Short Sale Success Story – Elk Grove

“Sometimes it is better to be lucky then good and I was lucky to have stumbled on to Peter and his team”
– Chris Daste, former owner of 9482 Lyndley Plaza, a satisfied short sale client –

Picture of Short Sale Property

Lyndley Plaza, Elk Grove

Please take a moment to listen to a Q&A session with one of Peter’s short sale clients where he describes why doing a short sale was the best option for him and his family and why Peter Parker was the absolute right agent to handle it.
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4 Key Reasons to DO a Short Sale vs. Foreclosure

man weighing options

Weigh your options carefully....

Short Sale Vs Foreclosure

Sometimes you may wonder….

“why bother with the hassle of a short sale when I can just let the bank foreclose…”

I would like to examine the key effects the decision to choose a short sale over a foreclosure can have on your life. (more…)

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How much time do I need to stop my foreclosure?

Hourglass in Bank

Do I have enough time to stop my foreclosure?

In a perfect world we would prefer 30+ days before a trustee sale to give us enough time to list the house, get an offer and submit the short sale package to the bank in order to give the lender enough time to postpone the trustee sale.

Unfortunately we rarely live in this perfect world.

We have, in the past, managed to get a trustee sale postponed with a 2 weeks notice.   Back in November 2010 we received a panicked call from a prospective client who owned a property in Elk Grove, he had received a “Notice of Trustee Sale” while he was out of town (more…)

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How long after a Short Sale before I can buy again?

Home Buyers

How long after a short sale will we need to wait until we can buy again?

This is a complicated question.

The main reason for that is for all the waiting periods I have seen quoted by Fannie Mae (they provide the lending guidelines for conventional loans) and FHA (they provide the lending guidelines for FHA loans) they do allow for exceptions that could reduce the waiting period if the borrower can document extenuating circumstances.  I will go into what would count as an extenuating circumstance in a little more detail at the end of this post….
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Short Sale Success!

“…commit to Peter Parker and his associates, because they will take care of you….”

-Yanni Smyrni, former owner of 43618 Galewood Way in Carmichael, a satisfied short sale client

Galewood property photo

Galewood Property Photo

Please take a moment to listen to a Q&A session with one of Peter’s short sale clients where he describes why doing a short sale was the best option for him and his family and why Peter Parker was the absolute right agent to handle it.

(more…)

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Release of Lien vs. Release of Lien AND LIABILITY on a Short Sale

Head scratcher

Understanding the differences can be a real head scratcher!

When attempting a short sale you MUST always make sure that your Real Estate professional understands the difference between the short sale lender releasing the lien & LIABILITY and when all they do is release the lien.  Not only should your real estate professional understand the difference they should also be working towards having your debt COMPLETELY discharged and working towards this goal from day one! (more…)

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How much will a short sale cost me?

Short Sale Help

Short Sales Help

That’s a question we hear from our clients all the time and unfortunately, like everything else related to foreclosures and short sales, there seems to a be a lot of conflicting information our there.  One of the biggest questions they have is “who pays the short sale closing costs?”….

In our experience when our clients do short sales they have ZERO out of pocket costs, their lender pays the short sale closing costs, releases them of ALL future liabilities related to the balance owed (deficiency) and they have NO tax liabilities.

Lets take those points one at a time shall we?  “ZERO out of pocket costs”….  Usually when you sell your home you would have all sorts of closing costs associated with the sale of your home, the same is true of a short sale…. (more…)

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Another Short Sale Success

“…. you were very clear on how the process would work and your communication was impeccable….”

– Sean Shaghaghi, former owner of 2808 Crested Street, a satisfied short sale client –

Crested Street - property photo

Picture of 2808 Crested Street

Please take a moment to listen to a Q&A session with one of Peter’s short sale clients where he describes why doing a short sale was the best option for him and his family and why Peter Parker was the absolute right agent to handle it.

Q: Why did you choose a short sale versus just letting the property foreclose and walking away from it?

A: Listen to Sean’s answer (more…)

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HAFA Guidelines Eased – Will it make a difference?

On December 28th the Treasury department released updated guidelines to it’s supremely under performing HAFA program, after the California Department of Real Estate sent a letter to the Treasury outlining the specific problems and suggested solution for the embattled program.

Below are the old HAFA guidelines with the changes marked in red:
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Wells Fargo “$2B” Settlement – Just some more PR Folks….

Wells Fargo Lender FraudIf you have been reading the news you may have noticed that on December 20th the California Attorney General’s office announced a settlement with Wells Fargo that “COULD” be worth $2 billion to Californians with adjustable rate mortgages.
I am afraid I did not do more than glance over the entire 27 page settlement, which you can find here if you are so inclined, however seeing as I am no attorney thats probably a good thing.  Ron Ballard, “the California Short Sale Lawyer” is just the man to parse through this document and tell us the truth of the matter.  For his full write up visit his site HERE.

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