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Don’t Accept A Promissory Note When You Short Sale Your USA Home

Northeast OH – Many lenders ask for a promissory note on short sales. This is especially true if the lender has Private Mortgage Insurance (also called PMI) that has to approve the short sale.

The PMI companies know that homeowners will do anything to protect their credit when they are short selling their home.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

To avoid a promissory note you must convince the negotiator at the PMI Company that you have not assets and no disposable income that can be used to pay them.

I ask to speak directly with the PMI negotiator. Don’t let your lender tell you that you are not allowed to talk to them. Don’t take no for an answer. If necessary, ask to speak with a supervisor at the lender.

The PMI companies know that if the home is foreclosed, then they will lose even more money when the home is sold after foreclosure. Keep this in mind.

Tell the employee that you will hold them accountable if the home is foreclosed and sells for less money after foreclosure.

We have seen a lot of lenders and PMI Companies turn down short sales, only to see the property sell for much less after it is foreclosed upon.

If you stick to your guns they will release the debt and allow you to walk away without a promissory note. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at iandymorris@gmail.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 (440) 348-5500

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

Thinking about a loan modification? Our Northeast OH 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, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (440) 348-5500. iandymorris@gmail.com.

View My homes for sale at www.rtserve.com.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH. Northeast OH Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Northeast OH Short Sales. Northeast OH Realtor, Northeast OH Stop Foreclosure, Northeast OH Foreclosure Prevention, Prevent Foreclosure Northeast OH, Northeast OH Foreclosure Defense, Northeast OH behind in Payments.

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