Ashburn Short Sales: What Does I Mean When The Bank Says File Is Going To Investor Soon?

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Real Estate Agent with RealEstate.com Realtors

Ashburn Short Sales: What Does I Mean When The Bank Says File Is Going To Investor Soon?

 

Ashburn VA - The Stop Foreclosure Institute recently received a question from Georgia E. Here was her question.

" When the bank says the file should be going to an investor soon what does that mean?" Georgia E.

http://stopforeclosureashburn.info/short-sale.html Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here is the answer. It means that whoever ultimately owns the loan will make the decision. For example, you might be negotiating the short sale with Wells Fargo.

However Wells Fargo may not own the loan. (Around 80% of all the loans they service are owned by someone else.) Wells Fargo will take all of the short sale documentation and send it to the actual loan owner.

(The actual loan owner could be anyone from Fannie Mae, Freddie Mac, Goldman Sachs, a Pension Fund, or another Wall Street Entity.)

That loan owner will review the short sale file themselves. Then, they will either approve the short sale or deny it. If they deny it, then they will usually let you know why.

Then you can find out the reason they denied the short sale and re-apply. Often they want more money for the house, a missing document, of some other item.

It is a popular misconception that banks own all the loans they handle. Little do most people know that most loans have been sold to a third party.

Many experts agree that this was actually a good thing because it spread the losses across a lot of different people in the economy.

If all the losses has been with 3-4 large banks, then those banks would have experienced crippling losses. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at kmaz32@hotmail.com I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 571-420-7838

Thanks for reading this, Kyle Mazaris.

Kyle is a Real Estate Agent at RealEstate.com Realtors. Ashburn Short Sales Realtor:

Phone: 571-420-7838.
Email: kmaz32@hotmail.com

Kyle Mazaris specializes in loan modification assistance and short sales in Ashburn Virginia. Ashburn Loan Modification Help, Ashburn Short Sales. Ashburn Short Sale Realtor. McLean VA Loan Modification Help, McLean VA Short Sales. McLean VA Short Sale Realtor. Sterling VA Loan Modification Help, Sterling VA Short Sales. Sterling VA Short Sale Realtor. Great Falls VA Loan Modification Help, Great Falls VA Short Sales. Great Falls VA Short Sale Realtor. Reston VA Loan Modification Help, Reston VA Short Sales. Reston VA Short Sale Realtor. Ashburn VA Short Sales. Ashburn Realtor.

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