Hi, this is Mark Peek with Keller Williams Real Estate, your Roseville and Sacramento short sale specialists. I want to talk to you today about a short sale that just got closed. It’s a VA short sale and it’s kind of interesting. The borrower made their payments to a company called Mortgage Investors Corporation and they are actually sub servicing for GMAC. GMAC is the actual servicer of it and VA is backing the loan. So we got this one approved and there were no issues with it. This was probably one of the easier short sales if you want to call any of them easy. The VA actually put a reasonable value on the property, one that was reasonable market value and we had buyers that were willing to pay it. This one actually closed out pretty quickly. If you have a VA short sale that you have some questions on or if it’s another GMAC file or some other servicer out there, feel free to give us a call and we can help you with that. If you have any specific questions or if you are considering a short sale and not really sure if it’s the best option for you, I highly recommend our short or stay calculator on our website. If you plug in your information, it will give you a detailed report on whether or not a short sale might be the right decision for you. It will tell you how long it’s going to take you to break even and how long should you wait. It will also give you some appreciation low, mid and high appreciation differences. We can’t really project accurately obviously the future and how much pricing might go up or how fast it might go up or if the rates might change. So, try that calculator, it’s a great tool to give you a better idea of whether a short sale might be right for you. Again, I’m Mark Peek with Keller Williams Real Estate, your Roseville and Sacramento short sale specialist and I’m here to help answer any questions you may have. Thanks and have a great day.

Hi this is Mark Peek at Keller Williams Real Estate, your short sale specialist for the Roseville and Sacramento area. Today’s video is about a SunTrust FHA short sale that we’ve been working through. We came up against a situation where there were some guidelines in place by HUD that didn’t quite make sense.

The short sale was actually declined because of two guidelines in place by HUD; if those guidelines weren’t met, then SunTrust was afraid that HUD wouldn’t pay out the claim for the short sale deficiency. In this case, the borrower has two FHA loans, but the reality was that their employer transferred them to a new location across the country, so they purchased a new home and rented the other home out for about two years. They got into a situation where they couldn’t afford both payments. There is a guideline that says you can’t rent the home out for more than 18 months to be considered for a short sale. The other guideline is that you can’t have two FHA loans and do a short sale. This doesn’t really make sense because at the end of the day, HUD is going to pay out on this claim if the home goes to foreclosure. By appealing this directly to HUD, I was able to get a variance on this file because we have an involuntary relocation; it wasn’t the borrowers intent to do this. HUD granted a variance and the short sale was then approved by SunTrust.

I just wanted to let you know that guidelines are in place for a reason, but they’re not set in stone. There are certain circumstances that can change whether or not these guidelines can be bent at all. If you have any questions about an FHA short sale, or any other type of short sale, feel free to give me a call, send me an email or click Start Here at the top of the page and enter in your information. I look forward to hearing from you and working with you on your short sale.

Hello everyone my name is Mark Peek with Keller Williams Realty in Roseville and Sacramento thank you for your time today. I use my blog to keep Roseville and Sacramento homeowners informed on their options for avoiding foreclosure and how to get out from under their mortgage debt. If you are struggling to pay your mortgage and ready to sell your home please browse my website or call my office to chat with an experienced agent today.

For my blog topic I wanted to talk about a recent short sale I closed through Specialized Loan Servicing and some unique aspects that made this very memorable. This particular Roseville and Sacramento home needed a fair amount of repairs in order to be lived in and luckily we were able to sell it as is. However, the market value of the home set by Specialized Loan Servicing was much higher than the actual value given the needed repairs which affected our negotiations. This property also had a federal tax lien on the property which had to be released before we could complete the short sale. In addition, this borrower was able to qualify for some relocation assistance which helped them find a new property to rent. This short sale took some extra work but this demonstrated the importance of showing the lender your true property value. If you are considering a short sale and your home needs significant repairs contact me to discuss the impact on your short sale.

For more information or to find out if a short sale is right for you visit my website and try my Short Or Stay Calculator today. This free tool will give you a real time assessment of what your home is worth currently and also under different recovery scenarios. Thank you for your time and I look forward to helping you with your Roseville and Sacramento real estate problems in the future.

Hi, I’m Mark Peek with Keller Williams, your Roseville and Sacramento short sale specialist. Today I want to talk about Bank of America being serviced released. Have you received a letter recently from Bank of America about your loan being serviced released? This means it is being transferred to another servicer. So if you are in the middle of a short sale, this could impact you quite a bit. If your loan is actually transferred to a new servicer, you may have to start your file all over again from scratch with the new servicer. A lot of times when servicing is transferred over, the documents will still go with the file but unfortunately the servicer wants to check on the previous servicer’s message over their file and make sure everything in there is up to par.

So if you have any questions about service released to either Greentree or a lot of them are being transferred over to Seterus, so if you have any questions about that and how it might affect you, feel free to give me a call. Also, if you are considering a short sale and not sure if it’s the right decision for you, I highly recommend the short sale decision calculator on our website. It will give you an idea of how long it’s going to take for you to break even. It will also help you figure out whether or not a short sale might be right for you. Again, I’m Mark Peek with Keller Williams Realty, your Roseville and Sacramento short sale specialist and I’m here to help. Thanks and we look forward to speaking with you soon.

Hi, this is Mark Peek, your short sale specialist in Roseville and Sacramento; thanks for joining me today on my short sale blog. I wanted to tell you about a short sale approval we just received from Midland Mortgage. The borrower had relocated across the country, tried really hard to rent the property but was still unable to make things work. Their income was cut dramatically and they had other things going on in their lives that was making this a difficult decision for them. The bottom line though was that they couldn’t continue to make payments on this property because they were taking a loss every month.

In this case, we got the short sale approved, but when we first looked at doing the short sale with Midland Mortgage, we noticed their reviews aren’t very good. In fact, our initial contact with them wasn’t the best experience, but we reached out to some of the higher up people there to get some of our short sale issues resolved. The people in the higher up positions do care and they did make sure that this short sale got the proper attention that it needed.

If you’re having difficulties or are considering a short sale with Midland Mortgage, please give me a call because I would love to help. Also, if you are interested in learning what your property value is, or if you want to know whether it’s financially better for you to do a short sale or stay in your home, check out the Short Sale Calculator on my website. If you enter in some of your basic mortgage information, it will email you a report outlining how much time and money it will take for your home to become an asset again. From this, you can determine whether a short sale is going to be the better choice for your family. Again, I’m Mark Peek, short sale specialist and I’m here to help you.

Hello everyone Mark Peek here with Keller Williams Realty in Roseville and Sacramento thank you for your time today. I work with distressed property owners in Roseville and Sacramento every day and use this blog to keep residents informed on their options for avoiding foreclosure. If you have seen the value of your home greatly reduced and are considering a short sale browse my website or call my office to chat with an expert about all of your options.

For my blog today I wanted to talk with Roseville and Sacramento homeowners about HAFA relocation assistance and who may qualify. There have recently been some big changes made to the HAFA program that I wanted to share with Roseville and Sacramento homeowners. One of the biggest benefits of the HAFA program is the three thousand dollars in relocation assistance for completing a HAFA short sale. Recently HAFA announced that this relocation assistance is not guaranteed if the homeowner vacates the home before the short sale is completed. If that relocation assistance is needed for getting caught up on other bills or finding a place to rent this will be very important. There are several programs that offer short sale incentives but it is important for Roseville and Sacramento homeowners to remember that not everyone will qualify. If you are considering a short sale and curious what programs you may qualify for please stop by my website or contact me today.

On my website you can fill out a contact form and an experienced short sale agent will reach out to you in the near future. While browsing my website you can also try my Short Or Stay Calculator to discover if a short sale is right for you. Thank you for your time today and I hope to help you soon with any Roseville and Sacramento real estate problems.

Hi, this is Mark Peek with Keller Williams Real Estate, your Roseville and Sacramento short sale specialist. I want to talk to you today about a recent Greentree short sale success. This case Greentree was actually servicing for a lien in first position. Typically when they are servicing for that, the investor is Fannie Mae. One thing that you may have heard about recently, Fannie Mae has been really aggressive on their values and actually they are asking a lot more sometimes than market value. So one of the key things in order to get a short sale approved with Greentree, it is really critical to make sure your valuation is accurate. If it isn’t, then you have to take certain steps in order to make sure that Fannie Mae is not price gouging and causing you as a borrower to go into foreclosure. So we got that one approved and a proper valuation on it. It is absolutely critical and absolutely key, if you do not have that, then Fannie Mae will not agree to approve the short sale. Especially if you do not have the value or the minimum net proceeds that they are looking for.

Again, I am Mark Peek with Keller Williams, your Roseville and Sacramento short sale specialist and I am here to help. So if Fannie Mae owns your loan and you have some questions, give me a call today. I can also help you if you have some other questions about short sales in general. I would be happy to talk with you about it. We can look at your situation and see if a short sale is right for you.

Hi, this is Mark Peek with Keller Williams Real Estate, your short sale specialist in the Roseville and Sacramento area. I would like to tell you today about a short sale success story with a client of ours.

They were pretty delinquent in the process; they had probably missed about 8-9 months of payments. We really encouraged them to get their paperwork into us as soon as possible because there was already a notice of default filed on this property by GMAC. GMAC was definitely pushing and we had the feeling that the trustee sale notice was imminent; once that trustee sale notice comes, you only have 21 days before they auction your property off.

We started the short sale process once the homeowner got us all the paperwork. Right after we submitted the short sale package to GMAC, the homeowner received their notice of trustee sale, so now the question was whether or not we could get it postponed and try to get the short sale negotiated and approved. In this case, we were able to reach out to GMAC and get the trustee sale postponed. We were actually able to participate in a program called HAFA, which gave us four months to sell the property and we didn’t have to worry about a trustee sale for those four months. With HAFA we also had a pre-approved price that we could sell the home for.

If you have any other questions if you’re in a situation similar to this, you can always give me a call and I can check how far you are into the trustee sale process. Sometimes I can also find out when they might file a trustee sale. If you have any specific questions about your situation with your lender or any short sale questions in general, please give me a call or check out my website because I’d be happy to help you with your situation.

Hello everyone my name is Mark Peek and I am your Keller Williams short sale specialist for the Roseville and Sacramento area. I work with distressed property owners in the neighborhoods of Roseville and Sacramento every day to help find the best alternatives to foreclosure and use this blog to share my experiences. If you are currently behind on your mortgage or simply need to sell your distressed property fast take a minute to browse through my website or call me directly to learn about all of the options for you.

In my blog today I wanted to talk with Roseville and Sacramento homeowners about a recent Chase Bank short sale that I closed which was rather unique. In this particular case my client was someone who had been unemployed for years and also did not have a bank account. Most Roseville and Sacramento short sales require numerous pay stubs, bank statements, and tax returns but given this person did not have any of these we essentially completed a no document short sale. Chase used the small amount of paperwork that we acquired and given the information on this property was able to approve a short sale rather quickly without a mountain of paperwork. I thought this was important to share because there may be some Roseville and Sacramento homeowners who are in this same situation and assume they cannot short sale. It is possible in this situation that your bank will ask for a letter of explanation but it is not always a deciding factor. If you have an underwater mortgage with Chase Bank please reach out to me with any questions you have.

You can reach me by filling out a contact form on my website or calling my office directly to chat with an experienced agent about your options. On my website you can also find my Short Or Stay Calculator that can help you determine if a short sale is right for you. Thank you for your time today and I look forward to hearing from you soon at Keller Williams Realty in Roseville and Sacramento.

Hi, this is Mark Peek with Keller Williams Real Estate, your Roseville and Sacramento short sale specialist. The topic today comes from homeowners wondering if they can short sell their property with a tenant living in it. You may have a rental property that you are upside down in and maybe you are in a position where you can’t pay that negative any longer. You may be considering a short sale. You may also be wondering if you can sell the property and leave the tenant in it. It is absolutely possible but it depends though if the tenant is cooperative and takes good care of the property. There is actually a pretty good chance that we could find a buyer that would leave that tenant in there. They can continue with their lease, the buyer would actually buy the property and it might be one of the easiest transactions you can possibly think of.

So a year or so ago, most of the buyers were owner occupied but this year, we’ve gotten lots of interest from investment companies or small investors who are looking to invest in real estate and with the pricing that we have right now, it makes a lot of sense. So it actually could be a win win situation. The tenant gets to stay, and you get relieved of having to throw good money away every month. You can complete a short sale and get it off your back. If you have any questions or you are considering a short sale, first of all I recommend the short or stay calculator and see how long it might take for you to break even. Again, I’m Mark Peek with Keller Williams Real Estate, your Roseville and Sacramento short sale specialist. I’m here to answer any questions you may have about the short sale process. Give me a call and we can discuss your situation today. Thanks and have a great day.