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What The Big Banks Don’t Want You To Know About Northeast Ohio Short Sales

Northeast OH – Here is a shocking fact that most of the American Public doesn’t know. Most mortgages are not owned by banks.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

In addition, most of the huge losses on bad mortgages was not lost by the banks themselves. Instead, the biggest loser was Uncle Sam, thru the takeover of Fannie Mae and Freddie Mac.

Most mortgages are sold after they are made. We estimate that around 75-80% of all mortgages were sold before the housing crisis.

This means that the large lenders didn’t take the hit on the bad mortgages they originated. Instead, Uncle Sam often took the hit.

Another large buyer of mortgages were pension funds and retirement funds. Do you think the Average American was fleeced by Wall Street?

But, here is something even more appalling. It appears that they are still being fleeced by the big banks. You see, those were sold to Uncle Sam or a pension fund.

However, in many cases those mortgages are still being handled by the original entity that made the bad loan. They are required to act in the loan owner’s best interest.

But, in many cases the lenders are not doing a good job trying to maximize the return on defaulted mortgages.

Remember yesterday’s blog post about the lender charging a 1% fee to the home buyer on a short sale? That fee only reduced what the loan owner was able to get for the bad mortgage. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at iandymorris@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (216) 324-6637

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Northeast Ohio loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (216) 324-6637. iandymorris@gmail.com.

View My homes for sale at www.rtserve.com.

Andy Morris specializes in loan modification assistance and short sales in Northeast Ohio. Northeast Ohio Loan Modification Help, Northeast Ohio Short Sales, Northeast OH Short Sale Realtor, Rocky River Short Sales. Rocky River Loan Modification Help, Rocky River Short Sale Realtor, Bay Village Loan Modification Help, Bay Village Short Sales, Bay Village Short Sale Realtor. Avon OH Loan Modification Help. Avon OH Short Sales. Avon OH Short Sale Realtor. Avon Lake Loan Modification Cleveland Short Sale Realtor. Northeast OH Short Sales. Northeast OH Realtor.

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