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With Home Prices Dropping, In Many Parts of Northeast OH It Is Cheaper to Own Than Rent

Northeast OH – The good news about the housing bust is that home prices are now more affordable. It is now cheaper to buy versus renting in many areas.

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

“At the peak of the real estate bubble, cities like . . . → Read More: With Home Prices Dropping, In Many Parts of Northeast OH It Is Cheaper to Own Than Rent

When A Bank Should Approve A Northeast OH Short Sale Offer

Northeast OH – A bank should approve a short sale when it makes the best financial sense to do so. Here is a little known fact. About 80% of all loans are not owned by the bank handling them.

That means that someone else is going to lose money if your bank rejects the . . . → Read More: When A Bank Should Approve A Northeast OH Short Sale Offer

Northeast OH Short Sales: Why Would a Bank Issue an Extension on a Short Sale Approval Letter?

Northeast OH – The most likely reason why a bank would accept to issue an extension on a short sale is because the bank prefers to do the short sale over the foreclosure.

This is a reason why your agent needs to continue to tell them on why the short sale will be beneficial . . . → Read More: Northeast OH Short Sales: Why Would a Bank Issue an Extension on a Short Sale Approval Letter?

Northeast OH Short Sale: How To Find The Short Sale Negotiators E-mail Address

Northeast OH – Many agents get frustrated because they know who the short sale negotiator is, but they don’t have any way to communicate with them.

Most short sale negotiators communicate by email. But, they usually wait until they are well into the transaction before they give you their e-mail.

Click here to discover . . . → Read More: Northeast OH Short Sale: How To Find The Short Sale Negotiators E-mail Address

Northeast OH Short Sales: Why Is Everyone So Negative About The Housing Market?

Northeast OH – The tax credit expired and everyone turned negative on the housing marketing.

One so called expert said we could see headlines about the real estate market crashing again. Another said that the housing market is going to continue it’s decline for another years or two.

He referenced an article that . . . → Read More: Northeast OH Short Sales: Why Is Everyone So Negative About The Housing Market?

Northeast Ohio Short Sales: If You Bought At The Market’s Peak, Does It Make Sense To Short Sale Your Home?

Northeast OH – Many homeowners bought their home at the peak of the market. In the hardest hit areas, they paid $500,000 for homes that are not selling for $250,000 (or even less.)

Their home is costing them $4,000 a month. (That is the total after paying property taxes and insurance.) Renters have . . . → Read More: Northeast Ohio Short Sales: If You Bought At The Market’s Peak, Does It Make Sense To Short Sale Your Home?

Banks Are Approving Short Sales in Northeast Ohio

Northeast OH – The Stop Foreclosure Institute sometimes receives e-mails from people that short sales are impossible. Well, short sales are not impossible. They just take time. Here is an example.

The Stop Foreclosure Institute was attempting a short sale on a property. The bank turned down an offer for $220,000 on the . . . → Read More: Banks Are Approving Short Sales in Northeast Ohio

Ohio cracks the whip on bank foreclosure filings

Dennis Murray (D-Sandusky) introduced House Bill (HB) 323 to Ohio’s House of Representatives. This bill on the draconian side for banks. It would require a brisk time line for banks to move a home from foreclosure court filing to bringing it to sheriff sale… if they don’t follow the time line apparently the lender will have the mortgage liens removed from the property and lose any rights to the proceeds of the sale of the property. . . . → Read More: Ohio cracks the whip on bank foreclosure filings