overland park short sales: Overland Park Short Sale Q & A: The Second Mortgage Wants More Than The First Mortgage Will Give Them
- 09/14/11 05:24 PM
Overland Park KS – The Stop Foreclosure Institute recently received a question from Aggie. Here was Aggie’s Question. “We received a short sale approval on the 1st. They will only pay the second mortgage $3,000. The problem is that the second mortgage wants $5,500. We are arguing back and forth with the second mortgage. The negotiator there said management decided they won't take less. I told her the final decision should come from the investors not from management. Any help greatly appreciated. Aggie. ” Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here is … (0 comments)
overland park short sales: The Homeowner's Bill of Rights
- 12/06/10 08:29 AM
Overland Park KS - The big banks made mistakes and received a bailout. They have the resources to lobby congress and the courts to have laws written to suit them. But, what has the little guy received? Nothing. So we decided to put together a Homeowner's Bill of Rights. It's time we had Washington look at what we want, versus taking care of the big banks. Considering that the big banks have way more rights than the little guy, here is what we think should be done to "level the playing field." The Homeowner's Bill of Rights. 1. Stop … (0 comments)
overland park short sales: Question from Homeowner: Why would I do a Short Sale instead of saving the monthly payments & letting it go?
- 12/04/10 04:05 AM
Overland Park KS - The Stop Foreclosure Institute recently received a question from Christy. “Why would I do a short sale instead of saving the monthly payments and letting it go into foreclosure?” Christy asked. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Here is the answer. If you stop paying your mortgage, then you can live in your home rent free for 12-24 months, depending on the state you are located within. I have seen lenders wait a year after the first missed payment just to file for foreclosure. Yes, … (3 comments)
overland park short sales: Citizen's "Wiki Leak": Large Bank causes investor to lose an estimated 40k thru incompetence
- 12/03/10 03:10 AM
Overland Park KS - Wiki leak's Editor, Julian Assange, recently said he would be releasing documents on a large US Bank. We decided to beat him to it and release some information on how a large US Bank caused their client to lose an estimated 40k because of their incompetence. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. This is a house that we drive past every day on my way to work. We noticed that it look abandoned. We looked up the owner to see if they might want to sell … (2 comments)
overland park short sales: Loan Servicer doesn’t follow VA Short Sale guidelines on a short sale of a VA Loan
- 12/01/10 03:15 PM
Overland Park KS - We recently negotiated a short sale on a VA Loan. After the appraisal is complete and all the other necessary document have been received. VA guidelines state the loan servicer should give us an answer within 15 days. The loan servicer took 65 days to give us an answer. That is a complete violation of VA’s requirements. “Oh, but that’s no big deal”, you might say. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. It is a big deal, because VA (and every single US Taxpayer) loses money as … (0 comments)
overland park short sales: Loan servicer demands a bribe from home buyer, or they won’t approve buyer's short sale offer.
- 11/30/10 07:54 AM
Overland Park KS - We had a short sale recently with a certain loan servicing company. The funny thing was that this loan servicer was hired by the owner of the loan to work on behalf of them. In other words, the loan servicer was to look out for the loan owner's best interest. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Processing and approving a short sale will usually avoid future losses on a mortgage. Boston Consulting Group recently did a study on the difference between a short sale and foreclosure. They found … (0 comments)
overland park short sales: Overland Park Short Sales: A Few Examples of Loan Servicers Not Doing Their Job
- 11/29/10 04:56 AM
Overland Park KS - Most people think the person they mail their mortgage payment to every month is the owner of their loan. Not so. In fact, most of the time, they are not the owner. As an example, 80% of all loans that Bank of America handles are not owned by Bank of America. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. The largest owners of US mortgages are two companies that some would allege are owned by Uncle Sam. They are Fannie Mae and Freddie Mac. They own an estimated 55-60% … (1 comments)
overland park short sales: Overland Park Short Sales: Are homeowners able to sue their lender for damages after a foreclosure?
- 11/23/10 11:04 AM
Overland Park KS - I am following up on a question from Arman. His loan was owned by Fannie Mae and the company handling the loan for Fannie Mae was rejecting an excellent short sale offer for no reason. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Here is a quick recap of what I recommended Arman do. Step #1: Call up IBM and demand a written letter explaining why they are declining the short sale offer. Step #2: Write down what you project your damages are going to be if the property … (0 comments)
overland park short sales: Question from homeowner: I want to avoid foreclosure, but my lender won’t let me
- 11/22/10 03:21 AM
Overland Park KS - The Stop Foreclosure Institute recently received a question from Arman. Here is his question. I am a Seller trying to avoid foreclosure. My agent has a buyer and his offer is with the lender from last seven months. Now the lender told us that Fannie Mae investor refused the short sale offer and the house is going to foreclosure early next week. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. The lender’s own appraisal shows the house is worth $120K. The offer we have is for $150K. I told the … (1 comments)
overland park short sales: Question from homeowner: My homeowner’s insurance won’t renew my policy because my loan is in foreclosure
- 11/18/10 01:52 AM
Overland Park KS - The Stop Foreclosure Institute recently received a question from Tim. Here is Tim’s Question. “I have an elderly friend who recently finalized a loan modification through her lender. The mortgage company shows on their website that the mod has been processed and the new terms are in effect. However, since foreclosure proceedings were begun before the mod was approved, her homeowner’s insurance holder will not renew her coverage policy, since the local Clerk of Courts records show that the loan is in a foreclosure process. The mortgage company has not sent the Clerk of Courts notice that … (2 comments)
overland park short sales: Question from homeowner: My lender just sold my loan. Is that a good thing?
- 11/17/10 02:40 AM
Overland Park KS - The Stop Foreclosure Institute recently received a question from James. “My loan was just sold. I was making payments to CitiFinancial and they sold it to Nationstar. Is that good or bad?” James asked. Discover how other sellers successfully did a short sale and request a free consultation by clicking here. Here is the answer. It’s neither good nor bad. In fact, I don’t think your loan was sold. You see, most loans were packaged up and sold to Fannie Mae, Freddie Mac, or Wall Street. James’s loan was more than likely packaged up and sold … (1 comments)
Overland Park KS - I'm sure you have heard about forensic loan audits. I've heard people say how wonderful they are. "Your lender will approve your short sale right away", claims one. Discover how other sellers successfully did a short sale and request a free consultation by clicking here. An agent told me a story about forensic loan audits. He worked with a woman who was trying to short sales 3 houses. He knew they were short sales and was glad to list them for sale. There was a guy involved who was supposed to be doing all … (0 comments)
overland park short sales: Overland Park Short Sales: Another thing that is dragging on the economy
- 11/14/10 04:24 AM
Overland Park KS - The Stop Foreclosure Institute received another testimonial from a seller. She said a lot of stuff and it refreshed my memory. The average person just doesn't realize how "going broke" makes people feel like trash. People start doubting themselves. They keep on kicking themselves down mentally. "Why did I buy that house?" "Why didn't I work harder at my job, so I wouldn't get laid off?" Why did I get laid off, and not Joe?", they say to themselves. "I am such a loser and I can't find a decent job anymore!" Discover how other … (0 comments)
overland park short sales: What to do when they won't allow you to "escalate" the short sale file
- 11/12/10 05:57 AM
Overland Park KS - Yesterday I gave you a good example of why you should "escalate" a short sale file. The Stop Foreclosure Institute took a short sale that wasn't going to be approved, pushed for an approval, and received it. As a result a homeowner avoided foreclosure, a buyer was able to buy the home they wanted, the bank reduced their losses, and we made a little money. There are a few problems you may run into when you attempt to escalate a file. Sometimes the negotiator won't give you their supervisor's info. They won't order a new appraisal … (0 comments)
Overland Park KS - What do you do when the house won't sell for any more money, but the bank keeps on rejecting the offers? You can give up, but the seller may lose their home 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. Discover how other sellers successfully did a short sale and request a free consultation by clicking here. We had a house on the market for 4 months. We started the price at 200k and slowly brought it down to … (0 comments)
Overland Park KS – The Stop Foreclosure Institute recently received a question from Aggie. Here was Aggie’s Question.
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