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Northeast OH Short Sales: Facing Foreclosure And Your Lender Changed The Locks?

Northeast OH – Many homeowners facing foreclosure come home to find the locks on their doors changed out. They are locked out of their own home.

We have seen lenders do this to homeowners who still own and live in their home. In one example, an American Veteran was facing foreclosure. He went to . . . → Read More: Northeast OH Short Sales: Facing Foreclosure And Your Lender Changed The Locks?

How We Convince A Lender To Approve A Northeast OH Short Sale

Northeast OH – In yesterday’s blog post we explained why some realtors consider short sales to be a “nightmare.” Then, we explained how we do to inform the actual loan owner of the lender’s negligence.

Today, we’ll explain how this works if the lender owns the loan in house. After all, there is no . . . → Read More: How We Convince A Lender To Approve A Northeast OH Short Sale

USA Short Sales: Why Do Bank Negotiators Break The Rules?

Northeast OH – We had a negotiator at Bank of America try to push us around a little while ago. We’ve studied and analyzed all of the short sale guidelines and rules.

This was an FHA loan and therefore would be governed by FHA’s Short Sale Guidelines. This means that the lender must follow . . . → Read More: Northeast OH Short Sales: Why Do Bank Negotiators Break The Rules?

How To Solve The Most Common USA Short Sale Problem

Northeast OH – Short Sales where two or more mortgages are involved are the trickiest. Both mortgage companies are losing a lot of money.

They both think that they are entitled to the proceeds of the sale. This is the most common short sale problem. Today we’ll give you an example of how we . . . → Read More: How To Solve The Most Common USA Short Sale Problem

Northeast OH Short Sales: Bank of America Still Has Huge Problems

Northeast OH – In 2010, an agent I know talked to the person at Bank of America in charge of the Loss Mitigation Department.

He was the top manager in the department that handles short sales, loan modifications, and foreclosures. He contacted this agent because agents were banding together to educate the public on . . . → Read More: Northeast OH Short Sales: Bank of America Still Has Huge Problems

Northeast OH Short Sales: Why The Lack of Accountability Has Hurt The Housing Market & US Economy

Northeast OH – The National Consumer Law Center wrote a White Paper on how banks handle loan modifications, short sales and foreclosures.

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

They titles their White Paper “Why Servicers Foreclose When They Should Modify and Other Puzzles of Servicer . . . → Read More: Northeast OH Short Sales: Why The Lack of Accountability Has Hurt The Housing Market & US Economy

Northeast OH Short Sales: How To Do a Bank of America Cooperative Short Sale

Northeast OH – You can hire a real estate agent if you want to, but it’s not a necessary step to get preapproved for the short sale. I help my sellers get preapproved but not every short sale agent offers this type of service because we don’t get paid to do it

Click here . . . → Read More: Northeast OH Short Sales: How To Do a Bank of America Cooperative Short Sale

Northeast OH Short Sales: Drawbacks To Bank Of America's New Short Sale Program

Northeast OH – Despite the fact that the Cooperative short sale may help the borrower leave the home without some of the negative aspects of a foreclosure, it has its drawbacks that you may need to consider before you decide to explore this option. Below are some of the drawbacks:

Click here to discover . . . → Read More: Northeast OH Short Sales: Drawbacks To Bank Of America’s New Short Sale Program

Northeast OH Short Sales: Why Bank Of America Is Offering A New Short Sale Program

Northeast OH – A cooperative short sale may be a good option depending on your situation.

But, you need to remember that Banks are not in the business of making life easier for its customers, much less anyone trying a short sale.

Click here to discover how other sellers successfully did a short sale . . . → Read More: Northeast OH Short Sales: Why Bank Of America Is Offering A New Short Sale Program

Northeast OH Short Sales: Benefits of Bank of America's New Short Sale Program

Northeast OH – Bank of America’s Cooperative Short Sale makes the entire short sale process easier for everyone involved.

The bank has rolled this out because a short sale reduces their losses compared to a foreclosure. A short sale is quicker than a foreclosure and it doesn’t tarnish the bank’s reputation as much as . . . → Read More: Northeast OH Short Sales: Benefits of Bank of America’s New Short Sale Program