Short Sales Solutions

Short Sale

Short Sale Solutions

Finding the right financial solutions for you!

Having financial problems? Can't pay your mortgage? Just want to get out of your property and hight debt or bad loan?

You've come to the right place! Many people in the Bay Area have experienced financial challenges here and wonder if they can really afford or keep their homes... or worse, go into foreclosure. Many refinanced their homes to buy investment properties, a boat, other assets or debts, only to be stuck with a mortgage that is way above the current value of their homes. If you are experiencing stress and frustration and don't know what to do, then contact us today to find your choices and avoid foreclosure. Really, there is no reason to get a foreclosure in today's more accepting financial climate.

The main concern I see with our clients is... what is it, how will it benefit me, what are my choices, and can you make it happen? Keep in mind, a short sale is simply one of over 13 options we will show you when you meet with us to review your options. What is a Short Sale? Simply put, a short sale is when you owe more than your property is worth, and when you decide that this is the best option, you pay the lender less than full balance owed, hence the bank may become "short" of a full payment. If you can no longer make your payments of your mortgage or other debt, then this is an options many clients are taking advantage of, especially since the government is also trying to help cure our nation's financial woes as easily and quickly as possible with governmental intervention, including tax benefits, tax deductions, policies, and programs to help today's homeowners, some which are slated to expire in 2012 so do not wait! Take action today.

Is the short sale a free "get out of jail" card to get out of your property? No. You have to show hardship, which include loss/reduction of income, increased debt, divorce, relocation, illness, military service, among others. To confirm your status, be sure and consult with a real estate professional who has the experience and credentials in this specialty. If you have a lot of assets, the bank is not likely to want to cut you any slack... make sense?

While you must miss payments or be close to financial turmoil, many lenders are willing to allow sellers to do a short sale without missed payments but they will require a seller contribution or note to get out of the debt obligation. Kelly Dawson, Bank Of America, recently said in a conference call to the Distressed Property Institute members that they will they will do short sales when not in hardship but they will have to bring in a seller contribution or be willing to do an unsecured loan. Keep in mind that this can still be a better option than keeping the current situation. Be sure and talk to a reputable real estate processional who has the experience, education, and credentials to insure your success. As a broker for 24 years, I see too many agents who do not have the skills, education, negotiating skills and bank knowledge to get the desired results.

We are expecting a major surge of Option ARM and Interest Only loan interest resets and recasting peaking in the second and third quarter of this year, which will affect many borrowers and homeowners. Here is one recent graph from Credit Suisse, which will likely affect our real estate and financial market for another couple years.

There are solutions that make sense. You dont have to be financially stressed or worried. We can get you back on your feet and start fresh. Trust me, you are the not the only person with similar concerns. Let us level the playing field so you have a better chance and options. We can help, so contact us for a free consultation today. Also, be sure and visit my financial solution website at www.PastDueNoMore.com for additional information and your options. You will find free valuable information and government programs to help you make the best decision for you!

Let us help you start fresh today!

There can be potential tax and deficiency issues, so be strongly advised: CONSULT WITH YOUR TAX AND LEGAL PROFESSIONALS TO CONFIRM YOUR RIGHTS AND OPTIONS.

James Endo has been active in the real estate business since 1987 as a loan broker and real estate broker. He is also an active short sale specialist, having worked in the 1990-1995 down market as well as the current market, and holds the CDPE (Certified Distressed Property Expert) and Certified Foreclosure Prevention Consultant designation. He is committed to provide you with the straight up answers you need to make the best decisions for you. Call him for a free consultation today at 408-445-3281.

FHA MARS Disclosure:

1. Altera Real Estate is not associated with the government, and our service is not approved by the government or your lender.

2. Even if you accept this offer and use our service, your lender may not agree to change your loan.

3. You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [ or servicer]. If you reject the offer, you do not have to pay us. If you accept the offer, you will have to pay us (insert amount or method for calculating the amount) for our services.