Sonoma County Short Sale Information? You now have a web site to visit for questions and information!!
January 13th, 2008 . by Mike Kelly
Our listeners who find themselves “upside-down”, “sideways” and just plain “Up-against-it”! Now have a web site to explore what might be the only financial move left: A “Short–Sale” through their lender. Please go to the website below and you’ll be able to gain valueable information as to what a “Short-Sale” actually is and if it is for you. But before you go there we want you to exhaust all possible avenues with your lender. Here are Mike’s Tips for this:
1. Call YOUR LENDER!! 80% of those now in default and loosing their homes DID NOT call their lender! Many feel their position is hopeless. Don’t despair! Try a call. Call your loan originator or Mortgage Broker who got you the loan. Call your Realtor also. See what they reccomend. You might get a local manager to give you someone at the “Top” or near the Top to help you with your loan issues.
2. Go to www.HOPENOW.com which is the government backed advisory program and see if your lender is on the list. Reference, remind them, they are a part of this program.
3. Remember, the squeaky wheel gets the grease!! Be a royal pain in the butt!! Don’t give up! If you really WANT your home there might be a way for you to stay. New bills are being introduced in Congress and some existing ones are wending their way through the halls of congress which could give you relief. If you want to stay then try some stalling tactics. Get a reduced payment plan, lower interest rate, lower “re-set” rate, etc.
4. This is the last route before you admit maybe it’s time to move on! But before you do this you’ll need to contact an attorney, bankruptcy or real estate, CPA for tax ramifications, etc. Then check out my new site for your questions: http://www.sonomacountyshortsales.com/
