Short Sale Success With Midland Mortgage

Posted on Jan 13, 2013 in Roseville and Sacramento Short Sale FAQs

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.

Read More

Changes To HAFA Program Don’t Guarantee Relocation Assistance

Posted on Jan 12, 2013 in Roseville and Sacramento Short Sale FAQs

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.

Read More

What is Mandatory in order to Complete a Successful Short Sale with Greentree?

Posted on Jan 11, 2013 in Roseville and Sacramento Short Sale FAQs

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.

Read More

GMAC Trustee Sale Date Postponed Allowing Us To Complete A Short Sale

Posted on Jan 10, 2013 in Roseville and Sacramento Short Sale FAQs

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.

Read More