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What is a Redding Short Sale? A quick sale in real estate, also commonly called a short sale, happens when a lender is willing to accept a lower pay off on a loan than what is currently owed due to the borrowers inability to continue making payments. What does it take to qualify for a Redding Short sale?
Is it possible for me to get money back for completing a short sale? Until recent times, it was almost unheard of for a home owner to get money back in a short sale. Things have changed for the better. The HAFA program, backed by the US Government, allows homeowners $3,000 to use towards relocation expenses. In addition, some lenders will offer generous incentives of their own in addition to money offered through the HAFA program. We have seen home owners get as much as $35,000 back to complete a short sale. Who will pay the Redding short sale Realtors® commission? In a short sale it is customary for a lender to cover all fees associated with the sale of the property, including your Redding short sale specialist as well. In almost all cases, a home owner in hardship will pay no out of pocket expense to complete a short sale transaction. How Can a Redding Short Sale Real Estate Agent help me? As a Redding short sale specialist, I have helped many home owners who are in a
Laura Reilly License Number: 01760446 Real Living Real Estate Professionals PHONE: 530-921-1063 ~ Your Redding Short Sale Specialist Realtor® ~
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Tag: process
Redding Short Sale Process – How to Short Sale
While lenders seem to be easier to work with lately regarding qualifications, there are usually three borrower qualifications that most lenders require for a Redding short sale. 
difficult financial season get a fresh start with a short sale. Short sales are not part of our “basic training” as real estate agents, and are something that should only be left to those of us who are especially qualified and experienced. Experience is everything when it comes. I’ll not only market your home in the traditional manor, but will guide you through this transition while simultaneously processing the short sale with your lender. 
What is a Wells Fargo Short Sale? – Redding CA – Short Sale
What is a Wells Fargo Short Sale?
In a short sale the homeowners have the option to sell your home for less than the amount owed on your mortgage.
By doing a short sale, the struggling homeowner be released from the obligation to pay back the primary mortgage under its original terms. And as the mortgage servicer, Wells Fargo Home Mortgage may accept the proceeds of the sale as payment in full.
This option can help homeowners avoid a foreclosure sale. A short sale may be considered even if the foreclosure process has started, but time is of the essence.
Contact us directly at (530) 921-1063 -Laura Reilly- to start a short sale today.
Depending on your situation, you may be eligible for a short sale through the federal governments Home Affordable Foreclosure Alternatives (HAFA) program, or through many different programs.
If the homeowners is looking for options to avoid a foreclosure sale a short sale should be considered. In some cases the foreclosure sale may be postponed once a written, signed offer is received and approved by Wells Fargo Home Mortgage.
The current homeowner can live in the home until the new owner closes, giving you time to make other relocation plans.
And you as the homeowner can be released from your obligation to repay your mortgage balance.
Ways to Contact Us Direct (530) 921-1063 Laura Reilly
or OnLine
Short Sale Certified by the National Association of Realtors License #01760446
Check Out My Credentials Here
LOOK at REAL short sale approval letters, Homeowners Released and PAID relocation !!
What is a Wells Fargo Short Sale?
Wells Fargo Short Sale Facts – Redding CA
Wells Fargo Short Sale Facts – Redding CA
Wells Fargo bank owns 18% of their loans. They do not “own” most of the loans so what this means is when we are dealing with Wells Fargo home loans, we really are dealing with someone else.
69% of the loans Wells Fargo services are Fannie Mae, Freddie Mac or Ginnie Mae. 13% are private investors.
These are the people making the decisions about your Wells Fargo short sale transaction.
Fact – Wells Fargo has traditional been more flexible with HOA fees if the offer is for full market value or close to the Wells Fargo based asking price.
The Redding Short Sale Team will coordinate the existing homeowners, escrow and HOA if involved, Wells Fargo and the new buyers in the real estate transaction.
If an offer to purchase your home is received 30 days before a foreclosure sale date, Wells Fargo may postpone the foreclosure sale.
Time is of the essence in order to get a valuation (45-60 days) and a buyer along with being assigned a Wells Fargo negotiator.
We can help, find out what the process is.
Ways to Contact Us Direct (530) 921-1063 Laura Reilly
or OnLine
Short Sale Certified by the National Association of Realtors License #01760446
Check Out My Credentials Here
LOOK at REAL short sale approval letters, Homeowners Released and PAID relocation !!
Wells Fargo Short Sale Facts – Redding CA
Chase Short Sale Facts – Redding CA
Chase Short Sale Facts – Redding CA
Deficiencies judgements in the State of California on Chase First Lien Mortgages short sales real estate transactions are waived 100% of the time.
Chase bank is beginning to offering struggling homeowners up to $48,500 in moving incentive payments. This moving incentive is only being offered to Chase homeowners who are already behind on their payments and is determined by what portfolio the loan falls in.
There is no way for the Redding Short Sale team to determine which homeowners will qualify for these moving incentives.
The best advice the Redding Short Sale Team can give to struggling Chase homeowners is they should work with an experienced short sale real estate agent.
Contact us directly to learn about the short sale process.
Direct (530) 921-1063 Laura Reilly-Realtor
Time is of the essence. Chase short sale negotiators are not permitted to reveal the “Chase” Price Opinion for compliance reasons.
It takes about 2 weeks from the time the valuation is done before Chase has a property value. So the sooner your start the better.
Ways to Contact Us Direct (530) 921-1063 Laura Reilly
or OnLine
Short Sale Certified by the National Association of Realtors License #01760446
Check Out My Credentials Here
LOOK at REAL short sale approval letters, Homeowners Released and PAID relocation !!
Chase Short Sale Facts – Redding CA
Short Sales take over Foreclosures-Redding CA
Short Sales take over Foreclosures -Redding CA
A short sale in a real estate transaction is when the mortgage lender on the property agrees to accept the mortgage payoff for less the the amount owed on the home.
Why would banks agree to this?
Banks and mortgage lenders are becoming easier to work with on short sales vs. the other alternative which maybe foreclosure.
A foreclosure to a bank will mean a larger loss to the bank due to legal fees, taxes, insurance and property maintenance.
Large banks such as Bank of America, Chase and Wells Fargo are offer homeowners incentives to cooperate in a short sale vs. the bank having to contend with a foreclosure.
The short sale process use to take six month to a year, banks are now working to streamline the process and the process is taking about three months now to get a short sale approved
Do you want to know if a short sale can benefit you?
Contact Us Direct (530) 921-1063 Laura Reilly
or OnLine
Short Sale Certified by the National Association of Realtors License #01760446
Check Out My Credentials Here
LOOK at REAL short sale approval letters, Homeowners Released and PAID relocation !!
Short Sales take over Foreclosures-Redding CA
My Neighborhood is Going Down Hill-Redding CA-Short Sale
My Neighborhood is Going Down Hill -Redding CA-Short Sale
A very, very common condition in real estate is the area or neighborhood conditions can change. It is just a matter of fact and of life that situations change.
Often homeowners would like to move but think they can not because they owe more on the mortgage can then could possibly sale the property for.
A “short sale” makes it possible.
In a short sale real estate transaction the lender on the property from Bank of America to Wells Fargo – may work with the homeowner to sell the property for less then is owed on the mortgage.
This process takes several months and requires participation of the homeowners, but it may just be the fix for a difficult situation.
The Redding Short Sale Team has experience dealing with banks and property owners, ask questions.
Ways to Contact Us Direct (530) 921-1063 Laura Reilly
or OnLine
Short Sale Certified by the National Association of Realtors License #01760446
Check Out My Credentials Here
LOOK at REAL short sale approval letters, Homeowners Released and PAID relocation !!
My Neighborhood is Going Down Hill-Redding CA-Short Sale
Short Sales are Not the Same as Foreclosures-Redding CA
Short Sales are Not the Same as Foreclosures -Redding CA
The Redding Short Sale Team writes a great deal about real estate short sales in Redding, and we discuss avoiding foreclosures and their effect on homeowners and our Shasta County Properties.
Short sales are not the same thing as a foreclosure, but for some people looking into moving and selling their opportunities in Redding CA, short sales might be your best bet.
Short sale real estate transactions offer homeowners who are underwater on their property an opportunity to release themselves of their mortgage debt without going into foreclosure.
When a foreclosure occurs, the bank or lien holders take over full ownership of the home.
What happens during a short sale, the homeowners agree to put the house up for sale, but the purchase price is less than what is still owed on the mortgage.
In turn the bank agrees to accept less then the full amount owed on the mortgage.
A short sale is when a lender is being paid off “short”, less than the amount owed.
A short sale takes several months to complete. The sale of the property is not solely left to the discretion of the property owner, as is the case during a traditional property sale in Redding CA.
A offer to buy the real estate must pass through the bank or bank(s) for approval before going into a traditional escrow.
For this reason, short sales can sometimes take months to come to fruition, a process that will require patience by the homeowner, potential buyer and agents involved.
The best advice homeowners need when approaching a short sale is to not go the process alone.
Having the expertise of a property short sales agent at your side can make the entire process as easy as possible in this difficult situation.
The Redding Short Sale Team has experience dealing with banks and property owners, ask us for free advise.
Ways to Contact Us Direct (530) 921-1063 Laura Reilly
or OnLine
Short Sale Certified by the National Association of Realtors License #01760446
Check Out My Credentials Here
LOOK at REAL short sale approval letters, Homeowners Released and PAID relocation !!
Short Sales are not the same as Foreclosures-Redding CA
Short Sales and Housing Shortage In Redding CA
Short Sales and Housing Shortage In Redding CA
A short sale is the sale of property where a seller homeowner agrees to sell the home for less than they owe on the mortgage.
This process is helpful to banks and homeowners alike, this process HAS been far too long for all but the most tenacious of home buyers and can take several months to a year to complete.
But alot of that is about to change.
Starting Nov. 1, Fannie Mae and Freddie Mac the housing giants; gave nine private mortgage insurers the ability to approve short sales and deeds in lieu of foreclosure for distressed homeowners without requiring a separate review.
The amazing move is expected to reduce delays, costs and uncertainty involved in processing short sales and deed in lieu, according to mortgage giant Freddie Mac.
The Redding Short Sale Team applauds the nation’s mortgage insurers for committing to work with homeowners and buyer and the servicers to help more borrowers obtain short sales and other foreclosure alternative.
Short sales and deeds in lieu of foreclosure are important tools to prevent foreclosures and help struggling homeowners.
Are you interested in learning about the short sale process and if it can help you?
Contact us…
Ways to Contact Us Direct (530) 921-1063 Laura Reilly
or OnLine
Short Sale Certified by the National Association of Realtors License #01760446
Check Out My Credentials Here
LOOK at REAL short sale approval letters, Homeowners Released and PAID relocation !!
Short Sales and Housing Shortage In Redding CA
FHA Home Loans Available 3 Years After a Short Sale-Homeowners recover more quickly-Redding CA
FHA Home Loans Available 3 Years After a Short Sale-Homeowners recover more quickly-Redding CA
The ability to get an FHA loan so quickly after a short sale could be welcome news to thousands of homeowners, who are thinking about a short sale, but want to buy another home in the future.
The Federal Government mortgage giants Fannie Mae and Freddie Mac make people wait seven years after a foreclosure, while the FHA will approve home loans after three years, providing the potential buyer has established good credit and the ability to pay back the mortgage.
There is a
Banks-Short Sale to Get Easier Nov. 1, 2012-Redding CA
Banks-Short Sale to Get Easier Nov. 1, 2012-Redding CA
Mortgage loans owned by the real estate giant Freddie Mac will instruct its servicers to move more quickly and efficiently in order to help homeowners and home buyers through the short sale process.
This new arrangement authorizes Freddie Mac to approve short sale real estate transaction or deeds in lieu of foreclosure (DIL) for distressed homeowners with Freddie Mac owned and/or guaranteed home mortgages without a separate and potentially time consuming review by the mortgage insurance company.
This major announcement builds on recent federal government and Freddie Mac efforts to encourage more short sales.