Moorpark, Ventura County, CA; Mortgage Refinancing For Underwater Homeowners–Can Mortgages With Negative Equity Be Refinanced?…… ALSO, HUD Secretary Demands Better Efforts at Loan Modifications

Moorpark, Ventura County, CA. Mortgage refinancing opportunities may be available for certain homeowners who have seen their property’s value decrease and are now in a situation where they have negative equity in their home. These underwater homeowners have been in situations where they are finding it difficult to meet their monthly mortgage payment as a result of the type of mortgage attached to their underwater home.

To read the entire article, please visit : http://www.rwbpress.com/2010/10/22/mortgage-refinancing-for-underwater-h…

HUD Secretary Donovan Also Demanded Better Efforts at Loan Modifications

To the extent that there’s anything to be encouraged about by the Administration’s response to the foreclosure mess, it’s that Shaun Donovan publicly stated that loan servicers were violating FHA standards by failing to offer affordable modifications to borrowers before foreclosing on them. That would be a sea change from the current position, which through HAMP basically puts the modifications in the hands of the servicers. Some borrowers who have been through HAMP and were denied have filed suit against many of these servicers, and the banks’ explanation for this is very telling.

To read the entire article, please visit : http://news.firedoglake.com/2010/10/21/hud-secretary-donovan-also-demand…

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 lender. Click here to request a copy.

Nation’s Biggest Banks Each Hold over $20B in Foreclosures: Report

New data released this week shows that the nation’s largest banks are holding monstrous volumes of soured home loans. Not only has the housing crisis left major lenders knee-deep in an ocean of non-performers, but added exposure to early delinquencies means they could sink even deeper.

To read the entire article, please visit ; http://www.dsnews.com/articles/nations-biggest-banks-each-hold-more-than-20b-in-foreclosures-report-2010-10-22

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. If you prefer, then 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.


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

Thanks for reading this,

Chris B Johnson.
Chris is a Real Estate Agent at Prudential California Realty.
Phone: 805-208-0823. cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale Specialist
View My homes for sale at www.ChrisBJohnsonRealtor.com.

Chris B Johnson specializes in providing 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, 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. 93021, also providing 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 Johnson’s personal views and do not reflect the views of Prudential California Realty. This information on why did this short sale fail is provided as a courtesy to our viewers to help them make informed decisions.

Ventura County Short Sales: Why do some short sales succeed when others don’t, Part 2

Ventura County CA – We recently talked to another agent about her short sale listing. (Some of the details have been changed to hide their identity) She had been working on this short sale for 6-8 months with no success. The original buyer offered 265k for the house.

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

The short sale lenders rejected the offer. The house ended up selling eight months later for 220k. Why did the short sale lenders reject the 265k offer, only to later on accept an offer for 45k less?
Because the person negotiating with the short sale lenders didn’t know what they were doing. Here’s what happened.

The first mortgage was owed $289,000. The 2nd was Bank of America, owed 60k. She submitted the 265k short sale offer to both mortgages holders. The first mortgage gives her an approval in a month. Bank of America never gave her an answer.

Here is the problem. Bank of America has no incentive to put time into this short sale file. Why? Because they are only getting $1,000. In a short sale, most 2nds will get a minimum of $3,000, and often 10% of whatever they are owed.

The first mortgage was greedy and wouldn’t offer enough money to Bank of America. As a result, they lost $40,000. Was that a smart business decision?

No. That’s a big loss for the short sale lender. To be honest, I would be embarrassed if I was that banker.
Here is what this agent should have done. She should have convinced the first mortgage to give Bank of America $3,000 to $7,000. Bank of America would have accepted the offer with more money.
Instead, the agent had to negotiate the short sale all over again. Not only that, but her sellers risk a bigger deficiency note. This first mortgage was one of the few mortgage companies not willing to release the deficiency.

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. If you prefer, then 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 lender. Click here to request a copy.
Thanks for reading this,

Chris B Johnson.
Chris is a Real Estate Agent at Prudential Califonia Realty.
Phone: 805-208-0823. cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale Specialist
View My homes for sale at http://www.chrisbjohnsonrealtor.com/.

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

Chris Johnson 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, also providing 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, 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. 93021

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 Johnson’s personal views and do not reflect the views of Prudential California Realty. This information on why did this short sale fail is provided as a courtesy to our viewers to help them make informed decisions.

Why do some short sales succeed when others don't

Ventura County CA – Short Sales can be frustrating. Ask anyone who has negotiated a short sale with a lender and they will tell you the process is tough. Here is a story that illustrates this point.

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

You are negotiating a short sale with a lender. You call in and talk to a someone in a call center overseas. They are very helpful and give you the fax number for the short sale paperwork.

You fax the short sale package. A few day later you call in to follow up. (Most lenders systems take a few days to process the paperwork.)

They tell you that they have no record of having received your paperwork. “That’s pathetic”, you tell them. “I sent it to this fax number. Can you confirm that is the right one?”

“No, that is not the correct fax number”, they tell you. “Here is the correct fax number.” This is why simple follow up is so important if you want a chance at a successful short sale.

Small mistakes like this happen all the time. Let’s say an agent is not familiar with the process. Do you think they will become frustrated after experiencing all the mistakes compounded together?

I think so. To have the best chance at success your agent needs to follow up on the short sale twice a week. Most agents don’t do this. As a result, they aren’t successful at short sales.

That’s why you hear them say the following. “I hate short sales. They are so frustrating. They take forever. Most of mine have dragged out for 9-12 months. The short sale lenders are so tough to work with.”
Why can’t these agents follow up on their short sale file twice a week? Because they don’t specialize in short sales. Your short sale is just one of eight other things they are working on.

A buyer comes to town for a week to buy a home. The agent is busy driving them all over town that week. They don’t have time to follow up on your file.
They are burned out next week and take a few days off. They get back to work on Wednesday. Wednesday thru Friday are consumed with catching up on everything else.

They have to call back three other sellers, show homes to another buyer, and follow up on their closings. They don’t follow up on your file until the next week.

What chance does your short sale have? Everyone knows focus is the key to success. I have chosen to focus on short sales. Because of this, my short sale sellers know that I will handle their file properly.

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. If you prefer, then 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 lender. Click here to request a copy.

Thanks for reading this,
Chris B Johnson.

Chris is a Real Estate Agent at Prudential Califonia Realty.
Phone: 805-208-0823. cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale Specialist
View My homes for sale at http://www.chrisbjohnsonrealtor.com/.

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

Chris B Johnson 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,also providing 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, 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. 93021

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 Johnson’s personal views and do not reflect the views of Prudential Califonia Realty. This information on why do some short sales succeed when others don’t is provided as a courtesy to our viewers to help them make informed decisions.

How To Negotiate A Wells Fargo Short Sale

Moorpark, Ventura County CA – Wells Fargo is one of the largest lenders in the US. They are the second biggest short sale lender we work with. The Wells Fargo Loss Mitigation Department is much better to work with than lender’s loss mitigation departments.

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

Wells Fargo has two loss mitigation departments. One is located in Fort Mill, South Carolina. The other is located in Milwaukee, Wisconsin.

Here is what we do to negotiate a short sale with Wells Fargo.
To start a short sale with Wells Fargo, we first call 1-877-216-8448. We ask the representative what the short sale fax number is. That is where we fax the entire short sale package.

In my experience, these phone and fax numbers are often changed with little notice. That is why I call to check. The current fax number to send paperwork to is 1-866-969-0103. That has been the correct number for a long time.

In addition I will need authorization from to speak to your lender on your behalf. You fill out and sign a form giving me that authorization. I will fax that to Wells Fargo’s Authorization Fax. That number is 1-866-917-1877.

Once the short sale is approved by the owner of the loan, then Wells Fargo will want all parties to sign Wells Fargo’s Specific Addendums. They are the following.

Arms Length Addendum. This simply states that there is no funny business going on and this is a normal “Arms Length” sale. In other words, you aren’t selling the home to your best friend for a low price, or anything similar to that.

Closing Date Extension Addendum. They want the buyer to sign this and agree to close within 30 days of the short sale approval.

Listing Addendum. This is an addendum they want the seller and the listing agent to sign. It gives Wells Fargo a little more protection on the short sale.

Contract Addendum. This is another addendum they want the buyer and the seller to sign. It simply lays out how a Wells Fargo Short Sale works for the buyer and the buyer agrees to those terms by signing the addendum.

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. If you prefer, then 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 lender. Click here to request a copy.

Thanks for reading this,
Chris B Johnson.
Chris is a Real Estate Agent at Prudential Califonia Realty.
Phone: 805-208-0823. cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale Specialist
View My homes for sale at http://www.chrisbjohnsonrealtor.com/.


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

Chris B Johnson 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, , also providing 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, 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. 93021

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 Johnson’s personal views and do not reflect the views of Prudential California Realty. This information on How To Negotiate A Wells Fargo Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Moorpark, Ventura County, CA; What to do when your lender won’t reduce your principle on a loan modification.

But first, this...

Fraud Task Force Pursues Criminal Investigation of Mortgage Servicers

Remember all the Robo-signers? Allegations that some of the nation's largest mortgage servicers cut corners in processing foreclosures and filed unsubstantiated paperwork could turn criminal. With documentation errors reported by at least five mortgage servicers, President Obama's Financial Fraud Enforcement Task Force, led by the U.S. Department of Justice, is looking into whether servicers broke federal laws and whether they misled federal housing agencies in the process. Mail and wire fraud may also be an issue.

Moorpark, Ventura County CA – Some homeowners have watched the value of their home be cut by 30-50%. They paid 700k for a house that is now worth 400k. They want a principle reduction, but the lender won’t agree to it.

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

So they keep on insisting for one. Lenders will drop your interest rate to 2% for five years. But, they are very reluctant to grant principle reductions. Here is why.

They are forced to take huge write off on their books when they give you a principle reduction. No, this is not a “tax” write off.

If they give you a 300k principle reduction, they have to take that directly off that year’s earnings. That hurts earnings, which hurts the stock price, which hurts the likelihood of the people at the top getting bonuses.

This makes principle reductions so rare. Instead, they like to reduce your payment down to the equivalent of a 400k principle amount. How?

By dropping the interest rate to 2%. The lower interest reduces your payment down as much as a principle reductions would have done.

The banks hope that you can limp along for five years until the economy recovers. Hopefully by then housing prices will recover, or you will be able to afford the higher payment after the interest rate reset.
But, many experts do not think the housing market will recover in 5 years, much less 10 years. This is why I recommend a short sale and renting to anyone who is upside down by 30%.

Now, you may be saying, “Of course you do recommend that. You get more sales that way.” Sure, I like more sales.

But, if that was true, then why would I give away free loan modifications kits to homeowners in foreclosure? I would hope that they would be forced to short sale with me.

(Click here to request a copy of our Ventura County Loan Modification Kit that has the instructions you will need to get a loan modification approved with your bank.)

I believe that most loan modification are a temporary band-aid that doesn’t solve the underlying problem. Most people that short sale are already suffering and their credit has been hurt by a pending foreclosure.

What if they accept the loan mod offer and can’t afford the payment reset in 5 years? They may have to stop paying, hurt their credit again, and apply for another loan modification.

Why not wipe out the upside down debt while your credit is already damaged? Agree? Disagree? Please put your comments in the comments section below.

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. If you prefer, then 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 lender. Click here to request a copy.

Thanks for reading this,
Chris B Johnson.

Chris is a Real Estate Agent at Prudential Califonia Realty.
Phone: 805-208-0823. cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale Specialist
View My homes for sale at http://www.chrisbjohnsonrealtor.com/.

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

Chris B Johnson 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 Johnson’s personal views and do not reflect the views of Prudential California Realty. This information on What to do when your lender won’t reduce your principle on a loan modification is provided as a courtesy to our viewers to help them make informed decisions.

Moorpark, Ventura County, CA. Bank of America and GMAC to Resume Foreclosures

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Ventura County, CA; Bank of America Corp. announced Tuesday that it has reopened more than 100,000 foreclosure actions in 23 states, saying its investigation found no significant problems. Likewise, GMAC Mortgage said it would reopen an undisclosed number of foreclosure files.

“This is an important first step in debunking speculation that the mortgage market is severely flawed,” said Bank of America spokesman James Mahoney.

Meanwhile, state attorneys in general continue to push for a halt to foreclosure sales, saying they have little confidence that procedures have been fixed.

Source: The Wall Street Journal, Jessica Silver-Greenberg, Robbie Whelan, and Dan Fitzpatrick (10/19/2010)

Discover how other home owners are avoiding foreclosure 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 lender. Click here to request a copy.

The Numbers are Getting Worse, Foreclosure & Short Sale Properties SOLD Which Are UNDER WATER!

The chart (see link below) is startling to say the least. Never in my 30+ years in the business, and one could argue since the Great Depression, have we seen THIS many homes being sold because the owners OWED MORE than the property was worth. Look at the timeline since 2000 and then for the past three years! When the market was roaring folks where refinancing and pulling out more cash, and repeating the cycle every time rates went down or they had more equity. Even those who bought with zero down recieved offers for credit lines making their total Loan to Value in excess of the homes worth. These folks defaulted in massive numbers back in 2007. The flood of REO’s came about from the huge amount of sub-prime lenders and buyers. Defaults and foreclosures soared but Consumer Confidence hung on during the drop of sales and median price through 2007 but it was consumer’s hoping for the best but also being OUT OF THE LOOP. When the REO’s hit consumer confidence dropped like a stone!

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

BofA–Short Sale Page has tons of tips! Action items! Check it out!
I ventured out onto the internet and was reading an article on how NAR (National Assoc. of Realtors) is trying to get the big peer banks(BofA, Wells Fargo, CitiMortgage, Chase) to start getting some conformity and consistency of policy regarding the sticky business of Short-Sales. I was surprised at the depth of the Short-Sale portion of BofA’s web site. Check it out at the link below!

http://realestateagent.bankofamerica.com/content/documents/10Tips.pdf

From: http://www.linkedin.com/in/realestateradiotalker

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 lender. Click here to request a copy.

Thanks for reading this,
Chris B Johnson.

Chris is a Real Estate Agent at Prudential California Realty.
Phone: 805-208-0823. cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale Specialist
View My homes for sale at www.ChrisBJohnsonRealtor.com.

Chris B Johnson 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, also providing 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, 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. 93021

Which way is the Real Estate Market Headed? Get a Market Snapshot of your neighborhood:
MLS Market Snapshot Has the Market Stabilized
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 Johnson’s personal views and do not reflect the views of Prudential California Realty. This information on Common Short Sale Mistakes and How To Avoid Them is provided as a courtesy to our viewers to help them make informed decisions.

Ventura County Short Sales: Are You A Casualty Of The Terrible Loan Modification Process?

Moorpark, Ventura County CA – I recently saw an amusing video about loan modifications. In it the guy called Wells Fargo “Hells Fargo.” Apparently it is tough to get a loan modification. They lose your paperwork.

You have to talk to people in other countries where English IS NOT their first language. The people at the lenders treat you like dirt.

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

In addition, they pretend to love their customers. While you are waiting on hold for two hours to talk to someone, you get to hear the recording, “We at ABC Lending love our customers. We want to provide the best customer service in order to earn your business.”

If you have experienced this, then you know how frustrating it is. But, why go thru the whole experience? Is it really worth the stress?

I don’t think so. Most loan modification do not reduce your payment. Some do, but the reduction usually doesn’t reduce the payment near the fair market rent. As a result, many homeowners limp along with a loan modification they can barely afford.

Little do they realize that they could go rent a similar home for less money. Here is one example of this. A homeowner gets a loan modification from her lender.

She borrows money from family for the upfront payment. Then, she suffers for a year while she pays a payment that is more than she can afford. She has to work extra hours and some night shifts.
Money is so tight she can barely afford to pay for food. Little does she know that she could rent a similar house for 30% less per month.

I see this story happen more often than not. People don’t realize how competitive the rental market is today. They also don’t know how much better off they will be mentally. If you are experiencing a loan modification horror story, then stop.

Take a look around. You do have options. There may be another home you and your family can rent. Then you can short sale, wipe out the upside down debt, and move on with your life.

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. If you prefer, then 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 lender. Click here to request a copy.

Thanks for reading this,

Chris B Johnson Realtor

Chris is a Real Estate Agent at Prudential Califonia Realty.
Phone: 805-208-0823. cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale Specialist
View My homes for sale at http://www.chrisbjohnsonrealtor.com/.

Chris B Johnson 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, also providing 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, 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. 93021

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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 Johnson’s personal views and do not reflect the views of Prudential California Realty. This information on Ventura County Short Sales: How Do I Get Back On My Feet After A Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.