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Welcome to The Sherrill Cody Real Estate Team Foreclosure Website :
Serving the East Bay cities of Alameda California.
Cities covered are Livermore, Pleasanton, Dublin, San Ramon & Danville
In 2008-2009 our local economy has been bogged down in a recession and real estate values on all of our homes have been dropping.
This website is dedicated towards helping sellers who are trying to avoid foreclosure, and to buyers who may want to take advantage of the outstanding financial opportunities available by purchasing foreclosed homes.
*Buyers*
Learn how to buy bank owned homes at greatly discounted prices! Learn how to buy foreclosed homes at county auctions, again, at discounted prices.
How to buy a foreclosure .. click here and click on the buyer resources tab to the left
www.ehow.com/how_111013_buy-foreclosed-home.html
*Sellers*
Are you facing foreclosure in 2009? Learn about all of the options, to avoid foreclosure, that are at your disposal. Learn about the new Federal Government bailout plan that may help you.
How to avoid foreclosure .... click here and click on the seller resources tab to the left
www.ehow.com/how_7235_avoid-foreclosure.html
Here is more information on how to do a short sale in order
to avoid foreclosure?
Short Sale - When the homeowner owes more on their loan then the property is worth, this may qualify the homeowner for a short sale, provided they can prove financial hardship to the lender. Short sales are complicated transactions and most homeowners need the help of a professional short sale specialist with this. We can help homeowners. We'll negotiate with lenders, on your behalf, to get them to approve a short sale.
Doing a short sale, in lieu of foreclosure, can help save your credit rating. As of Jan. 2009, a short sale stays on your credit report for 2 years, while a foreclosure stays on your credit report for 7 years. Plus by doing a short sale your credit scores do not go down as much as they would from a foreclosure.
Here are the steps involved with a short sale. We can help you with this entire process. We'll do all of the work, with the bank, on your behalf. You do not pay realtor fees. they are paid by the bank.
#1 Verify the value of your property. If you are selling the property through a real estate broker, your broker will provide you with an estimate of market value. If you are selling the property yourself, do your own market analysis of the area and your property.
#2 Add up all the costs of selling the property. If you are using the services of a real estate broker, the broker will provide an estimate of closing costs. If you are selling the property on your own (for sale by owner), call a local title company or real estate attorney and ask, as a seller, what the closing costs will be.
#3 Determine the amount owed against the property. This will be the total of all loans against the property.
#44Do the calculations. Subtract the total amount owing against the property from the estimated proceeds of the sale. On a short sale, this will be a negative number.
#5 Contact the lender or lenders. Talk to someone in the customer service department and tell them the situation. They may direct you to a specific department. Talk to a supervisor or manager if possible; this person will have more authority. Request their lender short sale package.
#6 Ask the lender what its procedures are for a short sale. Many lenders will foward a short sale package to you. Some lenders are willing to work with you by reducing the amount owed or making other arrangements. Other lenders will tell you that your debt is your responsibility, one way or the other. We can help you negotiate with the bank if you don't get the answers that you want from them.
Different lenders have different ways, and guidelines, for handling your short sale. We have experience with most major lenders on how to handle these short sales so that your home does not go to foreclosure. Email me at SherrillCody@kw.com.
#7 We'll help you sell the property and we'll handle all of the work with the bank .... too.
