The Effective Process of a Short-Sale.

Consultant with a Laywer and CPA (certified Public Accountant). Hire a Realtor with short-sale experience; preferable one who has taken course(s) for such process; example SFR (Short Sales and foreclosure)certification from National Association of Realtors. The more education the better the representation.

1. Short-Sale cover letter
2. A signed short-sale payoff application, if available
3. Borrower’s/Seller’s Hardship Letter; be detailed and direct.
4. Borrower’s/Seller’s financial information
5. All supporting documentation for hardship & Financial explanations
6. If repairs needed to the property submit an estimate, if applicable
7.  CMA (Comparable Market Analysis)  and sales history (Realtor)
8. Marketing history, showing and feedback (Realtor)
9. Proof of Buyer’s ability to purchase property (Realtor)
10. Copy of certified escrow instructions (Escrow Officer)
11. HUD-1 (Escrow Officer)
12. Preliminary title report (Escrow Officer)

Please remember, if multiple loans you will need to repeat this process of each lien holder.

Please feel free to contact Linda or Hector, Broker for any other questions you may have.  linda.castellanos@att.net    

 

Get your Free Credit Report

 

I cannot stress enough the importance of reviewing your current credit history before thinking of purchasing a home and finding derogatory information which may disqualify your purchase or be placed in a higher interest rate. Request your free annual credit report from Experian,  Equifax and Trans Union.

 

https://www.annualcreditreport.com

 

Fight identity theft by monitoring and reviewing your credit report. You may request your free credit report online, Free credit reports requested online are viewable immediately upon authentication of identity

Propostion 90 and You

What Is Proposition 90?

Under Proposition 90, California property owners who are 55 and over may qualify to transfer the assessed value of their principal residence sold in participating counties.

Qualifications for Proposition 90 are as follows:

1.  The purchaser or spouse must be 55 years of age.

2.  The replacement residence must be equal to or less than the value of the residence sold.

(3) The replacement residence must be located in the same county as the property

being sold OR must be located in one of the counties which have voted to

pass Proposition 90 in order for the real property tax base to be transferred

from the former residence to the replacement residence. Before making plans to move, call the County Assessor’s Office in the county you are moving to and request the most recent information concerning Proposition 90.

HUD PROPERTIES ARE BACK!

The U.S. Department of Housing and Urban Development (HUD) has chosen Pemco Ltd. to administrate property management and sale of all HUD Homes in the states of Georgia, California, Hawaii, Guam and the

 

This site will help with the search of HUD homes for sale. Big Blue House Real Estate Sales in Downey California http://www.bbhrealestate.com is an authorized agent to represent buyers of HUD homes in California. Using a real estate broker is a very good idea. All the details involved in home buying, particularly the financial ones, can be an abundance of choices.  A good real estate professional can guide you through the entire process and make the experience a simple one. A real estate broker will be well-acquainted with all the important things you’ll want to know.

 

You will also find information on special programs offered by HUD, such as the Good Neighbor Next Door (GNND), Disaster Evacuee, and Non-Profit programs Marianas Islands.

 

HUD homes and is good buy. When a HUD insured mortgage becomes a lender foreclosed home; HUD pays the lender what is owed; and HUD is now the owner of the home. Then it is priced at value to move as quickly as possible. Read all about buying a HUD home on Pemco’s website. Check out listings of HUD homes and homes being sold by other federal agencies office or your county executive’s office.

 

To search for HUD properties available go to http://www.hudpemco.com .

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