Tami Saner's Blog

6 offers in 2 days on the market….How does an agent decide which offer is best for their clients? 1st Offer FHA & the agent didn’t know how to write the offer (TIP FHA is not 100% Financing) so that ones out...5 more to go,  3 of them all cash at least 25,000 over asking, that’s Insane! (TIP reme...

HAMP ANNOUNCES INCREASED PRINCIPAL REDUCTIONS FOR LOAN MODIFICATIONS   As reported in DSNews.com, government officials have announced changes to the administration’s Home Affordable Modification Program (HAMP) which are expected to extend relief to a larger share of struggling homeowners as well ...

Laws Protecting Tenants’ Rights With Respect to Foreclosed Properties   As recently as early 2008, in the absence of a written lease agreement requiring greater notice, California law required that an owner provide only a 30-day notice to a tenant to vacate the property for any reason (other than...

How Are Short Sales Reported To The Credit Bureaus? FICO does not differentiate between a foreclosure and a short sale. Further complicating matters, lenders don’t have a uniform standard as to how they report a short sale to the credit bureaus. Some lenders report short sales as “settled as agre...

How to Maximize Your Credit Score during a Short Sale or Foreclosure Since the number of delinquent accounts is factored into the score, try not to let any other accounts become late or delinquent (if possible).The second largest factor of your credit score is your debt ratio (the limit of your c...

What Renters and Resident Owners Can Do to Protect Themselves   Tenants and resident owners of foreclosed properties must take a significant amount of personal responsibility in this matter. They should become acquainted with federal and State law concerning foreclosures and tenant evictions, and...

What Is A Credit Score? A credit score is the statistical prediction of one’s likelihood to pay late over the next two years.The higher the score, the less likely one is to have a late payment.The bank then uses this number to assess the amount of risk involved with lending someone money.Banks ar...

Your Guide to “CASH FOR KEYS”     Neighbors losing their homes have heard all kinds of rumors related to ‘cash for keys’ but much of it is based on just that, rumors. The California Department of Real Estate (”DRE”) has put together an informative article for foreclosed owners, tenants, and agent...

WILL YOUR LENDER PAY YOU TO SHORT SALE YOUR HOME? WILL YOUR LENDER PAY YOU TO SHORT SALE YOUR HOME?   As reported in DSNews.com, a Massachusetts real estate company, McGeough LaMachia Realtors, conducted a nationwide study which indicated that short sales bring a 24% greater return to lenders tha...