Some Great News On Short Sales And Helping Even More Homeowners

Hello everyone my name is Kerri Naslund with the Bay Area Short Sale Angels, :k1:'s number one short sale team, thank you for stopping by my blog today. Our team of short sale experts ware dedicated to helping :k1: homeowners avoid foreclosure and I use my blog to share valuable information on that very topic. If you are behind on your mortgage, or already considering a short sale, please visit my website or contact me today to discuss your real estate options. For my blog today I wanted to share some exciting news for homeowners in :k1:. The numbers are in and last year our team helped forty four different homeowners avoid foreclosure in the state of :k1:. While our entire team has very proud of this success we look forward to doubling if not tripling that number in the next twelve months. In addition to the forty four clients I also spoke…

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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…

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The Benefits Of A HAFA Short Sale Make Sense For A Homeowner

Hello everyone this is Kerri Naslund with the Bay Area Short Sale Angels, :k1:'s number one short sale team, thank you for your time today. I update my blog on short sales quite frequently and strive to keep :k1: homeowners up to date and informed on the short sale process. For our blog topic today I would like to discuss what exactly a HAFA short sale is and what it can mean for you. Simply put, HAFA is a government backed short sale program that was part of the Fair Lending Act of 2009. Not all lenders are HAFA approved but for those that are it is certainly worth your time to look at this program. The main goal of HAFA is to help homeowners get out from under their distressed property and provide two unique benefits. The first, and most widely known, is that the HAFA program will give you three thousand…

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Non-Recourse or Recourse Loans – Short Sales and Foreclosure

Hi this is Kerri from the Bay Area Short Sale Angels, Northern California's number one short sale team. A recourse loan means that the bank can come after you for any unpaid debt regardless if you foreclose or short sale. Non recourse loans mean that they can't. California is a non-recourse state as long as the loan was taken out as purchase money. That means the money, whether its a first or second was taken out at the origination of purchasing the property. Now let's say you got a loan, you got into your property, and then a while later you took out an equity line, a second loan. The second loan is a recourse loan. So, if you short sale, what does that mean? It means that the bank can ask to have the homeowner to sign a promissory note, sometimes for the amount that's owed, sometimes less than the amount owed.…

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Short Sale Vs. Foreclosure

There are a few different reasons why a seller should choose a short sale over foreclosure. First, you should try to maintain your credit score. A foreclosure is much more harmful to your credit score. The second reason is  bit further down the road, but equally important. Future buying power is also affected by your choice of short sale or foreclosure.  With a short sale you may be able to purchase a property again in as little as two years. With foreclosures, it may take five to seven years before a bank even considers lending you money again.

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