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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Is Your Mortgage With HSBC?

Posted on Jan 16, 2012 in Roseville and Sacramento Short Sale FAQs

Hi, this is Mark Peek with Keller William’s Real Estate. I am your short sale specialist in the Roseville and Sacramento area. Thank you for visiting me on my blog today. Are you behind on your mortgage payments or are upside down on your mortgage? If so, then I encourage you to call me. I can help you work through your difficult financial situation and provide you with information about various alternatives to foreclosure, such as a loan modification or short selling your home. Don’t be afraid to get help when you need it the most, especially when it involves your financial future.

Today I would like to talk to you about short sales with HSBC. A lot of people have asked me if I have any experience in doing a short sale with HSBC and what they’re like to work with. I’ve actually closed a lot of short sales with them this year, whether they were the first lien holder, second lien holder or if it was an equity line of credit. I’ve been 100% successful in getting short sales closed with HSBC and they are fairly easy to work with. Because I’ve worked with them so frequently, I know their short sale process and know who to talk to should an issue arise.

No one should have to go through foreclosure in this day and age because there are plenty of other options out there that are better than foreclosure. If you have any specific questions about HSBC or would like to discuss your particular situation, please let me know because I’m always happy to help. You can either click the "Getting Started" button at the top of my website or give me a call. I can provide you with the information and resources that you need to successfully short sell your home, so please contact me today.

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Who Is The Investor On Your Loan?

Posted on Nov 28, 2011 in Roseville and Sacramento Short Sale FAQs

Hi, I’m Mark Peek at Keller Williams Real Estate, and we are Roseville & Sacramento’s leading short sale team and your short sale specialists. A common question I get from people who are interested in doing a short sale and say their loan is with Bank of America or Wells Fargo, and they make their payments to either one of these folks. The misconception is that Wells Fargo or Bank of America or whoever you’re making your payments to owns the loan. That’s actually untrue for most of the cases.

Believe it or not, 80% of the people who are making mortgage payments to Bank of America or Wells Fargo or many of the large lenders out there, they actually don’t own the loan on your house, there is an investor. The question is who is that investor? That is the real decision maker, whether you are applying for a loan modification or a short sale, they are the ones who have the final decision about whether or not you are approved.

It’s extremely important to know who the real decision maker is. I could submit an offer to Bank of America; they may decide they want more money or tell me that they want more money, but is that what the investor really wants? What I’ve seen in many cases is the servicers are not exactly doing the best job for the investor. So, knowing who all the players are, in a short sale situation is absolutely crucial to success in closing and keeping your property out of foreclosure.

Again, I’m Mark Peek with Keller Williams, one of Roseville & Sacramento’s leading short sale teams. I’d be happy to answer any questions you might have. Thanks a lot and have a good day.

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