bay area short sale | Bay Area Short Sale Angels | Monclair | Piedmont

What Happens If You Can’t Move Out Before THe Close of Escrow

Hello everyone Kerri Naslund here with the Bay Area Short Sale Angels, :k1:'s number one short sale team, thanks for checking out my blog today. My team and I specialize in short sales in :k1: and I use my blog to provide valuable information to homeowners who may be facing foreclosure. If you are already considering a short sale or if foreclosure is nearing please give me a call today to discuss your options. For our topic today we are going to discuss what options you have if a seller is unable to move out before the close of escrow. The property is in closing, the short sale has been approved, but you haven't found a new place to live yet and need to be out fast. In this situation it will depend largely on who your lender is and if you were approved for any short sale programs like HAFA. In the…

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…

The Short Sale Process after the BPO

Hi, this is Kerri from the Bay Area Short Sale Angels, :k1:'s number one short sale team. I'm here to talk to you about what happens after the BPO or Broker's Price Opinion. After the BPO is ordered, it typically takes about a week and a half to 2 weeks for that BPO to come in with a value to the short sale negotiator. Once the negotiator gets the BPO, then they are able to take a look at what we have on the table. It's a purchase agreement, or an offer on the property and the BPO which is the broker's opinion on what the property is worth. Then they weigh them and they will make one of three decisions. The first decision is an approval. Once we get an approval then approval letters come out about a week and a half to two weeks after. At that point we can open…

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…

Stop Those Harassing Phone Calls from Your Loan Servicer or Lender Forever!

Hi this is Kerri with the Bay Area Short Sale Angels. We are :k1:'s number one short sale team. So what do you do if they won't stop calling you, they won't stop harassing you? This is a question that we get a lot. Usually once we turn in a complete short sale package, they usually stop calling you. A complete short sale package includes an offer from a buyer. So, until they get an offer from a buyer, they will call you day and night, filling up your voice mail. We typically tell our clients to ignore the phone calls or answer and tell them to talk to your real estate agent and then give them our phone number. Under the fair lending law and fair debt collection practices act. I'm going to read something that you can say that will scare them and make the calls stop. Once you ask them…

Debunking The Myth That A Short Sale Will Take Forever To Close

Hello this is Kerri Naslund from the Bay Area Short Sale Angels, :k1:'s number one short sale team, thanks for joining me. Today I wanted to talk about how long a short sale will take to close and what to expect during the process. Often times when meeting with a new client one of their big concerns is how long their file will take to get approved. I am not sure where it originated but there is a short sale myth floating around :k1: that short sales take forever to get approved. This is simply not true. Sure there are short sale horror stories of listings taking eight to ten months to close but with the Short Sale Angels we work our tails offs to get you approval fast. A normal short sale in the :k1: for our team takes thirty five to forty five days thanks to aggressive pricing and a time…

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…

Who are the Faces behind BASSA?

Hi, this is Kerri from the Bay Area Short Sale Angels. We are northern California's number one short sale team. You might be wondering who are the other faces behind the Bay Area Short Sale Angels, or BASSA? So of course there's me. I do a lot of the upfront work, and I'm usually the first point of contact with the clients and agents on the other side of our transactions. Then there's Monica, she's my better half, and we're the ones that formed the team together. She's been doing :k1: short sales for almost seven years now. She does 90-95% of our negotiations. All of our negotiations are in house, and we have a video about that on our website if you want more information. Monica does most of our negotiations, she's a hammer. She gets them done, and she's fantastic. She knows how to keep everybody happy and get things done.…

Information on How a Short Sale can Help With a Loan on Land

Hi, this is Kerri from the Bay Area Short Sale Angels. We are northern California's number one short sale team. Some of you may be wondering if you can do a short sale on land. The answer is yes you can. We have people who have purchased land in the past, with hopes that they were going to develop it in the future. Then the market crashed and all of a sudden there was no money to be had in order to develop the land. Now they sit holding onto this undeveloped land with no hope of being able to put money into it. They continue to pay loan payments on it, and it's just pulling from their pockets every month. Maybe they have a financial hardship, or they’ve lost their job, needed to relocate, or maybe the land payment is causing them to have a financial hardship and they just can't hold…

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.…