Hi, I’m Jason Zweigle here with ShortSaleSlayerz.com. We’re one of Northern California’s premiere short sale teams. Thank you very much for visiting our website. Today we’re going to talk about the Chase Bank HAFA short sale program. Chase is participating in the HAFA short sale and if you don’t know what the HAFA short sale is, let me explain it real quick. The HAFA short sale is a short sale program that the federal government came up with from the HAMP program. It’s kind of a sister product to the loan modifications that were such a colossal failure. The federal government realized that short sales were a way to dig ourselves out of this and it’s a viable option to foreclosure and in fact probably the best option to foreclosure.

Now Chase and the other larger banks are actively participating in the HAFA short sale program and the HAFA short sale program essentially guarantees you $3,000 at close of escrow for moving expenses. Also both lenders will agree to forgive the remaining balance of the short sale. Now recently you may be aware of the new senate bill that was passed in California which lenders automatically if they agree to do a short sale in California, they have to forgive you of the balance. So HAFA short sale with Chase gets you $3,000 for moving expenses, complete forgiveness of any of the debt. You’ll be able to walk away free and clear.

Chase is a great bank to work with and the HAFA program. They move pretty swiftly and are pretty efficient in their decision making process. There is a lot of information about the HAFA short sale program with various banks.

Please give me a call so we can talk about the details. Our number is 1-800-646-0362 or you can fill out our information below. Check out our new mortgage calculator. It’s a short sale calculator that tells you what your home is worth, how far underwater you are and how long it would take you to get out of the debt that is your home right now. It’s a great tool and it’s free. Have a great day, thank you very much.

Hi, I’m Jason Zweigle here with ShortSaleSlayerz.com. We’re one of Northern California’s premiere short sale teams. Today we’re going to be talking about a hardship, specifically divorce. Obviously divorce is a very difficult situation that people unfortunately go through more often than not, especially when they’re enduring financial hardship. We do get a lot of folks that call us and say they’re going through a divorce but they don’t know what to do with their house. Neither of them wants the house, they just want out. In a difficult situation such as divorce, a short sale can sometimes eliminate one of the biggest headaches of a divorce and that’s what to do with the house. Many of times in a divorce neither the husband nor the wife wants to keep the home. Also in today’s market, most of the homes are upside down anyway.

A short sale is a really good solution to aide an amicable divorce getting rid of an asset that is undervalued and underwater. Basically we work with both the husband and wife individually, independently of one another, collecting financial information and submit it to the bank. Even if combined the bank looks at your financial situation and sees that you can afford the mortgage, divorce is a legitimate hardship and the bank will automatically agree to a short sale. We are here to assist you and make this transition easier for you. We can help handle one of the biggest problems in the divorce and that’s what to do with the home. There’s no reason to let your home go to foreclosure just because you’re going through a divorce. There’s no longer a deficiency in California when you do a short sale so you won’t owe any money. You can possibly get paid money from the bank to do a short sale. So there are a lot more advantages to doing a short sale over a foreclosure.

If you have any questions about this difficult situation, feel free to give me a call on the 800 number located on the website, or fill out the form below and there’s a great free download that will give you a lot more information about short sales. We’re ShortSaleSayerz.com, one of Northern California’s premiere short sale teams and we look forward to hearing from you. Thanks a lot and have a great day.

Hi, I’m Jason Zweigle with ShortSaleSlayerz.com. We’re one of Northern California’s leading short sale teams. Today I want to talk about what many homeowners are concerned about and that is, what it will cost you out of pocket to do a short sale. The good news is it should cost you nothing to do a short sale. I’m surprised at how many people don’t realize that a short sale is free to you, the homeowner. The reason that it’s free to you is that the bank pays for all the traditional closing costs that are involved with selling a home. They pay things such as your portion of your title and escrow, inspections, sometimes repairs, and realtor’s commissions.

I tell my clients if a short sale runs perfectly smooth, they should be able to walk away from a huge debt in an underwater home, they will hopefully receive $3,000 walking money because they have an approved HAFA short sale, and lastly, they will have no out of pocket expenses. Everybody’s short sales are different, but on average I would say the majority of my clients are able to walk away owing nothing and receive $3,000 to move out of their home, courtesy of Uncle Sam.

So, if you have any questions go ahead and fill out the form below. There is also a great free download with a lot of information on it. Another option is to give me a call. My number is on the website. We’re ShortSaleSlayerz.com, one of Northern California’s leading short sale teams. We look forward to talking to you soon. Thank you and have a great day.

Hi, I’m Jason Zweigle here with ShortSaleSlayerz.com. We’re one of Northern California’s leading short sale teams. Thank you for visiting our website. Today we are going to talk about the new California Senate Bill SB458, which is the anti-deficiency assembly bill. Essentially it’s an amendment to a previous bill that was passed about deficiencies in the state of California. If a lender agrees to do a short sale, the first lien holder could no longer come after a seller for a deficiency and they would waive all deficiency rights. In other words, they couldn’t come after you and ask you to repay the forgiven balance of the short sale.

This new senate bill adds a protection to second lien holders. If you have a first and a second and they agree to do a short sale, that’s it; you’re out of debt, you’re done with a short sale and you will owe no more money. This bill only applies to short sales and not foreclosures. Many people are handing the banks the keys and walking away. This isn’t a good idea because the second lien holders can come after you for the remaining debt because you actually walked away from it.

This new senate bill is a great advantage in the short sale game for the California consumer. Also, one other added stipulation, the banks can no longer ask for a contribution from the seller. So they can’t say, hey give us $10,000 and we’ll do a short sale. You can offer as a way to incentivize the bank to agree to a short sale and sometimes that’s a good move. The buyer can offer $4,000 to $5,000 to make the deal go through. They’re getting an incredible deal anyway, so if they have to add a little money to make the deal go through, it’s no harm no foul.

If you have any questions, you can reach out to me. My number is on the website or you can fill out the form below. We’re ShortSaleSlayerz.com and one of Northern California’s leading short sale teams. We look forward to hearing from you soon, have a great day.

Hi, I’m Jason Zweigle with ShortSaleSlayerz.com. We’re one of Northern California’s leading short sale teams. Today we’re going to answer the million dollar question, Is your home underwater? That means basically you owe more to your bank than what your home is worth. This is universally the most asked question. Most people know their house is under water, but they don’t know by how much. If you have an underwater mortgage, you are probably wondering how much your home is worth and how far upside down you are. You may also be wondering how you will ever get out of this mess. I think that a short sale is a great solution to get out of being underwater. Foreclosure is also an option but with that comes a lot of legal and financial burdens that can be associated with foreclosures.

We have a great new tool that we want to offer you for free. This is our new short sale calculator. We’ve partnered up with Zillow to provide you with some key pieces of information; A. What is your home worth? B. How far upside down are you, and C. How long will it take you until you have a zero equity balance? Right now, many of you watching this owe far more than what your home is worth. Hopefully you can use the short sale calculator to decide if a short sale is right for you or if you should keep your home.

Fill out the form below and reach out to us. Take advantage of this free tool, there’s no obligation whatsoever. We also have a free download with some great information about short sales. Thank you for visiting ShortSaleSlayerz.com, where we are one of Northern California’s leading short sale teams.

If you have any questions, you can call us at any time. Our number is 1-800-646-0362 or visit the website. Thanks a lot, and have a great day.

Hi, I’m Jason Zweigle with ShortSaleSlayerz.com. We’re one of Northern California’s leading short sale teams. The topic today is what to do when you can’t make your mortgage payments. There are several options for you if you can’t make your mortgage payments. You can reach out to your bank and talk to them about a loan modification. Many people are attempting to do loan modifications and it’s the most frustrating experiences they’ve ever gone through. Whether the bank won’t respond or lose your paperwork ten or fifteen times. I’ve even heard stories from clients that didn’t go through us and wound up trying to do a loan modification and lost their home to foreclosure in the middle of loan modification. In our opinion a loan modification isn’t the greatest solution.

You can also do foreclosure, just walk away and let the bank take it back. This also isn’t the best solution. You can also do a deed in lieu of foreclosure and what that means is you tell the bank they don’t need to foreclose on your home, you will voluntarily leave. No harm, no foul. Foreclosure and deed in lieu of foreclosure both have a negative impact on your credit. Both of those also leave you open to second lien holders and sometimes first lien holders being able to come after you to try and collect that unpaid balance. That can be a scary thing as well when you’re trying to recover financially.

I think a phenomenal solution in today’s market and the banks are starting to see that short sales are what are going to dig us out of this real estate nightmare and this huge loss of value. Number one, a short sale is a huge benefit to you the seller. You can walk away from your home, get out of debt, not owe anything, actually get a little bit of money in your pocket and move on. For the bank, they get a little bit more money from a short sale than a foreclosure. The rest of the neighborhood won’t have the unsightly vacant homes that are getting vandalized.

So if you have any more questions, fill out the form below. You can also use the form below to get to our free short sale calculator. It’s a great tool and I really encourage you to use that. We’re ShortSaleSlayerz.com, one of Northern California’s leading short sale teams. We’re here to help you make the right decision for your situation. Have a great day, thank you very much.

Hi, Jason Zweigle here with ShortSaleSlayerz.com, we’re one of Northern California’s leading short sale teams. Thank you for visiting our website. Today we’re going to talk about the part 2 of the Bank of America HAFA short sale program. I wanted to expand a little on how we approach the short sale option. In the first video, we talked about going through the front door of the HAFA program where we get the bank’s sale price. It’s like a preapproved short sale. That’s a catastrophic mistake for any agent or consumer to ask the bank to give you a price to sell your home. There is a back door HAFA program that we use and basically we take an offer and submit it and then we request for HAFA short sale approval, getting you the benefits of the HAFA short sale, the $3,000, but not having the bank meddle with our sale price and contract.

A lot of this is also investor driven. You have a servicer such as Bank of America and sometimes they have a portfolio loan meaning it’s their money that’s invested in the home, but more often than not, it’s going to be a Fannie or Freddie or maybe even Wells Fargo or Chase’s money or some other investors. We also have investor guidelines that we have to get through to get a HAFA short sale approval.

I recommend if you’re going to consider a short sale or a HAFA short sale that you definitely work with a highly experienced agent that’s done numerous short sales. I would say 50 to 60 plus before they have real tried and true experience so they know how to navigate through these challenging short sales. The good news is, contrary to popular news out there on the websites and news reports, HAFA short sales are a great solution, it guarantees the consumer $3,000 at close of escrow and it guarantees forgiveness of any debt. It’s also good for the second lien holders because the first will give the second a little bit more money which gives the second lien holder more motivation to agree to the short sale. We need the second lien holder’s blessing and approval to actually do a short sale.

If you have any questions, give me a call, my 800 number is posted on the website or fill out the form below. There’s a great free download with additional information about short sales. We are ShortSaleSlayerz.com, one of Northern California’s leading short sale teams. I look forward to hearing from you soon. Thanks and have a great day.

Hi, Jason Zweigle here with ShortSaleSlayerz.com, we’re one of Northern California’s leading short sale teams. I wanted to talk today about the Bank of America HAFA short sale. Many folks out there don’t really know what a HAFA short sale is, and it’s basically a federal government backed short sale plan that many of the banks that participated in TARP also participate in the HAFA program. The HAFA program follows some federal guidelines, some bank or servicer guidelines, and some investor guidelines. So, it can get a little bit complicated. In general, there are two ways to do a short sale with the Bank of America HAFA program.

The consumer or the agent can apply to get a pre approved HAFA short sale, and I think this is a huge mistake, and it’s why the HAFA short sale has such a bad name out there. Basically a consumer or agent goes to the bank and tells them they would like to do a short sale. The bank thinks that’s great and requests some financial information and they’ll send out their loan agent or appraiser to give a fair market value for the home. There’s the problem right there. They want to establish the price of the home and they aren’t the principle in the transaction, so they should not be dictating the sale price of the home. They’re going to send somebody out and more often than not, they’re going to tack on 20% on top of that list price or that suggested list price and then give you 120 days to sell the home. If you don’t sell it, then they’ll do a deed in lieu of foreclosure or foreclose. This isn’t a good option.

The way we approach a HAFA short sale with Bank of America, is that we go in the back door. We’ll initiate your short sale with Bank of America as a traditional short sale. We’ll sign a listing agreement with you, and we’ll establish fair market value for your home and then list the property. Then once we have an offer, we will submit that offer to the bank and request a HAFA short sale approval. The great thing about the HAFA short sale approval is both lenders have to agree to the short sale and has to agree to forgive you of any remaining balance or deficiency.

On top of that, they will also offer $3,000 to you the seller for moving expenses at close of escrow that’s paid right from the title company when the deal closes. We’re ShortSaleSlayers.com, one of Northern California’s leading short sale teams. I’ll expand more on this in my part two video. Thanks a lot and have a great day.

Hi, I’m Jason Zweigle with ShortSaleSlayerz.com. We’re one of Northern California’s leading short sale teams. Thank you for visiting the website. Today I’m wrapping up my three part series on strategic default with the bail and buy program. Believe it or not, you can complete a short sale of your current home and buy a brand new or new to you home while you are doing a short sale as long as the new purchase closes after the close date of your short sale. You have to be current and you have to qualify for this new FHA loan. There is an FHA loan program out there for people who really need to downsize.

The reason that this loan is in place is because the industry and the government recognize that people are walking away from their mortgages because they’re well underwater. So in what I call the bail and buy program, you can do a short sale, you have to qualify for the new loan, you have to be current on your existing home loan, and you have to downsize your home. It’s a phenomenal solution if you’re a strategic defaulter or if you’re just someone that doesn’t want to deal with an underwater home.

You can sell your home that’s underwater today, purchase a new home for fair market value and be well ahead of the game and be well positioned to experience this real estate recovery that is on the horizon. It might not be today or tomorrow, but we will have a real estate recovery and there will be money to be made during that recovery.

So if you have any questions about the bail and buy program, reach out to me by giving me a call on our 800 number, or fill out the form below. You can also download our free short sale information. We’re one of Northern California’s leading short sale teams and we’d be happy to chat with you. Thanks and have a great day.

Hi, I’m Jason Zweigle here with ShortSaleSlayerz.com. We are Northern California’s leading short sale team. Today I want to talk about the steps to approach a strategic default. It’s real simple how you do a strategic default in my opinion. Number one, I am not an attorney or an accountant, so if you’re going to consider a strategic default, you might want to speak with an accountant or an attorney to see what the legal and tax ramifications may be.

If you are a homeowner that can afford your mortgage payments and you want to protect your credit, we are here to help. We will simply come in, list your home and present an offer to the bank. Then the bank will ask us for your financials and we will present them to the bank. The bank may ask questions about why you are short selling when it looks like you can afford your mortgage payments. We answer those questions honestly with integrity and we let them know your intensions. If you are going to do a default, you basically tell them you are either going to do this short sale or let your home go to foreclosure because you don’t want to stay in a home that’s $100,000 to $200,000 upside down. More often than not, the bank is going to figure out it will make sense for them because they get more money for the short sale then if it goes to foreclosure.

So, you will continue to make payments, we go ahead and complete the short sale and you are done and put that debt behind you. There will be a derogatory remark on your credit report. It will say something to the effect satisfied in full, short pay, and that does have a negative impact on your credit report. If you remain current during that time, you can actually buy a home either simultaneous close or after you close your escrow on your short sale, there are loans in place where you can buy a downsized home or home of lesser value. This is great news on the strategic default process.

Thank you for visiting the website, ShortSaleSlayerz.com, we are Northern California’s leading short sale team. If you have any questions, you can reach out to me at my 800 number or just leave a comment and check out our free download on short sales. Thanks and have a great day.