Does My Huntington Beach Short Sale Have To Be Approved Before I Put It Up For Sale?

Published 01-28-11 by Tony Hunthausen

Huntington Beach CA – We often get asked if a short sale is even worth the effort. “Do I need to have my short sale “Approved” by my lender before I put my home on the market?” one seller asked us.

“When I called my lender they wouldn’t talk to me about my short sale. I am concerned that they might do that when I finally sell the property and I’ll never get the short sale approved.”

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here was our answer. Most lenders will not talk to you about a short sale until you have several things in place.

They want a solid offer from a pre-qualified home buyer along with all the necessary financial documents. Why do they do this?

Because they only want to process short sales that will sell and close. Now, I think it’s a stupid way to do things. Instead of refusing to negotiate short sales until there is an offer on the table, they should instead pre-approve short sales.

It would make the process so much easier. A home could be placed on the market at a set price. Buyers would be more interested in the property because they know they can get an answer in 2-3 days versus 2-3 months.

We have brought this up with Matt Vernon, the Vice President of Bank of America’s Short Sale Department. He knows there is stuff to improve.

But, it’s hard to change the course of a huge company with so many different parties involved. Despite all this, experienced short sale agents are getting short sales approved every day.

The Short Sale Process is getting better and easier to navigate. More and more lenders are moving towards “Approved” Short Sales.

You just need to find a good short sale realtor that can navigate their way thru the crazy short sale process. 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 explain how the process works in detail and answer any questions you may have. Or, if you prefer, 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 bank. Click here to request a copy.

Thanks for reading this, Tony Hunthausen.

Tony is a Real Estate Broker Associate at Remax Select One. Huntington Beach Short Sales Realtor:

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 Tony Hunthausen’s personal views and do not reflect the views of Remax Select One.

This information on Does My Huntington Beach Short Sale Have To Be Approved Before I Put It Up For Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Another tip to improve the odds of your short sale offer being approved

Published 01-28-11 by Tony Hunthausen

Huntington Beach CA – If you are selling your home, then ask the buyer to write a letter about why they want to purchase the home. If you are a buyer, then write that letter.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

The listing agent will submit that letter along with the short sale paperwork. With a little luck that letter will help “grease the wheels” and cause the short sale to be approved faster.

Short Sale negotiators are human beings. They have emotions that can be touched by a good story.

These letters might sound like a joke, but they can make a huge difference. I’ve even seen home owners lose money on their sale because they liked a certain buyer over another one.

In that case, the seller sold their home for several thousand dollars less to a buyer that they liked. The other buyer had been rude and the seller didn’t like them.

If that made a difference when the seller was losing their own money, then think about the difference it will make to a short sale negotiator who isn’t losing their own money.

Put a good story in your letter. Here are a few examples.

You might say something like this: “We are a first time home buyer looking for our first home. We just want to move out of our cramped apartment and are looking forward to our first home where we can plant a garden.”

Or, maybe it would be like this: “We have looked for a while and finally found this home on Elm Street that we love. We are selling our current home so we can buy a house with a yard.

Our two boys, Tim and Julian, have been begging us for a swing set. We never had room in our old condo.

If you approve our short sale offer, then we will finally be able to give them the large, fenced backyard they’ve always wanted with a swing set.

We’ve already picked out the swing set plan and Tim and Julian are so excited about it. So, don’t approve the short sale offer for us, approve it for them.”

See how I’m pulling the negotiator’s heartstrings. Unless your short sale negotiator is absolutely heartless, it will make a difference for you. 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 explain how the process works in detail and answer any questions you may have. Or, if you prefer, 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 bank. Click here to request a copy.

Thanks for reading this, Tony Hunthausen.

Tony is a Real Estate Broker Associate at Remax Select One. Huntington Beach Short Sales Realtor:

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 Tony Hunthausen’s personal views and do not reflect the views of Remax Select One.

This information on Another tip to improve the odds of your short sale offer being approved is provided as a courtesy to our viewers to help them make informed decisions.

Huntington Beach Short Sales: Can I Short Sale If I Have Substantial Assets & Good Income?

Published 01-10-11 by Tony Hunthausen

Huntington Beach CA – The Stop Foreclosure Institute recently received a question from Dave. Here is Dave’s Question.

“I bought several investment properties at the peak of the market. The homes have dropped in value by almost 40% and I am losing money on the rent every month.

I am sick of writing a check every single month to cover the loss. I would like to short sale these properties if possible. I am just wondering if the banks would allow it. What do you think?” asked Dave.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here was our answer. Dave, there is no answer that is correct 100% of the time. In your situation, it depends on your lender. Many lenders will allow a short sale.

Others won’t talk to you until you are behind on the payments. I do know a friend of a friend who is in a situation very similar to yours and is short selling several properties.

He has substantial assets and a good income. Some of the banks were easy to work with. He was able to stay current on the payments until they approved the short sale.

However, some of the other banks weren’t as easy to work with. He had to stop making payments before they would talk to him.

It all depends on the bank and how much you want to short sale. I know several people that write big checks every month just trying to stay afloat on their rental properties.

If you aren’t planning on buying another house for 2-3 years, and want to stop the bleeding, then a short sale is a great option.

Attempt a short sale doesn’t cost you any money. If they don’t approve the short sale, then you are exactly where you are at today.

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 explain how the process works in detail and answer any questions you may have. Or, if you prefer, 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 bank. Click here to request a copy.

Thanks for reading this, Tony Hunthausen.

Tony is a Real Estate Broker Associate at Remax Select One. Huntington Beach Short Sales Realtor:

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 Tony Hunthausen’s personal views and do not reflect the views of Remax Select One.

This information on Huntington Beach Short Sales: Can I Short Sale If I Have Substantial Assets & Good Income? is provided as a courtesy to our viewers to help them make informed decisions.

Short Sales Can Be Very Stressful Without the Right Help

Published 12-02-10 by Tony Hunthausen

Huntington 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

Tony@HunthausenGroup.com