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Northeast OH Short Sales: How To Hold Your Bank Accountable

Northeast OH – In our last post, we ranted about how the bankers do a lousy, incompetent job on short sale and loan modification negotiations.

Here is how you can avoid suffering under their incompetence. The key is to hold your bank accountable. Here’s how to do that.

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

ell them they can do as good of a job or as bad of a job as they want to on your short sale or loan modification. But, if they do not approve it, and lose money as a result, then you will report them.

Here is an example from an email we sent to a short sale negotiator. (Some of the details have been changed to protect the home seller’s identity.)

1. We have had the property at 193 NE Brock Lane for sale for over 4 months. Any buyer who would be interested in that house knows about it. They have decided not to make an offer.

The current offer is for $230,000. That is the highest and best offer we have received on this house. 2. I do not foresee a better offer coming in.

3. I project that if you reject this short sale and foreclose, then the home will sell for around $200,000. Here is how I came up with that number.

A. The local real estate market is declining by about 5% annually.

B. The foreclosure case is going very slow and will probably run for another 9-12 months.

C. Foreclosures sell for about 10% less than other listings.

4. The loan is owned by Fannie Mae. That means they and every American Taxpayer are the ones that stand to lose $30,000 or more. I will be contacting Fannie Mae, all of the members of congress, and my local newspaper.

I will let them know that you, John Doe, rejected this short sale and caused Uncle Sam to lose (another) $30,000.

Do you see how this holds them accountable? This strategy works for loans mods to. Just run the numbers and see what the projected losses are going to be. 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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