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With Home Prices Dropping, In Many Parts of Northeast OH It Is Cheaper to Own Than Rent

Northeast OH – The good news about the housing bust is that home prices are now more affordable. It is now cheaper to buy versus renting in many areas.

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

“At the peak of the real estate bubble, cities like . . . → Read More: With Home Prices Dropping, In Many Parts of Northeast OH It Is Cheaper to Own Than Rent

Who Benefits From A Northeast OH Short Sale?

Northeast OH – Even though lenders pretend to hate short sales, they actually benefit from short sales. Let me explain why.

A lender gets to sell the house at today’s price, versus what it will be worth 6-12 months down the road. We just did a comparison and pulled up sold listings.

All of . . . → Read More: Who Benefits From A Northeast OH Short Sale?

A Common Northeast OH Short Sale Marketing Mistake: Not Using the MLS Properly

Northeast OH – This MLS Mistake could cause the right buyer to never look at your home in the first place. The Multiple Listing Service (MLS) is the first place an agent representing a buyer is going to look for homes for sale.

Click here to discover how other sellers successfully did a short . . . → Read More: A Common Northeast OH Short Sale Marketing Mistake: Not Using the MLS Properly

Northeast OH Short Sale: My Lender Is Charging The Buyer A Fee To Buy My House

Northeast OH – The Stop Foreclosure Institute recently received a question from Brandon. Brandon is selling his house and something very interesting happened.

Brandon’s Question: “My loan is with American Home Mortgage (AHMSI for short.) They are charging a 1% short sale processing fee to the buyer. Is that legal? The buyer is upset. . . . → Read More: Northeast OH Short Sale: My Lender Is Charging The Buyer A Fee To Buy My House

Northeast Ohio Short Sales: Another Example Of Lenders Attempting To Abuse Their Power

Northeast OH – The Stop Foreclosure Institute recently received a question from Durry. Here was Durry’s Question.

“We have American Home Mortgage Servicing, a loan processor for a Mortgage held by Deutche Bank, adding a 1% “processing fee” that ONLY the buyer can pay at closing.

This was never revealed until we received the . . . → Read More: Northeast Ohio Short Sales: Another Example Of Lenders Attempting To Abuse Their Power

What You Should Look For In A Buyer Of Your Northeast Ohio Short Sale Property

Northeast OH – Short Sales can be tough. Many buyers don’t understand the process and think that since it is a buyer’s market, then they set the rules. That’s not the case.

You, the seller set the rules. After all, you still own the property. But, more importantly, you must set the rules for . . . → Read More: What You Should Look For In A Buyer Of Your Northeast Ohio Short Sale Property

Northeast Ohio Short Sales:Is this a reasonable offer from a buyer of a short sale property?

Northeast OH – Some buyers think that since it is a buyer’s market, then they can make any crazy demand of a seller. And they can’t understand when the seller isn’t excited by their lowball offer.

Here is an example of a recent story where this happened. A buyer makes an offer on a . . . → Read More: Northeast Ohio Short Sales:Is this a reasonable offer from a buyer of a short sale property?

Northeast Ohio Short Sales: Why Should I Pay A Mortgage That Is Twice As Much As My Home Is Worth?

Northeast Ohio – The Stop Foreclosure Institute recently received a question from Luis. Here is Luis’s Question.

“I am working on a loan modification on my home. I just don’t want to be upside down and want a fair interest rate. Why should I pay on a mortgage that is twice as much . . . → Read More: Northeast Ohio Short Sales: Why Should I Pay A Mortgage That Is Twice As Much As My Home Is Worth?

Northeast Oh Short Sales: If I do a Short Sale will I be able to buy another house?

Yes, you can Short Sale and by another home.

Northeast OH – We get this question a lot from people. “I am upside down and need to move. I would like to buy another home. Can I do that?” they ask us.

Today they can. FHA (the Federal Housing Administration) has a . . . → Read More: Northeast Oh Short Sales: If I do a Short Sale will I be able to buy another house?

Should I talk to my realtor about a short sale?

Northeast OH – The Stop Foreclosure Institute recently received a question from Jennifer. She is having a hard time selling her home.

“I have had my house for sale for a little while, but it hasn’t sold. No buyers have come to look at it. At first I thought the price was fair. . . . → Read More: Should I talk to my realtor about a short sale?