Columbus OH – It's sad that the banks aren't
willing to give anyone a principal reduction. The banks reasoning is that if
they start granting principal reductions, then every single upside down
homeowner will want one.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
As a result people are stuck overpaying for their upside down homes. Take an
example of a family who bought their home at the peak of the market. Their
monthly payment was $1,400.
Their lender agreed to forgive their missed back payments. But, they wouldn't
reduce their monthly payment. So, this family started looking at other options.
They had recently had their first kid and wanted to move out of their
townhouse. They wanted a house with a yard. They found a bigger home with a
large yard for their daughter.
The new home even had a 2 car garage that their townhouse didn't. They liked the
new home. But, they liked the payment even better. The rent payment was $850 a
month.
That's a 39% reduction in their monthly payment. Even worse, it would have
taken 25 years for their house to be worth what they had paid for it.
Let's say that they had had accepted their lender's offer and agreed to pay
$1,400 a month. According to my calculations, they would have paid their lender
$165,000 extra above what they pay for rent.
Ouch! That is a good example of why loan modifications don't help anyone but
the banks. 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 2012 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 Why Columbus Loan Modifications Are Bad: Family Rents
Bigger House For $550 Less Than Old Home is provided as a courtesy to our
viewers to help them make informed decisions.
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