Bergen County NJ – Short sales often get multiple offers from different buyers. Which offer should you accept over the others?

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Most people would assume that you would automatically pick the offer with the highest price. However, this isn’t always a good idea.

The offer with the highest price may have the shakiest financing. Most short sale lender issue a deadline when they approve a short sale. They state that their approval is only good for 30 days.

After 30 days, then they short sale has to be re-negotiated from scratch. That only causes the process to drag out another 2-6 months. So, you want to make sure the buyer’s offer is strong and that their financing is approved.

In this case, a little lower price might be worth considering versus a higher price with an unqualified buyer. Another thing to consider is repairs. Some short sales need repairs before they can be financed.

Most loan programs are for homes in good condition. If your home needs repairs, then most of the buyers won’t get approved for a loan until those repairs are completed. But, not every buyer has lots of cash on hand to make repairs.

Ask your agent for advice on which offer to accept. The offer with the highest price and best qualifications is the one you should pick.

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at jlockard@remax.net. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (201) 825-6600 x343 or on my cell at (201) 674-3114. If you prefer, just fill out the form by clicking the words, Contact Me below:

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

Thinking about a loan modification? Our Bergen County Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, James Lockard.

James is a Real Estate Agent at RE/MAX Properties.

Phone: (201) 825-6600 x 343 Cell: (201) 674-3114. jlockard@remax.net

View My homes for sale at www.BergenCounty-Homes.com.
Find Information about Bergen County Real Estate at:www.BergenCountyRealEstate.info.

James Lockard specializes in loan modification assistance and short sales in Bergen County New Jersey. Bergen County Loan Modification Help, Bergen County short sales, Bergen County Short Sale Realtor, Short Sale Realtor, Bergen County NJ Short Sales, Bergen County Realtor

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

James Lockard, RE/MAX Properties, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Lockard’s personal views and do not reflect the views of RE/MAX Properties.

This information on Bergen County Short Sales: What To Look For In A Buyer’s Offer is provided as a courtesy to our viewers to help them make informed decisions.

Bergen County NJ – The Stop Foreclosure Institute recently received a question from Roberta. Here was her question.

“A company has talked to me about short selling my home to them and they will then rent it back to me. They will allow me to buy it from them after my credit is repaired a few years down the road.

This sounds too good to be true. Am I going to get in trouble with my lender if I do this? Roberta.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to Roberta’s question. I am not a lawyer and can’t provide you with legal advice. I don’t know if you will get into trouble.

But, I don’t think it is a good idea. The banks don’t like it and they all have different rules regulating it. Every bank issues different short sale approval letters.

Most of them state that the owner cannot stay in the home after the sale. What kind of trouble can you get into afterwards when they find out? I don’t know. Some experts consider it mortgage fraud.

There can be legal and maybe even criminal accusations thrown against you. In my opinion, it’s just not worth the risk. The other problem is that the company wanting to buy the house is going to want to make money.

They will want to charge a rent that is higher than their mortgage payment. If you can’t afford to pay, then they will ask you to move.

If you can’t buy the home quickly enough, then they may decide to sell it to someone else down the road. So, there are a lot of unknowns.

If you can’t afford the mortgage payments anymore, and you owe far more than the home is worth then a short sale may be a good option.

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at jlockard@remax.net. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (201) 825-6600 x343 or on my cell at (201) 674-3114. If you prefer, just fill out the form by clicking the words, Contact Me below:

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

Thinking about a loan modification? Our Bergen County Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, James Lockard.

James is a Real Estate Agent at RE/MAX Properties.

Phone: (201) 825-6600 x 343 Cell: (201) 674-3114. jlockard@remax.net

View My homes for sale at www.BergenCounty-Homes.com.
Find Information about Bergen County Real Estate at:www.BergenCountyRealEstate.info.

James Lockard specializes in loan modification assistance and short sales in Bergen County New Jersey. Bergen County Loan Modification Help, Bergen County short sales, Bergen County Short Sale Realtor, Short Sale Realtor, Bergen County NJ Short Sales, Bergen County Realtor

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

James Lockard, RE/MAX Properties, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Lockard’s personal views and do not reflect the views of RE/MAX Properties.

This information on Bergen County Short Sale Question: Can I short sell my house and rent from the new owner? is provided as a courtesy to our viewers to help them make informed decisions.

Bergen County NJ – The most likely reason why a bank would accept to issue an extension on a short sale is because the bank prefers to do the short sale over the foreclosure.

This is a reason why your agent needs to continue to tell them on why the short sale will be beneficial during the entire process.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

The biggest reason a short sale is beneficial is because banks usually make 10-20% more on a short sale compared to selling a property after foreclosure.

Besides, the further out the foreclosure date is, then the more beneficial the short sale. That is because the bank gets to sell the house today, rather than 12-18 months down the road.

The savings can be quite substantial when you sit down and add them all up. Doing a short sale and selling the property now makes more financial sense for the bank than a foreclosure.

An extension to the closing date of a short sale is a major request for the bank. Not every bank will accept such a request.

Here are some steps you may take to increase your chances that the short sale bank will accept to give you the extension:

* Present a guaranteed closing date. You need to be ready first, and then ask for the extension. This means that the buyer’s lender has approved the loan and will be ready to fund once the short sale approval is extended.

* Sign an addendum extending the closing. The short sale lender may want assurance that all parties to the short sale transaction are still interested and ready to close. Sending an addendum to the bank that is signed by all sellers and buyers proves that everyone has agreed to the extension.

* Submit an updated preapproval letter and / or proof of funds from the buyer. You need to show the bank that the buyer is still qualified and ready to close by submitting an updated preapproval letter. Do not assume that the letter you submitted at first will serve the same purpose.

* Be professional and treat the negotiator with respect. Explain the reasons behind the delay and assure the negotiator of the date by which you will close. Do not demand the extension.

* Be prepared to pay for the privilege. An extension by the short sale bank is a privilege, not a right. Some banks might charge the buyer for every day they run past the original closing date.

That fee could be $100 a day or more. The buyer needs to be prepared to pay if they can’t close on time.

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at jlockard@remax.net. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (201) 825-6600 x343 or on my cell at (201) 674-3114. If you prefer, just fill out the form by clicking the words, Contact Me below:

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

Thinking about a loan modification? Our Bergen County Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, James Lockard.

James is a Real Estate Agent at RE/MAX Properties.

Phone: (201) 825-6600 x 343 Cell: (201) 674-3114. jlockard@remax.net

View My homes for sale at www.BergenCounty-Homes.com.
Find Information about Bergen County Real Estate at:www.BergenCountyRealEstate.info.

James Lockard specializes in loan modification assistance and short sales in Bergen County New Jersey. Bergen County Loan Modification Help, Bergen County short sales, Bergen County Short Sale Realtor, Short Sale Realtor, Bergen County NJ Short Sales, Bergen County Realtor

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

James Lockard, RE/MAX Properties, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Lockard’s personal views and do not reflect the views of RE/MAX Properties.

This information on Bergen County Short Sales: Why Would a Bank Issue an Extension on a Short Sale Approval Letter? is provided as a courtesy to our viewers to help them make informed decisions.

Bergen County NJ – Under normal circumstances, banks are not required to extend the closing of a short sale. The last thing a buyer would want to hear is that their mortgage lender can’t perform especially after waiting for a number of months to buy a home.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

For the non-short sale transaction the buyer’s lender has complete control of the entire transaction and decides on the closing date. This is not the case in a short sale. Why not?

With a short sale the short sale bank usually says the short sale approval is only good for 30 days. If the sale doesn’t close before that, then the short sale approval is null and void.

If the buyer’s lender can’t meet that date, the buyer could end up losing out on the opportunity to buy the home. Even worse, the seller loses their opportunity to sell their home and avoid foreclosure.

Sometimes, banks prefer to foreclose if the auction date is at hand. However, some banks under certain circumstances will extend the closing date. A short sale may be extended provided:

* It is not a Fannie Mae short sale in default.

* The bank wants to postpone the auction.

It is always advisable to close on time and not need an extension. Some lenders do not understand that the short sale closing date is not always flexible, and that they should do their best to meet that time frame.

You might have to let them understand this just to try and prevent foreclosure from coming your way.

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at jlockard@remax.net. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (201) 825-6600 x343 or on my cell at (201) 674-3114. If you prefer, just fill out the form by clicking the words, Contact Me below:

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

Thinking about a loan modification? Our Bergen County Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, James Lockard.

James is a Real Estate Agent at RE/MAX Properties.

Phone: (201) 825-6600 x 343 Cell: (201) 674-3114. jlockard@remax.net

View My homes for sale at www.BergenCounty-Homes.com.
Find Information about Bergen County Real Estate at:www.BergenCountyRealEstate.info.

James Lockard specializes in loan modification assistance and short sales in Bergen County New Jersey. Bergen County Loan Modification Help, Bergen County short sales, Bergen County Short Sale Realtor, Short Sale Realtor, Bergen County NJ Short Sales, Bergen County Realtor

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

James Lockard, RE/MAX Properties, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Lockard’s personal views and do not reflect the views of RE/MAX Properties.

This information on Bergen County Short Sales: Will Banks Issue an Extension on a Short Sale Approval Letter? is provided as a courtesy to our viewers to help them make informed decisions.

Bergen County NJ – Homeowners who would prefer to get out from underwater may prefer to do a short sale compared to a loan modification.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

A short sale means the bank will accept a reduced payoff and release the loan. If your home is worth dramatically less than the amount owed, it might make more sense to do a short sale and be relieved of the burdened debt.

Loan Modifications are changes to your loan agreement. Your payments get more affordable, but your loan balance is not reduced in any way.

In fact, many loan modifications will adjust your payment back up after 3-5 years.

Here are other factors to consider:

1. After 2 to 3 years of maintaining credit, if prices remain stable, homeowners may qualify to buy another home with a mortgage and a payment that is affordable.

2. Both a loan modification and a short sale may affect credit. But either solution is generally better than a foreclosure.

3. Most of the short sale listings I sell in my area involve sellers who were denied a loan modification.

I can guide you in making a decision on what option to take based on your current situation.

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at jlockard@remax.net. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (201) 825-6600 x343 or on my cell at (201) 674-3114. If you prefer, just fill out the form by clicking the words, Contact Me below:

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

Thinking about a loan modification? Our Bergen County Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, James Lockard.

James is a Real Estate Agent at RE/MAX Properties.

Phone: (201) 825-6600 x 343 Cell: (201) 674-3114. jlockard@remax.net

View My homes for sale at www.BergenCounty-Homes.com.
Find Information about Bergen County Real Estate at:www.BergenCountyRealEstate.info.

James Lockard specializes in loan modification assistance and short sales in Bergen County New Jersey. Bergen County Loan Modification Help, Bergen County short sales, Bergen County Short Sale Realtor, Short Sale Realtor, Bergen County NJ Short Sales, Bergen County Realtor

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

James Lockard, RE/MAX Properties, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Lockard’s personal views and do not reflect the views of RE/MAX Properties.

This information on Bergen County Short Sales: Why Might a Short Sale Be Preferred Over a Loan Modification? is provided as a courtesy to our viewers to help them make informed decisions.

Bergen County NJ – You should put every little thing you have to show that your situation is real and that you cannot afford to make your mortgage payment.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Use numbers and percentages to explain the loss your of income or negative cash flow. For example, instead of saying “I’m borrowing money to make the mortgage payments”, disclose the dollar amount and source of that debt.

A good example would be: “I’ve borrowed $10,000 against my VISA card to make my payments over the past 6 months, and I have tapped my cards to the maximum.”

You need to paint the worst picture that you honestly can. If your car needs maintenance or repair, if the cat has cancer and your vet bills are increasing, if your kids are starving to death on peanut butter sandwiches, or and your fingernails are worn to the quick scrubbing other people’s floors for pennies a day, then put it into your hardship letter.

Use simple words that anyone can understand. The people reading these hardship letters are real people. If they don’t feel sorry for you by the time they have finished reading, then maybe you need to re-write it.

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at jlockard@remax.net. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (201) 825-6600 x343 or on my cell at (201) 674-3114. If you prefer, just fill out the form by clicking the words, Contact Me below:

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

Thinking about a loan modification? Our Bergen County Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, James Lockard.

James is a Real Estate Agent at RE/MAX Properties.

Phone: (201) 825-6600 x 343 Cell: (201) 674-3114. jlockard@remax.net

View My homes for sale at www.BergenCounty-Homes.com.
Find Information about Bergen County Real Estate at:www.BergenCountyRealEstate.info.

James Lockard specializes in loan modification assistance and short sales in Bergen County New Jersey. Bergen County Loan Modification Help, Bergen County short sales, Bergen County Short Sale Realtor, Short Sale Realtor, Bergen County NJ Short Sales, Bergen County Realtor

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

James Lockard, RE/MAX Properties, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Lockard’s personal views and do not reflect the views of RE/MAX Properties.

This information on Bergen County Short Sales: What Else Goes Into a Hardship Letter? is provided as a courtesy to our viewers to help them make informed decisions.

Bergen County NJ – It is not a lot of fun to write a hardship letter. In fact, it can be depressing. Many people may not know how bad their lives have become until they reach a point of writing a hardship letter.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Sometimes seeing all those awful things in writing is startling and some people start crying. However, do not turn and start talking about how your life will improve.

Do “NOT” share your hopes and dreams for the future with the bank. It’s none of the bank’s business.

If there is hope on the horizon, if there is a chance for recovery and for you to become whole again, then the bank will not hesitate to grab a knife and plunge it into your heart.

If your bank senses anything that shows that you might have the financial means at some point in the future to repay part of that debt, then the bank will jump on it like hot fudge on a sundae.

The bank doesn’t care about you or protecting your precious credit rating. So do everything you can to clue them into the harsh reality of your situation. Let them know that you have thought of bankruptcy.

Most people think of bankruptcy for just a second and then try to shove the thought into the back of their head. But, let your bank know that you have thought about bankruptcy.

After all there is nothing that scares them more than bankruptcy. They know it allows you to walk away from your debt. It also makes them much more willing to negotiate with you. If you are on the brink of bankruptcy, then you’ve got a story the bank can listen to.

Do not be afraid to be truthful and tell that story.

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at jlockard@remax.net. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (201) 825-6600 x343 or on my cell at (201) 674-3114. If you prefer, just fill out the form by clicking the words, Contact Me below:

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

Thinking about a loan modification? Our Bergen County Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, James Lockard.

James is a Real Estate Agent at RE/MAX Properties.

Phone: (201) 825-6600 x 343 Cell: (201) 674-3114. jlockard@remax.net

View My homes for sale at www.BergenCounty-Homes.com.
Find Information about Bergen County Real Estate at:www.BergenCountyRealEstate.info.

James Lockard specializes in loan modification assistance and short sales in Bergen County New Jersey. Bergen County Loan Modification Help, Bergen County short sales, Bergen County Short Sale Realtor, Short Sale Realtor, Bergen County NJ Short Sales, Bergen County Realtor

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

James Lockard, RE/MAX Properties, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Lockard’s personal views and do not reflect the views of RE/MAX Properties.

This information on Bergen County Short Sales: Don’t Be Afraid To Tell The Truth In Your Hardship Letter is provided as a courtesy to our viewers to help them make informed decisions.

Bergen County NJ – The type of hardship that your lender will consider legitimate depends on the mortgage company considering the Short Sale request.

In general, so long as the hardship is real & acceptable and the mortgage company believes the loan is likely to become delinquent as a result, the Short Sale request will be processed by the Loss Mitigation Department.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

A big key to getting your lender to accept a hardship is to submit a strong hardship letter. The hardship letter sets the tone for the entire file.

This letter must be honest and represent the facts clearly. It must prove to them that the situation that caused you to fall behind was temporary and you are now in a position to make your payments on time.

Below are examples of “hardships” that are common and frequently accepted by mortgage lenders.

1. Family illness or injury.

2. Illness or injury in the extended family – particularly if it forces relocation.

3. Job relocation when the property is equity deficient.

4. Job loss or significant income loss.

5. Divorce or split of domestic partners.

6. Adjustment in mortgage payment or unforeseen increase in living expenses.

Your lender will expect you to submit any relevant documentation that supports your claim of hardship.

Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at jlockard@remax.net. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (201) 825-6600 x343 or on my cell at (201) 674-3114. If you prefer, just fill out the form by clicking the words, Contact Me below:

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

Thinking about a loan modification? Our Bergen County Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, James Lockard.

James is a Real Estate Agent at RE/MAX Properties.

Phone: (201) 825-6600 x 343 Cell: (201) 674-3114. jlockard@remax.net

View My homes for sale at www.BergenCounty-Homes.com.
Find Information about Bergen County Real Estate at:www.BergenCountyRealEstate.info.

James Lockard specializes in loan modification assistance and short sales in Bergen County New Jersey. Bergen County Loan Modification Help, Bergen County short sales. Bergen County Short Sale Realtor Short Sale Realtor. Bergen County NJ Short Sales. Bergen County Realtor

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Important Notice

James Lockard, RE/MAX Properties, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Lockard’s personal views and do not reflect the views of RE/MAX Properties.

This information on Bergen County Short Sale Question: What Kind Of hardship Would My Lender Consider Legitimate? is provided as a courtesy to our viewers to help them make informed decisions.