Are You Considering Completing a Short Sale on your VA or GMAC Mortgage?

Posted on Jan 18, 2013 in Roseville and Sacramento Short Sale FAQs

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.

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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.

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Recent Purchase Of GMAC Portfolio By Ocwen Could Mean Short Sale Success For You

Posted on Nov 21, 2012 in Roseville and Sacramento Short Sale FAQs

Hello everyone Mark Peek here with Keller Williams Realty, your Roseville and Sacramento short sale specialist, thank you for joining me today. I work with Roseville and Sacramento homeowners every day to find the best alternative to foreclosure and use my blog to share valuable information with homeowners in similar situations. If your mortgage is underwater or if you need to sell your distressed property fast please take a minute to browse my website or call me directly to learn how I can help you.

For my blog today I wanted to talk with Roseville and Sacramento homeowners who may have recently had their GMAC mortgage transferred to a company called Ocwen. Word on the street is that Ocwen has purchased the servicing rights for the GMAC mortgage portfolio in Roseville and Sacramento and homeowners should be receiving paperwork in the mail to notify them shortly. If you are in the middle of a short sale it is possible this could cause some speed bumps. Anytime your mortgage service company switches during a short sale you will likely have to start over unless an approval letter has already been sent out. I have plenty of success working with Ocwen over the last few years and have closed numerous short sales on behalf of Roseville and Sacramento homeowners with their staff. Their short sale process is a little odd compared to some lenders but if a short sale is right for you we will use our past success to get you an approval. Whether you have already started a short sale with GMAC or have always had a Ocwen serviced loan I can help you get out from under your mortgage debt today.

Please fill out a contact form on my website or call me directly with any questions you may have in regards to the short sale process or starting your file. 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 helping you in the future with your Roseville and Sacramento real estate needs.

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