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10 Loan Modification Secrets Your Bank Does Not Want You To Know. . .
Question: “Hey Fernando, I am considering a short sale, because the lender has been “playing with me” for months and we are still in the same place when we first started. .now, I'm several months behind on my payments, Should I proceed with a loan modification or a short sale? Answer: Ok Terrie, bankers don’t care and we know that already. . but you should continue with the lender until they accept you or deny you. .once you know their final response then you should proceed to the next step. A short sale may be the right decision for you now. . but you should not make that decision simply because the lender is “playing with you”... just wait a little longer and keep insisting for an answer. Always make the SHORT SALE DECISION based on your financial needs and what makes sense for you in the near future.
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Just Because. .
. . and it shouldNOT BE! You shoud start with a lona modification with your lender. . .
TO avoid A . . .
Hi, my name is Fernando Herboso and a licensed broker in Maryland that specializes in distressed properties.
Having listed over 150 short sales in the last 4 years, this is a compilation of the HORROR stories that came from all these people that tried to save their homes and couldn't. . .
Fernando, thanks for sharing this valuable information for home owners faced with difficult decisions. You are a true blessing to those who need your assistance.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
2 Comments on Should I do a Short Sale or a Loan Modification?
I liked the videos with your tips on loan modification. Loan modification sounds like a lot better option than short sale.
Fernando, thanks for sharing this valuable information for home owners faced with difficult decisions. You are a true blessing to those who need your assistance.