• Santa Clarita Short Sale | Lenders Bad Decision

    Posted on September 3rd, 2010, 3:43 pm by Matt & Pete Gregory

    Welcome to ExtremeShortSale.com! Here at the Gregory Real Estate Group we’re preparing for a fun Labor Day Weekend, however we will be spending a good amount of our time meeting with and helping some new clients. We were just reflecting on one Santa Clarita Short Sale from about a year ago that just did not work out, and a foreclosure occured. The homeowner had nothing to lose by trying a Santa Clarita Short Sale and if the homeowner had done nothing, a foreclosure would have occured anyway. Now days, the lenders are much more willing to accept a short sale but sometimes a good amount of negotiating must occur to push the short sale through. This is where you need a Santa Clarita Real Estate agent that has experience with successful Santa Clarita short sales. Take a look at the video and read below to find out more.

    One year ago we had an all cash offer of $285,000 on a Santa Clarita Short Sale listing. The lender stubbornly refused the offer and insisted the listing was valued at $340,000 and would accept nothing less. At that time there was no way to expect a potential buyer to offer so much above market value. What makes it even less desirable is that the specific complex where this home is located accepts cash only. NO LOANS! What was the lender thinking? Well, guess what. The short sale fell through and the lender foreclosed. They are now listing the same home for $299,000. and it’s just sitting there. This lender is still being foolish because they’ll never get the $299,000 all cash! When you consider the cost of foreclosure and everything associated with a foreclosure, the lender is going to lose big! They could have settled this and walked away almost a year ago but so be it! Sometimes, that’s the way the ball bounces! 

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    Remember, watch for those scams out there! Do not give anyone any money in advance for a loan modification. It’s not even legal in California! It’s best to avoid those Forensic Loan Audits or Check for Securities Voilations. These services are very expensive and rarelyyeild any significant results. Remember the old adage. If it sounds too good to be true, it probably is! If you’re not sure, give us a call and we’ll be glad to help. It cost you NOTHING, ZERO, ZIP, FREE! Did you know that some people who experience foreclosure, later reveal, they never talked to an expert to find out about their options and find a solution? It’s true!

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    Have a great Labor Day Weekend!

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    Pete@ExtremeShortSale.com   661-406-2959

    Matt@ExtremeShortSale.com   661-713-4799
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