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Northeast OH Short Sales: Benefits of Bank of America's New Short Sale Program

Northeast OH – Bank of America’s Cooperative Short Sale makes the entire short sale process easier for everyone involved.

The bank has rolled this out because a short sale reduces their losses compared to a foreclosure. A short sale is quicker than a foreclosure and it doesn’t tarnish the bank’s reputation as much as . . . → Read More: Northeast OH Short Sales: Benefits of Bank of America’s New Short Sale Program

Northeast OH Short Sales: Will Bank Of America Approve Short Sales With No Deficiency?

Northeast OH – The Stop Foreclosure Institute recently received this question from another agent. Here was his question.

“”Have you had any luck getting short sales done with no deficiency with Bank of America? My seller is a young couple. They received a job transfer but are very upside down on the house. David”

. . . → Read More: Northeast OH Short Sales: Will Bank Of America Approve Short Sales With No Deficiency?

Northeast OH Short Sales: Are Banks Playing Games With Their Financials?

Northeast OH – Some experts speculate that banks don’t like to approve short sales or loan modifications. Here is why they think that.

They think that lenders are reluctant to speed up short sales or loan mods because they want to hold off the day of reckoning. Let me explain.

Click here to discover . . . → Read More: Northeast OH Short Sales: Are Banks Playing Games With Their Financials?

Northeast OH Short Sale Q & A: The Second Mortgage Wants More Than The First Mortgage Will Give Them

Northeast OH – The Stop Foreclosure Institute recently received a question from Aggie. Here was Aggie’s Question.

“We received a short sale approval on the 1st. They will only pay the second mortgage $3,000. The problem is that the second mortgage wants $5,500.

We are arguing back and forth with the second mortgage. The . . . → Read More: Northeast OH Short Sale Q & A: The Second Mortgage Wants More Than The First Mortgage Will Give Them

The Second Step In Fixing The Flawed Northeast OH Short Sale Process

Northeast OH – In our last post, we agreed that the first step in fixing the flawed short sale process is to acknowledge what the problem is.

We agreed that the problem is that the lenders and investors are losing billions on defaulted loans.

In addition, American Homeowners are losing billions on declining home . . . → Read More: The Second Step In Fixing The Flawed Northeast OH Short Sale Process

Northeast Ohio Short Sales: This Short Sale Negotiator Isn't Doing His Job

Northeast OH – Here is a question that the Stop Foreclosure Institute recently received. “I am in the middle of a very long negotiation with Chase.

The seller had me to put a clause into the contract stating “upon approval of short sale by sellers’ lender, lenders, & or affiliates, client, or heirs . . . → Read More: Northeast Ohio Short Sales: This Short Sale Negotiator Isn’t Doing His Job

How to Avoid Short Sale Fraud

How do you know you can trust the person helping you out? The best thing you can do is work with a state licensed agent or broker like me who specializes in the short sale. Call me at 216-324-6637.

In the short sale news radar a bunch of articles have popped up . . . → Read More: How to Avoid Short Sale Fraud

2010 The Year of The Short Sale- Breaking news! – Supplemental Directive 09-09

Is your home upside down? Do you feel locked in your home? There is good news!

Reuters reported, Treasury sets guidance to simplify “short sales”. The HAMP website released “Supplemental Directive 09-09” which is the new guidelines for servicers doing short sales (HAFA short sale details here – HAFA means Home Affordable . . . → Read More: 2010 The Year of The Short Sale- Breaking news! – Supplemental Directive 09-09