Short Sales Can Be Very Stressful Without the Right Help
Published 12-02-10 by Tony HunthausenHuntington Beach, CA – I have had two difficult conversations just this week with folks who were referred to me for short sale advice and help after attempting to short sale their homes with other realtors for several months.
The first case involved a couple who hired a company from a letter they received. This company assured them they were experts with short sales and told the homeowners they would take care of everything. After several months the homeowners were advised to put their home in a revocable trust with a representative of their real estate company as the executor. They said this was to protect their house from the bank. That’s when they called me and I advised them to hold off on signing anything and seek legal counsel. We also found out that low ball fake offers had been submitted to the lender with forged signatures. This so called “expert short sale company” was a total scam.
In the second case the homeowner has been utilizing inexperienced agents for over a year and getting a continued run around from thier lender. A complete short sale package was never submitted and the homeowner didn’t really know if a notice of default had been recieved, or if their was a sale date on the property (that’s when the home is put up for auctioned on the court house steps). At the time I was called, the lender had turned the file over to another company who now says they will make any decision on a short sale. The new company has different forms and everything is starting over. The homeowner is a retired individual who’s income dropped significantly about 2 yrs ago and he is very stressed and frustrated.
When a complete short sale package is submitted properly and followed up on effectively, we are getting our short sales approved and closed in as little as 75 days. The time frame can still vary depending on the lender, but it has certainly shortened up significantly from a year ago.
Thanks for taking the time to read this.
Tony Hunthausen is a Certified Distressed Property Expert with offices in Huntington Beach who also covers all of the surrounding communities. We have recently closed, or currently have listed/pending, short sales in Huntington Beach, Fountain Valley, Costa Mesa, Yorba Linda, and Santa Ana. Our help and consultation is free. We offer a no cost “FREE” short sale to qualified homeowners.
Tony Hunthausen
714-334-7808
Thinking About A Short Sale But Aren’t Sure If You Qualify
Published 11-02-10 by Tony HunthausenHuntington Beach CA – 
Many people don’t think they are eligible for a short sale because they have unpaid homeowner’s association dues. Don’t worry about paying them yourself. When you short sale your home the association dues will be paid by your lender.
Things like homeowner’s association dues and property taxes are typically a very small percentage of the overall short sale value. Lenders know very well that a short sale will almost always net them substantially more money than a foreclosure.
I had an example in the post below. Consider a house that received a $119,900 short sale offer. After the lender rejected that offer, the home was foreclosed on and sold for $96,400. You can see that the lender ended up losing $23,500 by rejecting that short sale offer.
The short sale lenders have run all the numbers on a short sale versus foreclosure. They have high paid actuaries who go through everything. Even if you are short selling a $3,000,000 home the same holds true. The overall numbers are just a lot bigger.
If they have to foreclose, then they want to make sure they get the most amount of money possible. They know that they can recoup their money faster with a short sale versus foreclosing on a house and then reselling it.
Because of that they are typically willing to pay your delinquent homeowners association dues. In addition, the bank pays the real estate agent (they will have to hire a real estate agent when they sell the house.)
They also pay the title insurance and property taxes, because they must be paid in order to sell a house. They have to pay all those costs when they sell a bank owned property.
The Bottom Line: All of the costs are borne by the bank in a short sale. You pay nothing.
Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Tony@HunthausenGroup.com. I will contact you for a free consultation.
When we talk, I will be happy to answer all your questions and explain how the process works in detail. If you prefer, then you can call me at 714-334-7808.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Huntington Beach Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.
Sincerely,
Tony Hunthausen.
Tony is a Real Estate Broker Associate at Remax Select One.
Phone: 714-334-7808. Tony@HunthausenGroup.com.
Helping One Homeowner At A Time
View My homes for sale at www.SellingHuntingtonBeach.com.
Tony Hunthausen specializes in loan modification assistance and short sales in Huntington Beach California. Huntington Beach Loan Modification Help, Huntington Beach Short Sales. Huntington Beach Short Sale Realtor Short Sale Realtor. Huntington Beach CA Short Sales. Huntington Beach Realtor.
Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Hunthausen’s personal views and do not reflect the views of Remax Select One. This information on thinking about a short sale, but aren’t sure you qualify is provided as a courtesy to our viewers to help them make informed decisions.
1 in 8 Orange County Mortgage Holders are Underwater
Published 08-12-10 by Tony HunthausenHuntington Beach real estate/ Orange County real estate statistics compiled by Zillow.com for the quarter ending June 30th indicate that 1 in 8 Orange County single family homeowners are currently underwater. The good news is that this number has improved from 1 in 7 at the end of the first quarter of 2010.
To really put these numbers in perspective, there are more than 470,000 homes in the county that have a mortgage. That translates to almost 57,000 homeowners owing more on their homes then they are worth.
If we look at homes bought during the housing boom nationally at one point 4 of every 10 were underwater. At the end of the second quarter of 2010 21.5 percent of homeowners nationwide were underwater. When we combine LA and Orange Counties, the comparable number is 16.9%.
Overall the numbers both nationally and in the local Huntington Beach Real Estate market have been moving in the right direction, but we have a long way to go.
Are You Having Trouble? ..Don’t Be Ashamed.
Published 12-17-09 by Tony HunthausenA wise one man said: “The only happy people I know with very few problems, are the people I hardly know…”
We understand you or someone you know may be falling on hard times with financing their home. If this is the case please contact Tony Hunthausen for advice or consultation. Being in a ‘Distressed‘ situation as a home owner is nothing to be ashamed about.
Call the Hunthausen Group today to learn your options to avoiding a foreclosure.
www.SellingHuntingtonBeach.com
Specializing in Huntington Beach Real Estate.
