Real Estate Information

Tracy CA – The Stop Foreclosure Institute recently received a question from David. Here was his question.

“I lost my job and am burning up my savings very fast. At the current rate I will only be able to pay my mortgage for a few months more. My lender won’t talk to me about a short sale because I am current on the payments.

I am trying to maintain my credit and don’t understand why they won’t consider a short sale until I am delinquent on payments. What is going on? David.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to his question. Some banks just won’t consider a short sale until you a behind on payments. It’s just the way it is.

In my opinion, if you are not employed then saving money is more important than salvaging your credit. Perfect credit won’t do much good when you can’t afford to keep food on the table or pay the light bill.

But, you need to make a decision based on what is most important to you. I can’t make that decision for you. I will tell you that I would save my cash until I got a job.

The foreclosure process will drag out for 6-12 months in most states. You can live rent free until you short sale. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail atfrank@thesilveriateam.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 209.835.9300

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Tracy 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, Frank G. Silveria III.

Frank G. is a Real Estate Agent at Taffeco Real Estate.

Phone: 209.835.9300. frank@thesilveriateam.com.

Helping Families One Home At A Time

View My homes for sale at www.thesilveriateam.com.

Frank G. Silveria III specializes in loan modification assistance and short sales in Tracy California. Tracy Loan Modification Help, Tracy Short Sales. Tracy Short Sale Realtor. San Joaquin CA Loan Modification Help, San Joaquin CA Short Sales. San Joaquin CA Short Sale Realtor. Kissimmee FL Loan Modification Help, Stanislaus County CA Short Sales. Stanislaus County CA Short Sale Realtor. Tracy CA Short Sales. Tracy Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Frank G. Silveria III, Taffeco Real Estate, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

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.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Frank G.’s personal views and do not reflect the views of Taffeco Real Estate.

This information on Tracy Short Sales: Why Won’t My Lender Allow Me To Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Tracy CA – Many lenders do not own the loans they handle. Instead, they are paid by the actual loan owner to collect payment.

In my opinion, the banks make millions by understaffing their foreclosure departments? Here’s a real life example. A bank forecloses on a house and waits for over a year to list it for sale.

A year sitting in disrepair causes the home to sell for $30,000 less. But, the lender makes more money. Why? They might save $100 million by understaffing the department that handles delinquent properties.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here are a few examples of how the owners of a loan lose money because the lenders don’t do their job.

Example #1: Not giving buyers and answer on a short sale within one week. We took over a short sale from another agent. A buyer came along willing to pay 150k. They had been told they could buy it at that price for 150k, because the owner owed less than that.

When they found out it was a short sale they decided to walk. This was because they didn’t want to wait for 90 days. We told them they could buy it for 140k, if they waited for the 90 days.

They decided to stay on board. Wells Fargo accepted the short sale, but countered at a price of $141,500. The investor on the loan lost $8,500.

Example #2: Not following up on foreclosures properly. I drove past an abandoned house every day for a year. I looked up the owner to see if they might want to sell the house.

That’s when I saw that the home had been foreclosed on February 4th, 2009. In July 2009, we talked to Ann Rafferty at Bank of America’s, Simi Valley California office.

She told us that they were servicing this loan. She said if I had a buyer, I would need to contact the homeowner. “It’s not owned by us. You need to contact the homeowner if you want to sell the house. The property has not gone to foreclosure sale,” she said.

We told her the house had already been foreclosed upon. We asked her if they ever communicated with the foreclosure lawyers.

“That’s interesting,” she replied. “My records show it hasn’t gone to foreclosure. I’ll check in with the foreclosure department and verify whether it has or hasn’t been foreclosed upon.”

We asked another agent what he had thought the house would have sold for previously. We both agreed that if the house had been listed in April 2009, that it would have sold quickly for between $140,000 and $150,000.

Today homes similar to this one are selling for $70,000 to $80,000, depending on the condition. This home is in pretty bad condition. So, we can conservatively estimate the loss because of a reduced selling price to be more than $60,000.

As you can see, lenders are making huge profits at the loan owners expense. Many of those loans are owned or insured by Uncle Sam, and therefore the American Taxpayer. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail atfrank@thesilveriateam.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 209.835.9300

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Tracy 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, Frank G. Silveria III.

Frank G. is a Real Estate Agent at Taffeco Real Estate.

Phone: 209.835.9300. frank@thesilveriateam.com.

Helping Families One Home At A Time

View My homes for sale at www.thesilveriateam.com.

Frank G. Silveria III specializes in loan modification assistance and short sales in Tracy California. Tracy Loan Modification Help, Tracy Short Sales. Tracy Short Sale Realtor. San Joaquin CA Loan Modification Help, San Joaquin CA Short Sales. San Joaquin CA Short Sale Realtor. Kissimmee FL Loan Modification Help, Stanislaus County CA Short Sales. Stanislaus County CA Short Sale Realtor. Tracy CA Short Sales. Tracy Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Frank G. Silveria III, Taffeco Real Estate, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

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.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Frank G.’s personal views and do not reflect the views of Taffeco Real Estate.

This information on Tracy Short Sales: Is It Ethical For Lenders To Make Millions At Your Expense? is provided as a courtesy to our viewers to help them make informed decisions.

Tracy CA – The Stop Foreclosure Institute recently received a question from Chris. Here was his question.

“I just got an approval from a large national lender this morning and the approval letter stated the following: “Promissory Note of 0.00.” What does a Promissory Note of 0.00 imply?

It shows the promissory note of 0.00 is “to assist in the closing of this
transaction”. My main concern is that if it isn’t prohibited by California law, then I would like them to agree not to pursue a deficiency judgment.

It is best to know 100% in writing for sure so I don’t have that possible issue looming over my head for who knows how long. What are your thoughts on this? Chris.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our response. I think you’re splitting hairs. Didn’t the “Governator” outlaw deficiencies on short sales? If that is correct, then they can’t get a deficiency judgment.

Do I think they are willing to modify their approval letter for you? This bank worries more about being legally protected than they do about approving one short sale.

You might be able to get the negotiator to state that they will waive this clause. But, it isn’t always possible.

In many cases, the banks can have you sign a contract, but if the law forbids it, then the contract may be legally invalid. Talk to an attorney about whether or not that clause even matters. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail atfrank@thesilveriateam.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 209.835.9300

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Tracy 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, Frank G. Silveria III.

Frank G. is a Real Estate Agent at Taffeco Real Estate. Tracy Short Sales Realtor:

Phone: 209.835.9300. frank@thesilveriateam.com.

Helping Families One Home At A Time

View My homes for sale at www.thesilveriateam.com.

Frank G. Silveria III specializes in loan modification assistance and short sales in Tracy California. Tracy Loan Modification Help, Tracy Short Sales. Tracy Short Sale Realtor. San Joaquin CA Loan Modification Help, San Joaquin CA Short Sales. San Joaquin CA Short Sale Realtor. Kissimmee FL Loan Modification Help, Stanislaus County CA Short Sales. Stanislaus County CA Short Sale Realtor. Tracy CA Short Sales. Tracy Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Frank G. Silveria III, Taffeco Real Estate, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

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.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Frank G.’s personal views and do not reflect the views of Taffeco Real Estate.

This information on Tracy Short Sale Question About Deficiencies is provided as a courtesy to our viewers to help them make informed decisions.

Tracy CA – An agent with the Stop Foreclosure Institute recently had a short sale negotiator lie to them. We have spent the last 6 months figuring out all the rules for short sales on different loan types.

The rules are different for an FHA Short Sale, a VA Short Sale, and a Fannie Mae Short Sale. This was an FHA loan. Here’s what happened.

FHA puts out a letter called “Mortgagee Letter 2008-43.” It details exactly how the banks is supposed to handle a short sale on an FHA loan.

This letter is 16 pages long and gives them specific directions on how much to pay agents, what percentage of the appraisal they can accept, etc. (If you’re doing an FHA short sale, then Google “Mortgage Letter 2008-43.”)

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

This agent had had a wretched experience on another FHA short sale. The lender had lied to the seller’s prior agent and hadn’t followed the short sale guidelines.

Because of that experience, this agent had read thru the guidelines 2-3 times. Bottom line, I know a little bit about FHA’s rules for short sales. The problem was this short sale negotiator didn’t want to follow the rules!

Instead she made up her own rules! She told the agent that the buyer and seller had to split the cost of the title insurance. The problem is on page 12 of the Mortgage Letter, it says that they are allowed to approve a file paying the standard title insurance costs.

It was standard for the seller to pay for the title insurance. The buyer pays their closing costs and the title insurance for their lender. But, this negotiator didn’t want to allow that.

The agent had to argue back and forth with her for 2-3 days until she finally relented. Here is the problem I have with these banks.

If your investor gives you specific instructions on how to negotiate a short sale, then follow those instructions! In this case, we agents need to get better at knowing the rules. That way, when an egotistical investor tries to break the rules, you can keep them in line.

If a negotiator is lying to you, then ask for their manager. When you talk to their manager, explain how they are breaking the rules. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail atfrank@thesilveriateam.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 209.835.9300

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Tracy 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, Frank G. Silveria III.

Frank G. is a Real Estate Agent at Taffeco Real Estate.

Phone: 209.835.9300. frank@thesilveriateam.com.

Helping Families One Home At A Time

View My homes for sale at www.thesilveriateam.com.

Frank G. Silveria III specializes in loan modification assistance and short sales in Tracy California. Tracy Loan Modification Help, Tracy Short Sales. Tracy Short Sale Realtor. San Joaquin CA Loan Modification Help, San Joaquin CA Short Sales. San Joaquin CA Short Sale Realtor. Kissimmee FL Loan Modification Help, Stanislaus County CA Short Sales. Stanislaus County CA Short Sale Realtor. Tracy CA Short Sales. Tracy Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Frank G. Silveria III, Taffeco Real Estate, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

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.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Frank G.’s personal views and do not reflect the views of Taffeco Real Estate.

This information on Why Do Tracy Short Sales Negotiators Break The Rules? is provided as a courtesy to our viewers to help them make informed decisions.

Tracy CA – Very few people disagree that banks are not handling the housing crisis properly. Why is it so hard to get a reasonable loan modification?

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Pollution is defined as the following by Wikipedia: “Pollution can be a simple example of market failure. If costs of pollution from a factory are not borne by the factory owner, but instead are borne by the workers or people in the community, then prices are distorted.”

Basically, the factory can pollute at will. Now, let’s take the same sentence and change it to banks.

“Negligence and incompetence can be a simple example of market failure. If a $180,000 loss on a single house are not borne by ABC National Bank, but are borne by Fannie Mae and the American Public, then the decision making process is distorted.”

Over 80% of all loans that major banks have are not owned by the banks. That could be used to argue that the banks are polluting the economy at will. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail atfrank@thesilveriateam.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 209.835.9300

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Tracy 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, Frank G. Silveria III.

Frank G. is a Real Estate Agent at Taffeco Real Estate.

Phone: 209.835.9300. frank@thesilveriateam.com.

Helping Families One Home At A Time

View My homes for sale at www.thesilveriateam.com.

Frank G. Silveria III specializes in loan modification assistance and short sales in Tracy California. Tracy Loan Modification Help, Tracy Short Sales. Tracy Short Sale Realtor. San Joaquin CA Loan Modification Help, San Joaquin CA Short Sales. San Joaquin CA Short Sale Realtor. Kissimmee FL Loan Modification Help, Stanislaus County CA Short Sales. Stanislaus County CA Short Sale Realtor. Tracy CA Short Sales. Tracy Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Frank G. Silveria III, Taffeco Real Estate, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

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.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Frank G.’s personal views and do not reflect the views of Taffeco Real Estate.

This information on Tracy Short Sales: Are Banks Polluting The Economy? is provided as a courtesy to our viewers to help them make informed decisions.

Tracy CA – Does it make you angry when a bank kicks a family out of their home and loses money as a result? This happens all the time. Let me explain how.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

A family buys a home for $250,000. The home declines in value to $150,000. At the same time, their income drops to where they can only afford a $150,000 mortgage payment.

Does their bank reduce their payment and allow them to keep their home? No! Instead, the bank forecloses on the home. But, it doesn’t sell for $150,000.

It sells for $140,000, because the bank didn’t keep it up and the buyers offered less because it was a bank owned home. The bank nets $120,000 on the sale.

So, instead of allowing the family to stay in their home and repay them $150,000; the bank instead chose to kick them out of their home and lost $30,000 as a result.

Isn’t this pathetic? We need to change the system, don’t we? Now, We can have our opinions about how the banks handle loan modifications. We can complain about how they lose their investor’s money.

We can do all of this. But, it doesn’t really matter if they don’t care. The people at the banks are in control of the system. They think they are in the right.

The bankers think that the homeowners were stupid, irresponsible, and bought more home than they could afford. In a real business, when an employee makes a decision that loses the company $180,000 heads, then heads will roll.

Someone is getting chewed out or fired. I remember a friend telling me about a restaurant. An employee had left some chicken out overnight and it spoiled. The restaurant lost $800.

That employee probably got chewed out. Maybe even fired. But, these banks lose Fannie Mae $180,000 and nothing happens. It’s business as usual. Pathetic, isn’t it?

We need to get out of venting to just people who are in the business. They already know we have a problem. But, the average american doesn’t know about the problems.

We need to show the American Public solid examples of how they are losing money. Let’s post the banks failings online. Tell the story at ripoffreport.com.

Loan modifications and short sales will become a game of chicken. You can tell the negotiator, “Turn down this offer at your own risk. If you fail, and the house sells for less money, then I will put the entire story up online.”

That will help our cause. All we are doing is making a track record of these bank’s decisions. People who have better information will make better decisions.

This will make it easier for Fannie Mae, Freddie Mac, and the American People to make better decisions on short sales and the short sale process.

So, please post your bank’s failings online. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail atfrank@thesilveriateam.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 209.835.9300

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Tracy 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, Frank G. Silveria III.

Frank G. is a Real Estate Agent at Taffeco Real Estate.

Phone: 209.835.9300. frank@thesilveriateam.com.

Helping Families One Home At A Time

View My homes for sale at www.thesilveriateam.com.

Frank G. Silveria III specializes in loan modification assistance and short sales in Tracy California. Tracy Loan Modification Help, Tracy Short Sales. Tracy Short Sale Realtor. San Joaquin CA Loan Modification Help, San Joaquin CA Short Sales. San Joaquin CA Short Sale Realtor. Kissimmee FL Loan Modification Help, Stanislaus County CA Short Sales. Stanislaus County CA Short Sale Realtor. Tracy CA Short Sales. Tracy Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Frank G. Silveria III, Taffeco Real Estate, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

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.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Frank G.’s personal views and do not reflect the views of Taffeco Real Estate.

This information on We Must Educate The Public About Banker’s Stupid Decisions On Tracy Loan Modifications is provided as a courtesy to our viewers to help them make informed decisions.

2404 Cherokee Rd., Stockton, Ca

For Additional Information & Photo's click here

Property Type: Multi Residential
Square Feet: 1,913
Total Units: 4
Bathrooms: 1 per Unit
Lot Size: .22 Acre

Tracy CA – The Stop Foreclosure Institute recently received a question from a person attempting a loan modification on their home. Here was their question.

“I have a first mortgage for $197,000. That was my original loan from when I bought my home. I borrowed $250,000 on a second mortgage for a remodel.

My house has dropped dramatically in value. It used to be worth over $500,000, but not the value is more like $250,000.

With the recent decrease in value, I would like to get a modification on my second mortgage. I would like to get that reduced to $250,000.”

Get my Free, Step By Step Loan Modification Guide by clicking here.

We talked to this fellow and found out some other information. He mentioned that he was having a hard time paying the second mortgage.

He did mention that he was saving up $7,000 to settle a $25,000 debt on a credit card. That was the shocker. Why would you pay $7,000 to a credit card rather than paying your mortgage?

That will cover his second mortgage payments for almost a year. He thought it was the best opportunity he would ever have to avoid repaying the $25,000.

This was when I told him about a client we helped with a short sale. This seller had been chased down by a credit card judgment for over 3 years. However, they couldn’t levy her bank account or garnish her wages. Why not?

She found a state law that forbids garnishments when a person is a head of household. This is good news for the guy who wants to pay $7,000 to the unsecured credit card.

How does that impact his loan modification? It doesn’t. He still has to go thru the excitement of negotiating that. But, it does free up his finances dramatically.

Here is the bottom line. You don’t always have to choose between keeping your house and getting your wages garnished. If you are considering a loan modification, then first look at what other debts you can stop paying. Thinking about a loan modification?

Our Tracy loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at frank@thesilveriateam.com to request a Free Copy.

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 209.835.9300

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thanks for reading this, Frank G. Silveria III.

Frank G. is a Real Estate Agent at Taffeco Real Estate.

Phone: 209.835.9300. frank@thesilveriateam.com.

Helping Families One Home At A Time

View My homes for sale at www.thesilveriateam.com.

Frank G. Silveria III specializes in loan modification assistance and short sales in Tracy California. Tracy Loan Modification Help, Tracy Short Sales. Tracy Short Sale Realtor. San Joaquin CA Loan Modification Help, San Joaquin CA Short Sales. San Joaquin CA Short Sale Realtor. Kissimmee FL Loan Modification Help, Stanislaus County CA Short Sales. Stanislaus County CA Short Sale Realtor. Tracy CA Short Sales. Tracy Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Frank G. Silveria III, Taffeco Real Estate, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

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.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Frank G.’s personal views and do not reflect the views of Taffeco Real Estate.

This information on A Common Tracy Loan Mod Mistake is provided as a courtesy to our viewers to help them make informed decisions.

14451 Cedar Valley Ln, Lathrop, Ca

For Additional Information & Photo's click here

Style: Single Story
Square Feet: 1,477
Bedroom: 4
Bathrooms: 2
Lot Size: .15 Acre

Open House in Stockton, CA!

3976 Mcdougald Blvd, Stockton, Ca

Saturday, Oct 22nd 1:00pm - 4:00pm

For Additional Information & Photo's click here

Style: Single Story
Square Feet: 1315
Bedroom: 3
Bathrooms: 2
Lot Size: .13 Acre