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May 2012 - Posts

How to Avoid Getting into a Jam with Second Mortgage Negotiations on Hollister Short Sales
Hollister CA – We received a question from another agent on short sale negotiations. Here is her email. "I am having a problem on a short sale and would like to know how to avoid it next time. "The first mortgage gave me a price and a Read More...
A Rant about Lender Incompetence on Hollister Short Sales
Hollister CA – I am so sick of the incompetence and arrogance of people in the banking industry! It seems like the incompetence never ends. We had a short sale closing last week. The underwriter for the buyer's lender didn't like the way Read More...
A New Strategy to Make Hollister Short Sales Faster and Easier
Hollister CA – Yesterday we discussed a serious problem affecting the short sale industry. Today we're going to lay out a strategy short sale sellers can use to help solve this problem. Click here to discover how other sellers successfully executed Read More...
Why Isn't Anyone Holding These People Accountable on Hollister Short Sales?
Hollister CA – Are you thinking about short selling your home? Here's a way that any seller can help with the short sale. First off, the biggest problem is that there is very little accountability in the short sale industry. Click here to discover Read More...
A Few Instances Where You May Owe Income Taxes after a Hollister Short Sale
Hollister CA – The Mortgage Forgiveness Debt Relief Act of 2007 allows most people to short sale a home and not owe any income taxes on the forgiven debt. However, there are a few situations where a homeowner may still owe taxes after a short sale. Read More...
Hollister Short Sales: How Does the Mortgage Forgiveness Debt Relief Act Help You?
Hollister CA – In our last blog post we explained that the Mortgage Forgiveness Debt Relief Act does not automatically release you from your mortgage debt after a short sale. So what does this law cover? What does it do? I'll answer that question Read More...
A Common Hollister Short Sale Myth: Everyone Who Short Sells His Home Will Be Released from the Debt
Hollister CA – Be careful from who you take short sale advice. Unfortunately, not everyone knows and understands short sales. Here's an example of the myths propagated by people who think they know and understand short sales. Click here to discover Read More...
Hollister Short Sale Help: Having Financial Problems? Tell Debt Collectors to "Get Lost"
Hollister CA – Most of the short sale sellers we help are selling their homes because of financial problems. They can't afford the payments and thus sell their home to avoid foreclosure. Click here to discover how other sellers successfully Read More...
Here's Proof That Your Bank Actually Wants You to Short Sale Your Hollister Home
Hollister CA – A recent article in the Tampa Bay Times shows how much lenders prefer short sales to a foreclosure. It discussed how Bank of America recently came out with new short sale incentives. Bank of America is willing to pay borrowers up Read More...
Will My Lender Sue Me after a Hollister Short Sale?
Hollister CA – Many people are concerned about a potential lawsuit after a short sale. Many people ask us, "My lender just lost $150,000. Aren't the suits going to be angry that they're losing that much money? Won't they sue me?" Read More...
Will I Have My Wages Garnished after a Hollister Short Sale?
Hollister CA – Many people are concerned about a deficiency after a short sale. They are afraid their bank may garnish all their wages. It's scary to think that at any moment your bank could grab every dime you make and leave you broke. Most Read More...
Buying a Hollister Short Sale? Have This Person Help You
Hollister CA – Thinking of buying a Hollister Short Sale? The short sale process is difficult to navigate. The first thing you should do is make sure the agent who has the house for sale knows what he's doing. Click here to discover how other Read More...
Have This Person Help You When Buying a Hollister Short Sale
Hollister CA – Thinking of buying a Hollister Short Sale? The short sale process is difficult to navigate. The first thing you should do is make sure the agent who has the house for sale knows what he's doing. Click here to discover how other Read More...
Hollister Short Sale Myth: The Mortgage Forgiveness Law Means Everyone Gets to Short Sale with No Deficiency
Hollister CA – I recently heard another so-called short sale expert say that the Federal Mortgage Forgiveness Debt Relief Act made it so everyone gets to short sale with no deficiency. The unfortunate news is that this is not true. In some states, Read More...
Hollister Short Sales: Why Do Bank Negotiators Break the Rules?
Hollister CA – We had a negotiator at Bank of America try to push us around a little while ago. We’ve studied and analyzed all the short sale guidelines and rules. This was an FHA loan and therefore would be governed by FHA’s Short Sale Read More...
Don’t Accept a Promissory Note When You Short Sale Your Hollister Home
Hollister CA – Many lenders ask for a promissory note on short sales. This is especially true if the lender has Private Mortgage Insurance (also called PMI) that has to approve the short sale. The PMI companies know homeowners will do anything to Read More...
Hollister Short Sale Deficiencies on "Sliced & Diced" Loans?
Hollister CA – Another common type of loan that does not usually have a deficiency is a “Sliced and Diced” loan. A “Sliced and Diced” loan is a loan that has been securitized along with a bundle of other loans. Here is how Read More...
Will I Owe a Deficiency on a Hollister Short Sale if I Have a USDA Loan?
Hollister CA – Another common type of loan that does not usually have a deficiency is a USDA loan. The USDA loan program was created to make it easier for people who lived in rural areas to buy their own homes. Click here to discover how other sellers Read More...
Will I Owe a Deficiency on a Hollister Short Sale if I Have a VA Loan?
Hollister CA – Another common type of loan that does not usually have a deficiency is a VA loan. But how do you determine whether or not you have a VA loan? Click here to discover how other sellers successfully executed a short sale and avoided Read More...
Will I Owe a Deficiency on a Hollister Short Sale if I Have an FHA Loan?
Hollister CA – The next most common type of loan that does not usually have a deficiency is an FHA loan. But how do you determine whether or not you have an FHA loan? Click here to discover how other sellers successfully executed a short sale and Read More...
A Common Hollister Short Sales: The Most Common Types of Loan That Do Not Require a Deficiency
Hollister CA – Let’s talk about the most common types of loans that do not require a deficiency on a short sale. The first common loan type is a Fannie Mae or Freddie Mac loan. I’ll call them Fannie and Freddie in this post. Freddie Read More...
Common Hollister Short Sale Myth: You Don’t Know if Your Lender Will Want a Deficiency until We Start the Short Sale Process
Hollister CA – I'm about to explain how the different types of loans impact whether or not you will have a deficiency after you short sale your house, but I first want to bust the common myth that you won’t know if you will have a deficiency Read More...