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How to Get Your Short Sale Approved
Serving All of Los Angeles County and Surrounding Areas
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Our
Goal
We understand how difficult the decision must be for you and your family to Short Sale your Home. We aim to build the bridges between home owners, real estate agent professionals
and the Lenders, to ensure that you receive the help you need on a one on one basis. Although we have direct connections
to most lenders ( Bank of America, Chase, Citi, Wells Fargo plus many others ) we work directly with you and for you to achieve a goal that is in your
best interests. See our Short Sale Reviews and Testimonials.
Why Should I Short Sale ?There has Never been another time in History when Banks/Lenders are forced to Forgive Debt by Law. State and Federal Taxes on that Forgiven Debt have been exempt as well. The Lenders have been paying all Fees Associated with the Short Sale as well including Realtors Fees, Escrow Fees, Title Fees, and Even Over-Due Property Taxes. If you are Upside Down in your home, and have an over-whelming mortgage, it is time you learn about the benefits a Short Sale in California can provide. We are Certified, Licensed Short Sale Agents - Short Sale Realtors with over 20 years of Real Estate Experience. We have already Helped Many Good Down to Earth People Get Out of Their UnderWater Homes ...FREE and CLEAR. Contact us Today for a Free Consultation See Form or Call (818) 424) 8340. Our previous clients have benefitted by :
*Get Paid $35,000 to Short Sale
My Home? What's
the deal with this "up to $35,000" with getting a Short Sale Incentive to Short Sale My Home?
Is it True? You can see the advertisements all over Page 1 of Google, and on articles in CNN Money (SEE ARTICLE) and The New York Times (SEE ARCTICLE). Contact us so we can go over all the available programs and options that can benefit you. All our services
and consultations are 100% FREE and obligation FREE to you. You can submit your
request in the form provided on this page or call us at (818) 424-8340. We promise to do our Best to make the Short Sale Process - Hassle Free. We would love the opportunity to earn your business. Results may vary. Previous results are not indicative of your results. Not every Home owner will qualify for a Short Sale or some of the benefits previously received by our clients. Can I Short Sale My House ?Many Property owners have heard of a short sale in the news however unfortunately many who are eligible for this assistance program are not aware if they Qualify. You can Short Sale your Property whether it's a Condo, Single Family Residence, Multi-Family Residence, an Investment Property or a Primary Residence. Banks are now allowing Commercial and Multi-Family 5+ Complexes. Yes you Qualify if: #1 is mandatory and either of 2 or 3 or 4:
What are Homeowner Hardships in a Short Sale ?
* Is there a possibility you could still
do a short sale without an actual hardship? Yes it is possible. This is what is known as
a Strategic Short Sale. A strategic short sale occurs when there is no hardship and the owner could continue to pay their
mortgage but it considering just “walking away” but does not want to suffer the consequences of a Strategic Default (foreclosure). If it makes financial sense to the lender they may still consider a short sale where
there is no hardship. In this case the lender may ask you for a cash contribution. How Do I Short Sale My Home ?Contact us for a FREE Consultation. Either Call John & Mike
(818) 424-8340 or fill out contact form provided on this page. The Consultation is Free, All our Services are Free (The Lender
Pays us), we do all the negotiations for you with only you best interests in mind, and you can rest assured that you have
a California Licensed, Certified Short Sale Agent working for you that will deliver a smooth, hassle free process. What is The Short Sale Process in California ?
What are Short Sale Tax Implications?
The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief. This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition. For a brief overview go to IRS Debt Cancellation FAQs. More information, including detailed examples can be found in Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments. Also see IRS news release IR-2008-17. Ask your accountant to utilize Form 982 with your Return. Further Questions directed to the IRS go to IRS Tax Help at IRS.gov. * You should speak to your accountant to determine the amount of short sale tax consequences, if any. Depending on
your situation state taxes may apply. Who Can Short Sale My Home?Only a Licensed Real Estate Agent in The State of California can
Short Sale your Home or Property. Banks do not not Short Sale Properties, they must utilize the services of a CA Licensed
Realtor. Who Should Short Sale your Property is a different Question. Only an Experienced, Licensed, and Certified
Short Sale Realtor Should Short Sale a Home or Property. It is a completely different job than your typical Real
Estate Listing Agent. An Experienced California Short Sale Agent knows how to negotiate with banks to make sure all your interests are protected while successfully closing your Short Sale
Property. Only Certified Short Sale Experts that personally negotiate with the banks so they know every detail of your transaction and keep in direct contact with the
banks. If you have any questions regarding the difference Short Sale Realtor vs Realtor contact us at (818) 424-8340 or utilize
the contact form provided on this page. Thank you. What is a Short Sale in Real Estate?A short sale is the process
by which a homeowner can sell a house for less money than actually owed on the Loan(s) Balance. What is The Short Sale Timeline? We have a 98+% Success rate
in receiving Short Sale Approvals from the Banks / Lenders. Do Short Sales take longer than Standard Sales? Probably. But
depending on the Lender and how many loans are on the property we expect it take anywhere from 60-120 days.
Can I Short Sale my Investment Property? Yes. We have sold many
Short Sale Investment Properties. Investment Properties are about 30% of all our sold short sale properties and the percentage is increasing. Many
landlords have exhausted all their savings on negative cash flow investment properties. The deficiency laws in California
also apply to investment properties from condos and single family homes to multi-family units of 2-4 units. Taxes on deficiencies are quite a bit trickier on investment properties. If you have lived in one or more of the units 2 out of the last 5 years
you may be able to claim it as a primary residence for tax deficiency purposes. Consult your accountant for clarification.
Please call us to find out more information. John and Mike (818) 424-8340. Selling a Short Sale Investment Property is a complicated
procedure and should only be done by an Experienced Short Sale Agent. Even if you own a Multi-Family with 5+ Units a Short
Sale can be done. Banks, now more than ever, are willing to negotiate. What is The Affect of a Short Sale on My Credit? The credit consequences of a short sale vary slightly. Clients have informed us that a short sale will show up on your credit report as a 'settlement', 'settlement for less than owed' or a "pre-foreclosure in redemption". A short sale credit score can drop by 50-100 points. There is no way to predict
exactly how a short sale is going to affect your credit for it. We've
had some clients who have mentioned that they’ve been able to rebuild their post short
sale credit score in as little as 12 months. Other people who have not maitained their credit with other items,
well, it’s probably going to take a little bit longer in order to rebuild their credit Can a Short Sale Stop Foreclosure? YES, It can stop a Foreclosure
Sale. But Technically it is a Postponement of The Foreclosure Process. The lendor/investor will postpone
the Foreclosure Sale and re-schedule a later date. Until the lender sees action on the Proprty owners such as: the listing
of the home, timely receipt of required documents, and a reasonable offer on the property, will the lender actually consider
not re-scheduling a Trustee Sale Date. The foreclosing party—in most cases a lender—can postpone a foreclosure
up to the final day of the process. Today, many lenders will stall a foreclosure with as little as a phone call from you explaining
that you are trying to sell, and almost all lenders will stall a foreclosure with a legitimate contract. For real estate professionals
who understand foreclosures and short sales, there is time available until the foreclosure process is complete. Short Sale vs Foreclosure Foreclosure is The Absolute Worst Option a Homeowner can choose. A Foreclosure can Damage your Credit for up to 10 years, and can lower
your Credit Score up to 250 points. Your are continuously hassled by phone calls, letters, and door knockers
with Notices of Default and Notices of Sale. Eventually there is a day of Reckoning. The
Sheriffs show up to your door and you and your family are Evicted from your own home in plain sight of the entire neighborhood.
A Short Sale typically
Costs you Nothing, you get to stay in your home during the short sale process, and most the time the Bank / Lender
will offer Cash Move-Out Assistance for your cooperation. You Sell your home with your acceptance, under
your terms. The Home is Marketed by us like a Standard Sale and you get to leave your home and Neighborhood with Dignity.
Short Sale vs Loan Modification It Depends. The Facts show that only 10% of Loan Modifications get Approved by their Lenders and of the 10% approved, Homeowners were not happy with the small amount of change in their payments. But if your lender lowers your payment significantly, you are happy with your home, future maintenance & repair costs are affordable, and you feel that the home will appreciate back to it's loan balance then a loan modification is a good option for you. However, The great majority of homeowners are now opting to Short Sale their home for the following reasons:
Short Sale vs Bankruptcy It Depends. This is usually called The Option of Last Resort. As far as your Home is concerned a Bankruptcy usually just delays the inevitable. But it may be a good option depending on your financal condition and willingness to damage your credit for up to 7 years. A Bankruptcy typically also costs thousands of dollars to initiate. Chapter 13 bankruptcy lets you pay off the late or unpaid payments over the length of a repayment plan you propose 3-5 years in some cases. But you'll need enough income to at least meet your current mortgage payment at the same time you're paying off the late or unpaid payments. (Avg Cost $2500 plus Court Costs...Up to a Total of $5000) Chapter 7 bankruptcy will stall the foreclosure sale and give you two or three more months to work things out with your lender. Chapter 7 bankruptcy gets rid of your personal liability under the promissory note, but it doesn't remove the lien. Chapter 7 gets rid of debt but not liens--you'll still probably have to give up the house under the lien since that's what provided collateral for the loan. Your income cannot exceed $86,000 annually. (Avg Cost $2500 plus Court Costs...Up to a Total of $5000) A study done by the American Bar Association indicated that 96 percent of the people who filed for bankruptcy protection ended up in foreclosure anyway. Many people feel that bankruptcy will stop foreclosure and save their home. However, because it entails that you continue to pay your mortgage (Chapter 7) or that you consolidate all of your debt while still paying your mortgage (Chapter 13) it is usually not a long term solution. With a Short Sale their are NO Costs to initiate and typically No Cash out of pocket costs. A Short Sale damages your credit score less and takes a lot shorter time to rebuild your credit from 1 - 2 years. But a Short Sale will not relieve other financial debts. Can I Short Sale after Bankruptcy? Yes. As a matter of fact thta's what most homeowners
and property owners do. We have many client's that opt to Short Sale home after bankruptcy. Should I Short Sale after Bankruptcy? It Depends. If it is still very hard to keep your head above
water and you owe more than the property is worth, it is probably a good option for you. Contact us to get Free Advice on
what options are best for you (818) 424-8340 or by contact form provided on this page. What are The Costs
to Short Sale My Home? ALL our Services to you are FREE. The Lender pays our Commissions. We have
Successfully Negotiated No Closing Closts for All of our previous Short Sale clients and don't expect that to change with
any of our future clients. All of our Clients have Walked Away from their Short Sale FREE and CLEAR
and the majority have walked away with NO CASH out of Pocket! How Does a Foreclosure Affect my Credit Score? A Foreclosure on
your credit report can take 7-10 years to remove and can cost your credit rating
(FICO) up to 200-280 points which is a very big hit. My Payments are Current. Can I Short Sale? YES. Today's lenders are looking for
verifiable hardship, monthly cash flow shortfall, or pending shortfall or insolvency. Many of our clients
have had their Short Sale Home closed while they were current on their payments. They were one step ahead of the pack. Do our Neighbors have to know our Home is a Short Sale? NO. We do our best to respect your confidentiality and privacy. Our Sign will be displayed in the same exact way our Standard Sale signs are. Our Marketing to the general public Will Not indicate anywhere that your home is a Short Sale. However, the one place we are obligated to designate your home as a Short Sale is our MLS. Only other Real Estate Agents should have access to this information. It is understandable to have reservations about letting the world know that you owe more on your home than it is worth. However, according to recent estimates, more than one out of eight homeowners in the U.S. is in the same situation. You are to be congratulated for admitting you need help, taking action, and finding a professional who can work with you toward a solution. With recent estimates showing 40-60% of U.S. sales will be short sales or foreclosures, you are not alon I've Decided I Need to Short Sale My Home. Now What? Contact us for a FREE Consultation. Either Call John & Mike at (818) 424-8340 or fill out contact form
provided on this page. The Consultation is Free, All our Services are Free (The Lender Pays us), we do all the negotiations
for you with only you best interests in mind, and you can rest assured that you have a Short Sale Realtor working for you that will deliver a smooth, hassle free process. About Us. I have Two or More Loans. Can I Short Sale My Home? YES.
This is very common in California Short Sales. We commonly work with more than one lender and get them to cooperate to put
together a smooth Short Sale Transaction. Contact us for a FREE Consultation. Either Call John & Mike (818) 424-8340 or
fill out contact the form provided on this page. The Consultation is Free, All our Services are Free (The Lender Pays us),
we do all the negotiations for you with only you best interests in mind, and you can rest assured that you have a Certified Short Sale Specialist working for you that will deliver a smooth, hassle free process.
My Property is in Rough Shape. Can I Short
Sale My Home? YES. In fact, lenders are more motivated to do a Short Sale on Home that is in need of repair, than ones that are not. Contact us for a FREE Consultation. Either Call John & Mike (818) 424-8340 or fill out contact the form provided on this page. The Consultation is Free, All our Services are Free (The Lender Pays us), we do all the negotiations for you with only you best interests in mind, and you can rest assured that you have Certified Short Sale Experts working for you that will deliver a smooth, hassle free process. *The information presented in this website
is for informational purposes only and should not be construed to be formal advice. Please consult a tax accountant and attorney
before making any decisions regarding your house, legal advice, financial advice, or it's tax implications. Short Sale News - SB458 Signed into Law LOS ANGELES (July 15) – The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) announces the signing of SB 458 (Corbett) into law. SB 458 extends the protections of SB 931 (2010), to ensure that any lender that agrees to a short sale must accept the agreed upon short sale payment as payment in full of the outstanding balance of all loans. Under previous law, a first mortgage holder could accept an agreed-upon short sale payment as full payment for the outstanding balance of the loan, but unfortunately, the rule did not apply to junior lien holders. SB 458 extends the protections of SB 931 to junior liens. “The signing of this bill is a victory for California homeowners who have been forced to short sell their home only to find that the lender will pursue them after the short sale closes, and demand an additional payment to subsidize the difference,” said C.A.R. President Beth L. Peerce. “SB 458 brings closure and certainty to the short sale process and ensures that once a lender has agreed to accept a short sale payment on a property, all lien holders – those in first position and in junior positions – will consider the outstanding balance as paid in full and the homeowner will not be held responsible for any additional payments on the property.” The CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with
nearly 160,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los
Angeles. Short Sale Certifications and Licenses Include:
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What Lender Short Sale Depts. do
we work with? Certified, Licensed, and Approved to Short Sale Bank of America, Aurora, Chase, CitiMortgage, Credit Unions (Many), GMAC, Green Tree, ING, NationStar, PNC, SunTrust, Wachovia, WaMu, and Wells Fargo Short Sale Homes. We have Successfully Closed Short Sales
with the following Lenders:
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Rick and Raleigh, Sherman Oaks, CA -------------------------------------------------------------------------------- "We Only use John & Mike to Buy or Sell our Short Sale
Homes! They are True Pros and Negotiate Hard for All our Interests. They have our back big time!" -------------------------------------------------------------------------------- "Our Sherwood Forest Home Sold with Multiple Offers in Only
Two Weeks! John and Mike even handled objections by the appraiser without any concessions!" -------------------------------------------------------------------------------- "I needed real Pros to sell my upside down home that was already
listed with no avail. John and Mike even handled a tough situation with my tenants during the Short Sale Process! John and
Mike got the job done...smoothly!" -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- "My Fiance and I were FHA approved and couldn't get any of
our offers accepted. Then we met John and Mike and things changed! We got our great Short Sale home in Noho thanks to John
and Mike." -------------------------------------------------------------------------------- "We nick-named John and Mike- Lightning and Thunder! They
handled our buying experience in a professional and prompt manner, when others couldn't get it done!" -------------------------------------------------------------------------------- "John and Mike were Great! It took time to find the right place for the right price and they stuck with me the whole way!" - Jeremy C., Tujunga, CA -------------------------------------------------------------------------------- "I have recently started investing in properties, John
and Mike walked me through the short sale process and landed me some great properties in Pasadena and West Covina. I'm going
to keep coming back for more with John and Mike!" See More Short Sale Reviews and Testimonials
Short Sale Experience. Short Sale Certified, Approved, and Licensed. Recognized as one of the top Short Sale and Foreclosure Prevention Teams in the nation, John & Mike have been asked to speak at many short sale symposiums and short sale forums! We have successfully listed and Short Sold properties with the following Lenders; Bank of America Short Sale Department, Chase Short Sale, CitiBank, GMAC, NationStar Short Sale Department, PNC Short Sale, Wachovia, and Wells Fargo. CERTIFIED PROFESSIONAL ADVICE EXPERIENCED KNOWLEDGEABLE CONFIDENTIALITY CARING * We are obligated to designate your home as a short sale in our MLS for only other agent's eyes. - No Obligation FREE Consultation. John & Mike, (818) 424-8340; info@JohnSandMikeV.com
FEATURED AGENTS: John Scillitani and Mike Villella , Backed by the substantial resources and support of The Keller Williams Short Sale Division, are proud to offer an exceptional level of service, knowledge, and integrity impossible to find elsewhere. Client service and satisfaction are the underpinnings of their business. They Specialize in Short Sales, and Helping people get out of their Under Water Homes and Avoid Foreclosure. They are Officially recognized as Preferred Short Sale Agents for Bank of America, Chase, Citi Bank, GMAC, Wachovia, World Savings, and Wells Fargo Banks.  John Scillitani and Mike Villella are CA Licensed, Listing Agents, Certified Short Sale Agents, Certified REO Agents, and Buyers Agents. They are Award Winning Keller Williams Top
Producers and are Five star rated in client satisfaction. John Scillitani,
CDPE, SFR, Broker Associate, is a Graduate of Rutgers University
with Dual Bachelors Degrees in Industrial Engineering and Economics. Licensed since 2002, His experience ranges from Being
an Automotive General Manager to the Real Estate Business with both The Luxury Market and First Time Buyers. He has extensive
Knowledge in with Bankowned Homes. Mike Villella, CDPE, SFR, Realtor, worked as a general contractor working on various projects throughout the city, purchasing, rehabilitating, and re-selling homes after the Northridge earthquake. That catapulted Mike into Real Estate sales. As a Realtor, Mike continued to grow due to the fact that he was going to foreclosures sales and working with numerous investors. His vast knowledge of the Los Angeles basin from the Pacific Ocean to Orange County is considerable and quickly turned him into a successful veteran of the industry! Specialties: 1) Listing Agent, CA Licensed Realtors 2) Short Sale Agents, Certified by CA Association of Realtors 3) Buyers Agent, CA Licensed Realtors 4) First Time Buyers, CA Licensed Realtors 5) REO - Bank Owned Homes Certifications & Awards: 1) Certified Short Sale Agents,
CA Association of Realtors 2) Company Wide Top Producers 3) Five Star Agents for Client Satisfaction 4) Licensed California Real Estate Broker 5) Certified Distressed Property Experts 6) Trulia "Pros" 7) Zillow.com All-Stars 8) Licensed California REALTORS John Scillitani and Mike Villella Short Sale REALTORS for Keller Williams, World Media Center 818-424-8340 E-mail: Info@JohnSandMikeV.com
Real
Estate Agents with The CDPE, Certified Distressed
Property Expert Designation have trained extensively to understand the solutions, and effective methods for dealing with
homeowners facing the hardship of foreclosure. Don't risk your financial future and the potential sale of your home with an
agent who does not have the training, experience, or tools to best help your needs, Contact Us with
Form Above or Call 818-424-8340
for prompt and caring assistance.
SFR Don’t Go It Alone
— Choose an SFR Trained Professional In conclusion, Agents with the CDPE and SFR Designations have been trained in all aspects of the distressed property / short sale process, and know how to deal with the parties involved in foreclosures. Finding a CDPE can explain what options you have, and get you on the path to recovery. Call our Team Leads John Scillitani, Broker Associate, CDPE, SFR, and Mike Villella, Realtor Associate, CDPE, SFR, Direct at 818-424-8340 for Free Advice. Certified Distressed Property Experts fully understand that selling your house, can save your family life, and save your future buying ability. What is a Short Sale in Real Estate ? Short Sale in Real Estate Definition Tax Consequences of a Short Sale Sellers: If you
are not sure if you are upside down in your house, and would like a FREE Market Evaluation from Certified Short Sale Realtors. Please Call us at 818-424-8340
or Fill Out Form and provide us with Home, Name, and Contact Information and we will have Evaluation Ready as soon as possible. Short Selling a home successfully requires experience, time and resources. Selling your home can be a daunting task. We work hard so our clients can enjoy having their homes sold worry-free. Working with a Keller Williams Real Estate Agent ensures that your transactions will be handled professionally – which is why it makes sense to talk to us before you buy or sell! Please
Call us for a NO CHARGE, Confidential Consultation, and if you Qualify for a Short Sale,
Selling Expenses, Move Out Expense, and our Services in most cases, will be paid for by the Bank! Please
Do Not Pay for any Services that may be available to you at NO CHARGE! Why will a Strategic Short Sale Work? Banks do not want to foreclose on your property because the foreclosure process is incredibly costly. Bank of America, CountryWide, Wells Fargo, Wachovia, Washington Mutual, and even the federal government have all publicly stated that if a person is qualified for a short sale, the process needs to be considered. Overwhelmingly, banks receive more on their investment through a short sale than a foreclosure. Short Sale Information - Miscellaneous Another good side to doing a short sale in regards to your credit is this: if you’ve gone behind your payments
and you feel the road you’re going down now would ultimately lead to a foreclosure, well, as it stands right now, if
you have a foreclosure on your record, then you would not be able to buy or purchase with a loan backed by Fannie Mae for a period of seven years.
Licensed and Certified
Short Sale Agents / Real Estate Agents / Realtors Serving All of Los Angeles County and The Surrounding Areas; including The San Fernando Valley, The San Gabriel Valley, and Downtown Los Angeles. Serving
in the following areas: Alhambra, Arcadia, Arleta, Atwater, Azusa, Baldwin Park, Bellflower, Beverly Hills, Boyle Heights Real Estate,
Burbank, Canoga Park, Calabasas, Claremont, Covina, Culver City, Downey,
Duarte, Eagle Rock, Echo Park, El Monte, El Sereno, Glassell Park, Glendale, Glendora, Hermosa Beach, La Canada Flintridge, La Crescenta, La Crescenta-Montrose, La Puente, Lancaster, Los Angeles, Lynwood, Malibu, Manhattan Beach, Monrovia, Montebello, Monterey Park, North Hills, North Hollywood, Northridge, Norwalk, Palmdale, Palos Verdes, Panorama City, Pasadena, Pico Rivera, Porter Ranch, Rancho Palos Verdes, Redondo Beach, San Dimas, San Fernando, San Marino, Santa Clarita, Santa Fe Springs, Santa Monica,
Shadow Hills, Sherman Oaks, Sierra Madre, Silver Lake, South El Monte, South Gate, South Pasadena, Studio City, Sun Valley, Sunland, Sylmar, Temple City, Tujunga, Valley Glen, Valley Village, Van Nuys, West Covina, West Hollywood, Westlake Village, Whittier and Woodland Hills. |
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TERMS OF SERVICE PRIVACY POLICY CONTACT POLICY
Copyright© 2009-2012 John Scillitani and Mike Villella, All Rights Reserved.