Antioch CA – We’re going to start explaining the steps to approving a short sale in 90 days or less.

Today, we’ll start with Step 1: Find out the type of loan it is. Examples are Fannie Mae, Freddie Mac, FHA, VA, Portfolio, and “Sliced and Diced.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Why does this step matter? First, around 70-80% of all loan held by the large, national lenders are not owned by that lender. They are simply collecting the money for the actual owner of the loan.

The owner of the loan should actually make the decision to approve or deny the short sale. Find out who the actual owner is and you can hold that lender accountable for their actions.

They better do a good job on the short sale. If not, then you report on them to the actual loan owner. In addition, most of these loan owners have specific guidelines on short sales.

Not all lenders follow those guidelines. If they don’t then you can hold them accountable for their actions. Ok, so here is how you find out who owns the loan.

Go thru the steps below.

Search Fannie Mae’s Website: loanlookup.fanniemae.com/loanlookup/

Search Freddie Mac’s Website: ww3.freddiemac.com/corporate/

Look at the actual mortgage to see if the loan is an FHA or VA Insured Mortgage.

If the loan is FHA insured, then on the first page of the mortgage, there should be a small square. Inside the square, it will say “FHA Case Number 091-4242640-703.” The case number will be different, but it will still be an FHA loan.

If the loan is VA insured, then on the mortgage, 1-4 pages past the signature page will be a VA Rider. At the top it will say “NOTICE: THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS.” That is a VA loan.

If the loan is not any of those, then it is probably then it is most likely a portfolio loan. This means the loan is owned and serviced by the original company that bought it. This is especially true if the current servicer is the same company as the original lender.

There is one final option: “Sliced and Diced.” If a foreclosure has been filed, then look at the Plaintiff’s Name on the Lis Pendens.

If it contains something like “CWALT 2005-06CB”, “BOAALT Series 2005-10″, “Certificates”, or “Trust”; then it is probably “Sliced and Diced.” Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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 and answer any questions you may have. Or, if you prefer, 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 bank. Click here to request a copy.

Thanks for reading this, Shonn Thompson.

Shonn is a Real Estate Agent at Better Homes Realty. Antioch Short Sales Realtor:

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 Antioch CA Short Sales. Antioch Realtor.

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Important Notice

Shonn Thompson, Better Homes Realty, 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 Shonn’s personal views and do not reflect the views of Better Homes Realty.

This information on Step One To Get A Antioch Short Sale Approved In 90 Days Or Less is provided as a courtesy to our viewers to help them make informed decisions.