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When A Bank Should Approve A Northeast OH Short Sale Offer

Northeast OH – A bank should approve a short sale when it makes the best financial sense to do so. Here is a little known fact. About 80% of all loans are not owned by the bank handling them.

That means that someone else is going to lose money if your bank rejects the . . . → Read More: When A Bank Should Approve A Northeast OH Short Sale Offer

Northeast OH Short Sales: How To Find Out Who Owns The Loan So You Can Hold Your Bank Accountable

Northeast OH – In our last post, we talked about how you could contact the entity that owns a loan. But, some people were wondering how they could find out who owned their loan.

“I thought ABC Bank owned my loan. I send them a payment every month”, they told us. Well, here is . . . → Read More: Northeast OH Short Sales: How To Find Out Who Owns The Loan So You Can Hold Your Bank Accountable

Why Be Responsible When You Can Get A Bailout?

Northeast OH – Why does a British Bank do a better job than the American Banks?

We have always liked short sales with HSBC. They respond promptly and are easy to work with. The bottom line is that they do a solid, competent job handling short sales and loan modification.

I think the reason . . . → Read More: Why Be Responsible When You Can Get A Bailout?

When A Bank Should Approve A Northeast OH Short Sale

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

A bank should accept your short sale when the following rules apply. All banks and servicers have a fiduciary duty to the investor of the loan.

If they own the loan themselves, they have a fiduciary duty to . . . → Read More: When A Bank Should Approve A Northeast OH Short Sale

When A Bank Should Accept A Buyer's Offer To Buy A Northeast OH Short Sale

Northeast OH – A bank should accept your short sale when the following rules apply. All banks and servicers have a fiduciary duty to the investor of the loan.

If they own the loan themselves, they have a fiduciary duty to their stockholders. The duty is to get that investor the most money possible.

. . . → Read More: When A Bank Should Accept A Buyer’s Offer To Buy A Northeast OH Short Sale

Northeast OH Short Sale Q & A: The Second Mortgage Wants More Than The First Mortgage Will Give Them

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

“We received a short sale approval on the 1st. They will only pay the second mortgage $3,000. The problem is that the second mortgage wants $5,500.

We are arguing back and forth with the second mortgage. The . . . → Read More: Northeast OH Short Sale Q & A: The Second Mortgage Wants More Than The First Mortgage Will Give Them

Northeast Ohio Short Sales: Lenders Loses 50k Turning Down Short Sale

This bank's stockholders are probably unhappy after losing $50,000 over incompetence

Northeast OH – I have a good story today about another bank losing their shirt because their short sale process is so tough to work with.

The bank in question is a large, . . . → Read More: Northeast Ohio Short Sales: Lenders Loses 50k Turning Down Short Sale