short sale vs foreclosure: 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)

short sale vs foreclosure: 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)

short sale vs foreclosure: 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)

short sale vs foreclosure: Bellevue Short Sales: How One Agent Beat The Odds For Short Sale Success - 03/06/13 04:25 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.
That isn’t true. Here is how one agent beat the odds.
A member of the Stop Foreclosure Institute told me about a short sale he recently worked on. Here is the story from the member.
“I had a short sale with a large national lender. The loan was owned by Fannie Mae, not the lender. We had an over zealous … (0 comments)

short sale vs foreclosure: 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)

short sale vs foreclosure: Who Actually Makes The Decision On Approving Or Denying A Bellevue Short Sale? - 09/28/12 03:36 AM
Bellevue WA – Is your loan with a large lender such as Wells Fargo or Bank of America? They usually don't make the final decision on your short sale. Here is why. In most cases, the lenders are working as a servicer. They are handling the loan for a third party (the actual owner of the loan.) Click here to discover how other sellers successfully did a short sale and avoided foreclosure. This third party owner can be a corporation, a pension fund, a wall street firm, or split up between thousands of different people. Or the owner can be a … (0 comments)

short sale vs foreclosure: Bellevue Short Sales: How Can I Get An Answer On My Offer? - 06/05/12 11:59 PM
Bellevue WA – The Stop Foreclosure Institute recently received a question from Brad. Here was his question. "I made an offer to buy a short sale about 4 months ago. I have heard nothing except that they are going to re-submit the short sale paperwork to the lender. I am 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 agent? Please help! Brad." Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here was our answer to Brad's Question. … (0 comments)

short sale vs foreclosure: Common Short Sale Questions Answered. - 04/27/11 04:34 AM

What are the qualifications for a short sale?
The main qualification for a short sale is a financial hardship. This can include: loss of employment, divorce, relocation or job transfer, major illness, expensive repairs without the resources to make them, increased bills or higher living expenses. Typically you must prove your inability to pay your mortgage each month.
How does a short sale affect my credit?
Your credit could recover from a short sale in less than...click here for entire post
 
 
 
 
 
 
 
 
 
bank owned, bank owned home, Bellevue,Bellevue Foreclosure, Bellevue home prices, Bellevue … (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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