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Short Sale Specialist Rocklin CA - Strategies to Obtain The BPO On Your Rocklin Short Sale

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Real Estate Agent with Roseville Rocklin Real Estate - Keller Williams 01489482

Short Sale Specialist Rocklin CA - Strategies to Obtain The BPO On Your Rocklin Short Sale – After an unsuccessful attempt at a loan modification, many people will short sale their Rocklin Home in order to salvage their credit.  After all, a Rocklin Short Sale has less of an impact on your credit and ability to purchase another home than foreclosure. One of the most crucial steps to getting your short sale offer approved is getting an accurate BPO from the 3rd party agent.  Contact me for me more specific details on how I do this.

Most lenders will not give you a copy of the BPO once completed.   Here is a technique you can use to force the lender to give you a copy of the BPO:

Use your rights as a homeowner to get more information about the BPO. An inaccurate BPO is the number one reason short sales fail.

Here is a step by step strategy:

1. Request a complete itemized payoff from the foreclosing lawyer. In addition, request a copy from the lender themselves. You do this by faxing them a request. Usually you will get an answer in 7-10 business days.

2. Review the payoff to see where the BPO is itemized. If a BPO has ever been ordered, it will most likely by itemized on there. If not, it may be included in some other payoff cost. Get confirmation of that in writing from the lender.

3. Since the BPO is added onto the amount owed by the homeowner, they have a right to a copy under the Equal Credit Opportunity Act. Fax the lender's legal department a request for a copy of the BPO.

Send a copy of the payoff and circle the spot where you think the BPO payment is. In addition, also mail the lender's legal department the same request.

If the lender does not comply, then you can file a complaint with the Federal Trade Commission at www.ftc.gov, The Office of Thrift Supervision at www.ots.treas.gov, the FDIC at www.FDIC.gov, and the Comptroller of the Currency at www.helpwithmybank.gov.

Indicate on your correspondence with the lender that if they do not comply, then you will be filing complaints with those agencies.

Thinking about a Roseville short sale?  Send me an e-mail at mdpeek@gmail.com. I will contact you for a free consultation to discuss Short Sale Facts.

When we talk, I will explain how the Rocklin Short Sale Process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (916) 580-6084.

Thanks for reading this,

Mark Peek.

Mark Peek is a Short Sale Consultant at Keller Williams Realty. Rocklin Short Sale RealtorShort Sale Specialist Rocklin CA

Phone: (916) 580-6084. mdpeek@gmail.com.

"Know Your Options"

View My homes for sale at www.CallPeek.com.

Mark Peek specializes in short sales in Rocklin CA and surrounding areas including Roseville, Lincoln, Folsom, El Dorado Hills, Citrus Heights, Granite Bay, Fair Oaks, Orangevale, Carmichael, Sacramento, and more. Rocklin Short Sale SpecialistRocklin Short Sale AgentRocklin Real Estate.

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 Mark Peek's personal views and do not reflect the views of Keller Williams Realty.

This information  is provided as a courtesy to our viewers to help them make informed decisions on Short Sale Specialist Rocklin CA - Strategies to Obtain The BPO On Your Rocklin Short Sale

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