Daniel's Blog

Modesto CA – The Stop Foreclosure Institute recently received a question from Tawny. Here is Tawny's Question. "I have not been late on any payments but my income will be changing dramatically towards the end of the summer. What is your exact service and what are the fees involved? I do not have any cash in savings and pretty much live paycheck to paycheck. Tawny." Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Here is the answer to Tawny's Question: A Short Sale doesn't cost the homeowner any money. All of the costs are paid for by the homeowner's lender. Now, I'm sure you are asking, "The bank is losing money on the short sale. They wouldn't want to have to pay to sell the property." Many people also think this. After all, it makes sense logically. But, it's actually not the case. Banks have been lending money for centuries. They have learned from past experience that a short sale is a good way to cut their losses. In fact, a recent study by the Boston Consulting Group actually showed that a short sale reduced a lender's losses by 20%, compared to a foreclosure. After a lender forecloses on a property they put it up for sale. They have to hire and pay a real estate agent and all the other related costs. Why not pay those costs on a short sale and cut their losses by 20%? It's a good business decision. And that's why a short sale doesn't cost the homeowner anything. Your lender covers all the cost including the real estate agent, title fees, and other closing costs. Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at danseider@gmail.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (209) 743-1061 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our Modesto loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Daniel Seider. Daniel is a Real Estate Daniel Seider at Big Trees Real Estate. Modesto Short Sales Realtor: Phone: (209) 743-1061. danseider@gmail.com. Climb Higher View My homes for sale at www.bigtreesrealty.com. Daniel Seider specializes in loan modification assistance and short sales in Modesto California. Modesto Loan Modification Help, Modesto Short Sales, Modesto Short Sale Realtor. , Short Sale Realtor. Modesto CA Short Sales. Modesto Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Daniel Seider's personal views and do not reflect the views of Big Trees Real Estate. This information on How Much Do You Charge For A Short Sale in Modesto? is provided as a courtesy to our viewers to help them make informed decisions.

Angels Camp CA – According to data from the National Bankruptcy Research Center, US bankruptcies have reached a 5 year high. The last record was set in 2005. That record was set because bankruptcy laws were being tightened up and people wanted to file before the laws changed. (The big banks had convinced congress to make it harder for debtors to get relief.) Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. The number of bankruptcies filed in 2010 reached 1,530,078. That was an increase of 8.7% over 2009. Even though the economy is starting to show signs of a recovery, people still need relief from debt. "The [2005] law was supposed to reduce filings, but we are very close to levels we were at then," said Samuel J. Gerdano, Executive Director of the American Bankruptcy Institute. "The laws of economic gravity are more powerful than the laws passed by Congress." I can’t agree with him more. Here are a few tips if you are considering bankruptcy. Tip #1: Sometimes not filing bankruptcy at all is preferred to a Chapter 13 Bankruptcy filing. Let me explain why. A Chapter 13 is basically a repayment plan. Very few debts are wiped out. In addition, your whole financial life is placed in the hands of a bankruptcy trustee. They oversee all your finances so you can attempt to repay everyone. Contrast this with a Chapter 7 Bankruptcy where you can erase debts you can’t afford. Tip #2: When you interview bankruptcy lawyers, ask about their ratio between Chapter 7 filings and Chapter 13 filings. A good bankruptcy lawyer will be able to help you file Chapter 7 and avoid a Chapter 13 bankruptcy. Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at danseider@gmail.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (209) 743-1061 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our Angels Camp loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Daniel Seider. Daniel is a Real Estate Daniel Seider at Big Trees Real Estate. Angels Camp Short Sales Realtor: Phone: (209) 743-1061. danseider@gmail.com. Climb Higher View My homes for sale at www.bigtreesrealty.com. Daniel Seider specializes in loan modification assistance and short sales in Angels Camp California. Angels Camp Loan Modification Help, Angels Camp Short Sales, Angels Camp Short Sale Realtor. , Short Sale Realtor. Angels Camp CA Short Sales. Angels Camp Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Daniel Seider's personal views and do not reflect the views of Big Trees Real Estate. This information on US Bankruptcies just reached a 5 year high is provided as a courtesy to our viewers to help them make informed decisions.

Valley Springs CA – We often get asked if a short sale is even worth the effort. “Do I need to have my short sale “Approved” by my lender before I put my home on the market?” one seller asked us. “When I called my lender they wouldn’t talk to me about my short sale. I am concerned that they might do that when I finally sell the property and I’ll never get the short sale approved.” Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Here was our answer. Most lenders will not talk to you about a short sale until you have several things in place. They want a solid offer from a pre-qualified home buyer along with all the necessary financial documents. Why do they do this? Because they only want to process short sales that will sell and close. Now, I think it’s a stupid way to do things. Instead of refusing to negotiate short sales until there is an offer on the table, they should instead pre-approve short sales. It would make the process so much easier. A home could be placed on the market at a set price. Buyers would be more interested in the property because they know they can get an answer in 2-3 days versus 2-3 months. We have brought this up with Matt Vernon, the Vice President of Bank of America’s Short Sale Department. He knows there is stuff to improve. But, it’s hard to change the course of a huge company with so many different parties involved. Despite all this, experienced short sale agents are getting short sales approved every day. The Short Sale Process is getting better and easier to navigate. More and more lenders are moving towards “Approved” Short Sales. You just need to find a good short sale realtor that can navigate their way thru the crazy short sale process. Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at danseider@gmail.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (209) 743-1061 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our Valley Springs loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Daniel Seider. Daniel is a Real Estate Daniel Seider at Big Trees Real Estate. Valley Springs Short Sales Realtor: Phone: (209) 743-1061. danseider@gmail.com. Climb Higher View My homes for sale at www.bigtreesrealty.com. Daniel Seider specializes in loan modification assistance and short sales in Valley Springs California. Valley Springs Loan Modification Help, Valley Springs . Valley Springs Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Daniel Seider's personal views and do not reflect the views of Big Trees Real Estate. This information on Does My Valley Springs Short Sale Have To Be Approved Before I Put It Up For Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Valley Springs CA – If you are selling your home, then ask the buyer to write a letter about why they want to purchase the home. If you are a buyer, then write that letter. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. The listing agent will submit that letter along with the short sale paperwork. With a little luck that letter will help “grease the wheels” and cause the short sale to be approved faster. Short Sale negotiators are human beings. They have emotions that can be touched by a good story. These letters might sound like a joke, but they can make a huge difference. I’ve even seen home owners lose money on their sale because the liked a certain buyer over another one. In that case, the seller sold their home for several thousand dollars less to a buyer that they liked. The other buyer had been rude and the seller didn’t like them. If that made a difference when the seller was losing their own money, then think about the difference it will make to a short sale negotiator who isn’t losing their own money. Put a good story in your letter. Here are a few examples. You might say something like this: “We are a first time home buyer looking for our first home. We just want to move out of our cramped apartment and are looking forward to our first home where we can plant a garden.” Or, maybe it would be like this: “We have looked for a while and finally found this home on Elm Street that we love. We are selling our current home so we can buy a house with a yard. Our two boys, Tim and Julian, have been begging us for a swing set. We never had room in our old condo. If you approve our short sale offer, then we will finally be able to give them the large, fenced backyard they’ve always wanted with a swing set. We’ve already picked out the swing set plan and Tim and Julian are so excited about it. So, don’t approve the short sale offer for us, approve it for them.” See how I’m pulling the negotiator’s heartstrings. Unless your short sale negotiator is absolutely heartless, it will make a difference for you. Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at danseider@gmail.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (209) 743-1061 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our Valley Springs loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Daniel Seider. Daniel is a Real Estate Daniel Seider at Big Trees Real Estate. Valley Springs Short Sales Realtor: Phone: (209) 743-1061. danseider@gmail.com. Climb Higher View My homes for sale at www.bigtreesrealty.com. Daniel Seider specializes in loan modification assistance and short sales in Valley Springs California. Valley Springs Loan Modification Help, Valley Springs Short Sales, Valley Springs Short Sale Realtor. , Short Sale Realtor. Valley Springs CA Short Sales. Valley Springs Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Daniel Seider's personal views and do not reflect the views of Big Trees Real Estate. This information on Another tip to improve the odds of your short sale offer being approved is provided as a courtesy to our viewers to help them make informed decisions.

Modesto CA – The Star Tribune, a newspaper in Minneapolis, recently ran a story about loan modifications. Here is an excerpt from the article: “Many people who sought help under a federal program created to keep them from losing their homes are instead getting saddled with huge, unexpected bills. Thousands now face a stark choice: Go deeper into debt, or foreclosure. Lenders routinely approved short-term "trial" loan modifications that reduced payments for desperate borrowers under the umbrella of the Obama administration's Home Affordable Modification Program. But lenders continued to count the mortgages as delinquent or in default. Now instead of granting permanent modifications, lenders often are reinstating the original loan terms and demanding big back payments. Carl Christensen, a Minneapolis real estate attorney, said he is getting 15 telephone calls a week from shocked borrowers. "The banks put out their hand and say, 'We're going to help you,' and then stab people right in the back," Christensen said. Patti, 51, and Scott Weddle, 57, of Harris, Minn., were ecstatic when J.P. Morgan Chase offered in November 2009 to cut their monthly mortgage payments by about 20 percent under a trial modification. Patti was out of work with a neck and back injury, and the Weddles were having difficulty making ends meet. Nearly a year later, the Weddles were told that their application for a permanent modification was denied and that they would have to pay $24,228 to bring their mortgage current and avoid foreclosure. The Weddles insist the demand came as a shock, because they had made all their payments on time under the trial modification. "We did everything that was asked of us, and it only pushed us deeper in the hole," Patti Weddle said. A growing number of critics contend the loan modification program, known within the industry as HAMP, may be doing more harm than good. Many homeowners are draining their savings and incurring new loans to make the temporary payments only to end up in foreclosure anyway when they can't afford the large, lump-sum payments demanded at the end of the process. When the Weddles got turned down for permanent relief under HAMP, they decided to stop making their monthly payments. They expect to receive foreclosure papers any day and most of their belongings are packed. "If we had $24,000 lying around, then we wouldn't have sought help to begin with," Patti Weddle said. A spokesman for J.P. Morgan Chase said the risks were disclosed to the Weddles. Under the trial modification signed by the couple, J.P. Morgan reserved the right to terminate the plan at any point and begin foreclosure. The bank also reserved the right to determine the final amounts of unpaid interest and any other delinquent amounts. "We work with customers to try to keep them in the home whenever possible," said Thomas Kelly, a bank spokesman. "And the HAMP documents clearly explain the steps along the way." Paula Viehman, 60, recalls the day she was approved for a trial modification in June 2009. After a 30-minute conversation, a CitiMortgage representative agreed to cut her monthly payment by half to $929. "It was the answer to my prayers," said Viehman, a state employee who lives in Minneapolis. Fifteen months later, CitiMortgage sent two letters claiming she was in default on her mortgage and owed $13,569 in back payments, late fees and other charges. When Viehman called to complain, she learned that CitiMortgage had denied her application for permanent relief under HAMP, though the bank had never notified her. Viehman refuses to make the lump-sum payment, largely on principle, because that would mean accepting Citi-Mortgage's claim that she's in default. Though she continues to make monthly mortgage payments, she suspects the bank will eventually foreclose on the house where she's lived for 25 years. "The longer I go through this, the madder I get," she said. "I did everything they asked and more." Citigroup, CitiMortgage's parent company, declined to comment about Viehman's complaints because of privacy concerns. However, in a written statement, the bank said the original terms of a mortgage remain in place during a trial modification. Borrowers only receive relief from delinquent payments if they get permanent modifications. Many borrowers say they never would have signed up for HAMP had they known the risks. Lynda Devine, 49, of Faribault, said she had not even heard of HAMP until she called her mortgage servicer, Aurora Loan Services of Colorado, about a routine matter. While on hold, she found herself listening to a recorded message that said she might qualify for HAMP. She checked it out and learned it was a program sponsored by the Obama administration. "It all seemed very legit," she said. Aurora agreed to cut her monthly payment to $1,400 from $2,000 under a trial modification. But Devine, a children's mental health social worker and waitress, soon found herself mired in a bureaucratic nightmare. As she sought permanent relief, Aurora kept asking for the same documents -- including bank and tax statements. Devine estimates she has faxed documents to Aurora more than 60 times. Nonetheless, she received notice in July that she was in default. Soon after, she got a letter from Aurora's law firm saying she would have to come up with $13,496 or face foreclosure. Devine couldn't stomach the idea of losing her 1920s-era farmhouse and her 35 acres, where she keeps three beloved horses. Aurora did not return repeated calls seeking comment. Devine borrowed against her truck and horse trailer to pay the $13,496, but she's considering suing Aurora to get the money back.” I think that what these banks are doing is pathetic. In my opinion, half the reason that loan mods aren’t approved is because the lenders are too lazy to process the files. In fact, the article continues and tells us how the lenders are actually rewarded for not processing loan modifications. Here is what it says. “Incentives favor foreclosure. It would seem to be in a mortgage company's interest to modify a mortgage, because lenders often recover only a small fraction of a loan after a foreclosure. But only 12 percent of all delinquent mortgage borrowers are receiving permanent relief under HAMP. Last month, a congressional panel predicted it would prevent just 700,000 to 800,000 foreclosures -- far fewer than the Obama administration's original goal of 3 million to 4 million. Some lending experts argue that the root of the problem lies in the complicated way in which mortgages are bought and sold. Most end up with institutions or investment trusts that hire servicers to collect monthly payments. Servicers, unlike lenders, don't generally lose money on a foreclosure. In fact, servicers actually can collect more in fees on a foreclosure than from modifying a mortgage, according to a 2009 study by the National Consumer Law Center.” I think the entire system is flawed. The only people that get relief are people that fight for it. If you feel like you have been turned down for a loan modification, then I would recommend that you protest in front of the lender’s local branch. Nothing is going to change until people know about what is happening. Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at danseider@gmail.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (209) 743-1061 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our Modesto loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Daniel Seider. Daniel is a Real Estate Daniel Seider at Big Trees Real Estate. Modesto Short Sales Realtor: Phone: (209) 743-1061. danseider@gmail.com. Climb Higher View My homes for sale at www.bigtreesrealty.com. Daniel Seider specializes in loan modification assistance and short sales in Modesto California. Modesto Loan Modification Help, Modesto Short Sales, Modesto Short Sale Realtor. , Short Sale Realtor. Modesto CA Short Sales. Modesto Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Daniel Seider's personal views and do not reflect the views of Big Trees Real Estate. This information on Modesto Short Sales: Loan Modifications can be a recipe for disaster is provided as a courtesy to our viewers to help them make informed decisions.

Modesto CA – A home owner thinking of a short sale recently asked us why they should short sale versus just walking away and letting their lender foreclose on the home. We gave them the normal answer: “It’s much better for your credit.” That was the first thing that popped into our head. But, I knew there are more benefits to a home owner than simply better credit. So I put together the entire list and here they are. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. 1. The upside down debt is erased in most cases. If you are selling because of a financial hardship, then the upside down debt will be automatically erased in most cases. Is your loan is owned or insured by the following agencies: Fannie Mae, Freddie Mac, FHA, and or VA? If you are short selling because of a financial hardship, their policies state that your debt will be erased. 2. You are eligible to buy another home much sooner compared to a foreclosure. The most common loan program, Fannie Mae, stipulates that you can buy another home under their program in 2 years. FHA, a popular low down payment loan program stipulates that you can qualify for an FHA loan within 3 years. 3. No Cost To You. That is right. A short sale costs you nothing. All of the expenses are paid for by your lender. That includes the title insurance, any county taxes or fees on the sale, attorney fees, and the Real Estate Agent. If the lender foreclosed on the house and then tried to sell it, they would have to pay all the costs. So why not pay the costs with a short sale? 4. Your credit suffers less damage. Most people think that a short sale will be the kiss of death to their credit. That is the one big advantage of a short sale over a foreclosure. Upon completion of the short sale, your credit score will drop between 50 and 100 points. However it will rebound fairly quickly. The other benefit is that you will have less debt. (A lot of debt hurts your credit score.) You will have a lower debt to income ratio, which will boost your credit. In a couple of years your credit will be back to normal and you can buy another home. In addition, anything and everything bad on your credit can be fixed thru the dispute process. 5. You can often rent a comparable house for less than your former mortgage payment. In one example, a homeowner in foreclosure found a larger home. It even had a fenced backyard for their kid and a garage. Their prior mortgage payment was $1,500. They rented the nicer, bigger house for $850 a month. 6. You avoid the humiliation of a foreclosure. 7. You don’t have to pay rent during the short sale process. A short sale can take up to 6 or 9 months. Not all of them do. But, some do. If you aren’t concerned about your credit, then you can stop making your mortgage payments during the short sale. You can use the savings for the deposit on a rental. Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at danseider@gmail.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (209) 743-1061 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our Modesto loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Daniel Seider. Daniel is a Real Estate Daniel Seider at Big Trees Real Estate. Modesto Short Sales Realtor: Phone: (209) 743-1061. danseider@gmail.com. Climb Higher View My homes for sale at www.bigtreesrealty.com. Daniel Seider specializes in loan modification assistance and short sales in Modesto California. Modesto Loan Modification Help, Modesto Short Sales, Modesto Short Sale Realtor. , Short Sale Realtor. Modesto CA Short Sales. Modesto Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Daniel Seider's personal views and do not reflect the views of Big Trees Real Estate. This information on Seven Ways You Benefit From A Modesto Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Modesto CA – Many home buyers think that the short sale lender is in charge during a short sale. Nothing could be further from the truth. The short sale lender can only veto short sale offers. They can’t put the property up for sale or decide who to sell it to. Only the home owner can do that. Why is that? Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Until the lender forecloses on the home the home owner is in the driver’s seat. They “own” the property until the lender forecloses. We have had many buyers get angry that a home owner would not accept their lowball offer. “You have to submit my offer to the lender. If you don’t then that would be fraud”, they tell the home owner. You, the home owner are in charge. That means that you can make the following decisions. You are allowed to pick the buyer’s offer that you think the lender will be most likely to accept. You are allowed to turn down offers that you don’t like for whatever reason. (Maybe the buyers are too picky about the home and want you to make repairs.) You are allowed to turn down offers if the buyer is not pre-approved for a loan. In addition, you can ask the buyer to inspect the property before they write a contract. You are allowed to ask for an earnest money deposit to make sure the buyer is serious about the house. It is your right to do these things for as long as you own the property. Don’t let anyone tell you otherwise. Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at danseider@gmail.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (209) 743-1061 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our Modesto loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Daniel Seider. Daniel is a Real Estate Daniel Seider at Big Trees Real Estate. Modesto Short Sales Realtor: Phone: (209) 743-1061. danseider@gmail.com. Climb Higher View My homes for sale at www.bigtreesrealty.com. Daniel Seider specializes in loan modification assistance and short sales in Modesto California. Modesto Loan Modification Help, Modesto Short Sales, Modesto Short Sale Realtor. , Short Sale Realtor. Modesto CA Short Sales. Modesto Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Daniel Seider's personal views and do not reflect the views of Big Trees Real Estate. This information on Modesto Short Sales: Who is in charge during a short sale? is provided as a courtesy to our viewers to help them make informed decisions.

Modesto CA – Have you heard the following myths about short sales? Myth #1: You can buy short sales for dirt cheap and then turn around and resell them for a profit. Myth #2: Foreclosures, Short Sales, and Bank Owned Homes can be bought for 30 to 50 cents on the dollar with no money down. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Myth #3: Lenders will accept any short sale offer even if it is for only 50% of what the home is worth. After all, they don’t want a foreclosure on their books. These myths are just not true. Lenders are willing to foreclosure on properties. They have entire departments handle the sale of properties that they have foreclosed on. Another foreclosure is nothing to fear. At the same time, they do prefer short sales. Short Sales are known to reduce a lender’s loss compared to a short sale. They have high paid actuaries who have run the numbers and proved that to be the case. That means they take a pragmatic approach on short sales. They want to make sure that he short sale offer isn’t lower than what the home would sell if they foreclosed on it. That is why they order an appraisal before accepting the offer. They won’t agree to a sale if the offer is for substantially less than the appraised value. If the offer is 5% lower than the appraisal, then they might accept it. If it is substantially less, then they will ask the buyer to raise their offer to the appraised value. Another thing lenders check before approving a short sale is that they aren’t approving a short sale for someone that is able to afford their home. They don’t want to lose money on a short sale when they can make money when the person repays the loan. Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at danseider@gmail.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (209) 743-1061 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our Modesto loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Daniel Seider. Daniel is a Real Estate Daniel Seider at Big Trees Real Estate. Modesto Short Sales Realtor: Phone: (209) 743-1061. danseider@gmail.com. Climb Higher View My homes for sale at www.bigtreesrealty.com. Daniel Seider specializes in loan modification assistance and short sales in Modesto California. Modesto Loan Modification Help, Modesto Short Sales, Modesto Short Sale Realtor. , Short Sale Realtor. Modesto CA Short Sales. Modesto Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Daniel Seider's personal views and do not reflect the views of Big Trees Real Estate. This information on Modesto Short Sales: Are Lenders So Desperate They Will Accept Any Offer? is provided as a courtesy to our viewers to help them make informed decisions.

Celebrate New Years in Murphys ….. enjoy our small town atmosphere and receive a $75 dining certificate! The Greenhorn Creek Vacation Cottages are offering a $75 dining voucher for Camps Restaurant with any 2+ night rental on a full cottage thru the end of December. For more information call: 209-736-9372 or visit the website: www.ghcvacationcottages.com to get additional Cottage information. Tuesdays in January - Winemaker's Night at Alchemy - Every Tuesday night you can expect free live music on our patio from 5:30-8:00, our delicious dinner menu, and a featured menu option for one low price. Call 209-728-0700 for reservations. Thursdays in December & January - Knit Nights at MaisieBlue's - Every Thursday from 6-9pm. Grab your projects and join us for a few hours. Call 209-728-8261 to reserve your space or contact us at maisieblue@gmail.com for more information. Fridays in December & January - Fridays At Alchemy. Matt Cullen Delivers style with pop, country and jazz vocal performances from the 40s, 50s, 60s and beyond every Friday on our patio from 5:30-8 pm. The music is free, and there's room to dance. Call 209-728-0700 or visit mattcullenonline.com for more information. Saturdays in December & January - Walking Tours of Historic Downtown Murphys are available at no charge on Saturday mornings at 10am leaving from the Old Timers Museum across from the Murphys Hotel. Please contact Bob Buchanan at 209-728-3517 to confirm dates and times or to set up a tour for a group of 12 or more December 14 - Mid May - Tanner Vineyards Wine of the Month and New Winter Hours - We've switched to winter hours, open every day except Tues and Wed.... Our holiday cuvee 'Doux Rose' (a light Syrah, on the sweet side) is our December wine of the month! This month we are pairing it with milk chocolate; it's a wonderful crowd-pleaser for the holidays! Buy 2 bottles and your 3rd is half off! This offer is good on all varietals except Library Selections. Merry Christmas and Happy New Year! We offer holiday tastings for groups up to 15 or less.. 209.728-8229 and ask for Nanette or Annie December 31. 2010 - Celebrate New Year's Eve on East Coast Time at Alchemy - Enjoy Dinner at 6 pm, Auld Lang Syne at 9 pm (Midnight EST) and be home by 10 pm. That's New Years the way you want it! Choose from Alchemy's great dinner menu or a special 3 course New Years Eve dinner. Music by Matt Cullen, Don McDowell and Dave Navarro. Dance, sing and have a good time. $5 cover charge. Call 209-728-0700 for reservations. Dec. 31st- New Year's Eve Party at the Murphys Hotel! - We will be celebrating upstairs and downstairs as usual. Upstairs is limited to the first 60 people, and includes a three course plated dinner, champagne toast, and Live Music with a Dance floor. This will start at 7:30 p.m. and end around 12:30 a.m. The cost is $79.00 per person inclusive so make reservations NOW! For more information call Brian at (209)-728-3444 ext 416. Downstairs starts anytime and ends at 2:00a.m. LIVE MUSIC starts at 9:00p.m. with "Plan B" a Local favorite. Our dining room will be open late for a 9:00 p.m. seating if needed. Come celebrate with us and become a part of History at The Longest continually running Hotel In California Saturdays in January - Guided Walks, Calaveras Big Trees State Park at 1pm. - Walk is 1.5 to 2 hours, limited to 30 people. When there is snow in the park, the walk will become a snowshoe walk. Guided walk is free, park entry is $8 per car. C all 209-795-2334 for weather updates and more details. January 13, 2011 - Wines of the World, Murphys - 5:30 to 7:30 p.m. at Murphys Historic Hotel. Matt Hatcher of Hatcher Winery will present Barberas from the Sierra Foothills, poured alongside light appetizers from the Murphys Hotel. Cost is $15 for CWA members and $25 for non-members. $5 discount coupon for each entrée for participants who opt to stay for dinner. Call 209-728-9467 for more info or visit www.calaveraswines.org January 16, 2011 - Fundraising Concert for Mind Matters - Steve Seskin, Craig Carothers, and Don Henry, three of country music’s most successful songwriters will return to Murphys by popular demand to stage a concert on behalf of the Mind Matters clinic on Sunday, January 16, 2 p.m. in the Black Bart Playhouse, 580 S. Algiers St. Tickets for the Mind Matters Fundraiser are $30 each and may be obtained by calling 728-2184. There is ample free parking at the Black Bart Playhouse. January 19, 2011 – Cooking Classes at the Marisolio Tasting Room – Chinese New Year Theme - 10am or 6pm We take a few liberties with this class theme, adding a dash of Thai and a little Vietnamese, but the results will thrill your taste buds. Noodles, Spring Rolls, fortune cookies and more! – Call the store at 209-728-8853 to reserve your space. Class size is limited so payment is due when reserving your space. January 21, 2011 - Silent Movie Night at Ironstone Vineyards - Featuring two great Train Movies, “The General” Buster Keaton 1927 & “The Great Train Robbery” 1904. This special evening is for train enthusiasts, on display will be Model Train Moving Displays and a Rail Road Dinner Menu. Tickets are $20/person for dinner, show, & popcorn during the show. Dinner is at 6:30 p.m., movie at 7:30 p.m. Call 209-728-1251for more information or to make your reservations.

Modesto CA – This is one of the first questions potential short sale sellers ask us. “I heard of something called “forgiveness of debt income and that it is taxable. How does that work?” they ask. The following article is my personal opinion only. I recommend that you consult with a competent legal or tax professional before moving forward with a short sale. In most cases the answer is that a short sale will usually not cause you to owe income tax. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. It used to be that you owed income tax on any forgiveness of debt. When a lender decides to forgive all or a portion of a borrower's debt, the forgiven amount is considered as income for the borrower and is liable to be taxed. Here are the following ways you can qualify to short sale a property without any tax liability. Short Sale of a Primary Residence. The Mortgage Forgiveness Debt Relief Act of 2007 (and it’s extension in the 2008 Federal Bailout) now allows you to short sale a primary residence without any tax liability. Today when a homeowner short sales a primary residence, they can file a simple form and the forgiven debt is no longer taxable. The amount of forgiven mortgage debt allowed to be excluded from income tax is limited to $2 million per year. Short Sale of a Non-Primary Residence: If the property you are selling is not a primary residence, then you may be eligible for tax relief if you are considered insolvent. I don’t know the exact guidelines, but insolvent is usually considered when your total gross debts are more than your total gross assets. I’m sure a good tax professional can give you more information. Click here to view the IRS’s website about the Mortgage Forgiveness Debt Relief Act and Debt Cancellation. Click here to view the article on the IRS’s Website: Mortgage Workouts Now Tax-Free for Many Homeowners. Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at danseider@gmail.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (209) 743-1061 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our Modesto loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Daniel Seider. Daniel is a Real Estate Broker at Big Trees Real Estate. Modesto Short Sales Realtor: Phone: (209) 743-1061. danseider@gmail.com. Climb Higher View My homes for sale at www.bigtreesrealty.com. Daniel Seider specializes in loan modification assistance and short sales in Modesto California. Modesto Loan Modification Help, Modesto Short Sales, Modesto Short Sale Realtor. Short Sale Realtor. Modesto CA Short Sales. Modesto Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Daniel Seider's personal views and do not reflect the views of Big Trees Real Estate.