Columbus OH – The Stop Foreclosure Institute is
closing another short sale tomorrow. The sellers had a job transfer out of
state.
They were short selling an FHA loan with a second mortgage. The short sale was
fairly simple because FHA's short sale guidelines.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Here was how these sellers benefited from the short sale.
Benefit #1: The sellers were able to walk away with the debt
wiped out completely. The FHA short sale guidelines released
them from the first mortgage debt.
The second mortgage also gave them a complete release. At first they weren't
willing to do that. But, we offered them a little extra money in return for a
complete release.
Fortunately they agreed to it. This meant that the sellers were able to
completely wipe out a total of $80,000 in upside down debt.
Benefit #2: Limited Tax Consequences. These
sellers will only owe taxes on approximately $30,000 of the loss. Why? Because
that was around how much money was borrowed on a home equity line.
The Mortgage Debt Relief Act of 2007 states that you will not owe taxes on a
loss if you used that money to purchase or remodel your home.
However, if you borrowed and used the money for something else, then you would
owe taxes on the loss. You would owe the money whether you short sold, or the
lender foreclosed.
This is only my opinion after reading the law. I recommend that you talk to a
competent tax professional before making any financial decision.
Benefit #3: The will be eligible to buy another home in 2 years. Current Fannie Mae Rules allow homeowners to buy another home 2
years after a short sale. Compare that with the 5-7 year wait after a
foreclosure.
Benefit #4: The sellers paid no money for the short sale. Everything was paid for by the lender. The short sale lender
paid the real estate agent, title company, and all the other fees.
They can look forward to getting their financial life back on track.
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: Another Success Story is provided as
a courtesy to our viewers to help them make informed decisions.
Columbus OH – Wall Street Fat Cats say
homeowners shouldn't walk away from upside down homes. Why? "If you do it,
then everyone will start doing it", they say. "It isn't moral. People
should own up to their commitments.
People should be responsible. This is more than just a contract. It's what
holds the entire economy together." However, those same rules don't seem
to apply to them.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Turns out Wall Street firm Morgan Stanley strategically defaulted
on their upside down properties. From the article in Bloomberg: Morgan
Stanley to Give Up 5 San Francisco Towers Bought at Peak.
Here is what the article says: "Morgan Stanley, the securities
firm that spent more than $8 billion on commercial property in 2007, plans to
relinquish five San Francisco office buildings to its lender two years after
purchasing them from Blackstone Group LP near the top of the market.
The bank has been negotiating an “orderly transfer” of the towers
since earlier this year, Alyson Barnes, a Morgan Stanley spokeswoman, said
yesterday in a telephone interview. AREA Property Partners will take over the
buildings. Barnes declined to say when the transfer will occur.
“This isn’t a default or foreclosure situation,” Barnes said. “We are
going to give them the properties to get out of the loan obligation.
The Morgan Stanley buildings may have lost as much as 50 percent
since the purchase, he estimated.
Morgan Stanley bought 10 San Francisco buildings in the city’s
financial district as part of a $2.5 billion purchase from Blackstone Group in
May 2007. The buildings were formerly owned by billionaire investor Sam Zell’s
Equity Office Properties and acquired by Blackstone in its $39 billion buyout
of the real estate firm earlier that year.
Morgan Stanley, based in New York, was the biggest property investor
among Wall Street firms at the time of the purchase. The transaction made the
company one of the largest office landlords in San Francisco, with the purchase
giving the bank 3.9 million square feet of office space there.”
Pretty interesting. If an ordinary guy walks away from his upside
down home, then that makes him a immoral deadbeat. "He's
working the system", the Wall Street people say.
But, to them it's a moral business decision. "We're doing what's best for
our stockholders", they say. "That's our obligation and duty."
Here is my question. Doesn't a parent have an obligation to do what is best for
the stockholders in their family? Let's say that they can save hundreds of
thousands of dollars in mortgage payments.
As a result, little Timmy will be able to attend college when he grows up.
Isn't it their moral obligation to do what is best for the stockholders in the
family?
Please let me know what you think. Put your
comments agreeing or disagreeing below.
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 Sale News: Wall Street Firms Strategically
Walking Away From Their Upside Down Properties is provided as a courtesy to our
viewers to help them make informed decisions.
Columbus OH – I recently talked to a homeowner
in foreclosure. She had heard of the short sale option. But, someone had told
her that short sales are tough.
They told her, "Banks never accept short sale offers. You are wasting your
time if you try one." As a result, she never researched her options and
lost her home to foreclosure.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Many agents close short sales day in and day out.
Short Sales are a specialized endeavor. They are much more complicated than
your average real estate transaction.
The closest comparison I can think of is learning to ride a bike. Remember the
first time you tried to ride a bike and you crashed and fell off?
You felt like you would never be able to ride a bike. Maybe you told your
mother, "I'm just not as smart as Timmy. He knows how to ride a
bike." But, then you try it again.
This time you make it a few feet before crashing. By the end of the day you are
riding your bike around. Turns out Timmy wasn't so smart after all. Short sales
are like that.
The first one is very frustrating. You find yourself saying, "I just don't
know what these banks want. This is crazy." But, the next few are a lot
easier. Soon you understand the process.
And you realize that short sales are just like anything else in
life. Once you figure out how the system works, then it becomes easy.
You learn what words like BPO, FHA, VA, Fannie Mae, Freddie Mac, deficiency,
servicer, sliced and diced, and delegated mean. Soon you are negotiating short
sales with confidence.
Are you are looking to short sell your house? Experience and persistence are
the keys to short sale success. Experience because you have learned what to do.
Persistence to keep on going when others would quit. Not all short sale offers
get approved the first time. After that first offer gets turned down, you now
know what the lender wants.
This makes it easy to get the next short sale offer accepted. 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 A Common Columbus Short Sale Misconception: I've Heard Banks
Won't Do Short Sales. Is That True? is provided as a courtesy to our viewers to
help them make informed decisions.
Columbus OH – I read in the newspaper that a
short sale will destroy the seller's credit. The article made it sound as
though a short sale equaled doom for your credit.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
I wanted to clarify exactly how a short sale does affect your credit. Does a
short sale damage your credit? Yes. Consider if the benefits from a short sale
outweigh the credit damage.
If you are in foreclosure, your credit has already been damaged. What happens
if you do nothing and allow your lender to foreclose? The credit damage will be
much worse than a short sale.
In addition you will not be eligible to buy another house for 5-7 years. With a
short sale you are eligible for another mortgage in 2 years.
You will have to disclose the foreclosure on any future credit application.
When you apply for any loan they will ask if you have had a foreclosure. They
do not ask about a short sale.
Are you considering a short sale for a reason other than foreclosure? Maybe a
job transfer or relocation? A short sale may still be worth it, especially if
you can't sell the property for enough to pay off the mortgage.
If you stay current on all your other debts, such as utility payments and
credit cards, then the credit damage will be minimal. Upon completion of the
short sale, your credit score will drop between 50 and 100 points.
However it will rebound fairly quickly. The other benefit is that you will have
less debt. (A lot of debt hurts your credit score.) You will have a lower debt
to income ratio, which will boost your credit.
In a couple of years your credit will be back to normal and you can buy another
home. Most people are able to rent another home for less than their mortgage payment.
In one example, a homeowner in foreclosure found a larger home with a large,
fenced backyard for their kid and a garage. Their prior mortgage payment was
$1,500.
They rented the nicer, bigger house for $850 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 Columbus Short Sales Aren't The Credit Disaster Many
Portray Them To Be is provided as a courtesy to our viewers to help them make
informed decisions.
Columbus OH – The Stop Foreclosure Institute
recently received a question from Werner. “I am behind on my payments and
thinking of just letting my home go into foreclosure. What does that do to the
neighborhood?” he asked.
Here is our answer to his question. It does hurt
the neighborhood. But, it also hurts you.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Most banks do not do a good job and processing and handling
foreclosures. They take 12-18 months to foreclosure on a house
and then sell it.
In the meantime they do little to maintain the home. I estimate that half of
all the properties I have seen in foreclosure have never even been checked on
by the lender.
It has gotten so bad that one homeowner even started up a website
to report on these banks. The website is called Lender Offender.
Check it out here: www.LenderOffender.com.
In my opinion these banks are not being responsible with these properties. The biggest problem is that Uncle Sam usually takes the fall for
any loss.
Uncle Sam does this by guaranteeing them against loss on many mortgages. Or in
other cases, Uncle Sam has already bought the defaulted loan from the bank.
The homes eventually sell for a discount after the foreclosure. No home buyer
is going to pay market value for a home that needs repairs!
This gives the banks little incentive to check on these properties. Fortunately
you can help. Stay in your home until it sells. Keep it looking good and
everything in good order.
Then, put it up for sale as a short sale. That will help protect the property
values in your neighborhood. 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 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 How A Columbus Short Sale Can Help You And Your Neighbors
Avoid The Side Effects Of A Foreclosure is provided as a courtesy to our
viewers to help them make informed decisions.
