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Northeast OH Short Sale Question: Can I Short Sale If My House Is Already In Foreclosure?

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

“I would like to short sale my house. However, the foreclosure has already started. I don’t know how soon the bank is going to come and kick me out.

Can I still short sale? Or, is it . . . → Read More: Northeast OH Short Sale Question: Can I Short Sale If My House Is Already In Foreclosure?

Northeast Ohio Short Sales: The Average Homeowner Can Live 492 Days Rent Free

Northeast OH – According to the Wall Street Journal [1], the average homeowner with a home in foreclosure hasn’t made a payment in 492 days. What’s even crazier is that those homes are still in the foreclosure process.

That means that a homeowner can live rent free for even longer than 492 days. . . . → Read More: Northeast Ohio Short Sales: The Average Homeowner Can Live 492 Days Rent Free

New program: Keep your home lower your mortgage balance!

The Wall Street Journal and news outlets have released information on a new program to keep your home and lower your payments.

The full details have not been released but it is an overhaul of the HAMP program that will have some of the following options:

1. A new option in HAMP that allows . . . → Read More: New program: Keep your home lower your mortgage balance!

So you are under water?

Feel like this is your house? Short sales do work if you have your expections set correctly!

This article on from the Wall Street Journal appeared on my radar: “So You Are Underwater What Is Next?” It discusses different options for those underwater and mentions the ethical dilemma that those who could . . . → Read More: So you are under water?

Wells Fargo picks and prays re pick and pays

The Wall Street Journal had on article here about Wells Fargo’s loan modification strategy for it’s portfolio of negative amortization “pick a pay” loans which allowed owners to make interest only payments or even less while the balance would grow and while equity has shrunk… especially in this market.  Wells Fargo has nearly $107 . . . → Read More: Wells Fargo picks and prays re pick and pays