Columbus OH – The Stop Foreclosure Institute
recently received a question from Jennifer. She is having a hard time selling
her home.
“I have had my house for sale for a little while, but it hasn’t sold. No buyers
have come to look at it. At first I thought the price was fair.
But, now that no one has come to see the home, I am beginning to realize that I
am upside down. My realtor hasn’t talked to me about a short sale. What should
I do?” Jennifer asked.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Here is what we recommended to her. First, talk to
your current agent about a short sale. They might be uncomfortable with bringing
it up.
Short sales are a sensitive issue. Some people get offended when you ask them
about a short sale. It doesn’t look like that is the case with you.
Tell your agent that you think you might be upside down. Ask them what they
think they can realistically sell the house for in today’s market.
Then, ask them for a “Net Sheet.” This is a sheet that details all of the costs
and fees associated with selling a home.
The fees and costs are subtracted from the sales price to give you the net
amount you will receive from the sale. Compare that number with your mortgage
payoff.
If it is less than what you owe your lender, then you will need to consider a
short sale. Ask your agent if they can handle your short sale.
If not, then you may need to hire someone else. Short sales are a lot more
complex than a normal real estate transaction.
Make sure the person you interview has closed short sales in the past and knows
what they are doing.
Ask them how the short sale process works. Have them explain it to you. This
will help you determine if that person can do the job for you. 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: 614-741-249
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 Why Won't My Realtor Discuss A Columbus Short Sale? 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 Katie. “My spouse and I are getting a
divorce. Unfortunately neither of us can afford the house on our own.
So, we have to get rid of it one way or another. The big problem is that the
house has dropped in value since we bought it. I think it is worth around
$400,000 and we owe about $600,000.
I am curious about what options we have. What do you think we should do?
Katie."
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Here was our recommendation. In this case I would recommend you sell the house. Here are three options that you have.
Option #1: Let your lender foreclose
on the home. You just stop making the payments and surrender the
home to your lender.
Option #2: Rent the property. This is a good way
to earn some extra money.
However, if you are upside down, then it is more than likely that the rent will
not cover the mortgage. That means someone will have to write a check each
month covering the loss.
Option #3: Short Sale the house and get the debt wiped out. A short sale offers the following benefits over a foreclosure.
You are eligible for another loan within 3 years after a short sale and
sometimes even sooner than that. However, if your lender forecloses on the
home, then current Fannie Mae Guidelines require you to wait 5-7 years before
you can buy another home with a Fannie Mae Loan.
Most other banks and lenders have the same or even stricter guidelines. Any
future loan application will require you to answer the question, "Have you
had a property foreclosed upon or given title or deed in lieu thereof in the
last 7 years?"
If your lender forecloses on your home, then an you'll have to answer
"yes" to that question. If you short sell the house, then you can
state “No” because you short sold your home.
With a foreclosure your score is typically lowered by 250 to 300 points, or
even more. This often stays on your credit score for over 3 years.
If you short sell your home, then only late payments show up on your credit.
After a short sale, the mortgage is normally reported as "paid in full,
settled."
This lowers your score as little as 50 points if all other payments are being
made. Oftentimes, this is off your credit report in as little as 12
months.
If your
lender forecloses on your home, you may end up having to repay them for the
money they lost. A foreclosure can take 12-18
months to process.
This dramatically increases the loss and makes any deficiency judgment
potentially bigger. Contrast this with a short sale.
Few lenders ask for a promissory note on a short sale. As an example, on one
short sale, the bank lost over $120,000. They settled with the seller for
$25,000 to be repaid over 15 years with zero interest.
The seller's monthly payment was only $138.89. You can often even negotiate and
have the promissory note waived. Most lenders also have a policy that the
upside down debt is erased on a short sale.
It doesn't happen every time. So check your options before you start the
process. 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 Question: Getting divorced. Can't
Afford Home. What Should I Do? is provided as a courtesy to our viewers to help
them make informed decisions.
Columbus OH – Maybe this is a pet peeve of mine.
Or maybe it just seems ridiculous that someone would call a debtor over and
over again asking to be paid, when they have already been told the debtor
doesn't have the money to pay them.
Or maybe it is the fact that I see countless examples of debt
collectors breaking the Fair Debt Collection Practices Act. But,
no one seems to care that they are breaking the law.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
The Fair Debt Collection Practices Act forbids collectors from threatening to
sue you, but then not following thru and actually filing suit. To get around
this rule, they will use language that sounds legal, but isn't.
In one situation, a debt collection firm in Buffalo, New York named their firm
Hoffman, Weinberg & O'Brien to make it sound like they were a law firm.
They would then leave messages on people's answering machines. They would say
they were with the office of Hoffman, Weinberg & O'Brien and then say
they may resort to future legal action.
Or they would say they were calling about a pre-legal matter. In addition, they
would reference case number 8306042. If you didn't know any better, you would
think the case number was for an actual lawsuit against you. Scary, right?
In addition, if a debtor tells them not to call anymore, then
they are supposed to stop calling. They just keep on calling
anyways. This is another example of them not obeying the law per the Fair Debt
Collection Practices Act.
I allege that they willingly and knowingly break the law repeatedly. This is
why we put Number Seven onto the Homeowner's Bill of Rights:
7. Stop the Debt Collector Harassment! The right
to tell any and all debt collectors to stop calling and never receive a phone
call from then again.
In addition, this would include debt collectors that know the person's phone
number, but will call family members in an attempt to embarrass the debtor.
This is America people! Debtor's prison was abolished two centuries ago! It's
time to update your activities to the Twenty-First Century!
Or take another example. A homeowner has never
made a late payment in their entire life. They lose their job and find one in
another state.
They move, try to rent out their house, but can't afford the payments. They get
behind on their mortgage payment and credit cards. They enter the world of
non-stop harassment.
Debt collectors call them non-stop. These people aren't deadbeats. They are
just struggling at the moment. They won't stop calling even when the debtor
asks them to stop.
They would pay if they had the money. But they don't have it. But, the people
won't stop calling. The constant phone calls make their home life miserable. Don't you think it has gone too far?
I do. That's why we need a Homeowner's Bill Of Rights. Stop the debt collector
harassment. What do you think? Please put your comments 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 Sales: Bankers, Please Stop Harassing
Americans For Money They Don't Have is provided as a courtesy to our viewers to
help them make informed decisions.
Columbus OH – If homeowner's have a bill of
rights, then bankers must have one as well. We decided to put together the
Banker's Bill of Rights. That way they wouldn't feel left out.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
The Banker's Bill of Rights.
1. All Bankers have the Right to make any mistake they want and
still get bailed out by the American Taxpayer. They can fiddle around
with complex derivatives with no risk to themselves or the bank they run.
When they run their bank into the ground, they get the full assistance of the
American Taxpayer to bail them out of their mess.
2. All Bankers have the right to say "sic' em" to their
debt collection phone call team. Every American that doesn't pay
on time will be called non-stop until that pay up.
They have the right to call the debtor at 8:55 on a weeknight, at 8AM on the
weekend, and even at their workplace. Maybe the Bankers can embarrass the
employee or cause their boss to fire them.
3. All Bankers have the right to make the loan modification as
confusing and frustrating a possible.
This includes the right to change policies at anytime, continue the foreclosure
process in order to force the homeowner to accept a payment they can't afford,
and not respond to phone calls or e-mails for weeks at a time.
4. Every American either pays their mortgage on time, or they are
sent to a forced labor camp to work until they have paid
everything back in addition to delinquent interest.
If you get behind and we lose money on your house, then go to a work camp to
"work off" what you owe us at minimum wage.
In addition, if any homeowner dare not pay on time, then a late penalty shall
be charged at 10% per day.
5. All Bankers have the right to hide all the rules for a short
sale or loan modification. We will enter a new age of holding the
homeowner in the dark.
Transparency, accountability, and openness will be gone. Fortunately, the
bankers haven't been able to get their bill of rights approved by congress.
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: The Banker's Bill of Rights is
provided as a courtesy to our viewers to help them make informed decisions.
