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El Dorado Hills CA – If you are considering buying a short sale, then you should know what you are getting involved with.

First off congratulations! Buying a short sale is a great decision. Most short sales usually sell for 3-5% less than other comparable homes.

So you get the advantage of getting a good deal. Now, I am sure you are asking, “Why are short sales a bargain?”

The reason is that a short sale takes longer than a normal real estate sale. You have to wait 30-60 days for the seller’s bank to approve your offer.

In addition, some agents do not understand short sales. They talk bad about them even though they have not educated themselves on how they work.

Here are a few things you should educate yourself on before making an offer on a short sale.

How experienced at short sales is the seller’s agent? If the seller’s agent has little short sale experience, then you should probably look at another house.

How many liens does the seller have? If the seller has three or more mortgages and/or liens, then you should pass. It’s hard to make a short sale work in these situations.

Remember the Aesop’s Fable about the monkeys with their hands in the jar? Well, all three lienholder’s hands are in the cookie jar. But, none will put down any cookies so they can pull their hand out.

The bottom line: One or two mortgages and/or liens is ok. Three or more is not.

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 What You Should Know Before Buying A El Dorado Hills Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Sacramento CA - The Stop Foreclosure Institute recently received a question from James. “My loan was just sold. I was making payments to CitiFinancial and they sold it to Nationstar. Is that good or bad?” James asked.

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

Here is the answer. It’s neither good nor bad. In fact, I don’t think your loan was sold. You see, most loans were packaged up and sold to Fannie Mae, Freddie Mac, or Wall Street.

James’s loan was more than likely packaged up and sold off. I asked him who his original lender was. He said it was a company called First Magnus. (First Magnus declared bankruptcy in 2007 and was afterwards closed.)

The Stop Foreclosure Institute has negotiated short sales on loans that were originally with First Magnus. The last one was sold to a large Wall Street Firm and securitized.

That means James’s loan could be owned by anyone. More than likely it is owned by Fannie Mae or Freddie Mac. If not, then it was probably sold to a Wall Street Firm.

The owner of the loan hired CitiFinancial to act as their front man. That means Citi collected the payments, handled escrows and accounting, and manages debt collections and foreclosures.

More than likely Nationstar did not buy the loan. Instead whoever owns the loan hired them to act as the front man instead of Citi.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. 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. If you prefer, then 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.

Thinking about a loan modification? Our Sacramento Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

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.

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

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. 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. The views expressed here are John J Hayes's personal views and do not reflect the views of RE/MAX Gold. This information on Question from homeowner: My lender just sold my loan. Is that a good thing is provided as a courtesy to our viewers to help them make informed decisions.

Latest News and Topics of Interest: The rapid decline in long-term interest rates continued in December. Due to continuing actions by the Federal Reserve board, according to FreddieMac.com, the average cost of a 30 yr. fixed mortgage in the Western U.S. has dropped from 6.47% on 11/1/08 to 5.60% on 12/1/08 to 5.01% on 1/1/09. "Word on the street" is still suggesting 30 yr. mortgages at 4.50%, or less, soon. On the horizon: Expect Obama's stimulus package to include a provision, empowering bankruptcy judges with the ability to alter home loans in an effort to prevent foreclosures. The purpose of this is to get lenders to further engage in loan modifications and short sales, or the courts will do it for them.

National & Regional Snap-shot: What a difference a year makes: 1,872 homes sold in Sacramento County last month, a 219% increase in home sales when compared to December 2007. Of the 1,872 sales, 1,371 were bank owned (73%), 197 were short sales (10%) and the median home price rose 10% from $181k in November to $199k in December. 83% of the county's home sales were "distressed," making stiff competition and low odds of success for the average home seller.

Folsom: Folsom closed out 2008 with 50 home sales in December, including 21 foreclosure and 7 short sales. The inventory of homes available dropped to a low for the year to 239 homes. December had the highest percentage of distressed home sales for the year at 56%. The average home sales price dropped to $388,718, a 20% decline from the December, 2007 average. The average dollars per square foot fell to $189, a 13% drop from December, 2007.

Aaron's take on the markets: Reflecting on 2008, we saw a big drop in the stock market, employment, investor morale, consumer confidence and home prices. All of these factors helped the bottom fall out of the housing market in 2008, to the tune of a 20%+ decline in home values. Time is needed for all the government stimulus and falling interest rates to do their job, but when they do, the credit markets will loosen and home buyer confidence will rise. Although I do not see runaway appreciation returning, I do think we'll see prices stabilize in 2009. Considering falling interest rates, the tax benefits and possible appreciation, if you can find a home you love, and plan to stay 3+ years, early 2009 could be a great time to buy.

Personal note: I had the opportunity to see many of you over the holidays and I enjoyed the time. With the new year upon us, opportunity is abound and my nose is back to the grind-stone. If you ever want to chat, please give me a call.