nelsons town and country: Bellevue Short Sale Question: Why Do I Have To Short Sale If I’m Willing To Repay The Debt? - 05/08/13 02:37 AM
Bellevue WA – The Stop Foreclosure Institute recently received a question from another agent. Their seller had a misconception about what to do when selling an upside down home.
Here is the question we received: “Do you have a number to contact Fannie Mae? The bank will not allow the seller to not do a short sale and agree to repay the loss on a promissory note.
The seller wants to talk to the owner of the loan, which is Fannie Mae. My seller just wants to sell and move on with her life. Janet.”
Click here to discover how other sellers … (0 comments)

nelsons town and country: 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)

nelsons town and country: Bellevue Short Sales: Why A Second Mortgage Is Willing To Negotiate On A Short Sale - 05/06/13 07:34 AM
Bellevue WA – After yesterday’s blog post, I am sure that some people were wondering why a Second Mortgage or HELOC gets zero from a foreclosure. Let me explain why.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
When a property is foreclosed upon, it is auctioned on the courthouse steps.Let me give you a scenario where a homeowner owes the following on the property.
First Mortgage is owed $200,000.
Second Mortgage is owed $40,000.
There is a HELOC (Home Equity Line of Credit) that is owed $100,000. (The home increased in value to $400,000 and a lender … (0 comments)

nelsons town and country: 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)

nelsons town and country: Must see OPEN HOUSE this Sunday (4/14) 1:00-3:00 PM - 04/11/13 08:43 AM
5 br 3140 sq ft Remodeled Multi Level View Home on Inglewood Hill in Sammamish



(1 comments)

nelsons town and country: 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)

nelsons town and country: Open House Tomorrow (4/7) 1:00-3:00 PM - 04/06/13 03:40 AM
Cosmetic Fixer minutes to downtown Bellevue



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nelsons town and country: Thinking About A Strategic Default in Bellevue? Here Is The Step By Step Process We Recommend That You Follow - 04/01/13 08:10 AM
Bellevue WA – Here are the recommended steps to take before you strategically default. We have consulted a financial expert who recommends these steps before strategically defaulting.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
He believes that taking these steps will reduce the likelihood of your lender pursuing you after a short sale or foreclosure. We have to warn you of what could happen if you take these steps.
If you stop paying your credit cards, car loan, or house payment, then you could lose your house, car, and face lawsuits from your … (0 comments)

nelsons town and country: 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)

nelsons town and country: Thinking About A Strategic Default in Bellevue? Consider A Different Alternative - 03/28/13 04:56 AM
Bellevue WA – Banks must hate Strategic Defaults. A person who walks away from hundreds of thousands of dollars in debt gets on their nerves.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
It must bug them so bad that Fair Isaac, the founder of the FICO score, came out with a program that tracks strategic defaults. Here is the story according to Inman News:
“Article Title: FICO to walkaways: You’re on our screen
Fair Isaac, developer of the ubiquitous FICO score, has a new warning for homeowners plotting a strategic default or walk … (0 comments)

nelsons town and country: Bellevue Short Sales: The Most Effective Way To Stop Debt Collector Harassment - 03/27/13 09:27 AM
Bellevue WA – Debt collectors are infamous for multiple phone calls at all hours of the day. One person told the Stop Foreclosure Institute that he would receive several phone calls the first thing Sunday Morning.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
“They would call my home phone at 8:15AM on Sunday. This was the only day that I had to sleep in and they woke me up. I had 2 other people call me before noon”, he told us.
This is the biggest complaint the Stop Foreclosure Institute has heard about … (1 comments)

nelsons town and country: OPEN HOUSE TOMORROW (3/24) 1:00 PM - 3:00 PM - 03/23/13 02:04 AM
5 br 3140 sq ft Remodeled Multi Level View Home



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nelsons town and country: Bellevue Short Sales: Do Debt Collectors Break The Law? - 03/21/13 01:38 AM
Bellevue WA – You would be shocked ad how many times I have seen debt collectors use illegal debt collection techniques to collect on unpaid bills or credit cards.
For example, there are Federal Laws that regulate what a debt collector can do or say. They aren’t allowed to threaten to sue you, but then not follow through and actually file suit.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
To get around this rule, they will use language that sounds legal, but isn’t.
In one situation, a debt collector in Buffalo, New York … (0 comments)

nelsons town and country: Bellevue Short Sales: How Soon Will I Have To Move Out When I Am Facing Foreclosure? - 03/21/13 01:33 AM
Bellevue WA – The Stop Foreclosure Institute recently received a question from another Realtor named Sandy. Here is her question.
“An agent in my office currently has a listing under contract. It is a short sale, the sad thing is that the Large National Bank (to remain unnamed) notified the sellers that they had foreclosed a month ago.
Fact is, they had not foreclosed. The employee didn’t know what they were talking about. Valuable time and a buyer were lost during this fiasco. This deal is currently awaiting approval. There is no telling what will happen in the end.
My question … (0 comments)

nelsons town and country: 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)

nelsons town and country: Open House Today 1-3PM: Immaculate Townhome Walking Distance to Historic Issaquah Shops - 03/17/13 02:20 AM
Gorgeous Issaquah Townhome with 2 Car Garage



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nelsons town and country: Don’t Believe This Myth About Bellevue Short Sales: Banks Don’t Like Short Sales And Prefer Foreclosure Instead - 03/15/13 03:55 AM
Bellevue WA – One of the Stop Foreclosure Institute members talked to a homeowner recently about a short sale. Her house was close to being foreclosed upon.
She had thought about short selling the house. But, she had heard from her friends that banks don’t really like short sales and never pursued the option.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
The fact is that banks are better setup for foreclosures. It is only with the recent historic drop in home values that short sales have more common.
Banks always knew that a … (0 comments)

nelsons town and country: 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)

nelsons town and country: What Do I Have To Pay If My Bellevue Short Sale Is Not Successful? - 03/15/13 03:01 AM
Bellevue WA – The Stop Foreclosure Institute recently received this question from Tamra. Here is Tamra’s Question.
“I would like to hire you to help me short sale my house. However, I am concerned that if the short sale doesn’t go thru, then I will still owe you money. My friend told me to check on that before I started.
It is true that I would owe you money if the short sale didn’t go through? Tamra.”
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is the answer to Tamra’s question.
Tamra, No, … (1 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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