San Diego Short Sale Realtor | San Diego Short Sale Agent | San Diego Short Sale Expert

San Diego Short Sales Bank of America Short Sale Cash Back

Joy Bender — Thu, 17 May 2012 18:54:58 +0000

Short Sale Relocation Assistance Program:
You could receive $2,500 to $30,000 in relocation assistance
Bank of America is excited to announce that for a limited time, they are offering enhanced relocation assistance payments in which qualified homeowners who initiate a short sale without an offer could be eligible to receive $2,500 – $30,000* in relocation assistance and owe no more on their mortgage with the sale of their property.

The homeowner must participate in one of the preapproved price short sale programs, such as HAFA (Home Affordable Foreclosure Alternatives) or Bank of America’s proprietary program. Specific investor participation and eligibility criteria do apply to these programs.

Q: Will the relocation assistance funds be reported on the HUD-1?
A: Yes, funds received at closing will be documented on the HUD-1, and a 1099-MISC will be issued.

Q: Can the relocation assistance funds be used to pay off existing liens?
A: Yes, the homeowner may use funds to pay off existing liens or to help with relocation expenses.

Q: Is the relocation assistance added to any other incentives, such as the HAFA or Bank of America proprietary program incentives?
A: The homeowner incentive will be inclusive of the $3,000 HAFA incentive. For example, if the homeowner is eligible for a $5,000 homeowner incentive, $3,000 will be from the HAFA incentive, and $2,000 will be from the homeowner incentive.

Q: Is the enhanced relocation assistance available for other programs?
A: Currently, the enhanced relocation assistance is only available to short sale programs initiated without an offer. However, as we gauge the success we may extend this incentive to other programs.

*The relocation assistance payment is calculated based on the appraised value of the homeowner’s property. The total amount will be no less than $2,500, but no more than $30,000. The payment will be delivered at the time of closing if the homeowner complies with all terms and conditions of the Short Sale Agreement, which includes but are not limited to the following: a full walk-through appraisal must be completed and the homeowner must satisfy all junior liens and provide clear title for the property (the relocation assistance payment can be used to clear those liens). The short sale must close by September 26, 2013. If the homeowner does not comply with all terms and conditions of the Short Sale Agreement, they will not receive the relocation assistance payment. The amount of any deficiency and relocation assistance will be reported to the Internal Revenue Service (IRS) on the appropriate 1099 Form or Forms. We suggest that the homeowner contact the IRS or their tax preparer to determine if they have any tax liability.

Navy Federal Credit Union Short Sale

Joy Bender — Sun, 22 Apr 2012 16:59:21 +0000

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Information for Navy Federal Credit Union submission of short sale package.

Download Here: Navy Federal Credit Union Short Sale Packet

Download Here: Navy Federal Credit Union Authorization To Release Information

Joy Bender knows the intricacies of the luxury real estate market of San Diego and it’s most premier neighborhoods while offering an unparalleled degree of personalized attention to her discerning clientele. She specializes in highly confidential representation of both buyers and sellers who lead a demanding lifestyle. With her extensive experience in San Diego waterfront estates and luxury properties, Joy offers her clients invaluable market knowledge, superior negotiation, and legendary customer service. Joy has helped over 1,000 clients in the past 12 years with their real estate needs.

Joy’s real estate articles have been published nationwide in over 358 newspapers, online news services, and magazines. Most notably the Wallstreet Journal Marketwatch, The Boston Globe, nationwide Business Journals, Reuters, The San Francisco Chronicle, CNBC, and The Houston Chronicle. Additionally she has been interviewed on the local FOX 5 San Diego TV station regarding the Real Estate Market.

Joy Bender holds the following designations and certifications:

Certified Distressed Property Expert
Short Sale Foreclosure Resource
NAR Green Designee
NAR Resort & Second Home Property Specialist
Certified Investor Agent Specialist
Member of The Institute for Luxury Home Marketing

Call Today for a free no obligation consultation: 760-212-2717

Indymac Short Sales

Joy Bender — Sun, 22 Apr 2012 16:50:54 +0000

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April 19th 2012 Indymac ordered the BPO less than 24 hours from receiving my short sale package. The BPO agent met me at the property less than 72 hours from submission of short sale package.

Download Here: Indymac Short Sale Packet

Download Here: Indymac Financial Statement

Download Here: Indymac Purchase Eligibility

Download Here: Indymac Authorization To Release Information

Joy Bender holds the following designations and certifications:

Certified Distressed Property Expert
Short Sale Foreclosure Resource
NAR Green Designee
NAR Resort & Second Home Property Specialist
Certified Investor Agent Specialist
Member of The Institute for Luxury Home Marketing

Call Today for a free no obligation consultation: 760-212-2717

US Bank Short Sales

Joy Bender — Sun, 22 Apr 2012 16:37:38 +0000

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Download Here: US Bank Short Sale Packet

Joy Bender knows the intricacies of the luxury real estate market of San Diego and it’s most premier neighborhoods while offering an unparalleled degree of personalized attention to her discerning clientele. She specializes in highly confidential representation of both buyers and sellers who lead a demanding lifestyle. With her extensive experience in San Diego waterfront estates and luxury properties, Joy offers her clients invaluable market knowledge, superior negotiation, and legendary customer service. Joy has helped over 1,000 clients in the past 12 years with their real estate needs.

Joy Bender holds the following designations and certifications:

Certified Distressed Property Expert
Short Sale Foreclosure Resource
NAR Green Designee
NAR Resort & Second Home Property Specialist
Certified Investor Agent Specialist
Member of The Institute for Luxury Home Marketing

Call Today for a free no obligation consultation: 760-212-2717

Citibank Citimortgage Short Sales

Joy Bender — Sun, 22 Apr 2012 16:31:38 +0000

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Download Here: Citibank Short Sale Packet

Download Here: Citibank Arms Length Transaction Affadavit

Joy Bender holds the following designations and certifications:

Certified Distressed Property Expert
Short Sale Foreclosure Resource
NAR Green Designee
NAR Resort & Second Home Property Specialist
Certified Investor Agent Specialist
Member of The Institute for Luxury Home Marketing

Call Today for a free no obligation consultation: 760-212-2717

GMAC Short Sales

Joy Bender — Sun, 22 Apr 2012 16:15:40 +0000

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Download Here: GMAC Short Sale Packet

Download Here: GMAC Arms Length Transaction Affadavit

Download Here: GMAC Hardship Affadavit

Download Here: GMAC Buyer No Flip Affadavit

Joy Bender holds the following designations and certifications:

Certified Distressed Property Expert
Short Sale Foreclosure Resource
NAR Green Designee
NAR Resort & Second Home Property Specialist
Certified Investor Agent Specialist
Member of The Institute for Luxury Home Marketing

Call Today for a free no obligation consultation: 760-212-2717

Chase Short Sales

Joy Bender — Sun, 22 Apr 2012 03:07:39 +0000

Search San Diego County Foreclosures & Short Sales

Download Here: Chase Short Sale Packet

Chase Short Sale Info

Joy Bender holds the following designations and certifications:

Certified Distressed Property Expert
Short Sale Foreclosure Resource
NAR Green Designee
NAR Resort & Second Home Property Specialist
Certified Investor Agent Specialist
Member of The Institute for Luxury Home Marketing

Call Today for a free no obligation consultation: 760-212-2717

California News Short Sales and Foreclosures 2012

Joy Bender — Fri, 20 Apr 2012 18:00:33 +0000

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The California average discount for pre foreclosures is 29.93%
It is taking an average of 370 days to foreclose in California as of 1st quarter 2012.

12.5 million or 25% of US homeowners are reported significantly underwater
4.5 million homeowners are 11-25% underwater
3.8 million homeowners are 1-10% underwater

It is now possible to see final bank responses on short sales as soon as 30 days from submission of purchase agreement and borrowers financial data as Freddie Mac and Fannie Mae are issuing new standards to all servicers.

Although receiving negative press quite frequently for lack of communication, mistakes, incompetence, and unfair practices Bank of America leads all lenders in approval of short sales and assisting homeowners with Bank of America loans to avoid foreclosure.

Top Lenders Servicers approving short sales

BOA
Chase
Wells
MERS
Bank of New York Mellon
US Bank
Citigroup
Deutsche Bank
Ally Financial
Lehman Brothers

Joy Bender holds the following designations and certifications:

Certified Distressed Property Expert
Short Sale Foreclosure Resource
NAR Green Designee
NAR Resort & Second Home Property Specialist
Certified Investor Agent Specialist
Member of The Institute for Luxury Home Marketing

Call Today for a free no obligation consultation: 760-212-2717

San Diego Strategic Default

Joy Bender — Fri, 20 Apr 2012 00:11:19 +0000

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A FICO survey of bank risk professionals found that 46 percent expect the volume of strategic defaults in 2012 to surpass 2011 levels, as more than 25 percent of U.S. homeowners owe more on their mortgages than their homes are worth.

Concerns about strategic defaults were also reflected in response to a question about the consumer payment hierarchy. When asked if the current generation of homeowners considers their mortgage to be their most important credit obligation, 49 percent of bankers said no and 29 percent said yes.

Although concerns remain regarding strategic defaults, other signs point to growing stability in the housing market. More respondents (26 percent) expected delinquencies on mortgages to decline in the coming months than at any previous time in the two years FICO has been conducting this survey. Furthermore, 53 percent of respondents said the housing market would improve by the end of 2012, compared with 24 percent who said the market would deteriorate.

More than half of survey respondents (56 percent) expected the supply of credit for residential mortgages to fall short of demand over the next six months. A similar majority (53 percent) expected the supply of credit for mortgage refinancing to fall short of demand, indicating that lenders remain cautious about the risks in the real estate market.

Joy Bender holds the following designations and certifications:

Certified Distressed Property Expert
Short Sale Foreclosure Resource
NAR Green Designee
NAR Resort & Second Home Property Specialist
Certified Investor Agent Specialist
Member of The Institute for Luxury Home Marketing

Call Today for a free no obligation consultation: 760-212-2717

2012 Short Sale Timelines

Joy Bender — Fri, 20 Apr 2012 00:07:55 +0000

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Effective for new evaluations conducted on or after June 15th, Freddie Mac has implemented new requirements where servicers must comply with the following minimum communication time frames for all short sales.

Within five days of an evaluation decision, but no later than 30 days following receipt of a complete BRP [Borrower Response Package], the Servicer must provide to the Borrower an evaluation decision and send the appropriate Borrower Evaluation Notice in accordance with Section 64.6(d)(5).

There may be some situations in which a Servicer will be unable to provide a decision within 30 days following receipt of a complete BRP (e.g., extended negotiations with the MI). In such cases, the Servicer must notify the Borrower within the 30 day time limit that the BRP is still under review and each week thereafter provide the Borrower a status update indicating the reason(s) why a decision is pending. The weekly status updates may be communicated verbally or in writing. However, the Servicer must provide the Borrower with a decision and send the appropriate Borrower Evaluation Notice no later than 60 days after receipt of a complete BRP.
Fannie Mae is also implementing new timelines.

Joy Bender holds the following designations and certifications:

Certified Distressed Property Expert
Short Sale Foreclosure Resource
NAR Green Designee
NAR Resort & Second Home Property Specialist
Certified Investor Agent Specialist
Member of The Institute for Luxury Home Marketing

Call Today for a free no obligation consultation: 760-212-2717