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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

A Rant About Lender Incompetence On Northeast OH Short Sales

Northeast OH – I am so sick of the incompetence and arrogance of people in the banking industry! It seems like the incompetence never ends.

We had a short sale closing last week. The underwriter for the buyer’s lender didn’t like the way the short sale approval letter was worded. They wouldn’t approve the . . . → Read More: A Rant About Lender Incompetence On Northeast OH Short Sales

Northeast OH Short Sales: I’m Sick And Tired And I’m Not Taking It Anymore!

Northeast OH – We recently received an e-mail from another agent that was having a hard time with a short sale.

“I have been working this short sale file for 4 months. There has been “no movement” no responses from the bank, no closing date.

The June 30th date just continues to trickle closer . . . → Read More: Northeast OH Short Sales: I’m Sick And Tired And I’m Not Taking It Anymore!

Northeast OH Short Sales: How To Publicize Your Lender’s Failings

Northeast OH – If you get annoyed at your bank, then here are a few methods you can use to let the world know about your lender’s failings.

One technique is a rip off report. Just put all the information onto www.ripoffreport.com. Just be sure to detail stuff that will hurt them.

Click here . . . → Read More: Northeast OH Short Sales: How To Publicize Your Lender’s Failings

Northeast OH Short Sale Q & A: The Second Mortgage Wants More Than The First Mortgage Will Give Them

Northeast OH – The Stop Foreclosure Institute recently received a question from Aggie. Here was Aggie’s Question.

“We received a short sale approval on the 1st. They will only pay the second mortgage $3,000. The problem is that the second mortgage wants $5,500.

We are arguing back and forth with the second mortgage. The . . . → Read More: Northeast OH Short Sale Q & A: The Second Mortgage Wants More Than The First Mortgage Will Give Them

A Common Northeast OH Short Sale Myth: Short Sales Are Adversarial

Northeast OH – Many people mistakenly think that a short sale is adversarial. “I will fight that banker and convince them to let me short sale and walk away from the upside down debt”, they think to themselves.

That is not how short sales actually work. Most negotiations are not adversarial. In fact, most . . . → Read More: A Common Northeast OH Short Sale Myth: Short Sales Are Adversarial

Agents Claim the Northeast OH Short Sale Process Is Flawed. But, How Do We Fix It?

Northeast OH – Many agents have been complaining that the short sale process is flawed. A recent survey of realtors showed that over half of them thought the short sale process was difficult.

Some of the agents complained that they are “struggling with a broken short sale process.” But, why is the short sale . . . → Read More: Agents Claim the Northeast OH Short Sale Process Is Flawed. But, How Do We Fix It?

Northeast OH Short Sale: I’m having a hard time negotiating with a HELOC

 

 

“What is your experience with Chase Heloc’s? I have a HELOC that is a 2nd mortgage. Citi (the 1st) will give them 6% or approximately $3000. Chase’s collection agency is saying that they want 30% ($30,000.)

They won’t budge. They want this in CASH, not as a promissory note (in case . . . → Read More: Northeast OH Short Sale: I’m having a hard time negotiating with a HELOC

Northeast Ohio Short Sales: Lenders Loses 50k Turning Down Short Sale

This bank's stockholders are probably unhappy after losing $50,000 over incompetence

Northeast OH – I have a good story today about another bank losing their shirt because their short sale process is so tough to work with.

The bank in question is a large, . . . → Read More: Northeast Ohio Short Sales: Lenders Loses 50k Turning Down Short Sale

Northeast Ohio Short Sales: Why Should I Pay A Mortgage That Is Twice As Much As My Home Is Worth?

Northeast Ohio – The Stop Foreclosure Institute recently received a question from Luis. Here is Luis’s Question.

“I am working on a loan modification on my home. I just don’t want to be upside down and want a fair interest rate. Why should I pay on a mortgage that is twice as much . . . → Read More: Northeast Ohio Short Sales: Why Should I Pay A Mortgage That Is Twice As Much As My Home Is Worth?