Stop Foreclosure Institute of San Jose Assisting Homeowners in Distress


San Jose CA – The agent you hire to short sale your house should know how to “influence the BPO.”

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

The BPO is another agent’s opinion of the value of your home. The bank will willingly sell your home on a short sale if they think the home is selling for close to its fair market value.

The BPO is what they use to determine the fair market value. But, most agents that do BPOs do a lot of them. They may not spend a lot of time evaluating your home and the value.

Some of them turn in 100-200 valuations a month and not every one is accurate. That is why it is important that your agent make saure they understand what your home is worth.

They should meet the agent at your home and explain what the home is worth. That is called “influencing the BPO.”

An hour spent influencing a BPO will save countless hours later escalating a file or negotiating more offers. Yes, maybe I shouldn’t be saying this. But, it’s true.

If the BPO says the home is worth close to the short sale price, then the short sale will be approved quickly and easily. 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 Sales: An Ounce Of Prevention Is Worth A Pound Of Cure is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – It is very helpful in loan modification negotiations to know the fair market value of your home. You can use the value to convince your lender to accept your loan modification offer.

As an experienced Short Sale Realtor, I can help you determine the value of your home. Here’s how I do that.

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

First, I will look at all of the homes similar to yours that have sold in the last 6 months. I will pick out the 3 homes that are most similar to yours.

Here are a few things that will cause me to pick one home versus another: Home has very similar features, number of bedrooms, and number of bathrooms. I also prefer to use bank owned and short sale properties.

Yes, it is true that bank owned properties usually sell for less than non bank owned homes. But, if your lender denies your loan modification or short sale and chooses to foreclose, then they will be selling the house as a bank owned property.

I might as well use the comparable sales closest to how they will be selling the property. After I pick out the 3 closest comparable sales, then I do a Comparable Market Analysis.

First, I make adjustments to the other sales. For example, if a home has 10% more living space, then I might adjust it’s comparable value by 5-8%.

After I make all the adjustments I average the sales price of the 3 similar homes. That gives me the fair market value of the home.

This process is very similar to what appraisers do, but it is not an appraisal. Rather, it is a Realtor’s Professional Opinion of your home’s value.

The professional terms for it is: Broker’s Price Opinion. The short version is BPO. Is it a good valuation of your home? Well, the banks think so.

In fact, they use another Realtor’s opinion of the value to determine if they should approve or deny a 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 How A San Jose Short Sale Realtor Determines The Value Of Your Home is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – If you are looking to convince your lender to approve your loan modification, then here is a tool you might find useful.

Here is a sample calculator you can use to convince your lender to approve your loan modification.

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

The numbers below are an example. You can get your home value from an experienced short sale realtor, or an appraiser.

Current Home Value: $240,000.

Current Prevailing Interest Rate on a 30 year mortgage: 4.02%.

Current monthly payment on a $240,000 mortgage at 4.02% interest over 30 years: $1,148.57.

What I am offering to repay monthly on my loan modification: $1,400. $1,400 over 30 years will repay a $292,538 mortgage at 4.02%.

That means your bank will actually make $52,538 by approving my loan modification.

Do you think that calculation will make it easier to get your loan modification approved by your bank? I think so. Use it in your negotiations with your lender.

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 Sales: Loan Modification Loss Comparison Calculator is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – In our last post, we talked about how you could contact the entity that owns a loan. But, some people were wondering how they could find out who owned their loan.

“I thought ABC Bank owned my loan. I send them a payment every month”, they told us. Well, here is how to research the owner of your loan.

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

Between 65% and 70% of all loan losses are borne by Uncle Sam. He has direct/indirect ownership or insures against losses thru the following entities: Fannie Mae, Freddie Mac, Federal Housing Administration (FHA), and the Veterans Loan Program (VA.)

Here is how to find out if your loan is owned by any of those entities.

Fannie Mae. http://loanlookup.fanniemae.com/loanlookup/

Freddie Mac. https://ww3.freddiemac.com/corporate/

FHA. Towards the top right corner of the first page of the mortgage, there should be a small square. Inside the square, it will say “FHA Case Number 091-424240-703.” The case number will be different, but it will still be an FHA loan.

VA. On the mortgage, 1-4 pages past the signature page will be a VA Rider. At the top it will say “NOTICE: THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS.” That is a VA loan.

Now you know how to hold your lender accountable. The remaining loans are probably owned by that bank. If that is the case, then you threaten to contact their stockholders. Anyone want to “crash” a stockholder meeting? 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 Sales: How To Find Out Who Owns The Loan So You Can Hold Your Bank Accountable is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – In our last post, we ranted about how the bankers do a lousy, incompetent job on short sale and loan modification negotiations.

Here is how you can avoid suffering under their incompetence. The key is to hold your bank accountable. Here’s how to do that.

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

ell them they can do as good of a job or as bad of a job as they want to on your short sale or loan modification. But, if they do not approve it, and lose money as a result, then you will report them.

Here is an example from an email we sent to a short sale negotiator. (Some of the details have been changed to protect the home seller’s identity.)

1. We have had the property at 193 NE Brock Lane for sale for over 4 months. Any buyer who would be interested in that house knows about it. They have decided not to make an offer.

The current offer is for $230,000. That is the highest and best offer we have received on this house. 2. I do not foresee a better offer coming in.

3. I project that if you reject this short sale and foreclose, then the home will sell for around $200,000. Here is how I came up with that number.

A. The local real estate market is declining by about 5% annually.

B. The foreclosure case is going very slow and will probably run for another 9-12 months.

C. Foreclosures sell for about 10% less than other listings.

4. The loan is owned by Fannie Mae. That means they and every American Taxpayer are the ones that stand to lose $30,000 or more. I will be contacting Fannie Mae, all of the members of congress, and my local newspaper.

I will let them know that you, John Doe, rejected this short sale and caused Uncle Sam to lose (another) $30,000.

Do you see how this holds them accountable? This strategy works for loans mods to. Just run the numbers and see what the projected losses are going to be. 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 Sales: How To Hold Your Bank Accountable is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – Occupy Wall Street Protestors are not having the best success attacking Wall Street and the banks. But, that is because they are complaining about what they think is wrong with the situation.

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

If the protestors only knew the level of incompetence in the banks, then they would have a better argument. Here are some of the glaring mistakes we see the bankers make.

1. Doing an incompetent job on short sales and losing tens of thousands of dollars as a result. We have seen many banks turn down short sale offers only to foreclose on the home and sell it for $30,000 less.

2. Kicking people out of their homes only to lose more money as a result. Many people’s homes have dropped in value.

At the same time their income has dropped. But, they can afford to repay the bank, only a lower amount. But, do the banks make the loan modification process easy?

No. Instead, they kick people that could repay them $200,000 out of their homes and then sell the home for $165,000. Again, tens of thousands of dollars are lost.

Yes, I can appreciate that the Occupy Protestors are angry at how hard it is to get a job. But, what about the Americans that are kicked out of their homes?

What about the taxpayers losing thousands bailing out Fannie Mae, Freddie Mac, and FHA? A large part of that bailout cost is attributable to the lousy job banks are doing on short sales and loan modifications.

I think homeowners and taxpayers getting the raw end of the deal are the silent majority. But, we don’t have time to protest. so, the banks get away with incompetence. Enough of my rant.

Do you want to be part of the solution. Get a loan modification or short sale your home. You will be doing your part to help the economy. 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 Sales: What Occupy Wall Street Doesn’t Know About Bankers is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – The Greeks are finding themselves in hot water. They have maxed out their credit.

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

The government borrowed money and is having a hard time paying it back today. Here is what most people don’t understand about how a national economy works.

When the government reduces interest rates to boost the economy and spending, they are actually only acting as a co-signer on the loan. Here is a real life comparison.

Let’s say a wealthy person has lots of kids. I’ll call him Mr. Wealthy. To boost his kid’s economic activity he lends them money at 1% interest.

However, because he has so many kids, pretty soon he has lent all of his own money. So he starts borrowing money from someone else at 6%.

Pretty soon he has maxed out his credit. In addition, he is also paying the difference in interest payments between 1% and 6% each month. That difference is almost ready to eat up his remaining savings. After he runs out of money; he’ll be broke. Let me ask you a question?

How much longer will his kids be able to enjoy below market 1% interest rates? It doesn’t sound like much longer to me.

This is what happens when a government with a good credit rating borrows money and re-lends it to citizens for below market interest rates.

It sounds to me like Greece borrowed a lot of money from foreigners and is now having a hard time repaying the debt. A bailout from Germany, the EU, and the IMF hasn’t stopped their problems yet.

And it doesn’t look like it will be anything other than a short term band-aid. Many say that when Greece does default it will send shock waves thru the global economy.

Who really knows? Either way, it is still a good idea to get rid of upside down debt with a 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 San Jose Short Sales: Do the Problems In Greece Affect Us? is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – The Stop Foreclosure Institute recently received this question from another agent. Here was his question.

“”Have you had any luck getting short sales done with no deficiency with Bank of America? My seller is a young couple. They received a job transfer but are very upside down on the house. David”

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

A Quick Note: The reason he is asking this question is because Bank of America uses the same short sale approval letter for all their short sales.

A clause in the letter states that BOA and or its investors may pursue the seller for a deficiency judgment. It is a standard, boiler plate letter put together by their attorneys.

Most short sale negotiators refuse to remove that language. BOA’s legal department puts it there because it protects them against lawsuits.

But, if you are a seller then you want to know for sure that you won’t be chase down for a deficiency. If BOA won’t remove that language, then you can’t know for sure whether or not you will be pursued for a deficiency.

Here was our answer to his question. We have convinced them to remove the deficiency language on a short sale. It’s just a matter of requesting it and the owner of the loan being willing to remove it.

(Bank of America doesn’t always own the loan themselves) Ask for an approval letter that states they are waiving all future collection rights.

Also, remind the sellers they also have a risk of being collected from in the future, after the bank forecloses. 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 mikekwcv@gmail.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. mikekwcv@gmail.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: Will Bank Of America Approve Short Sales With No Deficiency? is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – The Stop Foreclosure Institute recently received this question from another agent. Here was her question.

“I was just told by the lender on a short sale that they will have to “close” the file because they buyer’s name changed. They said that due to Freddie & Fannie rules if the buyer’s name changes they require the file to closed and reopened.

That would cause the file to drag out another 60-90 days. It would make sense to simply process the file now rather than wait until later. Why lose all the works that has been done up until now just to do it all again 60 days from now?”

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

Here was our answer to their question. That sounds like a lie to me. Threaten to call Fannie Mae. The phone number is 202-243-5400.

Call them if it takes too long to re-open the new file. Oftentimes, they will re-open the new one in a week. 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 mikekwcv@gmail.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. mikekwcv@gmail.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: Is This Lender Lying To Me? is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – AvoidMYSanJoseForeclosure.com recently received this email from Karen. She had ask the us for some help on a short sale. Here was the email.

I sent an email to the lender on a short sale, utilizing the e-mail address list you provided. The email was sent at 1:43 p.m. this afternoon.

I received the Short Sale Closing Approval at 5:38 p.m. this evening. No promissory notes and no deficiency judgement.

Keep up the fight and thanks again for all you guys are doing! Karen.”

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

Our techniques work to help short sale sellers walk away without promissory notes or deficiency judgments. I wish I received approval letters that quick after sending an e-mail!

We have received them in 2-3 days, but not in a single afternoon. 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 Realtor Has Good Success Using Stop Foreclosure Institute Short Sale Negotiation Strategy is provided as a courtesy to our viewers to help them make informed decisions.

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