Short Sale vs. Foreclosure: The Notice of Default In California, a Notice of Default will typically be filed by the lender after the third missed payment. Once a Notice of Default is filed, the lender has begun the formal process…
5 Fun Facts About Fannie Mae Short Sales Is there anything fun about short sales? Well probably not a lot. But certainly, they are more fun when they are approved quickly. Some of my favorite short sales have been on…
Two Lenders - Bank of America and GMAC - Another Successfully Closed Short Sale! This BofA and GMAC short sale took about 67 days for short sale approval. It could have been a lot quicker but there were a few…
How to Write A Short Sale Offer In A Competitive Market The local real estate market in Santa Maria and Orcutt California is currently dominated by bidding wars and multiple offer situations. So, no matter what type of listing it…
5 Reasons Why 2012 Is the Time For A Short Sale of Your Santa Maria, CA Home California Senate Bill 931 (SB 931) – This important new law went into effect on January 1st. It requires that first mortgage lenders forgive the deficiency when…
Is Bank of America Still Terrible at Short Sales?I would have to reluctantly say no. Bank of America is no longer terrible at short sales. This coming year will mark four years since my first Bank of America short sale,…
5 Reasons Why the Short Sale Seller Still Cares About the Price There is something about a short sale that makes buyers think that the short sale seller is somewhat of a non-entity, a mere speed bump in front of…
Who Put the Shame in Short Sale? Even though the “Lesser Depression” is in full swing and the Housing Bust is old news, I still occasionally run into the sentiment that short sales are shameful. Why? Is this a…
What Are the Benefits of a HAFA Short Sale in California? The Home Affordable Foreclosure Alternatives (HAFA) program is a subset of the federal Home Affordable Modification Program (HAMP). HAMP was designed to help homeowners restructure their loans with their…
Lately, my phone has been ringing off the hook. As a Santa Maria short sale agent, I am used to receiving urgent calls from homeowners in distress. Some are weeks away from foreclosure auction, others are at the precipice of…
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