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Step Three In Fixing The Flawed Northeast OH Short Sale Process: Accountability

Northeast OH – Once the lenders have solid data in place to find and measure the problem, then solid decisions can be made to fix the problems. Our last blog post detailed how to get that data.

Once you have the data, then you can have accountability. Here are a few things we know should be held more accountable.

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

#1: People that value the property for the lenders. Before approving a loan modification or short sale, the lenders compare that financial result with what they can expect from foreclosure.

What they will recoup on the short sale or loan modification is a relatively solid number. What they will recoup on foreclosure is not.

So, they ask an expert to tell them what the property is worth. This person evaluates the property and tells the lender what they think the property is worth.

In our opinion, these valuations are not always accurate. We see many people say a property is worth $240,000. The short sale offer is for $225,000 and is rejected because of the $15,000 difference.

However, when the property is foreclosed and the dust settles, the home ends up selling for $200,000. That is a big discrepancy and someone needs to be held accountable for it.

#2: The people processing these files. In some cases the people processing these files don’t answer calls or respond to e-mails. Because of this, many short sales fail and are foreclosed on later.

If a buyer offering to pay $225,000 walks after two months and the home sells for $200,000 as a foreclosure, then the person processing the short sale needs to be held accountable.

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. Northeast OH Short Sales Realtor:

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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