A Testimonial for Fastcash4homes.biz from Beverly and Marshall Oesterblad

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We’ll Sell Your House in 33 Days or Pay You $5,000

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How to Buy Another Home IMMEDIATELY After a Short Sale

Yes, it’s possible to buy a home ONE DAY after you short sale another home.  Sound too good to be true?  Well, wait a minute.  There are certainly terms and conditions and restrictions that apply.  Here they are in a nutshell.

You’ve probably heard that you have to wait at least 3 years after a short sale to buy another property.  This is true IF you are in default:  If the property has an NOD or an NOTS filed against it or you’ve missed payments, you will have to wait.  You would not be eligible for this special loan program.

First and foremost, you MUST be CURRENT on ALL mortgages on the current property.  No late payments are allowed on any of the mortgages.  Secondly, you MUST stay CURRENT while the short sale is going on and is being processed.  The short sale may take 2 to 8 months to get approval and to close, so all mortgage payments MUST be made and MUST be current to qualify for this special financing program.  NO LATE payments are allowed.  You also MUST have excellent credit overall as well.

The next biggest requirement is that this financing program requires a 20% down payment.  For example, a house sold for $400,000 would require a $80,000 down payment, which is a substantial amount of money.   You also cannot buy a house in the same neighborhood or general area that you live in currently.

The benefits to this program are huge!!  First of all, you get pre-qualified and pre-approved for your new loan BEFORE you put your house on the market.  So you know exactly how much you are qualified to buy before you even decide to commit to selling your current residence.  You have tremendous peace of mind knowing this BEFORE your house is up to sale.  Then you can start looking for a new house while the short sale is taking place.  So you are simultaneously selling your current house as a short sale and looking for a new residence.

The goal, of course, is simultaneous (or as nearly simultaneous as possible) closings.  You can literally buy another house ONE DAY after you complete the short sale on your current residence.

Cautions, however:  The credit requirements are stringent, and not everyone will qualify.  You must have excellent credit and no delinquent payments.  There is no guarantee that the short sale lender/s will actually approve the short sale.

To summarize, this loan product is not for everyone.  However, it does give some borrowers alternative options to renting for 3 years until buying their next residence.

If you are interested in this program, let’s talk!  My phone is 909-972-1616 and my email is docrealtors45@gmail.com. Please contact me for a free, 100% confidential, no obligation consultation.

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Having difficulty in making mortgage payments? Here are some Free options to consider…

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Free Consultation and Some Fun at Christmas Parade & Holiday Faire in Upland, CA

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HUGE Incentive for Short Sale


SHORT SALE = Up to $30,000 for You!!!

Did you know that some banks (Chase and now Bank of America) are giving HUGE incentives to homeowners if they choose to short sale a home rather than let it foreclose?

I just got an email from Bank of America a few days ago explaining the program.  It’s called a Streamlined, Cooperative short sale, and it has a number of key advantages for the homeowners.

  • The homeowner is guaranteed a payment of at least $2,500 and UP TO $30,000 if you qualify for this program.  This is called “Relocation Assistance.”
  • The program requires very, very little in the way of paperwork.  It’s not necessary to gather 2 years of income tax returns, bank statements, pay stubs, hardship letter, and a financial statement.  You only have to fill out 3 very simple documents.

The best part of this, is that in California, there are no deficiency judgments.  That means if a short sale is approved, there is no balance due.  The short sale lenders approve the short sale and forgive the balance.

So if you are having a hard time with your loan and want to discuss a short sale, please call me at 909.972.1616 or email me at  docrealtors45@gmail.com.   Again, remember that there is no cost or obligation for this FREE consultation.  And all costs involved in selling your property are paid for by the lender.



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If You Have 2 or More Loans and Your Home is Under Water in CA, You MUST Do a Short Sale.

In July 2011, Governor Jerry Brown of California signed the landmark SB 458, which is HUGE for CA homeowners and investors. It basically protects them against all junior lien holders if they complete a short sale on their property in CA.

Previous law, SB 931, only applied to senior lien holders. Junior lien holders had the choice to approve a short sale only if the borrower would agree to sign a promissory note to pay the full balance.

This new law, however, doesn’t require or force the junior lien holders to approve the short sale. But if they do approve the short sale, then they must accept the short payoff as full payoff and must agree NOT to pursue the deficiency judgment and must NOT go after the homeowner to sign a promissory note for the balance amount after the short sale closes.
Here are the excerpts from the Bill:

“Effective immediately for transactions closing escrow from this day forward, both senior and junior lien holders cannot require a borrower to owe or pay for a deficiency in a short sale. This law also prohibits any deficiency judgment to be requested or rendered for senior or junior liens after a short sale of one-to-four residential units. Any purported waiver of this rule shall be void and against public policy.”

Although lenders are prohibited from pursuing borrowers to pay any additional compensation in exchange for a short sale approval, the law allows the seller to voluntarily offer a monetary contribution