Short Sale Help for Sellers!

Redding Luxury Homes

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Redding Real Estate Luxury Homes

Visit my main real estate website that provides you with the ability to Search the MLS and to set up an account so that you can save searches and select favorite properties. I also have many saved searches for you to take advantage of. There are saved City Searches and Community Searches. We also save Foreclosure Listings and Short Sale Listings.

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Short Sale Redding CA – 2011 Wilder Redding CA!

Jeanean Gendron, Realtor, DRE#01299346 — Wed, 12 May 2010 14:23:44 +0000

Short Sale Redding CA – 2011 Wilder – Redding CA – Short Sale Opportunity- Westwood Manor–nice community. Nice home with huge Family Room and good floor plan. Cozy fireplace in Living Room and free standing stove in Family Room. Remodeled kitchen.

Cute remodeled home in Westwood Manor.

Lots of room in this home with the Living Room and a large Family Room.

Kitchen is off the Family Room for integrated living.

Large Family Room offers room for toys and a free standing wood stove.

Short Sale Reding CA- 2011 Wilder – Redding CA – Short Sale Opportunity- Westwood Manor–An inground Gunite pool with Palm trees adds the finishing touches to this sweet home.

Priced at $165,000 – Call to Confirm Price.

Redding CA – Short Sale Success and Helping Sellers Facing Hardship–I have taken extensive training and continue to do so in order to help Sellers facing hardship. We have new Government Programs that are encouraging. Call today to learn more about your options. I hope we are seeing a trend with the banks to do loan modifications and short sales over foreclosures.

I am Jeanean Gendron your Redding and Shasta County Specialist. You can reach me at 530 276-7417.

I am HAFA Certified!

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Short Sale Redding CA – 6311 Center Drive Redding CA!

Jeanean Gendron, Realtor, DRE#01299346 — Wed, 12 May 2010 14:17:56 +0000

Short Sale Redding CA – 6311 Center Drive – Redding CA – Remodeled Bungalow–Cute remodeled Bungalow. Four Bedrooms and 2 baths with upscale amenities. Stainless steel appliances, tile and marble throughout. Lots of deck to enjoy the out-of-doors. White Picket fence. Master Bedroom with gorgeous Master bath. French doors throughout. Bamboo flooring.

Cute Bungalow with a white Picket fence.

Remodeled throughout.

Sweet kitchen with stainless steel appliances.

Lots of deck for entertaining or just relaxing.

Short Sale Redding CA – 6311 Center Drive – Redding CA – Remodeled Bungalow–Back yard area and room for a pool. This cute remodeled home is waiting for new owners.

Priced at $187,900. Call to Confirm Price. Short Sale Prices Change.

I am Jeanean Gendron your Redding and Shasta County Specialist. You can reach me at 530 276-7417.

I am HAFA Certified!

How Much Is My Home Worth ~ Search all Homes in Shasta County ~ Dream Home Finder

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Redding Real Estate Luxury Homes

Redding CA – Short Sales – New HAFA Program May Not Help!

Jeanean Gendron, Realtor, DRE#01299346 — Sun, 09 May 2010 15:32:53 +0000

Redding CA – Short Sales – New HAFA Program May Not Help Homeowners Facing Hardship–I recently became Certified in the National Association of Realtor”s (NAR) course for Short Sales (SFR) Short Sale and Foreclosure Resource and also the California Association of Realtor’s (CAR) HAFA Certification.

Home Affordable Modification Program–came into being in 2009 and has over 100 of the largest Banks participating. It is designed to help Homeowners stay in their home through a process of modifying their loan based on income while experiencing some hardship financial or otherwise. Home Affordable Foreclosure Alternative (HAFA) is an extension of HAMP and is designed to provide the homeowner with an alternative to foreclosure if they cannot qualify for a modification of their loan.

The Guidelines for the HAFA Program are provided here. I provided an overview of the program recently on a post on ActiveRain. R eading the Guidelines and the application of the Guidelines are two different things, however. How the Banks decide to implement this new program is where the “rubber meets the road” so to speak.

The Documents for the HAFA Short Sale are the Short Sale Agreement (SSA), Request Approval Short Sale (RASS) and the Alternative Request Approval Short Sale (ARASS). When you review these documents, you realize that yet again we have a Government Program that will help very few homeowners.

There are two factors that negate the HAFA Program. One, that the Lender determines the Net Basis they will accept. This could be a huge road block. As it was explained in the course, the bank will take a look at the cost of foreclosing and the cost of doing a short sale to determine which would be best for the Lender. Interesting terminology. Somewhere what’s best for the homeowners remains lost. I have grave concerns on how this will play out. The way I currently get all my short sales approved is by astutely knowing market value and pricing the property to move it and get the highest price possible for the seller and the Lender.

Secondly the homeowner must continue to make payments throughout the entire process. Most short sale clients that I deal with do not have the resources even when they still have income to relocate and still make payments. There is an incentive for the homeowner of $3000 for relocation costs, however most people know that if you are in financial trouble to begin with then $3000 for relocation falls short.

Early on when I first heard about HAFA, I predicted that it would be a program more designed for the Lenders than for the homeowner and my prediction at this early stage seems to be accurate.

I’ve recently taken two short sale listings where the homeowners where in the process of doing HAMP loan modifications. Once you qualify, HAMP allows for a 3 month trial payment plan and if you make all those payments on time then your loan becomes finalized at the new terms. One would assume that the Lender has approved the homeowner prior to putting them in a trial program. In both cases these homeowners were dragged into five months of this trial period with a continual request for more documentation and encouragement that they would be approved. At the end of the five month period both loans modifications were denied and a demand placed on the homeowner to repay the reduced amount for all five month with 3 days. When both clients said they could not do so, they were told to do a short sale. In both cases, these clients could have managed to continue their payments, however once they stopped paying the higher amount and accrued this large balance, they were unable to come current.

It always becomes important to try to put things in context. There is growing concern about the Banks and how they operate. We’ve all become aware of the Goldman Sachs Fiasco and how Indymac Bank, the FDIC and One West Bank have managed to swindle any number of homeowners out of their homes while making an extraordinary amount of money at every turn of the SCAM. These things don’t just happen…they are PLANNED! The Goldman Sachs video is a must watch. I don’t believe it stops here and as time moves on, we will know more and more. WA MU and the latest info on their planned mortgage scam is a new example. Another video that is a must watch is Salvador Russo’s and his perspective on the Central Bank. He provides us with what is a reality few know or are ready to accept and encourages us to blog about experiences and spread the word of what is happening in our local markets and areas. I blog to help the Consumer and my market know what has occurred and what options are available to them for their welfare and well being.

I have clients who were in a Indymac loan and tried unsuccessfully to modify their loan for 18 months while being coerced constantly to make payments and that their loan modification would be approved. They are now letting their home go to foreclosure and relocating to the East Coast. Finding the video on the Indymac and Goldman Sachs debacle helped them finally see what they were up against and that they would never prevail. It can only be likened to a Con Game or Scam of major proportions.

On a lighter note:

Two recent events are interesting in my dealings with short sales. After my determination that I would most likely not be using the HAFA Program to help my clients, I received a call from a prospective short sale client who does want to use HAFA. He wants to continue his payments until the sale is completed and then relocate to his new job. He is already pre-approved with Wells Fargo for an FHA loan to purchase in his new area. Well Fargo advised him to do the HAFA Short Sale and that there would be a much less hit to his credit allowing him to purchase immediately in the new location. So….application is always everything and only two days after completing the HAFA Certification, I receive a call from someone who wants to use HAFA for his short sale.

My second example is on a traditional short sale with Bank of America where they have countered us with asking the Seller to come to the table with $5,000 and sign a promissory note for $15,000. She is a single woman and cannot afford to do this. It will take all her resources to find a new rental and move. She will barely be able to scrape by even when she gets out from under the mortgage (stated income on two people’s income rather than just her income). Well, after much stressing on my part about this and after taking the HAFA Certification, I decided to turn in an ARASS form (HAFA’s Alternative Request Approval Short Sale). This is how you apply for a HAFA approval if you already have the Buyer and probably the way I will choose to use HAFA. If they will accept the HAFA ARASS and herein lies the question of all questions (ARE THE BANKS GOING TO HONOR THIS PROGRAM AND THE INTENTION THEREIN) it could help us out of a no win situation. The results could be that she get $3000 for relocation and a clean approval (without that promissory note and the $5000 at closing). We don’t yet know the outcome but I’ve already found two opportunities to try new measures to protect my clients with HAFA.

The real importance of all this is knowing and understanding the ramifications of these programs so that we can help our clients. I personally don’t think HAFA will prove any better than the HAMP Program. I am seeing that HAMP Program being used to hurt the Consumer. I still have hope for HAFA and only time will tell.

Redding CA – Short Sales – New HAFA Program May Not Help Homeowners Facing Hardship–I have taken extensive training and continue to do so in order to help Sellers facing hardship. We have new Government Programs that you need to know about. Call today to learn more about your options. I hope with Government Oversight we may see a changing trend with the banks actually doing loan modifications and short sales over foreclosures.

I am Jeanean Gendron your Redding and Shasta County Specialist.

You can reach me at 530 276-7417. I answer my phone.

Jeanean’s Listings

How Much Is My Home Worth ~ Search all Homes in Shasta County ~ Dream Home Finder

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Redding CA – Short Sale – Behind in Mortgage Payments?

Jeanean Gendron, Realtor, DRE#01299346 — Sun, 25 Apr 2010 21:48:09 +0000

Redding CA – Short Sale – Behind in Mortgage Payments–If you are behind in payments on your mortgage and you cannot refinance because your home is worth less than the amount of money you owe the lender, you may be able to do a “workout” with the lender. This means that the lender may be receptive to looking at your financial situation and if you qualify, they may do one of several workout options.

If your lender is participating the HAMP (Home Affordable Modification Program) you may qualify for a loan modification if you have the financial model to support the modification. You lender will send you a work packet and ask for income verification. If you do not qualify for HAMP then your will qualify for HAFA. If the lender is not willing to consider a loan modification and advise that you do a short sale, then we can help.

If you would like to learn more about your options, please visit our short sale and foreclosure knowledge center. We have built this website to help our clients learn about their options. If you cannot qualify for the “workout” options with your lender, you may want to consider a “Short Sale”.

A Short Sale is when we get your home sold and present the lender with a strong and solid offer from a qualified buyer for less than you owe on the mortgage. The Lender must approve this short payoff. It is in the lender’s interest to move forward and accept this offer, rather than foreclose on your home. It will costs the lender much more to foreclose and then sell you home in today’s market. In order to do a Short Sale, we work it out so that in most cases, YOU DON”T PAY THE COMMISSION OR CLOSING COSTS. YOU DO NOT HAVE TO HAVE GOOD CREDIT FOR US TO DO A SHORT SALE.

By accepting this Short Sale, the lender is better off and in most cases you are better off from a credit basis. You also are in most cases able to avoid deficiency judgments in the state of California. Call us today and we can advise you on how to contact your lender about HAMP and see if you can qualify for a loan modification. We are here to help. Time is very critical and important in this situation.

If you have not missed any payments and you simply want to learn more about your options, then we can help you through our websites and links to information on foreclosure alternatives. You may want to seek legal and financial advice. These are critical decisions and you need to understand and consider what your options are.

Redding CA – Short Sale – Behind in Mortgage Payments–Visit our website to learn more and call us so that we can help you. We feel it is important to be helping people in this market and in this mortgage crisis. We have to try everything to save your home. Educate yourself by researching on the internet. Go to www.Google.com and search on alternatives to foreclosure.

Visit the California Association of Realtor’s website. Time is very crucial to you at this time.

I am Jeanean Gendron your Redding and Shasta County Specialist. You can reach me at 530 276-7417.

How Much Is My Home Worth ~ Search all Homes in Shasta County ~ Dream Home Finder

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Redding CA – Short Sale Opportunity – 2022 Merle Drive Redding CA 96001

Jeanean Gendron, Realtor, DRE#01299346 — Sun, 25 Apr 2010 20:10:25 +0000

Redding CA – Short Sale Opportunity – 2022 Merle Drive, Redding CA 96001–Cute and Updated home. Interior charm. Good floor plan with cozy fireplace and covered patio. It’s cute!

Located in Westwood Manor.

Bright and Shinning KItchen.

Charming fireplace and just the right touches for comfort.

Master Bedroom with lots of light!

I am Jeanean Gendron your Redding and Shasta County Specialist. You can reach me at 530 276-7417.

How Much Is My Home Worth ~ Search all Homes in Shasta County ~ Dream Home Finder

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Redding CA – Short Sale Opportunity – 2060 Wilder Drive, Redding CA 96001

Jeanean Gendron, Realtor, DRE#01299346 — Sun, 25 Apr 2010 20:05:30 +0000

Redding CA – Short Sale Opportunity – 2060 Wilder Drive, Redding CA, 96001 – This four bedroom and 3 full bath home has hardwood floors and two master suites. Located on the South West Part of Redding in Westwood Manor this home waits for new owners.

Westwood Manor is a nice community.

Hardwood flooring adds warmth.

Family room makes for lots of room.

Kitchen and open floor plan make fit any lifestyle.

Redding CA – Short Sale Opportunity – 2060 Wilder Drive, Redding CA, 96001--This open floor plan as viewed from the Family room is great entertaining or just living a cozy life!

I am Jeanean Gendron your Redding and Shasta County Specialist. You can reach me at 530 276-7417.

How Much Is My Home Worth ~ Search all Homes in Shasta County ~ Dream Home Finder

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Redding CA – Short Sales – 3593 Bearwood Place Anderson CA

Jeanean Gendron, Realtor, DRE#01299346 — Sun, 25 Apr 2010 19:52:49 +0000

Redding CA – Short Sales – 3593 Bearwood Place in Ravenwood, Anderson CA

Redding CA – Short Sale Success and Helping Sellers Facing Hardship–Nice property in Ravenwood Subdivision in Anderson. Covered patio with Vinyl fencing. Very sweet property. 3 Bedrooms and 2 Bath with 2 Car Garage make this the perfect First Time Home Buyer opportunity.

Ravenwood Subdivision is a nice community located in Anderson, CA.

The wrap-around kitchen is efficient and provides lots of counter space.

The Dining Area is convenient and sweet.

The Living Room offers lots of room for comfort and relaxing.

Redding CA – Short Sales – 3593 Bearwood Place in Ravenwood, Anderson CA–The covered patio provides a wonderful place to relax and enjoy the the out of doors!

I am Jeanean Gendron your Redding and Shasta County Specialist. You can reach me at 530 276-7417.

How Much Is My Home Worth ~ Search all Homes in Shasta County ~ Dream Home Finder

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Shasta County: A Guide to Shasta County ~ Shasta County Parks, Trails and Open Space Plan Shasta County Guide to Recreation ~ California State Parks – Shasta Cascade ~ City of Redding Information Center ~ Turtle Bay Museum ~ Redding Convention Center ~ Cascade Theatre Schreder Planetarium ~ Turtle Bay Exploration Park ~ Shasta State Historica Park ~ Sacramento River Trail/Caldwell Park ~ Sacramento River Trail Map Redding Community Services ~ Shasta County Library ~ Shasta Historical Society

Redding Real Estate – Short Sale Opportunity – 6664 Riverside Drive – Near The Sacramento River!

Jeanean Gendron, Realtor, DRE#01299346 — Mon, 12 Oct 2009 12:38:43 +0000

Redding Real Estate – Short Sale Opportunity – 6664 Riverside Drive – Near The Sacramento River–Located in a wonderful neighborhood near the Sacramento River, this charming home has double pane windows, mature landscaping and a good floor plan. Located across the street from the Sacramento River and beautiful homes this sweet homes offers RV or boat cover, a two car garage, three bedroom and two baths. There is no master bedroom, however the charm of the home compensates for this.

Redding Real Estate – Short Sale Opportunity – 6664 Riverside Drive – Near The Sacramento River–Excellent starter home or investment property. Seller is a licensed real estate agent in the State of California. This is a short sale. Charming home with mature landscaping and just across the street from the Sacramento River. Wonderful older neighborhood with beautiful mature Oak Trees. Wonderful investment opportunity or starter home for first time home buyers. You have the charm of an older neighborhood and location near the Sacramento River. This is a short sale.

I am Jeanean Gendron, your Redding and Shasta County Specialist. You can reach me at 530 276-7417. I answer my phone.

Here are the city of Redding and Shasta County demographics and links to the many things available to the people who live The Shasta Lifestyle here in Redding and Shasta County. Enjoy!

Shasta County, Land area is 3,785.2 square miles, Density 47.4 people per square mile, versus California Density at 217.2 people per square mile. Population (2006 estimate): 179,951. House Hold Income: Median $37,696, Persons below poverty is 13.4% and Home ownership rate is 66.1%. Education: High School graduates: 83.3% of adults 25 and up. Bachelor’s degree is 16.6% of adults 25+

Redding, population is 90,033 (in 2000), incorporated in 1887. Average temperature in January is 55 and average July temperature is 98. Information Links for Recreation and County and City Resources:

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Jeanean Gendron ~ I love Redding and Shasta County, California

530 276-7417

Redding Real Estate ~ Short Sales ~ Getting Bank Approval!

Jeanean Gendron, Realtor, DRE#01299346 — Tue, 18 Aug 2009 16:27:03 +0000

Redding Real Estate ~ Short Sales ~ Getting Bank Approval!

Redding Real Estate ~ Short Sales ~ Getting Bank Approval–As a short sale agent who has 100% approval rating, what is it that I do differently. First of all I understand and know my current market value and the banks financial model that will get the offer accepted.

Typically, the Bank will accept 80% of market value. 10% discount in the purchase price brings the buyer and the other 10% is made up of closing costs and commissions paid by the bank. There is some play in this financial model based on condition and location of the property.

As a short sale agent, I feel both a responsibility to the seller and to the bank to get the highest price offer possible. It means doing my research and knowing market value and the current market conditions to establish the financial model the bank will accept. Negotiation is a key element of how I have managed to maintain a 100% approval rating for the short sales I have done. Negotiation with the bank is crucial however it is the negotiation with other agents and their clients that seems to be the critical piece. I cannot tell you how many times in a day I have a conversation with another agent and explain the above model.

There is still a perception that you can low-ball short sales and foreclosures in this market. If the agent has done their work, this just is not true. I believe it is one of the single most mis-understood aspects of this current market. Getting the bank to approve the short sale is based on the above model. They care about the bottom line and you must be able to compelling prove your case for the short sale including the market value and the purchase contract you have accepted. Yes….in California the Seller still owns the home and we accept the best offer and open escrow (so that once accepted we can close quickly). In general, we are looking for all cash or conventional financing that CAN close quickly.

While I coach other agents in what the nature is of our getting an approval from the bank, I still get low ball offers and agents that don’t know how to be as effective with the bank as I have learned to be. I aways request that agents call before writing, however sometimes they don’t. I received a conventional offer on one of my short sales the other day (agent did not call) and it was rather a low ball offer. We were at a higher price at the time and I explained that we were about 5% below market value (I always try to get market value and sometimes I do) and while their offer had much to offer, the lowest we would be able to go on this particular house was 10% below market value. The home is in a great location and good condition. She said we will just keep the offer where it is. The bank can always counter us.

Well needless to say her offer most likely will not be accepted and the bank will never see the offer. She obviously does not understand the nature of short sales and how to get them approved. Who knows maybe she will reconsider. I hope so. In the meantime the house is being shown 3 or 4 times a day. Offers will be coming.

Redding CA ~ The Short Sale Finesse ~ Helping Your Seller , The Bank and The Other Agent!

I am Jeanean Gendron, your Redding and Shasta County Specialist. Your can reach me at 530 276-7417. I answer the phone. Visit my websites and blogsites to learn more about Redding and Shasta County Real Estate.

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New Homes Shasta County Featuring Ochoa & Shehan Homes