San Diego Short Sale: Are The Banks Lying To Uncle Sam


Eastlake CA – The Stop Foreclosure Institute recently received an e-mail from another real estate agent. They were asking for our advice on a short sale.

They accused a large, national lender (one of the 4 largest in America) of lying to Fannie Mae. Fannie Mae is almost a subsidiary of the Federal Government.

Here was the e-mail they sent us. " The lender told the seller that they had to agree to a deficiency or the short sale would not be approved.

The seller said that was unacceptable. They told us they wouldn't go thru with the short sale unless the deficiency was waived. We notified the short sale negotiator and he sent us a short sale decline letter.

The decline letter says buyer walked. That was a total lie! It appears that this lender told the owner of the loan, Fannie Mae, that the buyer walked when that was not the case.

But, he told us that Fannie Mae was making them do it. I think they are showing this to Fannie Mae to cover their butts! Steve."

Get my Free, Step By Step Loan Modification Guide by clicking here.

Our comments on this. This is a big deal. That lender's legal obligation is to do what is best for Fannie Mae. Short sales usually reduce a lender's losses by 20%, thereby netting Fannie Mae more money.

For this lender to do this is a blatant violation of their legal obligation. Fannie Mae's policy is to not pursue short sale deficiencies. They just write off the loss and move on. We have sold many short sales where Fannie Mae waived their deficiency rights.

I think the short sale negotiator's ego is getting in the way of a deal. They are probably delegated for Fannie. This means Fannie tells them to do whatever they want on behalf of Fannie.

The person not willing to waive the deficiency is this short sale negotiator. This is pathetic and should be investigated.

There is a solution to the problem. I would recommend calling Fannie Mae directly and let them know what is going on.

Thinking about a loan modification?Our Eastlake loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at henry@houseinsandiego.com to request a Free Copy. Or, click here to request a copy.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thanks for reading this, Henry Pailles.

Henry is a Real Estate Broker at houseinsandiego Realty. Eastlake Short Sales Realtor:

Phone: 619-517-6791. henry@houseinsandiego.com.

Are you at risk of losing your home? ...We can help!

View My homes for sale at http://www.houseinsandiego.com/.

Henry Pailles specializes in loan modification assistance and short sales in Eastlake California. Eastlake Loan Modification Help, Eastlake Short Sales. Eastlake Short Sale Realtor. Chula Vista CA Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.



Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Henry Pailles, houseinsandiego Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.

If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on Eastlake Short Sale: Are The Banks Lying To Uncle Sam is provided as a courtesy to our viewers to help them make informed decisions.

Eastlake Short Sale: Why Does A HELOC Get Zero From Foreclosure



Eastlake CA – After yesterday’s blog post, I am sure that some people were wondering why a HELOC gets zero from a foreclosure. Let me explain why.

Get my Free, Step By Step Loan Modification Guide by clicking here.

When a property is foreclosed upon, it is auctioned on the courthouse steps. Let me give you a scenario where a homeowner owes the following on the property.

First Mortgage is owed $200,000.

Second Mortgage is owed $40,000.

There is a HELOC (Home Equity Line of Credit) that is owed $100,000. (The home increased in value to $400,000 and a lender agreed to grant the loan.)

So a total of $340,000 is owed on the property. Now, what if it only sells for $150,000 on the courthouse steps. Who gets that $150,000?

The first mortgage does. The second mortgage wouldn’t get a dime unless the property sold on the courthouse steps for more than $200,000. The HELOC wouldn’t get any money unless it sold for more than $240,000.

This is why a second mortgage gets so little money from a foreclosure. Historically, second mortgages were loaned for the top 20% of the property value. The lower 80% was the first mortgage.

In most cases, the attorney fees, foreclosure costs, delinquent property taxes, and other fees would bring the first mortgage’s total up to around 100% of the property value.

This is why in most cases a second mortgage rarely gets any money from a foreclosure. Of course there are other variables that can change things, but this is how it usually works.

Thinking about a loan modification?Our Eastlake loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at henry@houseinsandiego.com to request a Free Copy. Or, click here to request a copy.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thanks for reading this, Henry Pailles.

Henry is a Real Estate Broker at houseinsandiego Realty. Eastlake Short Sales Realtor:

Phone: 619-517-6791. henry@houseinsandiego.com.

Are you at risk of losing your home? ...We can help!

View My homes for sale at http://www.houseinsandiego.com/.

Henry Pailles specializes in loan modification assistance and short sales in Eastlake California. Eastlake Loan Modification Help, Eastlake Short Sales. Eastlake Short Sale Realtor. Chula Vista CA Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.



Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Henry Pailles, houseinsandiego Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.

If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on Eastlake Short Sale: Why Does A HELOC Get Zero From Foreclosure is provided as a courtesy to our viewers to help them make informed decisions.

Thinking About A Strategic Default in Eastlake? FICO May Be Tracking You!



Eastlake CA – Banks must hate Strategic Defaults. A person who walks away from hundreds of thousands of dollars in debt gets on their nerves.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

It must bug them so bad that Fair Isaac, the founder of the FICO score, came out with a program that tracks strategic defaults. Here is the story according to Inman News:

"Article Title: FICO to walkaways: You're on our screen

Fair Isaac, developer of the ubiquitous FICO score, has a new warning for homeowners plotting a strategic default or walkaway: We can now spot you in advance. We've developed a black-box risk-identification tool that enables lenders and mortgage servicers to tag you months in advance -- and then pursue their own strategic measures to intervene.

The tool is so effective, according to FICO, that it can "capture nearly 67 percent of strategic defaulters" who are otherwise unremarkable and undetectable, paying their mortgages on time.

Sound a little spooky? Not for the major lenders who are working with FICO to install the new statistical risk-scoring model, aimed at some of the costliest and most perplexing defaulters in the marketplace: people who just stop paying on their loan abruptly, without ever previously being late, even though they have the income to pay.

Strategic walkaways are a multibillion-dollar headache to banks and investors. A study by researchers at the University of Chicago's Booth School of Business found that during last September alone, 35 percent of mortgage defaults in the U.S. were strategic -- up sharply from 26 percent in March 2009.

With an estimated 23 percent of all residential mortgages underwater as of March of this year, according to data from consulting firm CoreLogic, spotting -- and dealing with -- walkaways has become a high priority for the biggest banks.

Walkaways are also more than a slight concern to default risk-scoring giants like Fair Isaac and Vantage Score LLC, the joint venture created by the three national credit bureaus: Equifax, Experian and Trans Union.

Both companies have been stunned to find that the very consumers they deemed the least likely to go into default -- people with 800-plus FICOs and 900-plus Vantage scores -- are statistically more likely to default strategically, with no outward signs of impending payment stoppages, than the lower-scoring masses.

People with low FICO scores still default more often than high scorers, but when high scorers do default, they are far more likely to do so out of the blue. In the lowest score category (300 to 499) more than twice as many people default nonstrategically -- they begin missing payments over time, typically because of income declines -- than strategically.

These walkaways are especially vexing to score-modeling experts like Andrew Jennings, Fair Isaac's chief analytic officer and head of FICO Labs. "They open up new credit accounts" before stopping their mortgage payments, he told me in an interview last week. "They prepare."

They intentionally default on their mortgages in part "because they believe it is in their best financial interest, and because they believe the consequences will be minimal," Jennings said.

Jennings supervised Fair Isaac's work in developing a special tool that pinpoints likely strategic defaulters while they're still cocooning and haven't yet revealed their intentions to lenders.

Some of the research involved examining massive samples of credit bureau data -- 5 percent of all U.S. mortgage accounts -- during a recent one-year period, looking for telltale clues, month by month, that would separate out strategic defaulters from ordinary defaulters.

What the project turned up, said Jennings, helped formulate the model that FICO has now created for lenders and servicers.

So what's in the black box? Obviously the complex statistical model and exactly how it works is proprietary. But Jennings said it looks at a composite of separate risk factors from credit and real estate databases, and enables servicers to identify borrowers whose profiles match those of strategic defaulters most closely.

Some of the key characteristics include:

--How long have the borrowers owned the house? The shorter the time span, the higher the risk.

--Are they good to excellent managers of their household finances and credit relationships? Do they make modest and responsible use of credit cards and other revolving debt? Do they pay their accounts on time as a rule? Do they rarely, if ever, go over the limits on their cards -- or even come close?

--Have they departed from their past credit usage patterns in recent months by opening up multiple new accounts?

--Based on local property-value indexes, is it likely that they have slipped into negative equity territory? Remember: How deeply underwater is only a moderately predictive factor. Lots of owners whose properties are worth far less than their mortgage balances do not strategically default, but keep plugging away paying every month, while borrowers who fit the FICO strategic defaulter profile may be only slightly underwater but still walk away abruptly.

By the way, location is not a key factor in the equation. FICO found that 40 percent of all strategic defaulters live in "recourse" states where lenders can -- and do -- pursue defaulters for any un-recovered debts following a foreclosure.

Of course, the model cannot peer into would-be walkaways' minds and motivations. "We're not trying to explain their psyches," Jennings said, "but you see the patterns" and certain borrowers' profiles light up like flashing neon signs.

The top bracket of high-risk homeowners identified by FICO's new model are 110 times more likely to strategically default than other borrowers -- even though they otherwise appear to be solid customers, according to Fair Isaac.

Armed with these risk profiles, what are banks and servicers likely to do as they scan their portfolios? Fair Isaac recommends that they intervene early with what it calls "pre-delinquent treatments."

These include contacting high-risk borrowers to warn them about the consequences of strategic defaults: Their credit scores will tank by 150 points or more, they'll be hampered or penalized in applications for rentals, employment, car loans or leases, and they can forget about buying another home for at least several years, possibly as long as seven.

If they live in a state that allows deficiency recoveries, servicers will probably emphasize their determination to do so in the event of any default.

Will all this work? Major banks and FICO think it should help. The jury is out at the moment, but if the early detection concept is valid, who knows?

Maybe it will cause some homeowners to think twice and discourage them from taking that first, crucial step: Secretly plotting their walkaway, months in advance.” End of Article.

This has big repercussions for anyone thinking about a strategic default. Tomorrow we’ll talk about how this affects you if you and what to do to avoid problems on a strategic default.

Thinking about a short sale?

I can help you short sale your property so you can move on with your life. Send me an e-mail at henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Eastlake 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, Henry Pailles.

Henry is a Real Estate Broker at houseinsandiego Realty. Eastlake Short Sales Realtor:

Phone: 619-517-6791. henry@houseinsandiego.com.

Are you at risk of losing your home? ...We can help!

View My homes for sale at http://www.houseinsandiego.com/.

Henry Pailles specializes in loan modification assistance and short sales in Eastlake California. Eastlake Loan Modification Help, Eastlake Short Sales. Eastlake Short Sale Realtor. Chula Vista CA Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.



Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Henry Pailles, houseinsandiego Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.

If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on Thinking About A Strategic Default in Eastlake? FICO May Be Tracking You! is provided as a courtesy to our viewers to help them make informed decisions.

San Diego Short Sales: My home is in foreclosure. How soon will the bank kick me out?



Eastlake CA – The Stop Foreclosure Institute recently received a question from another realtor named Sandy. Here is her question.

“An agent in my office currently has a listing under contract. It is a short sale, the sad thing is that Large National Bank (to remain unnamed) notified the sellers that they had foreclosed a month ago.

Fact is, they had not foreclosed. The employee didn’t know what they were talking about. Valuable time and a buyer were lost during this fiasco. This deal is currently awaiting approval. There is no telling what will happen in the end.

My question is this. What can we do to track the foreclosures and see when the bank is foreclosing. Sandy."

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here is the answer to Sandy’s Question. The best way that I have seen to track this is by checking the docket.

The docket is the record at the courthouse of everything that is happening on a foreclosure. In some states the foreclosure is a court case and you can track the case.

The bottom line is that your local courthouse will have the best information. Call them and ask for them to explain it to you.

You will need the homeowner’s name and sometimes the court case number. They will explain where the foreclosure is at and how much longer it will be before it is completed. 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 henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Eastlake 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, Henry Pailles.

Henry is a Real Estate Broker at houseinsandiego Realty. Eastlake Short Sales Realtor:

Phone: 619-517-6791. henry@houseinsandiego.com.

Are you at risk of losing your home? ...We can help!

View My homes for sale at http://www.houseinsandiego.com/.

Henry Pailles specializes in loan modification assistance and short sales in Eastlake California. Eastlake Loan Modification Help, Eastlake Short Sales. Eastlake Short Sale Realtor. Chula Vista CA Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.



Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Henry Pailles, houseinsandiego Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.

If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on Eastlake Short Sales: My home is in foreclosure. How soon will the bank kick me out? is provided as a courtesy to our viewers to help them make informed decisions.

San Diego Short Sales: There Is A Surprise Lien On The Short Sale

Eastlake CA – The Stop Foreclosure Institute recently received a question from James. Here is his question.

“Do you have any suggestions on a surprise lien from a Water Softener company? We were able to get Bank of America to approve the short sale without paying the lien. It could take another 60 days for Bank of America to agree to pay the lien.

The buyers don’t want to wait that long. Is there anything we can do? James.”

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here is the answer to James’s Question.

Yes, you can get rid of it. But, it will take time.

Option #1: Many states have laws that allow a homeowner to remove liens if the property is their homestead.

For example, Florida has a law that enables the seller to file to release the lien thru homestead. I don't remember the exact legal name.

The seller files something and the lien automatically goes away in 45 days. The only reason it wouldn't go away is if the lien holder contests it.

An agent I know in Florida has used it against one of the best debt collection lawyers in the state. Ask your title company for help.

Option #2: Get BOA to agree to give them some money for it. Or, find a way to get it paid on the HUD. As you can see, both of these take time.

Option #3: Pay it out of pocket.

Option #4: You luck out and the lien doesn't attach. Check with your title company to see if this is the case. Oftentimes, they don't even legally attach. 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 henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Eastlake 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, Henry Pailles.

Henry is a Real Estate Broker at houseinsandiego Realty. Eastlake Short Sales Realtor:

Phone: 619-517-6791. henry@houseinsandiego.com.

Are you at risk of losing your home? ...We can help!

View My homes for sale at http://www.houseinsandiego.com/.

Henry Pailles specializes in loan modification assistance and short sales in Eastlake California. Eastlake Loan Modification Help, Eastlake Short Sales. Eastlake Short Sale Realtor. Chula Vista CA Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.



Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Henry Pailles, houseinsandiego Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.

If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on Eastlake Short Sales: There Is A Surprise Lien On The Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

How Does the Realtor Get Paid On A San Diego Short Sale



San Diego CA – A potential home seller asked The Stop Foreclosure Institute how we get paid on a short sale transaction. So I decided to answer that question in today’s blog post.

Here is how most Realtors get paid on a short sale. They make a real estate commission from the sale of the property. When the property sells a percentage of the sales price is paid as a commission.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Man sellers mistakenly think that since there is no equity in the property, then there is no way for the agent to be paid. In this situation the seller’s lender pays the commission.

They are willing to pay a commission on a short sale because if the property is foreclosed upon, not only will the property sell for less money, but they will also have to pay a commission on the sale of the foreclosed property.

Here is an example. You owed $500,000 on your home. The home is now worth $400,000. After real estate commissions, attorney fees, property taxes, sales taxes, and other miscellaneous fees, your lender will net $370,000.

Most people would be horrified at losing $130,000. However, lenders know there is risk in their business. They grant loans knowing that a certain percentage of them go bad.

After they have realized that a loan has gone bad, all they want to do is reduce their losses as much as possible. So they will sit down and calculate the losses on their different options.

We all know the short sale will net them $370,000.

How much will a foreclosure net them? Let’s run the numbers. If the house is worth $400,000, then it will probably sell for 10% less after a 12 month foreclosure process.

So they have a sales price of $360,000. Now, they have to add in real estate commissions, attorney fees, sales taxes, and all the other costs. They could end up netting around $310,000 after the foreclosure.

Accepting the $370,000 on the short sale and paying the realtor is a good alternative. Therefore they are glad to accept it and pay us to sell the property.

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 henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Eastlake 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, Henry Pailles.

Henry is a Real Estate Broker at houseinsandiego Realty. Eastlake Short Sales Realtor:

Phone: 619-517-6791. henry@houseinsandiego.com.

Are you at risk of losing your home? ...We can help!

View My homes for sale at http://www.houseinsandiego.com/.

Henry Pailles specializes in loan modification assistance and short sales in Eastlake California. Eastlake Loan Modification Help, Eastlake Short Sales. Eastlake Short Sale Realtor. Chula Vista CA Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.



Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Henry Pailles, houseinsandiego Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.

If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on How Does the Realtor Get Paid On A Eastlake Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

San Diego Real Estate


The Very Wise Words of Ludwig von Mises

Who in the world is Ludwig von Mises? He was an Austrian economist who was known for his contrarian views on how markets and people work. Mises had many insightful views on business. Here's one: “ It is not correct foresight as such that yields profits, but foresight better than that of the rest. The prize goes only to the dissenters, who do not let themselves be misled by the errors accepted by the multitude.”

Long-time readers will recognize a Misesian theme in some of our writings. For the past year, we've been counseling people to act, and not to wait until all signs point up, because when everything looks positive (or when everything looks negative), the multitude is in control.

We argue that today a “multitude” of negativity still pervades the market, making it a buyer's market. (We could have said there was a “multitude” of positivity in 2006, which made it a seller's market.) The problem is, it's difficult to stand against the multitude, even though it's often in our best interest to do so. Most people simply find it too uncomfortable to separate themselves from the crowd and look past today's problems to today's opportunities.

Fortunately, to be a successful dissenter, we only have to be mostly correct, not completely. We feel mostly correct in saying that buying real estate at today's prices and at today's rates will prove very profitable a few years from now.

Following these tips can mean the difference between failure and success on the sale or purchase of your home. Thinking about buying or selling a home?
If you think your house is worth less than what you owe on it, no problem… I can help you short sale your property and never pay the bank another penny. Send me an e-mail at http://www.henry@houseinsandiego.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 619-517-6791
Discover how other sellers successfully completed a short sale and request a free consultation by http://houseinsandiego.com/MarketAnalysis"> clicking here.
Thinking about a loan modification? Our Eastlake loan modification kit has the instructions you will need to get a loan modification approved with your bank

Thinking about Selling your home?

I will deliver the highest end result benefits to you, in the time you want. I have the skills, I am ethical, trustworthy and most of all….I care about my customers. http://www.houseinsandiego.com

For anything related to Real Estate in San Diego, or Real Estate in Chula Vista.

Call me, I am your local Real Estate Expert, I will make sure I provide answer to any question or concern you might have in regards to Real Estate, the market, selling your home, buying an investment home, buying your first home, upgrading to a bigger home, etc… I am sure I can help you, and will do it with passion; I have been in Real Estate for many years and truly enjoy working with people like you, and helping turn their dreams into.

Start by visiting my website at: http://www.houseinsandiego.com

Thanks for reading this, Henry Pailles.
Henry is a Real Estate Broker at houseinsandiego Realty.

San Diego Real Estate, with great experience in San Diego homes, Investors, Foreclosures, Short sales, Creative financing.
Phone: 619-517-6791. henry@houseinsandiego.com
Are you at risk of losing your home? ...We can help!
View My San Diego homes for sale at www.houseinsandiego.com
Henry Pailles specializes in loan modification assistance and short sales in San Diego California. San Diego and Eastlake Loan Modification Help, Chula Vista Short Sales. Eastlake Short Sale Realtor. Chula Vista CA.

San Diego home, Chula Vista home, San Diego Real Estate, Chula Vista Real Estate, Chula Vista Short sales, San Diego Realtor, Chula Vista Realtor, Eastlake Realtor Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.
Copyright 2011 houseINsandiego Realty. All Rights Reserved.

Henry Pailles is the Broker of houseinsandiego Realty. Our services have not been reviewed, endorsed, or approved 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.
If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.
This information on this blog is provided as a courtesy to our viewers to help them make informed decisions.

This Blog is intended to help anybody dealing with Real Estate in San Diego, looking to buy or sell a San Diego home, a Chula Vista home, do a San Diego Short sale, buy Foreclosure or REO property, Save a home from foreclosure, Short sale in San Diego to avoid foreclosure. People that are looking for a San Diego Realtor or Chula Vista Realtor

San Diego Real Estate


MARKET RECAP

Are delinquency and foreclosure rates really falling? Based on this past week's data releases, it appears they are.

Hope Now, an alliance of mortgage servicers and home-retention counselors, reports that the number of loans classified 60 or more days delinquent fell to 2.78 million mortgages in February from 2.95 million in January. Freddie Mac reports that less than 4 percent of its single-family home loans are at least three payments behind or heading into foreclosure, which is less than half the year-ago rate.

Two more government agencies – the Office of the Comptroller of Currency and the Office of Thrift Supervision – offer more proof that delinquencies and foreclosures are on the mend. They report that the percentage of mortgages classified as seriously delinquent fell in all four quarters of 2010, while seriously delinquent mortgages at the end of the year dropped to a level unseen since the second quarter of 2009.

The detractors remain unconvinced: they counter that last year's moratorium on foreclosures has skewed the numbers, and that delinquencies and foreclosures are set to rise. Even the OCC and OTS say that they expect foreclosure activity to increase in 2011 as moratoriums thaw.

That could very well be the case, but we think there is more at work here than just a thawing of moratoriums. Payroll employment and economic growth have posted strong gains over the past few months. That means more people are able and willing to service their obligations, including mortgage obligations.

Pricing could be the wild card in the delinquency-foreclosure trend. Admittedly, the news on national home prices has been weak over the past couple months. However, real estate is local. Home prices in West Virginia are up over 5 percent year-over-year, and they're up over 4 percent in New York and North Dakota . The usual suspects – Arizona , Florida , Michigan – have posted double-digit declines. That said, Arizona and Florida were two of the most overbuilt states; Michigan is one of the most economically depressed. They're not representative of most real estate markets.

Therefore, we will stick by our guns: stable and improving prices will prevail. We are encouraged by the sharp decline in the rental vacancy rate, to 6.2 percent in the first quarter of 2011, which suggests to us that excess supply is being absorbed. In fact, the vacancy rate is back to early 2008 levels, and is not far above the rate in 2006 (around 5.7 percent). As the vacancy rate falls, rents will rise and this will help support home prices.


Following these tips can mean the difference between failure and success on the sale or purchase of your home. Thinking about buying or selling a home?
If you think your house is worth less than what you owe on it, no problem… I can help you short sale your property and never pay the bank another penny. Send me an e-mail at http://www.henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by http://houseinsandiego.com/MarketAnalysis"> clicking here.

Thinking about a loan modification? Our Eastlake loan modification kit has the instructions you will need to get a loan modification approved with your bank

Thinking about Selling your home?

I will deliver the highest end result benefits to you, in the time you want. I have the skills, I am ethical, trustworthy and most of all….I care about my customers. http://www.houseinsandiego.com

For anything related to Real Estate in San Diego, or Real Estate in Chula Vista.

Call me, I am your local Real Estate Expert, I will make sure I provide answer to any question or concern you might have in regards to Real Estate, the market, selling your home, buying an investment home, buying your first home, upgrading to a bigger home, etc… I am sure I can help you, and will do it with passion; I have been in Real Estate for many years and truly enjoy working with people like you, and helping turn their dreams into.

Start by visiting my website at: http://www.houseinsandiego.com



Thanks for reading this, Henry Pailles.



Henry is a Real Estate Broker at houseinsandiego Realty.

San Diego Real Estate, with great experience in San Diego homes, Investors, Foreclosures, Short sales, Creative financing.



Phone: 619-517-6791. henry@houseinsandiego.com



Are you at risk of losing your home? ...We can help!



View My San Diego homes for sale at www.houseinsandiego.com



Henry Pailles specializes in loan modification assistance and short sales in San Diego California. San Diego and Eastlake Loan Modification Help, Chula Vista Short Sales. Eastlake Short Sale Realtor. Chula Vista CA.

San Diego home, Chula Vista home, San Diego Real Estate, Chula Vista Real Estate, Chula Vista Short sales, San Diego Realtor, Chula Vista Realtor, Eastlake Realtor Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.







Copyright 2011 houseINsandiego Realty. All Rights Reserved.



Henry Pailles is the Broker of houseinsandiego Realty. Our services have not been reviewed, endorsed, or approved 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.



If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.



This information on this blog is provided as a courtesy to our viewers to help them make informed decisions.

This Blog is intended to help anybody dealing with Real Estate in San Diego, looking to buy or sell a San Diego home, a Chula Vista home, do a San Diego Short sale, buy Foreclosure or REO property, Save a home from foreclosure, Short sale in San Diego to avoid foreclosure. People that are looking for a San Diego Realtor or Chula Vista Realtor

San Diego Short Sales: The Lender Won't Approve The Short Sale. Now What?


Eastlake CA – If you are doing short sales, then you must learn how to escalate a file. Here's why.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

What do you do when the house isn't selling for any more money, but the bank keeps on rejecting the offers? You can give up, but then the seller loses the house to foreclosure.

Ouch! Why not escalate the file and get it approved? Here's an example of how it worked for the Stop Foreclosure Institute.

We had a house on the market for 4 months. We started the price at 200k and slowly brought it down to $169,900. We finally got an offer for $159,000.

The lender thought the house was worth $195,000. We knew that they wouldn't accept the offer because it was less than their value.

We knew this investor's guidelines and that the current offer at $159,000 didn't have a shot at getting accepted.

In order to get this file approved, we had two things to do.

1. Convince the lender to get a new, more accurate valuation.

2. Escalate the file.

To handle Part 1, we sent the short sale negotiator our own Comparable Market Analysis. We included the Pending homes for sale and the Competing homes for sale.

We explained that their valuation was inaccurate and that they need to order another one. (If your data is good, then most of the time they will order a new valuation.)

Then, we asked for their supervisor's contact info. (Remember, most short sale communications are thru e-mail.)

Two-thirds of the time they will e-mail back the supervisor's info. The other one-third of the time they will just start doing a better job on the file. Either way we have accomplished our goal.

In this case they started doing a much better job on the file. The negotiator ordered a new valuation.

If the new valuation comes back within range, then they will approve the file and we can close. On the subject house, the new valuation came back with the proper value.

We received a short sale approval and closed the sale a month later.

Now, there are a few problems you may run into trying to escalate a file. Sometimes the negotiator won't give you their supervisor's.

And they still won't order a new valuation or help you out. So, you're at a dead end. Here is how to get their supervisor's info.

Call the normal short sale 800 number at the lender. Tell the person answering that you are working on a file with X negotiator and you need to talk to that person's supervisor.

Say something like, "We've talked to the buyers. They will not raise their offer. We've had this house listed for 94 days and this is the best offer we've received. The buyers asked me to call and plead their case."

Most of the time, they will give you that person's name and e-mail address. Always ask for the fax and phone number as well. Most of the time you won't get that, but sometimes you can.

Before I escalated a file, we were was scared to do it. What if the negotiator got mad at us? This held us back.

The reality is that the negotiators don't get mad at all. If you're at a logjam with a file, and you have a good case on why they should accept the offer, then do the logical thing and escalate the file. 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 henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Eastlake 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, Henry Pailles.

Henry is a Real Estate Broker at houseinsandiego Realty. Eastlake Short Sales Realtor:

Phone: 619-517-6791. henry@houseinsandiego.com.

Are you at risk of losing your home? ...We can help!

View My homes for sale at http://www.houseinsandiego.com/.

Henry Pailles specializes in loan modification assistance and short sales in Eastlake California. Eastlake Loan Modification Help, Eastlake Short Sales. Eastlake Short Sale Realtor. Chula Vista CA Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.



Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

This information on Eastlake Short Sales: The Lender Won't Approve The Short Sale. Now What? is provided as a courtesy to our viewers to help them make informed decisions.

Henry Pailles, houseinsandiego Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.

If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.

Chula Vista Short Sales: How Do I Get A Loan Mod On An FHA Loan?



Eastlake CA – The Stop Foreclosure recently received a question from Grant. Here was his question.

"I have an FHA loan and want to get a loan modification. My bank is playing hardball and won't modify the loan at all. My friend got a loan modification and said it was pretty easy. What can I do to modify my loan?" Grant.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here is the answer. I don't know the specific rules for FHA Loan Modifications. But, I do know how to find them. Here is what I have learned about FHA Loan Modifications and FHA Short Sales.

The FHA Program takes the loss on any short sales or loan modifications. Because of that they get to make the decisions on how loan mods and short sales are implemented.

The FHA program is administered by the Federal Department of Housing and Urban Development. Most people call it "HUD." HUD has specific employeeds that administer the FHA Loan Program.

Those employees do not review loan modifications or short sales themselves. Instead, they give specific written instructions to the lenders that handle the loans.

These specific instructions are called Mortgagee Letters. If the lender wants to be reimbursed for any loss by the FHA Insurance, then they must follow the instructions.

They issue updates to their directions regularly with new Mortgagee Letters.

Here is the bottom line. Your lender has to follow those written instructions. The good news is that you and I can access and read thru these letters online.

To find out the specific rules for an FHA Loan Modification, you will have to read thru the following Mortgagee Letters. Mortgagee Letter 2009-35, Mortgagee Letter 2000-05, Mortgagee Letter 2002-17, Mortgagee Letter 2008-21, Mortgagee Letter 2010-11, and Mortgagee Letter 2009-23.

I just found some good information in Mortgagee Letter 2002-17. "At no time shall the loan be considered delinquent solely because the borrower has not paid late fees or other foreclosure costs."

I have seen lenders put a borrower into default status and charge late fees on late fees. One late fee can blossom into thousands of dollars in charges. It looks like FHA doesn't like that practice.

There are probably a total of 40-50 pages that you will need to read thru. But, because you know the rules you will have the upper hand in any negotiations with your lender.

I think that is worth spending a little extra time reading thru everything. 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 henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Eastlake 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, Henry Pailles.

Henry is a Real Estate Broker at houseinsandiego Realty. Eastlake Short Sales Realtor:

Phone: 619-517-6791. henry@houseinsandiego.com.

Are you at risk of losing your home? ...We can help!

View My homes for sale at http://www.houseinsandiego.com/.

Henry Pailles specializes in loan modification assistance and short sales in Eastlake California. Eastlake Loan Modification Help, Eastlake Short Sales. Eastlake Short Sale Realtor. Chula Vista CA Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.



Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Henry Pailles, houseinsandiego Realty, 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on Eastlake Short Sales: How Do I Get A Loan Mod On An FHA Loan? is provided as a courtesy to our viewers to help them make informed decisions.

How will a Chula Vista Short Sale or loan modification affect my credit score?

Eastlake CA – How do foreclosures, loan modifications or short sales affect a credit score? Your credit score will be affected by late mortgage payments and a short sale.

However, there are 2 things that are considered horrible on your credit report. Those 2 are items are foreclosure and bankruptcy.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

A foreclosure or bankruptcy will almost immediately lower a credit score by around 100 to 120 points. (The number is not hard and fast – it all depends upon what the score was before the foreclosure, and other factors that the credit bureaus don’t like to share.)

The way that they write the algorithm, a foreclosure will keep on pushing your score down for the next 2 years! A foreclosure can also stay on a credit report for 7 years.

Short sales are different from a foreclosure. Short sales and loan modifications by themselves do not hurt a credit score (depending on how they are reported.) It is the missed payments that ding your credit report.

How a short sale is coded/reported to the credit reporting bureau does make a difference in the affect it has on your score. It could be reported as a charge-off, a 120 day late payment, or a settled account.

Any of these are dings on the credit report, averaging 100 points. Here is the good news. The way they do the algorithm, it will damage your score for a shorter length of time than the 2 years a foreclosure does.

How a short sale is reported to the credit bureaus is something that can be negotiated as part of the process of the sales negotiations. Good negotiators can have a positive impact here.

But, in the end, the credit score should not be the first thing to consider when facing the decision to short sale a home.

You need to look at what is best for your family financially. The credit score is secondary to that.

Get advice from a trusted source, and then make an informed decision. 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 henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Eastlake 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, Henry Pailles.

Henry is a Real Estate Broker at houseinsandiego Realty. Eastlake Short Sales Realtor:

Phone: 619-517-6791. henry@houseinsandiego.com.

Are you at risk of losing your home? ...We can help!

View My homes for sale at http://www.houseinsandiego.com/.

Henry Pailles Moore specializes in loan modification assistance and short sales in Eastlake California. Eastlake Loan Modification Help, Eastlake Short Sales. Eastlake Short Sale Realtor. Chula Vista CA Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.



Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Henry Pailles, houseinsandiego Realty, 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on How will a Eastlake Short Sale or loan modification affect my credit score? is provided as a courtesy to our viewers to help them make informed decisions.

How To Preserve Your Credit During A Chula Vista Short Sale
Eastlake CA – If the right decision for you and your family is to sell the house as a short sale, then the sale will have an immediate effect on your credit score.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

You might feel like it’s just overwhelming and demoralizing to see your credit score take any more hits!

But, here’s the silver lining: according to most experts, 78% of Americans have ERRORS on their credit score. Why is that a silver lining?

If you have negative errors on your report that get fixed, that will be a benefit to your score.

Average people can, on their own, take steps to repair and restore their credit report/ credit score after a short sale.

Here is how to avoid any double whammies during and after your short sale.

Follow these simple steps.

1. Review your credit report. I recommend the site: https://www.annualcreditreport.com/cra/index.jsp.

Do not go to any of those “free credit report” sites. After you get the report, review everything on it.

If you see anything that is negative, inaccurate, or questionable make a note of it. On your list, write down why you disagree with that item on your report.

2. Write letters to the different credit bureaus about what you are disputing on your report. There are several sample letters available online: http://www.creditinfocenter.com/forms.

Here is a simple tip: DO NOT use the online dispute forms that are on the websites of the 3 credit reporting agencies. Write your own letter and make it short, firm, and demanding of action.

3. Mail your letters to the credit bureaus through either registered or certified mail. This is what sets the clock for them to correct issues.

The law lays out a timeline that they have to follow (45 days.) And, this gives you a record of the mailing, too.

4. Keep a file of all that you have done, including dates. Then, track your results, also.

5. When you’ve gotten back responses (or if 45 days pass and you haven’t gotten responses), then it’s time to repeat some of the process again for some item or another on your report.

If you are diligent and proactive, you might just surprise yourself by the benefits you can see in on your credit report – even after your short sale! 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 henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Eastlake 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, Henry Pailles.

Henry is a Real Estate Broker at houseinsandiego Realty. Eastlake Short Sales Realtor:

Phone: 619-517-6791. henry@houseinsandiego.com.

Are you at risk of losing your home? ...We can help!

View My homes for sale at http://www.houseinsandiego.com/.

Henry Pailles specializes in loan modification assistance and short sales in Eastlake California. Eastlake Loan Modification Help, Eastlake Short Sales. Eastlake Short Sale Realtor. Chula Vista CA Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.



Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Henry Pailles, houseinsandiego Realty, 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on How To Preserve Your Credit During A Eastlake Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Chula Vista Short Sales: Why Do Some People Worship Perfect Credit?

Eastlake CA – It always amazes me how some people will do anything to have perfect credit. They would rather go hungry than risk harming their prefect credit rating.

A good example is a guy I will call Seth. Seth has perfect credit. He has worked to keep perfect credit for the last 12 years.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Seth has a several credit cards with high balances. He ran the balances up when the economy was strong.

Today, he can barely afford to make the minimum monthly payments. However, Seth was recently turned for a car loan, despite his perfect credit. Why did that happen?

I thought that perfect credit guaranteed that you could get a loan! Well, it turns out that Seth has too much debt.

Most banks won’t lender to someone with a high Debt to Income Ratio (DTI.)They calculate that number by adding up all the bills that you pay each month.

They use these ratios to determine if you have enough money to pay them each month. Seth can barely afford to pay the minimum monthly payments on his credit card debt.

If he pays them, then he can’t afford a car payment. His family needs a car more than they need perfect credit.

In my opinion, he should stop paying the credit cards. He should use the income he does have to take care of his family.

Having a car is more important than perfect credit. If they don’t have a car, then it will disrupt his work. If that happens, then his income could drop even more.

Then he won’t be able to afford the credit card payments anyways. Besides, there are ways he can repair his credit later on, after the economy has recovered.

At least he will be able to afford living expenses in the meantime. 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 henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Eastlake 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, Henry Pailles.

Henry is a Real Estate Broker at houseinsandiego Realty. Eastlake Short Sales Realtor:

Phone: 619-517-6791. henry@houseinsandiego.com.

Are you at risk of losing your home? ...We can help!

View My homes for sale at http://www.houseinsandiego.com/.

Henry Pailles specializes in loan modification assistance and short sales in Eastlake California. Eastlake Loan Modification Help, Eastlake Short Sales. Eastlake Short Sale Realtor. Chula Vista CA Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.



Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Henry Pailles, houseinsandiego Realty, 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on Eastlake Short Sales: Why Do Some People Worship Perfect Credit? is provided as a courtesy to our viewers to help them make informed decisions.

Chula Vista Short Sales: Why Lenders Back Off When Threatened With Bankruptcy

Eastlake CA – Bankruptcy is one of the scariest words a lender can hear. A bankruptcy filing can stall their ability to foreclose by 6 months, and sometimes as long as a year.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

The lenders know that most bankruptcies will cause them to lose the ability to pursue you for any losses. This means they can’t go after you for any upside down debt.

The only thing a lender gets in a Chapter 7 Bankruptcy is any collateral they have on a loan. So they can foreclose on your house, but that is about the only thing they can do.

They can’t garnish your wages or bank accounts. So use the bankruptcy threat in your negotiations. Lenders know how much it will hurt their ability to collect from you.

The most effective technique that we have seen is to have all negotiations go thru a bankruptcy lawyer. The lawyer knows how to negotiate from a position of power.

The lawyer will also know full well exactly how bankruptcy will hurt the lender. Even if you have no intention of declaring bankruptcy the lender will get scared and cave in.

Then you can get the loan modification you deserve. 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 henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Eastlake 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, Henry Pailles.

Henry is a Real Estate Broker at houseinsandiego Realty. Eastlake Short Sales Realtor:

Phone: 619-517-6791. henry@houseinsandiego.com.

Are you at risk of losing your home? ...We can help!

View My homes for sale at http://www.houseinsandiego.com/.

Henry Pailles specializes in loan modification assistance and short sales in Eastlake California. Eastlake Loan Modification Help, Eastlake Short Sales. Eastlake Short Sale Realtor. Chula Vista CA Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.



Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Henry Pailles, houseinsandiego Realty, 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on Eastlake Short Sales: Why Lenders Back Off When Threatened With Bankruptcy is provided as a courtesy to our viewers to help them make informed decisions.

Chula Vista Short Sales: Four Specific Examples of Big Bank Negligence


Eastlake Chula Vista, CA – Here are four specific examples of big bank’s negligence causing a loan owner to lose money.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Example #1: Not giving buyers an answer on a short sale within one week. Home buyers don’t like to wait 3-6 months for an answer on a short sale. This fact causes many buyers to shy away from short sales, thereby causing short sales to sell for less.

Lenders should help the loan owners recoup as much money as possible from short sales. To do this, they make the short sale approval process as quick as possible.

They could start the property valuation process when the property is put on the market and determine a certain price they would accept.

More buyers would be willing to purchase the property because they know they wouldn’t have to wait 3-6 months for an answer on the short sale.

Example #2: Turning down loan mods that amortize at a higher value than what is netted on a short sale or thru REO. Let me explain a little better. A lender negotiates a loan mod with a borrower with a new monthly payment of $1,000.

The borrower has a stable income and agrees to pay $1,000 a month for the next 30 years. $1,000 a month for 30 years, at a 6.5% interest rate will repay a $158,210 mortgage.

The servicer turns down the loan mod and forecloses. The house sells for $125,000 as an REO and the servicer nets $115,000. Did the owner of the loan lose money?

I think most people would agree yes. Obviously there are other factors involved, but I think on an actuarial basis they will do better with the loan mod.

Example #3: Not following up on foreclosures properly. I have seen countless examples of servicers hiring an attorney to foreclose on a house. The attorney files the paperwork.

Then, the foreclosure case goes into purgatory. Nothing happen for 6 months, 12 months, 18 months, and even up to 2 years.

I have seen this happen on more than one property. And no, there are not other factors involved. In fact, on two short sales I've handled, the sellers had moved out of the house before the foreclosure was even filed.

Example #4: Not listing REO properties quickly enough. I have witnessed several examples of banks foreclosing on a house and then taking 6 months to a year to put it up for sale.

An example is a house that was foreclosed on September 9th, 2009. It wasn’t listed for sale until May 2010. Say what you want, but waiting 8 months is pathetic.

If the mortgage holder had been a wealthy individual who lived in town, do you think they would have put the home on the market a little sooner?

These are the clearest examples I can think of right now. When you multiply these examples of negligence across hundreds of thousands of defaulted mortgages, you can easily see how this is costing lenders billions of dollars. 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 henry@houseinsandiego.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 619-517-6791

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Eastlake 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, Henry Pailles.

Henry is a Real Estate Broker at houseinsandiego Realty. Eastlake Short Sales Realtor:

Phone: 619-517-6791. henry@houseinsandiego.com.

Are you at risk of losing your home? ...We can help!

View My homes for sale at http://www.houseinsandiego.com/.

Henry Pailles specializes in loan modification assistance and short sales in Eastlake California. Eastlake Loan Modification Help, Eastlake Short Sales. Eastlake Short Sale Realtor. Chula Vista CA Loan Modification Help, Chula Vista CA Short Sales. Chula Vista CA Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.



Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Henry Pailles, houseinsandiego Realty, 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 Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on Eastlake Short Sales: Four Specific Examples of Big Bank Negligence is provided as a courtesy to our viewers to help them make informed decisions.