Glendale AZ – In yesterday's blog post we explained why some realtors consider short sales to be a "nightmare." Then, we explained how we do to inform the actual loan owner of the lender's negligence. Today, we'll explain how this works if the lender owns the loan in house. After all, there is no third party loan owner who will hold the lender accountable. Here is what you do in this situation.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
First, contact the CEO. We have a solid strategy that will puts us in contact with the CEO of almost any bank. We have used this strategy to contact the CEO of Bank of America, JP Morgan Chase, Suntrust, and many other lenders. Then, we detail the problem with the CEO and explain how much money their company will lose if they do not approve the short sale. We have a calculator that we use that breaks down these numbers. It is based on examples of when a lender turned down a $385,000 short sale offer, foreclosed on the house, and then sold it for $230,000. (Most people would be shocked at how much banks lose because of their flawed short sale processes.) Here is what happens when this process is carried out effectively.
We contacted the CEO of a Top 20 American Bank. We explained how the short sale department wouldn't respond to emails or phone calls. Then, we explained that we estimated this would cause his bank to lose around $30,000. We backed up our estimate with examples of other lenders who rejected a short sale and lost tens of thousands more after foreclosing the property and then selling it. The CEO wasn't happy (to say the least.) Later that day the head of the short sale department called us to discuss the file. He gave us his direct phone number and begged us to never call the CEO again. You have to remember that every dollar is important to these CEOs. They work so hard to increase earnings every way possible. They don't care about excuses. They want results. They assume that every employee and department could work harder and do a better job. When you show them how someone is not doing their job and costing the bank $30,000, then they are unhappy. Obviously this CEO was under a lot of pressure to boost earnings. We learned he had been replaced a few months later.
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 How We Convince A Lender To Approve A NorthWest Valley Short Sale is provided as a courtesy to our viewers to help them make informed decisions.
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