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Tuesday, December 28, 2010

Moorpark Short Sales: What does letting a house go into foreclosure do to the neighborhood?


Ventura County CA – The Stop Foreclosure Institute recently received a question from Werner. “I am behind on my payments and thinking of just letting my home go into foreclosure. What does that do to the neighborhood?” he asked.

Here is our answer to his question. It does hurt the neighborhood. But, it also hurts you.

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

Most banks do not do a good job and processing and handling foreclosures. They take 12-18 months to foreclosure on a house and then sell it.

In the meantime they do little to maintain the home. I estimate that half of all the properties I have seen in foreclosure have never even been checked on by the lender.

It has gotten so bad that one homeowner even started up a website to report on these banks. The website is called Lender Offender.

Check it out here: www.LenderOffender.com.

Here is an example of one of the homes on the site.


The home was probably posted by one of the neighbors. Here is what they said about it on the site:

"Sheriff sold 4/25/09 to IndyMac Bank. Neighbors have now given up mowing the property. People have either been squating or visiting the house through open doors.

IndyMac refuses to talk to neighbors and refers us to the County who says IndyMac owns property outright. County will mow and fine at least once, but won't keep mowing.

Property not up for sale. Thanks for being such a horrible and unresponsive neighbor IndyMac. Shame on you. "

In my opinion these banks are not being responsible with these properties. The biggest problem is that Uncle Sam usually takes the fall for any loss.

Uncle Sam does this by guaranteeing them against loss on many mortgages. Or in other cases, Uncle Sam has already bought the defaulted loan from the bank.

The homes eventually sell for a discount after the foreclosure. No home buyer is going to pay market value for a home that needs repairs!

This gives the banks little incentive to check on these properties. Fortunately you can help.

Stay in your home until it sells. Keep it looking good and everything in good order.

Then, put it up for sale as a short sale. That will help protect the property values in your neighborhood.

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 B 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:
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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 Realtor, Moorpark Short Sale Realtors, Short Sale Realtor. Ventura County CA Short Sales. Ventura County Realtor, Certified HAFA Specialist, Moorpark Short Sale Realtor, Thousand Oaks Short Sale Realtor, Westlake Village Short Sale Realtor, Newbury Park Short Sale Realtor, Camarillo Short Sale Realtor, Simi Valley Short Sale Realtor, 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 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 Realtor, Short Sale Realtor. Ventura County CA Short Sales. Ventura County Realtor.
Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Chris B Johnson's personal views and do not reflect the views of Prudential California Realty.
This information on Ventura County Short Sales:

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Chris B Johnson's personal views and do not reflect the views of Prudential California Realty.

This information on Ventura County Short Sales: What does letting a house go into foreclosure do to the neighborhood? is provided as a courtesy to our viewers to help them make informed decisions.