Twitter Counter

A Common Northeast OH Loan Mod Mistake

Northeast OH – The Stop Foreclosure Institute recently received a question from a person attempting a loan modification on their home. Here was their question.

“I have a first mortgage for $197,000. That was my original loan from when I bought my home. I borrowed $250,000 on a second mortgage for a remodel.

My . . . → Read More: A Common Northeast OH Loan Mod Mistake

Northeast OH Short Sale: Can I Rent My Home If It Is In Foreclosure?

Northeast OH – The Stop Foreclosure Institute recently received a question about renting a home in foreclosure.

Short Sale Question: I am selling 2 of homes that are short sales. I would like to rent the homes during the foreclosure process. I will continue to pay the home owners association fees. I will . . . → Read More: Northeast OH Short Sale: Can I Rent My Home If It Is In Foreclosure?

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

Three Ways To Reduce Your Northeast OH Short Sale Deficiency

Northeast OH – No one wants a deficiency on a short sale. It’s not your fault the housing market crashed. In fact, some people say that the banks and Wall Street are what caused the crash.

Get my Free, Step By Step Loan Modification Guide by clicking here.

Here are four ways that you . . . → Read More: Three Ways To Reduce Your Northeast OH Short Sale Deficiency

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

Northeast OH Short Sales: What Do Lenders Consider A Legitimate Hardship For A Short Sale?

Northeast OH –We had a question about FHA short sales yesterday. We did some research on FHA short sales as a result. We stumbled upon something interesting. 

We have a list of all of the things that FHA considers legitimate hardships for a short sale. Click here to view the actual list from FHA. . . . → Read More: Northeast OH Short Sales: What Do Lenders Consider A Legitimate Hardship For A Short Sale?

Fixing Credit After A Northeast OH Short Sale Step 10: Maintaining Good Credit

Northeast OH – If you have a foreclosure or short sale on your credit report, then it will lower your credit score quickly. In the near term, the decrease will be much more than it will be a few months down the road when it starts to inch its way back up.

Get my . . . → Read More: Fixing Credit After A Northeast OH Short Sale Step 10: Maintaining Good Credit

Northeast OH Short Sale Myth: I Have To Go Thru The Loan Mod Process Before I Can Short Sell

Northeast OH – The Stop Foreclosure Institute recently received a question from Tonia about short sales. Apparently Tonia has been mislead by her lender.

Get my Free, Step By Step Loan Modification Guide by clicking here.

Here is Tonia’s question about short sales. “I’ve been trying to sell my house for over a year . . . → Read More: Northeast OH Short Sale Myth: I Have To Go Thru The Loan Mod Process Before I Can Short Sell

Northeast OH Short Sale Myth: If I Sell For More, Then I Won’t Have A Deficiency

Northeast OH – Some sellers think that if they sell their house for more money, then they are less likely to have a deficiency. Let me explain why that is not true.

Get my Free, Step By Step Loan Modification Guide by clicking here.

Another realtor recently told us about a short sale they . . . → Read More: Northeast OH Short Sale Myth: If I Sell For More, Then I Won’t Have A Deficiency

Yes, a Northeast OH Short Sale May Actually Help Your Credit

Northeast OH – The Stop Foreclosure Institute recently received an e-mail from a recent short sale seller. We had helped him short sale his house.

Get my Free, Step By Step Loan Modification Guide by clicking here.

Here is his e-mail.

“Hi, I hope all is well. I am getting back to you . . . → Read More: Yes, a Northeast OH Short Sale May Actually Help Your Credit