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Thursday, July 28, 2011

Ventura County Short Sale Myth: I will have a deficiency no matter what happens


Ventura County CA – Some homeowners looking to short sell their home think that they will have to repay their lender for the entire loss. It’s unfortunate to see them stress out and lose sleep at night wondering how they will repay the debt.

A short sale loss is usually a large bill for the average homeowner. They don’t know how they will come up with that sum of money to repay the lender.

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

The good news is that most homeowners will not have to repay the lender for the loss. Here is why.

Most loans are owned or insured by Uncle Sam. Around 65-70% of all loans are owned by Fannie Mae or Freddie Mac, or insure by FHA or VA.

Uncle Sam’s policy so far has been to allow homeowners experiencing a hardship to walk away from the debt.

This is good news if you have a Fannie Mae, Freddie Mac, FHA ,or VA loan. Contact me and I’ll research if your loan is one of these types.

In many other cases, lenders will simply agree to erase the debt. They know that you can’t squeeze money from someone who is having financial problems. You can check with a good attorney to find out the laws in your state. There are also legal aid non profits that can give you advice on what to do to stop a garnishment or bank account seizure. You should also look at California SB458. With the passage of SB458, the Expanded Anti-Deficiency Law May Have Unintended Consequences on Ventura County Short Sales. So Please read http://venturacountyshortsalerealtor.com/?p=948.

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 curryteam@gmail.com. I will contact you for a free consultation.

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 cjohnson@prucalhomes.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 805-208-0823

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

Thinking about a loan modification? Our Ventura County 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,
Chris B Johnson, Realtor

Chris is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823. cjohnson@prucalhomes.com.

Certified HAFA Specialist, Certified Short Sale Specialist

Which way is the Real Estate Market Headed? Get a Market Snapshot of your neighborhood:
MLS Market Snapshot Has the Market Stabilized

View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor,
www.theshortsaleguide.com
Certified Home Affordable Foreclosure Alternative Specialist .

For Disclosure, and more information on Mortgage Assistance Relief Services, please see 16 Code of Federal Regulations, Part 322, or .
http://www.ftc.gov/opa/2010/11/mars.shtm
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Chris B Johnson, Prudential California 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 Chris's personal views and do not reflect the views of Prudential California Realty.

This information on Ventura County Short Sale Myth: I will have a deficiency no matter what happens is provided as a courtesy to our viewers to help them make informed decisions.

Wednesday, July 27, 2011

Three Ways To Reduce Your Ventura County Short Sale Deficiency


Ventura County CA – No one wants a deficiency on a short sale. It’s not your fault the housing market crashed. In fact, some people say that the banks and Wall Street are what caused the crash.

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

Here are four ways that you can reduce the deficiency amount on your short sale.

1. Negotiate with the lender. Many lenders will settle for substantially less than what they are owed. For example, we have seen lenders settle for as low as 10 cents on the dollar.

In one case, the lender lost over $100,000 on a short sale. They settled with the home owner for a $10,000 promissory note to be repaid over 10 years with zero interest.

Lenders will reduce the amount to settle for over time. They know that the longer they go without being paid, then the less likely it is they will ever be repaid at all. They agree to settle because they know that something is better than nothing.

2. Declare Bankruptcy. If your bankruptcy is approved, then you may be able to have all of the debt erased in a Chapter 7 Bankruptcy.

The problem is that not everyone qualifies for bankruptcy. The bankruptcy laws were changed in 2005 and made it much harder for the average American to qualify for bankruptcy. Talk to a bankruptcy lawyer to see if you qualify.

You may not meet the Bankruptcy “Means Test.”

3. Hire a good attorney. Find a good attorney that specializes in defending consumers from collections. Your attorney may be able to find a loophole in the law that makes the debt invalid.

Be careful that you find a lawyer that specializes in this category of the law. You don’t want to pay an attorney to learn on your dime. There are a lot of great lawyers that can help you.

4. Fight the lender’s collections on your own. This is much easier when you genuinely do not have the money to pay. Many people are just scraping by.

Every dime they make is being used towards paying rent, car payments, utilities, and food for your family. Most states will not allow a creditor to take food out of your mouth.

You can check with a good attorney to find out the laws in your state. There are also legal aid non profits that can give you advice on what to do to stop a garnishment or bank account seizure. You should also look at California SB458. With the passage of SB458, the Expanded Anti-Deficiency Law May Have Unintended Consequences on Ventura County Short Sales. So Please read http://venturacountyshortsalerealtor.com/?p=948.

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 cjohnson@prucalhomes.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 805-208-0823

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

Thinking about a loan modification? Our Ventura County 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,
Chris B Johnson, Realtor

Chris is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823. cjohnson@prucalhomes.com.

Certified HAFA Specialist, Certified Short Sale Specialist

Which way is the Real Estate Market Headed? Get a Market Snapshot of your neighborhood:
MLS Market Snapshot Has the Market Stabilized

View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor,
www.theshortsaleguide.com
Certified Home Affordable Foreclosure Alternative Specialist .

For Disclosure, and more information on Mortgage Assistance Relief Services, please see 16 Code of Federal Regulations, Part 322, or .
http://www.ftc.gov/opa/2010/11/mars.shtm
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Chris B Johnson, Prudential California 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 Chris B's personal views and do not reflect the views of Prudential California Realty.

This information on Three Ways To Reduce Your Ventura County Short Sale Deficiency is provided as a courtesy to our viewers to help them make informed decisions

Tuesday, July 26, 2011

Ventura County Short Sales: What Do Lenders Consider A Legitimate Hardship For A Short Sale?


Ventura County CA –We had a question about FHA short sales yesterday. We did some research on FHA short sales as a result. We stumbled upon something interesting.

We have a list of all of the things that FHA considers legitimate hardships for a short sale. Click here to view the actual list from FHA. The good news is that if FHA considers something a hardship, then it is likely that most lenders agree.

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

Here is the list of things that FHA thinks are a legitimate hardship for a short sale.

* Death of Principal Mortgagor.

* Illness of Principal Mortgagor.

* Illness of Mortgagor's Family Member. Extraordinary medical expenses are part of the equation.

* Death of Mortgagor's Family Member. Extraordinary expenses are part of the rational.

* Marital Difficulties.

* Reduction in income.

* Excessive Obligations. No loss of income. To quote FHA, "The delinquency is attributable to the mortgagors(s) having incurred excessive debts(either in a single instance or as a matter of habit) that prevent him or her from making payments on both those debts and the mortgage debt."

Job Transfer.

* A Problem with the property such as poor quality construction, expensive repairs being needed, etc.

* Inability to Rent Property.

* Military Service where the person can't afford their house because their paycheck won't enable them to cover the payment.

* Unemployment / Job Loss.

* Business failure.

* High Energy Costs. Your income and everything else stays the same, but your utility bill shoots thru the roof. To quote FHA, "All other factors remained the same, but sharp increase in utility cost(s) deferred funds that would have been available for the mortgage payment or costs associated with the removal of environmental hazards in, or near the property."

* Payment Adjustment. To quote FHA, "Delinquency began after either increase in P&I for ARM mortgage or after escrow analysis where one or more escrow item increased, including the spreading of the amount needed to repay an escrow shortage over the next year."

* Incarceration.

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 cjohnson@prucalhomes.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 805-208-0823

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

Thinking about a loan modification? Our Ventura County 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,
Chris B Johnson, Realtor

Chris is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823. cjohnson@prucalhomes.com.

Certified HAFA Specialist, Certified Short Sale Specialist

Which way is the Real Estate Market Headed? Get a Market Snapshot of your neighborhood:
MLS Market Snapshot Has the Market Stabilized

View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor,
www.theshortsaleguide.com
Certified Home Affordable Foreclosure Alternative Specialist .

For Disclosure, and more information on Mortgage Assistance Relief Services, please see 16 Code of Federal Regulations, Part 322, or .
http://www.ftc.gov/opa/2010/11/mars.shtm
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Chris B Johnson, Prudential California 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 Chris B's personal views and do not reflect the views of Prudential California Realty.

This information on Ventura County Short Sales: What Do Lenders Consider A Legitimate Hardship For A Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Ventura County Short Sale Fallacy : I Have To Go Thru The Loan Mod Process Before I Can Short Sell


Ventura County CA – The Stop Foreclosure Institute recently received a question from Tonia about short sales. Apparently Tonia has been mislead by her lender.

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

Here is Tonia's question about short sales. "I've been trying to sell my house for over a year now and have since remarried and moved into my husband's house.

I told the realtor I am willing to do a short sale so she called my mortgagor (short sale dept) and they said to just send in the bid. Well, they received a bid but will not accept it.

They said it is because I haven't gone through the loan modification process that FHA loans have to go through first before a short sale can be done. I don't want to modify my loan. I want to be dismissed from it.

I'm current on my payments because the same guy told me that I could be current and still do a short sale which it isn't sounding like now. Any advise would be great.

My house payment is due next week and if it is going to take me not making payments to get this short sale through I won't make them. Tonia."

Here was our response to Tonia. It sounds like you are being mislead. FHA issues guidelines to lender's that handle their loans. Their guidelines say nothing about a loan modification having to be done first.

You can look up the guidelines for FHA Short Sales. Just google: "Mortgagee Letter 2008-43. I have read thru this countless times and didn't remember a requirement for a loan modification first.

I just scanned thru it again and didn't see it this time. I do remember we go into this same argument with another short sale negotiator. They said we had to go thru the loan mod process before they could process the short sale.

We told them we had read thru the entire letter and knew it didn't have that requirement. They backed off and processed the short sale. You just have to be firm.

And if they aren't following FHA's rules, then call up FHA and let them know. FHA may fine them for breaking the rules.

Thinking about a loan modification?Our Ventura County loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at cjohnson@prucalhomes.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 cjohnson@prucalhomes.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 805-208-0823

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

Thanks for reading this,
Chris B Johnson, Realtor

Chris is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823. cjohnson@prucalhomes.com.

Certified HAFA Specialist, Certified Short Sale Specialist

Which way is the Real Estate Market Headed? Get a Market Snapshot of your neighborhood:
MLS Market Snapshot Has the Market Stabilized

View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor,
www.theshortsaleguide.com .Certified Home Affordable Foreclosure Alternative Specialist .

For Disclosure, and more information on Mortgage Assistance Relief Services, please see 16 Code of Federal Regulations, Part 322, or .
http://www.ftc.gov/opa/2010/11/mars.shtm
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Chris B Johnson, Prudential California 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 Chris B's personal views and do not reflect the views of Prudential California Realty.

This information on Ventura County Short Sale Myth: I Have To Go Thru The Loan Mod Process Before I Can Short Sell is provided as a courtesy to our viewers to help them make informed decisions.

Saturday, July 23, 2011

Ventura County Short Sale Myth: If I Sell For More, Then I Won’t Have A Deficiency


Ventura County CA – Some sellers think that if they sell their house for more money, then they are less likely to have a deficiency. Let me explain why that is not true.

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

Another realtor recently told us about a short sale they were involved in. This realtor was representing the buyers purchasing the house.

The short sale negotiation company the sellers were using told the sellers that unless the house sold for $295,000, then the sellers would have a short sale deficiency.

Because of this, the sellers wouldn’t accept the buyer’s offer. I told them that couldn’t be true. Here is how short sale negotiations work.

A lender is losing money on a short sale. In most cases, they are losing a lot of money.

Losing just a little bit more money is not going to cause them to change their mind on whether or not they should pursue a deficiency.

A sales price that is $17,000 lower is trivial when compared to a $100,000 loss. Stop Foreclosure Institute Members have negotiated hundreds of short sales.

In most cases, the lender is either pursuing a deficiency or not pursuing one. A slightly higher sales price won’t change their mind either way.

They will either accept the short sale offer on the table, or counter at a price they will accept. They will pursue a deficiency even if the property sells for more money. With the passage of SB458, will the Expanded Anti-Deficiency Law Have Unintended Consequences on Ventura County Short Sales? Please read http://venturacountyshortsalerealtor.com/?p=948.

Thinking about a loan modification?Our Ventura County loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at cjohnson@prucalhomes.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 cjohnson@prucalhomes.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 805-208-0823

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

Thanks for reading this,
Chris B Johnson, Realtor

Chris is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823. cjohnson@prucalhomes.com.

Certified HAFA Specialist, Certified Short Sale Specialist

Which way is the Real Estate Market Headed? Get a Market Snapshot of your neighborhood:
MLS Market Snapshot Has the Market Stabilized

View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor,
www.theshortsaleguide.com ,Certified Home Affordable Foreclosure alternative Specialist .

For Disclosure, and more information on Mortgage Assistance Relief Services, please see 16 Code of Federal Regulations, Part 322, or .
http://www.ftc.gov/opa/2010/11/mars.shtm
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Chris B Johnson, Prudential California 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 Chris B's personal views and do not reflect the views of Prudential California Realty.

This information on Ventura County Short Sale Myth: If I Sell For More, Then I Won’t Have A Deficiency is provided as a courtesy to our viewers to help them make informed decisions.

Friday, July 22, 2011

Yes, a Ventura County Short Sale May Actually Help Your Credit


Ventura County CA – The Stop Foreclosure Institute recently received an e-mail from a succesful short sale seller. We had helped him short sale his house.

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

Here is his e-mail.

“Hi, I hope all is well. I am getting back to you on my credit scores. My score went from 663 in Feb. to 770 in June.

I know this is counter intuitive but must be because my outstanding debts were reduced. I am happy with this. Julio. “

I agree with him. I think the reduction in debt actually helped his credit score. We see so many people that are leveraged over their head. They keep paying everything on time because they don’t want back credit.

But, they can’t get a loan because they owe too much money. So even thought their credit is good, they still can’t get a loan. That’s crazy! Don’t you agree?

Our theory is that this guy falls into that category. When he short sold his house, it actually helped out his credit rating because it erased so much debt.

Yes, how much debt you have does make up part of your credit rating. The credit bureaus won’t tell exactly how much it affects your score. But, it does affect it.

So, a short sale might actually help your credit score. E-mail us if you know of any other stories like this.

Thinking about a loan modification?Our Ventura County loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at cjohnson@prucalhomes.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 cjohnson@prucalhomes.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 805-208-0823

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

Thanks for reading this,
Chris B Johnson, Realtor

Chris is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823. cjohnson@prucalhomes.com.

Certified HAFA Specialist, Certified Short Sale Specialist

Which way is the Real Estate Market Headed? Get a Market Snapshot of your neighborhood:
MLS Market Snapshot Has the Market Stabilized

View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor,
www.theshortsaleguide.com ,Certified Home Affordable Foreclosure Alternative Specialist .

For Disclosure, and more information on Mortgage Assistance Relief Services, please see 16 Code of Federal Regulations, Part 322, or .
http://www.ftc.gov/opa/2010/11/mars.shtm
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Chris B Johnson, Prudential California 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 Chris's personal views and do not reflect the views of Prudential California Realty.

This information on Yes, a Ventura County Short Sale May Actually Help Your Credit is provided as a courtesy to our viewers to help them make informed decisions.

Thursday, July 21, 2011

Timeframe for Borrowers to be Eligible for Financing after a Ventura County Short Sale, Deed-in-Lieu, Bankruptcy…


What is the Timeframe for Borrowers to be Eligible for Financing after a Ventura County Short Sale, Deed-in-Lieu, Bankruptcy…

Conventional/ FNMA/ Freddie Mac Foreclosure

If a foreclosure occurs as the result of extenuating circumstances, such as a loss of job or illness, or if the foreclosure is due to financial negligence or mismanagement, at least seven years must have elapsed from the date of foreclosure to the date of closing of the new transaction.
Short Sale, Pre-Foreclosure and Deed-in-Lieu

A. If a short sale, pre-foreclosure or deed-in-lieu occurs as the result of extenuating circumstances, such as a loss of job or illness, at least two years must have elapsed from the date of closing on the short sale, pre-foreclosure or deed-in-lieu to the end date of closing of the new transaction with a maximum LTV of 90%.

B. If the short sale, pre-foreclosure or deed-in-lieu is due to financial negligence or mismanagement, at least two years must have elapsed from the date of closing on the short sale, pre-foreclosure or deed-in-lieu to the date of closing of the new transaction with a maximum LTV of 80%. At least four years must have passed for a maximum LTV of 90%, and at least seven years must have passed for no restrictions on LTV.

Bankruptcy

Chapter 7 or 13 Bankruptcy: 4 years since discharge/dismissal
Chapter 7 or 13 Bankruptcy with extenuating circumstances: 2 years since discharge/dismissal

Borrowers with multiple BK filings in last 7 years: 60 months since most recent discharge/ dismissal

VA

Foreclosure, Short Sale and Bankruptcy
In general, financing can be done two years after the adverse credit hit for a loan amount up to $417,000 or seven years for loan amounts over $417,000. If the foreclosure was on a VA loan, the applicant may not have full entitlement available for the new loan.

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

FHA

Short Sale

A borrower is not eligible for a new FHA-insured mortgage if s/he pursued a short sale agreement on his or her principal residence simply to
a. take advantage of declining market conditions, and
b. purchase at a reduced price a similar or superior property within a reasonable commuting distance.

Borrowers Current at the time of Short Sale

A borrower is considered eligible for a new FHA-insured mortgage if, from the date of loan application for the new mortgage;
a. all mortgage payments due on the prior mortgage were made within the month due for the 12 month period preceding the short sale, and
b. all installment debt payments for the same time period were also made within the month due.

Borrowers in Default at the time of Short Sale

A borrower in default on his or her mortgage at the time of the short sale (or pre-foreclosure sale) is not eligible for a new FHA-insured mortgage for three years from the date of the pre-foreclosure sale.

Note: A borrower who sold his or her property under FHA’s pre-foreclosure sale program is not eligible for a new FHA-insured mortgage from the date that FHA paid the claim associated with the pre-foreclosure sale.

Foreclosure

A borrower is generally not eligible for a new FHA-insured mortgage when, during the previous three years;
a. his/her previous principal residence or other real property was foreclosed, or
b. he/she has given a deed-in-lieu of foreclosure.

Bankruptcy

Chapter 7 Bankruptcy

A Chapter 7 bankruptcy (liquidation) does not disqualify a borrower from obtaining an FHA-insured mortgage, if at least two years have elapsed since the date of the discharge of the bankruptcy. During this time, the borrower must;
a. have reestablished good credit, or
b. chosen not to incur new credit obligations.
An elapsed period of less than two years, but no less than 12 months may be acceptable for an FHA-insured mortgage, if the borrower;
a. can show that the bankruptcy was caused by extenuating circumstances beyond his/her control, and
b. has since exhibited a documented ability to manage his/her financial affairs in a responsible manner.
Note: The lender must document that the borrower’s current situation indicates that the events that led to the bankruptcy are not likely to recur.

Chapter 13 Bankruptcy

A Chapter 13 bankruptcy does not qualify a borrower from obtaining an FHA-insured mortgage, provided that the lender documents that;
a. one year of the payout period under the bankruptcy has elapsed, and
b. the borrower’s payment performance has been satisfactory and all required payments have been made on time.
The borrower must receive written permission from the court to enter into a mortgage transaction.
So, a short sale might actually help your credit score. E-mail us if you know of any other stories like this.

Thinking about a loan modification?Our Ventura County loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at cjohnson@prucalhomes.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 cjohnson@prucalhomes.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 805-208-0823

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

Thanks for reading this,
Chris B Johnson, Realtor

Chris is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823. cjohnson@prucalhomes.com.

Certified HAFA Specialist, Certified Short Sale Specialist

Which way is the Real Estate Market Headed? Get a Market Snapshot of your neighborhood:
MLS Market Snapshot Has the Market Stabilized

View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor,
www.theshortsaleguide.com
http://www.pscagent.com/ChrisBJohnsonRealtor_VenturaCountyShortSaleSpecial
For Disclosure, and more information on Mortgage Assistance Relief Services, please see Code 16 of Federal Regulations (FTC), Part 322, or , http://www.ftc.gov/opa/2010/11/mars.shtm and always consult your CPA, Accountant, Financial Advisor and Attorney before you any financial or legal decisions.

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

Important Notice

Chris B Johnson, Prudential California 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 Chris's personal views and do not reflect the views of Prudential California Realty.

Will SB458, The Expanded Anti-Deficiency Law Have Unintended Consequences on Ventura County Short Sales?


Posted by Ron Ballard http://californiashortsalelawyer.com
The California residential real estate blogs and media have been enjoying an anti-deficiency “happy dance” the last several days. Is this warranted or will some homeowners suffer unintended consequences by the expansion of the anti-deficiency provisions of CCP 580e to junior liens? In the short term, certainly many lenders will.
Existing Law
In late 2010 the California Legislature adopted, and the Governor signed, a bill creating Section 580e of the Code of Civil Procedure. This new section provided essentially that when a holder of a first deed of trust encumbering a 1–4 unit dwelling approves a short sale that is paid according to its terms then the holder (beneficiary) cannot subsequently pursue any form of deficiency liability against the borrower except in limited exceptions (which will be discussed below).
New Law Get my Free, Step By Step Loan Modification Guide by clicking here.
Last month the Legislature approved SB 458 (SB stands for “Senate Bill”). The Governor signed it as an “urgency measure” on July 11. It was filed with the Secretary of State on July 15, 2011. Most laws are effective on January 1 in the year after they are adopted. An urgency measure requires a super-majority vote and goes into effect immediately. Hence, it is currently effective for all short sales that meet its criteria. (Registered readers can receive a PDF copy of the official version of the new law by opening the preceding article.)
The new law expands the applicable rule to holders of notes secured by deed of trust or mortgage solely encumbering a 1–4 unit dwelling regardless of the priority of the deed of trust or mortgage (the “lien”). Therefore, it applies to second, third and subsequent deeds of trust, including HELOC’s (home equity lines of credit). It does NOT apply if the borrower (technically the trustor or mortgagor) is a corporation, limited liability company, limited partnership or political subdivision of the state, nor to deeds of trust securing bonds, such as public utility bonds.
Prior to 2011 a primary anti-deficiency rule applied primarily to purchase money deeds of trusts encumbering 1–4 unit dwellings that were occupied by the borrower (at least at the origination of the loan). The broader new law applied to vacation homes, rental properties, cash-out refinances, and HELOC’s, among others. It also does not fully apply when one loan is secured by more than one parcel of property, what is often called a cross-collateralized loan.
A short sale works only when all lien holders approve; otherwise, the non-approving lien(s) remains against the property in the full amount of the balance of the applicable debt. For practical purposes, this does not happen. The short sale is only complete, and the new law only applies, when title “has been voluntarily transferred to a buyer by grant deed or by other document of conveyance that has been recorded . . .” There must have been written consent by the holder of the note for which the procees of sale have been tendered to the note beneficiaries in accordance with the parties’ agreement (the short payoff letter terms).
Benefits Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
The primary benefit of the expanded law is that, “No deficiency shall be owed or collected, and no deficiency judgment shall be requested or rendered for any deficiency upon a note secured solely by a deed of trust . . .”
In addition, the law provides that a holder of a note shall not require the borrower “to pay any additional compensation, aside from the proceeds of the sale, in exchange for the written consent of the sale.” Hence, new notes from the borrower and “seller contribution” payments cannot be required.
Finally, any purported waiver “shall be void and against public policy.” So even if a lender gets a borrower to sign a waiver of the new law, that waiver is void and cannot be enforced.
Further Exceptions 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 cjohnson@prucalhomes.com.
The new law does not apply if the borrower commits fraud with respect to the short sale. Essentially, if the borrower/seller lies on their short sale application, then their short sale is subject to the laws applicable without this statute. Therefore, a “strategic default” application apparently must disclose the intentional nature of the breach and cannot argue a false hardship.
Another exception applies if the borrower commits waste with respect to the property. “Waste” is essentially intentional or grossly negligent damage to the property. So the seller/borrower cannot rip out appliances, smash windows or holes in walls, ignore leaking roofs, pour cement down the toilets, or similar damages to the property. In those cases, the “holder of the deed of trust or mortgage” is not limited in their ability to seek damages against the borrower. (Ordinarily, the references are to a “holder” of the promissory note who is the “beneficiary” of the deed of trust. It will be interesting to see if any talented litigation attorney can exploit this phrasing.)
Unexpected Benefit or Cancellation? Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
As an urgency measure, SB 458 applies immediately. This means that outstanding short sale approvals are subject to the new law. If the lenders do not respond otherwise, an existing short sale approval which requires the seller to contribute cash in addition to sale proceeds or to execute a promissory note for all or part of the short sale cannot have those terms enforced. However, the non-deficiency provision is subject to a sale “in accordance with the written consent” of the lender. By not making the cash contribution or nor submitting the promissory note, the terms of the written consent have not been met and the new law does not appear to apply.
If the junior lien holder did not require a cash contribution or a promissory note, then no deficiency applies – which may not be what the junior lien holder intended. In those cases, the borrower enjoys an unexpected benefit. If the lien holder realizes this before closing, the lien holder might withdraw or cancel the approval and then demand higher payment since it’s potential for a deficiency judgment is gone.
Primary Unintended Consequence 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 cjohnson@prucalhomes.com.
All the commentators who thought they were enjoying a “happy dance” might find that they were actually doing a “rain dance” and the banks will rain on their parade. The published committee reports say that the banking industry supported SB 458. That implies that they don’t expect the new law to impact their returns. How could that be?
A short sale requires the approval of all lien holders. Otherwise, the non-approving lien holder will not release their mortgage against the property and the transaction fails because the buyer is understandably unwilling to close.
For example, let’s assume a property with a $400,000 first deed of trust from a cash out re-fi and a $150,000 HELOC secured by a second deed of trust for a property that would sell in a non-distress sale for $400,000 as if it was free and clear. Under pre-2011 law, the seller could be subject to deficiency liability from both loans.
Let’s assume a very small distress sale discount of 10%. The market would be willing to pay $360,000 (90% of $400,000). Let’s assume the first lien holder approves closing costs and commissions totaling 7% or $25,200 and a $4,500 payment to the second (who would get nothing in a foreclosure) based on the lower of $5,000 or 3% of the loan. This leaves the first with $330,300 net proceeds on a $400,000 note. The first would be getting 82.575% of their note balance, which is probably enough for them to release the seller from deficiency liability in advance.
However, the holder of the HELOC refuses to approve the short sale without some combination of cash and note for $15,000 (10%) in order to release it’s lien or of $22,500 (15%) to also release liability. Now the first counter-offers by saying it will allow a $5,000 payment and not object to a $10,000 note. The seller is thinking they won’t approve a mere release of lien and can’t pay the extra $7,500. The buyer decides he is willing to contribute $7,500 toward the settlement since the gross outlay would be $367,500 for a property that should carry a non-distressed price of $400,000 and a deal is assembled in which the seller has all deficiency waived due to creative structuring, while agreeing to only a $10,000 future liability.
Now, fast forward to the adoption of SB 458 and the newly amended version of CCP 580e. The first trust deed holder approves a $360,000 sales price, 7% combined closing costs and commission, with a $4,500 payment to the second. The second demands $22,500 because that’s it’s 15% threshold to release a borrower from liability.
This increase can now only be accomplished by the first trust deed holder accepting net proceeds because the new law prohibits the seller giving the note to the second and the buyer from making a contribution to the second. However, the first is unwilling to accept only $312,300, which is only 78.075% of its note balance – an level which fails to meet the note holders standards for releasing a borrower from liability.
At this point, the first trust deed holder estimates that they could get close to $312,300, which represents about a 22% discount off the estimated market price of $400,000 – an amount which is in line with the foreclosure auction discount rate – AND still have the seller on the hook for the deficiency.
The new result of this hypothetical is that the short sale fails, the property goes to foreclosure, and the seller is subject to the risks of deficiency liability for BOTH the shortfall of the first deed of trust loan and the full amount of the HELOC.
The new law has put the hypothetical seller in a far worse position and caused a foreclosure that would have been avoided under present law.
CONCLUSION
I think the adoption of SB 458 as an urgency measure which became effective immediately, without time for the market planning to absorb its impact will have two unintended consequences:
1. Pending short sale approvals in which a junior lien holder had agreed to the short sale subject to an additional cash payment or a promissory note may very likely be withdrawn and new terms must be negotiated. The new dynamics may result in those short sales converting to foreclosures.
2. New and ongoing short sale negotiations in which a junior lien holder holds a higher value note, such as more than $50,000, will be less likely to approve short sales because they will be unable to meet their liability waiver thresholds via the low level of payments approved by the first trust deed holder. This will force the first to foreclose, resulting in the borrower’s potential deficiency liability for both the first and the second.
Maybe the banking industry supported SB 458 because it saw it as a way to reopen access to deficiency liability on the first deeds of trust in these scenarios where that door had been closed by the earlier version of CCP 580e . . . ??
Thinking about a loan modification?Our Ventura County loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at cjohnson@prucalhomes.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 cjohnson@prucalhomes.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 805-208-0823

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

Thanks for reading this,
Chris B Johnson, Realtor

Chris is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823. cjohnson@prucalhomes.com.

Certified HAFA Specialist, Certified Short Sale Specialist

Which way is the Real Estate Market Headed? Get a Market Snapshot of your neighborhood:
MLS Market Snapshot Has the Market Stabilized

View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor,
www.theshortsaleguide.com
Certified Home Affordable Foreclosure Specialist .

For Disclosure, and more information on Mortgage Assistance Relief Services, please see Code 16 of Federal Regulations (FTC), Part 322, or , http://www.ftc.gov/opa/2010/11/mars.shtm and always consult your CPA, Accountant, Financial Advisor and Attorney before you any financial or legal decisions.
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Chris B Johnson, Prudential California 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 Chris's personal views and do not reflect the views of Prudential California Realty.
http://www.ChrisBJohnsonRealtor.com
http://stopforeclosureventuracounty.blogspot.com
http://venturacountyshortsalerealtor.com
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https://profiles.google.com/ChrisBJohnsonRealtor
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http://www.facebook.com/pages/Stop-Foreclosure-Institute-of-Ventura-County/131329820250901
http://www.pscagent.com/ChrisBJohnsonRealtor_VenturaCountyShortSaleSpecial

Tuesday, July 19, 2011

Fixing Credit After A Ventura County Short Sale Step 10: Maintaining Good Credit

Ventura County CA – If you have a foreclosure or short sale on your credit report, then it will lower your credit score quickly. In the near term, the decrease will be much more than it will be a few months down the road when it starts to inch its way back up.

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

The credit reporting bureaus weigh the most recent activity more heavily than the distant past.

Taking action now to build up the most recent activity is a great way to help your score rebound. So for now, here are the things you should be doing from this day forward to keep your score improving:

First, keep your report clean and clear of NEW negative items. This means that you need to pay on time, every time on open credit. You must not have any new collection accounts or charge offs.

Don’t try to open ANY new credit – this means new car loans, or a Target charge card, or any new opportunity to open any other new credit. Don’t do it.

After a foreclosure or a short sale, you want anything that appears on your credit report to be spotless – that the short sale or foreclosure was a blip on the radar, the past, out of the ordinary for you.

Re-build your credit report with favorable credit. Ask your bank if you can use a secured Visa or MasterCard through them.

A secured Visa or MasterCard is much like a debit card – you preload it with the amount you want available. Unlike a debit card, a secured credit card will get reported to the credit bureaus, and this will help to rebuild your score.

Obviously, the best way to deal with bad credit scores is to avoid it in the first place if possible. If you have a history that needs a bit of polishing, hang in there.

Follow the steps that I’ve written about, stay on track, you will be able to look back and feel a sense of pride about your accomplishments.

Thinking about a loan modification?Our Ventura County loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at cjohnson@prucalhomes.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 cjohnson@prucalhomes.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 805-208-0823

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

Thanks for reading this,
Chris B Johnson, Realtor

Chris is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823. cjohnson@prucalhomes.com.

Certified HAFA Specialist, Certified Short Sale Specialist

Which way is the Real Estate Market Headed? Get a Market Snapshot of your neighborhood:
MLS Market Snapshot Has the Market Stabilized

View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor,
www.theshortsaleguide.com
Certified Home Affordable Foreclosure Specialist .

For Disclosure, and more information on Mortgage Assistance Relief Services, please see 16 Code of Federal Regulations, Part 322, or .
http://www.ftc.gov/opa/2010/11/mars.shtm
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Chris B Johnson, Prudential California 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 Johnson's personal views and do not reflect the views of Prudential California Realty.

This information on Fixing Credit After A Ventura County Short Sale Step 10: Maintaining Good Credit is provided as a courtesy to our viewers to help them make informed decisions.

New law gives added protection to Ventura County Short Sales


A new California law will further protect homeowners pursuing short sales by barring first and secondary lien holders from going after sellers for money owed after the short sales close.

Gov. Jerry Brown signed Senate Bill 458, authored by Senate Majority Leader Ellen Corbett (D-San Leandro,) into law on Friday.

The new law builds on the protections offered by a previous law, SB 931, which required the first lien holder in a short sale to accept an agreed-upon payment as the full payment for the outstanding loan balance. The previous law did not address junior lien holders.

The new law, which became effective immediately, now prohibits secondary lien holders from pursuing deficiencies after a short sale closes. Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
"As the economic recession continues to impact Californians, SB 458 will allow homeowners forced to sell at a loss to have closure at the end of the process," said Corbett, in a statement to the Union-Tribune. "By extending anti-deficiency protection to all loans on a home when a short sale occurs, a homeowner can use a short sale as an alternative to foreclosure or bankruptcy."

The California Association of Realtors call the bill's signing a "victory for California homeowners."
"SB 458 brings closure and certainty to the short sale process and ensures that once a lender has agreed to accept a short sale payment on a property, all lien holders – those in first position and in junior positions – will consider the outstanding balance as paid in full and the homeowner will not be held responsible for any additional payments on the property," said Beth L. Peerce, president of the Realtors group, in a statement.

Thinking about a loan modification?Our Ventura County loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at cjohnson@prucalhomes.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 cjohnson@prucalhomes.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 805-208-0823

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

Thanks for reading this,
Chris B Johnson, Realtor

Chris is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823. cjohnson@prucalhomes.com.

Certified HAFA Specialist, Certified Short Sale Specialist

Which way is the Real Estate Market Headed? Get a Market Snapshot of your neighborhood:
MLS Market Snapshot Has the Market Stabilized

View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor,
www.theshortsaleguide.com
Certified Home Affordable Foreclosure Specialist .

For Disclosure, and more information on Mortgage Assistance Relief Services, please see Code 16 of Federal Regulations (FTC), Part 322, or , http://www.ftc.gov/opa/2010/11/mars.shtm and always consult your CPA, Accountant, Financial Advisor and Attorney before you any financial or legal decisions.

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

Important Notice

Chris B Johnson, Prudential California 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 Chris's personal views and do not reflect the views of Prudential California Realty.