bank short sale: Another Strategy To Help Convince Your Lender To Approve Your Bellevue Loan Modification - 03/15/13 03:21 AM
Bellevue WA – Lenders hate losing money. They hate loan modifications, principal reductions, and any other thing that causes them to lose money.
But, in today’s tough economy they have no choice but to accept them. The primary reason a lender will grant a loan modification is because that usually reduces their losses.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
If they foreclosed on the house instead, then the losses would be larger. Besides most foreclosures take 18-24 months and often longer.
(That alone should convince you that their losses will be larger … (0 comments)

bank short sale: 3 Common Mistakes Being Made On Bellevue Short Sales - 03/13/13 06:02 AM
Bellevue WA – I see a lot of agents making mistakes on short sale 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.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
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 and why it is selling for that price.
The lender will … (0 comments)

bank short sale: A Common Myth About Escalating A Bellevue Short Sale File - 03/06/13 04:54 AM
Bellevue WA – 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 through 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.”
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Treat the Short Sale Escalation Process like a sales process. Don’t treat it like just another technical process that you do for no reason.
Don’t … (0 comments)

bank short sale: Bellevue Short Sales: What To Do When The Lender Won’t Approve The Short Sale - 03/06/13 04:51 AM
Bellevue WA – If you are doing short sales, then you must learn how to escalate a file. Here’s why.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
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 Stop Foreclosure Institute.
We had a house on the market for 4 months. We started … (0 comments)

bank short sale: Banks Are Approving Short Sales in Bellevue - 03/06/13 04:47 AM
 
Bellevue WA – The Stop Foreclosure Institute sometimes receives e-mails from people that short sales are impossible. Well, short sales are not impossible. They just take time. Here is an example.
The Stop Foreclosure Institute was attempting a short sale on a property. The bank turned down an offer for $220,000 on the house.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Today it looks like an offer for 185k will be approved. Why is that? The first offer was submitted 4 months ago.
The bank did an appraisal. The appraiser thought the … (0 comments)

bank short sale: A Little Known Fact About Bellevue Short Sales - 03/06/13 04:29 AM
Bellevue WA – Sometimes it seems like short sales are tough. “Don’t try to short sale your house. Short Sales never go thru”, people tell you.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
You see, we’ve spent the last few years figuring out all the guidelines for short sales.
If the loan being shorted is an FHA Loan, VA Loan, Fannie Mae Loan, or Freddie Mac Loan, then the guidelines for the short sale are different.
In this case, the loan being shorted was an FHA loan. Here’s what happened.
FHA puts out … (0 comments)

bank short sale: Another Example Of Bellevue Short Sale Lenders Attempting To Abuse Their Power - 03/06/13 04:19 AM
Bellevue WA – 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.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here was our answer to Durry’s Question. Yes, the buyer is upset. Buyers think they are in control in today’s market.
They can’t see … (0 comments)

bank short sale: Bellevue Short Sales: This Short Sale Negotiator Isn’t Doing His Job - 03/06/13 04:05 AM
Bellevue WA – Here is a question that the Stop Foreclosure Institute recently received. “I am in the middle of a very long negotiation with Chase.
The seller had me to put a clause into the contract stating “upon approval of short sale by seller’s lender, lenders, & or affiliates, client, or heirs will be released from any monetary shortages or deficiencies from said sale of stated property upon successful closing and transfer of title from that date and forevermore.”
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
The short sale negotiator at the … (0 comments)

bank short sale: Bellevue Short Sales: How To Negotiate A Loan Mod With A Local Lender - 03/06/13 03:42 AM
Bellevue WA – 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.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
No, common sense does not apply in these situations! The good news is that common sense does apply when you are dealing … (0 comments)

bank short sale: Can Banks Get In Trouble For Taking Too Long To Process A Bellevue Short Sale File? - 03/05/13 02:32 AM
Bellevue WA – We received a lot of feedback from yesterday’s post.
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 I changed for this post.)
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
First off, we are not saying that all agents are incompetent. However, we do see some … (1 comments)

bank short sale: How Does Shadow Inventory Affect My Home Sale? - 02/17/11 06:22 AM

As a Real Estate Agent, I spend many hours a week researching just about anything that is going to affect the market in which I work. Over the last year I have followed the number of Lis Pendens that have been filed with the County Clerk of Courts office. This is a good indicator of the number of distressed properties that will be hitting the market in the next year or two.
Distressed property sales are either short sales or foreclosures. Lis Pendens is the first step in the process of the lender or bank taking back the property. If … (3 comments)

 
Paul Nelson, Paul Nelson (Homes Northwest)

Paul Nelson

Paul Nelson

Bellevue, WA

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Homes Northwest

Address: 800 Bellevue Way NE, Suite 400, Bellevue, Washington, 98004

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