Hayward CA – Another common type of loan that does not usually have a deficiency is a “Sliced and Diced” loan. A “Sliced and Diced” loan is a loan that has been securitized along with a bundle of other loans.
Here is how that happened. John gets a loan from ABC Bank. ABC Bank is running out of money to lend out. So, they sell 1,000 of their mortgages to Goldman Sachs.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Goldman then securitizes that bundle of 1,000 mortgages and sells of 50,000 shares of stock. Each piece of stock represents a small percentage of the bundle of 10,000 mortgages.
But, how does that affect whether or not you will have a deficiency on a short sale? First, the majority of “Sliced and Diced” loans that we have short sold released the seller from the deficiency.
This means that the short sale approval letter said that the homeowner was being forgiven of the debt. What about the people who are not specifically released from the deficiency?
The good news is that the vast majority move on with their life and never hear anything more from their lender. Time moves on and they forget about the debt.
The good news is that after a few years the statute of limitations kicks in and they are home free. Their lender no longer has the right to collect the money from them. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at jdiazrealtors@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 510-912-4519
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Hayward 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, Jose Diaz.
Jose is a Real Estate Broker at J. Diaz, REALTORS. Hayward Short Sales Realtor:
Phone: 510-912-4519. jdiazrealtors@gmail.com.
Hayward's Most Sought After Short Sale Specialist"
Have Questions? Need Help? Call Today For Your Free Consultation “The 7 Options Available When You Have NO Equity” Call Today 510-912-4519
Jose Diaz specializes in loan modification assistance and short sales in Hayward California. Hayward Loan Modification Help, Hayward Short Sales. Hayward Short Sale Realtor. Hayward CA Short Sales. Hayward Realtor.
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Important Notice
Jose Diaz, J. Diaz, REALTORS, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
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