Glendale AZ –
Yesterday we discussed a serious problem affecting the short sale industry. Today, we are going to lay out a strategy that the short sale sellers can use to help solve this problem.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
The biggest reason that this problem can continue is because the realtors assisting you never receive a copy of your home's valuation. If we had copies of those valuations, then holding the people accountable would be much easier. The banks won't give us the information. And we really don't have the right to it. But, you, the home seller, does have a right to it under the Equal Credit Opportunity Act Here is what you can do to get your hands on your bank's property valuation.
1. Request a complete itemized payoff from your lender. 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 property valuation is itemized. It will usually be called an "Appraisal" or "BPO." If not, it may be included in some other payoff cost.
3. Since this is part of what you owe on this mortgage, then you have a right to a copy under the Equal Credit Opportunity Act. Fax the lender's legal department a request for a copy of it. Send a copy of the payoff and circle the spot where you think the BPO payment is. Request a copy for the borrower under the Equal Credit Opportunity Act. In addition, also mail the lender's legal department the same request.
If your 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 against them. Once you receive a copy of your home's valuation we can use that date to facilitate the short sale process.
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 collinsrealty@msn.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 (602) 290-0950 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our NorthWest Valley 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, chris collins. chris is a Real Estate Agent at Show Appeal Realty. NorthWest Valley Short Sales Realtor: Phone: (602) 290-0950. collinsrealty@msn.com. View My homes for sale at northwestvalleyshortsales.com.
Christopher Collins specializes in loan modification assistance and short sales in NorthWest Valley Arizona. NorthWest Valley Loan Modification Help, NorthWest Valley Short Sales. NorthWest Valley Short Sale Realtor. Glendale, Arizona Loan Modification Help, Glendale, Arizona Short Sales. Glendale, Arizona Short Sale Realtor. NorthWest Valley AZ Short Sales. NorthWest Valley Realtor. Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved. Important Notice chris collins, Show Appeal 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 chris's personal views and do not reflect the views of Show Appeal Realty. This information on A New Strategy To Make NorthWest Valley Short Sales Faster & Easier is provided as a courtesy to our viewers to help them make informed decisions.
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