OC Realty Blog http://ocrealtyblog.com Harmon Homes Realty Group Tue, 21 Feb 2012 22:14:14 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Which Buyer’s Offer Should I Accept? http://ocrealtyblog.com/2012/02/21/which-buyers-offer-should-i-accept/ http://ocrealtyblog.com/2012/02/21/which-buyers-offer-should-i-accept/#comments Tue, 21 Feb 2012 22:14:14 +0000 JoJo http://ocrealtyblog.com/?p=1122 Continue reading →]]>
The Stop Foreclosure Institute recently received a question from Beckie. Here was her question.

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

“I need your help. I am trying to short sale my house. My lender is one of the largest in the country. We have been waiting for an answer on the short sale for six months now.

I finally received an answer last week in form of a counter offer to the price. The buyers had agreed to pay $315,000. However, my lender wanted $345,000. The buyer is not willing to offer any more money.

My realtor said he will try his best to negotiate at that price. Before I could send the comps to the lender, they ordered an appraisal. My realtor doesn’t think the house is worth any more than the $315,000.

We put the home on the market and received another offer for $341,000. We told the first buyer if he paid $345,000, then we would sell to him. He didn’t budge. So we accepted the higher offer.

In the meantime, our lender approved the original buyer’s offer at $315,000. That causes my dilemma. The bank’s representative suggested that we not submit the higher offer so as not to rock the boat.

Do we sell to the original buyer who has been waiting to buy the home for several months or sell to the new buyer paying the higher price? Beckie.”

Here was our answer to Beckie’s Question. I don’t personally think that you are morally required to submit the higher offer to BOA.

But, it will help you reduce the amount you owe to your lender and any potential income taxes owed. 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 jojo@harmonhomesrealty.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 (949) 244-0719

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

Thinking about a loan modification? Our 1 loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, JoJo Harmon.

JoJo is a Real Estate Broker Associate at Realty ONE Group. 1 Short Sales Realtor:

Phone: (949) 244-0719. jojo@harmonhomesrealty.com.

Call Me – I’ll Help You Make the Right Move!

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

JoJo Harmon specializes in loan modification assistance and short sales in Laguna Niguel California. Laguna Niguel Loan Modification Help, Laguna Niguel Short Sales. Laguna Niguel Short Sale Realtor 1 CA Short Sales. 1 Realtor.

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

Important Notice

JoJo Harmon, Realty ONE Group, 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 JoJo’s personal views and do not reflect the views of Realty ONE Group.

This information on 1 Short Sales: Which Buyer’s Offer Should I Accept? is provided as a courtesy to our viewers to help them make informed decisions.

]]> http://ocrealtyblog.com/2012/02/21/which-buyers-offer-should-i-accept/feed/ 0 Why Persistence Is So Important In Success At Short Sales http://ocrealtyblog.com/2012/02/17/why-persistence-is-so-important-in-success-at-short-sales/ http://ocrealtyblog.com/2012/02/17/why-persistence-is-so-important-in-success-at-short-sales/#comments Fri, 17 Feb 2012 21:21:44 +0000 JoJo http://ocrealtyblog.com/?p=1119 Continue reading →]]>
In a recent blog posts, I discussed how banks throw out a short sale file if it is rejected. When an offer comes in on a short sale, it takes 30-60 days for a person at the bank to look at the offer.

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

Then, that person orders an appraisal on the property. After that appraisal comes back, the bank employee reviews the property value and the home seller’s personal financial situation.

Based on that, they approve or deny the short sale offer. They do this to avoid approving short sales when either a homeowner can still afford the house or the house is selling for under the appraised value.

What do they do if the short sale offer is rejected? Well, they tell the buyer to hit the road and close the file. Everything gets thrown out. The appraisal is thrown out. And all the time that employee spent looking at the seller’s finances is thrown out.

So, each buyer has to wait 60-90 days for an answer on their short sale. If that buyer’s offer doesn’t work, then all that paperwork is thrown out and the property is put back on the market.

(Yes, some banks are pre-approving short sales before they come on the market. But, that is the exception, not the rule. Most banks are not pre-approving short sales.)

The home is marketed and then the next buyer has to go thru the process all over again. So, why does this matter to you?

A short sale helps you avoid the bad mark a foreclosure puts on your credit for the rest of your life. On any future loan application you will have to put “yes” next to the question “Have you ever lost a home to foreclosure?”

So even though the foreclosure goes off your credit in 7 years that question stays with you for the rest of your life. That is why most people prefer a short sale.

Your agent is going to have to be persistent in order to give you a better chance at a successful short sale. A competent, experienced short sale realtor that can successfully navigate the system.

They can convince your lender that it is in their best interest to accept the short sale offer. They can also convince them to pre-approve the short sale at a set price.

This gives you a better chance at avoiding foreclosure. 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 jojo@harmonhomesrealty.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 (949) 244-0719

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

Thinking about a loan modification? Our 1 loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, JoJo Harmon.

JoJo is a Real Estate Broker Associate at Realty ONE Group. 1 Short Sales Realtor:

Phone: (949) 244-0719. jojo@harmonhomesrealty.com.

Call Me – I’ll Help You Make the Right Move!

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

JoJo Harmon specializes in loan modification assistance and short sales in Laguna Niguel California. Laguna Niguel Loan Modification Help, Laguna Niguel Short Sales. Laguna Niguel Short Sale Realtor 1 CA Short Sales. 1 Realtor.

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

Important Notice

JoJo Harmon, Realty ONE Group, 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 JoJo’s personal views and do not reflect the views of Realty ONE Group.

This information on 1 Short Sales: Why Persistence Is So Important In Success At Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

]]> http://ocrealtyblog.com/2012/02/17/why-persistence-is-so-important-in-success-at-short-sales/feed/ 0 Some of the Stupid Things Banks Do On Short Sales http://ocrealtyblog.com/2012/02/15/some-of-the-stupid-things-banks-do-on-short-sales/ http://ocrealtyblog.com/2012/02/15/some-of-the-stupid-things-banks-do-on-short-sales/#comments Wed, 15 Feb 2012 22:30:12 +0000 JoJo http://ocrealtyblog.com/?p=1116 Continue reading →]]>
I have something shocking to tell you. Bankers are not as smart as you or I think they are. You know the “perfect banker” that we meet in public.

The person has never missed a payment, never been late, and has always had a bunch of savings in the bank. They sneeringly look down on normal Americans that haven’t saved their money like Scrooge Chuck.

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

Here is the sad truth. Although they think that they are so smart with money, they actually are not. And today I’ll show you one example why.

Let’s look at how 90% of the banks handle the short sale process. When an offer comes in on a short sale, it takes 30-60 days for a person at the bank to look at the offer.

Then, that person orders an appraisal on the property. After that appraisal comes back, the bank employee reviews the property value and the home seller’s personal financial situation.

Based on that, they approve or deny the short sale offer. They do this to avoid approving short sales when either a homeowner can still afford the house or the house is selling to low. Seems like a smart way to do things, right?

Here comes the stupid part. What do they do if the short sale offer is rejected? Well, they tell the buyer to hit the road and close the file. Everything gets thrown out. The appraisal is thrown out. And all the time that employee spent looking at the seller’s finances is thrown out.

Which means that they have to do all of that work again when a new short sale offer comes in. What’s worse is that it causes the banks to lose millions of dollars.

As an example, an agent I know told me about a short sale property he handled. “The first offer for $275,000 was rejected by the bank. Several more offers were rejected over the next year.

The housing market continued to decline. Finally almost 2 years later they accepted an offer for $235,000. Yes, they lost $40,000 because of the flawed short sale process.

That’s a pretty dumb way to handle things, isn’t it? And yet, most bankers sneeringly think they are responsible with money! It’s crazy, isn’t it?

As you can see, the key to a successful short sale and avoiding the mark of a foreclosure on your credit. 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 jojo@harmonhomesrealty.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 (949) 244-0719

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

Thinking about a loan modification? Our 1 loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, JoJo Harmon.

JoJo is a Real Estate Broker Associate at Realty ONE Group. 1 Short Sales Realtor:

Phone: (949) 244-0719. jojo@harmonhomesrealty.com.

Call Me – I’ll Help You Make the Right Move!

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

JoJo Harmon specializes in loan modification assistance and short sales in Laguna Niguel California. Laguna Niguel Loan Modification Help, Laguna Niguel Short Sales. Laguna Niguel Short Sale Realtor 1 CA Short Sales. 1 Realtor.

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

Important Notice

JoJo Harmon, Realty ONE Group, 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 JoJo’s personal views and do not reflect the views of Realty ONE Group.

This information on 1 Short Sales: Some of the Stupid Things Banks Do On Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

]]> http://ocrealtyblog.com/2012/02/15/some-of-the-stupid-things-banks-do-on-short-sales/feed/ 0 OC Metro Minute – Obama Coming to Corona Del Mar 2/16/12 http://ocrealtyblog.com/2012/02/13/oc-metro-minute-obama-coming-to-corona-del-mar-21612/ http://ocrealtyblog.com/2012/02/13/oc-metro-minute-obama-coming-to-corona-del-mar-21612/#comments Mon, 13 Feb 2012 18:30:18 +0000 JoJo http://ocrealtyblog.com/?p=1109

]]> http://ocrealtyblog.com/2012/02/13/oc-metro-minute-obama-coming-to-corona-del-mar-21612/feed/ 0 What To Look For In A Buyer’s Offer http://ocrealtyblog.com/2012/02/11/what-to-look-for-in-a-buyers-offer/ http://ocrealtyblog.com/2012/02/11/what-to-look-for-in-a-buyers-offer/#comments Sat, 11 Feb 2012 23:25:21 +0000 JoJo http://ocrealtyblog.com/?p=1106 Continue reading →]]>
Short sales often get multiple offers from different buyers. Which offer should you accept over the others?

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

Most people would assume that you would automatically pick the offer with the highest price. However, this isn’t always a good idea.

The offer with the highest price may have the shakiest financing. Most short sale lender issue a deadline when they approve a short sale. They state that their approval is only good for 30 days.

After 30 days, then they short sale has to be re-negotiated from scratch. That only causes the process to drag out another 2-6 months. So, you want to make sure the buyer’s offer is strong and that their financing is approved.

In this case, a little lower price might be worth considering versus a higher price with an unqualified buyer. Another thing to consider is repairs. Some short sales need repairs before they can be financed.

Most loan programs are for homes in good condition. If your home needs repairs, then most of the buyers won’t get approved for a loan until those repairs are completed. But, not every buyer has lots of cash on hand to make repairs.

Ask your agent for advice on which offer to accept. The offer with the highest price and best qualifications is the one you should pick. 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 jojo@harmonhomesrealty.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 (949) 244-0719

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

Thinking about a loan modification? Our 1 loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, JoJo Harmon.

JoJo is a Real Estate Broker Associate at Realty ONE Group. 1 Short Sales Realtor:

Phone: (949) 244-0719. jojo@harmonhomesrealty.com.

Call Me – I’ll Help You Make the Right Move!

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

JoJo Harmon specializes in loan modification assistance and short sales in Laguna Niguel California. Laguna Niguel Loan Modification Help, Laguna Niguel Short Sales. Laguna Niguel Short Sale Realtor 1 CA Short Sales. 1 Realtor.

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

Important Notice

JoJo Harmon, Realty ONE Group, 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 JoJo’s personal views and do not reflect the views of Realty ONE Group.

This information on 1 Short Sales: What To Look For In A Buyer’s Offer is provided as a courtesy to our viewers to help them make informed decisions.

]]> http://ocrealtyblog.com/2012/02/11/what-to-look-for-in-a-buyers-offer/feed/ 0 OC Metro Minute – Disneyland Donates $5M to CHOC http://ocrealtyblog.com/2012/02/07/oc-metro-minute-disneyland-donates-5m-to-choc/ http://ocrealtyblog.com/2012/02/07/oc-metro-minute-disneyland-donates-5m-to-choc/#comments Tue, 07 Feb 2012 21:17:18 +0000 JoJo http://ocrealtyblog.com/?p=1103

]]> http://ocrealtyblog.com/2012/02/07/oc-metro-minute-disneyland-donates-5m-to-choc/feed/ 0 Will Banks Issue an Extension on a Short Sale Approval Letter? http://ocrealtyblog.com/2012/02/06/will-banks-issue-an-extension-on-a-short-sale-approval-letter/ http://ocrealtyblog.com/2012/02/06/will-banks-issue-an-extension-on-a-short-sale-approval-letter/#comments Mon, 06 Feb 2012 20:35:41 +0000 JoJo http://ocrealtyblog.com/?p=1100 Continue reading →]]>
1 CA – Under normal circumstances, banks are not required to extend the closing of a short sale. The last thing a buyer would want to hear is that their mortgage lender can’t perform especially after waiting for a number of months to buy a home.

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

For the non-short sale transaction the buyer’s lender has complete control of the entire transaction and decides on the closing date. This is not the case in a short sale. Why not?

With a short sale the short sale bank usually says the short sale approval is only good for 30 days. If the sale doesn’t close before that, then the short sale approval is null and void.

If the buyer’s lender can’t meet that date, the buyer could end up losing out on the opportunity to buy the home. Even worse, the seller loses their opportunity to sell their home and avoid foreclosure.

Sometimes, banks prefer to foreclose if the auction date is at hand. However, some banks under certain circumstances will extend the closing date. A short sale may be extended provided:

* It is not a Fannie Mae short sale in default.

* The bank wants to postpone the auction.

It is always advisable to close on time and not need an extension. Some lenders do not understand that the short sale closing date is not always flexible, and that they should do their best to meet that time frame.

You might have to let them understand this just to try and prevent foreclosure from coming your way. 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 jojo@harmonhomesrealty.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 (949) 244-0719

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

Thinking about a loan modification? Our 1 loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, JoJo Harmon.

JoJo is a Real Estate Broker Associate at Realty ONE Group. 1 Short Sales Realtor:

Phone: (949) 244-0719. jojo@harmonhomesrealty.com.

Call Me – I’ll Help You Make the Right Move!

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

JoJo Harmon specializes in loan modification assistance and short sales in Laguna Niguel California. Laguna Niguel Loan Modification Help, Laguna Niguel Short Sales. Laguna Niguel Short Sale Realtor 1 CA Short Sales. 1 Realtor.

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

Important Notice

JoJo Harmon, Realty ONE Group, 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 JoJo’s personal views and do not reflect the views of Realty ONE Group.

This information on 1 Short Sales: Will Banks Issue an Extension on a Short Sale Approval Letter? is provided as a courtesy to our viewers to help them make informed decisions.

]]> http://ocrealtyblog.com/2012/02/06/will-banks-issue-an-extension-on-a-short-sale-approval-letter/feed/ 0 OC Metro Minute – Facebook IPO = $5 Billion http://ocrealtyblog.com/2012/02/02/oc-metro-minute-facebook-ipo-5-billion/ http://ocrealtyblog.com/2012/02/02/oc-metro-minute-facebook-ipo-5-billion/#comments Thu, 02 Feb 2012 21:59:58 +0000 JoJo http://ocrealtyblog.com/?p=1097

]]> http://ocrealtyblog.com/2012/02/02/oc-metro-minute-facebook-ipo-5-billion/feed/ 0 WIN a 2012 Ford Fiesta – Tickets Only $10 http://ocrealtyblog.com/2012/02/01/win-a-2012-ford-fiesta-tickets-only-10/ http://ocrealtyblog.com/2012/02/01/win-a-2012-ford-fiesta-tickets-only-10/#comments Wed, 01 Feb 2012 23:19:46 +0000 JoJo http://ocrealtyblog.com/?p=1091 Continue reading →]]>

I just recently joined the American Legion Auxiliary to honor BOTH my father and mother’s service in WWII.  The biggest fund raiser we have is this car raffle.

Tickets are only $10, so please contact me if you want a ticket.

Final sale date is Feb. 10th, as the drawing is Feb. 11th.  Winner need not be present.

JoJo Harmon (949) 244.0719 (or) email jojoh@realtyoneca.com

 

]]> http://ocrealtyblog.com/2012/02/01/win-a-2012-ford-fiesta-tickets-only-10/feed/ 0 Good News On Bank of America Short Sales http://ocrealtyblog.com/2012/01/30/good-news-on-bank-of-america-short-sales/ http://ocrealtyblog.com/2012/01/30/good-news-on-bank-of-america-short-sales/#comments Mon, 30 Jan 2012 19:16:30 +0000 JoJo http://ocrealtyblog.com/?p=1088 Continue reading →]]>
Bank of America is rolling out a new short sale program that will provide the quickest route to a short sale decision.

The bank came up with this programs to help ensure that homeowners are able to explore all their options and avoid foreclosure.

This program, named the Bank of America Cooperative Short Sale Program, minimizes the challenges of traditional short sales – such as having to wait up to 60 days for a representative to even be assigned to your sale.

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

A cooperative short sale starts with a phone call from the homeowner to the bank. The homeowner explains to the bank that he or she has suffered a hardship, and will no longer be able to make the mortgage payments.

The Banker and the homeowner will probably discuss a loan modification. In fact, this may be a pre-requisite to entering into a cooperative short sale.

Once the bank has determined that a loan modification is not a viable option, and after documents have been presented to the bank that show the home owner’s hardship, then the bank is not left with any good options than the cooperative short sale.

The next step in the process is for the Bank to order an appraisal. The property is then listed with a Realtor at the appraised value of the house, and the Bank agrees to sell the property at the appraised price.

Buyers can get an answer on their offers within only a day or two, not the 3-6 months a traditional short sale takes. This is because the short sale is pre-approved.

The Bank also understands that the appraisal may have come in high, and if the property doesn’t sell in 21 days, the price gets lowered every 21 days until an offer comes in.

We think this is a great new program that will make short sales much easier for everyone involved. 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 jojo@harmonhomesrealty.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 (949) 244-0719

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

Thinking about a loan modification? Our 1 loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, JoJo Harmon.

JoJo is a Real Estate Broker Associate at Realty ONE Group. 1 Short Sales Realtor:

Phone: (949) 244-0719. jojo@harmonhomesrealty.com.

Call Me – I’ll Help You Make the Right Move!

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

JoJo Harmon specializes in loan modification assistance and short sales in Laguna Niguel California. Laguna Niguel Loan Modification Help, Laguna Niguel Short Sales. Laguna Niguel Short Sale Realtor 1 CA Short Sales. 1 Realtor.

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

Important Notice

JoJo Harmon, Realty ONE Group, 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 JoJo’s personal views and do not reflect the views of Realty ONE Group.

This information on 1 Short Sales: Good News On Bank of America Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

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