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By CarlOrbase, on May 15th, 2012%
Northeast OH – We had a negotiator at Bank of America try to push us around a little while ago. We’ve studied and analyzed all of the short sale guidelines and rules.
This was an FHA loan and therefore would be governed by FHA’s Short Sale Guidelines. This means that the lender must follow . . . → Read More: Northeast OH Short Sales: Why Do Bank Negotiators Break The Rules?
By CarlOrbase, on May 14th, 2012%
Northeast OH – Another common type of loan that does not usually have a deficiency is a “Sliced and Diced” loan. A “Sliced and Diced” loan is a loan that has been securitized along with a bundle of other loans.
Here is how that happened. John gets a loan from ABC Bank. ABC Bank . . . → Read More: Northeast OH Short Sale Deficiencies On “Sliced & Diced Loans?
By CarlOrbase, on May 7th, 2012%
Northeast OH – I am about to explain how the different types of loans impacts whether or not you will have a deficiency after you short sale your house.
But, I first want to bust the common myth that you won’t know if you will have a deficiency until after you have started the . . . → Read More: A Common Northeast OH Short Sale Myth: You Don’t Know If Your Lender Will Want A Deficiency Until We Have Started The Short Sale Process
By CarlOrbase, on March 27th, 2012%
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
By CarlOrbase, on February 27th, 2012%
Northeast OH – The National Consumer Law Center wrote a White Paper on how banks handle loan modifications, short sales and foreclosures.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
They titles their White Paper “Why Servicers Foreclose When They Should Modify and Other Puzzles of Servicer . . . → Read More: Northeast OH Short Sales: Why The Lack of Accountability Has Hurt The Housing Market & US Economy
By CarlOrbase, on February 7th, 2012%
Northeast OH – Despite the fact that the Cooperative short sale may help the borrower leave the home without some of the negative aspects of a foreclosure, it has its drawbacks that you may need to consider before you decide to explore this option. Below are some of the drawbacks:
Click here to discover . . . → Read More: Northeast OH Short Sales: Drawbacks To Bank Of America’s New Short Sale Program
By CarlOrbase, on February 7th, 2012%
Northeast OH – A cooperative short sale may be a good option depending on your situation.
But, you need to remember that Banks are not in the business of making life easier for its customers, much less anyone trying a short sale.
Click here to discover how other sellers successfully did a short sale . . . → Read More: Northeast OH Short Sales: Why Bank Of America Is Offering A New Short Sale Program
By CarlOrbase, on December 5th, 2011%
Northeast OH – In our last post, we ranted about how the bankers do a lousy, incompetent job on short sale and loan modification negotiations.
Here is how you can avoid suffering under their incompetence. The key is to hold your bank accountable. Here’s how to do that.
Click here to discover how other . . . → Read More: Northeast OH Short Sales: How To Hold Your Bank Accountable
By CarlOrbase, on November 14th, 2011%
Northeast OH – Many lenders do not own the loans they handle. Instead, they are paid by the actual loan owner to collect payment.
In my opinion, the banks make millions by understaffing their foreclosure departments? Here’s a real life example. A bank forecloses on a house and waits for over a year to . . . → Read More: Northeast OH Short Sales: Is It Ethical For Lenders To Make Millions At Your Expense?
By CarlOrbase, on October 20th, 2011%
Northeast OH – The biggest threat to your short sale is a high appraisal. Banks consider short sales for economic reasons.
A bank will approve a short sale only if they think they will net more money taking the short sale offer. To make sure they aren’t selling the house for too little, they . . . → Read More: The Biggest Threat To A Successful Northeast OH Short Sale
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