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Northeast OH Short Sales: Good News On Bank of America Short Sales

Northeast OH – Bank of America is rolling out a new short sale program that will provide the quickest route to a short sale decision.

The bank came up with this programs to help ensure that homeowners are able to explore all their options and avoid foreclosure.

This program, named the Bank of America . . . → Read More: Northeast OH Short Sales: Good News On Bank of America Short Sales

Does My Northeast OH Short Sale Have To Be Approved Before I Put It Up For Sale?

Northeast OH – We often get asked if a short sale is even worth the effort. “Do I need to have my short sale “Approved” by my lender before I put my home on the market?” one seller asked us.

“When I called my lender they wouldn’t talk to me about my short sale. I . . . → Read More: Does My Northeast OH Short Sale Have To Be Approved Before I Put It Up For Sale?

Northeast OH Short Sales: Questions to ask before hiring a short sale agent

Northeast OH – The right agent can make the difference between success and failure on your short sale. You risk losing a lot when your agent doesn’t understand short sales. The short sale can be denied and the home foreclosed. Then you have to wait five years to buy another house. Or, the lender may . . . → Read More: Northeast OH Short Sales: Questions to ask before hiring a short sale agent

Northeast OH Short Sales Are Improving

Northeast OH – We recently saw something positive on short sales with Bank of America. Bank of America recently sent out an email stating that you can no initiate the short sale process without a buyer.

The agent can start the process and get things going before a buyer makes an offer to purchase . . . → Read More: Northeast OH Short Sales Are Improving

Northeast OH Short Sale Myth: Banks Aren't Approving Short Sales Because They Don't Want To Take Big Losses

Northeast OH – This is another short sale myth we’ve seen tossed around. Some people in the media even suggested that banks were delaying foreclosures to delay losses being recorded on their books.

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

Here is what I think is . . . → Read More: Northeast OH Short Sale Myth: Banks Aren’t Approving Short Sales Because They Don’t Want To Take Big Losses

Northeast OH Short Sales: Will Bank Of America Approve Short Sales With No Deficiency?

Northeast OH – The Stop Foreclosure Institute recently received this question from another agent. Here was his question.

“”Have you had any luck getting short sales done with no deficiency with Bank of America? My seller is a young couple. They received a job transfer but are very upside down on the house. David”

. . . → Read More: Northeast OH Short Sales: Will Bank Of America Approve Short Sales With No Deficiency?

Northeast OH Short Sale Question: Can I Push The Short Sale Process To Make It Go Faster?

Northeast OH – The Stop Foreclosure Institute recently received a question from Marlen. Here was her question.

“I am trying to buy a short sale. It has been 4 months and we have heard nothing except that we are now on our 2nd negotiator, still with no contact from them.

I am getting very . . . → Read More: Northeast OH Short Sale Question: Can I Push The Short Sale Process To Make It Go Faster?

Why Be Responsible When You Can Get A Bailout?

Northeast OH – Why does a British Bank do a better job than the American Banks?

We have always liked short sales with HSBC. They respond promptly and are easy to work with. The bottom line is that they do a solid, competent job handling short sales and loan modification.

I think the reason . . . → Read More: Why Be Responsible When You Can Get A Bailout?

Northeast OH Short Sales: Is It Ethical For Lenders To Make Millions At Your Expense?

Northeast OH – Many lenders do not own the loans they handle. Instead, they are paid by the actual loan owner to collect payment.

In my opinion, the banks make millions by understaffing their foreclosure departments? Here’s a real life example. A bank forecloses on a house and waits for over a year to . . . → Read More: Northeast OH Short Sales: Is It Ethical For Lenders To Make Millions At Your Expense?

The Biggest Threat To A Successful Northeast OH Short Sale

Northeast OH – The biggest threat to your short sale is a high appraisal. Banks consider short sales for economic reasons.

A bank will approve a short sale only if they think they will net more money taking the short sale offer. To make sure they aren’t selling the house for too little, they . . . → Read More: The Biggest Threat To A Successful Northeast OH Short Sale