paul e nelson real estate: How Do You Handle Multiple Offers On A Bellevue Short Sale? - 05/08/13 02:32 AM
Bellevue WA – The Stop Foreclosure Institute recently received a question from another agent. Here was her question.
“I have a short sale listed. At what time in the short sale process do you stop accepting additional offers for submittal to the lender? If you accept another offer after you’ve already submitted one to the lender, does it reset your timeline to the beginning?
Do you just put them in backup position? What about the poor buyer whose offer was submitted and has already been waiting for weeks for lender approval?
Do you allow them to match the higher offer? You guys have … (0 comments)

paul e nelson real estate: Bellevue Short Sale Question: Are Fannie Mae Short Sales Tough? - 05/06/13 07:39 AM
Bellevue WA – Another agent recently e-mailed the Stop Foreclosure Insitute. They were having a hard time with a short sale on a Fannie Mae Loan.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is an excerpt from the agent’s e-mail.
“I spoke with Josh @ Fannie Mae. He said that once there is a foreclosure sale, per an agreement with the lender, Fannie Mae would pay the lender the full balance of the note.
I started to comment that what incentive is there for the lender to process a short sale. He … (0 comments)

paul e nelson real estate: Bellevue Short Sales: Why Is The Bank Taking So Long To Accept My Offer? - 04/17/13 02:25 AM
Bellevue WA – The Stop Foreclosure Institute recently received a question from Cathy. Here was her question. “I am trying to buy a house that is a short sale. It has been 4 months and we have heard nothing. The agent did mention that they are now on the 2nd negotiator and still haven’t heard from the negotiator. I am getting very frustrated. Is there anything I can do on my end to try to push the process along, or is it all up to the agents? Cathy.”
Click here to discover how other sellers successfully did a short sale and … (1 comments)

paul e nelson real estate: 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)

paul e nelson real estate: Must see OPEN HOUSE this Sunday (4/14) 1:00-3:00 PM - 04/11/13 08:43 AM
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paul e nelson real estate: 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)

paul e nelson real estate: Bellevue Short Sales: Another Way To Tell If A Debt Collector Is Breaking The Law - 03/27/13 09:20 AM
Bellevue WA – Debt collectors are very creative in their attempts to convince debtors to pay. Fortunately we have the law protecting us called the Fair Debt Collection Practices Act.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
I don’t know what happened before the law was passed. But, after reading thru the law, you can see it was pretty bad.
It sounds like debt collectors would call late at night, threaten debtors with violence, use profane language, and do anything else they could think of to harass debtors into paying.
Fortunately the law … (0 comments)

paul e nelson real estate: OPEN HOUSE TOMORROW (3/24) 1:00 PM - 3:00 PM - 03/23/13 02:04 AM
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paul e nelson real estate: 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)

paul e nelson real estate: 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)

paul e nelson real estate: Price Reduction!! Open House this Sunday 1-3PM: Inglewood Hill Paradise with Partial Views - 03/08/13 03:47 AM
5 br 3140 sq ft Remodeled Multi Level View Home



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paul e nelson real estate: New On Market!! Open House this Sunday 1-3PM: Cosmetic Fixer minutes to downtown Bellevue - 03/08/13 03:41 AM
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paul e nelson real estate: 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)

paul e nelson real estate: 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)

paul e nelson real estate: 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)

paul e nelson real estate: Thinking About Short Selling Your Upside Down Bellevue Home? Here Is Why A Short Sale Causes Your Home To Sell For More - 03/06/13 04:34 AM
Bellevue WA – People often wonder why their lender will release their debt in a short sale.
Most lenders don’t like to release the debt. But, they agree to do it because they know that policy nets them more money.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
They net more because a home usually sells for more money as a short sale versus after it has been foreclosed upon. Let’s go thru a few examples.

See the home in the picture above? You can see that it is good shape. Most short sales … (0 comments)

paul e nelson real estate: 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)

paul e nelson real estate: 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)

paul e nelson real estate: Do Bellevue Short Sales Really Take 6-8 Months To Complete? - 03/05/13 05:50 AM
Bellevue WA – 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 for 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.”
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
John, I think you should run for the hills. We see a lot of agents quote 6-8 months for a short sale response. … (3 comments)

paul e nelson real estate: Bellevue Short Sales: Don't Risk Having Your Short Sale Rejected Because Of Bureaucracy - 09/21/12 05:34 AM
Bellevue WA – “I can’t process this short sale without the TPS form filled out with the seller’s full name”, the short sale negotiator told him.
“But, based on my calculations, this short sale will help your company avoid a $17,000 loss”, the agent replied.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
The agent continued, “So, you’re telling me that unless I can get you the See Entire Post
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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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