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If you are one of the lucky few that still have equity in your home, you can still take advantage of the great rates that are available! Pull out some cash, maybe improve your home or snatch up a great investment opportunity. Historically, money has never been this cheap to borrow!

If you are a distressed Seller, and feeling the squeeze of your growing mortgage payments, you can try to Modify your loan, ask the bank to lower your payments. Many have tried this route and not everyone is successful at getting the bank to lower the payment to something ‘affordable’. Just be aware that in California, it is against the law for anyone to charge an upfront fee to perform this service for you. You can apply directly to the bank free of charge. Be aware it’s not an easy process. Be patience, take notes, write down name of those you spoke to, document your conversations. It can be well worth the time involved if you are successful.

Lastly, “Di-Fi” or the SHORT SALE. Work with a Certified Short Sale Specialist! Look for  a Realtor that holds the only NAR (National Association of Realtors) approved designation ,the SFR Short Sale, Foreclosure Resource or the CDPE Certified Distressed Property Expert. Agents that have taken the time to further their education in how to best serve their clients are the ones that can help guide you as to what choices there are for you and what to expect . See my ” 7 Choices” blog submission for more info. Too much is at stake to leave this type of transaction to an agent that is not familiar with the intricate process of direct negotiation with banks on your behalf.

It’s a Great Day in Real Estate!