West Sacramento Short Sale Information: July 2013

Sunday, July 21, 2013

West Sacramento Short Sale Information – Why is Short Sale Better than Foreclosure with a HELOC?

Mike Rigley Certified Default Advocate, Distressed Property Expert and your short sale specialist here thank you for joining us.

Why is Short Sale Better than Foreclosure with a HELOC? We get this question a lot. The client will say, “I’m going to just let the bank take the property back”. Well that’s all and good however it really comes down to liability.

You see a Home Equity Line of Credit or HELOC is just that, a line of credit, not a true mortgage second. A line of credit is just like a credit card. If you lose the house to foreclosure the HELOCdoes not go away. You still owe the money. In a West Sacramento short sale however the lender is required to waive their right to a deficiency judgment and forgive the debt. Big, big difference.

Can you imagine losing your home to foreclosure and still owing on it? That’s crazy talk if you ask me. Now here is something else to consider. If you took out a second loan on your West Sacramento property, not as the initial purchase but any time after the original close of escrow you could be facing the same issue as the HELOC, especially if you took cash out at the time of closing. If the first mortgage forecloses under this scenario the second still can pursue you for the deficiency. Not so in a West Sacramento Short Sale.

Here’s my best advice. If you have a second mortgage and you are considering letting your home go to foreclosure, call me and let’s take a strong look at your situation. A West Sacramento Short Sale may be your best option.

Is a West Sacramento Short Sale Right for Me? Give me a call and let’s find out. We also offer a short sale lease back program for those who qualify allowing you to short sale and stay in your home. Call me for details

To get a better idea of when your West Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info for a free estimate or call me today for a free no obligation consultation or for the latest West Sacramento short sale information. Call me today and sleep better tonight; you’ll be glad you did.

Saturday, July 20, 2013

West Sacramento Short Sale Information – Ocwen Short Sales Rock!

Mike Rigley Certified Default Advocate, Distressed Property Expertand your short sale specialist here thank you for joining us.

Ocwen Short Sales Rock! Got an Ocwen loan and you want to complete a short sale? Call me, we love to work on Ocwen Short Sales! Now most Real Estate agents and Short Sale Negotiators will say we’re nuts, and truth be told we just might be but I gotta tell you we love working Ocwen Short Sale files. Let me say that again, we love working Ocwen Short Salefiles.

We find that along with Citi Bank, Ocwen Short Sales are the fastest and easiest short sale files to get approved. You complete the Ocwen Short Sale package exactly like they prescribe, you give them the requested documentation and usually within 21-35 days you get the Ocwen Short Sale approval. We have had Ocwen Short Sales approved in as little as 14 and 17 days. That’s crazy fast.

Yes you deal with a call center in India. Yes there is a language barrier and yes that barrier can lead to use of words by the Ocwen Short Sale negotiators that may sound offensive but I believe it is more an interpretation and them thinking they used a word that meant one thing not knowing it could be interpreted as offensive. That’s happened a couple of time to me and instead of barking back at them I thought about what they said, how they said it and figured it was not an intentional slight.

Give me an Ocwen Short Sale file all day long. We get them done and we get them done quickly

Is an West Sacramento Short Sale Right for Me? Give me a call and let’s find out. We also offer a short sale lease back program for those who qualify allowing you to short sale and stay in your home. Call me for details

West Sacramento Short Sale Information – Bank of America Short Sales Suck

West Sacramento Short Sale Specialist, Default Advocate, Distressed Property Expert and West Sacramento Short Sale Agent Mike Rigley here bringing you the latest West Sacramento Short Sale Information. Thank you for joining us.

Bank of America Short Sales suck. That’s pretty strong language I admit but then again I‘ve never been known for holding back. And here is the worst part. It was not that long ago that Bank of America Short Sales were the absolute easiest of all short sales to complete. How to you go from hero to zero in less than 6 months? Easy, lay off 20,000 employees and 3rd party providers that’s how.

Ok – that sounds harsh and in some ways it is. The good folks who handle the Bank of America Short Sale customer service line are top notch. They do the best they can to assist when you call in and we appreciate it. We appreciate it because getting a Bank of America Short Sale negotiator to answer the phone or return a call or email takes a near act of congress. Seriously. The other folks we truly appreciate are the great talent Bank of America has in the Short Sale Escalations department. They have to hear all the complaining from Short Sale Negotiators like me when either the 3rd party or Bank of America Short Sale negotiator don’t follow up on our files and allow then file to be out of compliance. On an out of compliance Bank of America Short Sale file you know I’m going to be all over the escalation to get the file back on track.

So what’s going on with Bank of America Short Sales? My experience is while some file sail through, others get lost in terminal incompetence. Bank of America Short Sales are more about the Bank of America Short Sale negotiator than the file itself. Sad but true. Get a good negotiator your file sails through. Get a dope and get ready for the fight from start to finish. The key is knowing which type you’ve got as quickly as possible.

Is a West Sacramento Short Sale Right for Me? Give me a call and let’s find out.

Saturday, July 6, 2013

West Sacramento Short Sale Information – Green Tree Short Sales Improve

Improve West Sacramento Short Sale Agent, Default Advocate, Distressed Property Expert and West Sacramento Short Sale Specialist Mike Rigley here bringing you the latest West Sacramento Short Sale Information. Thank you for joining us.

Green Tree Short Sales Improve. You heard me right. Green Tree Short Sales, not often known for their speed or customer service has shown significant changes in the last couple of months. Green Tree Short Sales are known throughout the industry as being slow and difficult. We should know. We’ve completed dozens over the past couple of years.

Our last couple of Green Tree Short Sales have been reasonable and in some instances quick. We escalated a file a week or so ago and had the approval within 24 hours. Our next file was expedited and is moving quickly thorough the system. Other files we have with the Green Tree Short Sale department are right on track with where we would expect them to be.

We suspect and have confirmed with our sources in the Green Tree Short Sale department that they have made internal changes to expedite the Green Tree Short Sale process. I truly believe that they we caught off guard by the number of short sale files the inherited when they bought the servicing rights to the old GMAC loans. Let’s face it, we knew the good folks in the Green Tree Short Sale department were already full and then you add files on top of that something has to give and it is usually service. But give credit where credit is due because it looks like they have addressed the issue and in our opinion Green Tree has their act together as far as short sale processing goes