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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

Why are Northeast OH Ohio short sale sellers not choosing HAFA?

The #1 one reason people are opting out of HAFA is that they have to start making payments typically at 30 percent of what they are earning. For those that don’t make any money at all this is not a problem. Many others simply aren’t interested because of the additional burden of paperwork that is required and the long way to be even be considered for a HAFA short sale. . . . → Read More: Why are Westlake Ohio short sale sellers not choosing HAFA?

More benefits to Clevelanders in foreclosure

Here are a few more details about the Obama spending plan to help homeowners.  I wrote about some of the benefits to the borrower for doing loan mods last week.

1.)  The new plan incentives banks to offer plans that the homeowners can actually afford.  After 3 months of the homeowner remaining current on . . . → Read More: More benefits to Clevelanders in foreclosure