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…

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What You Need to Know About the Short Sale Process before the BPO

Hi, this is Kerri from the Bay Area Short Sale Angels, we are :k1:'s number one short sale team. Today I'm going to talk about the short sale process before the BPO. Where that starts is with you and making the decision to go through with the short sale process. There are other decisions that you could have made but you've done your research, you've talked to people, you've consulted with attorneys and tax advisors and you've decided a short sale is the way to go. At that point you will call the Bay Area Short Sale Angels, that's us. We will generate listing documents and disclosure documents for you and also a short sale package customized to the bank or banks that you might owe money to. At that point, you are going to fill all of that stuff out even though some of it may be something that you've seen once…

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You May Be Eligible For A HAFA Short Sale And You Don’t Even Know It

Hello everyone this is Kerri Naslund with the Bay Area Short Sale Angels, :k1:'s number one short sale team, I hope you are having a great day. If you enjoy this blog make sure to check back often as I keep :k1: homeowners up to date with relevant information on avoiding foreclosure. For our blog topic today I wanted to talk about what is required to be eligible for the HAFA program. First off, for those that don't know, HAFA is a government backed program that offers homeowners three thousand dollars in relocation monies after completing their short sale. The HAFA program has some other great benefits as well but is unfortunately not available to all homeowners. As a HAFA certified short sale agent I am constantly staying up to date on all eligibility requirements for our clients. The most important qualification is that the property must be your primary residence and not…

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Staying Current On Your Mortgage Is A Possibility During A Short Sale

Hello this is Kerri Naslund with the Bay Area Short Angels, :k1:'s number one short sale team, thank you for your time today. I am a licensed real estate agent in the state of :k1: and blog frequently to keep area homeowners up to date on the short sale process and their options for avoiding foreclosure. For our blog today I wanted to talk about whether or not a homeowner can pay their mortgage so it is current while in the middle of a short sale. Whether you win the lottery, find a new job, or get a bonus at work you are certainly able to make payments on your mortgage during the short sale process to remain current. Often times there will be some fees related with paying off the past due amount but that can be negotiable. In fact I have had clients in the past who have been able to…

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Exciting News in the Short Sale Industry now that SB 458 is here!

Hi this is Kerri from the Bay Area Short Sale Angels. We are :k1:'s number one short sale team. This week something very exciting happened in the short sale world. Jerry Brown signed into effect a new law SB 458. SB 931 made sure that there were no deficiency judgments allowed on any first lien. Now SB 458 makes sure that there will not be any deficiencies allowed on any second lien or any junior lien that decides to participate in a short sale. So what does that mean for you and the rest of the world? That means that on a second or junior lien that might have been a recourse loan, once that lender decides to accept the short sale, it's done. By whatever terms that might mean; they might still ask for a promissory note, or they might still ask for a cash contribution to close, but after it's done,…

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Several Reasons Why You Should Choose BASSA or the Bay Area Short Sale Angels to Work on Your Short Sale

Hi, this is Kerri from the Bay Area Short Sale Angels. We are northern California's number one short sale team. Today I'm going to give you three reasons why you would want to work with the Bay Area Short Sale Angels or BASSA. The number one reason is knowledge. We keep ourselves up to date and informed of all the trends and changes in any short sale laws. Basically, anything that has to do with :k1: short sales, we eat, drink, and sleep it every day. The second reason why you want to work with BASSA is our success rate. We have a 93% success rate. In an industry where 40-50% is normal as far as getting short sales to close, I consider that a huge benefit to have us on your side. The last reason why you would want to work with BASSA, or the Bay Area Short Sale Angels, would be…

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What you Need to Know about Keeping Current on Your Bills During a Short Sale

Hi, this is Kerri from the Bay Area Short Sale Angels. We are northern California's number one short sale team. One of the questions that comes up all the time when people are preparing for a short sale is what bills should they continue to pay. First of all, I have to say that I can never tell you not to pay anything. If you have a contract with someone then you need to pay. If you're in a financial situation where you have to pick and choose which bills might be more important to keep current on, the HOA dues if you are living in a community or a condo or townhouse that has a homeowners association. You need to keep those current. An HOA will foreclose on you faster than any bank would. So keep those current because those are the ones that will cause trouble if you don't. Another really…

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Information for Those Suffering from Financial Hardship

Hi this is Kerri from the Bay Area Short Sale Angels, northern California's number one short sale team. So here's a piece of advice not only for people who are suffering a financial hardship or looking at pre-foreclosure or short sale, this is for everyone out there. This is just a little piece of advice based on some stuff that I've seen going on. There are some other teams out there in the US that I talk to on a regular basis, and they've noticed the same thing, so it's not just California. Do not bank at the same institution that carries your loan. Many times, written in the fine print when you sign up for a checking or savings account, it says that if you owe them any money, they can take if from your account. People usually assume that it has to do with credit cards that are linked to the…

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Would getting a Deed in Lieu of Foreclosure be better than a Short Sale?

Hi this is Kerri from the Bay Area Short Sale Angels Team. We have had a few clients of late ask about deed in lieu of foreclosure. There banks have recommended this as a better option than a short sale or normal foreclosure. But in actuality a deed in lieu of foreclosure is essentially the same as giving up and handing over the keys to your home. This is a way for banks to lower the costs they face when handling the paperwork and time related with short sales and foreclosures. A deed in lieu has the same affect on your credit as a normal foreclosure which is why we suggest giving a short sale a try to make life easier for yourself. Most homeowners in the situation of having distressed property are truly in a hardship and do not deserve to have there credit damaged because of this. A deed in lieu…

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