San Jose CA – A bank should accept your short sale when the following rules apply. All banks and servicers have a fiduciary duty to the investor of the loan.

If they own the loan themselves, they have a fiduciary duty to their stockholders. The duty is to get that investor the most money possible.

So, a lender should accept an offer if it will net the most money.

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

The answer is that it is unlikely that any of that will happen.

Here is how we can assure the negotiator that the offer will net them the most money. Your only job is to prove that to the lender.

Do that by showing them that the property has been on the open market for 60-90 days. It is best to be able to show that the house was easy for buyers to see and other agents to show.

Ask them the following, “The agent selling the home is an experienced agent. The house has been on the market for X number of days. I have lived here the entire time and kept up on the house.

It looks good. We have had 43 showings since it’s been on the market. Out of that, only 3 buyers expressed interest. Out of those 3 buyers, the current buyer is the one willing to pay the most money.

The agent is doing their job marketing the property. With the current foreclosure case status, the home won’t be foreclosed until June or July. When you foreclose on the house, I will move out.

I won’t be keeping the house up anymore. The new listing agent will be working on 20 other homes and won’t be able to do as good of a job as myself. Do you honestly think the home is going to sell for more money at that time?”

When you ask them that, they won’t be able to argue with you. 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 sccrealestateprofessionals@yahoo.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 (408) 292-0486

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

Thinking about a loan modification? Our San Jose 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, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com.

Guiseppe Matese specializes in loan modification assistance and short sales in San Jose California. San Jose Short Sales. San Jose Loan Modification Help. San Jose Short Sale Realtor. San Jose CA Short Sales. San Jose Realtor.

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

This information on When A Bank Should Accept A Buyer’s Offer To Buy A San Jose Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – The Stop Foreclosure Institute recently received a question from Amit. Here was his question.

“Why does my lender need copies of my last 2 pay stubs? Are they hoping to garnish my paycheck? I am concerned that if I give it to them, then they will use it to garnish my paycheck.

They have said if they don’t get them, then they will not approve the short sale. What should I do? Amit.”

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

Here was our answer. Amit, we are not lawyers and therefore we can’t answer the garnishment question. Are you at risk of having your paycheck garnished?

I don’t think so. But, that’s just my opinion. Here is the first reason I don’t think they will garnish your wages. It’s because they don’t request that information to use it to attempt to garnish your wages.

In most cases, the lender simply wants to see how much money you are making. If you can afford your mortgage payment, then they might turn down the short sale.

Here is the second reason I don’t think they will garnish your wages. Wage garnishment is difficult. There are many different exceptions and protections against wage garnishment.

For example, if the person being garnished is the main provider for a family, then the laws are often written to stop any garnishment against them.

Here is the third reason I don’t think they will garnish your wages. None of the many people we have helped with a short sale have ever told us that they had their wages garnished. 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 sccrealestateprofessionals@yahoo.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 (408) 292-0486

Thinking about a loan modification? Our San Jose 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, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com.

Guiseppe Matese specializes in loan modification assistance and short sales in San Jose California. San Jose Short Sales. San Jose Loan Modification Help. San Jose Short Sale Realtor. San Jose CA Short Sales. San Jose Realtor.

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

This information on San Jose Short Sale Question: Why Does My Lender Want My Last 2 Pay Stubs? is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – The Stop Foreclosure Institute recently received a question from Will. Here was his question.

“I am thinking of short selling my house. There are some problems with the house. I know that most home buyers get a home inspected before they buy it.

Do I have to tell them about the problems? Or, should I leave them for the inspector to find? Will.”

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

Here was our answer. Will, we would disclose everything to the home buyers. It doesn’t do you any good to hide any problems.

The inspector will probably find them. But, if any are missed, then the buyers could sue you later on for damages.

I don’t know all the legal ramifications. In my opinion, they could sue you for hiding a problem that you knew about.

Who needs more legal problems? Besides, even if the house sells for less money as a result of the problems, then your lender will take the loss.

Remember, in most cases you can’t make any money off of the short sale. And even if you do, that amount will probably not change if your home sells for a lower value.

Your lender would have to factor those problems into the price it could get if it was selling the home after a 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 sccrealestateprofessionals@yahoo.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 (408) 292-0486

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

Thinking about a loan modification? Our San Jose 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, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com.

Guiseppe Matese specializes in loan modification assistance and short sales in San Jose California. San Jose Short Sales. San Jose Loan Modification Help. San Jose Short Sale Realtor. San Jose CA Short Sales. San Jose Realtor.

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

This information on San Jose Short Sale Question: Do I Need To Disclose Anything Wrong With My House? is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – Many agents think that a short sale lender will not look at a file until the short sale file is perfect.

“I need your financial information, last 2 years of tax returns, last 2 pay stubs, last 2 month’s bank statements, and all the other short sale paperwork before I can submit the file”, they tell you.

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

A perfect short sale file does help. But, some agents think it will make the short sale process so much easier.

But, even if the paperwork is perfect and submitted the lender will still want another piece of paperwork or want something modified. It’s just the nature of short sales.

Lenders are always changing their policies and paperwork requirements. In some cases, they want the seller to fill out their financial statement form.

In other cases, they want certain affidavits filled out and signed. No matter what, the requirements are always changing. It’s hard to hit a moving target.

The best practice we have seen is to submit the paperwork you have and then wait to see if the lender needs any additional paperwork.

When the short sale negotiator first looks at the file they will let you know what they need. You just need to make sure you get them that paperwork fairly quickly. 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 sccrealestateprofessionals@yahoo.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 (408) 292-0486

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

Thinking about a loan modification? Our San Jose 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, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408)605-7650. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com

Guiseppe Matese specializes in loan modification assistance and short sales in San Jose California. San Jose Short Sales. San Jose Loan Modification Help. San Jose Short Sale Realtor. San Jose CA Short Sales. San Jose Realtor.

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

This information on A Common San Jose Short Sale Myth: The Short Sale File Has To Be Perfect Before You Can Submit It To The Lender is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – Some people think they can go around a homeowner and buy a home directly from the bank. “The seller has to submit our offer to the bank because the bank owns the house”, they tell us.

They assume that they can sidestep the seller and buy the house directly from the bank. The truth is that until the bank forecloses on the house, the seller owns it and they are in the driver’s seat.

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

If the seller works with another buyer on a short sale and the bank approves the short sale, then that buyer will get the house. If you really want the house, then it is best to work with the homeowner during a short sale.

However, if you want to try your luck, then you can wait until the foreclosure is completed and buy the house from the bank.

However the bank won’t just sell the house to you. They have a standard way that they sell bank owned properties. They put them on the open market and wait for a good offer.

In most cases, they will not sell the house to you without putting it on the open market. This policy ensures that they don’t sell any homes for less than the fair market value.

Every buyer in the market has a fair shot at the house. Their reasoning is that will get them the best price for the home. 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 sccrealestateprofessionals@yahoo.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 (408) 292-0486

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

Thinking about a loan modification? Our San Jose 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, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408)292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com.

Guiseppe Matese specializes in loan modification assistance and short sales in San Jose California. San Jose Short Sales. San Jose Loan Modification Help. San Jose Short Sale Realtor. San Jose CA Short Sales. San Jose Realtor.

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

This information on Is It Better To Buy A San Jose Short Sale Or Wait Until After The Bank Has Foreclosed? is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – I recently saw an article written by a prominent, so called short sale expert. In the article, this supposed expert says the only rules for short sales are HAFA, but even those rules are subject to interpretation.

That is like saying that there are no traffic laws. If that were the case, then everyone could drive 100 MPH and never get a ticket.

That is like saying that the court system has no rules. (Go ask a judge or lawyer and you’ll find out the truth about that pretty fast.)

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

The good news for short sale sellers is that there are rules. There are lots of rules in fact. These rules protect you from renegade, rogue employees at short sale lenders. They also protect you from the lenders.

Here is a small sampling of the rules and guidelines for short sales.

FHA Short Sales. There is a 16 page directive from HUD to lenders. This directive gives explicit instructions to all lenders on how to handle short sales on FHA loans.

You can read thru the rules for an FHA Short Sale yourself. Just Google “Mortgagee Letter 2008-43.”

VA Short Sales. VA gives explicit instructions (again in their short sale guidelines. Only, they don’t call it a short sale. They call it a VA Compromise Sale.

Call a VA Loan Center to get a copy of the Compromise Sale Guidelines. Between 65-70% of all the loans in the US are owned or insured by one of the following entities: FHA, VA, Fannie Mae, or Freddie Mac.

Those entities either own or insure against loss. That also means those entities have the right to dictate what can and cannot be done on a short sale.

The lender handling the negotiations has to follow their guidelines or face stiff penalties. Fannie May and Freddie Mac do not publish their guidelines to the general public. But, we do know they have them.

The lenders have sent Stop Foreclosure Institute Members copies of their guidelines before. The member was disputing something on a short sale. They couldn’t believe a certain rule.

The lender’s negotiator sent them the guidelines for the thing they were disputing. The bottom line is that most (if not all) short sale sales do have rules.

However, the lenders don’t want you to know that. 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 sccrealestateprofessionals@yahoo.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 (408) 292-0486

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

Thinking about a loan modification? Our San Jose 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, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com.

Guiseppe Matese specializes in loan modification assistance and short sales in San Jose California. San Jose Short Sales. San Jose Loan Modification Help. San Jose Short Sale Realtor. San Jose CA Short Sales. San Jose Realtor.

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

This information on San Jose Short Sale Myth: There Are No Rules Or Guidelines For Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – If you have negotiated a short sale or loan modification, then you have probably heard the lost paperwork excuse. “Oh, we lose your paperwork. Please refax it to this number”, then lender’s representative tells you.

I have heard this excuse countless times. No one can lose paperwork that much. I am now convinced that it is a lie. But, why would a lender blatantly lie like that?

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

In my opinion, they do that to make up for their failings. See, most loan modification and short sale departments are stretched to the max.

The employees are overworked and underpaid. Everyone just gets into the mindset of not caring. They have to deal with angry people every day.

The people are understandably angry and they want some answers. But, because nothing it getting done, the employees feel bad. But, rather than tell the customer what is really happening, they make something up.

No one wants to tell someone that nothing has happened on the file in several months. It will make that person even angrier. It could even start lawsuits against the lender.

It is much easier to tell them that their paperwork got lost somehow. It they tell them that, they will think it is a legitimate excuse and refax the paperwork.

Problem solved for the lender. But, doesn’t that cause more problems for the borrower? 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 sccrealestateprofessionals@yahoo.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 (408) 292-0486

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

Thinking about a loan modification? Our San Jose 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, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com.

Guiseppe Matese specializes in loan modification assistance and short sales in San Jose California. San Jose Short Sales. San Jose Loan Modification Help. San Jose Short Sale Realtor. San Jose CA Short Sales. San Jose Realtor.

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

This information on Why Do Lenders Always Lose Your Paperwork On A San Jose Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – You may wonder why a sales contract says the seller pays for certain costs and yet the bank covers the costs. Here is how it works.

The sales contract may have a certain clause say: “Seller to pay title and seller’s documentary stamp taxes.” How does the bank pay that cost if it says the seller is paying it?

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

In traditional real estate (non short sale), certain costs are normally paid by the seller and other costs by the buyer. For example, the seller doesn’t normally pay the buyer’s home inspector.

In these cases, the seller is actually paying those costs. So sales contracts have always been written like that. On a short sale, the costs are paid by the seller on the closing statement.

But, you aren’t paying them. Instead, they are being subtracted from the sales price. The short sale lender gets what remains after the costs are paid. For example.

Sales price: $100,000.

All costs paid by the seller: $9,000.

Net to the short sale lender: $91,000.

The short sale lender is actually paying these costs by simply accepting the lower amount. That is why it is called a “Short Sale.”

The lender is getting paid less than what they are owed. They would have to pay all of those costs if they foreclosed on the house and then sold it.

So, they might as well pay those costs now with the short sale. 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 sccrealestateprofessionals@yahoo.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 (408) 292-0486

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

Thinking about a loan modification? Our San Jose 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, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com.

Guiseppe Matese specializes in loan modification assistance and short sales in San Jose California. San Jose Short Sales. San Jose Loan Modification Help. San Jose Short Sale Realtor. San Jose CA Short Sales. San Jose Realtor.

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

This information on Who Pays The Costs In A San Jose Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – Yes, many people think they can negotiate with the lender. But, some of them don’t have the skills necessary to be successful.

Here are a few of the things someone needs before they can negotiate a short sale.

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

They must have the ability to understand HUD-1 Closing Statements. The lenders will want a copy of the closing statement, also call a HUD-1.

Most people in the lender’s short sale departments are very familiar with HUD-1s. The person negotiating with you will need to answer any questions they have about the HUD and know how to make changes to it.

They must know the short sale seller’s rights. Most short sale transactions fall under certain guidelines. The lenders don’t always like to follow those guidelines.

They might ask the seller to accept a promissory note when the guidelines don’t require that. You could be stuck repaying thousands of dollars unnecessarily.

Make sure the person negotiating on your behalf has a complete understanding of your rights.

They must know how short sale negotiators think. Short sale negotiators don’t just approve every short sale.

There is a process they must follow before approving or rejecting a short sale offer. If the person doesn’t understand then they won’t be able to work your file thru the process to receive an approval. 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 sccrealestateprofessionals@yahoo.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 (408) 292-0486

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

Thinking about a loan modification? Our San Jose 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, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com.

Guiseppe Matese specializes in loan modification assistance and short sales in San Jose California. San Jose Short Sales. San Jose Loan Modification Help. San Jose Short Sale Realtor. San Jose CA Short Sales. San Jose Realtor.

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

This information on San Jose Short Sale Myth: Anyone Can Negotiate With The Lender is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – We recently gave a couple of common reasons that short sales fail. Today, we will go thru a few more reasons.

(To recap, here were the reasons we put in our previous blog post. Reason #1: The sales price is lower than the lender wants. The lender thinks the home is worth more than it is selling for and won’t approve the short sale unless the price is for the value they have.

Reason #2: The tenant doesn’t allow the home to be showed. Many tenants do not want the home to be shown to buyers because they will have to move before it sells.)

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

Reason #3: Your realtor never followed up with the lender. Short sale negotiators are not in a rush. They don’t get paid by the file.

They also make the rules. They will issue ultimatums. “Get me this document by Tuesday. If you don’t, then I will cancel the short sale process.”

Restarting the short sale process will set you back 30-60 days. If your agent doesn’t follow up on the process regularly and quickly respond to requests, then your short sale may be canceled.

Reason #4: Your realtor didn’t keep their paperwork organized. Lenders want correct paperwork that is properly filled out. They want everything organized.

Most short sale departments are a bureaucracy. They have checklists to fill out, forms to check, and other things to check.

If your agent is not organized, then they won’t be able to give them the correct paperwork. They might lose paperwork and have to hunt down replacements.

This takes time and slows down the process. So, be sure you hire an organized, competent agent to help you with your short sale. 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 sccrealestateprofessionals@yahoo.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 (408) 292-0486

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

Thinking about a loan modification? Our San Jose 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, Guiseppe Matese.

Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley.

Phone: (408)605-7650. sccrealestateprofessionals@yahoo.com.

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com.

Guiseppe Matese specializes in loan modification assistance and short sales in San Jose California. San Jose Short Sales. San Jose Loan Modification Help. San Jose Short Sale Realtor. San Jose CA Short Sales. San Jose Realtor.

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

This information on San Jose Short Sales: More Reasons Why Short Sales Fail is provided as a courtesy to our viewers to help them make informed decisions.