Mother & Daughter Blog

Nice Big House! Bank Owned Check out more on: www.motheranddaughterrealtyteam.com

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C O M I N G S O O N !

Weston Ranch Home for Sale

3918 Crestmore Court

Stockton, CA 95206

• WEBSITE: http://www.motheranddaughterrealtyteam.com •
• Want to purchase a REO property? Want to know what properties I have to sell? •
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide •
• For a FREE MARKET EVALUATION of your home •
• Need a Short Sale Specialist?

Take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties. Our aggressive marketing plan includes on-line listing advertising.

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C O M I N G   S O O N !

WEBSITE: http://www.motheranddaughterrealtyteam.com

• • Want to purchase a REO property? Want to know what properties I have to sell?
• • Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide
• • For a FREE MARKET EVALUATION of your home
• • Need a Short Sale Specialist?

Take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties. Our aggressive marketing plan includes on-line listing advertising.

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If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin, Alameda, Contra Costa and Stanislaus Counties - includes Stockton, Manteca, Tracy, Lathrop., Salida, Ripon, Modesto, Lodi, Hayward, Castro Valley, Union City, Fremont, Newark, Livermore, Pleasanton, Dublin and all surrounding cities). Call us at 866-750-8282 or email at US.

OK... I think I have it now!  What must be the easiest job going right now is customer service at the banks.  When you call the banks for questions on the short sale process or what the status of your short sale process you get the "strip" read to you and without phase or thought.

You get asked...

• What is the loan number
• What is the priminary borrower's social
• What is borrower's name
• Who you are?
• What company do you work for
• What is the property address
• What is the borrower's phone number

And "what can you help you with"?  --- and why they ask that question is still a mystery to me.  They hardly ever can really help you.  They can't even transfer you properly to the negotiator or someone that can actually make a decision.  They are all reading for an outdated, none related strip and no matter what programs, plans or discussion or bail outs... they are not changing their tune.

WEBSITE: http://www.motheranddaughterrealtyteam.com

• Want to purchase a REO property? Want to know what properties I have to sell?
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide 
• For a FREE MARKET EVALUATION of your home  
• Need a Short Sale Specialist?   

Take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our aggressive marketing plan includes on-line listing advertising. 

 For more information... Check out our Website and our Blog...

•    -    Website:  http://www.motheranddaughterrealtyteam.com
•   -    Blog:  http://activerain.com/brooksrm2042
•    -     Check me out on Facebook

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If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin, Alameda, Contra Costa and Stanislaus Counties - includes Stockton, Manteca, Tracy, Lathrop., Salida, Ripon, Modesto, Lodi, Hayward, Castro Valley, Union City, Fremont, Newark, Livermore, Pleasanton, Dublin and all surrounding cities).  Call us at 866-750-8282 or email at US.

The big buzz word nowadays is "loan modification".  When we talk to someone we tell them to go to their lender and ask for a loan modification.  But really what are we doing to that homeowner? Are we giving them false hope?  Are we setting them up for a deeper downfall into the "under water hole"? 

Some homeowners have been going round and round with their lender trying to get their loan modified.  They have had to submit and re-submit their paperwork and still no loan modification in sight.  Of course, some would say they are getting a "free" place to stay while all this is going on --- or in this case not going on.  But none will face there is so much stress associated with this maze of "being underwater".

More red tape--

• What are the qualifications to get a loan modification?  Does anyone really know?
• What are the rules the banks must follow in order to do a modification? Does anyone really know?
• What are the banks standard process for short sales? Does anyone really know?
• What is the "standard" time line for short sale approval? Does anyone really know?
• Where are the banks being held accountable for this mess? Does anyone really know? or care?

Where are we now?  The slush is so thick.... its estimated that 1 out 5 homeowners are facing foreclosure or for now are just "under water".  What's the difference?

 WEBSITE:   http://www.motheranddaughterrealtyteam.com  For more information... Check out our Website and our Blog...

• Want to purchase a REO property? Want to know what properties I have to sell?
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide 
• For a FREE MARKET EVALUATION of your home  
• Need a Short Sale Specialist?   

 

•    -    Website:  http://www.motheranddaughterrealtyteam.com
•   -     Blog:  http://activerain.com/brooksrm2042
•    -     Check me out on Facebook 

 

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If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin, Alameda, Contra Costa and Stanislaus Counties - includes Stockton, Manteca, Tracy, Lathrop., Salida, Ripon, Modesto, Lodi, Hayward, Castro Valley, Union City, Fremont, Newark, Livermore, Pleasanton, Dublin and all surrounding cities).  Call us at 866-750-8282 or email at US.

Have you noticed that the banks are getting down to the nickle and dimes by countering back for small amounts and standing firm when they should accept the offer and move on to escrow?

Why is that?

Why is it that the bank know from the start they listed a little higher than what the property is really comping out to, but then they get real hard nose when it is a "close bid" they will not give in.  I have had them lose the sale, a quick sale and it is only $5000 difference.  Then the sit on the market and collect days and then sale for $20,000 below the lowest offer they received less than a month ago!  I don't get it.

If you get it, please let me know!!!... signed me - standing here scratching my head!

You know it is too early this Monday morning to get this kind of information. This is definitely my rant for the day!

I have been calling GMAC in an effort to get a short sale request approved.  The sales date is today... and yet this was the first time I have been able to speak with a "negotiator" about the request.  All the other double digit times I have called, I have only been able to speak to the rep that answers the phone and reads the call history report to me.  So anyways....

I call this morning and since the sale is set for later today... They spoke to me.  The MISS Annoying... told me flat out unless the buyer get us at least 1 month of mortgage in today, they will not postpond the sale in order to continue the review of the short sale request!  Now this one is new to me. 

I explained to her, the borrower is in a hardship... he does not have money laying around to go out and wire to GMAC when he is loosing both his homes and have not been making any payments for months now -- isn't it clear that he is in hardship and cannot make a payment?  And when did this process change start?  She was not hearing me.  She just kept on reciting her speech and then said if there is nothing the borrower can do about getting them a payment in -- within the next couple of hours --- the sale will go on as scheduled.

The one question I had and still is.... so where is the proof that banks are even trying to help the borrowers out of the situation they are in? Especially when it comes to short sale request.  Why wasn't that put into the process that the borrowers would have to make a payment when they say make one???

GMAC sucks! Plain and simple.

 

I have noticed the very first viewers that will show up at the property --- before it is cleaned up and listed - are the:

1. Looky-loos (not serious buyers but will waste a lot of your time)  -- I tell them I am not just cleaning it up and it is not listed and they still want to go inside and see it!! These are usually people that are either related to or know the previous owners and want to have something to talk about -- so they come over and see how the property was trashed!!!
2. Unqualified buyers (you won't know that they're unqualified until too late) - these are the people that are shopping (window shoppers... they don't even know if they qualify to buy a property of any price -- but they are out with their list of properties and will ask you more questions that the qualified ask!
3. Bargain hunters (investors who offer you low-ball prices) - trying to come see the property when it is not cleaned up or rehab so they can get the best price -- the lowest price.  They are usually good at assessing the properties to see how they do the least amount of work to it to get it rented out.
4. Wheeler-dealers (people who want YOU to carry their loan or other creative techniques)  - again, usually not qualified to get a regular loan and still want to buy a property.  These dealers will even consider Option to buy or other creative options.
5. Submit in order to stop others from buying (this is an agent that will talk a buyer into just putting an offer in) here and there and everywhere and see which one reponds the quickest.  After holding up the property for some days, they call and cancel out and make up a story that is so long and drawn out on why the buyers walked!

If you fit into any of these catagories, you are not what I consider a serious buyer and a time waster.  In this line of business time is essencial and it is too valuable to waste!

WEBSITE: http://www.motheranddaughterrealtyteam.com

• Want to purchase a REO property? Want to know what properties I have to sell?
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide 
• For a FREE MARKET EVALUATION of your home  
• Need a Short Sale Specialist?   

Take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our aggressive marketing plan includes on-line listing advertising. 

- Check me out on Facebook 

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If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin, Alameda, Contra Costa and Stanislaus Counties - includes Stockton, Manteca, Tracy, Lathrop., Salida, Ripon, Modesto, Lodi, Hayward, Castro Valley, Union City, Fremont, Newark, Livermore, Pleasanton, Dublin and all surrounding cities).  Call us at 866-750-8282 or email at US.

Although not just in California, these cities have adapted City Ordinances to cover vacant properties (Stockton, Sacramento,  Merced, Fresno, Chula Vista, Santee, Palmdale, Murrieta, Temecula, Lake Elsinore, Hemet, Indio, Desert Hot Springs) -- and the issues related to these - foreclosed properties that are left vacant and unkept.  Some of these cities require that the bank register the vacant property, however, Stockton only require that the agent put a sign on the property that states that the property is bank owned, give the agent's information and a 24 hr /7 day a week number to contact the agent if there are any problems with that property.  The agent is also required to keep up the property's appearance -- especially any safety issues and the lawn.

Background: The trigger to let official know properties are possibly vacant is the filing of the NOD (Notice of Default), sometimes the homeowner or tenants have left the property around this time.  These are usually people that know that the property is in trouble and headed for foreclosure but is not sure what the timeline or process is -- so they leave.  In these instances a bank owner of a distressed property is required to inspect and determine if a property is vacant prior to filing the notice.

Local ordinances that are designed to address issues related vacant properties typically have one or more of a number of provisions that could be troublesome for banks and the agent they hire.  These include: 
·        Vacant property registration
·        Inspections
·        Notice of Default
·        Maintenance
·        Fines for violation
·        Liens

Some of the banks are now picking up the process of having the agent check with the city to see if it has a requirement to register vacant properties and if it does they will have the agent do that.  They ask for the information for that city contact and will need that at the time the agent take over the property.

This process is good in that it is a way for the city to promote taking care of foreclosured properties and not allowing them to become a nuisance in the neighborhoods.

WEBSITE: http://www.motheranddaughterrealtyteam.com

• Want to purchase a REO property? Want to know what properties I have to sell?
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide 
• For a FREE MARKET EVALUATION of your home  
• Need a Short Sale Specialist?   

Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

For more information... Check out our Website and our Blog... - Website: http://www.motheranddaughterrealtyteam.com - Blog: http://activerain.com/brooksrm2042 - Check me out on Facebook

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 For more information, visit www.makinghomeaffordable.gov.

You may qualify for a MORTGAGE REFINANCE if:

• You have a Fannie Mae or Freddie Mac mortgage loan on your primary residence, second home or investment property. Please contact Fannie Mae at 1-800-7FANNIE or Freddie Mac at 1-800-FREDDIE if you are unsure.
• You owe no more on your 1st mortgage than 105% of your home's current value. (Example: you owe $105,000 on a home with a current market value of $100,000.)
• You are current on your existing mortgage.
• You are interested in a new fixed or adjustable loan at current low rates.
• Note: Refinancing fees may apply.

If you meet all of the guidelines above, call 866-964-9754 to talk to a loan agent about refinancing your mortgage. 

Having difficulty making payments now? We have programs that may help.
You may be currently delinquent or falling behind on your loan. We understand and every day we partner with hundreds of homeowners to develop solutions that help keep families in their homes. If you are having difficulty making your mortgage payment, here's what you can do right now:

• Give us a call at 1-866-899-5308 to discuss your options.
• Call 1.800.CALL.FHA to find a HUD-certified housing counseling agency.
• Complete a financial analysis form and fax it to 1.866.709.4744.

 Looking to loan modify:  Got GMAC? You may qualify for a long modification if....

WEBSITE: http://www.motheranddaughterrealtyteam.com

• Want to purchase a REO property? Want to know what properties I have to sell?
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide 
• For a FREE MARKET EVALUATION of your home  
• Need a Short Sale Specialist?   

Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

 

For more information... Check out our Website and our Blog... - Website: http://www.motheranddaughterrealtyteam.com - Blog: http://activerain.com/brooksrm2042 - Check me out on Facebook

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