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Folsom El Dorado Hills CA – What can you do if you are facing a foreclosure? One of the scariest and worse case scenarios for a homeowner is getting so far behind in your payments that foreclosure is leering around the corner. You feel as though you have let everyone, yourself included, down. You feel embarrassed, even if you aren’t actually holding the papers yet. So now what?

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here are a few tips to help you out:

1.) First off if you’ve been getting letters “threatening “ foreclosure you need to step up and take action. Ignoring them until you actually get the foreclosure papers sent to you will not make it go away.

2.) It’s time to sit down and figure out how far behind you are and if it is truly realistic to catch up your payments. You have to be real and honest with yourself about your situation and figure out a realistic budget to work with. Thinking that “oh I can do this, I just have to cut out my $5 latte every morning and make up the money” is not a realistic option that will get you out of the situation. Be realistic and figure out exactly how much you can budget each month for the necessities and the small extras. If you haven’t noticed, this entire step has used the word “realistic” and that’s the exact word you have to keep in mind.

3.) You have to realize and keep in mind that, in all honesty, the last thing your lender probably wants is to own your home. They are in the money business, not the home owning business. If they are forced to take over the home they’re also faced with everything a “homeowner” is faced with; such as all of the maintenance, upkeep, heating bills, air conditioning bills, all of the utility bills and more. This comes down to one thing, they really don’t want to take your home and would probably much rather work with you to make realistic arrangements in helping you keep your home.

4.) Do not avoid your lender. Call them and start to see what can be done to stop the foreclosure. Once the actual foreclosure begins it’s very hard to stop it; so you want to make sure you contact them immediately. If you reach a person that you simply cannot deal with and takes the approach of scare tactics and put downs, then immediately request to speak to their superior. You deserve to be treated with respect throughout the entire process and demand such.

Once you start talking to the financial agent you may find they have many options in place to help you. You are not the first person they’ve had who was in the position of possible foreclosure and you won’t be the last. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at 3hayes@sbcglobal.net. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-306-3316

Thanks for reading this, John J Hayes.

John J is a Real Estate Agent at RE/MAX Gold.

Phone: 530-306-3316. 3hayes@sbcglobal.net.

"Hard Work and Dedication"

View My homes for sale at www.johnhayesrealestate.com/home-search.

John Hayes specializes in loan modification assistance and short sales in El Dorado Hills California. El Dorado Hills Loan Modification Help, El Dorado Hills Short Sales. El Dorado Hills Short Sale Realtor. Sacramento CA Loan Modification Help, Sacramento CA Short Sales. Sacramento CA Short Sale Realtor. Folsom CA Loan Modification Help, Folsom CA Short Sales. Folsom CA Short Sale Realtor. El Dorado Hills CA Short Sales. El Dorado Hills Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

John J Hayes, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are John J's personal views and do not reflect the views of RE/MAX Gold.

This information on El Dorado Hills Short Sales: Are you facing Foreclosure? is provided as a courtesy to our viewers to help them make informed decisions.

El Dorado Hills Short Sale Question: Lender Won’t Approve The Short Sale. What Should I Do?

El Dorado Hills CA – The Stop Foreclosure Institute recently received a question from another agent named Sylvia. Here was her question.

“Here's a question for you. I have a short sale with two offers. The appraisal was close to the sales price and the inspection was good.

However, the bank calls me and says, “Sorry, you can’t short sale the house because this is a recourse loan for 5 years.” I did some research and the loan is owned by Fannie Mae.

The sellers received foreclosure papers a week later. Fannie May says that the lender can approve the short sale. But, the lender says they can’t without Fannie Mae’s permission.

Needless to say, I am confused. Any thoughts on how this could have a happy ending? Sylvia.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to Sylvia’s Question. Sylvia, That is so frustrating! I think someone at GMAC is being an idiot. I’ve never heard of anything like this happening.

You are being lied to. Call the lender’s short sale phone number and ask to speak to a supervisor.

Then, ask them: “Are you someone who can speak with authority and actually knows what they’re talking about when it comes to Fannie Mae Short Sale Guidelines?”

If that person can’t speak with authority, then ask for the manager of the loss mitigation department. Tell that person the situation and ask them what is going on. That should solve the problem.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at 3hayes@sbcglobal.net. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-306-3316

Thanks for reading this, John J Hayes.

John J is a Real Estate Agent at RE/MAX Gold.

Phone: 530-306-3316. 3hayes@sbcglobal.net.

"Hard Work and Dedication"

View My homes for sale at www.johnhayesrealestate.com/home-search.

John Hayes specializes in loan modification assistance and short sales in El Dorado Hills California. El Dorado Hills Loan Modification Help, El Dorado Hills Short Sales. El Dorado Hills Short Sale Realtor. Sacramento CA Loan Modification Help, Sacramento CA Short Sales. Sacramento CA Short Sale Realtor. Folsom CA Loan Modification Help, Folsom CA Short Sales. Folsom CA Short Sale Realtor. El Dorado Hills CA Short Sales. El Dorado Hills Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

John J Hayes, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are John J's personal views and do not reflect the views of RE/MAX Gold.

This information on El Dorado Hills Short Sale Question: Lender Won’t Approve The Short Sale. What Should I Do? is provided as a courtesy to our viewers to help them make informed decisions.

El Dorado Hills CA – If you are thinking of short selling your house, then you have probably about forensic loan audits. Some claim they are wonderful. "Your lender will approve your short sale right away", one so called expert claimed.

"Your lender is more likely to give you a loan modification after you discover they broke the law. And most loans were illegal during the crazy lending period we experienced recently", claims another.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Even more insane is the guy who claims, "Lenders will jump over themselves to approve your short sale flip offer." I didn't know if any of this stuff was true.

But, I did hear a story where a lender didn't care about the forensic loan audit. An agent I know was working with a woman who was trying to sell 3 houses.

He knew they were short sales and was glad to list them for sale. There was a guy involved who was supposed to be doing all the "negotiating" with the lender.

Little did this agent know this guy was trying to flip the houses. (Buy for X and resell for $10,000 more.) This guy had someone do a forensic loan audit.

He did this in an attempt to force the lender to approve the short sale. The only problem was the lender didn't care. The negotiators at the lender were not going to approve the short sale flip offer.

"We know this guy is trying to flip the house. We won't approve the short sale as long as he is doing that", they said.

This was despite the forensic loan audit that some claim will have lenders trip over themselves to approve the short sale. It appears they aren’t as eager as some people would have you believe. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at 3hayes@sbcglobal.net. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-306-3316

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thanks for reading this, John J Hayes.

John J is a Real Estate Agent at RE/MAX Gold.

Phone: 530-306-3316. 3hayes@sbcglobal.net.

"Hard Work and Dedication"

View My homes for sale at www.johnhayesrealestate.com/home-search.

John Hayes specializes in loan modification assistance and short sales in El Dorado Hills California. El Dorado Hills Loan Modification Help, El Dorado Hills Short Sales. El Dorado Hills Short Sale Realtor. Sacramento CA Loan Modification Help, Sacramento CA Short Sales. Sacramento CA Short Sale Realtor. El Dorado Hills CA Short Sales. El Dorado Hills Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

John J Hayes, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are John J's personal views and do not reflect the views of RE/MAX Gold.

This information on El Dorado Hills Short Sales: Forensic Audits Exposed is provided as a courtesy to our viewers to help them make informed decisions.

FHA Loans - Higher Costs & Tougher Standards are Coming Soon: An FHA Loan is insured by the federal government, guaranteeing its payment in case of default by the borrower. FHA Loans, due to their low down payment requirements and other relaxed guidelines have become popular the past couple of years. It was recently discovered that the Federal Housing Authority's reserves had dropped below their required limits and their solvency may be in jeopardy. In response to this peril, HUD Secretary Shaun Donovan made it clear last week that buyers using FHA backed loans will be facing increased costs and tougher credit standards in early 2010. How will this affect you? Although the changes have not taken place yet, here is what's coming soon: 1) An increase in the minimum down payment. Currently home buyers can buy a home with a down payment of only 3.50% of the purchase price. Congressional critics want to see the minimum down payment increased to at least 5%. 2) Seller concessions" to be cut in half -- from the current 6% down to 3% of the loan amount -- and maybe even lower. 3) Higher "Mortgage Insurance Premiums." The FHA currently charges what it calls an "Upfront Mortgage Insurance premium" of 1.75% of the loan amount in order to get the loan. That could go a lot higher, maybe even to 3%. 4) An increase in the "annual" Mortgage Insurance Premium charged by the FHA, which gets tacked onto borrowers' monthly payments. Currently that premium is set at 0.55% of the loan amount, but Donovan is asking Congress to raise it. Bottom Line: Sometime early in 2010, it's going to get pricier and tougher to get financing through FHA. If you are planning on buying a home with an FHA backed loan, call me today to find your next home and get your loan application in sooner rather than later.

The Ongoing, Short Sale Conundrum: As we near the end of 2009, the enigma of the real estate market has gone from "foreclosures" to "short sales." Entering December, the inventory of available homes continued to be dominated by short sale listings. In Folsom, 108 of 243 homes (44%) were short sale listings, in EDH, 139 of 311 homes (45%) were short sale listings and in Sacramento County, 3,570 of 5,682 homes (63%) were short sales. The Problem: The banks are approving the short sales at a snails pace, rarely allowing more than 10% of the short sale listing inventory to close escrow in any given month. Interestingly, the majority of the short sale listings on the MLS have in fact already had a buyer and the seller agree to a sale. However, since the banks have to approve the deal for it to become binding, the short sale listings remain in "Active" status on the MLS, instead of being changed to "Pending," (where the home buying public would no longer see them). Because they remain "Active," home buyer perceptions are that inventories are plentiful, prices are cheap and time is not of the essence. The Reaction: Buyers make offer after offer on short sales because they have the lowest asking prices (who doesn't want a deal?). Then they sit and wait, and wait, and hope that the banks will one day approve the short sale. In the meantime, the banks slowness continues to confuse and frustrate home buyers and exponentially increase the work of all those involved in the process. The Reality: Home inventories are at their lowest levels since May of 2005 in both Folsom and El Dorado Hills. When the market does turn (and it will), unless inventories rise, both the eyes and pocket books of home buyers will be rudely opened. All it will take is the banks approving all the contingent short sales and allowing them to sell. It would instantly halve the inventories of homes, put a bottom in prices, and create a "sellers market" across most of the country...

November Housing Real Estate Statistics in Folsom, CA: The average sales price in November was $386,000 and tha average dollars per square foot was $178. There were 60 sales, 12 were bank owned homes, 12 were short sales. In all, entering December, there are 243 homes for sale, 22 are bank owned homes, 108 are active short sale listings and there is a 4 months supply of home inventory.

If you are looking for a Realtor with nearly 20 years in the business who focuses on your needs while getting you the best deal possible, click on my picture below and visit my website. It never hurts to take a look! Happy Holidays everyone!

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