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Marcy Moyer's Blog – August 2011 Archive (5)

I Want To Short Sell My House, Now What?

If you find yourself in the position of having to sell your home and it is not worth as much as you owe, you may be wondering what you should do. I am assuming here that you have either been turned down for a loan modification or have to move because of divorce, job transfer, or other circumstance.

So you have to sell. Here is what you should…

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Added by Marcy Moyer on August 31, 2011 at 5:11pm — No Comments

East Palo Alto Short Sales: Watch Out For Rental Restrictions

 

East Palo Alto short sale

 

There is another conflict brewing between investors and first time home-buyers, and this time the home buyers may win. In the more affordable areas of the Silicon Valley distressed properties, ie short sales and reos have been popular with investors and first time buyers. Many would be owner occupiers lose out on great opportunities to investors who have all cash.  Since condos are the least…

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Added by Marcy Moyer on August 27, 2011 at 4:24pm — No Comments

Past Due Menlo Park HELOCS Can Be Sent To Collection Agencies

If you are an owner of a home with a second loan that is a Home Equity Line and you are having trouble paying your mortgage you should do something about it right away. I know you have probably heard that banks are taking up to 2 years to foreclose so you have plenty of time, but there is a dirty little secret in the mortgage world.  HELOCs are not entirely like traditional mortgages, they are more like credit cards. If you do not pay your first mortgage your lender needs to find a way to…

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Added by Marcy Moyer on August 23, 2011 at 10:51am — No Comments

Menlo Park Probate Short Sale: Why Bother?

The question of whether to short sell a home in probate used to be rare, but now unfortunately it is not. There are estates where the owner dies, owes more than the house is worth, and a decision needs to be made by the Personal Representative (executor) as to what to do.

My opinion, try it. If it is in the best interest of the bank/investor to short sell rather than foreclose they will do it. If it is not, they won't and will…

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Added by Marcy Moyer on August 7, 2011 at 9:52pm — 1 Comment

Menlo Park Short Sale in Probate, Should I Bother?

The question of whether to short sell a home in probate used to be rare, but now unfortunately it is not. There are estates where the owner dies, owes more than the house is worth, and a decision needs to be made by the Personal Representative (executor) as to what to do.

My opinion, try it. If it is in the best interest of the bank/investor to short sell rather than foreclose they will do it. If it is not, they won't and will…

Continue

Added by Marcy Moyer on August 7, 2011 at 8:00pm — No Comments

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