Will there be an extension of the Mortgage Forgiveness Debt Relief Act of 2007 is a post from: Torrance - Redondo Beach Real Estate-Torrance Redondo Beach Homes For Sale

Chase Bank – Loan Modifications and Short Sales in California.

Chase has complete 106,793 Loan Modifications

From my understanding….. If your loan modification does get approved the chase employee that helped you does get some sort of bonus.  That is great news.

Currently there are 18 Loan modification centers in California. The 2 that are closest to me are Los Angeles CA and Lakewood CA.

I highly advise you go into one of the Chase locations that is closest to you. Set up an appointment and make sure you bring all of the necessary paperwork.

Download the Chase Loan Modification Package

Borrowers_Assistance_Form_

Check out this Chase Loan Modification Video.

Chase Short Sale Information

• Chase has completed 52,007 Short Sales
• Chase has been known to offer between $3,000 to $35,000 to homeowners that opt to complete a short sale.  (Make sure your opening you letters because that is how you will be notified.)

Short Sale Information Packet

If you have not previously completed loan modification request with the supporting Financial Information and Hardship Affidavit request, you should start here. This packet includes both the information regarding your financial situation, your hardship and the details required for the short sale.

Chase Short Sale Package

Short Sale – Supplemental Information Only

If you have already been considered eligible for loan modification or submitted a request with supporting documents and are waiting to determine eligibility and now want consideration for a Short Sale, please complete the Short Sale Supplemental Information Request.

Chase Short Sale Supplement

As with most banks Chase would like to see you make an attempt at doing a loan modification.  This is not required…  What ever you do don’t forget who you are talking to.  They are a debt collector and yes they are looking to collect a debt.

How to Avoid Scams

I like this video that Chase has created and I think you may might as well.  Check out this video and please share this with people you know that could learn from it.

I find Chase is an easy bank to work with on Short sales and Loan Modifications.

Contact me Below for free assistance and advise on your Chase Loans.

Does Chase Bank do Loan Modifications and short sales in California? is a post from: Torrance - Redondo Beach Real Estate-Torrance Redondo Beach Homes For Sale

Having helped as many families as I have avoid foreclosure after reading this report explains why so many other people have slammed the door in my face. Ignored my phone calls and basically lied to me about there situation. Its funny because I’m only trying to help them not lose the house. But no matter how well intentioned I am it doesn’t matter because I wasn’t telling them what they want to hear.

Why do you think thousands of people daily are spending all of their money hiring these fraudulent companies that state they will save their home. These attorneys / loan mod companies are robbing people blind. Why? Because people only hear what they want to hear! This report helped me understand things a little better.

Lets talk about your situation and maybe I can give you some information that you can use.

Upside Down On Your California House and Still not walking away? I think I know why is a post from: Torrance - Redondo Beach Real Estate-Torrance Redondo Beach Homes For Sale

Seventy-two percent of homeowners say they are satisfied with homeownership, according to a recent survey of more than 1,400 homeowners conducted by HomeGain, a provider of online marketing programs that connect agents and brokers with home buyers and sellers. Home gain is a lead capture site for buyers looking to buy. If you bought a house and then your back online checking prices I’m thinking there is a little bit of buyers remorse.

Among the 28 percent who said they were dissatisfied, 63 percent cited price depreciation as the main reason for their dissatisfaction. The prices are still going down in many areas.

Other dissatisfied homeowners cited the costs of owning and maintaining a home as major reasons for their dissatisfaction. But wait…isn’t owning a home feel in California?

Fifty-five percent of homeowners ages 18 to 25 were dissatisfied with homeownership, while 24 percent of those 55 and older expressed dissatisfaction with being a homeowner.

The rate trends steadily down as prices rise, with the highest category in the survey – homes valued at more than $801,000 – bringing in the lowest satisfaction rate – 69 percent.

Sixty-seven percent of dissatisfied homeowners with homes valued more than $801,000 cited price depreciation as a primary source of their discontent.

If your going to buy, buy for the long term.  Forget about whats happening around you.  Focus on getting the mortgage paid off.

Read full article

Short Sale purchasers had 72 % Satisfation Rate is a post from: Torrance - Redondo Beach Real Estate-Torrance Redondo Beach Homes For Sale

Homeowners need to start interviewing more short sale agents. Don’t waste your time with any realtors that haven’t completed at least 30 short sale transactions. If a realtor keeps talking about there designations they don’t have any experience. If your going to invest your time in doing a short sale you want to make sure it closes.

Short sale designation Hype is a post from: Torrance - Redondo Beach Real Estate-Torrance Redondo Beach Homes For Sale

Having helped as many families as I have avoid foreclosure after reading this report explains why so many of them slam the door in my face. Its funny because I’m only trying to help them not lose the house. But no matter how clever my script was as to why I was there 98% of them didn’t care.

Underwater and still not walking away is a post from: Torrance - Redondo Beach Real Estate-Torrance Redondo Beach Homes For Sale

Maybe you can afford your payments but your just not happy with you situation.

Or, your barely getting by and your tired. Tired of never having enough money, tired of knowing your house is so underwater your throwing your money away.

What ever your reason, its your financial future that’s at risk!

I have saved People Hundreds of thousands of dollars helping them short sell there homes.

Not only is this financially rewarding for them, but emotionally rewarding as well!

Here is a short list of reasons I have helped others with completing a short sale

• I just don’t want this house anymore – Great, lets get you moving!
• I don’t want my kids to go to the schools where I live – This is huge…Many school districts are not allowing kids to leave there school districts. Due to the drop in home prices many people are stuck. Not anymore!
• I can rent for much less in a better neighborhood – Very true. Try calling on for rent signs in the neighborhoods of your choice. You may be surprised
• I hate the long drive to work – Being a dad, this hits home for me. I recent helped a family sell there property in Palmdale so they could move closer to dads work in Los Angeles. Not only saving him 3 hours of traffic a day, since he lives closer to work he’s able spend more time with this family and not on the road.
• I qualified for a Loan Modification but now I don’t want this house – It happens, especially when they see how much they are paying in the end.
• I hate my neighbors! Who wants to bust there butt all week to come home and be pissed off? Not me.

You may be saying to yourself after reading my short list “You cant do that!”

Yes you can!

I have completed a short sale for everyone of those hardships. They are just reworded sometimes

You Can do A Real Estate Short Sale

Don’t ever think you are just stuck! Because your not!

If you want these kind of Results or you want to bounce some Ideas off me

Contact Me below.

Strategic Default Information is a post from: Torrance - Redondo Beach Real Estate-Torrance Redondo Beach Homes For Sale

A Short Sale is not for everyone. You need a professional that will explain everything to you so you can make the best choices for you and your family.  I created this video to give you one scenario where a short sale would not benefit a homeowner in Los Angeles.

Everyone’s situation is unique.

This Homeowner is still residing in the property 5 months later. Bankruptcy was a better option.

Please contact me below to Schedule a 1 hour Consultation.

Is a Short Sale My Best Option? is a post from: Torrance - Redondo Beach Real Estate-Torrance Redondo Beach Homes For Sale

Understand that if you are going to do a short sale don’t expect your lender to be sending you a refund check in the mail.  Technically, I’m not allowed to tell you to stop paying your lender so lets take a look at both sides of the equation.

People are doing short sales for many different reasons.  Some have too, and others want to.  Not because they can’t afford the property but mainly due to getting out from under the negative equity.

Keeping Mortgage Payments Current

Benefit

• Your credit will not be effected
• No foreclosure Notices will be issued
• Have as much time as you like to complete the process
• Buy again within a shorter amount of time

Downside

• You will never get that money back
• Lenders will not take you seriously and will drag this whole process out
• Some lenders (FHA and the new HAFA program) require you to become late. Many lenders have this requirement.

Not Making your Mortgage Payments

Benefit

• You can save money and live in the property for free during the short sale process (approx6-12 months)
  
• Easier to qualify for a short sale when your behind on payments

Downside

• Negative credit reporting
• Foreclosure process will be initiated
• May be more difficult to rent after the sale.

So where do you fit in to the list above?  For some their credit rating is there lively hood…… Others, couldn’t give a Crap!

What is your credit worth to you?

$15,000, $25,000  $50,000

On the short sales that I have completed the difference between the sales price and the loan balance has been between $160,000 to over $250,000

What could you do with that money? I am changing lives every day!

A short sale from start to finish will take no less than 60 days minimum.  And that is if you really want out quickly and Wachovia or Wells Fargo is your lender. All of the others will take more time to process.

I don’t recommend moving out early, I encourage everyone I help to stay in the property and maintain it to the best of their ability.  An average short sale in Los Angeles County will take about 9 months

Contact Me for a Free 1 Hour Consultation- You Need to have a Strategy!

Should I keep Paying my Mortgage if I’m going to do a Short Sale? is a post from: Torrance - Redondo Beach Real Estate-Torrance Redondo Beach Homes For Sale

Redondo Beach Photo

Bank of America is a very short sale friendly bank.

Currently in Redondo Beach Bank of America has 67 active Notice of Defaults/ Trustee sales notices. As of today there are 180 ACTIVE foreclosures in Redondo Beach per Foreclosure Radar. That is a whole lot of foreclosures for an upper middle class city.

Foreclosure radar provides foreclosure listings in California, and includes auction tracking, management and analysis.  If you would like a list send me an email and I will send it to you.

What you’re not going to see is the 100′s  and 100′s of other families that have stopped making payments and are either hoping for a loan modification or they waiting for a Notice of Default so they can start the short sale process.

Bank of America makes every effort with in reason to assist homeowners in avoiding foreclosure but you need to start the process before the trustee sale date is published to give yourself a better chance at having a successful short sale.

Ideally right after the Notice of default is filed you list the property with a Short Sale Specialist like myself.

Why wait until the Notice of default is filed?  I’m all about helping you the homeowner work the system to your benefit so you can save money.

Market the property for 15 to 30 days

Priced aggressively we should have offers quickly.  No need for open house or any of that stuff. Properties priced right on the Multiple listing service are in high demand!

(I’m not looking to be your neighborhood specialist!  No for sale sign is needed either!)

Once an acceptable offer is received the short sale paperwork with the offer will be sent to the bank.

Did I mention there isn’t anything Short about a Short Sale with Bank of America?

Or any other bank for that matter!

Expect about 15 days for the bank to send out an appraiser and another 45 day for a ya or nay!  10-15 days for an approval from there and then we open escrow/ escrow begins.  Usually nothing less then 30 days for escrow.

I hope you will stay in the property during this time, save money and relax while I handle the bank!

In a perfect world from listing to close you’re looking at 60 -75 Days

In my world it can take 60-180 Days to complete a short sale.

Factors include:

• Property Condition
• Liens
• Judgments

Bank of America short sale information

–I don’t work for the Bank!  I work for you the homeowner…

Call me and I will help you differentiate the bull shit from the reality..  Excuse my language but I’m just keepin it real.

It seems like every agent is a Short Sale specialist these days.

Check out my Post on my experience working with Bank of America.

Is a short sale possible in Redondo Beach with Bank of America is a post from: Torrance - Redondo Beach Real Estate-Torrance Redondo Beach Homes For Sale