Is it Possible to complete a Short Sale if I Have a Tenant Living in my Home?

Posted on Jan 8, 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. 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.

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Do You Have A Home Loan With American Home Mortgage Servicing/Homeward Residential?

Posted on Jul 20, 2012 in Roseville and Sacramento Short Sale FAQs

Hi, this is Mark Peek at Keller Williams Real Estate, your short sale specialist for the Roseville and Sacramento area. I wanted to talk to you today about American Home Mortgage Servicing. Many of you may have received a notice in the mail stating that they have changed their name to Homeward Residential. Some of my clients started receiving things in the mail from them, typically collection notices, but there wasn’t really any explanation for them. At first, we thought it was a third party trying to collect on their behalf. After further research, they have changed their name, supposedly to provide better service to their customers but that remains to be seen.

If you have any questions about a mortgage that has been transferred to Homeward Residential, I’d be happy to talk to you about that. Essentially everything has stayed the same over there, especially with short sales. The only real change was the name change. If you have any questions or concerns because you’re considering a short sale with Homeward Residential, give me a call and I’d be glad to talk to you about it.

If you’re on the fence and not sure if it’s the right decision for you, you might want to take advantage of the short sale calculator that’s on my website. All you have to do is input your street address, principal balance on your mortgage, interest rate and monthly mortgage payment and it’ll send you a report with information on how long it will take for you to breakeven and if a short sale is the right choice for you given your particular situation. If you have any other questions, you can hit Start at the top of the page and enter in your information or you can give me a call at Keller Williams. Thanks for joining me today, I look forward to helping you with your short sale.

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WIll I Have To Pay Closing Fees Associated With My Short Sale

Posted on Jul 12, 2012 in Roseville and Sacramento Short Sale FAQs

Hello everyone Mark Peek here with the Peek Real Estate Group, your Roseville and Sacramento short sale specialists, thank you for checking out my blog today. I work with Keller Williams Realty in the Roseville and Sacramento area and use my blog to share valuable information with distressed property owners on their options for avoiding foreclosure. If you are behind on your mortgage or not sure what to do with your distressed property fill out the contact form on my website or call me today to learn more about all of your real estate options.

Today I wanted to talk with you about a short sale closing and what to expect as a seller. I wanted to talk about this because often times when completing a short sale I get asked questions about who is responsible for any closing costs or fees associated with the real estate transaction. On a short sale contract there is a separate page that lists what the buyer or seller will pay in regards to escrow fees, inspections, and city transfer fees. Often these fees are listed as being paid by the seller but you need not worry because this not usually the case. Since this a short sale and not an equity sale any fees or payments associated with the closing must be approved by the lender of the initial mortgage. Part of the negotiation process while working with your lender is making sure those fees are covered by the bank from the proceeds of the home sale. Every Roseville and Sacramento short sale I take on is with the goal of selling your home with absolutely zero out of pocket costs and all deficiencies waived.

Don’t let the concern of expensive closing costs or escrow fees stop you from getting our from under your distressed property. Give me a call today or fill out the contact form on my website to discuss your unique real estate situation and how I can help you avoid foreclosure. Thank you for your time today and I hope to hear from you soon at Keller Williams Realty in Roseville and Sacramento.

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Do You Have A Mortgage With Aurora Loan Services?

Posted on Jul 3, 2012 in Roseville and Sacramento Short Sale FAQs

Hello everyone, this is Mark Peek at Keller Williams Real Estate, your Roseville and Sacramento short sale specialist. I wanted to talk about Aurora Loan Servicing. If you have a loan with them, you may have already received a letter from them telling you that they are transferring their servicing rights over to Nationstar, who has agreed to purchase them. If you have a mortgage with Aurora, Nationstar is going to be your new servicer.

I’ve closed short sales not only with Aurora, but also with Nationstar. I can actually tell you that this is definitely an upgrade. Nationstar is typically more responsive and just generally easier to worth with in negotiating a short sale. If you have any specific questions and you have a mortgage with either Aurora or Nationstar, feel free to give me a call and I can walk you through the short sale process and answer any questions you might have. Again, it’s a definite upgrade in my opinion with Aurora transferring their servicing rights to Nationstar.

If you’re considering a short sale and are wondering if it’s the right decision for you, you can actually use the Short or Stay Calculator on my website. If you enter in your property and loan information, it will tell you how long it will take you to break even with your current mortgage balance. It’ll help give you an idea if a short sale is right for you and how much it will cost before your property breaks even. It’s a great tool and homeowners are really enjoying using this tool. It’s helping a lot of people come to the decision of whether or not a short sale is best for them.

If you have any further short sale questions you can also give me a call, send me an email or click Start Here at the top of the page, enter in your information and I’ll get in touch with you. Thanks again for joining me on my short sale blog.

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