Moving Cash At Close Of Escrow For Short Sale Sellers - Even If You Are Behind On Payments

Wow...Great News...

There was a time when the seller of a Short Sale could sell their house, even if they owed more on it than it could sell for in the current market, and the bank would reduce the pay-off amount to allow the property to be sold for current market value.

And the bank would also pay all of the seller's normal closing costs, including the Real Estate Commission. However, the seller was not allowed to receive ANY money at close of escrow.

After all, the bank was agreeing to take a loss, and the seller was avoiding a foreclosure, so it was acceptable for all parties.

THE GREAT NEWS IS that now in many cases the banks are agreeing to pay up to $5,000 to $20,000 to the Short Sale Seller at close of escrow.

HOW AWESOME IS THAT? The house gets sold at current fair market value to a new buyer. The Homeowner / Seller gets out from under huge, unaffordable house payments. Bank pays all of seller's closing costs....and seller walks away with CASH IN POCKET!

Every transaction like this is considered on a case-by-case basis...so you need to work with an Experienced Short Sale Agent who can get your house sold and closed, and negotiate THE BEST DEAL FOR YOU, the Short Sale Seller, including CASH AT CLOSING.....MOVING MONEY....At Close of Escrow.

Call Me Today....I Will Help You....Free Consultation, too.
Sherry Sims - Certified Short Sale Agent - 949-436-0446.

PS - Please Tell Family & Friends That Need To Know This To Contact Me....I Can Help Them If Their Property Is Anywhere In SoCal....Orange, Riverside, San Bernardino & LA Counties.....

Loan Modification Taking Forever?

Tired of Not Getting Straight Answers from the Bank on your LOAN MODIFICATION?

Let Me Help You. As a Short Sale Agent I am always negotiating with the Banks Loss Mitigation Departments (that is the department that handles both Loan Modifications AND Short Sales for each Bank) and I know what the bank knows that you may not.

Wondering how I can offer my Services For Free? I do it because I know many people are struggling right now and need to figure a way to re-structure their financial situation, or face possible loss.

And I also know that almost 100% of the Short Sale Sellers that I have helped to get their house Sold and Closed also tried and failed to get a Loan Modification.

Do Loan Modifications get approved? Yes, in some cases they do. However the majority of the time the struggling home owner is left waiting months and months with no final result.

What I offer is a FREE Consultation with you about what you would like to achieve in your Loan Modification. I analyze your financial situation to see if a Loan Modification is likely to get approved.

I also can help you understand both the Pros and Cons of a Loan Modification, as well provide other viable options for you.

I do this for you based on your own unique situation. We also look at what your future plans are and what the financial impact may be by comparing doing a Loan Modification vs. opting for a Short Sale.

If your Loan cannot be modified I will show you what other options are available to you and how you can still re-structure your financial situation in a way that benefits you.

And if a Short Sale is the path you choose to take, my services to you again are FREE. In every Short Sale that I have completed the bank paid all of the seller’s normal closing costs, including the commission.

HERE'S A SECRET – If your bank has offered you a CASH INCENTIVE to do a Short Sale, you can be pretty sure that that is their way of letting you know that they may not be able to approve your Loan Modification.

CALL ME TODAY – I Will Help You.

Sherry Sims, Realtor 949-436-0446

More Than Half of All Orange County Homes Sold in July Were Distress Sales

Short Sales and foreclosures are here to stay with us for awhile. In July of 2011 more than 50% of all homes sold in Orange County, California were Short Sales or foreclosure sales.

A Short Sale is a far better choice in almost every case over a foreclosure for a struggling homeowner. Problem is the word just has just not reached everyone who has suddenly found themselves in that situation.

I mean, one can only draw that conclusion when we see time and time again properties being foreclosed on or going to Trustee's Sale that would have been a perfect candidate for a Short Sale.

In most cases a Short Sale will cost the seller zero in selling costs and commissions. In some cases the banks are even beginning to pay the distressed seller some cash at close of escrow as an incentive to do a Short Sale rather than to walk away completely.

Why would banks do that? Because it is better for the struggling homeowner AND it is better for the bank. It saves the bank time and money.

One by one, each and every Short Sale that is completed is helping to get the housing market and the overall economy back on track. Until all the excess real estate that is currently "underwater" can be processed and sold we will not be able to reach financial recovery in our economy. The housing market is a very strong indicator of how sound our whole economy truly is. And anything that can be done to correct all these "underwater" properties brings us all one step closer to more financial security and stability.

The Short Sale is the best method we have available currently to make this correction. The impact on the struggling homeowners, the banks and nation is real, and the Short Sale over a Foreclosure is the way to the a balanced and stable financial future.

GOOD NEWS For Bank of America Short Sales

Wow. I just heard some great news concerning short sales that Bank of America holds the loan on.

Apparently they are launching another new program to streamline the process.

Several months back B of A began automating the submission and processing of their short sales through the Equator program, and in my experience that has been a much more efficient way to handle the short sale process on a Bank of America loan.

But now there is BREAKING NEWS that they are rolling out a fantastic new program to help homeowners that need to short sale through their HPO Cooperative Short Sale Program.

The word is.....almost all of the traditional documentation and extreme paperwork is no longer required, plus there are many other vital short cuts that will truly make the Short Sale Process quick, fast and painless.

And, this program is supposed to offer:

No Deficiency Judgments for Short Sale Sellers

No Seller Contributions Required

Seller Receives $3000 at Close of Escrow

Almost No Paperwork Required

And Extremely Fast Closings.....

As soon as I hear more on the B of A HPO Program I will post the details here!

Can A Short Sale Stop A Foreclosure ?

Is it really possible to negotiate a discounted pay-off of my real estate mortgage with my lender and successfully complete a Short Sale to a new buyer?

In this video Sherry also discusses California Foreclosure Timelines as well as what your options are if you have already received a Foreclosure Notice from your bank.

Short Sales Are The NEW NORMAL in California Real Estate Market

Maybe you already know that Short Sales are the New Normal in the California Real Estate Market.

Record numbers of people in California either bought real estate or refinanced their homes during the peak years of 2003 through 2007 when financing was easy to get and real estate values were at their highest.

Fast Forward to today and you'll find that a very high percentage of those same people are now upside down in their properties. They cannot sell them for the amount owed against them - so the Short Sale can be their best solution for dealing with underwater properties and payments that they can longer afford to keep up.

Short Sale Sellers Pay ZERO in Closing Costs & Commissions

In this video Sherry answers the question, "Do I have to get my Lenders permission to list my house as a Short Sale?"

And then, find out how you can Short Sale your house through a qualified Short Sale Agent and pay ZERO in closing costs and commissions.

Qualify For a Short Sale & Then Immediately Buy Another House

Watch this video where Sherry talks about whether it is necessary to miss mortgage payments in order to qualify to do a Short Sale.

You'll also find out about a Loan Program that allows Short Sale Sellers to qualify for a new home loan immediately after completing a Short Sale. Yes, you can buy another house after a Short Sale without waiting....

Do Banks Really Approve Short Sales? OC Short Sale Closings Up Over Last Year

The answer is yes, the banks really do approve Short Sales, and here is the latest data regarding Orange County Short Sale closings for the months of January and February 2010 as compared to the closings that occurred in January and February of 2009 according to SoCaL MLS.

Reported Short Sale Closings:

January

# of Short Sales of Single Family Homes closed in January 2009 was 179.
# of Short Sales of Single Family Homes closed in January 2010 was 255.

# of Short Sales of Condos closed in January 2009 was 127.
# of Short Sales of Condos closed in January 2010 was 200.

February

# of Short Sales of Single Family Homes closed in February 2009 was 201.
# of Short Sales of Single Family Homes closed in February 2010 was 224.

# of Short Sales of Condos closed in February 2009 was 103.
# of Short Sales of Condos closed in February 2010 was 165.

As you can see, in each case the Short Sale closings this year exceed Short Sale closings for the same months last year for both Single Family Homes and for Condominiums.

So the answer is YES, banks really do approve Short Sales, and they close escrow successfully, which allows the seller to move on and get a fresh start.

If you need a fresh start, and a Short Sale of your property would allow you to do that, then don't wait another minute. Contact me at 949-436-0446 immediately. I am here to help you.

Do I Have To Get My Lender To Approve My Short Sale Before I List My House For Sale?

A common question many people have about selling their home in a Short Sale is, "Do I have to get my lender to approve my short sale before I list my house for sale?"

The answer is NO. A Lender approves all Short Sales after an offer has been accepted, and is based on a complete Short Sale Package that is submitted to the bank, which includes a bonafied offer from a qualified buyer. A Settlement Statement is included in the Short Sale Package to the Lender which reflects the Purchase Price that the buyer has offered, less all of the normal closing costs and commissions that any seller would normally pay.

In the case of a Short Sale the bank pays the costs that the seller would normally pay. It costs the seller of a Short Sale nothing, zero, zip, nada in selling costs and commissions in almost every case.

If you are struggling and need to get your house sold fast then don’t wait a minute longer, call me now at 949-436-0446. I will answer all of your questions and as your agent I will handle all details of your Short Sale for you every step of the way. You are not alone – I am here to help you.

First Time Home Buyer Tax Credit Extended - Good News For Buyers and Short Sale Sellers

Smart Year End Tax Moves - Provided by the Wall Street Journal

First-Time Home-Buyer Tax Credit Has Been Extended and Broadened.

Congress has just extended and altered this benefit, making it more generous for many. The new rules took effect on Nov. 6.

The provision is a true dollar-for-dollar tax credit of up to $8,000 for 10% of the cost of a home. The credit is also refundable, meaning that even if a buyer doesn't owe $8,000 of tax, she can claim the full benefit and receive a refund check.

The new law has more generous phase-outs. The credit now begins to disappear for single taxpayers with modified adjusted gross incomes of $125,000 and married couples with incomes of $225,000. It is available for purchases through July 1, 2010 if the buyer has a contract in place before May 1, 2010. Unlike the prior law, however, this credit is capped: those buying homes for more than $800,000 get no credit at all, as of Nov. 6.

The new law also authorizes a similar $6,500 credit for buyers who already own a home. It too is a refundable credit for 10% of the purchase price of a house costing no more than $800,000.To qualify the buyer has to have owned and lived in the same home for five of the eight years preceding the new home purchase, and the new home must become the buyer's principal residence.

To read the complete article visit this link: http://online.wsj.com/article/SB10001424052748704795604574519852193088202.html

Short Sale Better Option Than Foreclosure?

Many homeowners who are facing uncertain times along with an increasing inability to make their mortgage payments are turning to the Short Sale as a way to avoid losing their property to Foreclosure.

With an eye toward protecting their potential future credit rating, they are realizing that a Short Sale may provide a way to sell the property now, and to recover from the credit impact much more quickly than if they actually went through a full property Foreclosure.

Job lay-offs, slow business, interest rate adjustments and declining property values all add to the economic woes that Californians are struggling with now.

Choosing the right real estate agent that specializes in Short Sales can give them the fresh start that they need.

Many homeowners are beginning to realize that they must liquidate their real estate now in order to ensure a more stable financial future.

A Short Sale does not have to be a negative thing at all. It can actually bring about a new beginning, and a new start on life.

Sometimes you need to start afresh, and a Short Sale can provide that opportunity.

Many people can qualify to purchase another home in as little as two years after completing a Short Sale, and in some cases even sooner.

In today's California real estate market, a Short Sale IS the New Normal, especially if you have bought or refinanced in the last few years, you may owe more on your house than it can sell for.

And you are not alone. The record numbers of foreclosure filings happening in the state do not even begin to reflect the whole picture. It's estimated that Short Sales will play a major role in all California real estate sales in the forseeable future.

In most cases doing a Short Sale is a much better alternative than choosing to walk away and allow the property to be foreclosed on. Better for you, the seller, and in the long run, much better for the bank as well.

A free Short Sale Homeowner's Guide is available here.

Short Sale Process Speeding Up

Short Sales have been known to take  F O R E V E R  to close in the past few years, so that seemed to be a good reason for many people to avoid them.

The perception out there was that the banks didn't really want to do Short Sales, and that if you did get involved in a Short Sale transaction, either as a buyer or a seller, that there was no guarantee that the Short Sale would ever close.

But the reality is that in California today an extremely high percentage of people who purchased a home or refinanced in the last few years are upside-down in their property.

In other words, they owe more on the property than they can sell it for, plain and simple.

The only real option for many people who are struggling to make their mortgage payments who want to avoid the negative impact of a Foreclosure is to sell their property in a Short Sale.

Oh, yes, many people have tried to do a Loan Modification with their lenders, only to discover that many lenders really don't want to do a Loan Mod. Or that they simply do not qualify for one.

SO what can they do?

SHORT SALE!

The good news is that many Banks have gotten a lot better about processing Short Sales, and many Short Sales that may have lingered or died at the bottom of a tall pile of files on some bank staffer's desk in the past are now getting approved, and in some cases very quickly.

Currently many banks are ramping up for a more streamlined approach to Short Sale processing which will become the industry standard very soon, and are getting approvals out faster all the time.

And working with a Short Sale Agent who knows exactly how to structure, package and submit your Short Sale documentation is absolutely vital to the process.

For more information on how to avoid Foreclosure by getting your house sold and closed with a successful Short Sale there is a Free Download available at  OC-SOLD.com .  Go there now and you will have all the answers that you need within minutes when you  get your Free Homeowner's Guide SHORT SALE SUCCESS.

Free Homeowner's Guide To Avoid Foreclosure

If you have unanswered questions about the best way to avoid foreclosure in today's challenging real estate market you must get a copy of  SHORT SALE SUCCESS: Getting Your House Sold and Closed in Today's Real Estate Market.

It is packed full of powerful information that any homeowner who may be struggling to pay their mortgage payments each month absolutely must read.

Get Your Copy Now by going to the main page of  OC-SOLD.com  and filling out the form at the top right of the page. You receive it within minutes and quickly learn what you can do to avoid foreclosure and how to Successfully Short Sale Your House.

And Best of All..... It's FREE!

Short Sale Best Way Out For Many Facing Foreclosure

A Short Sale may be the best way for a homeowner who is unable to make house payments any longer to get out from behind the eightball and avoid having a foreclosure on his/her credit.

Many homeowners who sell their houses in a Short Sale will be able to qualify to purchase another home in as little as two years. If the property goes all the way through a foreclosure the hit their credit will take may be much more severe, and greatly adds to the length of time that they will have to wait to purchase another home in the future.

To find out if you are a good candidate for a Short Sale call 949-436-0446 today. Let go of the stress, avoid the foreclosure, and move on with your life.

Although going through the Short Sale process has generally been a lengthy one in the past, most banks have geared up and are processing Short Sales much more quickly these days.

Having an experienced Short Sale Specialist on your side is the only way to go. Call today and you'll sleep better tonight.