Q&A | Bay Area Short Sale Angels | Hayward | San Fransisco

Keep Your House As Is During A Short Sale

Hi, this is Kerri from the Bay Area Short Sale Angels, :k1:'s number one short sale team. A lot of homeowners going through short sales have heard of people that are in foreclosure that end up selling all of their appliances and stripping the fixtures. These homeowners frequently ask us if this is something they can do. The simple answer to this question is no, you can't strip the fixtures and sell all of the appliances. There is a person that's going to purchase the home in as good condition as you've been keeping it. Leave the home how you would want to find it if you are the buyer. They are actually your saving grace and without them there would be no short sale, so you want to be able to turnover a home that they can be proud of. Some people do elect to sell their appliances, but you have to…

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…

How Close To The Trustee Sale Date Can You Initiate The Short Sale Process?

Hi, this is Kerri from the Bay Area Short Sale Angels, :k1:'s number one short sale team. A lot of people have asked me how close to the trustee sale date can you initiate the short sale process. The trustee sale date is known as the foreclosure sale date. There's not an easy answer to that, it really depends on the bank that is servicing your loan. For the most part, as a general rule, we need at least ten days. Ten days prior to the trustee sale date to initiate that short sale and have a chance of getting it into the system and being able to get an extension on that short sale date. By no means does that mean hang out and live in your house until ten days before and then say you would like a short sale. Give your agent as much time as possible before that trustee…

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…

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…

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…

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…