Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Most of the huge losses on bad mortgages were not lost by the banks themselves. The biggest loser was Uncle Sam, through the takeover of Fannie Mae and Freddie Mac.
Most mortgages are sold after they are issued. We estimate that around 75-80% of all mortgages were sold before the housing crisis. This means that the large lenders didn’t take the hit on the bad mortgages they originated.
Another large buyer of mortgages was U.S. pension funds and retirement funds. Do you think the average American was fleeced by Wall Street?
In many cases those mortgages are still being handled by the original entity that made the bad loan. They are required to act in the loan owner's best interest. The lenders are just not doing a good enough job trying to maximize the return on defaulted mortgages.
Remember yesterday’s blog post about the lender charging a 1% fee to the home buyer on a short sale? That fee only reduced what the loan owner was able to get for the bad mortgage. 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 email@example.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 877-722-8553
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Morris County loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thanks for reading this, Merydith Endelman.
Merydith is a Real Estate agent at Realty Executives International. Morris County Short Sales Realtor:
Phone: 877-722-8553. firstname.lastname@example.org.
Merydith Endelman specializes in loan modification assistance and short sales in Morris County New Jersey. Morris County Loan Modification Help, Morris County Short Sales. Morris County Short Sale Realtor Morris County NJ Short Sales. Morris County Realtor.
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.
Merydith Endelman, Realty Executives International, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
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.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Endelman's personal views and do not reflect the views of Realty Executives International.
This information on What The Big Banks Don’t Want You To Know About Morris County Short Sales is provided as a courtesy to our viewers to help them make informed decisions.