Crum & Associates Residential Group

How Do I Stop The Foreclosure Process During A Seal Beach Short Sale?

crumassociates — Sun, 25 Sep 2011 21:49:20 +0000

Seal Beach CA ShortSale – Crum & Associates Residential Group recently received a question from Trudi. Here was Trudi’s Question.

“I am in the middle of the 3rd offer on a shortsale. I was just recently received foreclosure papers. Is there a way to stop the foreclosure process and get the house sold? If they just would work with me! Trudi”

Here is the answer to Trudi’s Question. Unfortunately, most banks won’t stop foreclosure proceedings. Most of the time, they will stop a foreclosure sale when you have buyer that wants to buy the house.

For example, we saw a lender stop a sale last year. The sale was set for around September 7th and the property was listed around August 25th.

The lender stopped the sale until the shortsale process was complete. Thinking about a shortsale?

I can help you shortsale your property and get back on your feet. Send me an e-mail at ramon@crumassociates.com. I will contact you for a free consultation.

When we talk, I will clarify how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 562-881-4985

Thanks for reading this, Ramon Crum.

Ramon is a Real Estate Broker at Crum & Associates Residential Group. Seal Beach ShortSales Realtor:

Phone: 562-881-4985. ramon@crumassociates.com.

View My homes for sale at www.crumassociates.com

Ramon Crum specializes in loan modification help and small sales in Seal Beach California. Long Beach Loan Modification Help, Long Beach ShortSales. Long Beach CA ShortSales. Seal Beach Realtor.

Who Benefits From A Long Beach Short Sale?

crumassociates — Sun, 25 Sep 2011 21:11:30 +0000

Long Beach CA ShortSale – Even though lenders pretend to despise shortsales, they really benefit from shortsales. Let me clarify why.

A lender gets to sell the house at today’s price, versus what it will be worth 6-12 months down the road. We just did a comparison and pulled up sold listings.

All of the listings were the same, very comparable, and located in 3 similar, comparable neighborhoods. All were less than 2 miles apart.

First, we looked up the average selling price per SQFT of homes that sold in a 3 month period. In spring 2009, all the homes sold for an average of $103 a SQFT.

Then, we pulled up houses in the same neighborhoods that sold after the bank had foreclosed on them. Those sales were 6-9 months later than the original sales.

6-9 months later, the average sales price of a home in these neighborhoods was $85 a SQFT. These homes average 1,700 a SQFT.

That means a 1,700 foreclosure sold for $30,600 less than it would have sold as a shortsale six months before. Ouch! Sure, most shortsales are cheaper than comparable bank owned or “seller with equity” sales.

But, we’re bringing a tremendous amount of value to the bank. The other person that’s getting value is the buyer. They get a better deal in today’s market than buying a “seller with equity” or REO.

You, the seller is also getting a better deal. You get a lower deficiency and your credit is back to normal in 18-24 months.

A shortsale is a win – win for everyone involved. Thinking about a shortsale?

I can help you shortsale your property and get back on your feet. Send me an e-mail at ramon@crumassociates.com. I will contact you for a free consultation.

When we talk, I will clarify how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 562-881-4985

Thanks for reading this, Ramon Crum.

Ramon is a Real Estate Broker at Crum & Associates Residential Group. Long Beach ShortSales Realtor:

Phone: 562-881-4985. ramon@crumassociates.com.

View My homes for sale at www.crumassociates.com

Ramon Crum specializes in loan modification help and shortsales in Long Beach California. Long Beach Loan Modification Help, Long Beach ShortSales. Long Beach CA ShortSales. Long Beach Realtor.

A Common Lakewood CA Short Sale Mistake

crumassociates — Thu, 21 Jul 2011 02:14:37 +0000

Lakewood CA – Lakewood CA Shortsales have a reputation for taking a long time. But, they can drag on even longer if the paperwork isn’t submitted to the lender in a timely manner.

When Crum & Associates Residential Group first started doing shortsales, we were hesitant to submit anything to the lender until we had a 100% complete package.

That caused the shortsales to drag out a lot longer. After a small while, we learned to submit the paperwork as quickly as possible to the lender.

It usually takes 30 to 60 days for the lender to assign a negotiator to the file. That gives us plenty of time to track down any missing paperwork.

We realized that we were wasting time if we waited 30 days until everything was perfect and then submitted the file. There is a common myth that you shouldn’t submit shortsale paperwork until it is 100% complete.

Let me clarify why that myth just isn’t right. A lot of lender have different special forms they wanted filled out specifically for them.

“Oh, you need the buyer and seller to sign the ABC Bank Contract Addendum”, the shortsale negotiator tells us. Besides, most shortsale negotiators want things done certain a way.

Because of this it is nearly impossible to place together a 100% perfect shortsale file that will have exactly the way the lender wants it. So make sure your agent submits your file quickly and follows up with the shortsale negotiator to see if anything is needed.

Thinking about a shortsale? I can help you small sale your property and never pay the bank another penny. Send me an e-mail at ramon@crumassociates.com. I will contact you for a free consultation.

When we talk, I will clarify how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 562-881-4985

Thanks for reading this, Ramon Crum.

Ramon is a Real Estate Broker at Crum & Associates Residential Group. Lakewood CA shortsale Realtor:

Phone: 562-881-4985. ramon@crumassociates.com.

Crum & Associates Residential Group, is 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 shortsales. Why?

Because most shortsales are beneficial to a lender. If you accept our offer to help you on a shortsale, your lender may not agree to a Lakewood CA shortsale or to modify your loan. We do offer a loan modification kit.

But, 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 hurt to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so vital to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any choice.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any choice. Information is deemed reliable but not guaranteed as of the date of writing.

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

The views expressed here are Ramon’s personal views and do not reflect the views of Crum & Associates Residential Group.

Embarrassed to do a Long Beach Short Sale

crumassociates — Thu, 21 Jul 2011 00:49:29 +0000

Long Beach CA – You might reckon it is an embarrassment to sell your home as a Long Beach shortsale. “My friends will laugh at me when they realize that I owe more on my house than it is worth”, some people reckon.

The reality is that many Americans are in your same position. In fact, some experts reckon that over a quarter of all homeowners are upside down.

In fact, this statistic is even worse in areas where the housing market has taken a huge drop. You have nothing to be embarrassed of. On the contrary, you should be proud that you are handling your affairs in a responsible manner.

ShortSales usually reduce your lender’s losses by 20%. This means you are really doing your part to help the housing market and economy.

You are doing your part to stop the decline in the housing market. Your neighbor who opts to let their bank foreclose is hurting the housing market.

This is because bank owned properties usually sell for less than a shortsale. We have seen this first hand. A ShortSale sells for $400,000 and then a similar bank owned home sells for $300,000.

This is because banks don’t maintain the homes they sell and buyers know they can get a bargain.

Thinking about a shortsale? I can help you shortsale your property and never pay the bank another penny. Send me an e-mail at ramon@crumassociates.com. I will contact you for a free consultation.

When we talk, I will clarify how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 562-881-4985

Thanks for reading this, Ramon Crum.

Ramon is a Real Estate Broker at Crum & Associates Residential Group. Long Beach ShortSales Realtor:

Phone: 562-881-4985. ramon@crumassociates.com.
Crum & Associates Residential Group is 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 shortsales. Why?

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

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

The views expressed here are Ramon’s personal views and do not reflect the views of Crum & Associates Residential Group.

Can I buy a Long Beach Home after a Short Sale

crumassociates — Thu, 30 Jun 2011 02:25:18 +0000

Long Beach CA – The largest advantage a small sale has over a foreclosure is that you can buy your next home much sooner.

Under current lending guidelines, you can buy another home in 24 months after a long beach small sale. If your Long Beach Home was foreclosed on, then you would have to wait 5-7yrs. Why, because a shortsale will only reduce your credit score 150 points or less. As oppose to a Long Beach foreclosure that could reduce your credit score up to 350 points.

(FHA’s current guidelines state that you can get an FHA loan immediately after a shortsale, provided that you never missed a payment. If you were in default at the time of the shortsale, then you have to wait 2 years before they will approve your loan.)

But, what if did miss a payment and you want to buy another home sooner than that?

There are loopholes in the Honest Credit Reporting Act. Remember, the law was written to protect consumers. It wasn’t written to protect the lenders!

You can use the law to your advantage to get a shortsale removed from your credit history. Then, you can fix any other negatives on your credit report.

After that, your credit should be excellent enough to qualify to buy another home.

Here is why you can have the shortsale removed from your credit report. The Honest Credit Report Act requires lenders do certain things before reporting negative credit.

If you lender misses any of these steps, then they are not allowed to post that item to your credit report. Don’t kid yourself; the lenders make mistakes like this all the time.

They are more concerned with getting paid than making sure every credit report is done perfectly. A excellent lawyer that specializes in this can help you.

They will know the intricacies of the law and help you get the shortsale removed from your credit so you can buy another home.
Ramon Crum, Crum & Associates Residential Group, 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 shortsales. Why?

The views expressed here are Ramon’s personal views and do not reflect the views of Crum & Associates Residential Group.

This information on Can I buy a Long Beach Home after a ShortSale is provided as a courtesy to our viewers to help them make informed decisions. Call 562-881-4985

Long Beach Condos for Sale: Will My Lender Set The Price For My Long Beach Condos?

crumassociates — Sun, 19 Jun 2011 22:54:40 +0000

“I am interested in doing a shortsale on my Long Beach Condo. I just have a few questions about how the process works. Does my lender set the price for the condo. And, will that price include the realtor fee? Sincerely, Steve.”

Here was our answer. Steve, in most cases the lender will not set the asking price for your long beach condos. In most cases, the lender does not get involved until after we have an offer from a buyer.

The only exception is if you have an FHA loan. FHA’s shortsale guidelines stipulate that an appraisal be done after the home is place on the market. They required the asking price be changed to the appraised value.

As far as your second question, does that price include the realtor fee? FHA Small Sale Guidelines require the lender to pay your long beach realtor a commission. You don’t have to pay it.

On other shortsales, the lender usually pays the realtor’s fee. They know that they will have to pay a realtor when they sell a home after foreclosure. Why not avoid a long beach foreclosure and sell the home now?

That is the logic behind why they pay the realtor’s commission on a long beach shortsale.

Thinking about a small sale? I can help you small sale your property so you can go on with your life. Send me an e-mail at ramon@crumassociates.com. I will contact you for a free consultation.

When we talk, I will clarify how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 562-881-4985

Thanks for reading this, Ramon Crum.

Ramon is a Real Estate Broker at Crum & Associates Residential Group. Long Beach ShortSales Realtor:

Phone: 562-881-4985. ramon@crumassociates.com.

Ramon Crum specializes in loan modification help and shortsales in Long Beach California. Long Beach Condos for Sale, Long Beach ShortSales, Long Beach Homes, Long Beach Realtor.

Vital Notice

Ramon Crum, Crum & Associates Residential Group, 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 shortsales. Why?

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

The views expressed here are Ramon’s personal views and do not reflect the views of Crum & Associates Residential Group.

How a Long Beach Short Sale Helps Preserve Long Beach Homes values

crumassociates — Thu, 16 Jun 2011 04:37:18 +0000

Long Beach Homes – Yes, a long beach shortsale really help preserve home values in a neighborhood. Here is why.

Most people shortsell their long beach home while they are still living in the home. They are maintaining the home, mowing the yard, keeping the air conditioning on, etc.

Most bank owned properties are empty for 3-6 months, if not longer. No one maintains the home during that time period. Empty homes are simple targets for vandalism and thieves.

The grass and yard get overgrown. Pools deteriorate and the water turns green with algae.

Even things as simple as sprinkler system can have problems when they aren’t used for 3-6 months. A sprinkler system contractor recently told us that if the system isn’t run at least once a month, it can have problems.

All these things added together will cause bank owned long beach homes to sell for much less than a long beach shortsale. That is why you should be proud that you are shortselling your house.

You are doing a huge part to help keep the housing market and your neighborhood. In addition, you are helping the entire economy because the housing market is such an vital part of it.

Thinking about a loan modification?Our Long Beach loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at ramon@crumassociates.com to request a Free Copy.

Thinking about a shortsale? I can help you shortsale your property so you can go on with your life. Send me an e-mail at ramon@crumassociates.com. I will contact you for a free consultation.

When we talk, I will clarify how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 562-881-4985

Thanks for reading this, Ramon Crum.

Ramon is a Real Estate Broker at Crum & Associates Residential Group. Long Beach Small Sales Realtor:

Phone: 562-881-4985. ramon@crumassociates.com.

View My homes for sale at http://www.crumassociates.com

Ramon Crum specializes in loan modification help and shortsales in Long Beach California. Long Beach Loan Modification Help, Long Beach ShortSales. Long Beach CA ShortSales. Long Beach Realtor.

Vital Notice

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

Long Beach Short Sale: Is it too late to sell my Long Beach Home

crumassociates — Tue, 14 Jun 2011 19:40:42 +0000

Long Beach CA Homes – Long Beach California resident Susan, who is considering to shortsale her house, questioned this question.

“My long beach home is scheduled to be going on the courthouse steps in about 2 months. I had thought about small selling, but a friend told me I wouldn’t have enough time to do it.

Because of that I didn’t pursue a shortsale earlier. Recently I chose to look into it further. It looks like a excellent option compared to foreclosure. My question is this.

Do I have enough time to shortsale house, or is the foreclosure already too far along? Please let me know.
Sincerely,
Susan.”

Here was our answer. Susan, we can still help you with a shortsale. Most lenders will postpone a foreclosure when a small sale offer is in place. Yes, the shortsale process usually takes 2-6 months to process.

But, many lenders will postpone the sale while a home shortsale is in the works. In addition, some shortsales go quicker than the normal 2-6 months.

If your lender is the only lien holder on your house, then a choice will be much simple to reach. They can approve or deny the shortsale in a matter of a week or two.

So, please let us help you. We have a excellent success rate even when the foreclosure process has already begun. As you well know, a long beach shortsale beats a long beach foreclosure because you can buy another long beach home much sooner.

Thinking about a shortsale? I can help you shortsale your property so you can go on with your life. Send me an e-mail at ramon@crumassociates.com. I will contact you for a free consultation.

When we talk, I will clarify how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 562-881-4985

Thanks for reading this, Ramon Crum.

Ramon is a Real Estate Broker at Crum & Associates Residential Group. Long Beach ShortSales Realtor:

Phone: 562-881-4985. ramon@crumassociates.com.

View My homes for sale at http://www.crumassociates.com.

Ramon Crum specializes in loan modification help and shortsales in Long Beach California. Long Beach Loan Modification Help, Long Beach ShortSales. Long Beach CA Small Sales. Long Beach Realtor.

Vital Notice

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

The views expressed here are Ramon’s personal views and do not reflect the views of Crum & Associates Residential Group.

This information on Another Common Long Beach ShortSale Myth: The Foreclosure Process Goes So Quick That I Don’t Have Time To ShortSale is provided as a courtesy to our viewers to help them make informed decisions.

Short Sale Process

crumassociates — Sun, 05 Jun 2011 20:32:06 +0000

The current economy has brought on more than just higher prices at the grocery store or the gas pump. It has also caused people to lose jobs forcing them to get behind on their mortgage payments. When a person is facing the fact that they may lose their home to foreclosure they start to look at other options, and one of those is called ‘the ShortSale’. The ShortSale process is nothing more than the lender allowing the sale of a home, for less than what is owed on the balance of the loan, as payment in full. This may seem simple, it’s not!

There are so many different scenarios that can take place it is ‘highly recommended’ you have a professional real estate agent or broker handle this matter for you. With that being said, because of the subprime lending practices that had taken place, many people find themselves in a situation where a shortsale may be the answer to their foreclosure needs. If you find yourself in this situation, below you will find a simplified version of what a shortsale looks like, and how it can possibly help you in your current situation.

In order to qualify for a shortsale there are three criteria you must meet:

1.) You have to be in default: You can either be near default, or at least one payment in the rears of the grace period. When we say near default this means default is imminent.

2.) Very small or no equity: Your home cannot be valued more than what you owe.

3.) You must have a legitimate hardship: Loss of job, unable to pay.

A legitimate hardship will also include other situations such as:

“ A recent divorce

“ A death, medical hardship, or illness

“ Property taxes that have increased substantially

“ An adjustable rate mortgage (ARM) resetting, that has increased your monthly payment by two or three fold.

All three of these criteria will need to be met in order to qualify for a shortsale rather than a foreclosure. If you do qualify for a home shortsale, it is very vital for you to know that while neither of these are excellent for your credit history, a small sale will be a small simpler to recover from rather than a full foreclosure.

A small sale should never be handled by a person that is not qualified. For this reason you will need to find a real estate agent or broker that specializes in small sales. While on your search, you’ll want to look for:

1.) They will need to be a Certified Default Resolution Specialist or (CDRS). Or the equivalent.

2.) They will need to calculate ‘exactly’ what the lender will need in a sale price.

3.) They will need to know a ‘deficiency judgment’ and how to protect you.

4.) Understands the critical differences between VA, FHA, and conventional loans, and why it’s so vital.

5.) A real estate broker or agent will need to have a excellent track record in this area, as well as a strong commitment to integrity and honesty.

These are all areas that will need your specific attention when finding a real estate broker or agent that can handle your shortsale in a professional manner. If they lack in any one of these areas you should continue your search until you find a professional you are comfortable with. Once you’ve found the real estate broker or agent that will suit your needs and you have successfully entered into a house problems will soon go away. Some of the benefits that can also be experienced are relief from debt, being saved from foreclosure, and you are allowed to go on with your life.

Long Beach Short Sale: Housing Market headed for a rebound?

crumassociates — Fri, 03 Jun 2011 00:46:15 +0000

Long Beach Small Sale – The tax credit expired and everyone turned negative on the housing marketing.

One so called expert said we could see headlines about the real estate market crashing again. Another said that the housing market is going to continue it’s decline for another years or two.

He referenced an article that showed that mortgage applications dropped by 9.5 percent the first week after the tax credit expired.

Although I have a B.A. Degree in Business Economics……I will not reserve the right to call myself an Economist. Which also means that I will refrain from making any predictions of my own. But let us take economist’s views on the housing recovery with a grain of salt. Here are a few examples I found of actual economists getting their predictions incorrect.

1. An economist published a book in 1987 that predicted a depression in the 1990s. That proved just a small inaccurate, no?

2. Supposedly in 1996, Alan Greenspan, stated he thought there was too much irrational exuberance in the US stock market. The stock market continued to climb for another 4 years.

But, Greenspan was bullish on the last economic expansion that went best. How incorrect was he on the last housing / economic bust?

Who really knows what is going to happen in the housing market. I do know that despite all the crazy predictions, the housing market will eventually recover. It might take another 1-3 years to flush out all the foreclosures and “shadow inventory.”

But, after that happens the housing market will stabilize and start a slow appreciation. It might take 8-12 years for prices to return to the previous high. Maybe even longer. But, they will turn around eventually.

What does that mean to the person in an upside down house? They have a fantastic opportunity to shortsale their home and buy at the bottom.

They can erase 8-12 years of negative equity and start building equity when they qualify to buy another home 3 years after their shortsale. If you are upside down by 20% or more, a small sale makes fantastic financial sense.

What do you reckon? E-mail me back if you are bearish or bullish on housing. Just place “Bull” or “Bear” in the subject line of your e-mail. I’ll release the results of this informal poll tomorrow.

Thinking about a shortsale? I can help you small sale your property so you can go on with your life. Send me an e-mail at ramon@crumassociates.com. I will contact you for a free consultation.

When we talk, I will clarify how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 562-881-4985

Thanks for reading this, Ramon Crum.

Ramon is a Real Estate Broker at Crum & Associates Residential Group. Long Beach ShortSales Realtor:

Phone: 562-881-4985. ramon@crumassociates.com.

View My homes for sale at http://www.crumassociates.com.

Ramon Crum specializes in loan modification help and small sales in Long Beach California. Long Beach Loan Modification Help, Long Beach ShortSales. Long Beach Condos for Sale. Long Beach Realtor.

Vital Notice

Ramon Crum, Crum & Associates Residential Group, is 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 shortsales. Why?Because most shortsales are beneficial to a lender. If you accept our offer to help you on a small sale, your lender may not agree to a small sale or to modify your loan. We do offer a loan modification kit.

The views expressed here are Ramon’s personal views and do not reflect the views of Crum & Associates Residential Group.

This information on Long Beach Small Sales: Housing Market Headed for a rebound? is provided as a courtesy to our viewers to help them make informed decisions.