Columbus OH – This is a short sale myth we've seen tossed around. Some
people in the media even suggested that banks were delaying foreclosures to
delay losses being recorded on their books.
Click here to discover how other sellers successfully did a short sale and avoided
foreclosure.
Here is what I think is the real reason: The bank departments
that handle foreclosure are understaffed.
After all, foreclosures increased hugely since the housing crisis started. The
banks have tried desperately to hire on more staff.
But, it takes time to hire and train people when the banks are handling a huge
increase in delinquent loans. Besides, there is little accountability.
Do you think a Fannie Mae Bureaucrat cares if a foreclosed home isn't put on
the market right away? It's all play money when it's not your money.
Another factor in this is that most loans are not owned by the banks in
question. For example, Bank of America only owns 80% of the mortgages they
receive payments for.
It's not Bank of America's loss. It's Fannie Mae's loss, Freddie Mac's Loss, or
a Pension Fund's Loss. The banks and loan owners have been willing to take huge
losses on short sale homes we have sold.
Sure, the short sale process was slow. But, how fast or slow it was didn't
depend on the size of the loss. We have experienced very fast short sales on
huge losses.
We have also experienced very slow short sales on small losses. The short sale
process takes a while whether or not the loss is big or small. Thinking about a
short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.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 614-741-2495
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking here.
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click here http://columbusshortsalerealtor.com to request a copy.
Thanks for reading this, Rick and Robin Lemmons.
Rick and Robin is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495 or send an email to robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com
Rick & Robin Lemmons specialize in helping Columbus Homeowners short sale
and never pay the bank another penny. Columbus Loan Modification Help, Columbus
Short Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus
OH Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.
Rick and Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Rick and Robin's personal views and do not reflect
the views of Coldwell Banker King Thompson.
This information on Columbus Short Sale Myth: Banks Aren't Approving Short
Sales Because They Don't Want To Take Big Losses is provided as a courtesy to
our viewers to help them make informed decisions.
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