You Are Now Entering The SHORT SALE ZONE. . .
Can I say it enough?? Short Sales are the Solution! This is why we must keep pushing for them to happen.
You are entering. . . .
You're travelling to another dimension, a dimension not only of sight and sound...
but of mind. A journey into a wondrous land, whose boundaries are only that of the imagination...
you're entering... the Short Sale Zone...
Have you noticed?
There is a new trend that is evolving in America.
It slowly started growing and growing and now. . .We can’t ignore it anymore. .
Do you know what it is?
FORECLOSURES
It’s a tsunami of foreclosures that has swept over our land creating havoc in all our neighborhoods.
More and more Americans are leaving their homes and slowly becoming just another number of the crisis playing in the country right now.
Some, are just leaving their homes and simple abandoning them . . . because they can’t pay for it any longer
Some they even dare to call them . . .THE LUCKY ONES! . . .YES WE CAN!
WAKE UP AMERICA!
The number of homeowners that could be underwater on their mortgages could be over 50% by the year 2010
50% !
The Great Disappearing Act for 2008-2009
PUFF!!.. . .it is GONE!
Homeowners trying to keep their homes above water. . . they lost it all !
A lifetime of savings. . . simply gone!
Who started all?
Greedy BANKERS
Who got Bailed out?
Greedy BANKERS
After receiving help from the Obama administration , they started using that money to purchase other small failing banks
to get bigger. . and bigger
later,
they felt a little guilty and they started helping distressed families to keep their homes. .
HOW?
LOAN MORTIFICATIONS. . .er I mean MODIFICATIONS
What exactly is a LOAN MODIFICATION?
Let me explain it this way. .
Let’s say you buy a car for $20,000
You pay your monthly notes every month $500 per month
Suddenly you find out that your car is only worth $10,000
And you lose your job. . That same day
You beg the car company to reduce your payments to $400 per month
They say YES WE CAN and suddenly your payments drop to $400 per month
But you still owe them $20,000 . . . on a $10,000 car!!??
A loan MORTIFICATION is when you drive a $10,000 car and owe $20,000 to the bank
A Loan MODIFICATION is when you drive a $10,000 car and owe $10,000 to the bank
Over 47 % of loan modifications FAIL after the THIRD MONTH
WTF?
Modifications aren’t the solution!~
One reason why many loan modification efforts fail is that overdue payments are added to the loan balance with no
other modifications made to the loan, so the new payments and new terms are the same
but the overall balance ends up larger than before.
Homeowners are getting the shaft. .with Government supplied Vaseline!
So then we enter the SHORT SALE ZONE. .
I wanted to believe that the bankers were hit with an avalanche of short sales applications
They just couldn’t handle the numbers.
Poor bankers, they were so surprised as many of us where. . .
they are just so many. . .
Ok, I rationalized, a big company that gets hit with such an avalanche of distressed owners
will have to adjust quickly to handle the pressure.
I gave them one month?
No, no, no. . that was just not enough time.
3 months maybe?
Still not enough. . .after all they have to train all these people.
10 Months?
Maybe . .
TRY TWO YEARS!
Today they still don’t have a FREAKING CLUE !
Why aren't these banks getting their act together and APPROVE these short sales?
KNOWING That if they FORECLOSED. . they will sure get LESS MONEY at the end.
I asked myself again . .why?, why? , why?
Then one day, I read a post from one of my peers in Miami Sidney Jimenez
He theorized that the reason the banks keep PLAYING with us with ALL THE SHORT SALES
Was because they are the LOAN SERVICERS
They make money each month every time they service a loan
If the homeowner pays or not . . they are still getting paid for servicing that loan
That explains how some of the smaller banks are so eager to approve our short sales.
BU THE GREEDY BANKERS?
It behooves them to STRING THE SHORT SALE NEGOTIATION A LONG TIME!
SO THEY CAN STILL GET PAID!
“But I already faxed you my client’s short sale package 3 times Mr. Banker!”“It doesn’t matter, our fax machine ate it up. .fax it a fourth time and call us in four weeks to confirm that we received the fax”
Now you know what happens when you enter. . .
As soon as you send and fax the first authorization letter. .unknowingly you’ve entered
Where faxes become an illusion and a BPO order is like a dental appointment with no anesthesiaThe world slows down to a crawl. . .
where it will take a 5 minute call for you and me to confirm a short sale package
and another five minutes to assign it to a negotiator. .
In
That takes 3-4 weeks. . .if you call them everyday. . 4-6 if you call them weekly.
Meanwhile the INVESTORS (Owners of the loans) get the same Vaseline treatment
They aren’t in hurry to lose that account. .
They simply don’t care that the investor may end up losing thousands and thousands of dollars more.
Now you know why the banks after nearly 2 years of short sales. . they don’t have their act together.
It’s all about them. . .
how much money they generate each month to service thousands and thousands of loans
Meanwhile. .
Kids are going to school wondering if their home will be there when they came back that afternoon.
Couples are getting a divorced because the overwhelming pressures of losing a home
Entire families are being affected by the crisis generated by the greedy bankersWhile the Government quietly expects over 15 million homes could be affected by this crisis,
They don’t count that each of those homes may have up to 3 people living inside.
15 x 3 = 45 million people among them many children will be affected by all this
Yet. .the bankers still want us to operate in the SHORT SALE ZONEIf this video doesn’t hit you between the eyes nothing ever will. .
THIS IS ONE OF THE REASONS WHY I DO SHORT SALES . . .
Please help by getting involved and FORCE these bankers for a standardized short sale packageTo be approved or disapproved within a reasonable amount time.
Because ENTIRE FAMILIES LIVES depend on it. .
Contact your State’s Representatives and LET'S GET INVOLVED!
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