Columbus OH – Here are a few things you should
not be surprised to see crop up during the short sale process.
Unscruplous Debt Collection Tactics. If you are
facing financial hardship, then paying credit cards and other unsecured debts
is your lowest priority. An unsecured debt is a debt where they
can’t take away your car or house. A secured debt has something
as collateral, such as your car, house, or anything else of value.
The most common unsecured debt is a credit card. When you stop paying them,
they will call you nonstop. The reason is because they don’t have any other way
to collect from you.
They can’t come get your car or take your house. So, they make up for that by
blowing up your phone with harassing calls. In addition, they use deceptive
tricks to get you to pay them.
For example, there are Federal Laws that regulate what they can do or say. They
aren’t allowed to threaten to sue you, but then not follow thru and actually
file suit.
To get around this rule, they will use language that sounds legal, but isn’t.
In one situation, a debt collector 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. 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. That is scary. Don’t you agree?
Most credit card accounts never sue (despite the constant threats.) Even when
they do sue and get a judgment, they rarely ever attempt to garnish wages.
A lot of judgments expire without getting paid. But, a lot of them get paid off
when a person’s income increases, or that person sells a valuable asset such as
a house.
It might seem like the process takes a long time. Some short sales only take a few months. Before you know it you
are moving out of your house and onto the next place.
However, some short sales will take a lot longer. We have some files that we
have been working on for a year or even longer.
It’s not the end of the world. Just stay put and keep on saving the money you
would be using for rent. In most cases the short sale will eventually be
approved and you can move on with your life.
Your lender may attempt to collect money from you when they
aren’t legally entitled to do so. We have heard several stories
of some lenders asking for a promissory note when the state the property was in
did not allow the lender to pursue the homeowner after a short sale.
The stories in question were for short sales of properties in California and
Washington. Don’t sign a promissory note a lender sends you after a short sale
when you are in a non-recourse state.
Talk to a lawyer to see if you are obligated to repay the debt. You could
probably get out of repaying it if you tried. 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.
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.
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 What you can expect during and after the Columbus Short
Sale Process is provided as a courtesy to our viewers to help them make
informed decisions.
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