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Antioch Short Sales: Bankers, can we have more open and transparent loan modifications?

By
Real Estate Broker/Owner with Thompson Realty Group DRE# 01229754
Antioch CA- Loan modifications have become a joke. People get turned down for no reason at all. People really want to keep their home, but just can't figure out what to do. The loan modification negotiators realize how desperate the homeowners are. They use their power over the person to take an ego trip. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. [caption id="attachment_1126" align="alignright" width="332" caption="Banker to Homeowner, "You Pay Up!""][/caption] "I'm going to make this person beg me personally for their loan modification", they think to themselves. Everything becomes a competition between negotiators on who can squeeze more out of people. They talk to their fellow negotiators about what they are able to force people to do. "I saw that one lady had $100 a month for entertainment on her financial statement. I told her she didn't deserve money for entertainment when she owed money to us", they say to them. Meanwhile, the other negotiator tells their story. "One couple had $200 a month on their financial statement to give to their church. As soon as I saw that, I increased the payment I asked by $200", they say. Yes, power does corrupt. These loan modification negotiators hold they keys to the homeowners future staying in their home. Here is what needs to be added to the Homeowner's Bill of Rights. 1. Whenever a homeowner is turned down for a loan modification, the lender shall give them a written, coherent response along with the reason they were turned down. It needs to specifically detail why they were denied and what they can do to be approved. 2. Homeowners are given all the guidelines at the beginning of the loan modification process. They should receive the same guidelines the loan modification negotiator receives. That way they can make sure that they aren't lying to them. Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at shonntsellshomes@gmail.com. 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 925-754-1611. Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our Antioch 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, Shonn Thompson. Shonn is a Real Estate Agent at Better Homes Realty. Phone: 925-754-1611. shonntsellshomes@gmail.com. Experience and Results That Will Move You! View My homes for sale at www.shonnthompson.com. Shonn Thompson specializes in loan modification assistance and short sales in Antioch California Antioch Loan Modification Help, Antioch Short Sales. Antioch Short Sale Realtors. Pittsburg Loan Modification Help, Pittsburg Short Sales, Pittsburg Short Sale Realtor Brentwood Loan Modification Help, Brentwood Short Sales, Brentwood Short Sale Realtor Short Sale Realtor. Antioch CA Short Sales. Antioch Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. 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. The views expressed here are Shonn Thompson's personal views and do not reflect the views of Better Homes Realty. This information on Antioch Short Sales: Bankers, can we have more open and transparent loan modifications is provided as a courtesy to our viewers to help them make informed decisions.

Comments (1)

Frances C. Rokicki
Fran Rokicki Realty, LLC - Bolton, CT
Broker-Mentor,CRS

Shonn, It is a bit scarry out there, for many homeowners, across this country.  I believe that our politicians have failed to make these banks comply and be reasonable about people modifying their loans.  I have heard that those monies, were not even 1% used.  I had a short sale with HSBC.  They refused an offer of an amount that the house is selling less for, now.  The home foreclosed, and was cleaned out, at the bank's expense, locks changed and it was listed for $234,900, seven months later.  It is now, under deposit.  They could have sold the home for less, without all of the cleaning, expense of a dumpster, mowing and cleaning up the yard, changing the locks, back in April. How strange is that?  No one can believe it, but, it happens.

Dec 09, 2010 11:28 AM