ashburn short sales: A Common Short Sale Mistake Being Made On Ashburn Short Sales - 04/08/11 03:28 AM
A Common Short Sale Mistake Being Made On Ashburn Short Sales
Ashburn VA - I see a lot of agents making mistakes on short sales property valuation. Lenders hire a supposedly impartial third party to value the property.
Many of these people are evaluating 10 properties a day. There is very little quality control and usually no one checks their work.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Because of that, I always try to meet them at the home when they are doing their inspection. I explain the history of the property … (2 comments)

ashburn short sales: Ashburn Short Sales: A Common Myth On Escalating A Short Sale File - 04/07/11 04:47 AM
Ashburn Short Sales: A Common Myth On Escalating A Short Sale File
Ashburn VA - We see a lot of agent's going about escalating a file the wrong way. It reminds me of the appeals process game in death row.
Everyone has to go thru the appeals process. It drags on for years and years. After a while it simply becomes a game. I don't want to see short sale escalation turn into a "game."
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Treat the Short Sale Escalation Process like a sales process. Don't … (0 comments)

ashburn short sales: Ashburn Short Sales: The Lender Won't Approve The Short Sale. Now What? - 04/06/11 04:43 AM
Ashburn Short Sales: The Lender Won't Approve The Short Sale. Now What?
 
Ashburn VA - If you are doing short sales, then you must learn how to escalate a file. Here's why.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
What do you do when the house isn't selling for any more money, but the bank keeps on rejecting the offers? You can give up, but then the seller loses the house to foreclosure.
Ouch! Why not escalate the file and get it approved? Here's an example of how it worked for the … (4 comments)

ashburn short sales: Ashburn Short Sales: The Short Sale Process from beginning to end - 04/05/11 04:50 AM
Ashburn Short Sales: The Short Sale Process from beginning to end
Ashburn VA - The short sale process can vary, but it will generally work as follows:
1) The lender is contacted to discuss the possibility of a short sale and to determine the lender's process for completing the sale.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

2) The seller issues a letter authorizing the release of personal information about the loan and the property to the buyer or escrow agency.
3) The lender will review a settlement statement, which will indicate … (0 comments)

ashburn short sales: Ashburn Short Sales: Yes, you can get a $3,000 check for short selling your home - 04/04/11 06:01 AM
Ashburn Short Sales: Yes, you can get a $3,000 check for short selling your home
 
Ashburn VA - If you are looking to short sale your home, then I have some good news for you. Thanks to a new government program, HAFA, you can get paid to participate in a short sale.Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
 
If your loan qualifies for the HAFA program, then you may be eligible for a number of financial incentives. You can get up to $3,000 to help with moving costs.
Even better is … (0 comments)

ashburn short sales: Ashburn Short Sales: Can banks get in trouble for taking too long to process a short sale file? - 04/01/11 06:35 AM
Ashburn Short Sales: Can banks get in trouble for taking too long to process a short sale file?
Ashburn VA - We received a lot of feedback from yesterday's post.   
Ashburn Short Sales: Can banks get in trouble for taking too long to process a short sale file?
One agent said, "You obviously don't know what you are talking about. Bank X won't give us a response on the file and we have been waiting 5 months for an answer.
How dare you suggest that I am incompetent because they haven't replied?" (The bank was a large national bank whose name … (2 comments)

ashburn short sales: Ashburn Short Sales: Do Short Sales Really Take 6-8 Months? - 03/31/11 05:30 AM
Ashburn Short Sales: Do Short Sales Really Take 6-8 Months?
Ashburn VA - The Stop Foreclosure Institute recently received a question from John. Here is John's Question.
"I am trying to buy a short sale. I have been waiting on an answer to my offer for 6 months. The agent tells me we should have an answer any day.
But, they've been saying that for a long time already. What should I do? John."
http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

John, I think you should run for the hills. We … (0 comments)

ashburn short sales: Ashburn Short Sales: A Good Example Of Lender Incompetence On Short Sales - 03/30/11 05:59 AM
Ashburn Short Sales: A Good Example Of Lender Incompetence On Short Sales
Ashburn VA - We received the following e-mail a little while ago from another agent that does short sales. It illustrates how the current short sale guidelines hurt the housing market and homeowners short selling their house.
http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
The following e-mail shows you why it is important that you have an experienced short sale agent help you. Here is the e-mail.

"I have a short sale listing with a large national lender. I … (0 comments)

ashburn short sales: Ashburn Short Sales: How Do I Get A Loan Mod On An FHA Loan? - 03/29/11 04:58 AM
Ashburn Short Sales: How Do I Get A Loan Mod On An FHA Loan?
Ashburn VA - The Stop Foreclosure recently received a question from Grant. Here was his question.
"I have an FHA loan and want to get a loan modification. My bank is playing hardball and won't modify the loan at all. My friend got a loan modification and said it was pretty easy. What can I do to modify my loan?" Grant.
http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Here is the answer.I don't know the specific rules for … (0 comments)

ashburn short sales: Ashburn Short Sales: What Does I Mean When The Bank Says File Is Going To Investor Soon? - 03/28/11 05:02 AM
Ashburn Short Sales: What Does I Mean When The Bank Says File Is Going To Investor Soon?
 

Ashburn VA - The Stop Foreclosure Institute recently received a question from Georgia E. Here was her question.
" When the bank says the file should be going to an investor soon what does that mean?" Georgia E.

http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Here is the answer. It means that whoever ultimately owns the loan will make the decision. For example, you might be negotiating the short sale with Wells … (0 comments)

ashburn short sales: How will a Ashburn Short Sale or loan modification affect my credit score? - 03/25/11 03:51 AM

Ashburn Short Sales: How will a Ashburn Short Sale or loan modification affect my credit score?
Ashburn VA - How do foreclosures, loan modifications or short sales affect a credit score? Your credit score will be affected by late mortgage payments and a short sale.
However, there are 2 things that are considered horrible on your credit report. Those 2 are items are foreclosure and bankruptcy.
http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
A foreclosure or bankruptcy will almost immediately lower a credit score by around 100 to 120 points. (The … (0 comments)

ashburn short sales: How To Preserve Your Credit During a Ashburn Short Sale - 03/24/11 04:16 AM
Ashburn Short Sales: How To Preserve Your Credit During a Ashburn Short Sale
Ashburn VA - If the right decision for you and your family is to sell the house as a short sale, then the sale will have an immediate effect on your credit score.
http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
You might feel like it's just overwhelming and demoralizing to see your credit score take any more hits!
But, here's the silver lining: according to most experts, 78% of Americans have ERRORS on their credit score. Why is that … (0 comments)

ashburn short sales: Ashburn Short Sales: Why Do Some People Worship Perfect Credit? - 03/23/11 04:46 AM
Ashburn Short Sales: Why Do Some People Worship Perfect Credit?
Ashburn VA - It always amazes me how some people will do anything to have perfect credit. They would rather go hungry than risk harming their prefect credit rating.
A good example is a guy I will call Seth. Seth has perfect credit. He has worked to keep perfect credit for the last 12 years.
http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Seth has a several credit cards with high balances. He ran the balances up when the economy was strong.
Today, … (0 comments)

ashburn short sales: Should I Continue Paying My Credit Cards During a Ashburn Short Sale? - 03/22/11 04:59 AM
Ashburn Short Sales: Should I Continue Paying My Credit Cards During a Ashburn Short Sale?
Ashburn VA - The Stop Foreclosure Institute recently received a question from Paul. Here is Paul's Question.
"I am selling my house as a short sale. I am behind on the mortgage payments. Do you think I should still pay my credit cards?" Paul.
http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Here is our answer. I all depends on what is important to you. Can you afford your mortgage payment if you stopped paying the credit cards?
(0 comments)

ashburn short sales: Ashburn Short Sale: Get Your Loan Mod Approved When Negotiating With A Local, Ashburn Lender - 03/21/11 05:28 AM

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.
http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

No, … (0 comments)

ashburn short sales: Ashburn Short Sales: Even The Rich Are Being Foreclosed - 03/21/11 05:02 AM
Ashburn Short Sales: Even The Rich Are Being Foreclosed
Ashburn VA - This is good news or bad news, depending on how you look at it. Here is the good news.
If you are a little guy having financial problems, then you are not alone. Even Billionaires are being foreclosed on.
One billionaire real estate developer in Florida had several projects foreclosed on. Another very well known real estate developer is having to re-negotiate mortgages on his investment properties.
http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Even a woman who was married … (0 comments)

ashburn short sales: Ashburn Short Sales: Four Specific Examples of Big Bank Negligence - 03/17/11 02:10 AM
Ashburn Short Sales: Four Specific Examples of Big Bank Negligence
Ashburn VA - Here are four specific examples of big bank's negligence causing a loan owner to lose money.
http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Example #1: Not giving buyers an answer on a short sale within one week. Home buyers don't like to wait 3-6 months for an answer on a short sale. This fact causes many buyers to shy away from short sales, thereby causing short sales to sell for less.
Lenders should help the loan owners recoup as … (0 comments)

ashburn short sales: What The Big Banks Don't Want You To Know About Ashburn Short Sales - 03/16/11 06:12 AM
Ashburn Short Sales: What The Big Banks Don't Want You To Know About Ashburn Short Sales
Ashburn VA - Here is a shocking fact that most of the American Public doesn't know. Most mortgages are not owned by banks.
http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

In addition, most of the huge losses on bad mortgages was not lost by the banks themselves. Instead, the biggest loser was Uncle Sam, thru the takeover of Fannie Mae and Freddie Mac.
Most mortgages are sold after they are made. We estimate that around … (0 comments)

ashburn short sales: Ashburn Short Sales - 03/16/11 03:48 AM
 
Ashburn Short Sales
Ashburn VA - The Stop Foreclosure Institute recently received a question from Durry. Here was Durry's Question.
"We have American Home Mortgage Servicing, a loan processor for a Mortgage held by Deutche Bank, adding a 1% "processing fee" that ONLY the buyer can pay at closing.
This was never revealed until we received the short sale approval letter. The buyer is upset."   -Durry-
http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Here was our answer to Durry's Question. Yes, the buyer is upset. Buyers think they are in control … (0 comments)

ashburn short sales: Ashburn Short Sales - 03/15/11 01:01 PM
Ashburn Short Sales

Ashburn VA - Sometimes it seems like short sales are tough. "Don't try to short sale your house. Short Sales never go thru", people tell you.
http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
This isn't true. Here is how one agent beat the odds and succeeded with a short sale.
A member of the Stop Foreclosure Institute told me about a short sale he recently worked on. Here is the story from the member.
"I had a short sale with a large national lender. The loan was owned … (0 comments)

 
Kyle Mazaris, Loudoun/Fairfax/Arlington (RealEstate.com Realtors)

Kyle Mazaris

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Sterling, VA

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