San Jose CA – The Stop Foreclosure Institute recently received a question from Kathy. “Why would I short sell my house instead of saving the monthly payments and letting it go into foreclosure?” Kathy asked.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Here is our answer. If you stop paying your mortgage, then you can live in your home rent free for 12-24 months, depending on the state you are located within.

I have seen lenders wait a year after the first missed payment just to file for foreclosure. Yes, you can live in your house for free for a long time. However, a short sale has many advantages over a foreclosure.

It does less damage to your credit and allows you to buy another home in 3 years versus the 5-7 years after a foreclosure. In addition, you can get some money as an incentive for doing the short sale.

If you want the benefits of both, then stay in your home until the foreclosure case has been started. Then, start working on a short sale agent. A short sale can take anywhere from 3 months to even 6-9 months to process.

This will allow you to salvage your credit and live “rent free” for 12-24 months. You will be able to wipe out all that upside down debt and move on with your life.

Best of all, you will be eligible to buy another home in 2-3 years once you are back on your feet. 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 sccrealestatepros@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 408-977-1700.

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
Phone: 408-977-1700
sccrealestatepros@gmail.com

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

This information on San Jose Short Sale Question: Why Would I Short Sell My Home Instead Of Saving The Monthly Payments & Letting It Go? is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – Many people short sale because they are having financial problems and can’t afford their home. Financial problems also means that you get lots of calls from debt collectors.

Here is a scary story about a guy who was ripped off by a debt collector. The debt collector asked if he could pay them $500. He wanted to do the right thing. So he agreed to pay the $500.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

The debt collector sent him a form to make the payment thru his checking account. He filled out the form and signed off on it. The debt collector proceeded to completely drain his bank account.

They sucked out $1,800. This caused major financial problems for this guy. He couldn’t afford gas to get to work. But, it was all completely legal because of the fine print on the bottom of their form.

The moral of the story? Never give any of your financial information to a debt collector or anyone. If you do send money to a debt collector, then use a payment method that can’t be tracked.

A money order is a good option. Money orders keep all of your bank account information private. You can buy one with cash or a debit card. The debt collector will never get your account information.

Never give any of your financial information to a debt collector. Do not send them info on your checking account, savings account, IRA, 401k, or any other financial account you have.

Many state and federal laws often give a debt collector permission to take money out of your accounts, with or without your permission.

Unless you are a lawyer, you won’t know if or when they can take money. So you are simply better off never giving them your info. The debt collection company that I mentioned above is based out of Colorado.

I don’t remember their name. They tried to collect from another person I know. They were very pushy. They only wanted his checking account info.

They wouldn’t accept any other payment method. It appears they use that tactic on everyone they call. I hope this helps you in your situation. 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 sccrealestatepros@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 408-977-1700.

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
Phone: 408-977-1700
sccrealestatepros@gmail.com

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

This information on San Jose Short Sale Help: Don’t Let Debt Collectors Rip You Off is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – Many people are embarrassed that they are short selling their house. They feel like a failure. Others think that they are somehow being dishonest or shady.

Neither one of those is true. A lot of the people short selling today never had a blemish in their credit. They lived responsible financial lives.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Then the real estate market crashed and left them owing hundreds of thousands of dollars more than their home was worth. For years everyone had told them that couldn’t happen.

Many of those people also lost their job for the first time in their life. It’s interesting because today we are seeing as many short sales in the upper income brackets as the lower income brackets.

I’m not judgmental of someone who is short selling their home. I deal with people from all walks of life. Some are high income. Others bought less expensive homes. Either way, it doesn’t matter to me.

I see a short sale as a smart financial decision. I’ll be congratulating you instead of judging you.. Who wants to be burdened with a huge debt for the rest of your life? Not me. And neither should you.

Here is why a short sale is a smart financial decision. Let’s say that you are upside down on a house by $100,000. (If you upside down by an amount lower than $100,000, then don’t laugh. Many people are upside down by that amount and more.)

Repaying $100,000 over 30 years, will cost you $215,000. That is the $100,000 originally owed, along with $115,000 in interest payments. The number varies according to your interest rate.

What if instead of repaying that money, you put that money towards retirement? Let’s say you took that monthly payment and invested it as an 8% Interest Rate.

At the end of 30 years you would have $804.545.01 saved up. Wouldn’t that be helpful in retirement?

That is one small reason I recommend short sales to my customers. You can get the upside down debt forgiven in 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 sccrealestatepros@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 408-977-1700.

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
Phone: 408-977-1700
sccrealestatepros@gmail.com

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

This information on Why You Shouldn’t Be Embarrassed To Short Sale Your San Jose Home? is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – Let’s say a friend owes you a thousand dollars. They come to you with a sob story about how they are broke and cannot afford to repay you.

“I am so broke that we are about to lose our car. And the electricity was turned off last month when we missed the payment. I can’t even afford diapers for our son”, they tell you.

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

You tell them just to forget about the debt. “Don’t worry about paying me back. I don’t want to be a burden on your family”, you tell them.

A few days later you are scanning Face book and see pictures of them on vacation in Miami. You realizes they had lied to you. It’s obvious that they weren’t broke if they could afford a fancy vacation in Miami. How would you feel?

I tell this story to make my point. Are you trying to convince your bank to approve your short sale and allow you to walk away from your debt? Well, why should they do that?

Lenders and debt collectors may look you up on Face book. If they see you went on a fancy vacation, then they may not forgive the debt.

They tell you, “It’s obvious that you are doing well financially. I just saw your Face book profile and the pictures of you on vacation at the Ritz Carlton in Miami. We aren’t releasing you from the debt.”

Not a fun ending, is it? If you are considering a short sale, then watch what you post on Face book, Twitter, etc. 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 sccrealestatepros@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 408-977-1700.

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
Phone: 408-977-1700
sccrealestatepros@gmail.com

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

This information on Be Careful What You Post On Face book When Trying To Short Sell Your San Jose Home is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – The Stop Foreclosure Institute recently received a question from Daniel. Here was his question.

“I am trying to buy a short sale property. I put my offer on the property a few months ago. The property was priced about 50% lower than the other homes in the area.

The bank finally approved the short sale. However, they said that I have to pay the back taxes, unpaid homeowner’s association fees, and the seller’s closing fees.

I agreed to do that because the home was such a good deal. However, now that I’ve agreed to that the bank won’t get back to the agent.

Now the agent is saying that they won’t approve the sale price even with my paying all of those costs. I don’t understand what is going on? Please help. Daniel.”

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

Here was our answer to his question. Daniel, it sounds like you are frustrated. Here is the reason that your offer is not being accepted by the short sale lender.

You mentioned that the house is selling for much less than other homes in the area. It must be worth more than what you offered. Otherwise, you wouldn’t have been willing to pay for all of those other costs.

The bottom line is that bankers are not idiots. They have a number of different things they check before they approve a short sale. One of those is the fair market value of the home.

They will usually order and appraisal to check the value. It sounds like they took a second look at the appraisal and realized that the home was selling below market value.

If you really like the home, then you can see if they will accept an offer closer to the appraised value. Or, keep shopping for another home. 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 sccrealestatepros@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 408-977-1700.

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
Phone: 408-977-1700
sccrealestatepros@gmail.com

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

This information on I Want To Buy A San Jose Short Sale Property. Why Is It So Difficult? is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – It is possible to sell your home if you have multiple mortgages. But, it can be difficult. This is something many short sale homeowners have to consider because they have multiple mortgage.

All the mortgages on the property will have to be satisfied before you can give clear title to the buyer. But the most important negotiation is the one which has to be made with the lenders; which will be two or three in case of multiple mortgages on your home.

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

Negotiating with two or more lenders might seem to be an intimidating task. But, you do have a strong negotiating position because second mortgages typically receive nothing if the home is foreclosed by the primary lender.

It is also possible for the first mortgage company to reject a short sale offer if they thinks that they can do better with a foreclosure. Most second mortgages lien on the property is wiped out in a foreclosure.

They will opt for that if the second mortgage is demanding to much money to approve the short sale. A second or third mortgage is called a junior mortgage.

(Third mortgages are rare. We have never seen a fourth mortgage on over 100 short sales we have worked on.)

The junior mortgage received a much smaller percentage of whatever they are owed. Most of them agree to the short sale with them being paid $3,000, and sometimes less than that.

The easiest second mortgage negotiations are short sales of piggyback loans. A piggy back loan is the junior mortgage when a single bank issues two mortgage against the same house.

This was very common during the housing boom. The loan officers at many banks offered this combination to borrowers. The costs were usually lower than getting just one mortgage and the banks agreed to the loans.

This piggy back loan is the second mortgage which is written off by the same lender as of the first mortgage. In this case the realtor or the home owner will be able to negotiate with a single person at the bank that is handling the two loans. 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 sccrealestatepros@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 408-977-1700.

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
Phone: 408-977-1700
sccrealestatepros@gmail.com

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

This information on San Jose Short Sale Question: Can I Short Sell My Home If I Have More Than One Mortgage? is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – A recent episode of the hit TV Show, Burn Notice had an important lesson. The star of the show is a no nonsense spy named Michael Westen.

A guy calls him and tells him that some bad guys are after both of them. Michael says that in spy work you learn that a hot lead needs to be followed up on right away.

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

“I’ll be right over”, he tells the guy. Then, he rushes over to the guy’s place to meet with him. He shows up to find the guy has been murdered. He lost out on any information he could have gotten from him.

I think we have all learned that lesson. Sometimes in life things need to be dealt with right away. If not, then you miss your opportunity.

This happens in real estate, sports, and most people’s work. If you delay, then the opportunity will be gone forever.

So, how does that lesson relate to short sales? There are certain times during the short sale process where you have to drop everything and rush to get something completed. Here is an example.

Everything has been completed for a short sale negotiation. You have sent the bank everything they have requested up to that point.

The bank has all of the information they need to make a decision on the short sale file. The bank’s short sale negotiator contacts you and tells you that the short sale will be approved.

However, the buyer needs to pay $364,000 for the house versus the $360,000 that was offered. In addition, they need a certain document from the short sale seller.

Then, they give you the deadline. “If I don’t have this stuff within 3 days, then I will close the short sale file”, they tell you. After that you rush to get everything completed.

It usually takes 30-60 days of hard work for us to have gotten to this point. We know that if we don’t get the short sale negotiator what they want, then we will have to start the entire short sale process all over again.

We will have wasted 30-60 days and put our seller at greater risk of losing their home to foreclosure. So, we get to work right away and track down all that information.

If we can get the necessary items, then the short sale will be approved. But, if not, then all our work will have been in vain and we will have to start the process all over again. 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 sccrealestatepros@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 408-977-1700.

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
Phone: 408-977-1700
sccrealestatepros@gmail.com

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

This information on A Spy’s Advice On How To Be Successful With San Jose Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

San Jose CA – This short sale program is ideal for someone who needs to move to an affordable home and cannot afford to pay their current mortgage payment.

HAFA will provide you with free advice from HUD-approved counselors and the sale will be less harmful to your credit than a foreclosure or the typical short sale procedure.

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

You also will be paid $3000 to pay for relocation costs. If you qualify for HAFA, then your mortgage company will work with you to short sell your home.

The good news is that HAFA guidelines stipulate that after you sell your home, then you are released from the debt.

This is the biggest reason some people choose the HAFA short sale program versus a conventional short sale.

To qualify for The HAFA program you must be suffering from a hardship (loss of income, increased mortgage payment, etc).

It is unlikely that you will qualify for the program without a hardship. The mortgage that you owe to the bank or to a third party must be less than $729,750 and for your personal residence.

In addition, you must have obtained your mortgage on or before January 1st, 2009. Your mortgage payment, taxes and insurance payments must not be more than 31% of your total monthly income, and you should not have bought any property in the last 12 months.

The program requires you to apply for the Home Affordable Modification Program (also known as HAMP) before moving forward with the 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 sccrealestatepros@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 408-977-1700.

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
Phone: 408-977-1700
sccrealestatepros@gmail.com

Helping San Jose Families Avoid Foreclosure

Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

This information on San Jose Short Sales: What Is The HAFA Short Sale Program And How Do I Qualify? is provided as a courtesy to our viewers to help them make informed decisions.