Michael-Edward Cruz California Real Estate Broker 01758933

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Example:   This home is in San Bernardino County the mortgage is 399,000.  With a 7 % interest rate the payment is about$ 2654.55. plus taxes and insurance $3150 per month. Its now worth about 130,000

Your loan [...]]]> For what you pay for (or are not paying) on  small home, you could rent a mini mansion

Example:   This home is in San Bernardino County the mortgage is 399,000.  With a 7 % interest rate the payment is about$ 2654.55. plus taxes and insurance $3150 per month. Its now worth about 130,000

Your loan is $399,000 the home is worth #130,000

They are never going to modify the loan. Even though they make you think they will.

So instead, why not short sale your home and then for around same price you can rent this:

For the same price your could be living here

Obviously if your not paying your mortgage their is a good reason. The point I am trying to make is you have to be smart and know that you can recover from situations like this and sometimes it does not make sense to get lured into ideas that will not work. I have met many homeowners who have been told they might qualify for a modification. Only to find out they were just acting like they wanted to help.

When you ready to get back to happiness, call us and we will help you short sale your property.

Michael-Edward Cruz
01758933
760-689-BANK

Upgrading to an energy-efficient heating and cooling system can save hundreds on your utility bills and earn you a tax credit [...]]]>

• Tax Credits for Solar Water Heaters

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• Tax Credits for Replacing Your Roof

  Replacing your roof with a qualifying energy-efficient metal or asphalt roof can cut your cooling bill and earn you a $1,500 tax credit. Read

• Tax Credits for Adding or Replacing Insulation

  A federal tax credit makes adding insulation an even cheaper way to improve your home’s energy efficiency and cut your heating and cooling bills. Read

• Tax Credits for Replacing Windows, Doors, and Skylights

  If money seems to be escaping through drafty windows, doors, and skylights, this federal tax credit might make energy-efficient replacements more affordable. Read

by Michael-Edward Cruz – California Real Estate Broker 951-572-2789

I found a promising article detailing how some lenders are beginning to shift their focus from foreclosure to short sales. Unfortunately I could not link to it on my blog due to copyright laws.

Some Lenders are now considering short sales as a real solution. AFTER the mass [...]]]>

by Michael-Edward Cruz – California Real Estate Broker 951-572-2789

I found a promising article detailing how some lenders are beginning to shift their focus from foreclosure to short sales. Unfortunately I could not link to it on my blog due to copyright laws.

Some Lenders are now considering short sales as a real solution. AFTER the mass foreclosures in 2007 – 2008, AFTER the disaster in modifications in 2009, they might finally be listening to us.

I can’t really complain though.  Before I worked for this team lead by Troy Huerta, 2 out 3 of my deals foreclosed!  I was a typical agent throwing darts in the dark and having the closing figures to show for it.  My success rate was less than 33%.  Since teaming up with Troy, my success rate is an admirable 100%, so far.  This year alone our team has already closed 20 transactions!!!

A big part of my difficulty stemmed from my lack of planning to deal with lenders rather than the lenders not actually listening.  Lenders will always find ways to make more and more money no matter what.  Otherwise, how will their CEO’s be able to remodel their offices for less than $2 million?  When dealing with our pre-foreclosure transactions, we focus our job on showing them that a short sale is better than a foreclosure.  Most of the time a short sale is better, unfortunately it is not always easy to get the lender to understand. That is why I have teamed up with Troy Huerta from the Real Estate Insight Team at Keller Williams.

Troy Huerta has been featured by Smart Money magazine (a Wall Street Journal

publication) as a Power Broker. The impressive part of Mr. Huerta’s success is his fundamental understanding of the short sale process and his ability to turn nearly every transaction into a win-win-win situation for lenders, sellers, agents (and buyers).  Armed with a strong lending background, Troy foresaw the market turn and did everything he could (including purchasing a local and well-established real estate office) to position himself one step ahead of the rest.  The first year (June 2007 – June 2008) he had successfully closed 50+ short sales at a time when offices were folding like houses of cards and agents were being driven from their once thriving (and easy paced) careers.  His understanding of how lenders work has made him the “go to guy” on short sale transactions. He has held DRE credit courses on short sales and currently designates certificate courses for agents looking to break into this market. His success has been truly amazing. He has a great team that I am lucky to be a part of.

After my first experience as an REO agent, I knew that this was not the answer for me in this market.  The whole experience was not worth the money I made when the sale was finalized. I went into this business to help people realize their dreams of homeownership, not contribute to the nightmare of foreclosure.

I am happy with my choice to be persistent and find a way to become successful with the short sales. Most agents ran from this (sooner or later). Most of the agents I have talked to have said “It’s too much work”, ” I hate dealing with lenders” and my favorite, “they take forever to close”. I agree that they should not work on short sales.  You have to love it and “get it” like we do.  A comprehensive list of negotiators you’ve closed with in the past doesn’t hurt either.

While our primary focus is on listings and homeowner assistance, we offer professional negotiation services to agents who can’t or don’t want to handle the negotiation portion of their transactions.  Our system of short sale closings enable us to continue our success as things get “easier”.

WITH LENDERS WORKING WITH US + OUR SUCCESS WHEN THEY WERE NOT = THE ABILITY TO HELP AS MANY PEOPLE AS POSSIBLE IN 2010

Are you late on your mortgage?  Do you have an NOD and are in danger of foreclosure?  Do you know someone who is struggling to make ends meet?  Is the loan modification game getting you tired and at greater risk of foreclosure?  CALL THE NUMBERS BELOW, LEAVE A MESSAGE WITH YOUR SITUATION AND A SPECIALIST WILL CALL YOU TO DISCUSS YOUR OPTIONS

North San Diego County – 760-420-5498 – http://lenderhelpinc.com

South Orange County – 949-630-9743 – http://shortsalemc.com

South Riverside County – 951-BANK-GIRL – http://livinginharveston.com

Their is no way to guarantee anyone that a modification will [...]]]> I have personally helped many people modify their home loan. But with so many predators out there the State of California made it illegal to charge for these services. Still when people try and do this on there own it takes a toll on them.

Their is no way to guarantee anyone that a modification will work. We simply showed people our results. Ironically many people we helped eventually realized that modifications didn’t really help them in the long run.  Many people later decided to short sale. I have two like this right now. Another thing they don’t tell you is that you will miss out on many incentives and tax breaks to short sale now.

As well you can in some cases get a home loan a day after you short sale your property.  So to me modifications suck !!! still here is an interesting article I found on what is accurately headlined as

MORTGAGE MODIFICATION HELL

If you or someone you know are having difficulty paying for you home call us

Troy Huerta (Short Sale Team Leader for California)

Michael-Edward (Short Sale Specialist)

951-572-2789 South Riverside County – Temecula Redhawk – Home Office
949-630-9743 South Orange County Office
760-420-5498 North San Diego County – Troy Huerta – Team Leader

LINK

If or someone you know is facing foreclosure and you live in Temecula California then give me a call. Our team has helped over 100 people in [...]]]> If you purchased a home in Southern California last year and need information on collecting your tax credit click the link below for information on how to claim it.

LINK

If or someone you know is facing foreclosure and you live in Temecula California then give me a call. Our team has helped over 100 people in 2009 avoid foreclosure by short sale.

Michael-Edward Cruz
Short Sale Expert
951-572-2789
www.shortsalemc.com

If you live in North San Diego call our Team Leader Troy Huerta at 760-420-5498
www.lenderhelpinc.com

Have you heard? The government is trying to motivate lenders to avoid foreclosure.

According to statistics the sister program HAMP has been able to help about 9% of homeowners in trouble. Yes I said 9%, I think the average Realtor has been able to short sale about 20% without the extra help. We [...]]]> by Michael-Edward Cruz, California Real Estate Broker.

Have you heard? The government is trying to motivate lenders to avoid foreclosure.

According to statistics the sister program HAMP has been able to help about 9% of homeowners in trouble. Yes I said 9%, I think the average Realtor has been able to short sale about 20% without the extra help.
We have been able to close about 95% of our short sales because we understand the process. And in my case 95% was never a number I thought was even possible. It took hard work and perseverance but I made it.

I believe short sales have been an issue for two main reasons.

1. The staffing departments in loss mitigation departments exploded and this caused a huge learning curve and lack of adequate systems.

2. The mentality of these departments was that of a collections agent. Not actually mitigating loss but gambling to see how much they could get. I traded stocks for many years and some people said I was gambling, but my level of trading risk was nothing compared to these departments. They hang there risk on another agents appraisal-which many are unqualified to give, they lack any knowledge in real estate. Those talented and qualified loss mitigation agents are buried by thousand of request.

These departments have been filled with loan officers that went broke when the housing bubble bust. They had not been in business long enough to learn the fundamentals of selling homes and negotiating selling terms. They went from making an insane amount of money to broke. Now they are just looking for a steady paycheck.

I lost count of how many times lenders have foreclosed on a home which they would have made more on a short sale. Either because of price, commission, closing cost, basically the normal cost to sell a home, AND THEN sell it one to two months later for 20 to 30% less.

It’s not surprising that some Realtors refuse to touch short sales. Not to mention buyers who don’t want to wait for what seems like forever.

So do I think this HAFA program will work? I sure hope so but I am not going to hold my breath.

To me this will just serve to confuse more people and waste tax payer money. But if it works then great, because both Realtors and Homeowners need the help.

So is it all bad? THE ANSWER IS NO

There are many variables involved. All properties cannot be short sold but we need to go back to basics. Homes are held as collateral for money that is owed. With that you can begin to change the way you think about short sales.

It is all about education and negotiation, the Realtor is key to this part of the process. You need to work with an agent that can educate lenders as to the process, make it easy for them.

Yes make it easy, they have thousands of files, the agent needs to keep it simple. Then they need to negotiate intelligently, don’t sumbit offers with huge discounts, while this might work once in a blue moon. You will just cause the file to get tossed.

And you the seller is the second key. When looking to short sale your home you need to ask yourself a few things.

1- Can I repair my credit after a short sale?
2 – Is my loan a recourse or non-recourse loan?
3 – Do I have a Realtor that understands the short sale negotiation process?
4 – Do I have a valid hardship?
5 – Am I commited to settling these debts?

When you prepare this questions ahead of time, you can ensure a smoother short sale process.

Why waste your time trying to get a loan mod or a short sale that is never going to happen.

Why start with a process you are not committed to.

There is life at the end of this and yes your credit and your stability will return to normal.

We have helped many people reduce there housing expense by over 2/3. Our services are free to you as we are compensated by the lenders and or buyers. And because time is of the essence we encourage you get informed asap!

We look forward to helping the governments efforts to help people in foreclosure. While we are unsure of HAFA’s success, we are still committed to the process.

If you or someone you know is in danger of foreclosure call our short sale experts right away.

Michael-Edward Cruz 951-572-2789
Troy Huerta 760-420-5498

If there is no answer leave a message, if they are not on the phone with a lender they are helping clients.

“At the start of the foreclosure crisis, she says, banks accepted about one in every 10 offerings on short sales. But as the crisis worsened, the number of short sale homes closing in escrow [...]]]> According to some experts 2010 is set as year of recovery, largely in part to lender participation in short sales. According the the article,

“At the start of the foreclosure crisis, she says, banks accepted about one in every 10 offerings on short sales. But as the crisis worsened, the number of short sale homes closing in escrow has improved to one in every five homes.”

“Banks realize they typically are better off to close a short transaction than go through foreclosure,”

Michael-Edward Cruz and Troy Huerta have been working on short sales transactions since day one and they have been able to work with lenders even back when it wasn’t popular for lenders to help. “We have been able to consistently show lenders the benefit to a short sale.”  said Michael-Edward Cruz

If you or someone you know needs a free short sale consultation then please have them call one our experts right away.

Michael-Edward Cruz
US Bureau of Recovery Inc
Short Sale Expert
951-572-2789 – RIVERSIDE OFFICE
949-630-9743 – OC OFFICE
EMAIL ME

Troy Huerta
Lender Help Inc.
Short Sale Expert
760-420-5498 RIVERSIDE AND SAN DIEGO COUNTIES
EMAIL ME