Tag Archives: BankOwned

Real Estate Short Sale Internet Web site Exposes Clients Short Sale Situations and Tweets About Bank-Owned & Fannie Mae REO Listings

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San Francisco, CA (PRWEB) August 24, 2009

The “American Recovery and Reinvestment Plan” (greater known as Obama Stimulus Strategy) has not slowed down the increasing quantity of notices of default (NOD) filed in the San Francisco Bay Location. Distressed property owners are increasingly picking loan modification or short sale instead of facing foreclosure as one way to lessen the effect on their credit score. Short sale is one particular of the many alternatives to foreclosure but the majority of true estate brokers lack the expertise or patience to support home owners. Residence Purchasers Alliance (HBA) has published quite a few true clientele short sale events timeline (privacy info removed) detailing what goes on behind the scenes of a quick sale as observed by HBA agents – lender(s) negotiations, problem resolutions, days to completion, and so on.

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“We are open and frank about the complicated brief sale procedure that our service agents go by way of every day,” mentioned Arton Chau, Common Manager of Property Buyers Alliance. “The stressed homeowner can concentrate on other individual monetary problems and just wanted to keep away from foreclosure with our professional assist. With all the negative press about loan modification scams and brief sales failures, we want to assure home owners that we’re right here to aid them and they can see what they can anticipate from us”.

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HBA has been assisting home owners with alternatives to foreclosure such as loan modifications and brief sales given that the subprime debacle and has a single of the highest achievement rates in the SF Bay Location. HBA is also a single of the handful of Northern California businesses allowed to collect advance charges for loan modification services.

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Because July 15, 2009, HBA has been tweeting everyday on Twitter, San Francisco Bay Location REO listings from bank-owned and Fannie Mae inventory. HBA has amassed a large SF Bay Location listing inventory for San Mateo County, San Francisco County, Santa Clara County, Alameda County, and Sacramento County. Comply with these listings at twitter.com/SF_ShortSale.

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The SF Bay Region Quick Sale web website carries all the detailed short sale case research in addition to complete REO listings from banks and Fannie Mae.

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About Property Purchasers Alliance (HBA): &#13

Know your options to foreclosure ahead of taking drastic actions that could severely damage your credit score. We specialize in short-sale negotiations and are licensed below the California Department of Real Estate (DRE). Our services contain loan modification, forbearance applications, quick sale spend-offs and other arrangements deemed as viable options to assisting property owners get a fresh start, restore credit, and decrease liabilities. By negotiating on the house owners behalf, we aid lessen lender and borrower losses by generating mutual agreements to help borrowers save or sell their properties.

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Speak to: &#13

Arton Chau, Common Manager &#13

Home Buyers Alliance / Milestone Mortgage&#13

650-697-1200

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http://www.sfbayareashortsale.com&#13

http://twitter.com/SF_ShortSale

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Far more Than 100 Bank-Owned Residences in Inland Empire to be Auctioned on July 24 by Bank of America, REDC and New Vista

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Ontario, CA (Vocus) July 2, 2010

Bank of America, actual estate auction specialist REDC and New Vista have announced that they will auction much more than 100 bank-owned residences in the Inland Empire. The auction will be open to homebuyers in search of a home as a main residence, municipalities participating in the U.S. Housing and Urban Development (HUD) Neighborhood Stabilization Plan (NSP), and housing nonprofit organizations.

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The auction will be held on Saturday, July 24, at the Ontario Convention Center. Registration begins at 8:00 a.m. PDT and the auction begins at 9:30 a.m. PDT.

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The July 24 auction is for bidders who intend to occupy the properties as their principal residence, with out competitors from investors. The Bank of America-owned properties to be auctioned have been removed from the industry, inspected and repaired, and are prepared for sale.

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Far more information on the auction, like a list of all properties in the auction, property descriptions and images can be located at REDCs web site http://www.Auction.com/ie. To be considered for buy approval, possible homebuyers are advised to bring the following products to the auction: government-issued photo identification such as a drivers license or passport funds for deposit previous two years W-2s or if self-employed the last two years of total tax returns most recent 30 day paystub showing Year-to-Date income most current two months bank statements on all accounts and a recent utility bill in the purchasers name.

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Since homebuyers have found it hard competing with investors in todays market place, this auction is exclusively for homebuyers, with Bank of America offering quite eye-catching financing options onsite, in addition to a three % commission for agents who bring their homebuyer clientele to the auction.

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There are two auction sessions: The 9:30 a.m. auction session is exclusively for buyers who are pre-authorized for help through the Neighborhood Stabilization Plan, a federally funded system for low- to middle-revenue homebuyers willing to get a vacant house in specifically targeted locations. The second portion, at 1 p.m., is for very first-time homebuyers pre-approved for a mortgage by any lender.

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New Vista will hold open homes on July ten, 17 and 18 so interested buyers can tour the residences prior to the July 24 auction. Possible purchasers can also uncover house descriptions at auction.com/ie.

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New Vista is also scheduling homebuying seminars for interested bidders to much better prepare them for homeownership and will execute house inspections to make certain the properties are in great situation.

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Owner-occupants are the key to revitalizing and strengthening neighborhoods that have been difficult hit by the economy, stated Jim Park, CEO of New Vista. Functioning with Bank of America, REDC and New Vista has developed a one particular day homebuyer occasion that gives very first time and owner occupant purchasers an exclusive opportunity to obtain homes. This distinctive event will aid turn 100 foreclosed properties into residences for several deserving households.

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REDC has conducted comparable auctions earlier this year in Arizona, Nevada and California, auctioning a total of 368 properties to individuals and households with a combined obtain price tag of $ 32.7 million.

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Bank of America has a complete neighborhood stabilization strategy for communities hardest hit by the foreclosure crisis, ranging from business-leading loan modification efforts and targeted residence retention outreach, to becoming the 1st key servicer to generate an REO sales process specifically for HUD NSP recipients.

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Recognizing the Inland Empires unique housing and financial challenges, it is best when we can sell our inventory of true-estate owned properties to families who will live in the homes and contribute to the revitalization of the greater community, mentioned Matt Vernon, national servicing executive, Bank of America.