bergen county short sale realtor: Thinking About A Bergen County Loan Modification? Run The Numbers First - 04/23/12 10:49 PM
Bergen County NJ – When you negotiate your loan mod you need to remember that the banks are professional negotiators. They know the tricks.
They know how to suck as much money out of you as is legally possible. Don’t kid yourself. They’re going to use every single tool in their tool chest to squeeze you.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
So before you start negotiations with the bank, you’ve got to be prepared. You can’t just walk into a gunfight with a knife. You’ve got to go prepared so you … (0 comments)

bergen county short sale realtor: How A Bergen County Short Sale Could Help You Avoid Owing Money In The Future - 03/07/12 10:11 PM
Bergen County NJ – A good short sale agent can help you avoid owing thousands of dollars in the future. Why?
Well, the most banks lose money when they reject a short sale. They turn down a sales price of $200,000. They foreclose on the home and put it up for sale.
However, they are not able to get the price they want. The home ends up selling for $150,000. What does that mean to you?
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
First, you probably owe them a lot of money. They … (0 comments)

bergen county short sale realtor: Bergen County Short Sales: Even With The Tight Rental Market It Is Still Often Cheaper To Short Sale And Rent - 02/28/12 07:47 AM
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.
… (0 comments)

bergen county short sale realtor: The Advantages A Bergen County Short Sales Has Over Foreclosure - 02/23/12 12:28 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)

bergen county short sale realtor: 4 Keys To Successfully Buying A Bergen County Short Sale - 02/21/12 10:11 PM
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.
… (0 comments)

bergen county short sale realtor: Bergen County Short Sales: Which Buyer's Offer Should I Accept? - 02/20/12 10:15 PM
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 sale realtor: Bergen County Short Sales: Why It's Not Embarrassing To Short Sale Your Home - 02/19/12 11:12 PM
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 sale realtor: Bergen County Short Sales: What To Look For In A Buyer's Offer - 02/10/12 01:07 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 realtor: Bergen County Short Sale Question: Can I short sell my house and rent from the new owner? - 02/08/12 03:39 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 sale realtor: Bergen County Short Sales: Why Would a Bank Issue an Extension on a Short Sale Approval Letter? - 02/07/12 03:10 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 sale realtor: Bergen County Short Sales: Will Banks Issue an Extension on a Short Sale Approval Letter? - 02/06/12 01:58 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)

bergen county short sale realtor: Bergen County Short Sales: Why Might a Short Sale Be Preferred Over a Loan Modification? - 01/27/12 12:59 AM
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 … (0 comments)

bergen county short sale realtor: Bergen County Short Sales: What Else Goes Into a Hardship Letter? - 01/26/12 03:20 AM
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 … (0 comments)

bergen county short sale realtor: Bergen County Short Sales: Don't Be Afraid To Tell The Truth In Your Hardship Letter - 01/25/12 03:34 AM
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 … (2 comments)

bergen county short sale realtor: What Constitutes A Hardship On A Bergen County Short Sale? - 01/23/12 03:05 AM
 

Bergen County NJ – Many people think a hardship is mainly based on financial matters and that is not necessarily the case.
Anything that makes it difficult for you to keep on making a mortgage payment might qualify to be a hardship.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
One thing that the bank doesn’t want to see is a homeowner who seems to be looking for a way out simply because the home is not worth the amount the owner paid for it.
Being upside-down is one of the qualifications … (2 comments)

bergen county short sale realtor: Bergen County Short Sale Question: Do Lenders Always Agree To Loan Modification Requests? - 01/16/12 06:29 AM
Bergen County NJ – Unfortunately, lenders do not always agree to loan modifications. That’s why when you decide to explore this option you need to get all the information you can on the subject.
Lenders call the loan modification process “Loss Mitigation.” Loss mitigation is the act of lessening the lender’s losses whether they approve a loan modification, short sale, or foreclose on the property.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
The lender’s loss mitigation specialist will provide multiple strategies for repaying your loan, depending on the type of loan and delinquency.
… (0 comments)

bergen county short sale realtor: Bergen County Short Sale Highlights - 01/11/12 10:44 AM
Bergen County NJ – A short sale is often viewed as the only alternative to foreclosure because it mitigates additional fees and costs to both the creditor and borrower.
By doing a short sale, you will retain some dignity in knowing that you sold your home and you will have no mortgage payments to make.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
You will also be eligible, under Fannie Mae guidelines, to buy another home in 2-3 years instead of 5 to 7 years. According to our research, if your credit report does … (0 comments)

bergen county short sale realtor: How Does A Bergen County Short Sale Affect My Credit? - 01/10/12 03:27 AM
Bergen County NJ – A successful short sale helps the seller to avoid any credit damage that could be brought about by a foreclosure.
Such damage is not something to admire as it may take a minimum of seven years for someone before it goes off your credit report. That is why is it best to do all you can to avoid it.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
When you short sell you house, you will recover quickly from the dings of late mortgage payments, provided you can keep your other … (1 comments)

bergen county short sale realtor: Why A Bergen County Short Sale Is A Win-Win For Everyone - 01/09/12 06:40 AM
Bergen County NJ – 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 … (1 comments)

bergen county short sale realtor: Bergen County Short Sales: Do Not Pay Any Upfront Fees To Anyone - 01/05/12 01:33 AM
Bergen County NJ – Most state governments have determined thatthepractice of offering consulting services to those with delinquent mortgages presents an opportunity for abuse.
You don’t need to pay any consulting fees to get the help that you need to resolve your unpaid loan.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
You have a chance to work with your mortgage company to determine what options may be available to resolve your unpaid mortgage.
If the problem that led to this is temporary, you may explore the option of a Forbearance or loan modification … (0 comments)