable to determine who owns your loan, send a written request for the investor’s contact information to your mortgage servicer.
Are Banks Dumping Short Sales For Less Lucrative Foreclosures?
Are banks purposely rejecting short sales in favor of less profitable foreclosures? Maybe so, but why? Some say it may be for reasons such as avoiding fraud or favorable accounting rules allowing banks to foreclose on a home without having to write down a loss until that home is sold as opposed marking the loss on short sales upon approval. However, if this is the case and the bank knows they have no intention of approving a short sale, why do they not only allow but encourage the seller to go through months of the process?
Each month that a seller is delinquent further contributes to the decline of that seller’s credit. Banks require homeowners to be delinquent and they must be rejected for a modification prior to entering the short sale process. Then, banks take many months to process short sales, propose extremely high counter offers or frequently claim to lose documents that have already been submitted. The customer service workers often say they are poorly trained and can rarely answer any inquiries regarding short sale status. Upon receiving denial letters banks will not provide precise reasons or numbers. Sellers and buyers are left wondering how and why the home foreclosed.
Does any of this sound familiar to you? Are you a buyer or seller who has been through a similar scenario? If so, make your voice heard. The attached New York Times article is looking for your short sale stories.
Who Owns My Mortgage and Why Do I Need To Know?
Don’t be afraid to ask the customer service representative for your mortgage servicer who owns your mortgage. The owner, who is often referred to as the investor, might be different from the servicing... Continue reading...
How to Choose a Short Sale Agent
There are many nuances to a short sale transaction and every short sale is unique. Therefore the short sale agent you choose can make or break the deal, so choose wisely. When researching for a short... Continue reading...
Are Banks Dumping Short Sales For Less Lucrative Foreclosures?
Are banks purposely rejecting short sales in favor of less profitable foreclosures? Maybe so, but why? Some say it may be for reasons such as avoiding fraud or favorable accounting rules allowing banks... Continue reading...
Stockton Short Sale Homes Finally Moving!
The short sale process in Stockton California can be very lengthy. Good news is that we are seeing approvals for short sales in Stockton increasing. Especially true if the home was purchased using... Continue reading...
Central Valley Short Sale Specialist
Received approval on 3 short sales last week!! Have to keep pushing the banks. Definitely need to be the squeaky wheel! The short sale process can be trying for both buyers and... Continue reading...
Stockton Short Sale Homes Finally Moving!
The short sale process in Stockton California can be very lengthy. Good news is that we are seeing approvals for short sales in Stockton increasing. Especially true if the home was purchased using... Continue reading...
Mortgage Rates at Record Lows! 30 Year Fixed 4.01% & 15 Year Fixed 3.28%
Interest rates for 30-year fixed rates reached 4.01% last week per FreddieMac. The 15-year rate reached a record low3.28%. This news came after the Federal Reserve announced it would purchase... Continue reading...
The Number of Central Valley REOs Expected to Increase as Robo Signing Debacle is Resolved
Central Valley REOs (Real Estate Owned) have become a very hot topic of late and with good reason. Central Valley REOs and Central Valley short sales continue to dominate the Central Valley Real Estate... Continue reading...
Central Valley Short Sale Volume Increasing!
Lenders are having much more success in modifying loans for homeowners when they are forced on them. In the State of Connecticut 9,400 homeowners who joined in the modification program thru January 31,... Continue reading...
Conforming loan limits expiring September 30, 2011
Current conforming loan limits are scheduled to expire Friday, Sept. 30. The maximum FHA, Fannie Mae, and Freddie Mac conforming loan limit will decline to $625,500 beginning Oct. 1, 2011, from... Continue reading...
Stockton Short Sale Listings for the week of Sep 28, 2011
View all Stockton short sales listings. We process short sale properties in Stockton CA. The Stockton homes short sale process can be a challenging. Make sure you work with an experienced Stockton... Continue reading...
Central Valley California Real Estate Trends
There are 59,383 properties in foreclosure statewide. This means 1 in every 226 housing units received a foreclosure filing in August 2011. In San Joaquin County, 1 in every 132 housing units... Continue reading...
Stockton, CA, Stockton Home for Sale & Stockton Real Estate, 3546 Quail Lakes Dr, Stockton, CA, 95207
3546 Quail Lakes Dr, Stockton, CA, 95207.mp4 Watch on Posterous For information on this and all the <a href=“http://www.homes-in-stockton.com/stockton-property-search.php” rel=”nofollow”>Stockton... Continue reading...
Stockton, CA, Stockton Home for Sale & Stockton Real Estate, 3057, Sea Gull Ln., Stockton, CA, 95219
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Stockton, CA, Stockton Home for Sale & Stockton Real Estate, 2747, Tecumseh Ln., Stockton, CA, 95206
2747, Tecumseh Ln., Stockton, CA, 95206.mp4 Watch on Posterous For information on this and all the <a href=“http://www.homes-in-stockton.com/stockton-property-search.php” rel=”nofollow”>Stockton... Continue reading...
Stockton, CA, Stockton Home for Sale & Stockton Real Estate, 9023 Warm Springs Cir, Stockton, CA, 95210
9023 Warm Springs Cir, Stockton, CA, 95210.mp4 Watch on Posterous For information on this and all the <a href=“http://www.homes-in-stockton.com/stockton-property-search.php” rel=”nofollow”>Stockton... Continue reading...
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