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)

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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real estate: A Common Bellevue Short Sale Myth: Banks Don't Approve Short Sales Because They Don't Want To Admit Their Losses - 09/20/12 04:41 AM
Bellevue WA – I’ve heard the following myth from a lot of people. I’ve even seen this myth publicized in newspaper articles and quoted by so called financial experts.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is what people tell me.
“The banks can’t afford to approve loan modifications because they don’t want to take the losses on their books that fast.
Also, their investors may not approve the short sale, because See Entire Post
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real estate: How Do I Get Back On My Feet After A Bellevue Short Sale? - 09/20/12 04:36 AM
Bellevue WA – It is very stressful to be upside down and facing foreclosure. You are worrying about everything. You find yourself thinking, “When is the bank going to kick me out?
“How will I pay back that huge debt?” “When will I ever be able to stop worrying about money?”
“I remember when I did not worry about money. How did I do that?” See Entire Post
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real estate: This Strategy Makes Bellevue Short Sales Easier - 09/20/12 04:27 AM
He told a story about negotiating a price on a product he was purchasing. The first person he talked to told him that he couldn’t buy something in bulk for a certain price.
Rather than argue with her, he instead hung up See Entire Post 
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real estate: Why Do Some Bellevue Short Sales Succeed While Others Fail? - 09/20/12 04:19 AM
Bellevue WA – Short Sales can be frustrating. Ask anyone who has negotiated a short sale with a lender and they will tell you the process is tough. Here is a story that illustrates this point.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
You are negotiating a short sale with a lender. You call in and See Entire Post
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real estate: How A Bellevue Short Sale Can Help Save The Bellevue Housing Market - 09/12/12 06:02 AM
Bellevue WA – Short Sales and foreclosures have a big impact on home values. But, how they affect them varies dramatically. Every short sale helps stabilize the housing market.
The reason is because short sales sell for much more than a foreclosed property does. Most short sales have a homeowner who still lives there. The homeowner has kept the home in good shape.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
They See Entire Post
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real estate: Bellevue Short Sales: How Banks Were Able To Make Risky Loans With Little To No Risk - 09/10/12 03:39 AM
Bellevue WA – Bear Stearns was a survivor. It survived the Great Depression without laying off any employees. It survived World War II, and 9/11. What killed it off during a time of peace and relative stability?
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
The problem was that it had See Entire Post
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real estate: Yes, There Actually Are Guidelines For Lenders Approving Or Denying A Bellevue Short Sale - 09/07/12 03:38 AM
Bellevue WA – Convincing a lender to approve a short sale isn’t that difficult when you know the guidelines they are forced to follow. I have mentioned it elsewhere on this blog, but I will mention it again.
Around 80% of all loans held by large national lenders (such a Bank of America or Wells Fargo) are not owned by that bank.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
In these cases, the lender is acting as a servicer for the actual owner of the loan. They will approve or reject the short … (0 comments)

real estate: How Do I Get Back On My Feet After A Bellevue Short Sale? - 09/07/12 03:33 AM
Bellevue WA – It is very stressful to be upside down and facing foreclosure. You are worrying about everything. You find yourself thinking, “When is the bank going to kick me out?
“How will I pay back that huge debt?” “When will I ever be able to stop worrying about money?”
“I remember when I did not worry about money. How did I do that?” All those thoughts and more run through your head.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
A short sale helps you stop worrying. Most people find a place … (0 comments)

real estate: How To Write A Hardship Letter For A Bellevue Short Sale - 08/31/12 04:13 AM
Bellevue WA – A hardship letter is one of the most important items in a short sale. This is your opportunity to explain why your lender should approve your short sale and let you walk away from the debt.
In clear terms, you need to layout exactly why you can no longer afford to keep the property.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Under no circumstance should you say any of the following.
* “I don’t want   See Entire Post 
(0 comments)

real estate: A List Of Everyone Who Benefits From A Bellevue Short Sale - 08/29/12 04:29 AM
Bellevue WA – First, it benefits the owner of the loan. The owner can be the bank or a third party such as Fannie Mae or Freddie Mac. They are Quasi-Governmental Entities.
The American Taxpayer has bailed them out to the tune of hundreds of millions of dollars and will continue to bail them out for any future losses.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
These two entities own about See Entire Post
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real estate: Bellevue Short Sales: How Your Bank Benefits When They Approve A Loan Modification You Can Afford To Pay - 08/28/12 04:34 AM
Bellevue WA – There is a hidden secret in the foreclosure business. Many lenders are losing money by turning down loan modifications.
Here is how it works. A borrower offers to pay his lender the monthly payment for a $400,000 mortgage. The lender turns it down and forecloses on the home.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
They put the home on the market and it ends up selling for less than $400,000. If it sells for $350,000, then we could easily argue that they lost $50,000. Let me give you a … (0 comments)

real estate: The Pros And Cons Of A Bellevue Short Sale - 08/24/12 06:23 AM
Bellevue WA – There are many benefits of a short sale. Many people don’t see the benefit. They don’t do anything to avoid foreclosure and let their bank foreclose.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Benefits of a Short Sale:
1. A short sale often allows the seller to walk away owing nothing. You are often able to negotiate away all the debt. Banks know they will net more money with a short sale versus foreclosure.
In fact, a recent study showed banks would net 20% more money with a short sale versus … (0 comments)

real estate: Why A Bellevue Short Sale Is A Better Alternative Than A Deed-In-Lieu Of Foreclosure - 08/23/12 07:08 AM
Bellevue WA – If you are facing foreclosure, then I’m sure you’ve heard of a Deed In Lieu of foreclosure. Some people say it is a great way to avoid foreclosure.
Actually, all it does is accelerate the foreclosure process.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here are the most common myths about a Deed In Lieu.
See Entire Post
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real estate: Bellevue Short Sale Question: Should I Stop Paying My Mortgage During The Short Sale Process? - 08/22/12 06:25 AM
Bellevue WA – We are often asked by short sale sellers whether or not they should continue paying their mortgage payment while they attempt to short sell their home.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here is the quick answer. Yes, if you care about your credit rating. No, if you don’t care about your credit.
However, See Entire Post
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real estate: How A Bellevue Short Sale Can Stop Foreclosure - 08/21/12 07:27 AM
Bellevue WA – There are many reasons to use a short sale to stop foreclosure. If you want to keep your home, then you need to attempt a loan modification.
If you do not want to keep your home, then you need to consider your options. There are 3 options if you do not want to keep your home.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Option #1: See Entire Post 
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real estate: How A Bellevue Short Sale Works If You Have An FHA Loan - 08/21/12 04:28 AM
Bellevue WA – You can short sale your house if you have an FHA loan. FHA will forgive you of all the debt and does not ask for a promissory note.
That is the case if you are short selling because of a legitimate hardship. Here is how the process works on an FHA short sale.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
You send all of the standard See Entire Post
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real estate: Thinking About A Bellevue Short Sale? Don't Let Your Lender Levy Your Bank Account - 08/21/12 04:24 AM
Bellevue WA – I have feared this for a long time. But today I found out that it is actually happening. Here’s the story.
Someone is short selling their home. The mortgage is with ABC Bank. They happen to have their checking or savings account at ABC Bank.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
They stop paying on their See Entire Post 
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real estate: How a Bellevue Short Sale works on a loan owned by Fannie Mae - 08/16/12 06:31 AM
Bellevue WA – Fannie Mae stands for Federal National Mortgage Association. Fannie Mae is a quasi-government enterprise that was created to buy mortgages from banks, thereby allowing them to make more loans.
Short Sales on a Fannie Mae owned loan are much simpler than other short sales.Around half of all US mortgages are owned by Fannie Mae or Freddie Mac.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
That means See Entire Post 
(1 comments)

 
Paul Nelson, Paul Nelson (Homes Northwest)

Paul Nelson

Paul Nelson

Bellevue, WA

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