Recommended Steps To Take Before You Strategically Default In San Diego

Eastlake CA – Here are the recommended steps to take before you strategically default. We have consulted a financial expert who recommends these steps before strategically defaulting.

He believes that taking these steps will reduce the likelihood of your lender pursuing you after a short sale or foreclosure. We have to warn you of what could happen if you take these steps.

If you stop paying your credit cards, car loan, or house payment, then you could lose your house, car, and face lawsuits from your creditors. Your credit rating will also suffer.

In addition, you risk being chased down by your credit cards. All of this is risky and no one knows for sure exactly what will happen. So consult legal counsel before you stop paying anything.

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

Step #1: Miss a payment or two on an unsecured debt. This can be a credit cards, medical bills, or signature loans. Make sure you get more than 30 days behind on the payment. If it is less than 30 days, then it won’t report to the credit bureaus.

Whether you should completely stop paying the credit cards is another decision. The expert we consulted said you don’t want to be paying your credit cards and not paying your mortgage.

He said it makes it look too obvious that you are strategically defaulting. That is a decision you will have to make on your own. I have a hard time recommending that people stop paying their credit cards cold turkey.

But, going cold turkey is necessary for a successful strategic default. Maybe you can default and settle with the credit cards after the home is sold or foreclosed.

Step #2: Go more than 30 days late on a car payment or your house payment. Then, catch back up on the payments. Remember, the goal is to look just like everyone else who is defaulting because of a loss in income.

Your credit rating will start to decline after these 2 steps. You are right on track. The financial expert said that high credit scores (700 and higher) are probably the biggest indicator lenders use to track strategic defaults.

Your credit score won’t be high anymore. This is the first thing that will make it look like your aren’t strategically defaulting.

Step #3: Go more than 30 days late on your house payment and then catch up again. Most people who experience a loss of income slowly get behind on different payments. They go past 30 days on their mortgage and then catch it back up.

They finally stop paying altogether a few months later. This leads to the next step.

Step #4: Stop paying your mortgage. You will probably want to stop paying all unsecured debts at the same time.

This will make you look as close as possible to a person who is simply having financial problems and is not strategically defaulting. 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 Recommended Steps To Take Before You Strategically Default In Eastlake is provided as a courtesy to our viewers to help them make informed decisions.

San Diego Short Sales: Yes, you can get a $3,000 check for short selling your home

Eastlake CA – If you are looking to short sale your home, then I have some good news for you. Thanks to a new government program, HAFA, you can get paid to participate in a short sale.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

If your loan qualifies for the HAFA program, then you may be eligible for a number of financial incentives. You can get up to $3,000 to help with moving costs.

Even better is the stipulation that you will be completely released from the first mortgage debt. No deficiency and no promissory note. Now you don’t have to worry about paying all that money back.

Here are a few other advantages HAFA has over a normal short sale.

1. The lender must process the short sale within 30 days.

2. Lenders are no longer required to check your financial information and confirm that your debt to income ratio is higher than 31%.

3. The short sale can often be pre-approved when it is put on the market. This is good news because it makes your home more attractive to home buyers.

As an incentive to help lenders process HAFA short sales, your lender can get a check for up to $1,500 for helping you. Contact me to see if you qualify for a HAFA 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: Yes, you can get a $3,000 check for short selling your home 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.

How To Get Your Loan Mod Approved When Negotiating With A Local, Chula Vista Lender




Eastlake CA – In my opinion, loan mods are very tough to negotiate with large lenders like Bank of America, Wells Fargo, JP Morgan Chase, or SunTrust. The reason is because you are treated like a number.

In addition, in most cases the lender doesn’t own your loan. Someone else does. So when they negotiate with you, it is simply to go thru the motions.

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

No, common sense does not apply in these situations! The good news is that common sense does apply when you are dealing with a small, local lender.

I remember hearing a credit union in my town run ads about how they didn’t treat you like a number.

The ads said something like, “When you bank with X Credit Union you aren’t a number. We talk to you on a first name basis.” I didn’t see the benefit then, but I do see it now.

I talked with a recent homeowner about how he negotiated a loan modification with a small, local lender. At first the lender played total hardball with him.

“Either pay us in full or we will foreclose”, they told him. They were firm on being paid in full. The said if he didn’t pay they would file foreclosure right away.

He was pretty and paid in full for a while. Six months later he grew tired of being dead broke (which is how his finances were after giving his lender most of his earnings every month.)

So he decided to “play chicken” with his lender. He stopped paying. His lender continued to play hardball. Finally, he consulted a bankruptcy attorney and had them take over the negotiations with his lender.

The lender backed off. They total changed their tune. No longer were they playing hardball. Now, they wanted to “work something out with him.”

Wow! What a difference that one simple thing made. Notice he didn’t have to file bankruptcy or anything.

But, the threat caused them to change their tune. In my next blog post I’ll explain why. 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 Get Your Loan Mod Approved When Negotiating With A Local, Eastlake Lender is provided as a courtesy to our viewers to help them make informed decisions

Chula Vista Short Sales: How One Agent Overcame The Odds




Eastlake CA – Sometimes it seems like short sales are tough. “Don’t try to short sale your house. Short Sales never go thru”, people tell you.

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

This isn’t true. Here is how one agent beat the odds and succeeded with a short sale.

A member of the Stop Foreclosure Institute told me about a short sale he recently worked on. Here is the story from the member.

“I had a short sale with a large national lender. The loan was owned by Fannie Mae, not the lender. We had an over zealous short sale negotiator.

We had the home on the market for several months and finally received an offer for $180,000. We submitted that to the lender with all the short sale paperwork.

The lender came back and said the price needed to be raised to $257,000 and the seller needed to sign a $50,000 promissory note.

Neither the buyer, nor seller would agree to those terms. At that point, the only alternative was to let the property go to foreclosure. But, I knew that the home would sell for even less than $180,000 and the homeowner would suffer from a foreclosure on their record.

So I did something about it. First, I knew the $180,000 was a good offer that reflected the Fair Market Value of the property. I also knew that Fannie Mae didn’t normally ask for promissory notes.

In fact, Fannie Mae’s policy is to erase the debt when the property is a primary residence. (This home was a primary residence.) Here’s what happened.

I went over the short sale negotiator’s head. I contacted Fannie Mae direct and held a 3 way call with the seller. We found out that the lender had lied. They had never even submitted the offer to Fannie Mae!

They had told us what they thought Fannie Mae should ask for. After I spoke to supervisors in Fannie Mae, I was then called by three different reps for Fannie Mae.

Within 72 hours a supervisor from the lender called up and gave me their net, which was 162k. This was well within the acceptable price of the offer of 187k offer.

The problem was that the buyers were so angry for having to wait 53 days on a 45 day allowance that they walked. However, I met another buyer and we sold the house to them.

The bottom line is the short sale negotiator lied, and got busted lying. I had to send in comparables and beg the BPO agent to get the inside scoop.”

As you can see, some agents are making things happen with short sales. This agent did an awesome job. He thought of calling Fannie Mae direct on his own. As you can see, not taking no for an answer helps you to be successful on a 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 Eastlake Short Sales: How One Agent Overcame The Odds is provided as a courtesy to our viewers to help them make informed decisions.

Chula Vista Short Sales: A Little Known Fact About Short Sale Negotiators

Eastlake CA – A negotiator at a large bank tried to mislead a Stop Foreclosure Institute Member. She really got on our nerves.

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

You see, we've spent the last few years figuring out all the guidelines for short sales. If the loan being shorted is an FHA Loan, VA Loan, Fannie Mae Loan, or Freddie Mac Loan, then the guidelines for the short sale are different.

In this case, the loan being shorted was an FHA loan. Here's what happened.

FHA puts out a letter called "Mortgagee Letter 2008-43." It details exactly how the lender handling a short sale on FHA’s behalf is supposed to negotiate on a short sale.

This letter is 16 pages long and gives them specific directions on how much to pay agents, what percentage of the appraisal they can accept, etc. (If you're doing an FHA short sale, then Google "Mortgage Letter 2008-43.")

Because of a prior horrible experience on another FHA short sale, we had studied up on the FHA short sale guidelines. Bottom line, we know a little bit about FHA's rules for short sales.

The problem was that this short sale negotiator didn't want to follow the rules! Instead she made up her own rules!

She told me that the buyer and seller had to split the cost of the title insurance. The problem is that on page 12 of the Mortgage Letter, it says that they are allowed to approve a file paying the standard title insurance costs.

In the area where the property was selling, it was standard for the seller to pay for the title insurance. Because of that the buyer wasn’t willing to pay the cost and threatened to back out of the deal.

This short sale negotiator wouldn’t budge. We had to argue back and forth with her for 2-3 days until she finally relented.

It is pretty frustrating when a large bank won’t follow the specific short sale guidelines laid out by the owner of the loan. If the loan owner gives you specific instructions on how to negotiate a short sale, then follow those instructions!

Before you hire a short sale agent, make sure they understand the guidelines for your type of loan. That way, when a short sale negotiator tries to break the rules, they can keep them in line. 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: A Little Known Fact About Short Sale Negotiators is provided as a courtesy to our viewers to help them make informed decisions.

Why Chula Vista Short Sales Sell For A Higher Price Than A Chula Vista Foreclosure?

Eastlake CA – People often wonder why their lender will release their debt in a short sale. Most lenders don't like to release the debt. But, they agree to do it because they know that policy nets them more money.

They net more because a home usually sells for more money as a short sale versus after it has been foreclosed upon. Let's go thru a few examples.

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



[caption id="attachment_1560" align="alignright" width="300" caption="Most Short Sales Are Well Kept Up And Attractive To Buyers."] [/caption]

See the home in the top picture? You can see that it is good shape. Most short sales are being sold while the homeowner lives in the home.

The homeowners are able to keep the house up. They keep the inside clean and neat. In addition, they mow the lawn and keep up on the yard.

This makes a big difference in the sales price. Would you rather buy a home that is in great condition or one that needs work?

Now look at the home in the bottom picture. That is an abandoned home in foreclosure. No one is there to keep up on the yard.

[caption id="attachment_1561" align="alignright" width="300" caption="Abandoned Home in Foreclosure."][/caption]

The inside of the home is probably dirty. Vagrants can break into the home. The home is also an easy target for vandalism.

The bottom line is that most short sales are in better shape than a foreclosed home. In fact, they are usually in much better shape.

That is why they sell for more money, thereby cutting the lender's losses. 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 Why Eastlake Short Sales Sell For A Higher Price Than A Eastlake Foreclosure is provided as a courtesy to our viewers to help them make informed decisions.

Eastlake, Rancho del Rey, Otay Ranch & Rolling Hills
Short Sales: This Short Sale Negotiator Isn't Doing His Job



Eastlake CA – Here is a question that the Stop Foreclosure Institute recently received. "I am in the middle of a very long negotiation with Chase.

The seller had me to put a clause into the contract stating “upon approval of short sale by sellers’ lender, lenders, & or affiliates, client, or heirs will be released from any monetary shortages or deficiencies from said sale of stated property upon successful closing and transfer of title from that date and forevermore.”

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

The short sale negotiator at the lender, Nathan W, has advised me that he will reject the file and close it out if we don’t remove this from the contract. What do you think?

After reading your comments below, I am not sure of what will happen. How should I pursue this?" James.

Here was our answer: I think the negotiator is getting his ego involved. Many investors waive promissory notes. He is out of line (and breaching his lender's fiduciary duty to the owner of the loan) if the following applies:

1. If it is the loan owner's policy to not pursue a deficiency.

2. If accepting this short sale will net the loan owner more money than a foreclosure.

If those two things apply, then this negotiator is in breach of their fiduciary duty to the loan owner. You and I don't have millions of dollars to pursue a lawsuit, but we can contact the loan owner directly to let them know what is happening.

If they are going to lose money not accepting the short, then they need to know about Chase doing a lousy job.

Now, the negotiator has the authority to demand a promissory note depending upon who the owner of the loan is. Find out who the owner of the loan is.

Fannie, Freddie, FHA, VA, etc. Fannie, Freddie, FHA, and VA will let the borrower go free from all future liability. Obviously that doesn't apply if there is Mortgage Insurance. If the investor is one of those entities, then tell the negotiator that you will be contacting them directly.

When a bank should accept your short sale. A bank should accept your short sale when the following rules apply. All banks and servicers have a fiduciary duty to the investor of the loan.

If they own the loan themselves, they have a fiduciary duty to their stockholders. The duty is to get that investor the most money possible. So, a lender should accept an offer if it will net the most money.

Here is how we can assure the negotiator that the offer will net them the most money. Your only job is to prove that to the negotiator.

Do that by showing them that the property has been on the open market for 60-90 days. We need to be able to show that the house was easy for buyers to see and other agents to show.

Ask them the following, "I'm an experienced agent and I've had this house listed for X days. The seller has lived there the entire time and kept up on the house. It looks good. We have had 43 showings since then.

Out of that, only 3 buyers expressed interest. Out of those 3 buyers, the current buyer is the one willing to pay the most money. I'm doing my job marketing the property.

With the current foreclosure case status, the home won't be foreclosed until June or July. When you foreclose on the house, the owners will move out. The house won't be kept up anymore.

The listing agent will be working on 20 other homes and won't be able to do as good of a job as myself. Do you honestly think the home is going to sell for more money at that time?

They will have to agree that it is a losing proposition. 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 619-517-6791 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: This Short Sale Negotiator Isn't Doing His Job is provided as a courtesy to our viewers to help them make informed decisions.

Eastlake Chula Vista Short Sales: The Homeownership Rate continues to drop



Chula Vista, Eastlake CA – Barron’s Magazine recently had an article titled "Renter Nation." In it, they detailed the various factors at work that will reduce the homeownership rate in America.

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

The homeownership rate has already dropped from 69.2% to 66.9% today. Here is one of the factors Barron’s said would cause the homeownership rate to drop. Experts project that the average American Household will become younger over the next decade.

Younger households are more likely to rent versus purchase a home. However, the article missed another big factor. So many people have ruined their credit and can't qualify for a mortgage.

How many people in America are doing a loan modification, short sale, or let their home be foreclosed upon? It's hard to buy another home when that happens. Demographics, the lousy economy, and the credit disaster combined mean that demand for homes may stay low for a long time.

The positive news is that all of these factors have propped up the rental market. Rental rates are actually increasing in most areas, despite the slow economy.

I think one of the reasons this is happening is because banks are so reluctant to modify loans.

And, even thought rental rates have increased, they are usually lower than owning a home bought at the peak of the market. 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 specialize 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: The Homeownership Rate continues to drop is provided as a courtesy to our viewers to help them make informed decisions.

Eastlake, Rolling Hilles, Otay Ranch and Rancho del Rey Short Sales: What is a BPO and why does it matter on a short sale?



Eastlake CA – Some agents hate short sales. Why? Because they don't understand them. So, don't believe them when they tell you that short sales are impossible.

I will explain what causes their problems in today's post.

There are two things you must understand if you are doing short sales. They are BPOs and HUD-1s. A BPO is what the short sale lender uses to determine the value of the property.

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

BPO stands for "Broker's Price Opinion." They are what another real estate agent (Broker) thinks a property is worth.

Basically the agent gives their opinion of the value of the property. "I think it is worth 300k", they put on the report. Lenders accept or reject short sale offers based on the BPO value.

If the agent has given a value of 300k, then a short sale lender will not accept a sales price of 250k. The problem is that, in my opinion, sometimes the values are inaccurate.

I have seen agents drive 50 miles away to evaluate a property. They go to a place where they do not sell real estate. As a result they are not familiar with the local marketplace.

Because of this I always try to meet the agent doing the BPO at the property. I explain the market value to them and tell them what is happening with the property.

I explain exactly why the property is selling for the sale price. I tell them what buyers have said about the property and why it isn't selling for a higher price. This helps them to give an accurate value.

The lender gets an accurate value and is able to make a better decision on the 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 2010 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: What is a BPO and why does it matter on a short sale? is provided as a courtesy to our viewers to help them make informed decisions.

Would Dave Ramsey Love A Chula Vista, Eastlake Short Sale?


Eastlake Chula Vista, CA – You might have heard of Dave Ramsey. He has a popular radio program where he talks explains the benefits of getting out of debt.

Dave is a zealot for the debt free life. "You don't need to see the inside of a restaurant unless you are working there", he will tell people in financial trouble that call his show.

What does Dave recommend people do to get out of debt? Reduce spending, eat at home, pay off high interest debt first, etc.

Here is why I think Dave would love a short sale. A short sale is a great way to reduce debt. Where else can you wipe out $100,000, $200,000, and even more in debt? That will make up for eating a lot of rice and beans.

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

Do you have a house that is underwater to the tune of $50,000 or more? Try a short sale. It's a great way to erase all that upside down debt.

You can rent another home for 2-3 years until the market has bottomed out. Then, you can buy at the bottom. Not only will you save on a lower house price.

You will also save on the interest over the life of the loan. Did you know that on the average 30 year mortgage, you pay as much in interest as you pay for the house?

If you wiped out $100,000 in upside down debt, then that means you actually wiped out another $100,000 in interest. I think Dave would be proud. 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 specialize 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 2010 SFI Marketing Institute, LLC. All Rights Reserved. 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. The views expressed here are Henry Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on Would Dave Ramsey Love A Eastlake Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Eastlake Chula Vista Short Sales: Don’t sweat it if the first buyer gets impatient and walks off


Eastlake Chula Vista, CA – Short Sales can be frustrating. It can take a long time for the lender to process everything and finally give the buyer an answer on their offer.

Oftentimes, by the time the lender makes a decision, the buyer has gotten impatient and moved on to another property.

Most lender short sale departments are overworked. That is why it takes 60-90 days for them to get back with an answer on the short sale.

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

Some buyers get impatient and move on before they get an answer. On the other hand, we have seen some buyers wait for 4-5 months to get an answer on their offer.

The lender approved their offer and they bought the house. That’s why we don’t sweat it if a buyer gets impatient. Another buyer will come along and buy the house and wait the necessary time for their offer to be approved.

Besides, we usually know what price the lender will accept and the next buyer’s offer can be approved much faster. 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 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 specialize 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 Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. 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. The views expressed here are Henry Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on Eastlake Short Sales: Don’t sweat it if the first buyer gets impatient and walks off is provided as a courtesy to our viewers to help them make informed decisions.

Seven Ways You Benefit From A Short Sale
Eastlake CA – A home owner thinking of a short sale recently asked us why they should short sale versus just walking away and letting their lender foreclose on the home. We gave them the normal answer: “It’s much better for your credit.”

That was the first thing that popped into our head. But, I knew there are more benefits to a home owner than simply better credit. So I put together the entire list and here they are.

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

1. The upside down debt is erased in most cases. If you are selling because of a financial hardship, then the upside down debt will be automatically erased in most cases. Is your loan is owned or insured by the following agencies: Fannie Mae, Freddie Mac, FHA, and or VA? If you are short selling because of a financial hardship, their policies state that your debt will be erased.

2. You are eligible to buy another home much sooner compared to a foreclosure. The most common loan program, Fannie Mae, stipulates that you can buy another home under their program in 2 years. FHA, a popular low down payment loan program stipulates that you can qualify for an FHA loan within 3 years.

3. No Cost To You. That is right. A short sale costs you nothing. All of the expenses are paid for by your lender. That includes the title insurance, any county taxes or fees on the sale, attorney fees, and the Real Estate Agent. If the lender foreclosed on the house and then tried to sell it, they would have to pay all the costs. So why not pay the costs with a short sale?

4. Your credit suffers less damage. Most people think that a short sale will be the kiss of death to their credit. That is the one big advantage of a short sale over a foreclosure.

Upon completion of the short sale, your credit score will drop between 50 and 100 points. However it will rebound fairly quickly. The other benefit is that you will have less debt. (A lot of debt hurts your credit score.) You will have a lower debt to income ratio, which will boost your credit.

In a couple of years your credit will be back to normal and you can buy another home. In addition, anything and everything bad on your credit can be fixed thru the dispute process.

5. You can often rent a comparable house for less than your former mortgage payment. In one example, a homeowner in foreclosure found a larger home. It even had a fenced backyard for their kid and a garage. Their prior mortgage payment was $1,500. They rented the nicer, bigger house for $850 a month.

6. You avoid the humiliation of a foreclosure.

7. You don’t have to pay rent during the short sale process. A short sale can take up to 6 or 9 months. Not all of them do. But, some do. If you aren’t concerned about your credit, then you can stop making your mortgage payments during the short sale. You can use the savings for the deposit on a rental.

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 specialize 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 Short Sale Realtor. Eastlake CA Short Sales. Eastlake Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. 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. The views expressed here are Henry Pailles's personal views and do not reflect the views of houseinsandiego Realty.

This information on Seven Ways You Benefit From A Eastlake Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

It is likely that up to 40% of all homeowners with a mortgage are upside down!

According to Nouriel Roubini (who predicted the housing crash) in an Interview by Steve Forbes:
 
In regards to residential real estate:


1) He believes that prices are at the bottom. He is expecting another 5% drop in values on a national level.
2) 12,000,000 homes are currently underwater…negative equity…they owe too much.
3) Added to the 12,000,000 are another 8,000,000 who are nearly underwater…they owe almost what the house is worth. (Taken together, thats potentially 20,000,000 underwater owners) What does this mean….
4) If prices do indeed fall another 5% (as he and many others are expecting) that means there will be (as mentioned in #3) 20,000,000 underwater owners. Translated: There are 50,000,000 homeowners WITH a mortgage. So, if there is indeed another 5% loss in property value 40% of ALL OWNERS WITH A MORTGAGE WILL BE UPSIDE DOWN.
5) Roubini suggests that the only real solution to ending this housing crisis…is….negative equity forgiveness. What we are calling a ‘Radical Refinance’. Read Professor Roubini’s proposal..and share your thoughts..

Forbes: You mentioned housing. Commercial real estate has been a shoe that people have been expecting to drop now for over two years. Is that going to drop? Or are the banks going to find a way to absorb that?

Roubini: In some sense, the problems of the commercial real estate have not been resolved, either. Price-wise, actually, commercial real estate has fallen in price level more than housing. It’s 40%, as opposed to 30%, based on what is the index of commercial real estate prices.

Many properties are also deeply underwater. You have about $2 trillion of mortgages or exposure, half of it has been securitized. Most banks are holding this stuff, still 100 cents on the dollar, on their books, even it’s worth more like 50, 60 at best. And the Fed has decided to use regulatory forbearance to fudge it, to pray and delay, extend and pretend.

Forbes: Right.

Roubini: And these problems have not been resolved. A lot of this exposure, actually, is among the smaller banks or the medium sized regional banks. And if they’re to write down these assets, the capital losses will be significant. So for the time being, it’s kicking the can down the road and hoping that maybe prices start realizing the recovery. But there is such a glut of capacity throughout the country that I think that, you know, we’re going to stay in this slump for quite a while.

Get Out Of The Slump

Forbes: What would it take to get out of the slump?

Roubini: Well, in the case of residential real estate, I would say prices and quantities have fallen so much from the peak, that probably they are close to the bottom. But the trouble is that you have millions of houses that are deeply underwater. 12 million of them already underwater today. And about another 8 million have a mortgage with a loan to value ratio between 95 to 100%.

That means that the 5% correction in national home price–something that I expect–is going to put another 8 million houses underwater. That means 20 million out of the 50 that have a mortgage, or 40% of houses with a mortgage, are going to be underwater.

And I think that a good chunk of the household sector is effectively insolvent–is buried under a mountain of mortgage debt, credit cards, auto loans, student loans, personal loans. And once you have such a massive problem, you cannot resolve it case by case, household by household. You need to have something of an across the board reduction of that burden to restructure just the face value of these mortgages.

Now you can convert, like we do for corporate restructuring, some of that debt into equity if you reduce the face value and then you make the creditor effectively a shareholder in the house by giving them the upside to warrants. So maybe a solution would be like in corporate restructuring, to convert some of these debt into equity so that at least if the prices rise again, there’ll be some of the upside for the creditors. But we need to do something more significant than we’ve done so far.

Forbes: Why have the government efforts to do something about housing been such a failure so far?

Roubini: Well, in some sense, we’ve done too much, in some sense, we’ve done too little. You know, if you need an across-the-board reduction in the face value of the mortgages, some legislative action has to be taken to induce banks or induce the creditors to take these kind of losses. I think that the government has been partly resistant because of a moral hazard problem.

If you start giving debt forgiving to some households and maybe incentivize others who are paying their mortgages now to talk away from them. So I think that some people senior in the White House have told me that that’s their concern, that you have a moral hazard problem that you have to deal with.

I think there are ways of dealing with that. You could say anybody who has defaulted up to a certain date will get his debt reduction, after that, not. You can make it mean tested. And there are ways to limit that moral hazard problem. But back in the thirties we create an institution that took over all the mortgages that reduce the face value, converted them into longer term, lower interest rate debt, and people stayed in their homes. And they were able, eventually, to pay it back. If we don’t do something radical probably we’ll have this kind of case by case process are going to take decades to resolve. And the cancer in the housing is going to stay with us.