December, 2011 | Bay Area Short Sale Angels | Maxwell Park

Is it Possible to Complete a Short Sale in a Tenant Occupied Property?

Hi, this is Kerri from the Bay Area Short Sale Angels, :k1:'s number one short sale team. So a lot of people ask us how we deal with tenant occupied properties. Many of our clients have investment properties that they need to short sale or even their primary residence that they moved tenants in in order to try and continue to make those payments and it isn't working out. Every state has different laws, but in the state of California, the tenant is required by law to comply and not get in the way of the sale of a house. It doesn't matter that it's a short sale or that the house is underwater, they have to participate. All that is required is 24 hour notice in order to show the property. What we do as a team is try and get the tenant to work with us and have the least amount…

Important Information About the New HAMP Program!

Hi, this is Kerri from the Bay Area Short Sale Angels. We are one of :k1:'s number one short sale team. So a lot of you have heard of the new HAMP program that's out there. It's actually not new, it's been around for a while, but it's just got a breath of fresh air. President Obama made sure that they changed the rules so that now if you qualify for the HAMP program you can refinance your home no matter how far underwater it is. So that's great news for people who have actually stayed current on their mortgage and they want to take advantage of the low interest rates that are happening right now. These homeowners wouldn't qualify before because their houses were completely underwater. Now they qualify as long as they fit certain criteria. First of all, it has to be a Freddie Mac or Fannie Mae loan. There's an…

Is it Possible to Get a Trustee Sale or Foreclosure Date Postponed or Altered?

Hi, this is Kerri from the Bay Area Short Sale Angels, :k1:'s number one short sale team. So a lot of people come to me wondering how to get a trustee sale date postponed. That's the day that the house goes to auction and either gets purchased or goes back into being a bank owned property. It's the official foreclosure date. So, is it possible to postpone this date? Many times the bank will postpone the date for you if it's looking like things are looking positive with your loan modification. Another way to get it postponed or even stalled is by completing a short sale. If we're in contract with a legitimate buyer and we are close to getting the negotiations finalized or in the middle of escrow, many times the bank will actively postpone the trustee sale date. Usually we can't ask for that postponement for up until 10 days before…