Foreclosure in 94803>Question Details

K, Home Owner in El Sobrante, CA

Looking for Ssale specialist for 94803,3 SS proposals failed, via equator- looking for specialist w/ alternatives-1 loan,2/4 auction date-interested?

Asked by K, El Sobrante, CA Tue Jan 18, 2011

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Mike Rowland’s answer
My brokerage is in El Sobrante. We have successfully closed lots of short sales. Contact us an we can discuss your circumstances.

Mike Rowland
400 Appian Way
El Sobrante, ca 94803
1 vote Thank Flag Link Sun Jan 30, 2011
No problem. We can help you. We are closing many files regularly via equator. Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.

Eli Givoni, Director
Short Sale Department, LLC
Serving all 50 states
0 votes Thank Flag Link Tue Jan 18, 2011
Please understand that many loans have a "backstop" in the form of a "loss share agreement" with the Feds that covers up to 90% of the "loss" in a foreclosure based on the ORIGINAL loan amount if the original loan was off loaded during the bank bailout. Therefore the bank stands to make more money, even a hefty profit, by foreclosing vs agreeing to a short sale.

If the bank did not counter the ss offers with an "acceptable" sales price (3 times), my guess is that there isn't one for the above reason.

Contact your attorney, or find a good BK attorney, and cover your own ASSets, because no one else will. It is simply another case of "follow the dollar". If it does not benefit the bank's bottom line, no matter who or what else is hurt, the bank will not agree to a ss.

Best of Luck!
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0 votes Thank Flag Link Tue Jan 18, 2011
That is going to be difficult. You will need to get it listed right away again and have the agent submit the forms immediately. It might be too late to hold off on the sale date.

You may have had the wrong agent working on the ss deal and may not have known how to deal with the bank. The next person you choose, which I am sure you will get lots of agents running for the job, must know how to stop the foreclosure process long enough to get another offer and make sure that they do everything they can to get the bank to accept the offer. Sometimes there is nothing you can do. Not all short sales get accepted by the bank and the bank takes the property back. Sometimes there is nothing you can do. I know that is not nice to hear but it is the truth.
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0 votes Thank Flag Link Tue Jan 18, 2011
I am interested. Depending upon lender, first we stop the foreclosure buy bringing an offer. I have investors ready and waiting for opportunities to buy. I am an reo specialist and I have established an investor list. They want to be notified of opportunities to purchase like yours. Let's talk. Maybe, I have a solution for you.
0 votes Thank Flag Link Tue Jan 18, 2011
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