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Did you ever hire an agent? I know you go a lot of opinions including loan modification, however, I wanted to reconnect with you and see if I can be of assistance as I am a highly regarded and experienced short sale broker. Let me know if I can assist. Thank you.
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills East
9388 Santa Monica Blvd, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0670 fax ATT: RJ
RichardKas@gmail.com - http://www.RJforLA.com - DRE: 01352771
Sellers Buyers Investors Leasing Consulting
The reality for short sale negotiators is that you must be persistent and dogged in your determination and unwillingness to take no for an answer. If you try to negotiate a sale for the first time, what you will find is a never ending maze of phone extentions, disconnected phone numbers, departments that no longer exist and conflicting information "in the file notes" depending on whom you finally speak with. It feels to a negotiator as if there is a deliberate conspiracy and smoke screen to prevent your success.
The screen can be broken - the file can be pushed through the maze, but only if your negotiator is willing to spend countless hours, is talented in getting through roadblocks and unwilling to give up or just take the first answer. Nice doesn't cut it. Trusting what you are told and playing the waiting game will only accomplish getting your file moved to the bottom of the pile. A negotiator must be polite, appropriate, but firm and persistent. My professional negotiator was told on 4 different occasions during the process on the latest deal that nowhere in the file did they have authorization to speak with us (despite the fact we'd been working with them actively for 2 months.) Then magically, the authorization appeared again... It's mind numbingly frustrating - but can be done.
The process will take you at least 3 months, and up to 6 with a good negotiator. There are strategies for getting better results. Normal logic - i.e. submitting the very highest possible offer for approval isn't always your best approach. Many times the bank comes back with a net demand for the first, and an additional demand for the second. If you've pushed the buyer to their highest offer, you may have a dead deal, and you may or may not have time to start over with a new offer.
It's vital to stay on top of trustee sale dates. One department may be talking to you while the other is selling the property out from under you.
There are many things to know - interview a number of agents - ask very specific questions about how they would respond to various scenarios - if the bank says no? - how often do they check on the file? - how do they handle the bpo? what is their strategy for short sale success, specifically? Here's a thought - ask if you could possibly speak to the negotiator who will actually handle the process before you hire the agent.
If the agent can't or won't answer these kinds of questions for you in an intelligent and "not vague" manner, chances are, they are blowing smoke - move on. Not every short sale works even with the best team on earth - but your chances are infinitely better if you have the right team on the job.
Jeri Creson, Broker
TotalAccess Realty Advisors
My first question to you would be is their hardship either by job loss, job transfer or health issues. The banks won't typically help just because your home is underwater.
Perhaps a Loan Modification would work. Please visit my website. I list direct bank contacts with phone numbers. You can do the loan modification yourself without paying any up front fees. My site also has up-to-the-minute short sale/foreclosure listings in the prime westside of Los Angeles. Please review them to get an overall idea of this market. I don't ask you fill out any forms for the answers. The listings and bank contacts are available now. Please contact me for honest straight forward answers.
Certified Short Sale Specialist
New Century Realty
I can only (ethically) work only with Counsel and / or Realtors so this is not spam or intended to violate california mandates against the Loan Mod Squad.
Use everything in your arsenal available to yu and prepare to anticipate the lender efforts to circumvent your rights which is an entitlement here in California to a benficiary and servicer under an accelearation and Power of Sale.
Realtors who know about these lawful angles are around....most are taken off the market and can be found doing cash for keys. Other names are available ? Let me know and a few questions and answers will tell me if they are on or not.
Who do you trust. . . .hmmm! Big retainer from a law firm must include recent success' and assurances for delivering the goods. Try Carl Kop Esq who likes to reduce his legal fees in these matters when a borrower is in distress. Also A Kulack Esq and S Rabin Esq. firstname.lastname@example.org
It appears that you have done initial research with regards to the short sale process. You're leaps and bounds ahead of most owners who are under-water with their property. I am a Broker specializing in Los Angeles short sales at my firm and can answer any questions you may have about the process, how it affects your credit, how it affects your taxes, and positioning your property so that it draws interest from buyers given that your building has competing units.
The Realty Exchange Firm
Feel free to take a look at our short sale guide:
A short sale can be a great solution depending on your situation. There are numerous factors that should be considered before coming to the conclusion that a short sale is right for you. When I have short sales I always work with another agent in my office who only does short sales. She is excellent and has the negotiation experience with banks to close the deals and weigh every best option.
Please give me a call and it would be great to meet with you and discuss your situation.
Keller Williams Realty
I know the feeling. Condos have been hit hard. We have closed short sales with Country Wide, GMAC, BofA, Wells Fargo to a name a few. My husband/partner is an attorney, broker and agent. You really don't need to do anything at the moment as far as starting the short sale process until you get an offer. There are steps you can take to prepare for the process (preparing your package) and if you decide to list with us we can assist you with the process and negotiang your short sale. One question I have is how far (in any) are you behind on your payments?
Give us a call when you have a moment or let me know a good time to meet to go over your questions/concerns.
Look forward to meeting you.
Monique Carrabba and Joe Carrabba
The Carrabba Group
Keller Williams Hollywood Hills