Sacramento Short Sales or Making Home Affordable loan modification ? - April 2010 -

Sacramento California 2010 - Short sales and loan modifications are controlling the residential home market as we enter April and this will determine supply in 2010. Builders are few and the economy is still on the ropes with more than 12.5% unemployment... Home values are more than 50 % off of the highs in 2007.





Produced by - Mike Jaeger Live-

Sacramento Short Sale Breaking News - April 1, 2010 -

Roseville California - GMAC mortgage servicing a government owned Fannie Mae loan, this week turned down a market bid of $250,000 for a short sale and instead they became the new owner of another California home, by bidding over $313,000 at a trustee sale. This will result in added operating expenses, management, and other costs as they begin to market the house. The house had already been on the market for 60 days with a starting price of $279,000 and a highest market  bid $250,000. GMAC had details about the property, marketing, current market conditions, but they bought the house anyway? They ignored information and reports from professional short sale experts, including a lawyer and real estate broker. WHY? Lenders buy a third party opinion of value. known as a "BPO" -  a broker price opinion -. The BPO is a local summary of information and opinions from a local real eststate agent. The lender will only pay $40 to $75 to obtain this report. From this report they derives their data which will dictate their decisions about foreclosure, loan modification, or short sale. They do not share their this opinion during any negotiaions with home owners or other professionals during negotiaions, causing asset managers to make many bad decisions. This property will be sold by the lender as an "REO", - real estate owned -. The lender will hire a new agent that may be the agent  who did the BPO report. The company that was selling the property loses their contract.  Final result ?  Waste. Taxpayers pay the losses. The short sale seller, wasted effor, t. GMAC wins because they are paid service fees no matter how they mismanage. The BPO agent may win a contract to sell the house. The short sale broker loses their time and expenses.

PS Wachovia recently shared in a seminar some local statics showing short sales had produced 25% or more in net savings to the lender and borrowe,r as compared to the foreclosed bank owned sales.       

Published by  - Mike Jaeger Live -

2010 - Sacramento California HOPE Real Estate - Loan Modification or Short Sale?

Free Consultation with HOPE Real Estate Inc.

- Mike Jaeger Live - March 11, 2010

California Update March 2010 - Sacramento and Placer county too, are asking this question after three years in a worsening market... Does loan modification or short sale, work better for me?  More than 15% of all home loans in America are behind on their payments. California has a higher percentage than the national average and Sacramento has a higher percentage than California... The good news, Sacramento has a lower percentage than Stockton.

Someone tell Rush Limbo that Rio Linda now has all the REO he can buy, cheap too. HOPE Real Estate Inc. is a firm that does not work for the bank like other Real Estate firms. HOPE works for individuals and businesses, our HOPE is for America. Free consultations with HOPE Realtors can help you with planning, tax advisers, and lawyers. If your a seller in 2010 the odds are you owe more than your property is worth. Keep it and work with your lender? Sell it and work with your lender? Litigate? Walk away? Forebearance? Modifications? Short Sale? HOPE Real Estate Inc. has smart Commercial Investment Realtors trained to help you solve these problems.

Do you want to know more?

http://mikejaegerlive.com/ or email MikeJaeger@Live.com (916) 222-9095.