loan modification: Bellevue Loan Mod Help: Sick Of Your Loan Mod Taking Forever? Try Contacting Congress - 05/06/13 07:57 AM
Bellevue WA – We recently sent everyone in congress a fax about a certain large bank. They had done a lousy job on a short sale file. We waited 90 days for an answer on an offer.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
The buyer was impatient and canceled their contract. Fortunately we had a backup buyer. Instead of using the BPO that Freddie Mac paid for and reviewing the new offer, the negotiator closed the file.
Freddie Mac, the owner of the loan, stands to lose $75 spent on the BPO … (0 comments)

loan modification: Five Things to Take Into Consideration When Considering A Bellevue Short Sale - 04/17/13 02:36 AM
Bellevue WA – We at the Stop Foreclosure Institute receive calls all the time that go something like this “I have fought the bank for a year and half, and after paying thousands and thousands I have decided to short sale, can you help me”?
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Because of this, I decided to break down the reasons to short sale your home. In addition I added in a few reasons you should NOT consider A Short Sale:
Short Sale if you are a financial superman. If you are … (0 comments)

loan modification: How To Look At A Bellevue Short Sale From The Lender’s Perspective - 04/17/13 02:13 AM
Bellevue WA – The Stop Foreclosure Institute received a few responses from yesterday’s blog post. Most of the questions went something like this. “I think a lender would be stupid to approve an investment property short sale for a wealthy person. If I was the lender I would sue them for the loss. Jan.” The bottom line is that people didn’t think a lender would allow a wealthy person to walk away from the debt on an investment property.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here are a few reasons that a … (0 comments)

loan modification: How To Gain The Upper Hand In Negotiations By Showing Your Lender How Much They Will Lose If They Don’t Approve Your Loan Mod - 04/17/13 02:05 AM
Bellevue WA – Lenders often reject loan modifications only to lose more money when they sell the home after foreclosure. Here is how to prove the loss to them.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
When you request your free loan modification guide, you will have the option of also receiving a property valuation. This is called a BPO (short for Broker’s Price Opinion), and it is a real estate agent’s opinion of the value of a property. Lenders use BPOs to determine a property’s value for short sale processing. Find out … (1 comments)

loan modification: Bellevue Loan Mod Help: How Can We Pressure The Large Banks To Make The Loan Mod Process Easier? - 04/17/13 01:57 AM
Bellevue WA – The average American knows very little about what is happening with loan modifications. They think the banks are doing a great job helping people stay in their homes.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Little does the average American know that the banks are flubbing it. In my opinion, the biggest mistake that banks are making is rejecting profitable loan modifications. They would net more money on a loan modification than foreclosure. However, because the loan modification process is so tough they are foreclosing instead.
Most Americans would agree … (0 comments)

loan modification: Bellevue Loan Mod Help: How To Hold Your Lender Accountable When They Reject Your Loan Mod And Lose Money - 04/17/13 01:45 AM
Bellevue WA – In my opinion, the decision making process most lenders use to approve or deny a loan modification is flawed. It appears that the lenders have one thing in mind when you stop paying.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
They want to foreclose as quickly as possible. It appears that they don’t want homeowners to stay in the home. A foreclosure is much simpler and easier. So they just look at it as the main solution. If a homeowner can’t afford the payments, then the lender should have reducing losses … (0 comments)

loan modification: Avoid This Mistake When Negotiating A Bellevue Loan Modification - 04/09/13 06:36 AM
Bellevue WA – If you’re trying to get a loan modification, then you have think like a banker. How you present your finances is the key to success.
You’ve got to show them an income that’s not too high and not too low. If you show them too low an income, they’re going to say “Oh, this guy can’t afford his house payment.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
If we reduce his payment to $800, he won’t even be able to afford it anyway so what’s the point in reducing it? … (1 comments)

loan modification: Bellevue Loan Mod Help: How You Can Reduce Your Payments Without A Loan Modification - 04/02/13 02:21 AM
Bellevue WA – Getting a loan modification accepted is tough. Many that should have be accepted end up rejected. I recently saw a bank foreclose on a 400k mortgage.
The house sold for 130k! They would have made more money just cutting the homeowner’s payments in half! This kind of stupidity gets on my nerves.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Some people have mentioned a strategy that can help you reduce your payments without a mod. A person with two mortgages just stops paying the 2nd mortgage. I won’t recommend that … (0 comments)

loan modification: 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)

loan modification: Two Specific Examples of Big Bank Negligence on Bellevue Short Sales - 03/06/13 03:52 AM
Bellevue WA – Here are two specific examples of big bank’s negligence causing a loan owner to lose money.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
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 much money as possible from short sales. To do this, they make … (0 comments)

loan modification: 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)

loan modification: Bellevue Short Sales: How To Negotiate The Loan Modification You Deserve - 03/05/13 06:14 AM
Bellevue WA – Bankruptcy is one of the scariest words a lender can hear. A bankruptcy filing can stall their ability to foreclose by 6 months, and sometimes as long as a year.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
The lenders know that most bankruptcies will cause them to lose the ability to pursue you for any losses. This means they can’t go after you for any upside down debt.
The only thing a lender gets in a Chapter 7 Bankruptcy is any collateral they have on a loan. So they can … (0 comments)

loan modification: How Does A Bellevue Short Sale Or Loan Modification Affect My Credit Score? - 03/05/13 05:56 AM
Bellevue WA – 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.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
A foreclosure or bankruptcy will almost immediately lower a credit score by around 100 to 120 points.
(The number is not hard and fast – it all depends upon what the score was before the foreclosure, and … (0 comments)

loan modification: Do Banks Want To Do Bellevue Short Sales? - 06/06/12 12:06 AM
Bellevue WA – The Stop Foreclosure Institute recently received an email from Elaina. Here is what she had to say. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. "Hi, I am a Real Estate Agent. You have some good information on short sales. But, is it written assuming that banks actually want to do short sales. I have worked on a particular short sale with a large national bank. We started on it seven months ago. They sent out an appraiser a couple of months ago. Then, they said they were transferring the file … (0 comments)

loan modification: Report Unveils Tactics of Loan Mod Scammers - 04/25/11 04:31 AM
Report Unveils Tactics of Loan Mod Scammers
One in nine home owners are more than 90 days behind on their mortgage payments, which has prompted loan modification scams that promise to rescue home owners from foreclosure doom to skyrocket.
Four fair housing organizations released findings this week uncovering some of the most popular loan modification scam tactics after a yearlong investigation of about 80 companies.
According to the report, some of the common scam tactics used were: For complete story click here.
 
 
 
 
 
 
 
 
 
 
 
tags bank owned, bank owned home, Bellevue,Bellevue Foreclosure, … (0 comments)

loan modification: New Washington State Foreclosure law to help end loan mod run-around - 04/18/11 09:11 AM
New Washington State Foreclosure law to help end loan mod run-around  
By Connie Thompson
Loan modification programs are supposed to help you prevent foreclosure and for many, the programs have worked. But since they started in 2008, they've been the target of complaints about lender mistakes, negligence, and indifference.
"I think some of it truly is incompetence and being overwhelmed," said Seattle attorney Melissa Huelsman.
"But I think there's a lot of intentional incompetence. Certainly these modification programs have been inexistence now for three years. If they wanted to, they could have sufficient staffing and competent people on the other end … (2 comments)

 
Paul Nelson, Paul Nelson (Homes Northwest)

Paul Nelson

Paul Nelson

Bellevue, WA

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

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