Ashburn Short Sales: How To Get Your Loan Mod Approved When Negotiating With A Local, Ashburn Lender
Ashburn VA - In my opinion, loan mods are very tough to negotiate with large lenders like Bank of America, Wells Fargo, JP Morgan Chase, or SunTrust. The reason is because you are treated like a number.
In addition, in most cases the lender doesn't own your loan. Someone else does. So when they negotiate with you, it is simply to go thru the motions.
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No, common sense does not apply in these situations! The good news is that common sense does apply when you are dealing with a small, local lender.
I remember hearing a credit union in my town run ads about how they didn't treat you like a number.
The ads said something like, "When you bank with X Credit Union you aren't a number. We talk to you on a first name basis." I didn't see the benefit then, but I do see it now.
I talked with a recent homeowner about how he negotiated a loan modification with a small, local lender. At first the lender played total hardball with him.
"Either pay us in full or we will foreclose", they told him. They were firm on being paid in full. The said if he didn't pay they would file foreclosure right away.
He was pretty and paid in full for a while. Six months later he grew tired of being dead broke (which is how his finances were after giving his lender most of his earnings every month.)
So he decided to "play chicken" with his lender. He stopped paying. His lender continued to play hardball. Finally, he consulted a bankruptcy attorney and had them take over the negotiations with his lender.
The lender backed off. They total changed their tune. No longer were they playing hardball. Now, they wanted to "work something out with him."
Wow! What a difference that one simple thing made. Notice he didn't have to file bankruptcy or anything.
But, the threat caused them to change their tune. In my next blog post I'll explain why. 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 kmaz32@hotmail.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 571-420-7838
Thanks for reading this, Kyle Mazaris.
Kyle is a Real Estate Agent at RealEstate.com Realtors. Ashburn Short Sales Realtor:
Phone: 571-420-7838.
Email: kmaz32@hotmail.com
Kyle Mazaris specializes in loan modification assistance and short sales in Ashburn Virginia. Ashburn Loan Modification Help, Ashburn Short Sales. Ashburn Short Sale Realtor. McLean VA Loan Modification Help, McLean VA Short Sales. McLean VA Short Sale Realtor. Sterling VA Loan Modification Help, Sterling VA Short Sales. Sterling VA Short Sale Realtor. Great Falls VA Loan Modification Help, Great Falls VA Short Sales. Great Falls VA Short Sale Realtor. Reston VA Loan Modification Help, Reston VA Short Sales. Reston VA Short Sale Realtor. Ashburn VA Short Sales. Ashburn Realtor.
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