Time Bombs – San Jose Short Sales

Time Bombs – San Jose Short Sales

It’s what we don’t know that can cause San Jose Short Sales to catapult straight into foreclose. The real challenge is to discover what we don’t know before the foreclosure time bomb explodes.

San Jose Short Sales – Time Bombs in Escrow

We recently had the unfortunate experience of working with an untrained escrow officer at Old Republic Title Company. She became aware of an IRS tax lien on July 29, 2010 and failed to take action to ensure the lien was released so we could close on October 21, 2010.  The escrow officer also did not send the updated preliminary title report to the agents. Therefore, the time bomb ticking in escrow remained unknown to the agents, the buyers and the seller.

We had short sale lender approvals and were ready to close on October 21, 2010.  Buyers and Seller had signed off in escrow. Buyers’ funds were wired to escrow in the morning on October 18, 2010.

  • October 18, 2010 @ 3:11pm, Escrow Officer Rosa Avila sends an urgent email with the subject line: Delay in close of escrow.

Email message: IRS informed me today that they will not provide a release or any kind of written confirmation of release for their liens until approx. 11/30/10. I am currently contacting the short sale lenders to request an extension.

Ka-Boom!!!!

San Jose Real Estate & San Jose short sale agents must understand that importance of choosing a title and escrow company. Failing to choose a title company that is trained in short sales may result in the reason San Jose Short Sales do not close; their buyers and sellers are damaged; and after working 4-6 months they do not receive their hard-earned paycheck.

Time Bombs- San Jose Short Sales by San Jose Real Estate Agent – Kathleen Daniels

San Jose Short Sales – another success story!

Ever wonder why San Jose short sales “don’t close”?

We just closed another San Jose Short Sale! We received Short Sale Lender Approval on 5-3-2010. We closed in 19 calendar days. We could have closed sooner IF only the Listing Agent had timely performed. Because we were waiting for the listing agent to perform we faced unexpected delays in the San Jose short sale process. Delays can not only be costly, delays can cause a San Jose short sale transaction to blow up.

It’s not always the short sale negotiator as many inexperienced San Jose short sale listing agents claim. That certainly was not the case in this transaction. Despite the delays caused by the listing agent and the errors created by the Old Republic Title Escrow Officer … we did close on the San Jose short sale.

Congratulations to my Super Star client who understands the San Jose short sale process and played like a Champion.

A special thanks to my friend Julie for the referral.

I truly enjoy working with San Jose short sales and helping San Jose homeowners avoid foreclosure.

Certified San Jose Short Sale Specialist

Copyright © 2010, All Rights Reserved by Kathleen Daniels, San Jose Short Sale Specialist
*San Jose Short Sales – another success story!*

Evergreen Valley Home for Sale


Evergreen Valley Home for Sale

Overview
Maps
Photos
Description
Neighborhood
Market Stats
$419,000
Single Family Home
For Sale
Main Features
3 Bedrooms
2 Bathrooms
Interior: 1789 sqft
Lot: 6,098 sqft
Location
3484 Woodside Lane
San Jose, CA 95121
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Kathleen Daniels, CDPEKathleen Daniels, San Jose Short Sale Specialist

Intero Real Estate
(408) 972-1822
Kathleen@ExclusiveSanJoseHomes.com
http://www.ExclusiveSanJoseHomes.com

Listed by: Intero Real Estate – Kathleen Daniels

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San Jose Condo for Sale


University Gardens
Overview
Maps
Photos
Description
Neighborhood
Market Stats
$280,000
Condominium
For Sale
Main Features
2 Bedrooms
2 Bathrooms
Interior: 1102 sqft
Lot: 1,307 sqft
Location
951 S. 12th Street
#303
San Jose, CA 95112

Kathleen Daniels, CDPEKathleen Daniels, San Jose Short Sale Specialist

Listed by: Intero Real Estate – Kathleen Daniels

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Abandoned homes in your San Jose Ca Neighborhood

If you have abandoned homes in your San Jose neighborhood then you may want to take action!

San Jose Municipal Code 17.38 specifically requires property owners, and this includes banks/mortgage lenders of foreclosed homes, to maintain them in a manner that restricts unauthorized entry. In addition, property owners are also required to maintain the exterior of the structure and the yard areas to ensure that the property does not blight neighboring properties or the neighborhood. Property owners are required to paint over graffiti, maintain the landscaping and remove refuse/trash from the property. Failing to comply will result in the issuance of administrative citations that carry escalating fines in the amount of $250.00-$1,000.00 per violation.

Vacant homes that are not maintained have been declared to be a Public Nuisance. San Jose Code Enforcement recognizes that an abandoned home that is not secured is an attractive nuisance to transients, gang members and, in some cases, curious children.

If you observe a vacant home that is unsecured, please do not hesitate to contact the City of San Jose Code Enforcement Division at 277-4528, and a Code Enforcement Inspector will conduct an inspection within 24 hours. Code Enforcement will contact the property owner and order the home secured and, in some cases, may elect to immediately abate the nuisance by boarding points of entry.

This is a City wide concern. Contact the Code Enforcement Division if you observe a “neglected” vacant home.

Intero San Jose Ca

Copyright © 2010, All Rights Reserved by Kathleen Daniels, San Jose Short Sale Specialist *Abandoned homes in your San Jose Ca Neighborhood*

First Steps To Avoid Foreclosure

In today’s market, 1 in 7 homeowners is having trouble paying the mortgage. More than 70% of these homeowners proceed without seeking assistance or getting the facts. Many do not even realize that foreclosure is a process, and that there is time to make informed decisions that may result in a better outcome.

You are not alone. Millions of homeowners nationwide are having trouble paying their mortgage. To assist you, I’ve prepared a free report outlining the first steps a homeowner should take when facing a foreclosure.

If you live in San Jose Ca or anywhere in Silicon Valley, I am here to help.

It does not matter where in this great nation you live I will find someone in your area to help.

Helping someone avoid foreclosure is a priceless gift.

Receive a Free report at San Jose Short Sale Specialist

Intero San Jose Ca

Copyright © 2010, All Rights Reserved by Kathleen Daniels, CDPE *First Steps To Avoid Foreclosure*

California Governor Schwarzenegger takes Action for Californian’s facing Foreclosure!

An emergency measure taken this week, Senate Bill 94 is effective immediately and will remain in effect through January 1, 2013. The action taken by California Governor Arnold Schwarzenegger was designed to prevent distressed homeowners from being taken by companies charging upfront fees for loan modifications and then abandoning them.

Senate Bill 94 prohibits foreclosure consultants, which includes attorneys who specialize in loan modifications and loan modification companies, from taking any compensation or fees before completing the service.

This new law may likely cause many law firms and individual legal practitioners previously engaged in providing loan modifications services to close their doors. The same may be true for loan modification companies which have historically provided services only with payment of upfront fees regardless of whether the loan modification was approved or denied by the servicer.

Only time will tell how many individuals and companies will remain committed to helping distressed homeowners facing foreclosure now that upfront payment for providing such services are prohibited.

Many truly dedicated real estate professionals provide loan modifications services at no cost to the homeowners with the understanding that if the loan modification is not approved, the homeowner will list the property with the agent and attempt to complete a short sale.

Senate Bill 94 is a big win for California homeowners facing foreclosure. It is now against the law to charge before completing a loan modification service.

Kathleen Daniels – Certified Short Sale Specialist

Intero San Jose Ca

Intero San Jose Ca

Number One in Silicon Valley

Copyright © 2009, All Rights Reserved by Kathleen Daniels *Schwarzenegger takes Action for Californian’s Facing Foreclosure*

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