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Northeast OH – On our last blog post, we ran some numbers on why a short sale reduces a lender’s losses by 20% compared to a foreclosure. Today I am going to add all the numbers together. That way we can see exactly how much this lender lost by not accepting the short sale. . . . → Read More: The Final Numbers On How A Northeast OH Short Sale Reduces Losses  Leave a comment  Forclosure options, short sale  21 Months, 411, Avoid Foreclosure, Blog, Business Money, Contact, Discover, E Mail, Feet, Foreclosure, Foreclosure Attorney, Free Consultation, Insurance, Interest Income, Lent, Loan Modification, Losses, Mortgage, Property Taxes, real estate, Short Sale, Stop Foreclosure Northeast OH – Lenders hate losing money. They hate loan modifications, principal reductions, and any other thing that causes them to lose money. But, in today’s tough economy they have no choice but to accept them. The primary reason a lender will grant a loan modification is because that usually reduces their losses. . . . → Read More: Another strategy to use when negotiating a Northeast OH Loan Modification Leave a comment Forclosure options, Foreclosure defense, Loan modifications, short sale, Short sale help Avoid Foreclosure, Benefit, Contact, Current Market Value, E Mail, Economy, Foreclosure, Foreclosures, Free Consultation, Home Insurance, How Much Money, Insurance, Insurance Costs, Interest Income, Lenders, Loan Modification, Losses, Money Loan, Property Taxes, Real Estate Agent, Real Estate Broker, Realtor, Short Sale, Step Loan, Stop Foreclosure Northeast OH – If your loan has Private Mortgage Insurance, also known as PMI, then there is a high likelihood that they will request that you sign a promissory note. Today’s blog post talks about how to convince the lender to waive it. Discover how other sellers successfully did a short sale to . . . → Read More: Northeast OH Short Sales: How To Negotiate Away Promissory Notes Leave a comment Forclosure options, Foreclosure defense, Loan modifications, short sale, Short sale help Andy Morris, Assets, Avoid Foreclosure, Blog, Discover, E Mail, Foreclosure, Free Consultation, Insurance, Likelihood, Loan Modification, Money Help, Negotiator, Pmi, Private Mortgage Insurance, Promissory Note, Promissory Notes, Real Estate Broker, Reason, Risk, Short Sale, Stop Foreclosure, Supervisor 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? Northeast OH – The Stop Foreclosure Institute recently received a question from Max. Here is Max’s Question. “If I pay mortgage insurance and default on my loan, why wouldn’t that cover the deficiency amount? Max.” Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Here is the . . . → Read More: Northeast Ohio Short Sales: I Have Mortgage Insurance. Won’t That Cover The Deficiency? Leave a comment Cleveland short sales 10 Years, Deficiencies, Discover, E Mail, Half The Time, Insurance, Insurance Cover, Insurance Terms, Mortgage Companies, Mortgage Company, Mortgage Cover, Mortgage Insurance Companies, Mortgage Insurance Company, Mortgage Terms, Ohio Insurance, Ohio Mortgage, Promissory Note, Promissory Notes, Stop Foreclosure, Zero Interest Northeast OH – Some lenders are very stubborn about collecting what they feel they are “rightfully owed.” These lenders are usually a lender that you originally got the loan from. A good example is a credit union loan, or a small community bank. Another common type is loans that were granted with Private . . . → Read More: Northeast Ohio Short Sales: How To Convince A Lender To Waive A Promissory Note Northeast OH – A home owner thinking of a short sale recently asked us why they should short sale versus just walking away and letting their lender foreclose on the home. We gave them the normal answer: “It’s much better for your credit.” That was the first thing that popped into our head. But, . . . → Read More: Seven Ways You Benefit From A Northeast Ohio Short Sale 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. Leave a comment Cleveland short sales Beautiful, Cleveland Ohio, Facing Foreclosure, First Mortgage, Gross Income, Hamp, Home Affordable Modification Program, Insurance, Loan Modification, Love, Metaphor, Mortgage Industry, Mortgage Payment, Nature, Niagra Falls, People, Piti, Principal Interest, Sounds, standard modification waterfall, Swimming, Target, Treasury Department, Waterfall, Waterfalls Since the end of April we have several folks who wanted to take advantage of short sales and also get the $8,000 first time homebuyers cash incentive. Of course when it was more necessary than ever to have a timely close one of our short sales went wrong when it was broken into and several vandalized . . . → Read More: Partial tax credit extension decreases stress for short sale participants Leave a comment Short sale help Advantage Sales, Bank Of America, Boss, Call Center, Cash Incentive, Closing Date, Congress, Credit Extension, Fannie Mae, Google, Insurance, Insurance Adjusters, Insurance Company, Investor, Mortgage Company, Negotiator, Participants, Police Reports, Short Sale, Short Sales, Specter, State Insurance, Stress, Tax Credit, Tax Extension, Three Months, Time Homebuyers |
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