Columbus OH – If you are upside down, then you
might be tempted to walk away. You'll mail your keys to the lender and move
out.
Before you move out, I have some important information to tell you. You should
stay in the house for as long as possible.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
In fact, the average length of time you can live for free is 461 days. That
number is a statistic I've seen lots of people throw around.
I just tried to Google the official source, but it isn't coming up in several
searches. I do know that number is true, based on all of the foreclosures I've
seen recently.
Many lenders take around 12 months to file foreclosure. Then, the foreclosure
process can last 6-12 months, if not longer.
Here is the bottom line: Don't move out as soon as you get
behind. Stay in the house and save the money you would be
spending on rent.
After the lender forecloses you will have to worry about them pursuing you for
the money they lost. So, you've decided to walk away, but you want to reduce
the side effects?
You can avoid a lot of the bad side effects with a short sale. First off, on
80-90% of all short sales, you won't have to pay any money back.
Second, you will be eligible to buy another house in 2-3 years (You have to
wait 5-7 years after a foreclosure.) Third, a short sale costs you nothing.
When the home sells, your lender pays us a commission. The lenders know they
get more money from a short sale than a foreclosure.
This is why most lenders are willing to pay all the other costs associated with
the sale. 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, Robin Lemmons.
Rick & Robin Lemmons 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.
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 & 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 Robbin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on Strategic Default Or Columbus Short Sale. Which Is Better
For You? is provided as a courtesy to our viewers to help them make informed
decisions.
Columbus OH – Is your loan with a large lender
such as Wells Fargo or Bank of America? They usually don't make the final
decision on your short sale. Here is why.
In most cases, the lenders are working as a servicer. They are handling the
loan for a third party (the actual owner of the loan.)
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
This third party owner can be a corporation, a pension fund, a wall street
firm, or split up between thousands of different people.
Or the owner can be a government entity such as Fannie Mae, or Freddie Mac.
This means you still have options if your lender rejects your short sale.
Find out who the owner of the loan is and contact them directly. They will
often reconsider the short sale. Simply present your case. Tell them exactly
why they should accept the short sale offer.
I have found that the investor usually does a better job reviewing the new
offer. If they decide a mistake was made they will approve the short sale
offer. I have especially found this strategy helpful when the lender is asking
for a promissory note or deficiency judgment.
Many times the negotiator at the servicer will reject a short sale for no
reason. Or, they will make unreasonable demands, such as a higher sales price
or a cash contribution from the seller.
Why do they do that? They may get paid bonuses for it. Or, they feel like they
need to compete with a co-worker.
A co-worker might tell them, "I just got a $20,000 cash contribution from
this short sale seller. The guy didn't even realize that I am only required to
get $5,000."
Because of this, the negotiators at the larger servicers turn down short sales
they should approve. Later on the properties sell for substantially less as a
bank owned property.
We've seen many short sales get rejected. They almost always sell for less
money. The losses range from $12,000 to hundreds of thousands of dollars.
I know this may surprise you. But, it happens all the time. If you feel like
your short sale is getting turned down for no reason, then contact the owner of
the loan directly.
They may decide to approve the offer. 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, Robin Lemmons.
Rick & Robin Lemmons 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.
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 & 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 Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on Who Actually Makes The Decision On Approving Or Denying A
Columbus Short Sale? is provided as a courtesy to our viewers to help them make
informed decisions.
Columbus OH – If you are in financial trouble,
then I'm sure you're worried. Here are a few things I see people worry about
that aren't as bad as they think.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Financial Worry #1: We could be forced to move out of our house
at moment's notice. If you own your house, then I have some good
news.
Most lenders are taking 6-12 months to file foreclosure. The debt collectors
don't always tell you the truth. Many get paid bonuses based on how much they
collect. That encourages them to stretch the truth.
They might tell you the foreclosure is going to be filed next month. Yes, even if
it's not true. Here is the other good news. It can take months for a
foreclosure to go thru.
The court system is bogged down. Judges are busy. The foreclosure lawyers are
busy. This means it takes a long time for a lender to complete a foreclosure.
Financial Worry #2: I owe someone money. They could get a
judgment against me and take away everything. Yes, they might
very well be able to get a judgment against you.
However, many judges are dismissing these cases. You can't squeeze water out of
a stone. You can't squeeze money from someone who doesn't have it.
Even if someone gets a judgment, they still have to collect it. Collecting on
judgments is hard. That is why around 80% of all judgments are never paid off.
Even if they garnish your wages, many states have exemptions. You can contest
the garnishment. You can file that you have children or a family to take care
of.
Or, you have absolutely necessary bills (such as a car payment for a car to
drive to work). You then show you aren't making enough money to pay the
garnishment. The judge will often cancel the garnishment.
Financial Worry #3: A debt collector will take my dog, car, or
garnish my wages. I remember hearing a caller on a national talk
show. A debt collector had threatened to take away her dog.
She was scared they were going to. Here is the problem. Debt collection
employees will use all kinds of threats. The problem is there are federal laws
in place to protect the public.
These laws are called the Fair Debt Collection Practices Act. Threatening to
take someone's dog is illegal. 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, Robin Lemmons.
Rick & Robin Lemmons 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.
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 & 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 Robbin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on Columbus Short Sales: Don't Stress Out Over Financial
Problems is provided as a courtesy to our viewers to help them make informed
decisions.
Columbus OH – There are many benefits of a short
sale. Many people don't see the benefit. They don't do anything to avoid
foreclosure and let their bank foreclose.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Benefits of a Short Sale:
1. A short sale often allows the seller to walk away owing
nothing. You are often able to negotiate away all the debt.
Banks know they will net more money with a short sale versus foreclosure.
In fact, a recent study showed banks would net 20% more money with a short sale
versus foreclosure. Because of this, most short sale banks completely forgive
the debt.
Yes, they might be losing $100,000, or more. However, they would rather cut
their losses and let you go free.
2. Short Sale Sellers are eligible to buy another home much
faster. For example, Fannie Mae recently released a guideline
for sellers who short sale.
If you short sale, then you are eligible to buy another home two years after
the short sale.
3. A Short Sale preserves your dignity. You won't
have a "Notice of Foreclosure Sale" posted on your door while you
still live in the neighborhood.
4. A Short Sale does less damage to your credit.
Your credit score typically drops by 250 to 300 points on a foreclosure. With a
short sale, your credit may only drop by 50 points, provided you are current on
all your obligations.
Cons of a Short Sale:
1. There is no guarantee your bank will accept the short sale offer. However,
banks are working very hard to improve their processes. They want the short
sale process to become easier to work with.
2. The bank will want to see all documentation on your income and assets.
3. Short Sales do not always go fast. They can drag on for 3-6 months. However,
you can still live in the home for free during that time.
A short sale is a good option for most homeowners. It allows you to get rid of
the debt and move on with your life. Many people rent another home for less
than their mortgage payment.
In one example, a homeowner in foreclosure found a larger home with a garage.
It even had a fenced backyard for their kid. Their mortgage payment was around
$1,500.
They rented the nicer, bigger house for $850 a month and saved $650 a month.
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, Robin Lemmons.
Rick & Robin Lemmons 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.
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 & 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 Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on The Pros And Cons Of A Columbus Short Sale is provided as a
courtesy to our viewers to help them make informed decisions.
Columbus OH – "I can't process this short
sale without the TPS form filled out with the seller's full name", the
short sale negotiator told him.
"But, based on my calculations, this short sale will help your company
avoid a $17,000 loss", the agent replied.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
The agent continued, "So, you're telling me that unless I
can get you the TPS form filled out, then you will reject this short sale and
subject your company to a potential $17,000 loss?"
"Yes, you are right", the short sale negotiator replied.
The agent responded, "But $17,000 is a lot of money. Don't you
agree?"
"I don't care about the money. The TPS form is company procedure",
said the short sale negotiator.
The story above illustrates just how crazy short sale lender bureaucracy is
today. The guy who told me that story couldn't remember the form name.
He said it was about as dumb as the infamous "TPS Reports" from the
movie Office Space. Many banks turn down short sales over
a technicality, only to lose more money thru a foreclosure.
As an example, the house in question sold for $117,000 about 12 months ago.
Today, comparable homes are selling for $90,000 (not a typo).
In that 12 months, the home's value dropped by $27,000. The bank's foreclosure
process was on track to foreclose on the house in 6 months. It would have taken
another 3-6 months to sell the foreclosed house.
That means the value would have dropped by a minimum of three quarters of
$27,000. That means the lender would have lost $20,000 because they turned down
the short sale offer.
Here is what was wrong with the TPS form. One form had "John Arthur"
entered for the seller's name. The short sale negotiator was going to reject
the short sale unless his name was changed to "John W. Arthur II."
Everyone else was ok with the existing paperwork. The title company, the
buyer's mortgage company, and everyone else involved.
The bottom line: A large, nationally know lender was willing to
risk losing $17,000 because they needed a document to be
perfect. Nobody ever asked the stockholders for their opinion.
Hmm. Stockholders actually want to make a profit?!! Who would have thought of
that?!!
That's what short sale bureaucracy does. It hurts
the stockholders that own these banks. It hurts the housing market. And it
hurts the economy.
It is also why you need an experienced, competent short sale agent. You need
someone who knows how to work with the bureaucracy and get things done.
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, Robin Lemmons.
Rick & Robin Lemmons 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.
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 & 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 Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on Columbus Short Sales: Don't Risk Having Your Short Sale
Rejected Because Of Bureaucracy is provided as a courtesy to our viewers to
help them make informed decisions.
