Ventura County CA – We recently closed another short sale. This short sale lender was so much more fund to work with than most lenders. The loan was owned by Household Finance, which is a division of the international lender HSBC.
We were assigned a short sale negotiator about 30 days after we submitted the short sale application. The short sale negotiator responded to us quickly.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
If we sent her an email, then we received a reply within a day or two. Contrast that with waiting for a week or more for a reply to an email with other lenders.
The short sale negotiators at the big national lenders often take a week or more to reply to an email or voicemail. Now, I am sure you are wondering why this is happening?
Why can't the big national banks do a better job on short sale? Here is what I think. I have noticed one big difference between the loans that the big US based banks have and the loans that HSBC has.
HSBC owns their loans. If they don't handle short sale negotiations properly and lose money as a result, then that affects their bottom line. HSBC stands to make or lose money as a result of their actions.
Contrast this with the large us based banks. One large national US bank does not own 80% of the loans they handle. Who cares if things are being handled properly?
It's no big deal when a short sale is denied and sells for 40k less a foreclosure. They aren't losing the money. Someone else is. The sad thing is that usually that person is Uncle Sam.
This is because Uncle Sam owns or insures about 65-70% of all the mortgages in America. Fannie Mae and Freddie Mac own about 55% of all US mortgages.
The rest are insured against loss thru FHA, USDA, and VA. If an FHA loan goes bad, then FHA takes the loss. Many experts are saying that FHA will need a bailout soon.
They estimate that FHA could lose up to 50 billion in coming years. This means people buying a home today will pay more for an FHA loan.
Uncle Sam may have to bail them out. The big national banks could do a better job ad short sales and other aspects of loss mitigations.
That would substantially reduce the losses on bad loans and help Uncle Sam avoid another bailout. Thinking about a short sale?
I can help you short sale your property and get back on your feet. 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, Certified Distressed Property Expert
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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 . Always check with a good real estate 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.
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. Also seehttp://venturacountyshortsalerealtor.com/?p=1066.
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