Yuba City CA – The Stop Foreclosure Institute recently received a question from Sergio. Here was his question.

“I have owned my house since 2006. My employer reduced my salary by 30% and now I have to move out of state where I have found a new job.

The house is a problem. Since 2006 my house price has dropped by about $40,000. That means I have a $40,000 deficiency, which I don’t want to pay.

I have option to rent the house, but I am still considering a short sale. Any advice? Sergio.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to Sergio’s Question: Sergio, I would attempt a short sale. Depending on your situation and the type of loan you have, more than likely you will not have a deficiency.

I can give you a better answer after I get more information from you. I wouldn’t recommend renting the house. How hard is it going to be to manage when you are out of state?

What if the tenants stop paying? What if a pipe breaks and floods the house? I’m not saying don’t rent the house. I just know from past experience that managing rental property from a distance is super tough.

I knew a real estate investor who targeted what he called “tired, out of town landlords.” He would offer to buy their property below market.

Surprisingly, many of them accepted his lowball offers because they were so tired of dealing with the property. Here is the other downside on renting.

You will probably have negative cash flow every month. I don’t know what your house will rent for. But, if you are upside down on your house value, then you are likely also upside down on the rental value.

That means you will almost certainly lose money on the rent every month. With your precarious financial situation, recent 30% salary cut, and move out of state, the last thing you need is another bill each month.

With a short sale you can walk away owing nothing, with no tax liability, and be eligible to buy another house in 3 years.

That sounds a lot better to me than being stuck with a money losing house 2 years from now. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at barmstrong@syix.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-751-2844

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Yuba City loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Barbara Armstrong.

Barbara is a Real Estate Agent at RE/MAX Gold. Yuba City Short Sales Realtor:

Phone: 530-751-2844. barmstrong@syix.com.

Helping You to Keep Your Home

View My homes for sale at YubaCityLoanModHelp.com.

Barbara Armstrong specializes in loan modification assistance and short sales in Yuba City California. Yuba City Loan Modification Help, Yuba City Short Sales. Yuba City Short Sale Realtor. Marysville CA Loan Modification Help, Marysville CA Short Sales. Marysville CA Short Sale Realtor. Plumas Lake CA Loan Modification Help, Plumas Lake CA Short Sales. Plumas Lake CA Short Sale Realtor. Yuba City CA Short Sales. Yuba City Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Barbara Armstrong, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Barbara’s personal views and do not reflect the views of RE/MAX Gold.

This information on Yuba City Short Sale Question: Should I Short Sale My Home? is provided as a courtesy to our viewers to help them make informed decisions.

Yuba City CA – A Deed-In-Lieu is often called a “friendly foreclosure.” A Deed-In-Lieu is basically the foreclosure equivalent of a plea bargain.

The biggest beneficiary of a Deed-In-Lieu is the bank. They get a faster, easier foreclosure. But, what do you, the homeowner, get?

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Unfortunately, not much. I see no benefit to a homeowner. Here are some Deed-In-Lieu myths I saw floating around on the internet. A well respected personal finance website is stating the following as though it is fact.

Here is the biggest myth this article has about Deed-In-Lieu: Your lender agrees not to initiate foreclosure proceedings if you agree to a Deed-In-Lieu.

The article would lead you to believe that somehow the lender would get the property without having to foreclose. That is simply not true.

A Deed-In-Lieu is when a homeowner simply tells the judge that they are not contesting the foreclosure in any way. The judge then bypasses the foreclosure lawsuit and schedules the property for a foreclosure auction.

So, the property is still sold at a foreclosure auction. It still shows up as a foreclosure on your credit report. This is why a short sale is a much better option than a Deed-In-Lieu.

With a short sale you avoid having the stain of a foreclosure on your credit. In addition, are eligible to get a loan to buy a home in 3 years instead of the 5 year wait necessary after a foreclosure. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at barmstrong@syix.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-751-2844

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Yuba City loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Barbara Armstrong.

Barbara is a Real Estate Agent at RE/MAX Gold. Yuba City Short Sales Realtor:

Phone: 530-751-2844. barmstrong@syix.com.

Helping You to Keep Your Home

View My homes for sale at YubaCityLoanModHelp.com.

Barbara Armstrong specializes in loan modification assistance and short sales in Yuba City California. Yuba City Loan Modification Help, Yuba City Short Sales. Yuba City Short Sale Realtor. Marysville CA Loan Modification Help, Marysville CA Short Sales. Marysville CA Short Sale Realtor. Plumas Lake CA Loan Modification Help, Plumas Lake CA Short Sales. Plumas Lake CA Short Sale Realtor. Yuba City CA Short Sales. Yuba City Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Barbara Armstrong, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Barbara’s personal views and do not reflect the views of RE/MAX Gold.

This information on A Ninth Common Yuba City Short Sale Myth: A Deed In Lieu is not a foreclosure and therefore does not harm my credit like a foreclosure would is provided as a courtesy to our viewers to help them make informed decisions.

Yuba City CA – I’m writing a series in response to a number of big misconceptions I saw on a personal finance website online.

I don’t know if the personal finance write either didn’t know about short sales and was pretending to be an expert, or they were being fed bad information.

It could have been the latter because there is so much incorrect information about short sales being discussed as though it is fact.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

The article states that banks accept short sales because foreclosure auctions bring much less money. Most people that read that think that foreclosure auctions usually end horribly for the banks.

After all, not everyone can bid at the foreclosure auctions. Most people hear about how people make a lot of money buying properties at the foreclosure auction.

They read that and think that the properties sell at the foreclosure auction for a big discount. But, that isn’t true. And that’s why this statement isn’t correct.

Yes, banks do prefer a short sale over a foreclosure. And the reason they do is because the home usually sells for more money as a short sale. But, they are not forced to sell the home for a big discount at the foreclosure auctions.

Most foreclosure auctions give them the right to bid all the way up to the amount they are owed. It doesn’t cost them anything to bid all the way up to the amount they are owed. They loaned the money and that is their bid.

All they have to pay are the court fees to conduct the sale and any taxes on the sale. That is why most properties that are foreclosed on are bought by the banks. They put them on the open market.

The goal is to sell the foreclosed property for as much money as possible. This is why most upside down homes sell to the bank at the foreclosure auction. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at barmstrong@syix.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-751-2844

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Yuba City loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Barbara Armstrong.

Barbara is a Real Estate Agent at RE/MAX Gold. Yuba City Short Sales Realtor:

Phone: 530-751-2844. barmstrong@syix.com.

Helping You to Keep Your Home

View My homes for sale at YubaCityLoanModHelp.com.

Barbara Armstrong specializes in loan modification assistance and short sales in Yuba City California. Yuba City Loan Modification Help, Yuba City Short Sales. Yuba City Short Sale Realtor. Marysville CA Loan Modification Help, Marysville CA Short Sales. Marysville CA Short Sale Realtor. Plumas Lake CA Loan Modification Help, Plumas Lake CA Short Sales. Plumas Lake CA Short Sale Realtor. Yuba City CA Short Sales. Yuba City Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Barbara Armstrong, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Barbara’s personal views and do not reflect the views of RE/MAX Gold.

This information on A Sixth Common Yuba City Short Sale Myth: The Property Cannot Already Be In Foreclosure is provided as a courtesy to our viewers to help them make informed decisions.

Yuba City CA – We get all sorts of questions from buyers trying to purchase short sales. “We made an offer on a short sale almost 2 months ago. We haven’t heard anything back from the bank. Why won’t they approve my offer?”, they ask us.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

So why do some buyers wait for 2-3 months and never get a response on their short sale offer? Are the banks really that bad?

Here is the answer to those questions. In some cases the reason that short sales are not approved quickly is because of the lender. The lender may just be backed up.

I know that we have waited a week for a call back from the bank. We had a designated short sale negotiator at the bank.

But, they were so overworked and backed up on files that it took them a week to return a call. That’s pathetic, isn’t it?

In other situations, we have seen the banks demand that the sellers agree to a promissory note. If the sellers don’t agree to it, then they won’t approve the short sale. Some of those sellers refused to sign a promissory note.

The short sale was never approved. But, we have seen lenders ask for a promissory note on less than 10% of the short sales we have handled. So, that is rarely the problem.

In most cases the problem is that the agent negotiation the short sale with the lender doesn’t know what they are doing. They aren’t following up with the lender regularly.

They don’t take the short sale process seriously. The lender tells them that they are missing documents and it takes them a week to track them down. You have to push the bank to approve the short sale.

Most agents aren’t trying to keep the process moving along. And the people at the banks are overworked and don’t push the files along easier.

So, if you are buying a short sale, don’t make the mistake of making an offer on just any short sale. Check to make sure that the seller has hired a hard working, experienced short sale agent to help them sell their home. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at barmstrong@syix.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-751-2844

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Yuba City loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Barbara Armstrong.

Barbara is a Real Estate Agent at RE/MAX Gold. Yuba City Short Sales Realtor:

Phone: 530-751-2844. barmstrong@syix.com.

Helping You to Keep Your Home

View My homes for sale at YubaCityLoanModHelp.com.

Barbara Armstrong specializes in loan modification assistance and short sales in Yuba City California. Yuba City Loan Modification Help, Yuba City Short Sales. Yuba City Short Sale Realtor. Marysville CA Loan Modification Help, Marysville CA Short Sales. Marysville CA Short Sale Realtor. Plumas Lake CA Loan Modification Help, Plumas Lake CA Short Sales. Plumas Lake CA Short Sale Realtor. Yuba City CA Short Sales. Yuba City Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Barbara Armstrong, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Barbara’s personal views and do not reflect the views of RE/MAX Gold.

This information on The Biggest Mistake Buyers Make When Buying A Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Yuba City CA – We are explaining the steps to approving a short sale in 90 days or less. Today, we’re going to explain Step 3: Find out the BPO value.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

This seems fairly simple. But, most agents never find out this number. as a result, they don’t know why their short sales are not being approved.

We talked to another agent a little while ago. “I’ve got 5-6 short sale files under contract. But, none of them are being approved.”

“The short sale negotiation company is working on them, but they can’t get any of them approved. What do I need to do?”, he asked us.

We started asking him for more info on the files. “What are the BPO values?” What percentage of that are the homes selling for?” What type of loan is it?”

Now, why do we ask these questions? Because that is how you determine what the problem is. We’ve negotiated over a hundred short sales with all the different lenders.

We know why the banks accept short sales and why they turn them down. On our short sales, the majority of the reason an offer was turned down was because of a high BPO.

The bank thinks the home is worth 200k, but the buyers won’t offer any more than 170k. The offer is not going to be accepted.

But, sometimes they will accept an offer on a 200k BPO if it is above 180k. It does happen, but not very often. 190k on a 200k BPO happens a lot more often.

If you don’t know the BPO value, then you don’t know why they are turning down your short sale offer. You don’t know what it will take for them to approve it. You are shooting in the dark.

This is the case whether you are negotiating the short sale yourself, or having someone else do it for you. Either way, your chances at success are much lower.

Here is how to find out the BPO value. First, ask the person at the lender that is negotiating the short sale. Most of the time they will give you that information.

If the short sale loan is a VA or FHA insured loan, then you can get a copy of the FHA or VA appraisal. (The banks use those to determine the property’s value instead of a BPO.)

If the lender will not give them the value, then the home owner can request a copy of the BPO. Most banks will give them that information because a homeowner is legally entitled to it.

They may not give it to the homeowner’s agent, but they will give it to you. Once you have that information you can determine if the short sale offer is reasonable or not. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at barmstrong@syix.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-751-2844

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Yuba City loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Barbara Armstrong.

Barbara is a Real Estate Agent at RE/MAX Gold. Yuba City Short Sales Realtor:

Phone: 530-751-2844. barmstrong@syix.com.

Helping You to Keep Your Home

View My homes for sale at YubaCityLoanModHelp.com.

Barbara Armstrong specializes in loan modification assistance and short sales in Yuba City California. Yuba City Loan Modification Help, Yuba City Short Sales. Yuba City Short Sale Realtor. Marysville CA Loan Modification Help, Marysville CA Short Sales. Marysville CA Short Sale Realtor. Plumas Lake CA Loan Modification Help, Plumas Lake CA Short Sales. Plumas Lake CA Short Sale Realtor. Yuba City CA Short Sales. Yuba City Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Barbara Armstrong, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Barbara’s personal views and do not reflect the views of RE/MAX Gold.

This information on Step Three To Get A Yuba City Short Sale Approved In 90 Days Or Less is provided as a courtesy to our viewers to help them make informed decisions.

Yuba City CA – The Stop Foreclosure Institute recently received a question from Jon. Here was his question.

“I am behind on my payments and my bank recently started the foreclosure process. I received something in the mail about a “deed in lieu of foreclosure.” What is that and how does it affect my credit? Jon.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to Jon’s Question. Some people say it is a great way to avoid foreclosure. Actually, all it does is accelerate the foreclosure process.

A deed in lieu is not better for your credit than a foreclosure. I’ve heard many people say, “A Deed In Lieu is better for your credit because you avoid foreclosure.” It’s kind of sad to hear them say it.

After you sign all the Deed In Lieu paperwork, then your house will still be sold at a foreclosure auction. Any person can actually bid on the house at the auction. It will show up on your credit history as a foreclosure.

A Deed In Lieu does not always mean that you will not owe the lender any more money. A deed in lieu is similar to a no contest plea. The judge stops analyzing the foreclosure case and simply schedules the foreclosure auction.

Unless otherwise stipulated, the lender still has all the deficiency and future collection rights. They may come after you for the loss.

A deed in lieu is not always easy. this is absolutely not true. The process required a lot of follow up with the lender. Most lenders require you submit all your financial information.

They want to make sure that you genuinely cannot afford the property. The process often takes between 20 and 40 hours over the course of several months.

First, you submit your paperwork. Then, you call your lender to make sure they received your paperwork. Then, you have to wait while they review it.

Then, you have to answer any questions and provide any paperwork they request. To me this is insane. Why not just live for free until your lender forecloses? A Deed In Lieu of foreclosure offers almost zero benefit to you.

So why go thru the aggravation? That is why I always recommend a short sale over a Deed In Lieu. At least you can have a realtor hel you with the process. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at barmstrong@syix.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-751-2844

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Yuba City loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Barbara Armstrong.

Barbara is a Real Estate Agent at RE/MAX Gold. Yuba City Short Sales Realtor:

Phone: 530-751-2844. barmstrong@syix.com.

Helping You to Keep Your Home

View My homes for sale at YubaCityLoanModHelp.com.

Barbara Armstrong specializes in loan modification assistance and short sales in Yuba City California. Yuba City Loan Modification Help, Yuba City Short Sales. Yuba City Short Sale Realtor. Marysville CA Loan Modification Help, Marysville CA Short Sales. Marysville CA Short Sale Realtor. Plumas Lake CA Loan Modification Help, Plumas Lake CA Short Sales. Plumas Lake CA Short Sale Realtor. Yuba City CA Short Sales. Yuba City Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Barbara Armstrong, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Barbara’s personal views and do not reflect the views of RE/MAX Gold.

This information on Yuba City Short Sales: How Does A Deed In Lieu Affect My Credit? is provided as a courtesy to our viewers to help them make informed decisions.

Yuba City CA – The Stop Foreclosure Institute recently received a question from Richard. “I accepted a job transfer and had to move. Unfortunately we were upside down on the house.

I decided to rent it out rather than short sale it. The renters just moved out. I just checked the house. They trashed it!

I could rent the house out again, but I would have to spend several thousand dollars fixing it up first. What would you recommend that I do?” Richard asked.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

This is a classic example of when a short sale is the right option. Rather than limping on with a wound you are able to get rid of the upside down debt and move on with your life.

The banks received a bailout. where is the bailout for the common man? A rental that is losing money every month is like a cancer. Left untouched it just gets worse and worse.

Unless you have a lot of cash to treat the problem, then it will eat away at your finances month after month. You could fix up the house and rent it out again. But, you risk having the same thing happen all over again.

If you are able to rent it and cover all the costs, then I would recommend you keep the home. If not, then I would recommend you short sell it.

If you can break even, then the house will be a good investment as the real estate market recovers. However, you will always risk large unexpected costs like the one you are experiencing right now.

If it the rent does not cover all the costs, then the burden will only get bigger as time progresses. Costs will keep on going up. Rent prices might drop. The housing market could decline even further.

It would be better to just get rid of the liability now, once and for all. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at barmstrong@syix.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-751-2844

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Yuba City loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Barbara Armstrong.

Barbara is a Real Estate Agent at RE/MAX Gold. Yuba City Short Sales Realtor:

Phone: 530-751-2844. barmstrong@syix.com.

Helping You to Keep Your Home

View My homes for sale at YubaCityLoanModHelp.com.

Barbara Armstrong specializes in loan modification assistance and short sales in Yuba City California. Yuba City Loan Modification Help, Yuba City Short Sales. Yuba City Short Sale Realtor. Marysville CA Loan Modification Help, Marysville CA Short Sales. Marysville CA Short Sale Realtor. Plumas Lake CA Loan Modification Help, Plumas Lake CA Short Sales. Plumas Lake CA Short Sale Realtor. Yuba City CA Short Sales. Yuba City Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Barbara Armstrong, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Barbara’s personal views and do not reflect the views of RE/MAX Gold.

This information on A Good Example Of When A Yuba City Short Sale Would Make Life Easier is provided as a courtesy to our viewers to help them make informed decisions.

Yuba City CA – There are some disadvantages of a short sale. But, remember how much a short sale would save you over a foreclosure.

A short sale allows you to buy another home 2-4 years sooner and you avoid paying 2-4 years of rent. That would enable you to pay off your house 2-4 years sooner. You can put the $20,000 to $100,000 saved into your retirement.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Based on that I think we can both agree that a short sale can save you between $20,000 and $100,000 compared to a foreclosure. So, are the following disadvantages worth $20,000 to you?

Cons of a Short Sale:

1. There is no guarantee your bank will accept the short sale offer. However, banks are working very hard to improve their processes. They want the short sale process to become easier to work with.

2. The bank will want to see all documentation on your income and assets. Some people are private and don’t want someone else looking over their information.

3. Short Sales do not always go fast. They can drag on for 3-6 months. However, you can still live in the home for free during that time.

The bottom line is that a short sale is a good option for most homeowners. It allows you to get rid of the debt and move on with your life. Many people rent another home for less than their mortgage payment.

In one example, a homeowner in foreclosure found a larger home with a garage. It even had a fenced backyard for their kid. Their mortgage payment was $1,500.

They rented the nicer, bigger house for $850 a month. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at barmstrong@syix.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-751-2844

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Yuba City loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Barbara Armstrong.

Barbara is a Real Estate Agent at RE/MAX Gold. Yuba City Short Sales Realtor:

Phone: 530-751-2844. barmstrong@syix.com.

Helping You to Keep Your Home

View My homes for sale at YubaCityLoanModHelp.com.

Barbara Armstrong specializes in loan modification assistance and short sales in Yuba City California. Yuba City Loan Modification Help, Yuba City Short Sales. Yuba City Short Sale Realtor. Marysville CA Loan Modification Help, Marysville CA Short Sales. Marysville CA Short Sale Realtor. Plumas Lake CA Loan Modification Help, Plumas Lake CA Short Sales. Plumas Lake CA Short Sale Realtor. Yuba City CA Short Sales. Yuba City Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Barbara Armstrong, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Barbara’s personal views and do not reflect the views of RE/MAX Gold.

This information on A Few Disadvantages Of A Yuba City Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Yuba City CA – In a recent blog posts, I discussed how banks throw out a short sale file if it is rejected. When an offer comes in on a short sale, it takes 30-60 days for a person at the bank to look at the offer.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Then, that person orders an appraisal on the property. After that appraisal comes back, the bank employee reviews the property value and the home seller’s personal financial situation.

Based on that, they approve or deny the short sale offer. They do this to avoid approving short sales when either a homeowner can still afford the house or the house is selling for under the appraised value.

What do they do if the short sale offer is rejected? Well, they tell the buyer to hit the road and close the file. Everything gets thrown out. The appraisal is thrown out. And all the time that employee spent looking at the seller’s finances is thrown out.

So, each buyer has to wait 60-90 days for an answer on their short sale. If that buyer’s offer doesn’t work, then all that paperwork is thrown out and the property is put back on the market.

(Yes, some banks are pre-approving short sales before they come on the market. But, that is the exception, not the rule. Most banks are not pre-approving short sales.)

The home is marketed and then the next buyer has to go thru the process all over again. So, why does this matter to you?

A short sale helps you avoid the bad mark a foreclosure puts on your credit for the rest of your life. On any future loan application you will have to put “yes” next to the question “Have you ever lost a home to foreclosure?”

So even though the foreclosure goes off your credit in 7 years that question stays with you for the rest of your life. That is why most people prefer a short sale.

Your agent is going to have to be persistent in order to give you a better chance at a successful short sale. A competent, experienced short sale realtor that can successfully navigate the system.

They can convince your lender that it is in their best interest to accept the short sale offer. They can also convince them to pre-approve the short sale at a set price.

This gives you a better chance at avoiding foreclosure. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at barmstrong@syix.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-751-2844

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Yuba City loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Barbara Armstrong.

Barbara is a Real Estate Agent at RE/MAX Gold. Yuba City Short Sales Realtor:

Phone: 530-751-2844. barmstrong@syix.com.

Helping You to Keep Your Home

View My homes for sale at YubaCityLoanModHelp.com.

Barbara Armstrong specializes in loan modification assistance and short sales in Yuba City California. Yuba City Loan Modification Help, Yuba City Short Sales. Yuba City Short Sale Realtor. Marysville CA Loan Modification Help, Marysville CA Short Sales. Marysville CA Short Sale Realtor. Plumas Lake CA Loan Modification Help, Plumas Lake CA Short Sales. Plumas Lake CA Short Sale Realtor. Yuba City CA Short Sales. Yuba City Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Barbara Armstrong, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Barbara’s personal views and do not reflect the views of RE/MAX Gold.

This information on Yuba City Short Sales: Why Persistence Is So Important In Success At Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

Yuba City CA – Mistake #1: Deeding your property to a third party without confirming that your debt has been paid off.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

You will need to consult with an independent attorney, not the buyer’s attorney. Deeding your property will render you powerless.

The new owner will always have control and as such they can do anything with the property, including renting it out and keeping the rent, or even attempting to sell it to make profit.

This may in return have a negative financial impact on you because the new owner might not make your mortgage payments. As you well know, this can cause huge damage to your credit.

Mistake #2: Selling your home at a huge discount.

Take time to explore your options especially when your foreclosure sale is more than 45 days away. Take a day or two making phone calls just to try and find an appropriate solution for your situation.

Do not allow a buyer to push just to get you sell them your property. In such a case, the deal will most likely be favorable to them and not to you. Equity in your home belongs to you.

Mistake #3: Authorizing a prospective buyer to deal directly with your lender.

The buyer will always ask your lender to accept a discounted payoff. The negotiations may be longer than expected and if they fail to agree, the buyer may decide not to buy your property.

This could waste time for you. Before you realize, you may not have time to resolve the situation and avoid foreclosure. In addition, not knowing what goes on between the buyer and your lender may be detrimental to you.

It may happen in such a way that the buyer could handle the negotiation and presentation of information in a way that makes it very difficult for you to resolve your loan situation later.

If you believe that this is the best option for you, please make sure that you consult with a real estate professional or an attorney before signing a contract.

Hiring a real estate professional to represent you costs you nothing as the lender will pay the fees. We have helped homeowners like you and we can do it for you at absolutely no cost.

The worst thing for you to do is to sit back and do nothing about your situation. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at barmstrong@syix.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-751-2844

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Yuba City loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Barbara Armstrong.

Barbara is a Real Estate Agent at RE/MAX Gold. Yuba City Short Sales Realtor:

Phone: 530-751-2844. barmstrong@syix.com.

Helping You to Keep Your Home

View My homes for sale at YubaCityLoanModHelp.com.

Barbara Armstrong specializes in loan modification assistance and short sales in Yuba City California. Yuba City Loan Modification Help, Yuba City Short Sales. Yuba City Short Sale Realtor. Marysville CA Loan Modification Help, Marysville CA Short Sales. Marysville CA Short Sale Realtor. Plumas Lake CA Loan Modification Help, Plumas Lake CA Short Sales. Plumas Lake CA Short Sale Realtor. Yuba City CA Short Sales. Yuba City Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Barbara Armstrong, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Barbara’s personal views and do not reflect the views of RE/MAX Gold.

This information on Yuba City Short Sales: Mistakes To Avoid When Facing Foreclosure is provided as a courtesy to our viewers to help them make informed decisions.