Shortsalenurse's HAFA Blog

December 2, 2009

Changes in the Short Sale Process , Obama Summons Bankers?

Based upon information in two articles the following facts have been established.  Assistant Treasury Secretary Michael Barr stated the Administration has summoned executives from the largest mortgage companies to Washington in the first week of December to explain the poor performance of Banks to do loan modifications.  This is of course not helping  families stay in their homes.  There seems to be a concern to how rising unemployment which is creating more foreclosures can be addressed.

There is some industry and Government discussion of how some loans are considered for principle reductions but others are not. This of course is creating a situation where clients do not feel they are being treated fairly according to the articles  being published in the news papers including the Wall Street Journal.

Also on Monday the Treasury Department laid out additional guidelines for the Foreclosure Alternative Program that established a short sale protocol.  This is very important as financial support to the banks and mortgage servicers is tied to this program.  The most important change is borrower must be FULLY RELEASED from future liability for the debt according to the guidelines.   This could soften the effect of losing your home and possible future legal demands for the debt that is short sold.   This could in fact be the very best  news to come out of Washington in the recent months for people who are behind on their mortgage.

Everyone at Short Sale Nurse stays as current on  changes in policies that can effect our clients.  Anyone can tell that our economy is still in a state of change,  and we highly agree with the position of the California Association of Realtors, that position is,  clients should consult an Attorneys and Tax Professionals before committing to a Short Sale, every situation is different.


Short Sale Nurse is a group of deticated Realtors serving the needs of clients in all of San Diego County and is capable of putting you in touch with Keller William Agents all over the United States to fill your Real Estate needs.  We are located at 4700 Spring Street La Mesa CA. 91942
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September 29, 2009

Public Records Available For Free

GeorgeGrayBG1 As our city works it way through the volume of    distressed  properties many property owners want to know what their homes are worth.   To give an exact figure is almost impossible but public records of  Sales, Pending Transactions and even Notices of Default are available.   They are “FREE” for the asking all you need to do is e mail a staff member at Short Sale Nurse .   One of the more popular services that we offer to our clients is a  “SOLD” register.   All you need to do is give us your zip code,  home square footage and an e mail address and as soon as something in your size category sells in your zip code,  a notice will be sent to your e mail box.   No Phone Calls,  no hassle just the notice sent the day after the property closes.

This article was written by George Kenner, Broker Associate at Keller Williams Realty in La Mesa.   All marketing is inspired by Kalabash Marketing,   “Good Night Mrs. Kalabash where ever you are.”

July 3, 2009

Short Sales in San Diego’s East County, Jamul

 

This  week  I was speaking to a  friend that has fallen behind in his mortgage and does not see a way to get clear of the problem.  He has selected to try and sell his home and find something that more closely fits his needs.  The problem is that he does not have enough value in the property.   Thus he thinks that a short sale is the way to solve his problem if he can get the approval of the bank.

 

He told me he was feeling terrible having a hard time sleeping and was not eating well,  trying to save every penny he could.  He even told me that he was taking cold showers and was not watering his trees or washing his car to save on his water bill.  He told me that he wondered why he was living.  

 

At this point I told him to come with me.  We walked over to the computer and I opened one of the foreclosure data support sites and put in his zip code.  Then I made a circle around his home of about a  3 and a half mile radius.   I clicked on populate data and the pins on the map showed up.  There were 48 other people in the same situation.   He could graphically see the problem and said to me I had no idea the problem was this bad in Jamul.

 

Him seeing that he was not the only person struggling in a way made him feel better.  He asked me to print the map so he could send it to his Congressman to show him what is happening in our communities.  I did as he requested and then printed the President’s Foreclosure Alternative Plan and gave it to him.  I showed him some people are working on this issue.   I told him to hold his head high, he had good reasons to live, his children wife and community are just a few of the reasons.  

 

If your in a similar situation and want to see what is happening in your area please contact one of us at Short Sale Nurse,  we may just have the medicine that will make you feel better.

 

Written by George Kenner,   George is a California Real Estate Broker with 19 years of industry experience.

June 23, 2009

A Little Empathy, Advertising for Short Sales

Marketing is part of what we do but is there any reason to lose compassion?  I am going to share this story because it is the right thing to do.  Today I went to a listing presentation and was complemented by the future seller of the property for being understanding. The marketing piece I sent was “ Short Sale Specific” but it did not announce that I discovered  he was in trouble with his own mortgage payments , let alone that his “Notice of Default had been filed by the lender.   As many of you know that is a required document to be filed with the County where you live.  This is how lenders, investors and Realtors come to learn about a client’s possible needs.

 

Instead I always ask if the person I am mailing to knows of anyone in trouble.  Why would I want anyone’s friends, parents, or children seeing that they have a problem and that they are doing the best they can do to handle.  If I don’t  address them specifically (by name)  in  my marketing  they have a plausible deniability.  I say let the people hold their pride, being late on your bills can be devastating to someone who has gone years with perfect credit, only to be swept up in this economic disaster.

 

Not everyone that gets a “Notice of Default” has the inability to make good on their debts.  This is one of the best reasons that President Obama’s “Foreclosure Alternative Plan” makes so much sense.  It encourages people to go try and work out the problem now before  it is to late to get any help.

 

I encourage my fellow professionals to consider who they are mailing official looking notices to and announcing that they are “IN DEFAULT”.   People will still do business with you if you don’t scare them.  In fact you may find that even more people will do business with you if your really looking out for them.

 

George Kenner is a licensed California Real Estate Broker with 19 years of industry experience.

 

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