Short Sales

Another Bill to Speed Lender Response to Short Sales Leaves Realtors Cautiously Optomisitc – Selling a Home in Ventura County

by Gary and Lisa Schoeffler April 14, 2011 Short Sales

A new bill to improve the process for approving short sales may soon bring relief to distressed home owners who are unable to keep their homes and hope to avoid foreclosure. The bill, introduced in the U.S. House yesterday and strongly supported by the National Association of Realtors®, would impose a deadline of 45 days …

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Has the Time Come to Get a Smokin’ Hot Deal on a Short Sale? – Short Sales Ventura CA

by Gary and Lisa Schoeffler April 7, 2011 Short Sales

Is it possible that the time has finally come for investors to buy short sales and get smokin’ deals? Over the past year or two, it has become increasingly more difficult for investors to purchase short sales for cents on the dollar. Banks see the properties listed for short sale as pristine and scarcely want …

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Wells Survey: Americans Still Respect Their Mortgage Obligation – Ventura Real Estate

by Gary and Lisa Schoeffler April 6, 2011 Short Sales

“Has our moral fiber decreased as a result of this crisis?” Zakrajsek asked. “I would say the answer is no.”

In addition to their sense of obligation to pay, the majority of respondents still believe buying a home is a good investment and part of the so called “American Dream of Home Ownership.”

via nationalmortgagenews.com

We agree! …

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Government Programs not Having a Huge Impact on Short Sales: Ventura Short Sales

by Gary and Lisa Schoeffler April 3, 2011 Short Sales

About a year ago, the Obama administration launched two new prongs of its foreclosure-prevention effort, trying to crack two of the toughest problems that have emerged from the foreclosure crisis.

Neither has had much of an impact, according to data released Friday by the Treasury Department.

One piece was designed to help modify second mortgages such as …

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JPMorgan Refuses Loan Modifications for Those Who Can Make the Payments: Ventura Real Estate

by Gary and Lisa Schoeffler April 3, 2011 Sellers

WASHINGTON (CNNMoney) — The head of JPMorgan Chase said Wednesday that banks would not consider writing down mortgages for homeowners who can make payments, an idea at the center of talks aimed at fixing the mortgage mess.

“Principal writedown for people who could pay their mortgages? Yeah, that’s off the table,” JPMorgan Chase (JPM, Fortune …

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HAMP is Ineffective: House moved to kill HAMP – Mar. 29, 2011: Ventura Short Sales

by Gary and Lisa Schoeffler April 3, 2011 Legal Updates

The program taps the federal bailout that saved the big banks, providing incentives to mortgage servicers to modify mortgages for borrowers behind on their payments.

“To many struggling Americans seeking permanent mortgage relief, HAMP offered little more than false hope. More homeowners have been kicked out of the program than have received permanent relief,” Rep. Darrell …

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photo of capitol building

New California Law offers Relief from Deficiency Balances

by Gary and Lisa Schoeffler January 22, 2011 Legal Updates

Image via Wikipedia

If you have been resisting a short sale on your home out of concern that the bank will come after you for the deficiency, you are not alone!  SB 931, effective January 1, 2011, will resolve that issue for many California homeowners.

With passage of SB 931, after the short sale of a …

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J.P. Morgan Chase to stop foreclosures

by Gary and Lisa Schoeffler October 1, 2010 Real Estate News - Hot topics

Image by Getty Images via @daylife

Have you heard the buzz about Chase Bank stopping Foreclosure?

Since we received more than one phone call yesterday asking what we had heard about Chase Bank stopping foreclosures, we are posting this information for your review.  We have pulled information from several sources.  It appears to be immediately affecting judicial …

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Ventura Real Estate: Don’t Be Afraid of a Short Sale!

by Gary and Lisa Schoeffler September 14, 2010 Short Sales

Download now or watch on posterous

Ventura_Real_Estate-_Don’t_Be_Afraid_of_a_Short_Sale!.mp4 (5181 KB)

Ventura Real Estate:  Short Sales require some patience and a willingness to fix the small stuff yourself, but they can be done and there are some great values in the short sale market.

Posted via email from venturarealestateexpert’s posterous

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New Short Sale Guidelines go into effect.

by Gary and Lisa Schoeffler April 6, 2010 Short Sales

Hope for short sales is on the horizon.  The Home Affordable Foreclosure Alternatives Program (HAFA) went into effect yesterday  and is designed to streamline the process and reduce the backlog that is plaguing lenders.

It should be noted, however, that the HAFA Program applies to loans that are not owned or guaranteed by Fannie Mae or …

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