Looking To Short Sale But Have Much Needed Home Repairs As Well?

Posted on Jan 15, 2013 in Roseville and Sacramento Short Sale FAQs

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.

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We Have Success When Escalating Our Bank Of America Files

Posted on Jan 8, 2013 in Roseville and Sacramento Short Sale FAQs

Hi, this is Mark Peek at Keller Williams Real Estate, your short sale specialist in Roseville and Sacramento. Today I wanted to talk about a Bank of America file that we’ve had for a little while.

Bank of America used to be a lot better with their short sales but right now they’re going through a ton of changes and lots of service releases to other banks. One of the people that I used to reach out to in their short sale department has either moved on to a different company or moved departments, but we still have a large number of contacts out there. This seems to be happening a lot with Bank of America where we have to reach out for help from someone in their short sale department because we have a negotiator that’s not performing or files are being stagnant. The supervision isn’t necessarily there either; the supervisors don’t really seem to help out in most cases so we usually have to reach out to a person that’s quite a bit higher to get help with a short sale file. We seem to have a lot more of these lately with Bank of America and we’re not afraid to get the help that we need to get these short sales closed for our clients.

If you have a situation that you’re concerned about, maybe you’ve tried a loan mod or you had a short sale that was declined with Bank of America, we’ve been able to get through a lot of situations that other short sale agents thought were impossible, please give me a call. I’d also like to encourage you to try out the short sale calculator on my website; it can help you determine if a short sale is the right move for you or if you could possibly stay in your home. It’s a great tool that a lot of homeowners are using to determine if they should short sale, or even if they just want to find out their property value.

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Our 2012 Short Sale Results

Posted on Jan 4, 2013 in Roseville and Sacramento Short Sale FAQs

Hi this is Mark Peek with Keller Williams Real Estate, your short sale and real estate specialist in Roseville and Sacramento. I wanted to talk today about our team’s success in 2012. We closed well over 50 short sales; the final number won’t be known until the next week or so because we have a few files that are waiting to close. We’re reflecting back on the past year to see how the changes in the short sale world have affected us as a team and what our success has been.

One of the things that I recommend if you’re looking for a short sale agent is to consider asking them how many short sales they’ve closed within the last year and how many they’ve actually lost to foreclosure. In 2012 we lost no short sales to foreclosure; not a single one. I’ve got to say we had some of the most challenging short sales ever in 2012 with regards to HOA liens, multiple liens, city down payment housing assistant programs. Regardless, though, we were able to find a solution for each of these problems. We are aggressive at finding solutions, so if you’re looking for a short sale agent that has a can do attitude and will stop at nothing to get your short sale completed, then give us a call. We’d be happy to talk with you about your situation and if you’re interested in listing your home, we can go over a short sale with you.

If you’re considering a short sale at all, I recommend the short sale calculator to see if it’s best to keep your property or if a short sale may be the best financial decision for you. If you enter in your information, it’ll tell you how long it will take for you to break even and what your property value is. Maybe you’re in a situation where you may have a pay cut coming up or your interest rate is going to increase in the next few months; this could put you in a position where you won’t be able to afford your mortgage payment any more. Many homeowners that I’ve been speaking with have been in a situation such as this and tried to work something out with their lender but they just haven’t been cooperative. If you’re in this situation, please give us a call because we’re happy to help you and determine if a short sale is in your best interest.

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Do You Need Help With Your FHA Short Sale?

Posted on Oct 17, 2012 in Roseville and Sacramento Short Sale FAQs

Hi this is Mark Peek with Keller Williams Real Estate, your short sale specialist for the Roseville and Sacramento area. Today’s topic is on FHA loans and short sales. FHA loans weren’t very popular during the biggest part of the housing boom but they started making their way onto the scene again in 2007-2008 when our market was still in decline. We’re starting to see more and more of these FHA loans in default, so much to the fact that Wells Fargo is now being sued by the government.

In an FHA loan, the government backs the loan and in this case they are alleging that Wells Fargo falsified documents that made these borrowers qualify for an FHA loan. As a result the government has paid hundreds of millions of dollars in claims because when a loan defaults and goes into foreclosure, FHA has to pay the claim on it; that’s what your mortgage insurance is for. It pays the claim back to the lender which in this case is Wells Fargo and they’ve paid quite a few claims to Wells Fargo; as a result they’re looking a bit deeper into this situation. If you have an FHA loan and you’re in a situation where you feel you need to short sale your home, an FHA short sale is a little bit different as far as getting it approved. You have to have what’s called an approval to participate in order to proceed with the short sale.

If you have any further questions about this, or any other short sale related matter, feel free to give me a call or fill out the getting started form on our website because I’d be happy to talk to you about it in further detail. Also, if you’d like to know what your property value is, how underwater you are and how long it will take you to break even on your home, try out the short sale decision calculator on my website. It’s a great tool that a lot of homeowners in Roseville and Sacramento are taking advantage of, so I’d like to encourage you to do the same. Thanks again for visiting me at my short sale blog today.

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