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Which One Is A Better Buy: Short Sale or REO?

November 12, 2009

In this market, everybody is looking for better deal but which one is a better buy? Is it short sale or REO? When different types of homes are available, it’s better to educate yourself as a home buyer with these types of homes.
In my close by east bay area office (Fremont, Newark, Union City & Hayward), [...]

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Home Buyers: Take Advantage of Tax Credit Extension

November 7, 2009

Good News for Buyers! The tax credit for 1st time home buyer has been extended until April 30th of next year (2010).  I heard this will be the last extension from the Congress, so those who are thinking of buying a home, take advantage of this tax credit!!
This new tax credit will qualify more buyers [...]

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Is Your Loan Modification Company Still Exists?

November 4, 2009

If you are doing loan modification and not getting any response from your loan modification company then you better check whether that company is still around or not.
The new law which passed requires the loan modification company to get $75,000 surety bond.  This bond is to make sure that these loan modification companies do their job and [...]

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The Most Important Thing in Short Sale Transaction

November 1, 2009

As a Certified Short Sale Specialist in bay area, after handling several short sale transactions, I know there are lots of things which make the successful closing of a short sale listing.
As you all know that the successful closing of short sale needs an experienced short sale real estate agent who knows what all the [...]

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5 Common Mistakes When Doing Short Sale

October 26, 2009

If you look around bay area, most of the homes for sales are either short sale or bank owned homes. In just Fremont, Newark, Union City and Hayward area, you will see that 225 homes are available for sale, which is 34% of available homes and 812 homes are pending, that is 64% of current [...]

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Wachovia Short Sale Approvals

October 2, 2009

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 [...]

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Countrywide Short Sale Approved In Half The Time

September 30, 2009

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 [...]

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Can I short sale my Investment property (second home) in California?

September 14, 2009

 I got a call yesterday from an investor to check whether he can short sale his investment property, which is in Bay Area, California.  This is a common question from the investors who has second home or investment properties and many investor owners are finding themselves in similar situation. 
I’m sorry to hear about his situation, [...]

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How Can I Find Out If My Home Is In Foreclosure?

September 10, 2009

Couple of days ago one of the homeowner called me and asked whether they are in foreclosure or not. I asked whether they have received any Notice of Default (NOD) or trustee sale notice but they are not sure because they already moved out of the house.
Some homeowners are moving out as soon as they [...]

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Short Sales Are Impossible And Never Get Approved

August 29, 2009

I hear this frequently from the sellers and surprisingly more from real estate agents that short sales are impossible and never get approved.  I can understand that short sale is not easy and it is different from regular sale. It has more paper work, hard negotiation with all the lien holders, you have to keep [...]

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