Category Archives: Short Sale Info

What Should I Say In My Short Sale Hardship Letter?

Posted on July 27, 2011 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

As a Santa Maria short sale agent, this is probably the most common question I’m asked by potential short sale sellers. It can easily become the “never-ending term paper,” you know, the one you never start writing? Short sale sellers tend to put off and put off writing their hardship letter. It is a bit different than a loan modification hardship letter, where the purpose is to indicate that you have it hard but you can still afford to stay in the home if your lender makes a few changes to your loan. Continue reading →

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5 Reasons Why Now Is the Time For A Short Sale of Your California Home

Posted on July 20, 2011 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

California Senate Bill 458 (SB 458) – Just signed into law by Governor Jerry Brown on July 15, 2011 and effective immediately thereafter, it prevents junior lien holders who have accepted a short sale from pursing a deficiency against the short sale seller. This law expands the protection provided in Senate Bill 931, and is a major development in the area of short sales. And, I think it makes the case in favor of short sale vs. foreclosure Continue reading →

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Top 5 Mistakes Short Sale Sellers Make

Posted on July 6, 2011 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Top 5 Mistakes Short Sale Sellers Make As a Santa Maria Short Sale Agent, I see short sale sellers make critical mistakes time and time again.  Here is my list of the top 5 mistakes I see: 1)   They … Continue reading →

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What is a Short Sale?

Posted on June 29, 2011 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

What is a Short Sale? It seems that everyone is talking about short sales these days. But, what is a short sale? Simply put, a short sale allows you to sell your home for less than what you owe. It … Continue reading →

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To Pay or Not To Pay That Is the Ultimate Short Sale Question

Posted on June 26, 2011 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

I find that many people with high incomes and/or substantial assets often make the strategic decision to stop making payments because they do not believe that the lender will consider their hardship case without it. So, they are not making payments to drive home the issue of hardship to the lender. Continue reading →

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Is A Short Sale The Same As A Pre-Foreclosure?

Posted on June 17, 2011 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

No, a short sale is not the same as a pre-foreclosure. A pre-foreclosure home has begun the legal process of foreclosure in California. Typically, this means that a Notice of Default has been sent to the home owner and filed at the County Recorder’s Office. Notices of Default are a matter of public record, and as such it is relatively easy to determine if a Notice of Default has been served on the property owner. After three months, if the Notice of Default is not cured by the home owner, the lender can then file a Notice of Trustee’s Sale. During this time period, people will often refer to a home as a pre-foreclosure. Continue reading →

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I’ve Seen The Middle Class Bail Out And It Looks A Lot Like A Short Sale

Posted on June 15, 2011 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Lately, my phone has been ringing off the hook. As a Santa Maria short sale agent, I am used to receiving urgent calls from homeowners in distress. Some are weeks away from foreclosure auction, others are at the precipice of missing their first mortgage payment. These are tough times for many California homeowners. Continue reading →

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Short Sales & The Point of No Return

Posted on June 4, 2011 by admin

Have you reached the point of no return? I meet and speak with people considering short sales almost everyday. Some are ready to begin the process and some are not. I tell each one of them — I don’t talk people into short sales — most people who want to list their home as a short sale know it before call me. Continue reading →

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Two Loans with Bank of America and Short Sale Approval Received in 37 Days!

Posted on May 21, 2011 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

I have another short sale success story to report. Just last month, I received short sale approval on a file, with two Bank of America loans, only 37 days after the offer was presented via the Equator system. So, the fact that this was a short sale only added about one month to the total time it took to get an approval from Bank of America and close escrow. Both loans were processed concurrently through the Equator platform that Bank of America uses for its short sale processing. Continue reading →

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I Haven’t Missed Any Payments — Can I Apply for A Short Sale?

Posted on May 19, 2011 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

As a Santa Maria Short Sale Agent, I am asked this question by potential short sale sellers all the time. It is important for those inquiring to understand that even though they have not missed any payments, they may have an “imminent hardship” that would qualify them for a short sale. Imminent hardship means that your hardship may not be here today, but it is definitely on the horizon. And you do not have to currently be in default on your payments to apply for a short sale. A well documented imminent hardship may be enough. Continue reading →

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