Hollister, CA

Homes in Hollister CA – Here are four specific examples of a big bank's negligence causing a loan owner to lose money.

Discover how other sellers successfully executed a short sale to avoid foreclosure by clicking here.

Example #1: Not giving buyers an answer on a short sale within one week. Home buyers don't like to wait three to six months for an answer on a short sale. This fact causes many buyers to shy away from short sales, thereby causing short sales to sell for less.

Lenders should help the loan owners recoup as much money as possible from short sales. To do this, they make the short sale approval process as quick as possible. They could start the property valuation process when the property is put on the market and determine a certain price they would accept. More buyers would be willing to purchase the property because they know they wouldn't have to wait three to six months for an answer on the short sale.

Example #2: Turning down loan mods that amortize at a higher value than what is netted on a short sale or through REO. Let me explain a little better. A lender negotiates a loan mod with a borrower with a new monthly payment of $1000.

The borrower has a stable income and agrees to pay $1000 a month for the next 30 years. $1000 a month for 30 years, at a 6.5% interest rate, will repay a $158,210 mortgage. The servicer turns down the loan mod and forecloses. The house sells for $125,000 as an REO, and the servicer nets $115,000. Did the owner of the loan lose money? I think most people would agree yes. Obviously there are other factors involved, but I think on an actuarial basis they will do better with the loan mod.

Example #3: Not following up on foreclosures properly. I have seen countless examples of servicers hiring an attorney to foreclose on a house. The attorney files the paperwork.

Then the foreclosure case goes into purgatory. Nothing happen for six months, 12 months, 18 months, and even up to two years. I have seen this happen on more than one property. And no, there are not other factors involved. In fact, on two short sales I've handled, the sellers had moved out of the house before the foreclosure was even filed.

Example #4: Not listing REO properties quickly enough. I have witnessed several examples of banks foreclosing on a house and then taking six months to a year to put it up for sale.

An example is a house that was foreclosed on Sept. 9, 2009. It wasn't listed for sale until May 2010. Say what you want, but waiting eight months is pathetic. If the mortgage holder had been a wealthy individual who lived in town, do you think they would have put the home on the market a little sooner?

These are the clearest examples I can think of right now. When you multiply these examples of negligence across hundreds of thousands of defaulted mortgages, you can easily see how this is costing lenders billions of dollars.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at israel@ighomes.com. 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 (831) 636-8858.

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

Thinking about a loan modification?Our Hollister loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail to israel@ighomes.com to request a Free Copy.

Or, click here to request a copy.

Thanks for reading this.~Israel Gonzalez.

Israel is a Real Estate Agent at Beale Properties.

Phone: (831) 636-8858. israel@ighomes.com.

View My homes for sale at www.bestREOhomes.com.

Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.

Important Notice

Israel Gonzalez, Beale Properties, 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 Gonzalez's personal views and do not reflect the views of Beale Properties.

This information on "Homes in Hollister, CA: Four Specific Examples of Big Bank Negligence" is provided as a courtesy to our readers to help them make informed decisions.

Homes in Hollister CA – Here's a shocking fact most of the American public doesn't know: most mortgages aren't owned by banks.

Discover how other sellers successfully executed a short sale to avoid foreclosure by clicking here.

In addition, most of the huge losses on bad mortgages were not lost by the banks themselves. Instead, the biggest loser was Uncle Sam, through the takeover of Fannie Mae and Freddie Mac.

Most mortgages are sold after they're made. We estimate that around 75-80% of all mortgages were sold before the housing crisis.

This means the large lenders didn't take the hit on the bad mortgages they originated. Instead, Uncle Sam often took the hit. Other large buyers of mortgages were pension funds and retirement funds. Do you think the average American was fleeced by Wall Street?

But here is something even more appalling. It appears they're still being fleeced by the big banks. You see, those were sold to Uncle Sam or a pension fund. However, in many cases those mortgages are still being handled by the original entity that made the bad loan. They're required to act in the loan owner's best interest. But in many cases the lenders are not doing a good job of trying to maximize the return on defaulted mortgages.

Remember in a previous blog post I talked about the lender charging a 1% fee to the home buyer on a short sale? That fee only reduced what the loan owner was able to get for the bad mortgage.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at israel@ighomes.com. 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 (831) 636-8858.

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

Thinking about a loan modification?Our Hollister loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail to israel@ighomes.com to request a Free Copy.

Or, click here to request a copy.

Thanks for reading this.~Israel Gonzalez.

Israel is a Real Estate Agent at Beale Properties.

Phone: (831) 636-8858. israel@ighomes.com.

View My homes for sale at www.bestREOhomes.com.

Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.

Important Notice

Israel Gonzalez, Beale Properties, 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 Gonzalez's personal views and do not reflect the views of Beale Properties.

This information on "What the Big Banks Don't Want You to Know about Hollister Short Sales" is provided as a courtesy to our readers to help them make informed decisions.

Some current Inventory numbers for week 6 in the Hollister area... once again, it's our interpretation of what the market is really doing and where it's heading.

More Real Estate and Less Hype

• 32 Single family homes currently listed as bank owned
• 119 Single family homes currently listed as short sales
• 52 Single family homes are currently overpriced
• 53 Single family homes sold in the past 90 days
• 147 Single family homes in escrow (91 short sales)
• 243 Single family homes listed for sale
• 214 Total homes in foreclosure
• $238,000 Median sale price for single family homes in past 90 days

Homes in Hollister CA – Sometimes it seems like short sales are tough. "Don't try to short sale your house. Short sales never go through," people tell you.

Discover how other sellers successfully executed a short sale to avoid foreclosure by clicking here.

This isn't true. Here is how one agent beat the odds and succeeded with a short sale. A member of the Stop Foreclosure Institute told me about a short sale he recently worked on. Here is the story from the member.

"I had a short sale with a large national lender. The loan was owned by Fannie Mae, not the lender. We had an overzealous short sale negotiator. We had the home on the market for several months and finally received an offer for $180,000. We submitted that to the lender with all the short sale paperwork.

"The lender came back and said the price needed to be raised to $257,000 and the seller needed to sign a $50,000 promissory note. Neither the buyer nor the seller would agree to those terms. At that point, the only alternative was to let the property go to foreclosure.

But I knew the home would sell for even less than $180,000 and the homeowner would suffer from a foreclosure on his record. So I did something about it. First, I knew the $180,000 was a good offer that reflected the Fair Market Value of the property. I also knew Fannie Mae didn’t normally ask for promissory notes. In fact, Fannie Mae’s policy is to erase the debt when the property is a primary residence. (This home was a primary residence.) Here’s what happened.

"I went over the short sale negotiator's head. I contacted Fannie Mae direct and held a three-way call with the seller. We found out the lender had lied. They had never even submitted the offer to Fannie Mae! They had told us what they thought Fannie Mae should ask for.

After I spoke to supervisors in Fannie Mae, I was then called by three different reps for Fannie Mae. Within 72 hours a supervisor from the lender called up and gave me the net, which was $162,000. This was well within the acceptable price of the offer of $187,000 offer. The problem was that the buyers were so angry for having to wait 53 days on a 45-day allowance that they walked. However, I met another buyer and we sold the house to him.

"The bottom line is the short sale negotiator lied and got busted lying. I had to send in comparables and beg the BPO agent to get the inside scoop."

As you can see, some agents are making things happen with short sales. This agent did an awesome job. He thought of calling Fannie Mae direct on his own. Not taking no for an answer helps you to be successful on a short sale.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at israel@ighomes.com. 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 (831) 636-8858.

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

Thinking about a loan modification?Our Hollister loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail to israel@ighomes.com to request a Free Copy.

Or, click here to request a copy.

Thanks for reading this.~Israel Gonzalez.

Israel is a Real Estate Agent at Beale Properties.

Phone: (831) 636-8858. israel@ighomes.com.

View My homes for sale at www.bestREOhomes.com.

Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.

Important Notice

Israel Gonzalez, Beale Properties, 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 Gonzalez's personal views and do not reflect the views of Beale Properties.

This information on "Homes in Hollister CA: How One Agent Overcame the Odds" is provided as a courtesy to our readers to help them make informed decisions.

Some current Inventory numbers for week 5 in the Hollister area... once again, it's our interpretation of what the market is really doing and where it's heading.

More Real Estate and Less Hype

• 34 Single family homes currently listed as bank owned
• 122 Single family homes currently listed as short sales
• 56 Single family homes are currently overpriced
• 51 Single family homes sold in the past 90 days
• 144 Single family homes in escrow (91 short sales)
• 246 Single family homes listed for sale
• 226 Total homes in foreclosure
• $240,000 Median sale price for single family homes in past 90 days