Lawyers Realty Group

Hello, that is Derik Lewis with Lawyers Realty Group and we’re :k1:’s main short sale team. I often here that California is a non-deficiency state, and that’s not really true. Lenders in California have the right to hunt deficiency judgments and sure lenders are allowed to sue for unpaid balances for a interval of 4 years after default. What we do have in California are the anti-deficiency laws. They bar lenders from seeking deficiencies. They really begin with CCP 726 it is the inspiration of the anti-deficiency laws. 726 says [that a] lender would need to go after a property earlier than the lender might sue you on the note.

My First Short Sale

Good day and welcome, my name is Kevin Kauffman and this is Fred Weaver. We’re Group 46:10, and we’re a real estate group in the higher Phoenix, Arizona space specializing in short sales. At present we wish to speak to you particularly about short sales with PNC Bank.

Among the a lot more creative defenses to a foreclosure lawsuit that has surfaced in the past year is that of requesting the foreclosing bank to prove that it owns the mortgage note and has standing to sue the homeowners. In the vast majority of foreclosure actions, banks do not produce the original note, instead relying on the ignorance of homeowners not to challenge the bank’s positions.

The federal government were to have saved us all from the housing crisis. They had been going to stabilize high prices, make housing affordablefor low income borrowers, and help foreclosure victims stay in their homes.Nearly half a dozen plans were put into place to ensure that borrowers could not only prevent foreclosure but keep on borrowing money tobuy or refinance properties. What went wrong?

In accordance with a brand new report by Fitch Ratings, between 65% and 75% of modified subprime mortgages might redefault within twelve months of the modification agreement. This really is despite efforts by the governmentas well as the banks plus the servicing organizations tosupply help (some of it by taxpayers). But what is the real challenge with these modification plans — why do homeowners fall behind again so soon?

Although many homeowners who read this article would ideally want to save their home from foreclosure, this may not often be the best answer to a financial issue. But too typically, the emotional attachment that owners have to a property is powerful enough that they want to keep the home, even if the program they use to save it isn’t reasonable for the long term.

Most borrowers really should utilize various options to stop foreclosure, but even just before deciding on a plan of action, they ought to determine no matter whether the house is worth saving or not. Depending on the answer to that question, their plans to deal with the property and also the foreclosing lender is going to be drastically different.

Can’t afford your home and considering a short sale, or even foreclosure?? Does “deed in lieu of foreclosure” sound familar?  A deed in lieu of foreclosure is another, often lesser known option of getting out of your home and minimizing the damaging results to your credit, and costs to the lender.  Foreclosures in Gilbert Arizona and surrounding areas have beeen some of the hardest hit in the country.

My First Short Sale

Hi! Welcome to Group 46:10′s short sale website. We are Kevin Kauffman and Fred Weaver, Arizona’s foremost short sale realtors. There are lots of good pieces of information on this website to help Arizona home owners stay informed or get up to date regarding short sales in Arizona. We have closed greater than 300 short sales over the previous few years at a fantastically high success rate. So, we have lots of good quality information to communicate with you.

Short Sales Done Easy

We wanted to speak to you at the moment concerning something that is very genuine. We all have deep rooted fears in life. When I go on listing presentations I talk to folks concerning their fears in the short sale world. Present are lots of worries that people have with a short sale. They include worries regarding what a short sale will do to their credit. They fear what neighbors will think of them for doing a short sale. The neighbors may think that they are taking the easy way out. They in addition have worries from the bank. What might the bank do to them? Will the bank sue me for the deficiency or decided to foreclose. One thing I like to remind my clients of is that the fear may get to you if you allow it.

Short Sale Power Hour

Last Friday we spoke about a commission disagreement with Condor Capital. They are not really a servicer of loans. They are actually a buyer of loans. They call themselves a scratch and dent lender. It turns out that Condor Capital goes out and purchases up the worst loans out there for a specific fraction of the outstanding balance. Then they pass them off to their loss mitigation team and try to turn a profit. They do this through completing short sales and additional techniques.

Short Sale Power Hour

First and foremost, remark on today’s video at shortsalepowerhour.com and you will have the chance to be entered into a drawing for complimentary flip flops from the team at Group 46:10

We are going to talk about a commission dispute that we had on a file that was being handled by Bank of America. The investor on the file was HSBC. The folder was rejected in spite of the offer being the same as the BPO. We came to find out that they sold the mortgage to Condor Capital.