Real Estate begins with property, but it doesn’t end there. Whether your with purchases, sales, or everything regarding property, you can learn something from what these companies see as their mission in Real Estate, which is to always Provide World Class service.
California State License # 01992151
In order to permit a homeowner to sell the home for actual market value, a lender will accept a payoff that is far less than the principal balance of the mortgage. This option applies specifically to homeowners owing more than the property is worth. To be considered for a short sale, the homeowner must draft a letter of hardship explaining why they cannot make the payments and why they will not be likely to resume in the near future. Lenders then consider the letter along with the homeowner’s financial documentation before making a final decision to either accept or reject any offers to purchase after the home is listed for sale.
For years, loss mitigation has been used by various mortgage companies to help people remain in their homes. But, ever since the latest recession, the housing crisis of 2008, as well as the ever-rising rate of foreclosures in the United States, state government agencies are ramping up on mortgage aid programs encouraging lenders and servicers to use loss mitigation options that would allow borrowers to better afford their mortgages.
With this process, a homeowner’s mortgage is modified, with both the lender and homeowner being bound to new terms. The most common modifications include the lowering of interest rates and the extension of the term for up to forty years. Reduction in the principal balance, however, is often rare. Basically, the terms of the original loan agreement are changed in a way that would make it much easier for the borrower to repay the owed amounts. Borrowers with conventional and other mortgages not insured by the FHA may have similar loan modification options available through their own lenders.
Our philosophy is simple: Provide World Class Service
How? Our Clients come first. We pledge to be in constant communication with our clients, keeping them fully informed throughout the entire buying, selling, or negotiating process. We believe that if you’re not left with an amazing experience, we haven’t done our job. We don’t measure success through achievements or awards, but through the satisfaction of our clients.