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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?

Northeast OH Short Sales: Mistakes To Avoid When Facing Foreclosure

Northeast OH – Mistake #1: Deeding your property to a third party without confirming that your debt has been paid off. 

Deeding your house to someone else is one way to avoid foreclosure. However, there are some things you need to do before you make a decision to deed your house to someone else . . . → Read More: Northeast OH Short Sales: Mistakes To Avoid When Facing Foreclosure

How Can a Northeast OH Realtor Help Me When I’m Facing Foreclosure?

Northeast OH – While most people think of realtors as a person you turn to only when you’re buying or selling a home; many don’t realize that a realtor’s expertise in the housing industry can help you in other ways also. If you are facing possible foreclosure, turning to a realtor for help may . . . → Read More: How Can a Northeast OH Realtor Help Me When I’m Facing Foreclosure?

Northeast OH Short Sales: Are you facing Foreclosure?

Northeast OH – What can you do if you are facing a foreclosure? One of the scariest and worse case scenarios for a homeowner is getting so far behind in your payments that foreclosure is leering around the corner. You feel as though you have let everyone, yourself included, down. You feel embarrassed, even . . . → Read More: Northeast OH Short Sales: Are you facing Foreclosure?

A Common Northeast OH Short Sale Negotiation Mistake: Talking Too Much

Northeast OH – This is the worst sin of negotiating. Don’t tell the buyer’s or their agent your life’s story.

What do you think would pop into a buyer’s head if they heard this out of a seller’s mouth? “We must sell the home because it is in foreclosure and if we don’t sell . . . → Read More: A Common Northeast OH Short Sale Negotiation Mistake: Talking Too Much

Northeast Ohio Short Sales: The Average Homeowner Can Live 492 Days Rent Free

Northeast OH – According to the Wall Street Journal [1], the average homeowner with a home in foreclosure hasn’t made a payment in 492 days. What’s even crazier is that those homes are still in the foreclosure process.

That means that a homeowner can live rent free for even longer than 492 days. . . . → Read More: Northeast Ohio Short Sales: The Average Homeowner Can Live 492 Days Rent Free

Bank of America Makes Improvements to Short Sale Process

Bank of America may now be one of the preferred lenders to work with in the Short Sale process. They have been making several big improvements. This is good news if you are in a tough situation and Bank of America is your bank. It is promising news for everyone else too because we . . . → Read More: Bank of America Makes Improvements to Short Sale Process

Use the HAMP standard modification waterfall to reduce your payments with a loan modification in Cleveland Ohio.

That is a good summary of the standard modification waterfall. This is a series on the standard modification waterfall and you will soon see more posts giving you the details so that you can keep your lenders on task. This knowledge is vital in making sure your lender follows the guidelines in offering you a modification. More often than not your lender will get the waterfall wrong so as to turn you down and foreclose on you. . . . → Read More: Use the HAMP standard modification waterfall to reduce your payments with a loan modification in Cleveland Ohio.

How do I defend against my lender?

FROM MY BLOG I RECIEVED THIS QUESTION:

Andy, I work with senior homeowners 62 or older that are facing foreclosure. I get the banks to reduce the principle balance and pay that off with a reverse mortgage. Most of my clients are on fixed incomes and can’t afford an attorney or mortgage audit. . . . → Read More: How do I defend against my lender?

Should I reaffirm my mortgage after bankruptcy- letter of affirmation

I recieved the following question: I have been working with my mortgage company since 6/2009 on home modification. In 9/2009 I received a letter stating I was approved for the modification and should receive the solution package in 5-7 bus. days. I never received it and after hundreds of calls to the Mortgage company I received a letter on 12/17/09 stating I was denied and in default of over 12,000.00 & facing foreclosure. I started Chapter 7 Bankruptcy and now mortgage company is telling me they can complete the modification if my lawyer sends them a letter of affirmation. I have no idea what this means or what to do.> . . . → Read More: Should I reaffirm my mortgage after bankruptcy- letter of affirmation