Bergen County Short Sales: Even With The Tight Rental Market It Is Still Often Cheaper To Short Sale And Rent - 02/28/12 03:47 PM
Bergen County NJ – In most areas the rental market is very tight. Rental prices have been increasing because so many people are losing their home to foreclosure.
But, what is still surprising is that in most cases it is still cheaper to rent than own an upside down home. See, home prices have dropped by 20-50%, depending on the area.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
It was a lot less expensive to rent back in the peak of the real estate boom. After the crash rent dropped in many areas.
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The Advantages A Bergen County Short Sales Has Over Foreclosure - 02/23/12 08:28 AM
Bergen County NJ – Some people don’t know why they should bother with a short sale. “I’ll just let the bank foreclose. A short sale isn’t worth the aggravation”, they tell us.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
There is one simple reason I would prefer to short sale my home rather than let the bank foreclose. If I short sell my home, then I can buy a new home in 3 years, rather than waiting the 5-7 years required after a foreclosure.
Most people’s finances will improve. They will get back … (0 comments)

4 Keys To Successfully Buying A Bergen County Short Sale - 02/22/12 06:11 AM
Bergen County NJ – Buying a Short Sales can be a great way to get a good deal on your home purchase. However, you need to be aware of what is involved with buying a short sale.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here are four things that will give you a better chance at success.
1. You must work with an agent that understands the short sale process. If your agent doesn’t understand the process, then they won’t know which short sales are worth looking at and which to avoid.
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Bergen County Short Sales: Which Buyer's Offer Should I Accept? - 02/21/12 06:15 AM
Bergen County NJ – The Stop Foreclosure Institute recently received a question from Beckie. Here was her question.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
“I need your help. I am trying to short sale my house. My lender is one of the largest in the country. We have been waiting for an answer on the short sale for six months now.
I finally received an answer last week in form of a counter offer to the price. The buyers had agreed to pay $315,000. However, my lender wanted $345,000. The buyer is … (3 comments)

Bergen County Short Sales: Why It's Not Embarrassing To Short Sale Your Home - 02/20/12 07:12 AM
Bergen County NJ – What a relief! You can now short sale your home and not feel like a loser. In fact, it’s becoming the “cool” thing to do.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
I recently read an article about how Medicare was costing way more than the government had projected it would cost. The article stated that there were several stages of how these programs work.
First, people who are eligible have to be told about the program. They join and the program might meet close to its projected costs. … (0 comments)

Bergen County Short Sales: What To Look For In A Buyer's Offer - 02/10/12 09:07 AM
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 … (0 comments)

Bergen County Short Sale Question: Can I short sell my house and rent from the new owner? - 02/08/12 11:39 AM
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 … (0 comments)

Bergen County Short Sales: Why Would a Bank Issue an Extension on a Short Sale Approval Letter? - 02/07/12 11:10 AM
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, … (0 comments)

Bergen County Short Sales: Will Banks Issue an Extension on a Short Sale Approval Letter? - 02/06/12 09:58 AM
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 … (0 comments)