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avoid foreclosure san jose ca

Freddie Mac Short Sales Increase

According to Freddie Mac quarterly reports, Freddie Mac’s total losses were reported $84.4 Billion Dollars. The losses forced a directive from Freddie Mac’s conservator, the Federal Housing Finance Agency to de-list Freddie Mac’s and Fannie Mae’s common stock from the New York Stock Exchange.

Ed Haldeman, Freddie Mac’s CEO said the number of Freddie Mac short sales increased 600% from 2008 – the result of lenders and loan servicers focusing on work out solutions to help homeowners avoid foreclosure.

Haldeman said Freddie Mac is doing everything it can to prevent more foreclosures, and that short sales are becoming a favored alternative to foreclosure especially in situations where loan modifications failed and foreclosure is imminent.

When the Home Affordable Foreclosure Alternatives (HAFA) program takes hold, the numbers of short sales are expected to increase significantly. The Treasury Department launched the HAFA program in April 2010. HAFA provides cash incentives to servicers for conducting short sales and deeds-in-lieu of foreclosure. HAFA also provides qualifying homeowners with $3,000 cash incentive and more.

“Foreclosure alternatives like short sales and deeds-in-lieu help borrowers to avoid the stigma of foreclosure, shorten the waiting period before they can buy a new home, and may inflict less damage on their credit reports,” Haldeman said.

KD Realty

Certified San Jose Short Sale Specialist
Copyright © 2010, All Rights Reserved by Kathleen Daniels, Certified Short Sale Specialist, Certified HAFA Specialist, RDCPro *Freddie Mac Short Sales Increase*

KD Realty
456 Colony Knoll Dr San JoseCA95123 USA 
 • 408-972-1822

Short Sale – Almaden Valley Townhome Sold

Almaden Valley Townhome – Short Sale Sold $525,000
1108 Trevino Terrace, San Jose, CA 95120

Submitted Short Sale Package to SunTrust on December 19, 2009
Two Loans – 1st with SunTrust; 2nd with Wells Fargo – SunTrust Servicer
Purchase Offer $460,000
SunTrust valuation came in at $580,000
Listing Agent disputed BPO Valuation
Short Sale Approved at $525,000 on June 15, 2010 = 6 months + 4 days
Trustee Sale postponed 3 times during process
Buyers’ loan funded on 6-29-2010
San Jose Almaden Valley Townhome closed 6-30-2010
15 days in escrow – Buyer made the tax credit deadline
Kuddos to Buyers’ Agent and Buyers for sticking with the process
Buyers patience delivered big rewards – $55,000 less than SunTrust valuation
Buyers had their baby days before closing – Precious!
Sellers avoid foreclosure … Priceless!

Avoid Foreclosure – Discover your options before it is too late.
Call today for a free, no obligation consultation – 800-972-18222
or visit San Jose Short Sale Specialist and schedule a consultation.

The search below provides the listings of homes for sale in Almaden 95120 – San Jose CA. All of the Almaden 95120 homes for sale are listed below. If you want to search other areas just change the search fields. It is interactive. You can use it right here and now! No clicking to another site. Have fun!
Don’t hesitate to call Kathleen Daniels if you need help with your search or if you simply have questions – 800-972-1822.

KD Realty

Certified San Jose Short Sale Specialist
Copyright © 2010, All Rights Reserved by Kathleen Daniels, Certified Distressed Property Expert, Certified HAFA Specialist, RDCPro *Short Sale – Almaden Valley Townhome Sold – Another Successful Short Sale*

Fannie Mae and Strategic Defaults

Fannie Mae wants borrowers to act in Good Faith in working out an alternative solution with the servicer. Simply walking away (“Strategic Default”) may subject a borrower to legal action to recoup the outstanding mortgage debt. This means, strategic defaulters may walk away from the property however under Fannie Mae’s new policy, in jurisdictions that allow deficiency judgments, may not simply walk away from the mortgage obligation. Commencing July 2010 Fannie Mae is instructing servicers to monitor delinquent loans and recommend cases that justify the pursuit of deficiency judgments.
Homeowners who can actually afford their mortgage payments and chose to walk away from their home simply because the property is worth less than what is owed are commonly referred to as “Strategic Defaulters.” This practice of walking way without first attempting to work out an alternative solution isn’t viewed well as the phenomenon adds to the number of foreclosures in San Jose Ca and across the nation.

Fannie Mae announced policy changes designed to encourage borrowers to work with their loan servicers in finding alternatives to foreclosure. Borrowers who could make their mortgage payment and who do not act in good faith in completing a workout alternative will not be eligible for a new Fannie Mae backed mortgage loan for seven years from the day of foreclosure.
“Walking away from a mortgage is bad for borrowers and bad for communities, and our approach is meant to deter the disturbing trend toward strategic defaulting,” said Terence Edwards, executive vice president for credit portfolio management.
On the other hand, borrowers facing hardship who do make a good faith effort with their servicer do preserve the option to be considered for a future Fannie Mae loan in a shorter period […]

You lost your home – Really?

How does anyone lose a home? Aren’t they kinda big to lose? Afterall, a house is not like a set of keys … something a homeowner can misplace – right?

While sitting at clients’ dining room table the other day their very upset 5 year old daughter interrupted her parents and said:
“Mommie – I don’t want to lose our home. How can anyone lose a home they are too big to lose?”

This immediately caused me to sit back and realize the impact the possibility of foreclosure has on the children of homeowners who are facing foreclosure. Children may undoubtedly pick up on the fear of what feels like an uncertain financial future for their parents.
A home is a safe haven for most everyone. If your home is causing you to be stressed out and worried because you are facing foreclosure, then you need to know that foreclosure is not the only option. Know that you are not alone. Thousands of San Jose homeowners have happily and successfully decided to cash in their stress and worry over an uncertain financial future.
If you, or someone you know, are facing foreclosure, know that you have options. Get the information you need to make informed decisions for you, your family, and your future.
Call today for a free, no obligation consultation. 800.972.1822

KD Realty

Certified San Jose Short Sale Specialist
Copyright © 2010, All Rights Reserved by Kathleen Daniels, Certified Distressed Property Expert, Certified HAFA Specialist, RDCPro *You lost your home – Really?*

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