Elizabeth Weintraub • Sacramento Short Sale Agent • Land Park

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Is There Hope for a Sacramento Home Buyer to Buy a Short Sale With a VA Loan?

VA buyers get the short end of the stick in Sacramento. That's the dirty little truth that nobody wants to talk about. When it comes to the hierarchy of lending and types of mortgages, VA loans fall to the bottom of the pile. You've got your cash buyers on top, followed by conventional, with FHA loans ranking third in priority. VA is squished on the bottom.

There's a bit of hypocrisy going on there, too. People running around with Support Our Troops stickers slapped on the back of their fat-ass SUVs, but when it comes to accepting an offer from a VA buyer, these same people thumb their noses at our veterans. They are NOT taking no stinkin' VA offer if they don't have to.

Well, you know what? You VA buyers? You come over here and see me. I've got a boat-load of short sales in Sacramento that you can buy. I work with sellers who want to sell to you. I know how to close a short sale for a VA buyer with a VA loan. I'm a good Sacramento short sale agent who knows how to get things done.

Of course, you've got to realize that a short sale is sold in its "as is" condition. This means the seller will do no repairs. Banks won't pay for repairs. If there are funding conditions, you'll need to handle them with your agent. However, we are resourceful and committed to making the transaction work just as much as you are.

If you want to buy a short sale in Sacramento and utilize your VA eligibility for financing, ask your agent to give Elizabeth Weintraub a jingle at 916 233 6759.

sacramento short sale agentcerfified hafa specialist

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Certified HAFA Specialistelizabeth weintraub

 

equator certified platinum reo elizabeth weintraub

Elizabeth Weintraub reviews My Sacramento Real Estate Listings

Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.

The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.

Lyon Real Estate is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.

The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.

Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

 

Who is Writing FHA Refinances at 90% of Appraised Value?

fha refinance to 90%I realize the law giving homeowners the right to apply, if they are qualified, for an FHA refinance at 90% of appraised value -- today's value -- went into effect on October 1, but who is funding those programs? That's what I would like to know.

I checked with my Sacramento class A FHA mortgage company today (Vitek Mortgage), and none of its investors are willing to make these loans. I'm dumbfounded.

What good is the new legislation, HOPE for Homeowners FHA refinance, if no lenders are willing to make the loans? What gives?

I realize the law just went into effect a mere 9 days ago, but still. Shouldn't local lenders be willing to take on this type of financing that is insured by the US Government? Or has everybody gone wonky on us? This sounds like some sort of joke to me. Tell me this is not true.  Does anybody have loan applications in process that appear to be solid?

I've also heard that the banks, the existing mortgage holders, will report to credit bureaus the deficiency. Why would a borrower take out an FHA refinance, give 50% or so to FHA on future appreciation, and get hit with a ding on top of it, when a borrower could just walk away on a short sale and buy a cheaper home two years later? Please explain. Something does not make sense to me.

elizabeth weintraub sacramento real estate agent in land park

Photo: Big Stock Photo

sacramento short sale agentcerfified hafa specialist

---

Certified HAFA Specialistelizabeth weintraub

 

equator certified platinum reo elizabeth weintraub

Elizabeth Weintraub reviews My Sacramento Real Estate Listings

Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.

The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.

Lyon Real Estate is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.

The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.

Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.