Great new listing! 6112 Cotton Dr SE

Hello. My name is Nathan Olotoa with Keller Williams Realty-Tacoma. Today I just wanted to share some information about a home for sale in Olympia that I recently put on the market. The home is conveniently located near many shopping and dining options and sits on the 9^th fairway of the Capital City Golf Course for a very fair price.

 

When I took this listing, there were a couple things that I considered special about this property. It has been maintained very well inside and out, and it is move-in ready. It has newer windows and furnace for maximum heating efficiency, as well as A/C for those hot summer days. In a market where there are many bank owned homes and short sales, move in ready is pretty difficult to find. The home also features a very large master bedroom with its own bathroom and larger family room to fit all of your furniture. There are a total of three bedrooms in this home with den/bonus room and three bathrooms and is perfect for someone who has children (or roommates!)

 

If you like to grill but hate doing it in the rain then you will enjoy the indoor grill and on the days that it is nice you can BBQ on the deck while watching the golfers walk by. The two car garage has a garage opener and the roof is newer. Plenty of parking is available for you cars or RV.

So what are you waiting for? Schedule you own private showing with Nathan Olotoa today.

Short Sales: Can I buy again right after a Short Sale?

Hi! This is Nathan Olotoa from 59days2sold.com. Today I want to talk about Short Sales: Can I buy again right after a Short Sale?

"Yes, you can Short Sale and buy another home."

– We get this question a lot from people. “I am upside down and need to move. I would like to buy another home. Can I do that?” they ask us.

Today they can. FHA (the Federal Housing Administration) has a new program that enables you to short sale your existing home and buy a new home at today’s reduced prices.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

The home you purchase would have to meet FHA’s standard lending guidelines. FHA is a great mortgage program.

In fact, more people buying a home in today’s market are getting an FHA loan.

Here is what you would need to do to participate in the program:

1. Determine if you qualify to participate in the program. We have been told that you will need the following.

(Guidelines can change at any time, so make sure you check them with a Mortgage Professional familiar with the program.)

A. A 640 FICO credit score or better.

B. You must be current on all installment payments and your mortgage.

C. No bankruptcy or foreclosure on your credit in the last 7 years.

D. The home you are purchasing must be inferior to the one you are selling. I don’t know the exact guidelines, but I think it means it is a smaller home, or it has less bedrooms or a lower price.

E. You will need the 3.5% down payment for the new purchase.

2. Continue making your mortgage payments each month.

3. Talk to a Mortgage Professional and fill out FHA’s Short Sale and Buy Application.

4. Get pre-approved for your next home loan.

5. Put your home on the market with a licensed short sale realtor.

6. Once the short sale is approved, then you can start looking at other homes.

7. Close on selling your home and on purchasing the new property.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at asknate@kw.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 253-310-1177

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our 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, Nathan Olotoa.

Nathan is a Real Estate Broker at Keller Williams-Tacoma. Short Sales Realtor:

Phone: 253-310-1177. asknate@kw.com.

Listed to Sold in 59 days or less

View My homes for sale at
59days2sold.com.

Short Sale Realtor.

Short Sales. Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is
not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing. The views expressed
here are Nathan Olotoa's personal views and do not reflect the views of
Keller Williams-Tacoma. This information on Short Sales: Can I buy again
right after a Short Sale? You Decide is provided as a courtesy to our
viewers to help them make informed decisions.

My Realtor hasn't talked to me about a Short Sale & I'm not even getting a showing. I think I might be upside down. What do I do?

Hi! This is Nathan Olotoa from 59days2sold.com. Today I want to talk about My Realtor hasn't talked to me about a Short Sale & I'm not even getting a showing. I think I might be upside down. What do I do?

- The Stop Foreclosure Institute recently received a question from Jennifer. She is having a hard time selling her home.

“I have had my house for sale for a little while, but it hasn’t sold. No buyers have come to look at it. At first I thought the price was fair. But, now that no one has come to see the home, I am beginning to realize that I am upside down.

My realtor hasn’t talked to me about a short sale. What should I do?” Jennifer asked.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here is what I would recommend to her. First, talk to your current agent about a short sale. The might be uncomfortable with bringing it up.

Short sales are a sensitive issue. Some people get offended when you ask them about a short sale. It doesn’t look like that is the case with you.

Tell your agent that you think you might be upside down. Ask them what they think they can realistically sell the house for in today’s market.

Then, ask them for a “Net Sheet.” This is a sheet that details all of the costs and fees associated with selling a home.

The fees and costs are subtracted from the sales price to give you the net amount you will receive from the sale. Compare that number with your mortgage payoff.

f it is less than what you owe your lender, then you will need to consider a short sale. Ask your agent if they can handle your short sale.

If not, then you may need to hire someone else. Short sales are a lot more complex than a normal real estate transaction.

Make sure the person you interview has closed short sales in the past and knows what they are doing.

Ask them how the short sale process works. Have them explain it to you. This will help you determine if that person can do the job for you.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at asknate@kw.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 253-310-1177.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, Nathan Olotoa.

Nathan is a Real Estate Broker at Keller Williams-Tacoma.

hone: 253-310-1177. asknate@kw.com.

Listed to Sold in 59 days or less

View My homes for sale at 59days2sold.com.

Short Sale Realtor. Short Sales. Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Nathan Olotoa's personal views and do not reflect the views of Keller Williams-Tacoma. This information on My Realtor hasn't talked to me about a Short Sale & I'm not even getting a showing. I think I might be upside down. What do I do is provided as a courtesy to our viewers to help them make informed decisions.

Short Sales: Getting divorced, neither can afford, what to do?

Hi! This is Nathan Olotoa from 59days2sold.com. Today I want to talk about Short Sales: Getting divorced, neither can afford, what to do?

- In this case I would recommend you sell the house. Now, if you are reading this blog, then you must be researching a short sale. Which means that you are probably upside down on the home. You have three options.

Option #1: Let your lender foreclose on the home. You just stop making the payments and surrender the home to your lender.

Option #2: Short Sale the house and get the debt wiped out. A short sale offers the following benefits over a foreclosure.

Issue: Can I get a Future Fannie Mae Loan?

Foreclosure: The current Fannie Mae Guidelines require you to wait 5-7 years before you can buy another home with a Fannie Mae Loan. Most other banks and lenders have the same or even stricter procedures.

Short Sale: If are back on your feet 2 years after the short sale, then Fannie Mae guidelines allow you to get a loan from them.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Issue: Can I get a future loan from any mortgage company?

Foreclosure: Any future application will require you to answer the question, "Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?" you'll have to answer that question yes.

Short Sale: You can state “No” because you short sold your home. You only have to say yes if the bank completes the foreclosure.

Issue: Credit Score Impact.

Foreclosure: Your score is typically lowered by 250 to 300 points, or even more. This often stays on your credit score for over 3 years.

Short Sale: Only late payments show up. After a short sale, the mortgage is normally reported as "paid in full, settled." This lowers your score as little as 50 points if all other payments are being made. Oftentimes, this is off your credit report in as little as 12 months.

Issue: Will I owe the bank any money for the shortfall?

Foreclosure: Many lenders take 12-18 months to foreclose upon a property and resell it. This dramatically increases the loss and makes any deficiency judgment potentially bigger.

Short Sale: Few lenders ask for a promissory note on a short sale. As an example, on one short sale, the bank lost over $120,000. They settled with the seller for $25,000 to be repaid over 15 years with zero interest. The seller's monthly payment was only $138,89. You can often even negotiate and have the promissory note waived.

Option #3: Rent the property. This is a good way to earn some extra money. However, if you are upside down, then it is more than likely that the rent will not cover the mortgage. That means someone will have to write a check each month covering the loss.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at asknate@kw.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 253-310-1177.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, Nathan Olotoa.

Nathan is a Real Estate Broker at Keller Williams-Tacoma.

Phone: 253-310-1177. asknate@kw.com.

Listed to Sold in 59 days or less

View My homes for sale at 59days2sold.com.

Short Sale Realtor. Short Sales. Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Nathan Olotoa's personal views and do not reflect the views of Keller Williams-Tacoma. This information on Short Sales: Getting divorced, neither can afford, what to do is provided as a courtesy to our viewers to help them make informed decisions.

- If homeowner's have a bill of rights, then bankers must have one as well. We decided to put together the Banker's Bill of Rights. That way they woul

Hi! This is Nathan Olotoa from 59days2sold.com. Today I want to talk about
- If homeowner's have a bill of rights, then bankers must have one as well. We decided to put together the Banker's Bill of Rights. That way they wouldn't

feel left out.

Let me know if we should put this together and petition congress to add it to the constitution.

The Banker's Bill of Rights.
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1. All Bankers have the Right to make any mistake they want and still get bailed out by the American Taxpayer. They can fiddle around with

complex derivatives with no risk to themselves or the bank they run.

When they run their bank into the ground, they get the full assistance of the American Taxpayer to bail them out of their mess.

2. All Bankers have the right to say "sic' em" to their debt collection phone harassment team. Every American that doesn't pay on time will

be called non-stop until that pay up.

They have the right to call the debtor at 8:55 on a weeknight, at 8AM on the weekend, and even at their workplace. Maybe the Bankers can embarrass the

employee or cause their boss to fire them.

3. All Bankers have the right to make the loan modification as confusing and frustrating a possible. This includes the right to change

policies at anytime, continue the foreclosure process in order to force the homeowner to accept a payment they can't afford, and not respond to phone calls

or e-mails for weeks at a time.

4. Every American either pays their mortgage on time, or they are sent to a forced labor camp to work until they have paid everything back

in addition to delinquent interest. This is called "The Gulag" Rule.

If you get behind and we lose money on your house, then go to a work camp to "work off" what you owe us at minimum wage.
In addition, if any homeowner dare not pay on time, then a late penalty shall be charged at 10% per day.

Discover how other sellers successfully did a short sale (and avoided "The Gulag") by clicking here.

4. All Bankers have the right to hide all the rules for a short sale or loan modification. We will enter a new age of holding the homeowner

in the dark. Transparency, accountability, and openness will be gone.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at
href="mailto:asknate@kw.com">asknate@kw.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 253-310-1177.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender.
href="">Click here to request a copy.

Thanks for reading this, Nathan Olotoa.

Nathan is a Real Estate Broker at Keller Williams-Tacoma.

Phone: 253-310-1177. asknate@kw.com.
Listed to Sold in 59 days or less

View My homes for sale at 59days2sold.com.

Short Sale Realtor. Short Sales. Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed

professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Nathan

Olotoa's personal views and do not reflect the views of Keller Williams-Tacoma. This information on Short Sales: The Banker's Bill of Rights is provided as

a courtesy to our viewers to help them make informed decisions.

Citizen's "Wiki Leak": Large Bank causes investor to lose an estimated 40k thru incompetence

Hi! This is Nathan Olotoa from 59days2sold.com. Today I want to talk about Citizen's "Wiki Leak": Large Bank causes investor to lose an estimated 40k thru incompetence

- Wiki leak's Editor, Julian Assange, recently said he would be releasing documents on a large US Bank. We decided to beat him to it and release some information on how a large US Bank caused their client to lose an estimated 40k because of their incompetence.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

This is a house that we drive past every day on my way to work. We noticed that it look abandoned. We looked up the owner to see if they might want to sell the house. That’s when I saw that the home had already been foreclosed. The house was foreclosed on February 4th, 2009. That’s almost a two years ago.

Since we didn’t know who the lender was, we forgot about the house. But, it was a great example of why a bank owned house sells for less than a short sale. So, we went out to the house and took some pictures.

Normally, after a bank forecloses on a house, they will put it up for sale within 2-3 months. Today, December 1st, 2010, they still haven’t put the home up for sale. We found out that a large US Bank's Loan Servicing Arm was servicing the loan on behalf of the owner. In July 2009, we talked to Ann at this lender's loan servicing office. She told us that they were servicing this loan.

She said if I had a buyer, we would need to contact the homeowner. “It’s not owned by us. You need to contact the homeowner if you want to sell the house. The property has not gone to foreclosure sale,” she said. We told her the house had already been foreclosed upon. We asked her if they ever communicated with the foreclosure lawyers. We also made sure we were talking about the same house. She confirmed that we were talking about the same house and confirmed the address and the foreclosed homeowner's name.

“That’s interesting,” she replied. “My records show it hasn’t gone to foreclosure. I’ll check in with the foreclosure department and verify whether it has or hasn’t been foreclosed upon,” she said. Today, almost two years later, no one has followed up on this house. The loan servicer has been 100% incompetent with their actions on this house.

Here is who it appears owns the house today: The Certificate Holders of the Morgan Stanley ABS Capital I Inc Trust 2005-WMC6 Mortgage Pass Through Certificates, Series 2005-WMC6. That means the owners could range from a pension fund, a large Wall Street Firm, or individual persons.

Estimate of Money Lost by the owner: $40,000 to $50,000. This is an estimate of the amount of money lost because the house was no put on the market in the normal 2-3 months after foreclosure. This large US Bank's servicing arm has waited almost two years to put the home up for sale, and it still isn’t on the market as of December 1st, 2010.

Here is how I came up with the estimate of loss:

We asked another agent what he had thought the house would have sold for previously. We both agreed that if the house had been listed in April 2009, that it would have sold quickly. This is because Spring is the peak selling season. We both agreed that it would have sold for between $140,000 and $150,000.

Today homes similar to this one are selling for $90,000 to $100,000, depending on the condition. This home is in pretty bad condition. So, we can conservatively estimate the loss because of a reduced selling price to be: $35,000 to $50,000.

That isn't factoring in a estimated $4,000 in property taxes that have accrued during these past two years, nor lost interest if the money had been loaned to someone else.

I am going to give the same answer as Mr. Assange for who the bank is. First, it is a large US Bank. If you were to ask, "Is it the largest US Bank?" then our answer would be: "No Comment."

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at asknate@kw.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 253-310-1177.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, Nathan Olotoa.

Nathan is a Real Estate Broker at Keller Williams-Tacoma.

hone: 253-310-1177. asknate@kw.com.

Listed to Sold in 59 days or less

View My homes for sale at 59days2sold.com.

Short Sale Realtor. Short Sales. Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Nathan Olotoa's personal views and do not reflect the views of Keller Williams-Tacoma. This information on Citizen's "Wiki Leak": Large Bank causes investor to lose an estimated 40k thru incompetence is provided as a courtesy to our viewers to help them make informed decisions.

Question from homeowner: My lender just sold my loan. Is that a good thing?

Hi! This is Nathan Olotoa from 59days2sold.com. Today I want to talk about Question from homeowner: My lender just sold my loan. Is that a good thing?

- The Stop Foreclosure Institute recently received a question from James. “My loan was just sold. I was making payments to CitiFinancial and they sold it to Nationstar. Is that good or bad?” James asked.

Discover how other sellers successfully did a short sale and request a free consultation by clicking here.

Here is the answer. It’s neither good nor bad. In fact, I don’t think your loan was sold. You see, most loans were packaged up and sold to Fannie Mae, Freddie Mac, or Wall Street.

James’s loan was more than likely packaged up and sold off. I asked him who his original lender was. He said it was a company called First Magnus. (First Magnus declared bankruptcy in 2007 and was afterwards closed.)

The Stop Foreclosure Institute has negotiated short sales on loans that were originally with First Magnus. The last one was sold to a large Wall Street Firm and securitized.

That means James’s loan could be owned by anyone. More than likely it is owned by Fannie Mae or Freddie Mac. If not, then it was probably sold to a Wall Street Firm.

The owner of the loan hired CitiFinancial to act as their front man. That means Citi collected the payments, handled escrows and accounting, and manages debt collections and foreclosures.

More than likely Nationstar did not buy the loan. Instead whoever owns the loan hired them to act as the front man instead of Citi.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at asknate@kw.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 253-310-1177.

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, Nathan Olotoa.

Nathan is a Real Estate Broker at Keller Williams-Tacoma.

Phone: 253-310-1177. asknate@kw.com.

Listed to Sold in 59 days or less

iew My homes for sale at 59days2sold.com.

Short Sale Realtor. Short Sales. Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Nathan Olotoa's personal views and do not reflect the views of Keller Williams-Tacoma. This information on Question from homeowner: My lender just sold my loan. Is that a good thing is provided as a courtesy to our viewers to help them make informed decisions.