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Northeast OH Short Sale Myth: It Is Very Difficult To Get A Bank To Approve A Short Sale

Northeast OH – Short sales are difficult when you do not know what you are doing. But, they aren’t as difficult as people say.

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

Here are the three keys to getting a short sale approved.

#1: Follow up. . . . → Read More: Northeast OH Short Sale Myth: It Is Very Difficult To Get A Bank To Approve A Short Sale

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

Northeast OH Short Sale Myth: Short Sales Are Always Sold Below Market Value

Northeast OH – Some people think that short sales represent a bargain in the real estate world. Some people have said that banks sell short sales for below market value because they want to avoid foreclosure.

That isn’t true. Yes, banks do prefer to sell a property in foreclosure as a short sale. They . . . → Read More: Northeast OH Short Sale Myth: Short Sales Are Always Sold Below Market Value

A Common Northeast OH Short Sale Myth: The Short Sale File Has To Be Perfect Before You Can Submit It To The Lender

Northeast OH – Many agents think that a short sale lender will not look at a file until the short sale file is perfect.

“I need your financial information, last 2 years of tax returns, last 2 pay stubs, last 2 month’s bank statements, and all the other short sale paperwork before I can . . . → Read More: A Common Northeast OH Short Sale Myth: The Short Sale File Has To Be Perfect Before You Can Submit It To The Lender

Northeast OH Short Sale Myth: There Are No Rules Or Guidelines For Short Sales

Northeast OH – I recently saw an article written by a prominent, so called short sale expert. In the article, this supposed expert says the only rules for short sales are HAFA, but even those rules are subject to interpretation.

That is like saying that there are no traffic laws. If that were the . . . → Read More: Northeast OH Short Sale Myth: There Are No Rules Or Guidelines For Short Sales

Northeast OH Short Sale Myth: Anyone Can Negotiate With The Lender

Northeast OH – Yes, many people think they can negotiate with the lender. But, some of them don’t have the skills necessary to be successful.

Here are a few of the things someone needs before they can negotiate a short sale.

Click here to discover how other sellers successfully did a short sale and . . . → Read More: Northeast OH Short Sale Myth: Anyone Can Negotiate With The Lender

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

Common Northeast OH Short Sale Myth: Selling My House As A Short Sale Is An Embarrassment

Northeast OH – You might think it is an embarrassment to sell your home as a short sale. “My friends will laugh at me when they realize that I owe more on my house than it is worth”, some people think.

The reality is that many Americans are in your same position. In fact, . . . → Read More: Common Northeast OH Short Sale Myth: Selling My House As A Short Sale Is An Embarrassment

Northeast OH Short Sale Myth: I will have a deficiency no matter what happens

Northeast OH – Some homeowners looking to short sell their home think that they will have to repay their lender for the entire loss. It’s unfortunate to see them stress out and lose sleep at night wondering how they will repay the debt.

A short sale loss is usually a large bill for the . . . → Read More: Northeast OH Short Sale Myth: I will have a deficiency no matter what happens

Northeast OH Short Sale Myth: The bank wants a deficiency on the short sale so I can get out of it by letting them foreclose

Northeast OH – Most people short selling their home do not want to repay the deficiency. And in most cases, the lender allows them to walk away with no deficiency.

But, that is not always the case. Some banks are very pushy when it comes to the deficiency. They won’t approve the short sale . . . → Read More: Northeast OH Short Sale Myth: The bank wants a deficiency on the short sale so I can get out of it by letting them foreclose