A question we always receive from clients is, “When can I purcahse again after a short sale or foreclosure?” The matrix below shows the mandatory time frames after a short sale, a foreclosure or a bankruptcy.

(Click The Image For Full Size)

If you are facing foreclosure or have any questions regarding a short sale and the foreclosure process, please do not hesitate to contact our team.… Read the rest

Homeowners receiving loan modifications for their primary residence (and noted on their credit report); are now being treated as short sellers by Fannie Mae…even if the homeowner was never late on their mortgage.

In other words: A responsible homeowner, who made their payments on time and received a loan mod for their primary residence will now have to wait three (at least) years before they can purchase their NEXT home (or refi their current residence).… Read the rest

Beginning June 15th, Fannie Mae and Freddie Mac, the nation’s two largest mortgage backers, will implement their new short sale guidelines. With the new guidelines, mortgage servicers will be required to make a decision within 30 days of receiving a short sale offer.  They must also follow the same guidelines for pre-approved shorts sales.  If the lender is not able to complete the review in 30 days, they must update the client weekly and complete their review within 60 days of application.… Read the rest

Whether you are a realtor and have completed even just one short sale, or a homeowner and tried to complete a loan mod with any of the banks, you’ll be able to appreciate this video. It will give you a good laugh.

Short Sale Video

If you are facing foreclosure or have any questions regarding a short sale and the foreclosure process, please do not hesitate to contact our team.… Read the rest

Our team is excited to announce that we’re now expanding into Orange County. We have realized that there is a strong need for experienced short sale agents in the Orange County market place. Orange County Short Sale Experts new website is www.orangecounty-shortsale.com

Orange County Short Sale Short Sale Orange County

If you have any questions regarding short sales, foreclosure or real estate in general, please do not hesitate to contact our team.… Read the rest

With the recent boom in foreclosures hitting the nation, it’s almost certain that if you watch the news or read the news paper, you have probably heard the term “short sale”…But do you really understand or know what a short sale is?  For many, they are still unclear.

Put simply, a short sale is when a lender or lenders, accept less that the full amount due on a loan when the property is sold.  The lender will usually accept the short sale to avoid the time and expense of a foreclosure, but do require that the owner of the property show some type of a “hardship”, or reason that they can no longer afford the home and need to sell.… Read the rest

If anyone is working on a short sale with Aurora Loan Services or has one coming up, here’s some information that will hopefully help.

Their contact number for their home retention group (short sale department) is:

(866) 521-3828

The fax number to send your complete package to is:

(866) 517-7976 Fax

Download the Aurora Loan Servicing Financial Worksheet and Short Sale Package Information

When sending everything, make sure to send as clear of copy as possible and lable each section.… Read the rest