Columbus OH – The National Consumer Law Center
wrote a White Paper on how banks handle loan modifications, short sales and
foreclosures.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
They titled their White Paper "Why Servicers Foreclose When They Should
Modify and Other Puzzles of Servicer Behavior." Check out the White Paper
at this link: http://www.nclc.org/images/pdf/pr-reports/report-servicers-modify.pdf.
The "servicer" they are referring to is a bank that is handling a
mortgage for another entity.
As an example, around 80% of all of Bank of America's mortgages are not owned
by Bank of America. Instead, they are owned by another entity like Fannie Mae
or a hedge fund.
Bank of America is simply handling the accounting, tax filings, and the
foreclosure and collections process. The Consumer Law Center thought it was
"puzzling" that servicers preferred foreclosure over loan
modification.
The reason that the servicers prefer it is because it is less work and they
make more money in the process. But, I don't think it is puzzling. Why not?
Because there is almost zero accountability! The owners of these mortgages
never check in on the process. They don't know that a servicer denied a short
sale offer for $385,000, only to see the property sell for $230,000 as a
foreclosure.
Because they are not checking on things Uncle Sam and the owners of these loans
are seeing huge, unnecessary losses. Pretty sad, isn't it? 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. http://columbusohshortsaleadvisors.com/
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 to request a copy. http://columbusohshortsaleadvisors.com/
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.
Email: 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.
Important
Notice
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 Sales: Why The Lack of Accountability Has
Hurt The Housing Market & US Economy is provided as a courtesy to our
viewers to help them make informed decisions.
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