Twitter Counter

One Lender That Is Fun To Work With On Northeast OH Short Sales

Northeast OH – We recently closed another short sale. This short sale lender was so much more fund to work with than most lenders. The loan was owned by Household Finance, which is a division of the international lender HSBC.

We were assigned a short sale negotiator about 30 days after we submitted the . . . → Read More: One Lender That Is Fun To Work With On Northeast OH Short Sales

USA Short Sale Deficiencies On

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?

A Common Northeast OH Short Sales: The Most Common Types Of Loan That Do Not Require A Deficiency

Northeast OH – OK, let’s talk about the most common types of loans that do not require a deficiency on a short sale. The first common loan type is a Fannie Mae or Freddie Mac loan.

I’ll call them Fannie & Freddie in this post. Freddie & Fannie are different quasi-governmental entities that own . . . → Read More: A Common Northeast OH Short Sales: The Most Common Types Of Loan That Do Not Require A Deficiency

Yes, I Do Think A Northeast OH Loan Modification Is The right Thing To Do

Northeast OH – I received a note the other day from Andrew. He was upset that I would tell people that are upside down on their house to ask for a principal reduction from their lender. Here was his email.

Click here to discover how other sellers successfully did a short sale and avoided . . . → Read More: Yes, I Do Think A Northeast OH Loan Modification Is The right Thing To Do

A Fourth Common Northeast Short Sale Myth: There Can Be No Liens On The Property

Northeast OH – This is the fourth inaccuracy I have seen in an article about short sales. I was this article online and noted 7-8 big inaccuracies.

You can’t get solid and accurate information on short sales unless you talk to an agent that has sold a few short sales.

Click here to discover . . . → Read More: A Fourth Common Northeast Short Sale Myth: There Can Be No Liens On The Property

Northeast OH Short Sales: Why The Lack of Accountability Has Hurt The Housing Market & US Economy

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

Northeast OH Short Sales: How To Keep Your Home With A Forbearance Agreement

Northeast OH – With a forbearance agreement, your bank agrees to hold back on its legal right to exercise foreclosure on you. They do this by coming up with a plan to bring you current on your mortgage payments after giving you some kind of a breather period.

Click here to discover how other sellers . . . → Read More: Northeast OH Short Sales: How To Keep Your Home With A Forbearance Agreement

Why A Northeast OH Short Sale Is A Win-Win For Everyone

Northeast OH – While doing a real estate transaction, not all parties with a financial interest can be winners. However, a successful short sale is one of those rare cases where everyone leaves a winner.

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

The Seller wins by avoiding . . . → Read More: Why A Northeast OH Short Sale Is A Win-Win For Everyone

Northeast OH Short Sale Myth: Banks Aren't Approving Short Sales Because They Don't Want To Take Big Losses

Northeast OH – This is another short sale myth we’ve seen tossed around. Some people in the media even suggested that banks were delaying foreclosures to delay losses being recorded on their books.

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

Here is what I think is . . . → Read More: Northeast OH Short Sale Myth: Banks Aren’t Approving Short Sales Because They Don’t Want To Take Big Losses

A Common Northeast OH Short Sale Myth: Short Sales Are Adversarial

Northeast OH – Many people mistakenly think that a short sale is adversarial. “I will fight that banker and convince them to let me short sale and walk away from the upside down debt”, they think to themselves.

That is not how short sales actually work. Most negotiations are not adversarial. In fact, most . . . → Read More: A Common Northeast OH Short Sale Myth: Short Sales Are Adversarial