Twitter Counter

Northeast OH Short Sales: A Short Sale Success Story

Northeast OH – Here is a success story about a short sale that the Stop Foreclosure Institute worked on. We recently closed this short sale and helped the seller avoid a big deficiency judgment.

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

Ed & Cathy bought their . . . → Read More: Northeast OH Short Sales: A Short Sale Success Story

Don’t Accept A Promissory Note When You Short Sale Your USA Home

Northeast OH – Many lenders ask for a promissory note on short sales. This is especially true if the lender has Private Mortgage Insurance (also called PMI) that has to approve the short sale.

The PMI companies know that homeowners will do anything to protect their credit when they are short selling their home.

. . . → Read More: Don’t Accept A Promissory Note When You Short Sale Your Northeast OH Home

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

Northeast OH Short Sale Question: Will I Wipe Out The Debt When I Short Sale?

Northeast OH – The Stop Foreclosure Institute recently received a question from Kevin. Here was his question.

“I am upside down on my house. I owe over 700k and I have been told that it is now worth under 400k. I just hate to think how much it will cost me over the long . . . → Read More: Northeast OH Short Sale Question: Will I Wipe Out The Debt When I Short Sale?

The Biggest Mistake Buyers Make When Buying A Short Sale

Northeast OH – We get all sorts of questions from buyers trying to purchase short sales. “We made an offer on a short sale almost 2 months ago. We haven’t heard anything back from the bank. Why won’t they approve my offer?”, they ask us.

Click here to discover how other sellers successfully did . . . → Read More: The Biggest Mistake Buyers Make When Buying A Short Sale

Northeast OH Short Sale Help: Another short sale almost killed by lender incompetence

Northeast OH – We have seen many instances where a short sale that should have been approved was denied. If your short sale realtor doesn’t know what they are doing, then you might get stuck with a promissory note that you don’t deserve.

Click here to discover how other sellers successfully did a short sale . . . → Read More: Northeast OH Short Sale Help: Another short sale almost killed by lender incompetence

Northeast OH Short Sales: Questions to ask before hiring a short sale agent

Northeast OH – The right agent can make the difference between success and failure on your short sale. You risk losing a lot when your agent doesn’t understand short sales. The short sale can be denied and the home foreclosed. Then you have to wait five years to buy another house. Or, the lender may . . . → Read More: Northeast OH Short Sales: Questions to ask before hiring a short sale agent

How To Escalate The File On A Northeast OH Short Sale

Northeast OH – The Stop Foreclosure Institute recently received an email from Mercedes. Here was her question.

“I need your help on how to escalate a file with Chase. Twelve months and still Chase claims the loan owner, Freddie Mac, will not help with buyer’s closing costs, wants a $36,000 promissory note or $15,000 . . . → Read More: How To Escalate The File On A Northeast OH Short Sale

Northeast OH Short Sales: Why Won’t My Lender Allow Me To Walk Away With No Deficiency?

Northeast OH – The Stop Foreclosure Institute recently received a question from James. Here was his question.

“We are in the middle of a very long negotiation with a large national lender.

I had my agent put a clause into the contract stating “upon approval of short sale by sellers’ lender, lenders, & or . . . → Read More: Northeast OH Short Sales: Why Won’t My Lender Allow Me To Walk Away With No Deficiency?

Northeast OH Short Sale Question About Deficiencies

Northeast OH – The Stop Foreclosure Institute recently received a question from Chris. Here was his question.

“I just got an approval from a large national lender this morning and the approval letter stated the following: “Promissory Note of 0.00.” What does a Promissory Note of 0.00 imply?

It shows the promissory note of . . . → Read More: Northeast OH Short Sale Question About Deficiencies