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Northeast OH Short Sales: Bank of America Still Has Huge Problems

Northeast OH – In 2010, an agent I know talked to the person at Bank of America in charge of the Loss Mitigation Department.

He was the top manager in the department that handles short sales, loan modifications, and foreclosures. He contacted this agent because agents were banding together to educate the public on . . . → Read More: Northeast OH Short Sales: Bank of America Still Has Huge Problems

Northeast OH Short Sales: Drawbacks To Bank Of America's New Short Sale Program

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

Northeast OH Short Sales: Why Might a Short Sale Be Preferred Over a Loan Modification?

Northeast OH – Homeowners who would prefer to get out from underwater may prefer to do a short sale compared to a loan modification.

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

A short sale means the bank will accept a reduced payoff and release the loan. . . . → Read More: Northeast OH Short Sales: Why Might a Short Sale Be Preferred Over a Loan Modification?

Northeast OH Short Sales: What Else Goes Into a Hardship Letter?

Northeast OH – You should put every little thing you have to show that your situation is real and that you cannot afford to make your mortgage payment.

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

Use numbers and percentages to explain the loss your of income or . . . → Read More: Northeast OH Short Sales: What Else Goes Into a Hardship Letter?

Northeast OH Short Sales: Do Not Pay Any Upfront Fees To Anyone

Northeast OH – Most state governments have determined that the practice of offering consulting services to those with delinquent mortgages presents an opportunity for abuse.

You don’t need to pay any consulting fees to get the help that you need to resolve your unpaid loan.

Click here to discover how other sellers successfully did a . . . → Read More: Northeast OH Short Sales: Do Not Pay Any Upfront Fees To Anyone

60 Minutes and The Housing Market – How Does Short Sales in Northeast OH Fit In?

Northeast OH– Very few people disagree that banks are not handling the housing crisis properly. Why is it so hard to get a reasonable loan modification?

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

Pollution is defined as the following by Wikipedia: “Pollution can be a simple . . . → Read More: 60 Minutes and The Housing Market – How Does Short Sales in Northeast OH Fit In?

Northeast OH Short Sales Are Improving

Northeast OH – We recently saw something positive on short sales with Bank of America. Bank of America recently sent out an email stating that you can no initiate the short sale process without a buyer.

The agent can start the process and get things going before a buyer makes an offer to purchase . . . → Read More: Northeast OH Short Sales Are Improving

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

Northeast OH Short Sales: An Ounce Of Prevention Is Worth A Pound Of Cure

Northeast OH – The agent you hire to short sale your house should know how to “influence the BPO.”

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

The BPO is another agent’s opinion of the value of your home. The bank will willingly sell your home on . . . → Read More: Northeast OH Short Sales: An Ounce Of Prevention Is Worth A Pound Of Cure

Northeast OH Short Sales: Loan Modification Loss Comparison Calculator

Northeast OH – If you are looking to convince your lender to approve your loan modification, then here is a tool you might find useful.

Here is a sample calculator you can use to convince your lender to approve your loan modification.

Click here to discover how other sellers successfully did a short sale . . . → Read More: Northeast OH Short Sales: Loan Modification Loss Comparison Calculator