housebyzip: Why A Short Sale Is A Win-Win For Everyone
- 03/13/12 09:47 PM
IL – While doing a real estate transaction, not all parties with a financial interest can be winners. However, a successful short sale is one of those rare cases where everyone leaves a winner. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. The Seller wins by avoiding foreclosure: This will also help the seller to avoid any credit damage that goes along with foreclosure. In essence, the property is sold and the seller's lender pays all the costs associated with the sales process. In most cases, the seller cam move on with their life … (1 comments)
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housebyzip: Short Sales: Forensic Audits Exposed
- 01/09/12 08:13 AM
IL – If you are thinking of short selling your house, then you have probably about forensic loan audits. Some claim they are wonderful. "Your lender will approve your short sale right away", one so called expert claimed. "Your lender is more likely to give you a loan modification after you discover they broke the law. And most loans were illegal during the crazy lending period we experienced recently", claims another. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Even more insane is the guy who claims, "Lenders will jump over themselves to approve … (0 comments)
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housebyzip: Trying To Short Sale Your Home, But Worried The Lender Might Foreclose On It First? Try This.
- 01/09/12 08:13 AM
IL – Short sales can drag out. It takes 1-2 months to sell the house. Then, the short sale negotiations start. They can drag out for 3-6 months. In the meantime, if you aren’t paying on the mortgage, then the lender will be trying to foreclose on the house. Here is a tactic you can use to delay the foreclosure process and even stop a foreclosure sale. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here is a story from Alberto where he explains what to do. "Here is what I had to do. … (0 comments)
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housebyzip: Short Sales: Does escalating the file even work?
- 01/09/12 08:12 AM
IL – The Stop Foreclosure Institute recently received a question from Katie. Here was her question. I am an agent and I am helping someone short sell their house. X Lender (to remain unnamed) claims that they have sent a short sale package to the seller a couple of times. But, they haven’t because my customer has never received anything. What can I do? They won’t start the short sale process until they receive the filled out package back from the seller. Katie.” Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here was our … (1 comments)
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housebyzip: Short Sale Question: Can I Short Sale If My House Is Already In Foreclosure?
- 01/09/12 08:12 AM
IL – 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 to late? Dave.” Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here is the answer to his Question. Dave, yes you can still short sale your house. It does depend on how far along you are in the foreclosure process. You … (0 comments)
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housebyzip: Short Sales: Should I renew my insurance when I am short selling my house?
- 01/09/12 08:11 AM
IL – The Stop Foreclosure Institute recently received a question from Chuck. Here was his question. “I'm trying to short sale. I received a note from my Insurance agent that my Homeowners insurance will be cancelling as of this month because the insurance company went under. My insurance agent told me that he can place me with the State run insurance agency for $1,900.00, but I will have to pay the money by the end of the month. I do have $924 in my lender’s escrow account. What do you think I should do? Chuck.” Click here to discover how other … (0 comments)
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housebyzip: Short Sales: What makes a good short sale realtor?
- 01/09/12 08:11 AM
IL – A good short sale realtor will mean the difference between success and failure on your short sale. Here are the qualities that make a good, effective short sale realtor. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Persistence. Short sales are frustrating. Many times you will feel like giving up. Many times you will feel like you have finished the task. The short sale will be approved. Then, the lender tells you that they need a certain document signed by all parties. They won’t approve the short sale until they have that … (0 comments)
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housebyzip: Short Sales: Why Is This Lender Lying To This Homeowner?
- 12/02/11 09:59 PM
IL – The Stop Foreclosure Institute recently received a question from David. Here was his question. “My lender ******** Bank verbally told me that my short sale was approved. However, now they are now telling me that Fannie Mae did not approve the sale. They gave me an option to pay $3,000 upfront and to agree to pay off deficiency. I just cannot afford this option. The pay off amount on the mortgage is $122,000. The buyer is offering $99,000. The bank’s appraiser said the house is worth $92,000. The Buyer has been waiting to buy the house for 11 months. … (1 comments)
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housebyzip: Short Sales: More Reasons Why Short Sales Fail
- 12/02/11 09:59 PM
IL – We recently gave a couple of common reasons that short sales fail. Today, we will go thru a few more reasons. (To recap, here were the reasons we put in our previous blog post. Reason #1: The sales price is lower than the lender wants. The lender thinks the home is worth more than it is selling for and won’t approve the short sale unless the price is for the value they have. Reason #2: The tenant doesn’t allow the home to be showed. Many tenants do not want the home to be shown to buyers because they will … (1 comments)
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housebyzip: Short Sale Myth: Anyone Can Negotiate With The Lender
- 12/02/11 09:58 PM
IL – Yes, many people think they can negotiate with the lender. But, some of them don’t have the skills necessary to be successful. Here are a few of the things someone needs before they can negotiate a short sale. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. They must have the ability to understand HUD-1 Closing Statements. The lenders will want a copy of the closing statement, also call a HUD-1. Most people in the lender’s short sale departments are very familiar with HUD-1s. The person negotiating with you will need to answer … (0 comments)
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housebyzip: Who Pays The Costs In A Short Sale?
- 12/02/11 09:58 PM
IL – You may wonder why a sales contract says the seller pays for certain costs and yet the bank covers the costs. Here is how it works. The sales contract may have a certain clause say: “Seller to pay title and seller’s documentary stamp taxes.” How does the bank pay that cost if it says the seller is paying it? Click here to discover how other sellers successfully did a short sale and avoided foreclosure. In traditional real estate (non short sale), certain costs are normally paid by the seller and other costs by the buyer. For example, the seller … (0 comments)
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housebyzip: Short Sale Myth: There Are No Rules Or Guidelines For Short Sales
- 11/29/11 09:00 PM
IL – I recently saw an article written by a prominent, so called short sale expert. In the article, this supposed expert says the only rules for short sales are HAFA, but even those rules are subject to interpretation. That is like saying that there are no traffic laws. If that were the case, then everyone could drive 100 MPH and never get a ticket. That is like saying that the court system has no rules. (Go ask a judge or lawyer and you’ll find out the truth about that pretty fast.) Click here to discover how other sellers successfully did … (0 comments)
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housebyzip: Is It Better To Buy A Short Sale Or Wait Until After The Bank Has Foreclosed?
- 11/29/11 09:00 PM
IL – Some people think they can go around a homeowner and buy a home directly from the bank. “The seller has to submit our offer to the bank because the bank owns the house”, they tell us. They assume that they can sidestep the seller and buy the house directly from the bank. The truth is that until the bank forecloses on the house, the seller owns it and they are in the driver’s seat. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. If the seller works with another buyer on a short … (0 comments)
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housebyzip: Short Sales: Is My Hardship Legitimate For A Short Sale?
- 06/16/11 12:19 AM
IL – The Stop Foreclosure Institute recently received a question from Dan. Here was Dan’s Question. "I recently purchased another home and tried to sell my former home. It isn’t selling and I can’t afford to make both payments. The home won’t rent for even 1/2 of the mortgage payment. An agent told me the house is worth about $50K under the mortgage amount. Is it realistic for me to try the short sale? The only hardship created was when I decided to move to a larger home for family. Dan." Get my Free, Step By Step Loan Modification Guide by … (0 comments)
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housebyzip: How A Short Sale Helps Preserve Neighborhood Values
- 06/16/11 12:17 AM
IL – Yes, short sales actually help preserve home values in a neighborhood. Here is why. Most people short sell their home while they are still living in the home. They are maintaining the home, mowing the yard, keeping the air conditioning on, etc. Most bank owned properties are empty for 3-6 months, if not longer. No one maintains the home during that time period. Empty homes are easy targets for vandalism and thieves. Get my Free, Step By Step Loan Modification Guide by clicking here. The grass and yard get overgrown. Pools deteriorate and the water turns green with algae. … (1 comments)
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housebyzip: Another Common Short Sale Myth: The Foreclosure Process Goes So Fast That I Don’t Have Time To Short Sale
- 06/16/11 12:15 AM
IL – The Stop foreclosure Institute recently received a question from Susan about short sales. Here was Susan’s Question. “My home is scheduled to be going on the courthouse steps in about 2 months. I had thought about short selling, but a friend told me I wouldn’t have enough time to do it. Because of that I didn’t pursue a short sale earlier. Recently I decided to look into it further. It looks like a good option compared to foreclosure. My question is this. Do I have enough time to short sale my house, or is the foreclosure already too far … (0 comments)
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housebyzip: Short Sales: My Ex Is Short Selling. What Can I Do?
- 06/16/11 12:13 AM
IL – The Stop Foreclosure Institute recently received a question from Tom about short sales. Here was Tom’s Question. “My Ex-wife decided to Short Sell our former house. Unfortunately we both signed the mortgage when we bought the house together. I think that means I am still liable for the debt. She got the home after the divorce. The court gave her the home in the divorce. The market has declined and the house is worth about 120k less than the mortgage amount. I have a good job and some assets. Will I have to pay back the bank ofr the … (1 comments)
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housebyzip: Three Ways The Big Banks Could Stabilize Housing Prices And Increase Their Profits At The Same Time
- 06/16/11 12:10 AM
IL – Many Americans are concerned about the housing market. If they housing market continues to decline, then it could drag the entire economy with it. At least that’s what some economists are saying. We want to be part of the solution, not part of the problem. So, we decided to propose a solution Here Are 3 Ways The Big Banks Could Stabilize Housing Prices And Increase Their Profits At The Same Time. Get my Free, Step By Step Loan Modification Guide by clicking here. #1: Approve more Loan Modifications. Every loan modification is one less home that has to be … (0 comments)
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housebyzip: Short Sales: Will My Lender Set The Price For My Home?
- 06/16/11 12:08 AM
IL – The Stop foreclosure Institute recently received a question from Steve about short sales. Here was Steve’s Question. “I am interested in a short sale. I just have a few questions about how the process works. Does my lender set the price for the property. And, will that price include the realtor fee? Sincerely, Steve.” Get my Free, Step By Step Loan Modification Guide by clicking here. Here was our answer. Steve, in most cases the lender will not set the asking price for your home. In most cases, the lender does not get involved until after we have an … (0 comments)
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housebyzip: Why Short Sales with 3 or more mortgages are difficult
- 06/16/11 12:06 AM
IL – Are you looking to buy a short sale? Before you make an offer, you need to check and see how many mortgages are on the home. A short sale with only one mortgage is not that difficult. Even an inexperienced agent can often get these approved and sold. Get my Free, Step By Step Loan Modification Guide by clicking here. A short sale with 2 loans becomes much more difficult. You now have to lenders that have to agree with each other. However, an experienced short sale agent can get the two lenders to agree with each other on … (3 comments)
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IL – While doing a real estate transaction, not all parties with a financial interest can be winners. However, a successful short sale is one of those rare cases where everyone leaves a winner. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. The Seller wins by avoiding foreclosure: This will also help the seller to avoid any credit damage that goes along with foreclosure. In essence, the property is sold and the seller's lender pays all the costs associated with the sales process. In most cases, the seller cam move on with their life … (1 comments)
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