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mortgage short sale

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Aug 03rd 2011

My Citibank/Chase Success Story - Let Me Also Help You With Your Short Sale

Posted By: Dana Ehrlich In:   Short Sales
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Citibank is one of the large national banks, and many of those residing in the Westside Los Angeles area have turned to for financing of their homes. I just recently finished a Citibank short sale for a client in Santa Monica. And while the entire transaction took almost a year, once we had the right buyer in place, we were able to close in less than three months. It was absolutely amazing; by and large, the whole transaction went very smoothly. I won’t bore you with the whole story, but once we put the property on the market at the right price, and the sellers did everything they could to get the best price by keeping the house in great shape for showing to potential buyers and we had ...


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Jul 27th 2011

Some Valuable Information About Loan Modifications As A Short Sale Alternative

Posted By: Dana Ehrlich In:   Short Sales
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Today, let’s discuss loan modifications. If you are struggling to pay your mortgage or need to reduce your debt, I’m sure one of the options you are taking into account is trying to get your existing mortgage loan modified. Of course, there are good programs out here in Santa Monica for modifying your loan but you have to be careful; there are some tricks that you should watch out for.

Obviously your lender will not be thrilled about getting your loan restructured if you are already behind on the balance you owe; they would think that you’d still be unable to keep up with the modified loan. On the other hand, the bank would still want to get back the money they thought they would be ge...


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Sep 11th 2010

Short Sale Update: The Banks Are Waking Up to Short Sales!

Posted By: Dana Ehrlich In:   Short Sales
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This just in regarding the trend toward short sales! This is great news for so many homeowners in trouble! The new government mandates are starting to work and the banks are working harder to make short sales happen.

Read the entire article about the trend toward more short sales here.


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Apr 18th 2010

Big News For Borrowers With A Short Sale In Their Past

Posted By: Dana Ehrlich In:   Short Sales
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Fannie MaeOn April 14th, there was a big announcement by Fannie Mae in an effort to support overall market stability and to certainly reinforce the importance of borrowers to work with their lenders when they have difficulty repaying their mortgage. Fannie Mae has updated several policies that pertain specifically to the future eligibility of borrowers to obtain a new mortgage loan after a short sale. Fannie Mae has also updated the requirements for determining that borrowers have re-established their credit after a significant derogatory credit event. You can read about how these changes affect you if you are pursuing a short sale by clicking here.


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Apr 17th 2010

More Ammunition for More Short Sales

Posted By: Dana Ehrlich In:   Short Sales
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"Home Seizures By Bank Set Records" was the title of the article published on MSN just the other day. It's really worth the read if you want to fully understand what's happening in the real estate world. This morning, I had my head in the market stats for the 10 primary areas of Los Angeles that I serve: Santa Monica, Venice, Marina de Rey, West Los Angeles, Brentwood, Westwood/Century City, Cheviot Hills, Culver City, Mar Vista and discovered that the number of foreclosures and short sales on the market has risen almost 15% in March over February.

Foreclousre is bad business for the banks. It was also evident from looking at the recent Notice of Default filings for the Westside of Los A...


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