Our First Response Team Is Here For You. New programs are being implemented Now! Advocate that is specially trained to help you sell your home for short of what is owed. Stop Foreclosure and stay in your home longer at no cost to you.  Hardship comes in many different forms.. Divorce, loss of income, untimely death and oh by the way HOME WORTH LESS THAN OWED. Our goal is to help you find the best solution whether that is a modification, short sale or died in lieu…

Goal:  Avoiding Foreclosure

The following are the steps that you as a homeowner can anticipate in the short sale process.  This is a general outline of how the process occurs, however please note that lien holders can change the order of some of the steps.  Detailed below is the process our team uses to process a short sale.  For a brief overview please see. www.homeswithjosh.com and look under Short Sales or Call 1-800-290-1076 Ext#3000

Pre-Listing

1.
Please contact Josh’s office for a brief consultation about short sales.  Josh or one of his team members will collect some basic information about your situation.
2.
A tentative appointment will be scheduled to answer questions and/or list the home for sale in the short sale process.
3.
Josh and his team will prepare a short sale packet which will be sent to you either via FEDEX, regular mail or email.  We provide a thorough packet of information in advance of the appointment so you have the opportunity to evaluate our process and have your questions answered in advance.  If what we send you and what we discuss prior to the appointment makes sense and you feel comfortable and confident to go forward with the short sale process, our appointment will be confirmed. The packet will include:
*
Information about the short sale process.
*
Market data on the value of your home in today’s market.
*
Recommended short sale pricing.
*
Listing contract and related forms.
*
Property detail report from the county assessor’s office.
4.
The appointment.  Josh will either come to your house to receive the documents or they can be returned via fax or email. We can do listing appointments via telephone or email if necessary.
5.
Once we receive a signed listing agreement we will begin the short sale process.
6.
An authorization form will be submitted to your lien holder(s) enabling us to speak to them on your behalf.  Unless previously provided, the lien holder(s) will provide their short sale requirements when the authorization is received.

Marketing

1.
Your home will be listed immediately on the Multiple Listing Service.
2.
We will market your home through various affiliated web sites and all other applicable marketing strategies.
3.
During the marketing period we will receive offers and present them to you as they are received.
*
Offers will be presented to you on an offers spread sheet.
*
You will be able to see the net offers as they come in.  We highlight, in yellow, the current highest net offer.
*
You will sign the purchase offer of your choosing.  We will advise you as to what appears to be the strongest offer.  We will encourage you to consider two important factors; price and the willingness of the buyer to wait for the short sale process to complete rather than back out in the middle of the process.
4.
You will select and sign the offer that is most likely to meet the lien holder(s) criteria for a short pay off of your loan.

Short Sale Processing

1.
After you select an offer it will be signed by you and presented to your lien holder(s).  This is the official beginning of the short sale processing phase.
2.
You can track your short sale offer, as it is processed, online at Short Sale Status.
3.
The offer and all documentation required by the lien holder(s) is submitted by our office to the lien holder(s).
4.
Documents go through a processing period and are assigned to a negotiator.  The lien holder(s) assign a negotiator to your file.  The negotiator will ultimately make the final decision about your case.  The negotiator will review your offer and present the offer to any investors into your loan.
5.
A BPO (Broker’s Price Opinion) or appraisal will be ordered by the negotiator.  This BPO is used to determine the value of your home and whether or not the net proceeds of the offer are sufficient to satisfy the investors and thus provide a short pay off of the loan(s).
6.
The negotiator will evaluate your financial situation to determine whether or not you qualify for a short sale.  The offer will be presented to the investors who are invested into your loan.  They will decide if your short sale is approved or not.
7.
The negotiator will report the response of the investors.  There will be one of three options:  Short Sale Approval, Short Sale Approval with Conditions or Denial.  If any other answer then Short Sale Approval is provided we will negotiate further on your behalf.
8.
After all negotiations are complete you will either accept or reject the terms of the short sale.
9.
Written short sale notification is delivered to the buyer’s agent and Escrow begins.

Escrow

1.
Escrows in short sales generally follow the same process as a regular escrow.  One difference is that the short sale approval has a “good through” date by which time the short sale must be finalized and escrow must be closed.
2. When escrow begins you will need to make plans to be moved out of the house by the close of escrow.

Josh Groesbeck

208-353-7131 or josh@homeswithjosh.com

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If you are currently working with an Idaho loan modification plan we hope that everything works out. If your loan modification is not working or perhaps you are upside down in your Idaho home (mortgage) please seek professional help. Josh is a trained Sh0rt Sale negotiator located right here in the Treasure Valley. Please review the HAFA rules and incentives from Making Home Affordable website. For answers and help with your home call Josh 208-353-7131 or josh@homeswithjosh.com

If you are looking for help selling your home and avoiding foreclosure, the federal government has introduced the
Home Affordable Foreclosure Alternatives (HAFA) Program to help you. As your mortgage servicer, we are
offering you the opportunity to participate in this program by utilizing HAFA’s short sale option.
Home Affordable Foreclosure Alternatives Program – Short Sale
A “short sale” is specifically designed to help borrowers who are unable to afford their first mortgage and want to
sell their home to avoid foreclosure, even if the sale price may not pay off the amount owed on their mortgage. A
short sale requires a number of parties (you, the buyer, your real estate broker, and sometimes mortgage
insurance companies and other lenders) to work together to make this option successful. However, it could be a
good solution for your current situation.
How Does a Short Sale Work?
 Pre‐Sale—We will start by approving a list price for your home or give you the acceptable sale proceeds (the
minimum amount that we must receive after sales costs) from the sale of your home. We will also identify the
sales costs (broker commissions and closing costs) that may be deducted from the final sales price. You then
list your property (like any home sale) with a local real estate broker at the approved price.
 Offer—When you get an offer on your home, you will submit the required documentation and we will approve
the sale if it is in line with what we agreed to.
 Closing—Once the sale closes, we will release you from all responsibilities for repaying your mortgage. Plus,
you will receive $3,000 to help pay some of your moving expenses. (The check will be paid to you by the
settlement agent as part of the closing.) In the event there is any money left over from the sale after paying
the entire amount you owe on the mortgage plus the approved sale costs, you will not be eligible to receive
the $3,000.
To Participate in the Short Sale Program
Please note, there is no guarantee that your home will sell under this program, and you are responsible for
determining whether you want to sell your home for the price and terms described in this letter. The following
pages detail your responsibilities, additional information on the short sale process and the Terms and Conditions.
Additionally, this letter constitutes an agreement between us and you (“Agreement”) so please read it carefully
and completely.

Source:Making Home Affordable

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This is an outline for Bank Of America new HPO (high performance) short sale program. If you are have a B of A loan and have been turned down for or loan modification has not worked please don’t waste anytime and call Josh 208-353-7131 or josh@homeswithjosh.com for your free confidential housing consultation. Look at the new rules below as they are pretty clear. 100% Trained in Short Sales and getting them closed. First Response Team

* Every short sale seller and agent will be assigned a personal advocate who will shepherd the short sale through, using the new, simple process.  Think of this as your own ‘short sale personal representative’.

* No pre-qualifying, no hardship required.  Being upside down in the house IS the hardship.

* No documentation.

* No bank statements.

* No tax returns.

* No financial worksheets.

* No deficiency judgement.

* No financial contribution from the seller of any kind will be requested.

* Only requirements?  -A listing contract -A purchase contract -An appraisal, though we’ve been told the appraisal will not have an adverse bearing on the final acceptance.

* 2 WEEK approvals.

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Goal:  Avoiding Foreclosure

The following are the steps that you as a homeowner can anticipate in the short sale process.  This is a general outline of how the process occurs, however please note that lien holders can change the order of some of the steps.  Detailed below is the process our team uses to process a short sale.  For a brief overview please see. www.homeswithjosh.com and look under Short Sales

Pre-Listing

1.
Please contact Josh’s office for a brief consultation about short sales.  Josh or one of his team members will collect some basic information about your situation.
2.
A tentative appointment will be scheduled to answer questions and/or list the home for sale in the short sale process.
3.
Josh and his team will prepare a short sale packet which will be sent to you either via FEDEX, regular mail or email.  We provide a thorough packet of information in advance of the appointment so you have the opportunity to evaluate our process and have your questions answered in advance.  If what we send you and what we discuss prior to the appointment makes sense and you feel comfortable and confident to go forward with the short sale process, our appointment will be confirmed. The packet will include:
*
Information about the short sale process.
*
Market data on the value of your home in today’s market.
*
Recommended short sale pricing.
*
Listing contract and related forms.
*
Property detail report from the county assessor’s office.
4.
The appointment.  Josh will either come to your house to receive the documents or they can be returned via fax or email. We can do listing appointments via telephone or email if necessary.
5.
Once we receive a signed listing agreement we will begin the short sale process.
6.
An authorization form will be submitted to your lien holder(s) enabling us to speak to them on your behalf.  Unless previously provided, the lien holder(s) will provide their short sale requirements when the authorization is received.

Marketing

1.
Your home will be listed immediately on the Multiple Listing Service.
2.
We will market your home through various affiliated web sites and all other applicable marketing strategies.
3.
During the marketing period we will receive offers and present them to you as they are received.
*
Offers will be presented to you on an offers spread sheet.
*
You will be able to see the net offers as they come in.  We highlight, in yellow, the current highest net offer.
*
You will sign the purchase offer of your choosing.  We will advise you as to what appears to be the strongest offer.  We will encourage you to consider two important factors; price and the willingness of the buyer to wait for the short sale process to complete rather than back out in the middle of the process.
4.
You will select and sign the offer that is most likely to meet the lien holder(s) criteria for a short pay off of your loan.

Short Sale Processing

1.
After you select an offer it will be signed by you and presented to your lien holder(s).  This is the official beginning of the short sale processing phase.
2.
You can track your short sale offer, as it is processed, online at Short Sale Status.
3.
The offer and all documentation required by the lien holder(s) is submitted by our office to the lien holder(s).
4.
Documents go through a processing period and are assigned to a negotiator.  The lien holder(s) assign a negotiator to your file.  The negotiator will ultimately make the final decision about your case.  The negotiator will review your offer and present the offer to any investors into your loan.
5.
A BPO (Broker’s Price Opinion) or appraisal will be ordered by the negotiator.  This BPO is used to determine the value of your home and whether or not the net proceeds of the offer are sufficient to satisfy the investors and thus provide a short pay off of the loan(s).
6.
The negotiator will evaluate your financial situation to determine whether or not you qualify for a short sale.  The offer will be presented to the investors who are invested into your loan.  They will decide if your short sale is approved or not.
7.
The negotiator will report the response of the investors.  There will be one of three options:  Short Sale Approval, Short Sale Approval with Conditions or Denial.  If any other answer then Short Sale Approval is provided we will negotiate further on your behalf.
8.
After all negotiations are complete you will either accept or reject the terms of the short sale.
9.
Written short sale notification is delivered to the buyer’s agent and Escrow begins.

Escrow

1.
Escrows in short sales generally follow the same process as a regular escrow.  One difference is that the short sale approval has a “good through” date by which time the short sale must be finalized and escrow must be closed.
2. When escrow begins you will need to make plans to be moved out of the house by the close of escrow.

Josh Groesbeck

208-353-7131 or josh@homeswithjosh.com

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Facts for the Idaho homeowners who are working towards a loan modification. Best case scenario is getting your payment lowered to no more than 31% of your gross income. IF your loan modification is not getting worked out do the next best thing and call Josh Groesbeck and you can stay in your home until it is sold while charging you nothing. Specially trained in the art of a Short Sale I can help you qualify for money back from the bank to you for your relocation. With the economic hardships and homes that are entirely upside down (worth less than is owed) it’s no surprise that well over 50% of american homeowners are choosing to Short Sale their homes and start fresh. More great information at WWW.HOMESWITHJOSH.COM or WWW.IDSHORTSALE.COM

Joshua Groesbeck      208-353-7131  or josh@homeswithjosh.com

About 91,000 borrowers dropped out of the program in June, putting the total number of dropouts at 530,000.

At the same time, about 49,000 borrowers received a permanent modification in June, bringing the number of total active permanent modifications to 389,000.

That means more than 40 percent of the roughly 1.3 million borrowers who have started in the program since its March 2009 inception have since dropped out, while just over 30 percent have received permanent new terms for their loan.

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820 Loggers Pass in the wonderful Glacier Springs community is another Idaho short sale that we have been approved to sell. Neighborhood is located in prime meridian, Idaho location that provides easy access to interstate 84. Meridian, Idaho is right in the heart of the treasure valley, quickly becoming one Idaho’s most popular places to settle down. Live the country life and be within minutes of downtown what more could you ask for?

If you are currently looking to buy or sell real estate please don’t hesitate to call or email for proven customer service and the ability to get the job done. Also if you are one of the many families struggling to keep up with your house payment or are already in foreclosure we can help. Full-time Realtors with staff to handle all cases. Joshua Groesbeck 208-353-7131 or josh@homeswithjosh.com or www.homeswithjosh.com and www.idshortsale.com

LOADED WITH AMENITIES! Gracefully designed floor plan containing a plethora of granite, tile & hardwood throughout. Enormous bonus room, jack and jill bathroom, 9’ ceilings, tons of storage & a luxurious kitchen overlooking the main level living area w/fireplace. Stunning master suite highlighted with gas fireplace, his and her closets, dual vanities, jetted tub & a tiled walk-in shower w/3 heads. Oversized covered back patio (plumbed for gas), professional landscaping, oversized garage & 2×6 construction. Mls#98434697

Source: Intermountain Mulitple Listing Service and Trust Realty

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The Home Affordable Unemployment Program (HAUP) begins today. It is designed to provide relief to unemployed homeowners. HAUP (referred to as “UP”), “offers eligible unemployed borrowers a forbearance plan to temporarily reduce or suspend their mortgage payments.”

By August 1, 2010, all servicers who are participating in Making Home Affordable will be helping homeowners who are struggling to stay current because of unemployment.

Here are the details:

Forbearance Plan Eligibility:

A borrower must meet the Home Affordable Modification Program (HAMP) eligibility criteria as well as:

• be unemployed when request is made;
• be entitled to receive unemployment benefits in the month of the UP forbearance plan effective date (servicers have discretion to require a borrower to have received unemployment benefits for up to three months before commencement of the forbearance plan); and
• request an UP forbearance plan before they become seriously delinquent (i.e., miss three monthly mortgage payments).

Forbearance Plan Evaluation:

Servicers must follow these requirements when evaluating a borrower for an UP forbearance plan:

• Unemployed borrowers who request assistance for HAMP must first be evaluated for an UP forbearance plan. If they qualify, they must be offered an UP forbearance plan before they can be considered for HAMP.
• Borrowers currently in a HAMP trial period plan who become unemployed may receive an UP forbearance plan if they have missed less than three monthly payments as of the first payment due date of the HAMP trial period plan. If they do qualify, their existing HAMP trial period plan must be cancelled and the UP forbearance plan must immediately begin without waiting until the borrower has received three months of unemployment benefits.
• Borrowers previously determined to be ineligible for a HAMP modification may request an UP forbearance plan if they meet the eligibility requirements.
• Borrowers in a permanent HAMP modification who become unemployed are not eligible for an UP forbearance plan.

Forbearance Plan Terms

• Term must be three months or upon reemployment (whichever is less). Servicers may extend this period according to their investor/regulatory guidelines.
• Monthly mortgage payment must be reduced to less than or equal to 31% of the borrower’s gross monthly household income and may be suspended in full.

Transition to HAMP

• Borrowers in an UP forbearance plan will be evaluated for HAMP at either reemployment or 30 days prior to the UP forbearance period expiring (whichever happens first).

Source: HSH

If you are experiencing problems making you house payment or see that foreclosure is possible we can help!

Joshua Groesbeck

208-353-7131 or josh@homeswithjosh.com

www.homeswithjosh.com and www.idshortsale.com

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Canyon county has 651 short sale homes that are currently active on the market to be sold- So far this year 281 properties have been sold via short sale and there are currently 66 that are shown as pending final funding and recording. These numbers are starting from January  through June 2010.

If you are behind in payments or and can see a problem coming please don’t hesitate to call Joshua for help- Specializing in Short Sales with Solutions to your housing problems. You may need us….

Joshua Groesbeck

208-353-7131 or josh@homeswithjosh.com

www.homeswithjosh.com or www.idshortsale.com

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Strategic Short Sales

What is a Strategic Short Sale?

This is an option when you wish to sell your home, but the mortgage balance that you owe is greater than the market value of your home.

Strategic Short Sale vs. Foreclosure

If you are in a situation where you might face foreclosure, you may wish to choose a strategic short sale instead. Many lenders are willing to accept current market value as payment in full, regardless of the mortgage balance (for example, if your mortgage balance is $485,000 but you current property value is only $325,000). The current economy has been forcing many of us to face unforseen compromises, and lenders find that they need to compromise, too. A short sale will negatively affect your credit, but not as much as a foreclosure. Also, a short sale allows the seller to maintain more control of the sale.

When to Avoid a Short Sale

If you’re happy in your home, and your budget seems to be working, don’t let lower market values frighten you into selling. Sometimes, the best action is to do nothing.

How Do I Go Forward with a Short Sale?

Accomplishing a succesful Strategic Short Sale is going to involve selling your house, negotiating with the lender(s), and doing the necessary paperwork. It gets a little complicated, so we have an easy way to handle it all for you. We have organized the process into simple straightforward steps, and we handle the details for you.

As with a ‘regular home sale’ I’ll be at Trust Realty Realtor  care of your listing and home sale.  Experience on your side is what I can offer- I
don’t just list short sales, I get them sold!
OK, It Sounds Simple Enough, So What’s the Catch?

There is no catch.
As a Seller, you get to avoid the difficulties of handling negotiations with your lender and trying to figure out what information is needed where.
As a Realtor, I and my team of specialists stay in contact with all necessary parties to get your home sold at no cost to you.
The Lender gets to avoid a foreclosure, which could end up being more costly than accepting the proceeds of a short sale. Ideally the lender would be paid in full, but as we all know, this economy is hitting all of us pretty hard, and we all have had to compromise. But if the lender is going to be dealing with a short sale, at least the lender will have a neatly-organized package to consider.

It works.

I would love the opportunity to assist you in any way I can. I’m here to help.

Joshua Groesbeck 208-353-7131 or josh@homeswithjosh.com

wwww.homeswithjosh.com or  www.idshortsale.com

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I have posted a very helpful video to my website www.homeswithjosh.com for those of you who are having trouble making your house payment. Find out how you may qualify for the Making Home Affordable Program and what to consider if you do not.  Avoiding Foreclosure In Idaho Is Your Goal!

After watching the video please feel free to post questions that you may have.

It is not uncommon to think that while you may be having problems making your payment, the future will be different. Isn’t that the idea many shared with the adjustable mortgage loan? I am making $40,000 this year but in the next year or two I should be making $55,000 a year. The downturn in the economy has burst the bubble for millions who expect the best but in turn get what exists in “Today’s Economy”.  Don’t get me wrong we all want the best but I am trying to remember the last report about  the average worker getting the “Big Bonus” or “Generous Unexpected Raise”-

I was talking to a wise man the other day and he said “Josh, don’t we always want things we can’t afford? It seems to me that when I suddenly can afford those things, I no longer want them. Does that make me crazy?” I paused for minute and thought this guy probably has money for a rainy day and isn’t that what we all truly want??  I am willing to bet that he is not trying to figure out whether or not his house payment alone is eating up 31% of his gross pay and then what does that leave him to pay utilities, credit cards, car payment, student loans, entertainment, etc… And finally will his bank help  him modify a loan payment enough (?)  And/OR wipe the principle down to market value (?)   Probably not-

I encourage all of you who may be having a problem making the house payment to first look at all of your options to avoid foreclosure- If you want to and can get your home loan modified-Awesome- But if you can’t and need assistance please call– I have been specializing in Short Sale Properties before and after the housing boom- A Full-Time specialist with the knowledge and systems to help you!

By applying at www.IDshortsale.com you can count on a fast response with options to AVOID FORECLOSURE

Always feel free to call direct 208-353-7131 or josh@homeswithjosh.com

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