short sale specialist | Bay Area Short Sale Angels | Monclair | Piedmont

Great News!!

Hi, this is Kerri from the Bay Area Short Sale Angels, :k1:'s number one short sale team. I am here with some great news. The numbers are in and last year we were able to successfully help 44 families, individuals, people avoid foreclosure. I feel like that's a huge success. Our team is on track to double or triple that number this year. You guys can help me with that of course. In addition to that, I'm sure that I met and consulted with another 20 to 30 people who decided that loan modification was the right avenue for them in order to avoid foreclosure. They also decided on a different route such as bankruptcy. So the numbers are actually higher than 44, people, families, or individuals that we helped avoid foreclosure last year. As far as what's on the books and the numbers that we have gotten for our year end totals,…

How Do You Find Out if Your House Will be Foreclosed on?

Hi, this is Kerri from the Bay Area Short Sale Angels. We are :k1:'s number one short sale team. So how do we find out if your house is going to be foreclosed on? Well if you're the owner, hopefully your bank sent you something in the mail. So for those of you who have stopped reading your mail because it's too depressing, you might want to go back through it and see if you've received something called a notice of default. From the time of the notice of default, you usually have 90 days until the house is foreclosed on. If you're a tenant, it is public record so you can go down to the county and find out, or you can find a real estate agent that you know and trust and hopefully they have a subscription to a website called foreclosureradar.com. You can actually get a subscription yourself. ForeclosureRadar takes…

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…

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…

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…

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…

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…

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,…