I’m so glad to inform that we have helped 2 more families to avoid foreclosure from their credit.  One of the homeowner was in Fremont and another family was in Milpitas, CA.  The Fremont home was their investment home, tenant occupied and their 2 loans were with Chase bank. We got the short sale approval letter within 3 months and buyer was happy that they got their home sooner than expected because they heard most of the short sales take 6-8 months, well I’m glad that finally everybody was happy and seller avoided foreclosure, now they can move on with their life without any worries about this house.

Other family was in Milpitas and it was a condo, this one took more time to close the escrow because we lost first buyer by the time we got the approval from Bank of America HAFA team, it took 4 plus months back and forth negotiating with them for small changes. Finally seller also got frustrated and moved the file from HAFA to regular short sale department.  They had a second loan with CalHFA (California Housing Finance Agency), it was a down payment assistance loan.  The negotiator with CalHFA was nice and had no problem in getting approvals.  I have worked with them for 2 other short sale approvals and both times we got the approval without any problems.

Well, we relisted the Milpitas property and found another buyer within couple of days and we had also received approval this time in a month and closed in 3 weeks. So, I got a chance to help two more families with their short sale and stopping foreclosure.

If you or anyone you know in Fremont, Milpitas or close by bay area who wants to do short sale or wants to know other options to avoid foreclosure, please feel free to call me at 510-366-9405, I would be glad to assist you.

I’m so glad to inform my readers that we are saving more families to avoid foreclosure.  One of the families from Union City had contacted me because they were having difficulty in paying their mortgage and all their expenses; they took out all their savings and tried their best to save from foreclosure. They had also received loan modification last year from the bank but didn’t work for long term.  Their first loan was with Bank of America and 2^nd loan was GMAC.

After 3-4 months of negotiation, we got the approval from both lenders and they had also approved for HAFA Short sale where sellers received 3,000 from the lender at close of escrow.  We had successfully closed the short sale with the first buyer itself.

Second family was from San Jose and they had contacted from one of my past client.  Their loan was with CitiMortgage and Chase.  The negotiation with CitiMortgage was a good experience, they were very cooperative and the negotiator was really nice enough to generate 3 extensions (yes! we lost the first buyer and worked with 2^nd buyer) without any problem but the Chase was little bit hard in giving extensions.

Finally we had received both extensions for the second homeowners in San Jose and closed successfully. The seller was happy with the result and had moved out of state to start their new life with no worries of calls from lenders on their mortgage.

If you are thinking of short sale and having hardship then don’t delay, talk to professionals like accountant, attorney and realtors who is experienced in short sale to see if you qualify for short sale so that you can avoid foreclosure.  Give me a call at 510-366-9405 with any questions and I would be happy to assist you.

The good news is that, you don’t pay any commission to the realtors if you are doing short sale and most of the closing cost also paid by the lender. I love to work with families and helping them to avoid foreclosure so that they can live stress free!

I’m so glad to inform you that we have closed 2 more short sales successfully in Hayward Hills and San Francisco. The lender on 1^st house was Chase and it was FHA loan, it is little bit different process than conventional loans. The lenders on San Francisco house were Wachovia and Wells Fargo.

Since it was FHA loan on the Hayward Hills house, it was different experience with our file.  The lender had initially sent it to the investor(Fannie Mae) for their approval. It was little bit frustrating in the beginning because their timeline for an update from their investor was 30 days and every time I called the customer representative, the mentioned that it was still under processing and no further updates.

I called the lender again on 31^st day and they still didn’t have any update, so I escalated the file and customer representative was really nice and helped me to escalate the file. The very same week, the phase 2 negotiator called me and sent few more documents to complete which were required for this file.  After that, it was a smooth transaction and we had received the approval in couple of weeks after that and successfully closed with the same buyer. There were some issues with the buyer loan and the buyer agent but finally everything got resolved with couple of extensions to close the escrow.

San Francisco house was also little bit challenging to close, we got the approval in 35 days but lost buyers twice and we had closed the escrow with the 3^rd buyers. This buyer and the buyer agent were really good in this transaction; we didn’t have any problems this time and closed the escrow successfully.

In short sale, sometime it is really challenging to maintain all parties, getting approvals and getting extensions if there’s any delay in closing and coordinate with all the lenders. Short sale is complex and if you don’t know what you are doing then it will be really tough to handle the negotiation and close the short sale successfully.

If you are in bay area and looking for an experienced short sale realtor then give me a call for a free consultation to see if you qualify for short sale and what options you have to avoid foreclosure.  You can reach me directly at 510-366-9405.

This family was so excited when the short sale closed successfully and avoided foreclosure. It feels so good to save families like these to avoid foreclosure.

This nice client was referred from my past client. They had listed with another agent for more than 6 months with no success in finding a buyer who could close this sale. This townhouse was in Milpitas, CA and the trustee sale date was just 2 weeks after when they had contacted me to assist them in short sale.

After my initial consultation on the phone, I had figured out what was lacking in this transaction (previous agent wasn’t experienced with short sale and didn’t have proper short sale marketing) . This one had 2 loans with different lenders (ServiceLink & Wells Fargo), so getting an offer, negotiates with both lenders and getting approval in a week time was hard.

The same day when I did talk over the phone, they sent all the paper works required for short sale.  The sellers were very cooperative and this is really important in short sale to submit all the required paper works quickly in order to move the short sale smoothly. The very next day, I started my aggressive marketing and found a qualified buyer within 2 days.

I had already prepared the package and sent it to the lender immediately, but the customer support told me that they wont accept the short sale package if the trustee sale date is within the next 15 days.  So, according to them we were already late (only 10 more days to trustee sale) but after requesting and explaining the situation, they transferred to their supervisor and they said that they would review the package and if everything looks good then they would postpone the trustee sale. After reviewing my complete package, they did postpone the trustee sale.

After back and forth hard negotiations for couple of weeks, we got the approvals from both lenders. The 2^nd had asked cash contribution from sellers but finally, with my negotiation, lender agreed to approve the short sale without any cash contribution from seller.  This was really good that the seller didn’t have to bring any money at closing.

I have to tell that this buyer’s agent was really superb to work with; she handled the buyer side very smoothly and helped to close this sale successfully.

I’m so glad that I got a chance to save one more family to stop foreclosure from their credit.  Here’s the most important thing when you select an agent to work with your short sale, always work with an experienced short sale agent, ask for referral and check how did they help that client in their short sale and how did that agent communicate with them.

If you are in bay area and looking for an experienced short sale agent, give me a call for a free consultation and hopefully I can help you also with your short sale.  You can reach me directly at 510-366-9405 or click on Contact Me link to email me.

Fannie Mae short sale is little bit different than the other short sales, they have their own different guideline when it comes to short sale approval, but finally we have successfully closed short sale with Fannie Mae backed loan.

This house was located in Gilroy, California.  The lender was Bank of America and the investor for this loan was Fannie Mae.  They have timeline when to assign a negotiator and how much it will approve the short sale.  We have received the offer quickly for this house which we submitted the short sale package immediately (credit goes to seller where they had submitted all the paper works on time).

If it is Fannie Mae loan then the lender has to submit the file to Fannie Mae investor for their approval, the initial phase itself takes 30 days to assign a negotiator and checking whether they have all the documents before they order their appraisal.  Once they get the appraisal and our purchase offer is within their criteria (minimum 88% for the first 30 days of listing), they submit the file for the final phase negotiator which took 15-20 days to get the approval, but according to their time it could take up to another 30 days for the approval.  I have to say that this negotiator was so good that she got the approval this fast.

Once we got the approval, the buyer closed within 30 days and everybody was happy; the buyer got their dream home and the seller’s credit was saved from foreclosure, now they can move on with their life without any stress.  I feel very excited to save a family from foreclosure.

Sellers get $1,000 as seller’s incentive at close of escrow. Feel free to call me if you would like to know what all other criteria for Fannie Mae or how to work with Fannie Mae short sale.

If your loan is Fannie Mae or not, give me a call and I would be happy to assist you with your short sale or even call me for a FREE consultation to get to know more short sale and whether this option is best option or not.

Another successful short sale closing in bay area! I have experience in short sale and will do my best to assist you in anyway I can to help you to avoid from foreclosure.  Give me a call even if you have received the trustee sale notice for doing short sale.

Finally, we closed this short sale successfully this Friday!!  This short sale was with Bank of America. They are better than last year but this deal was little bit harder as compared to my other Bank of America transactions.

The negotiator on this transaction was very hard, she asked for cash contribution of more than 17k+ and promissory note of 30k+ to approve this sale. My client wasn’t in a position to contribute anything extra due to financial hardship. I did show all the financial to proof that seller doesn’t have that much money for either.

I have sent many emails to her to show all the numbers to show that this offer is good and better than foreclosure, but twice she had rejected my counter offer of nothing to them from seller. When things were not going anywhere, I had escalated the file to her supervisor and even to the higher level.  They transferred the file to the escalation team member and I have explained the situation on this short sale file and she was really nice and helped me to get the file approved by the investor within a week.

We were so excited to see the approval and informed the buyer’s agent but guess what- the buyer backed out of the deal due to her new job which was far from this home. Well, I had contacted by backup offer agent and luckily that buyer was still interested and moved forwarded with this transaction and finally we closed the escrow on this short sale successfully.

Oh! I’m sure you would want to know what happened to the cash contribution of 17k+ and 30k+ promissory note –right? Well, the seller only paid 1,000 and Zero promissory note. Yes! ZERO Promissory Note!!  The lender approved the short sale without any promissory note and they gave us “Full Satisfaction” letter, which means the lender will not come after for the remaining balance.

At the end, I’m really excited we closed this short sale and one more client is saved from foreclosure. Now my client can have some piece of mind with no worries of harassing phone calls from the lender and avoided this foreclosure.

If you are in Bay Area and thinking of short sale or looking for experienced and certified short sale specialist then give me a call at 510-366-9405 and we can sit together to discuss all your option on how to avoid foreclosure and my consultation is free and all the information will be confidential.  So give me a call now to discuss your options.

This property was located in nice Trestle Glen area of Oakland, California; it had 2 loans with Wells Fargo but sold successfully at below average days on market.  We had received offer in 7 days with my aggressive short sale marketing.

The owners were really nice and they contacted me through my website to help them in short sale. I have to tell that they were on time in giving all the required documents, which were needed for short sale and without their help and cooperation; I couldn’t have this success in this short sale transaction.

We had received multiple short sale offers and selected the best offer to send to the lender for approval.  In the beginning, we had problem with 1st loan holder in assigning a negotiator for this short sale transaction but after a week, we had escalated the file and at that point they assigned a negotiator and ordered the BPO for this transaction.

The 2nd lien holder (Wells Fargo Equity Line) wanted more money from the 1st loan holder and seller, which I had negotiated with them for way less money than what they originally asked and finally we received their short sale approval.  All these negotiations didn’t take that much time, only 32 days for approval with my aggressive negotiation skills.  I’m happy that I have helped successfully to one more family in short sale. 

If you are in bay area and looking for an experienced short sale agent, then give me a call at 510-366-9405, I would be glad to assist you in short sale or call me even if you have any questions on short sale or options to avoid foreclosure.

This is one of the best banks in approving short sale. Wachovia’s short sale approval process is so fast that I haven’t seen any other lender this fast with short sale approvals. I guess other lenders need to learn from Wachovia on how to process short sale.

Couple of weeks ago, I talked to the manager of Wachovia’s short sale department and he explained to me about the Wachovia short sale approval timeline.  I was so excited to hear that they can process the file and get approvals within 7-10 days. Currently, this program is available in California but they are planning to expand to other states.

So, if you are in bay area and your lender is Wachovia and thinking about short sale, then give me a call at 510-366-9405 as soon as possible so that I can check if you qualify for short sale, then all we need to do is list your property and with my aggressive short sale marketing, get an offer from a qualified buyer (my average short sale listing gets offer within 7-14 days), once we get the offer then submit the short sale package to the lender for approval.

Now, if you have second mortgage holder, other than Wachovia on your house, then we need to negotiate with the other lender also, which will take time, depends on the lender.  I have successfully negotiated short sales with 2nd mortgage holder also , so give me a call at 510-366-9405 so that we can discuss your best options on how to avoid foreclosure.

I have just closed another short sale with Countrywide; I know you have heard lots of horror stories about countrywide short sale approval. This is one of the few lender which takes longer time to get approvals on short sale, normally they take anywhere from 6-8 months and longer in some cases. 

My short sale with Countrywide approved in half the time, it took only 3 months for the approval. It wasn’t bad, dealing with them as I heard in the past with some other agents. Well, this is one of the longer times as compared to my other short sale approval with other lenders.

When I received a call from this San Jose homeowner and mentioned that their lender is Countrywide, I thought to myself “Oh! No! Should I take this listing or refer to someone else” Well, I accepted as challenge and not only that, I really wanted to help this family to avoid from foreclosure.

I had received the offer (multiple offers) for this house in just couple of days and sent the best offer to lender for their approval. After couple of weeks, when I called them, they had mentioned that they already asked their appraisal company for appraisal but it didn’t happen even after couple of  weeks. I called the lender next week and asked the status on appraisal and their representative said “their system is not showing the appraisal order for this house, no one even placed the order for the appraisal”.  The representative was very nice, she checked with their appraisal company directly and placed the order for us after confirming with their manager. Finally, their appraisal company sent someone for appraisal the next day itself.

Our offer got accepted and approved in couple of weeks after their appraisal and we were so excited and I called the buyer’s agent to inform this good news but guess what! That buyer backed out because “the entrance door of this listing was facing South and which is not good for them” –Wow!! I’m not sure, why they had waited this long to inform us and why they didn’t check before writing the offer, this is one of the simple thing to find out in the beginning itself. Well, I put back on market and received the offer next day itself and we had received higher offer than the last offer.  Again, submitted the offer and within 2 weeks, I have received the approval letter and this time we closed the escrow with no problem. 

I’m really happy that I saved one more family from foreclosure.  My goal is to save as many families as possible from foreclosure. Well, this is the time, families like them need more help in selling their house so that they can start a new life, build up their credit and not worried about harassing calls from lenders or foreclosure on their credit.

If you are in bay area and your lender is countrywide or any other lender and thinking about short sale, please give me a call at 510-366-9405 to see if you qualify for short sale.

If you or anyone you know in the bay area that are facing foreclosure or having difficulty and would like my help, please contact me directly at 510-366-9405 and I would be happy to assist you in any way I can.  Thank you for reading my blog!!

One more client of mine is saved from foreclosure!! They contacted me last month and told me about their situation, they were having hardship in maintaining all the expenses and they tried their best to keep their house by paying their mortgage but couldn’t afford to keep it longer.

Their couple of friends told them that the foreclosure and short sale is same thing and they even decided to let it go foreclosure, but one of their other good friends suggested talking to me to see if short sale is right or not. I have explained to them the difference between short sale and foreclosure and advantages of short sale over foreclosure.

Once they saw the benefits of short sale, they decided to list the house. After listing the house and with my short sale marketing, we did receive 3 offers within a week’s time and sent the best offer to the lender for their approval.

As a short sale specialist and with my negotiation skills, I have received the short sale approval within 29 days from Wells Fargo and the homeowner was so excited to see the approval. The buyer and buyer’s agent were also excited to see the approval within a month. They completed their inspection and other required paper works within the specified time period (I would say that buyer’s agent was superb in following up on their side) and today (08/03/09) we closed the escrow.

My goal is to help families from foreclosure as far as possible. If you are thinking of short sale and have any questions or need my assistance then don’t hesitate to contact me at (510) 366-9405, I would be happy to assist you in anyway I can – your bay area short sale specialist.