Hollister 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 selling? Call me 831-636-8858
When we talk, I will explain how the process works in detail and answer any questions you may have.
Thanks for reading this, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858. Israel@ighomes.com
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Hollister 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.
Hollister CA –
If you have a foreclosure or short sale on your credit report, then it will lower your credit score quickly. In the near term, the decrease will be much more than it will be a few months down the road when it starts to inch its way back up.
The credit reporting bureaus weigh the most recent activity more heavily than the distant past.
Taking action now to build up the most recent activity is a great way to help your score rebound. So for now, here are the things you should be doing from this day forward to keep your score improving:
First, keep your report clean and clear of NEW negative items. This means that you need to pay on time, every time on open credit. You must not have any new collection accounts or charge offs.
Don’t try to open ANY new credit – this means new car loans, or a Target charge card, or any new opportunity to open any other new credit. Don’t do it.
After a foreclosure or a short sale, you want anything that appears on your credit report to be spotless – that the short sale or foreclosure was a blip on the radar, the past, out of the ordinary for you.
Re-build your credit report with favorable credit. Ask your bank if you can use a secured Visa or MasterCard through them.
A secured Visa or MasterCard is much like a debit card – you preload it with the amount you want available. Unlike a debit card, a secured credit card will get reported to the credit bureaus, and this will help to rebuild your score.
Obviously, the best way to deal with bad credit scores is to avoid it in the first place if possible. If you have a history that needs a bit of polishing, hang in there.
Follow the steps that I’ve written about, stay on track, you will be able to look back and feel a sense of pride about your accomplishments. 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
. 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 (831) 636-8858
Thanks for reading this, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858.
.
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Fixing Credit After A Hollister Short Sale Step 10: Maintaining Good Credit is provided as a courtesy to our viewers to help them make informed decisions.
Hollister CA – The Stop Foreclosure Institute recently received a question about renting a home in foreclosure.
Short Sale Question: I am selling 2 of homes that are short sales. I would like to rent the homes during the foreclosure process. I will continue to pay the home owners association fees. I will not be paying the mortgage.
Is it legal to do this? Is there any liability that comes with it?
Here was our answer to them. The Stop Foreclosure Institute is not a law firm. Therefore, we can’t answer as to whether or not it is legal. We recommend that you check with a lawyer before making a decision.
We do know that there are laws forbidding that practice in many states. For example, Florida recently passed a law that stated that you had to notify any potential renter whether or not the home was in foreclosure before renting.
From what we have heard about the law, if you lease a property in foreclosure and don't tell the tenants, then it is a criminal offense.
If it was a problem in Florida, then it was a problem in other states and they probably passed similar laws.
We have seen cases in the past where a homeowner sold their home as “Owner Financing.
The home was in foreclosure and buyers filed a police report. The sheriff’s office investigated the homeowner for fraud. The people who thought they were buying the home paid the owner a large down payment.
They didn’t know the home was in foreclosure. He disappeared with their money and they were kicked out by the bank.
We don’t know what ended up happening. The bottom line is that anything fishy can have future repercussions. So check with a lawyer to make sure you won’t have any problems. 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
. 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 (831) 636-8858
Thanks for reading this, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858.
.
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Hollister Short Sales: Can I Rent My Home If It Is In Foreclosure? is provided as a courtesy to our viewers to help them make informed decisions.
Hollister CA – In this case I would recommend you sell the house. Now, if you are reading this blog, then you must be researching a short sale.
Which means that you are probably upside down on the home. You have three options.
Option #1: Let your lender foreclose on the home. You just stop making the payments and surrender the home to your lender.
Option #2: Short Sale the house and get the debt wiped out. A short sale offers the following benefits over a foreclosure.
Issue: Can I get a Future Fannie Mae Loan?
Foreclosure: The current Fannie Mae Guidelines require you to wait 5-7 years before you can buy another home with a Fannie Mae Loan. Most other banks and lenders have the same or even stricter procedures.
Short Sale: If you are back on your feet 2 years after the short sale, then Fannie Mae guidelines allow you to get a loan from them.
Issue: Can I get a future loan from any mortgage company?
Foreclosure: Any future application will require you to answer the question, "Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?" you'll have to answer that question yes.
Short Sale: You can state “No” because you short sold your home. You only have to say yes if the bank completes the foreclosure.
Issue: Credit Score Impact.
Foreclosure: Your score is typically lowered by 250 to 300 points, or even more. This often stays on your credit score for over 3 years.
Short Sale: Only late payments show up. After a short sale, the mortgage is normally reported as "paid in full, settled." This lowers your score as little as 50 points if all other payments are being made. Oftentimes, this is off your credit report in as little as 12 months.
Issue: Will I owe the bank any money for the shortfall?
Foreclosure: Many lenders take 12-18 months to foreclose upon a property and resell it. This dramatically increases the loss and makes any deficiency judgment potentially bigger.
Short Sale: Few lenders ask for a promissory note on a short sale. As an example, on one short sale, the bank lost over $120,000. They settled with the seller for $25,000 to be repaid over 15 years with zero interest. The seller's monthly payment was only $138,89. You can often even negotiate and have the promissory note waived.
Option #3: Rent the property. This is a good way to earn some extra money. However, if you are upside down, then it is more than likely that the rent will not cover the mortgage. That means someone will have to write a check each month covering the loss. 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
. 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 (831) 636-8858
Thanks for reading this, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858.
.
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Hollister Short Sales: Getting divorced, neither can afford, what to do? is provided as a courtesy to our viewers to help them make informed decisions.
Hollister CA – Short Sales can be tough. Many buyers don't understand the process and think that since it is a buyer's market, then they set the rules. That's not the case.
You, the seller set the rules. After all, you still own the property. But, more importantly, you must set the rules for offers. If you don't then you dramatically reduce your odds of successfully short selling your property.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is what you should think about before you take your home off of the market.
1. You should only accept and work with one offer at a time. If you accept more than one offer at a time, then buyers get mad.
The primary offer might get angry because you accepted a backup offer. In addition, multiple offers confuse everyone involved including the short sale lender.
2. You should make sure the buyer can get financed for a loan. That means the buyer should give you genuine proof of that, whether a pre-approval or pre-qualification.
3. We recommend that the buyer inspect the home before the sales contract is signed. If any unexpected problems come up (and they do), then you can adjust the offer price that is submitted to the short sale lender.
This saves from having to negotiate the price again if a problem is found after the short sale is approved. Besides, the lender is more likely to accept a lower price if you send them a copy of the inspection.
4. The buyer agrees to wait the necessary 60-90 days for an answer on the short sale. That time will depend on the lender. Some lenders are fast and some are slow.
5. The buyer should put a reasonable deposit in escrow to keep them on board for the necessary time required for the short sale to be approved.
These are what we have determined to be necessary for a successful short sale. If you don't have a serious buyer then you are wasting your time and your agent's time as well.
Many buyers and their agents think that since a property is a short sale, then offers can be treated very casually. This only hurts the home sellers trying to avoid foreclosure when the buyers can't get a loan or back out after the inspection.
Helping someone avoid foreclosure is serious business. That's why we treat it as such. 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
. 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 (831) 636-8858
Discover how other sellers successfully completed a short sale and request a free consultation by
clicking here.
Thinking about a loan modification? Our Hollister 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, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858.
.
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on What You Should Look For In A Buyer Of Your Hollister Short Sale Property is provided as a courtesy to our viewers to help them make informed decisions.
Hollister CA – The Stop Foreclosure Institute recently received a question from Paul. Here is Paul's Question.
"I am thinking about a short sale, but I am behind on my property taxes. Will I still have to pay them if I short sale my home? Max."
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is the answer to Paul's Question: In most cases your lender will pay those property taxes. Property taxes are a first priority lien on a property.
That means that if a property is foreclosed upon, then they still have to be paid. They don’t go away for any reason.
This is also why most lenders want to charge you monthly and then pay the property taxes themselves. They know that the taxes are a big bill that only comes once a year.
Not everyone can afford that big bill. Because your lender knows they will still have to pay the taxes after a foreclosure, they are willing to pay them during a short sale.
A foreclosure is a liquidation of the property to simply get what they can and move on. A short sale has been proven to net them more money than a foreclosure.
So if they are liquidating the property, why net more money from the sale with a short sale and avoid a foreclosure? That’s why they will pay the taxes when you short sale.
Every short sale the Stop Foreclosure Institute has sold resulted in the lender paying the property taxes that were owed. In some cases they paid 2-3 years of property taxes. 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
. 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 (831) 636-8858
Discover how other sellers successfully completed a short sale and request a free consultation by
clicking here.
Thinking about a loan modification? Our Hollister 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, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858.
.
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Will I Still Have To Pay Property Taxes If I Do A Hollister Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.
Hollister CA – The Stop Foreclosure Institute recently received a question from Mau.
Here is Mau's Question.
"Is it legal for a short sale seller to buy the house he is selling on short to reduce his mortgage loan?” asked Mau.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here was our answer. We don’t know of any law on the books that forbids a person from buying a home they are short selling. Here is what we do know.
Most banks and lenders don’t allow it. If the short sale negotiator sees a sales contract with you as the buyer, then they won’t approve the short sale.
Sure, you could do fishy paperwork to buy the home yourself. But, you risk getting in trouble for fraud if you were caught.
I think the biggest reason people aren’t trying this is because they can’t get a loan after a short sale. You aren’t able to buy another house for 2 years after a short sale.
There is an FHA loan program that allows you to buy after a short sale. But, one of the stipulations is that you must be buying a smaller or inferior home.
If you are looking to reduce your mortgage loan, then do it the legal way. Get a loan modification with your current lender. Or, short sale your current home, rent for 2 years, and then buy a new home.
That allows you to wipe out the upside down debt and move on with your life. And best of all, you aren’t at risk of going to jail for fraud. 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
. 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 (831) 636-8858
Discover how other sellers successfully completed a short sale and request a free consultation by
clicking here.
Thinking about a loan modification? Our Hollister 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, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858.
.
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Hollister Short Sales: Is It Legal For A Seller to Buy The House He Is Short Selling? is provided as a courtesy to our viewers to help them make informed decisions.
Hollister CA – The Stop Foreclosure Institute recently received this question from Tamra. Here is Tamra's Question.
"I would like to hire you to help me short sale my house. However, I am concerned that if the short sale doesn't go thru, then I will still owe you money. My friend told me to check on that before I started.
Is it true that I would owe you money if the short sale didn't go thru? Tamra."
Here is the answer to Tamra's question.
Tamra, No, you will not have to pay anything if the short sale doesn't go thru. We only get paid when the short sale is approved and the home sells.
Until then, there is no cost to you. In addition, all the short sales we have sold don't require the seller to pay anything.
What usually happens is that we send your lender a sample closing statement. It has all the costs itemized including our commission.
If your lender is ok with the numbers, then they approve the short sale. If not, then they tell us what needs to be changed.
It is a back and forth process until we come to an agreement. The bottom line is that a short sale will not cost you anything.
The only time you would be paying money is if your lender demands a promissory note, or you live in a state where they have the right to collect after a short sale or foreclosure.
However, even in those states in most cases we are able to negotiate a complete release on the debt. 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 Israel@ighomes.com
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 (831) 636-8858
Discover how other sellers successfully completed a short sale and request a free consultation by
Thanks for reading this, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858.
View My homes for sale at www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Hollister Short Sale Question: What Do I Owe You If The Short Sales Isn't Successful? is provided as a courtesy to our viewers to help them make informed decisions.
Hollister CA – The Stop Foreclosure Institute received a few responses from yesterday’s blog post. Most of the questions went something like this.
"I think a lender would be stupid to approve an investment property short sale for a wealthy person. If I was the lender I would sue them for the loss. Jan.”
The bottom line is that people didn’t think a lender would allow a wealthy person to walk away from the debt on an investment property.
Here are a few reasons that a lenders will allow a wealthy investor to walk away from an upside down investment property.
Lenders know that if they can give a customer what they want, then it will help them. If they don’t give a customer what they want, then everything turns into a fight.
Some homeowners will hire a lawyer to review every clause in the mortgage. They will check to make sure that each clause of the mortgage meets every single conceivable state and federal law.
Other people will declare bankruptcy to avoid paying the debt. This is the biggest impediment keeping lenders from collecting on a debt.
Debt is very hard to collect even in court. In fact, only around 8-10% of all judgments are ever collected. That means a lot of people and lenders spend thousands of dollars in court getting a judgment, only to never collect the money.
This is one of the reasons that a debt collection company recently bought $20 Million Dollars worth of Deficiency Judgments for $150,000. I don’t know which lender sold them, but apparently that is all they thought they were worth.
I hope this helps you see why a lender would find it simpler to approve a short sale rather than pursuing a debtor in the hopes of collecting on the deficiency.
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 Israel@ighomes.com
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 (831) 636-8858
Thinking about a loan modification? Our Hollister loan modification kit has the instructions you will need to get a loan modification approved with your bank.
www.bestREOhomes.com.
here to request a copy.
Thanks for reading this, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858.
.
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Hollister Short Sales: How To Look At A Short Sale From The Lender’s Perspective is provided as a courtesy to our viewers to help them make informed decisions.
[caption id="attachment_1837" align="alignright" width="300" caption="Your upside down home should not be a burden to you. "]
[/caption]Hollister CA – We at the Stop Foreclosure Institute receive calls all the time that go something like this “I have fought the bank for year and half, and after paying thousands and thousands I have decided to short sale, can you help me”?
Because of this, I decided to break down the reasons to short sale your home. In addition I added in a few reasons you should NOT consider A Short Sale:
Do NOT Short Sale if the value of your home is appreciating more then 5% a year. I have found that once you are upside down on your home more than 10%, then in most cases the housing market has dug a hole that no amount of financial superman work can get you out of.
Short Sale if you are a financial superman. If you are a CPA or Harvard Grad Number Cruncher, then you understand that numbers are more important than warm and fuzzy thinking.
Take a look at GM and all the businesses that go “Short Sale.” You can call it that. They know the numbers the numbers are what matter to them. If you are too far upside down, then is better to walk away from the debt and start over.
Do NOT Short Sale if you are going to make TONS of money in the future! You can probably convince your lender to grant you a loan modification and get back on your feet.
Short Sale if you can find a rental home comparable to your home. You have to live somewhere. We have seen lots of homeowners find a nicer home to rent for a lower monthly payment than their “upside down” home.
They Short Sold their house and were able to live a happier, more stress free life afterwards.
Do NOT Short Sale if you think that you are different from large Wall Street Firms that willingly walk away from their obligations.
You believe that your finances should not be run like a business, you should never retire, and that people in debt deserve to work 80 hours a week for the rest of their life until they pay off their debt.
This one drives me nuts. It is ok for Morgan Stanley to strategically walk away from their obligations on 5 San Francisco Towers they bought, but it’s not ok for “Average Joe Homeowner” to walk away from his upside down house?
What is wrong with the moral compass here? It is ok for a business to re-negotiate their debts with banks, but it is wrong for a homeowner to do it!
Are you crazy? Why do banks write off millions in debt for businesses while the homeowners should pay forever and never get a real loan mod? I guess they figure that homeowners not good business people and will allow the bank to push them around.
As you can see, when you run the numbers Short Sales almost ALWAYS make financial sense. Staying in a home that is upside down makes lousy financial sense, unless you get an awesome loan mod.
Now those are my opinions, and those points do not apply to every situation. What I am saying is that you really should look at your home as a financial investment, NOT a stone around your neck.
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
. 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 (831) 636-8858
Thanks for reading this, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858.
.
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Hollister Short Sales: Should I Short Sale or Keep trying to Save the House? is provided as a courtesy to our viewers to help them make informed decisions.
Hollister CA – Many agents get frustrated because they know who the short sale negotiator is, but they don’t have any way to communicate with them.
Most short sale negotiators communicate by email. But, they usually wait until they are well into the transaction before they give you their e-mail.
Here is a technique that you can use to find their e-mail. In most cases their e-mail is their name. For example, James Rush’s e-mail would by james.rush @ bankofamerica.com.
We try james.rush, jim.rush, jim.a.rush, james.a.rush, and run thru all the middle initials in the alphabet. The bad e-mails get a notification that they couldn’t get through.
This even works for finding the CEO’s e-mail. We sent an e-mail to ken.lewis @ bankofamerica.com and received a response soon thereafter.
No, I don’t think that e-mail ever reached Ken Lewis. But, someone is checking it and they responded.
I think the closest we have ever gotten to talking to a CEO is when we found the direct line to Sterling Edmunds, the CEO of Suntrust.
Reaching a CEO is exciting, but it isn’t the goal. Our goal is to get a competent person to review the short sale. They will approve it when we show how it makes financial sense to do so. 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
. 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 (831) 636-8858
Thinking about a loan modification? Our Hollister loan modification kit has the instructions you will need to get a loan modification approved with your bank. www.ighomes.com
Thanks for reading this, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties.
Phone: (831) 636-8858.
.
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Hollister Short Sales: How To Find The Short Sale Negotiators E-mail Address is provided as a courtesy to our viewers to help them make informed decisions.
Hollister CA – The Stop Foreclosure Institute recently received a question from Dan. Here was Dan’s Question.
"I recently purchased another home and tried to sell my former home. It isn’t selling and I can’t afford to make both payments. The home won’t rent for even 1/2 of the mortgage payment.
An agent told me the house is worth about $50K under the mortgage amount. Is it realistic for me to try the short sale? The only hardship created was when I decided to move to a larger home for family. Dan."
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here was our answer to Dan’s Question. Dan, I think you can short sale your house.
Do you have a legitimate hardship?
I know you said you needed a larger house. However, if you also moved for a job transfer, then most lenders would consider that a legitimate hardship.
A hardship is not black and white. Some lenders would consider your situation a hardship. More often than not they will approve the short sale.
Others would not and won’t work with you on a short sale. In addition, the lender may not work with you until you have missed a payment or two.
Whether or not you miss a payment is your decision. You should weigh your options and decide whether or not you can live with the resulting credit damage.
Many lenders will work with you on a short sale even before you have missed a payment. If you were working with us, then we would help you.
But, we would have the expectation that it would be a 6-12 month process. Make sure that you work with a competent short sale agent.
Look for someone that is a short sale expert. Ask them how many short sales they have sold.
Ask them if they have worked with your lender in the past. Then you will be able to judge whether they are qualified to help you. Thinking about a short sale?
I can help you short sale your property and never pay the bank another penny. Send me an e-mail at
israel@ighomes.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 (831) 636-8858
Discover how other sellers successfully completed a short sale and request a free consultation by
clicking here.
Thinking about a loan modification? Our Hollister 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, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties. Hollister Short Sales Realtor:
Phone: (831) 636-8858.
israel@ighomes.com.
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Is My Hardship Legitimate For A Hollister Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.
Hollister CA –
The next step in the process of getting a cleaned up credit report, is the one that takes the least effort, but the most patience: WAITING.
You’ve done your part to get the ball rolling, and now the credit reporting companies have to do their part.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
What happens during this phase is that the credit reporting agencies have 30 days to investigate.
I use the term loosely here because the methodology that they use is not very investigatory. They take the claims and whittle the dispute down to a 2 digit code that gets checked against a reporting database called eOscar for verification.
They are afforded 30 days to do this step, unless the person disputing has gotten their credit report from annualcreditreport.com which allows them to take 45 days to check out your dispute (remember back in an earlier step where this was discussed – this isn’t the site to get your credit from!.)
While you wait, remember that whatever your credit score was before you began this process, you should be doing things now to improve it.
What I mean by this is that while waiting for the history part of your credit report to be cleaned up, you work on the future of the credit report. Take action now to build a better situation.
First, keep your report clean from this moment forward. Don’t tarnish it beginning now. Do not have a single late payment – pay your bills on time.
I know, it’s easier said than done, but it will be important in your future that you did this today. Don’t have any new collection accounts or charge offs.
Don’t, REALLY don’t, get new inquiries on your credit report – this means don’t open any new credit cards, store charge cards. No applying for everything that sounds like a good idea.
Don’t close any open credit cards. Pay off the credit card - yes, but close out the account – no. Keep this length of history long on your report.
And, just wait. The 30 days for the credit bureau investigation will fly by. Once their 30 days is up, they have 5 additional days to provide you with their findings.
If anything in their investigation was not verifiable, that item is required to be removed from your credit report. They will also send you an updated credit report.
So, watch for their letter to you in your mailbox after you complete the WAITING step. Thinking about a short sale?
I can help you short sale your property and never pay the bank another penny. Send me an e-mail at
israel@ighomes.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 (831) 636-8858
Discover how other sellers successfully completed a short sale and request a free consultation by
clicking here.
Thinking about a loan modification? Our Hollister 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, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties. Hollister Short Sales Realtor:
Phone: (831) 636-8858.
israel@ighomes.com.
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Step 7 To Fix Your Credit After A Hollister Short Sale: The Waiting Period is provided as a courtesy to our viewers to help them make informed decisions.
Hollister CA – Are you looking to buy a short sale? Before you make an offer, you need to check and see how many mortgages are on the home.
A short sale with only one mortgage is not that difficult. Even an inexperienced agent can often get these approved and sold.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
A short sale with 2 loans becomes much more difficult. You now have to lenders that have to agree with each other. However, an experienced short sale agent can get the two lenders to agree with each other on the short sale.
However, when you have 3 or more loans and/or liens, everything just becomes way more complicated. Most first mortgages will only give $2,500 to $3,000 a second mortgage on a short sale.
They don’t have any policies in place on what to give a third position mortgage or lien. And that third position lien holder isn’t going to go away for free. Someone is going to have to give them something in return for them releasing their lien.
That third position lender basically has the right to throw a wrench in the works unless they get paid. They can veto the short sale for any reason. They will only go away when they are either paid in full or accept a lower amount.
This is what makes short sales with 3 or more loans so difficult. The first mortgage, second mortgage, and third position lien fight over the available money.
At the end, the first mortgage usually forecloses on the property and the second and third position people get nothing. But, a foreclosure takes a long time and costs money.
At the end of the day, everyone ends up losing more than they would have made if they had simply worked together.
This is why we usually avoid short sales with 3 or more mortgages/liens in place. Thinking about a short sale?
I can help you short sale your property and never pay the bank another penny. Send me an e-mail at
israel@ighomes.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 (831) 636-8858
Discover how other sellers successfully completed a short sale and request a free consultation by
clicking here.
Thinking about a loan modification? Our Hollister 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, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties. Hollister Short Sales Realtor:
Phone: (831) 636-8858.
israel@ighomes.com.
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Why I Recommend That Home Buyers Avoid Buying A Hollister Short Sale With Three Mortgages is provided as a courtesy to our viewers to help them make informed decisions.
Hollister CA – The Stop Foreclosure Institute recently received a question about renting a home in foreclosure.
Short Sale Question: "I am own two homes that are in foreclosure. I would like to rent the homes during the foreclosure process. I will continue to pay the homeowner's association fees. I will not be paying the mortgage.
Is it legal to do this? Is there any liability that comes with it?"
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here was our answer to them. The Stop Foreclosure Institute is not a law firm. Therefore, we can’t answer as to whether or not it is legal.
We recommend that you check with a lawyer before making a decision. We do know that there are laws forbidding that practice in many states.
For example, Florida recently passed a law that stated that you had to notify any potential renter whether or not the home was in foreclosure before renting.
From what we have heard about the law, if you lease a property in foreclosure and don't tell the tenants, then it is a criminal offense.
If it was a problem in Florida, then it was a problem in other states and they probably passed similar laws.
We have seen cases in the past where a homeowner sold their home as “Owner Financing.
The home was in foreclosure and buyers filed a police report. The sheriff’s office investigated the homeowner for fraud. The people who thought they were buying the home paid the owner a large down payment.
They didn’t know the home was in foreclosure. He disappeared with their money and they were kicked out by the bank.
The bottom line is that anything fishy can have future repercussions. That is why I think it is better to disclose it first. Thinking about a short sale?
I can help you short sale your property and never pay the bank another penny. Send me an e-mail at
israel@ighomes.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 (831) 636-8858
Discover how other sellers successfully completed a short sale and request a free consultation by
clicking here.
Thinking about a loan modification? Our Hollister 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, Israel Gonzalez.
Israel is a Real Estate Agent at Beale Properties. Hollister Short Sales Realtor:
Phone: (831) 636-8858.
israel@ighomes.com.
View My homes for sale at
www.bestREOhomes.com.
Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.
Important Notice
Israel Gonzalez, Beale Properties, 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 Israel's personal views and do not reflect the views of Beale Properties.
This information on Hollister Short Sale Question: Can I Rent My Home If It Is In Foreclosure? is provided as a courtesy to our viewers to help them make informed decisions.