paul nelson: 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)

paul nelson: 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)

paul nelson: 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)

paul nelson: 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)

paul nelson: Another Common Myth About Bellevue Short Sales: You Have To Be Behind On Payments Before Your Lender Will Approve A Short Sale - 05/06/13 07:31 AM
Bellevue WA – This is a common myth that is promoted by people that do not understand lenders or the foreclosure process. However, it’s not true.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Many homeowners have short sold their home and never missed a payment. The lenders will approve a short sale where the seller has not missed a payment when the following is in place.
1. The homeowner owes more on their home than it is worth.
2. The homeowner has a verifiable hardship that will force them to miss their payments in … (1 comments)

paul nelson: 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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paul nelson: 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)

paul nelson: Bellevue Short Sales: How To Tell If A Debt Collector Is Breaking The Law - 03/27/13 09:21 AM
Bellevue WA – I’ve heard of debt collectors contacting people’s family and relatives trying to reach them for “an important business matter.”
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
When they tell the relative their business name, then it becomes obvious what is happening. They do this as an attempt to embarrass a debtor into paying them.
Here is what most debtors do not know. This is actually a violation of a Federal Law called The Fair Debt Collection Practices Act, provided the debt collector has your information already.
I have seen this happen … (0 comments)

paul nelson: 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)

paul nelson: Bellevue Short Sales: Why It Is Cheaper To Short Sale And Rent Versus Staying? - 03/06/13 04:41 AM
Bellevue WA – Many people are shocked that it is often cheaper to short sale and rent that staying in your home with a loan modification.
They find it hard to believe that they can rent a comparable or even nicer home for less than their mortgage. Here are the two factors that make it possible.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Many homeowners bought homes for more than they are selling for today. A perfect example is a homeowner that paid $450,000 for a home. His mortgage payment was around $3,200 … (0 comments)

paul nelson: Bellevue Short Sales: Even Billionaires Are Facing Foreclosure - 03/06/13 03:48 AM
Bellevue WA – This is good news or bad news, depending on how you look at it. Here is the good news.
If you are a little guy having financial problems, then you are not alone. Even Billionaires are being foreclosed on.
One billionaire real estate developer in Florida had several projects foreclosed on. Another very well known real estate developer is having to re-negotiate mortgages on his investment properties.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Even a woman who was married to a man who was the richest man in the … (0 comments)

paul nelson: 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)

paul nelson: Bellevue Short Sale Question: Does It Make Sense To Pay My Credit Cards If A Short Sale Will Harm My Credit Anyway? - 03/05/13 06:02 AM
Bellevue WA – The Stop Foreclosure Institute recently received a question from Paul. Here is Paul’s Question.
“I am selling my house as a short sale. I am behind on the mortgage payments. Do you think I should still pay my credit cards?” Paul.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is our answer. It all depends on what is important to you. Can you afford your mortgage payment if you stopped paying the credit cards?
If the answer is yes and you don’t want to move, then I would recommend that you … (0 comments)

paul nelson: 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)

paul nelson: 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 nelson: 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)

paul nelson: 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)

paul nelson: 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)

paul nelson: 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)

paul nelson: 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)

 
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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