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Worried About Owing Money After A USA Short Sale?

Northeast OH – We recently received an email from Joy. She was thinking about a short sale, but was worried about a deficiency.

Here is a sentence from her email: “We obviously want to get the price as close to fair market value as possible to eliminate or reduce any deficiency the bank may . . . → Read More: Worried About Owing Money After A Northeast OH Short Sale?

Northeast OH Short Sales: What Occupy Wall Street Doesn't Know About Bankers

Northeast OH – Occupy Wall Street Protestors are not having the best success attacking Wall Street and the banks. But, that is because they are complaining about what they think is wrong with the situation.

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

If the protestors only knew . . . → Read More: Northeast OH Short Sales: What Occupy Wall Street Doesn’t Know About Bankers

Northeast OH Short Sales: Why Won’t My Lender Allow Me To Walk Away With No Deficiency?

Northeast OH – The Stop Foreclosure Institute recently received a question from James. Here was his question.

“We are in the middle of a very long negotiation with a large national lender.

I had my agent put a clause into the contract stating “upon approval of short sale by sellers’ lender, lenders, & or . . . → Read More: Northeast OH Short Sales: Why Won’t My Lender Allow Me To Walk Away With No Deficiency?

Northeast OH Short Sale Myth: I will have a deficiency no matter what happens

Northeast OH – Some homeowners looking to short sell their home think that they will have to repay their lender for the entire loss. It’s unfortunate to see them stress out and lose sleep at night wondering how they will repay the debt.

A short sale loss is usually a large bill for the . . . → Read More: Northeast OH Short Sale Myth: I will have a deficiency no matter what happens

Northeast OH Short Sales: What Do Lenders Consider A Legitimate Hardship For A Short Sale?

Northeast OH –We had a question about FHA short sales yesterday. We did some research on FHA short sales as a result. We stumbled upon something interesting. 

We have a list of all of the things that FHA considers legitimate hardships for a short sale. Click here to view the actual list from FHA. . . . → Read More: Northeast OH Short Sales: What Do Lenders Consider A Legitimate Hardship For A Short Sale?

Northeast OH Short Sale Myth: I will have a deficiency no matter what happens

Northeast OH – Some homeowners looking to short sell their home think that they will have to repay their lender for the entire loss. It’s unfortunate to see them stress out and lose sleep at night wondering how they will repay the debt.

A short sale loss is usually a large bill for the . . . → Read More: Northeast OH Short Sale Myth: I will have a deficiency no matter what happens

Northeast OH Short Sale: Sick Of Your Loan Mod Taking Forever? Why Not Contact Congress?

Northeast OH – We recently send everyone in congress a fax about a certain large bank. They had done a lousy job on a short sale file. We waited 90 days for an answer on an offer.

Get my Free, Step By Step Loan Modification Guide by clicking here.

The buyer got impatient . . . → Read More: Northeast OH Short Sale: Sick Of Your Loan Mod Taking Forever? Why Not Contact Congress?

A Common Northeast OH Short Sale Myth: Banks Can't Write Off Too Much Loss At Once

 

Northeast OH – We at the Stop Foreclosure Institute receive emails all the time that go something like this “The Bank’s Short Sale Problems are not that simple.

A bank can’t afford to write off too much loss at once. Also, their investors may not approve the short sale, because they can’t afford . . . → Read More: A Common Northeast OH Short Sale Myth: Banks Can’t Write Off Too Much Loss At Once

A Common Myth About Northeast OH Short Sales: Banks don't like short sales and prefer foreclosure

 

Northeast OH – One of the Stop Foreclosure Institute members talked to a homeowner recently about a short sales. Her house was close to being foreclosed upon.

She had thought about short selling the house. But, she had heard from her friends that banks don’t really like short sales and never pursued . . . → Read More: A Common Myth About Northeast OH Short Sales: Banks don’t like short sales and prefer foreclosure

Northeast OH Short Sales: What Do Lenders Consider A Legitimate Hardship For A Short Sale?

Northeast OH –We had a question about FHA short sales yesterday. We did some research on FHA short sales as a result. We stumbled upon something interesting.

We have a list of all of the things that FHA considers legitimate hardships for a short sale. Click here to view the actual list from . . . → Read More: Northeast OH Short Sales: What Do Lenders Consider A Legitimate Hardship For A Short Sale?