My New Outside Blog: Four things you should do if you are thinking about Foreclosure or Short Sale

Four things you should do if you are thinking about Foreclosure or Short Sale

Good tips for sellers from Christina. There are more than a few methods to solve an owner's difficulties with their house.

Like Christina says, talk to people with experience and knowledge. The next door neighbor or the dog catcher may not be a good source of information.

Very well thought out tips. Sellers should be advised of all their choices and the possible outcomes.

Heaven help them with a loan modification program with BofA, though. Low rate of success to date. They ARE good at giving out HUGE bonuses though. Very sad.

Mr & Mrs Possible Seller call me, "I'm thinking about doing a short sale, what should I do first?" house thumbs down

I replied, "I recommend you do a few things before you decide to go forward with a short sale.  Short sale is not for everyone.  Foreclosure can sometimes be prevented.  Maybe a loan modification would be good for you.

  • If a lower payment is all you need (for ANY reason), you should call your lender & see if they have a loan modification program.
  • Check with a Bankruptcy Attorney to see if Bankruptcy is an option or not.
  • Check with your tax person to make sure you understand tax consequences of any choice you make.
  • Check with a Real Estate Attorney to know possible consequences of all your choices."

The best advice I could give to someone thinking about doing a short sale is STOP getting advice from your friends, co-workers & people that you know that have been thru losing or hanging onto their house.  I mean this in a loving, caring way, really.  Truly this is why.  EVERYONE's situation is UNIQUE to themselves.  If one little detail is different from your situation to theirs, it could change which CONSEQUENCES could happen.

You are worth it to make sure you do these 4 things above.  I'm happy to walk you thru these 4 things if you like.  Talking with me is always confidential.  I have a few different service providers that I can refer you to for help.

 If you are thinking of buying or selling a house in Tracy, Ripon, Manteca, Mountain House, Stockton, Modesto, Lathrop or Salida, call me at 209-321-6122 or email christina@christinaoneal.com

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Jon Quist, ABR, CRS, ePRO, GRI

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Comment balloon 7 commentsJon Quist • January 29 2011 12:23AM

Comments

Thanks for the really nice tips. I have recently been dealing with quite a few short sales and forecloses.

Posted by Jeffrey DiMuria 321.223.6253 Waves Realty, Florida Space Coast Homes (Waves Realty) about 9 years ago

Good basic advice that should be followed by those contemplating a short sale.

Posted by Sarasota & Manatee Counties FL, QuickFreeMLS.com - Listings In Paradise (SaraMana Properties - QuickFreeMLS.com) about 9 years ago

Jon... Thank you for the re-blog. Very nice. I appreciate it :)

Christina Oneal

Posted by Christina ONeal, Realtor - Ripon California (At Home Real Estate Group) about 9 years ago

Jon good post and a choice re-blog.  You know how much advice from friends I see.  it's OK if they're in the business, but otherwise....forget it!   BTW....thanks for stopping by.  I love Eva Cassidy and bought most of her stuff b/4 she died.  My favorite, "Kathy's Song," the cover of Simon & Garfunkle's version!

Posted by Larry Bettag, Vice-President of National Production (Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001) about 9 years ago

Jon, great post to re-blog.  Short Sales are not a one size fits all and like anything...talk to people who know...not people you know...

Posted by Nick T Pappas, Madison & Huntsville Alabama Real Estate Resource (Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Huntsville AL) about 9 years ago

Eva's in my car right now. Just came out with a CD of previously unreleased songs of just Eva and her guitar. Really good.

Sadly I did know know about her until shortly after her passing, but I have all her recordings now. Better late than never.

Posted by Jon Quist, Tucson's BUYERS ONLY Realtor since 1996 (REALTY EXECUTIVES ARIZONA TERRITORY) about 9 years ago

Good Morning Jon, excellent post to put up again, home owners in trouble need honest advice.

Posted by Dan Edward Phillips, Realtor and Broker/Owner (Dan Edward Phillips) about 9 years ago

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