bank of america short sale: Don’t Believe The Common Myth That Bellevue Short Sales Are Difficult And Banks Never Approve Them
- 05/06/13 08:02 AM
Bellevue WA – The Stop Foreclosure Institute recently talked to a homeowner whose home had been sold on the courthouse steps. We asked if she had considered selling the home as a short sale. “I did, but I heard that short sales are difficult and not worth trying. My friend told me that the banks never approve them”, she told us. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. After we got off of the phone, we reviewed what she had lost. She lost the opportunity to protect her credit and to be able … (0 comments)
bank of america short sale: Bellevue Short Sale Question: My Lender Is Charging The Buyer A Fee To Buy My House
- 05/06/13 07:47 AM
Bellevue WA – The Stop Foreclosure Institute recently received a question from Brandon. Brandon is selling his house and something very interesting happened. Brandon’s Question: “My lender is tring to charge a 1% short sale processing fee to the buyer. Is that legal? The buyer is upset. They have stipulated that ONLY the buyer can pay the fee. This was never revealed until the short sale approval letter arrived. Brandon.” Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Our comments on this. Yes, the buyer is upset. Buyers think they are in control in today’s market. … (0 comments)
bank of america short sale: A Common Myth About Bellevue Short Sales: Lenders Can’t Write Off Too Much Loss At Once
- 04/17/13 02:41 AM
Bellevue WA – We at the Stop Foreclosure Institute receive emails all the time that go something like this “The Bank’s Short Sale Problems are not that simple. A bank can’t afford to write off too much loss at once. Also, their investors may not approve the short sale, because they can’t afford to write off too much loss at once either. And the circle goes on.” Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here is why this flawed assumption is incorrect. Most of the large, national banks do not own the mortgages they … (0 comments)
bank of america short sale: Thinking About A Strategic Default in Bellevue? Take These Steps First To Avoid Problems
- 03/29/13 06:15 AM
Bellevue WA – Yesterday, we told you about a new program that Fair Isaac, the founder of the FICO score, came out with to tracks strategic defaults. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. If you are thinking about a strategic default, then you must be aware of this. FICO claims to be able to notify a lender when someone has strategically defaulted, or looks ready to strategically default. This helps lenders implement additional collection procedures to get you to repay their loss. I spoke with an expert in the industry. I wanted to … (0 comments)
bank of america short sale: How Do I Remove A Surprise Lien On A Bellevue Short Sale?
- 03/21/13 01:25 AM
Bellevue WA – The Stop Foreclosure Institute recently received a question from James. Here is his question. “Do you have any suggestions on a surprise lien from a Water Softener company? We were able to get Bank of America to approve the short sale without paying the lien. It could take another 60 days for Bank of America to agree to pay the lien. The buyers don’t want to wait that long. Is there anything we can do? James.” Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here is the answer to James’s Question. … (0 comments)
bank of america short sale: Does Fannie Mae Pursue Deficiencies On A Bellevue Short Sale?
- 03/15/13 03:06 AM
Bellevue WA – The Stop Foreclosure Institute recently received a question from Steve. Here is his question. “We are doing a short sale with one of the largest nationwide banks. I told them I wouldn’t do the short sale unless they specifically changed their short sale approval letter to completely release me from the deficiency. The short sale negotiator told me that Fannie Mae would not allow them to release the deficiency. I read somewhere that Fannie Mae doesn’t pursue a homeowner after a short sale. I don’t know who to believe. What do you think? Steve.” Click here to discover … (0 comments)
bank of america short sale: Another Sad Example Of Lender Incompetence On Bellevue Short Sales
- 03/05/13 03:29 AM
Bellevue WA – We received the following email 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. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. The following e-mail shows you why it is important that you have an experienced short sale agent help you.Here is the email: “I have a short sale listing with a large national lender. I have been waiting for an answer since September. I finally received an answer last week … (0 comments)
bank of america short sale: What Would Dave Ramsey Think About A Bellevue Short Sale?
- 01/20/13 09:00 AM
Bellevue WA – You might have heard of Dave Ramsey. He has a popular radio program where he talks explains the benefits of getting out of debt. Dave is a zealot for the debt free life. "You don't need to see the inside of a restaurant unless you are working there", he will tell people in financial trouble that call his show. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. What does Dave recommend that someone should do in order to get out of debt? Reduce spending, eat at home, pay off high interest debt … (1 comments)
bank of america short sale: Will I Still Have To Pay Property Taxes If I Do A Bellevue Short Sale?
- 01/20/13 08:50 AM
Bellevue WA – The Stop Foreclosure Institute recently received a question from Paul. Here is Paul's Question. "I am thinking about a short sale, but I am behind on my property taxes. Will I still have to pay them if I short sale my home? Max." Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here is the answer to Paul's Question: In most cases your lender will pay those property taxes. Property taxes are a first priority lien on a property. That means that if a property is foreclosed upon, then they still have … (0 comments)
bank of america short sale: What To Expect During And After The Bellevue Short Sale Process
- 01/20/13 08:43 AM
Bellevue WA – Here are a few things you should not be surprised to see crop up during the short sale process. Unscrupulous Debt Collection Tactics. If you are facing financial hardship, then paying credit cards and other unsecured debts is your lowest priority. An unsecured debt is a debt where they can’t take away your car or house. A secured debt has something as collateral, such as your car, house, or anything else of value. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. The most common unsecured debt is a credit card. When you stop paying … (0 comments)
bank of america short sale: Bellevue Short Sales: How To Avoid Paying On A Short Sale Deficiency If All Else Fails
- 01/20/13 08:38 AM
Bellevue WA – I like to call this the "Nuclear Option." It is what you do when your lender demands a promissory note or they will not approve the short sale. A promissory note is not the end of the world. It will take a lot of work on their end to collect from you. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. If the lender forces you to sign a promissory note, then sign it and never make a payment. Here is what we recommend that you do to avoid paying the promissory note. It … (0 comments)
bank of america short sale: Bellevue Short Sales: How To Get A Short Sale Lender To Waive A Deficiency
- 01/20/13 08:26 AM
Bellevue WA – The Stop Foreclosure Institute recently received a question from John. Here is John's Question. "I just received a full price offer on my house. My main concern is that I don't get stuck having to pay off the deficiency. I have a first and 2nd with Chase and owe 270K on the home. The buyer's loan is also with Chase. How can I work this out so that I can walk away from this without owing any money? Is it even possible with such a large difference between what the house is worth and what is owed? John.” … (0 comments)
bank of america short sale: Bellevue Short Sales: I Have Mortgage Insurance. Won't That Cover The Deficiency?
- 01/20/13 08:20 AM
Bellevue WA – The Stop Foreclosure Institute recently received a question from Max. Here is Max's Question. "If I pay mortgage insurance and default on my loan, wouldn’t that cover the deficiency amount? Max." Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here is our answer to Max's Question: Yes, the Mortgage Insurance should pay your lender for any loss. So that reduces the amount that your lender will lose on the short sale. There are a couple of problems. Many Mortgage Insurance Companies have gone bankrupt. They can't pay on their claims. In this … (0 comments)
Bellevue WA – The Stop Foreclosure Institute recently talked to a homeowner whose home had been sold on the courthouse steps.
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