Short Sale With Two Lenders — US Bank & PHH Mortgage Short Sale Successfully Closed

On December 30, 2012, in Short Sale Process, by Santa Maria Short Sale Agent

Short Sale With Two Lenders — US Bank & PHH Mortgage Short Sale Successfully Closed Short sales with more than one lender are more complex.  These two lender plus short sales tend to take longer for approval because you must meet each lenders unique short sale requirements, coordinate approval timelines and keep your buyer engaged […]

Will Short Sales Be Pushed Off the Fiscal Cliff?

On December 26, 2012, in Qualifying for a Short Sale, Santa Maria Short Sale Agents, by Santa Maria Short Sale Agent

Will Short Sales Be Pushed Off the Fiscal Cliff? We can’t seem to hear enough about the fiscal cliff these days.  Undoubtedly, the decision to extend the Mortgage Forgiveness Debt Relief Act is bound up in the logjam of the fiscal cliff.  Indeed, given the current financial crisis, even the mortgage interest deduction seems up […]

Is 6 Months Too Long For Short Sale Approval?

On December 22, 2012, in Qualifying for a Short Sale, by Santa Maria Short Sale Agent

Is 6 Months Too Long For Short Sale Approval? I think 6 months is way too long for short sale approval.  Short sale approval doesn’t happen in one day and buyers need to understand that — I get it.  Lately, I’ve come across several short sale listings where the listing agent asks the buyer to […]

CHASE Home Loans & CHASE Home Equity Short Sale Approved in 37 Days!

On December 20, 2012, in Short Sale Approval, Short Sale Process, by Santa Maria Short Sale Agent

CHASE Home Loans & CHASE Home Equity Short Sale Approved in 37 Days! We closed this CHASE short sale in record time – 37 days total for approval.  This short sale was handled well by CHASE – it seems they have made some improvements in their processing, or at least it let’s you know when […]

BofA Introduces “Negotiation Agreement” for Loan Modifications

On December 16, 2012, in Loan Modification, by Santa Maria Short Sale Agent

BofA Introduces “Negotiation Agreement” for Loan Modifications Recently, I was forwarded a recent loan modification agreement packet sent to a Bank of America borrower.  It included a document I hadn’t seen before.  It is entitled a “negotiation agreement.”  I’m not sure if they are using this agreement throughout the country or just California.  Definitely this […]

Is the Heyday of the Santa Maria Short Sale Over?

On December 12, 2012, in Short Sale Process, Short Sales vs. Foreclosure, by Santa Maria Short Sale Agent

Is the Heyday of the Santa Maria Short Sale Over? Probably not. I think the hey day of the “strategic short sale” is at least taking a breather while the future of the Mortgage Forgiveness Debt Relief Act is still being debated. However, there is still a ton of negative equity out there. And even […]

Significant Freddie Mac Short Sale Changes (Part One)

On December 8, 2012, in Qualifying for a Short Sale, by Santa Maria Short Sale Agent

Significant Freddie Mac Short Sale Changes This week I sat in on a webinar offered by Freddie Mac.  The purpose was to educate short sale agents and would be short sale agents on recent changes Freddie Mac made to the way they handle short sales.  It was overall a useful webinar full of lots of […]

My Bank Sold My Loan – Can I Still Do A Short Sale?

On December 4, 2012, in Short Sale Process, by Santa Maria Short Sale Agent

My Bank Sold My Loan – Can I Still Do A Short Sale? Has your mortgage loan been sold or “service released?”  This should not affect your ability to apply for a short sale on your property.  As a practical matter, it may cause a delay in processing.  It may also affect your ability to […]

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