Columbus Short Sale Myth: There Are No Rules Or Guidelines For Short Sales

Columbus OH – I recently saw an article written by a prominent, so called short sale expert. In the article, this supposed expert says the only rules for short sales are HAFA, but even those rules are subject to interpretation.

That is like saying that there are no traffic laws. If that were the case, then everyone could drive 100 MPH and never get a ticket.

That is like saying that the court system has no rules. (Go ask a judge or lawyer and you’ll find out the truth about that pretty fast.)

The good news for short sale sellers is that there are rules. There are lots of rules in fact. These rules protect you from renegade, rogue employees at short sale lenders. They also protect you from the lenders.

Here is a small sampling of the rules and guidelines for short sales. 

FHA Short Sales. There is a 16 page directive from HUD to lenders. This directive gives explicit instructions to all lenders on how to handle short sales on FHA loans.

You can read thru the rules for an FHA Short Sale yourself. Just Google “Mortgagee Letter 2008-43.”

VA Short Sales. VA gives explicit instructions (again in their short sale guidelines). Only, they don’t call it a short sale. They call it a VA Compromise Sale.

Call a VA Loan Center to get a copy of the Compromise Sale Guidelines. Between 65-70% of all the loans in the US are owned or insured by one of the following entities: FHA, VA, Fannie Mae, or Freddie Mac.

Those entities either own or insure against loss. That also means those entities have the right to dictate what can and cannot be done on a short sale.

The lender handling the negotiations has to follow their guidelines or face stiff penalties. Fannie May and Freddie Mac do not publish their guidelines to the general public. But, we do know they have them.

The lenders have sent Stop Foreclosure Institute Members copies of their guidelines before. The member was disputing something on a short sale. They couldn’t believe a certain rule.

The lender’s negotiator sent them the guidelines for the thing they were disputing. The bottom line is that most (if not all) short sale sales do have rules.

However, the lenders don’t want you to know that.

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 Columbus Short Sale Myth: There Are No Rules Or Guidelines For Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

Columbus Short Sales: More Reasons Why Short Sales Fail

Columbus OH – We recently gave a couple of common reasons that short sales fail. Today, we will go thru a few more reasons.
(To recap, here were the reasons we put in our previous blog post. Reason #1: The sales price is lower than the lender wants. The lender thinks the home is worth more than it is selling for and won’t approve the short sale unless the price is for the value they have. 
Reason #2: The tenant doesn’t allow the home to be showed. Many tenants do not want the home to be shown to buyers because they will have to move before it sells.)

Reason #3: Your realtor never followed up with the lender.  Short sale negotiators are not in a rush. They don’t get paid by the file.
They also make the rules. They will issue ultimatums. “Get me this document by Tuesday. If you don’t, then I will cancel the short sale process.”
Restarting the short sale process will set you back 30-60 days. If your agent doesn’t follow up on the process regularly and quickly respond to requests, then your short sale may be canceled.
Reason #4: Your realtor didn’t keep their paperwork organized. Lenders want correct paperwork that is properly filled out. They want everything organized.
Most short sale departments are a bureaucracy. They have checklists to fill out, forms to check, and other things to check.
If your agent is not organized, then they won’t be able to give them the correct paperwork. They might lose paperwork and have to hunt down replacements.
This takes time and slows down the process. So, be sure you hire an organized, competent agent to help you with your short 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.
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 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 Yes, a Columbus Short Sales: More Reasons Why Short Sales Fail is provided as a courtesy to our viewers to help them make informed decisions.

Columbus Short Sale Myth: Anyone Can Negotiate With The Lender

Columbus OH – Yes, many people think they can negotiate with the lender. But, some of them don’t have the skills necessary to be successful.

Here are a few of the things someone needs ti know before they can negotiate a short sale.

They must have the ability to understand HUD-1 Closing Statements.  The lenders will want a copy of the closing statement, also call a HUD-1.

Most people in the lender’s short sale departments are very familiar with HUD-1s. The person negotiating with you will need to answer any questions they have about the HUD and know how to make changes to it.

They must know the short sale seller’s rights.  Most short sale transactions fall under certain guidelines. The lenders don’t always like to follow those guidelines.

They might ask the seller to accept a promissory note when the guidelines don’t require that. You could be stuck repaying thousands of dollars unnecessarily.

Make sure the person negotiating on your behalf has a complete understanding of your rights.
 
They must know how short sale negotiators think. Short sale negotiators don’t just approve every short sale.

There is a process they must follow before approving or rejecting a short sale offer. If the person doesn’t understand then they won’t be able to work your file thru the process to receive an approval.

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 Columbus Short Sale Myth: Anyone Can Negotiate With The Lender is provided as a courtesy to our viewers to help them make informed decisions.

Columbus Short Sale Question: Can I Short Sale If My House Is Already In Foreclosure?

Columbus OH – The Stop Foreclosure Institute recently received a question from Dave. Here was his question.
“I would like to short sale my house. However, the foreclosure has already started. I don’t know how soon the bank is going to come and kick me out.
Can I still short sale? Or, is it to late? Dave.”

Here is the answer to his Question.  Dave, yes you can still short sale your house. It does depend on how far along you are in the foreclosure process.
You have to remember that the foreclosure process can take a long time. We have seen foreclosure court cases drag out for 2-3 years.
In one rare case Patsi Campbell, a homeowner in Florida, had a foreclosure drag out for 25 years. However, that is a fluke.
The Wall Street Journal gives us a better perspective:
“Ms. Campbell’s foreclosure case has outlasted two marriages, three recessions and four presidents. She has seen seven great-grandchildren born, plum real-estate markets come and go and the ownership of her mortgage change six times.”
The good news is that you can short sale your house, even if the foreclosure has already started. An experienced short sale agent can tell you for certain if you have enough time or not.
You may have more time than you think. Average foreclosure timeline has double and tripled. The foreclosure court system is overloaded and can’t handle the avalanche of files coming their way.
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 Columbus Short Sale Question: Can I Short Sale If My House Is Already In Foreclosure? is provided as a courtesy to our viewers to help them make informed decisions.

Columbus Short Sales: What makes a good short sale realtor?

Columbus OH – A good short sale realtor will mean the difference between success and failure on your short sale.
Here are the qualities that make a good, effective short sale realtor. 

Persistence. Short sales are frustrating. Many times you will feel like giving up. Many times you will feel like you have finished the task. The short sale will be approved.
Then, the lender tells you that they need a certain document signed by all parties. They won’t approve the short sale until they have that document. You have to send the document and have it signed by everyone.
Some people will be busy and won’t respond. You will have to persist until they sign it and send it back. You never know what documents lenders will throw in at the last minute.
They are always changing policies and procedures and requiring more documents.
Has good organizational skills.  Most banks' short sale departments are bureaucracies. The people working there are not sales people. They are not creative.
They don’t care if a short sale should be approved or not. They only care if their checklist says it should be approved. There is no goal in the process, except making sure the rules are followed properly.
(I think the goal of a short sale should be to reduce the bank’s losses. But, that isn’t the lender’s employee’s goal. They just care about perfect paperwork. Maybe that is why I find the bureaucratic nonsense so frustrating.)
The bottom line is that an organized agent will be able to make sure those rules are followed. They will have everything in order so that the lender’s requests can be met and the short sale approved.
An organized agent will find the time everyday to check on their short sale files and keep the process moving. A disorganized agent will put your file to the side for a week or more.
This will cause delays and could even cause your lender to cancel the short sale process because their requests aren’t being met.
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 endorse 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: What makes a good short sale realtor? is provided as a courtesy to our viewers to help them make informed decisions.

Columbus Short Sales: Why Is This Lender Lying To This Homeowner?

Columbus OH – The Stop Foreclosure Institute recently received a question from David. Here was his question.
“My lender verbally told me that my short sale was approved. However, now they are telling me that Fannie Mae did not approve the sale.
They gave me an option to pay $3,000 upfront and to agree to pay off the deficiency. I just cannot afford this option. The pay off amount on the mortgage is $122,000.
The buyer is offering $99,000. The bank’s appraiser said the house is worth $92,000. The Buyer has been waiting to buy the house for 11 months.
What the bank is telling me just doesn’t make sense. Any suggestions would be greatly appreciated. David.”

Here was our answer: David, I think your lender is lying to you. We have done a lot of short sales on Fannie Mae Loans. Here is something you may not know.
Your lender does not own your loan. They do not make the ultimate decision on what happens. Fannie Mae owns your loan.
That means that Fannie Mae makes the ultimate decision on whether or not to approve your short sale. Here is why this matters. Fannie Mae does not normally ask for deficiencies or cash from a short sale seller.
They do when the seller is strategically defaulting on their mortgage. But, most people short sale their house because they are having financial problems. If your lender persists, then you might want to contact Fannie Mae directly.
Or contact your Congressperson or Senator. Let them know that you think your lender is lying to you. Fannie Mae will find out what is happening and hopefully let you walk away with no deficiency or any cash out of pocket.
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 Columbus Short Sales: Why Is This Lender Lying To This Homeowner? is provided as a courtesy to our viewers to help them make informed decisions.

Columbus Short Sales: Can I Short Sale Investment Property Without A Deficiency?

Columbus OH – The Stop Foreclosure Institute recently received a question from Phil. Here is Phil's Question.

"I am a California Resident but have 3 distressed Florida Properties pending foreclosure. Under Florida law a creditor cannot garnish wages. Will the investor pursue deficiency? If yes, will they follow FL or CA law? Thanks, Phil.”

Here was our answer. That is a legal question. Since I am not a lawyer I cannot answer it.

I do know that you can usually short sale in Florida and get the lender to forgive you of the debt. However, there are other things you can do to avoid the deficiency problem.

First, work hard to convince your lender to waive the deficiency. Investment Property Short Sales are tougher because the lenders are more reluctant to waive the deficiency.

But, many lenders will waive it. Others will agree to waive it when you have presented financial statements that show you cannot afford the deficiency.

So I think that over half of the deficiencies will be waived by the lenders. Here is what you can do for the remaining ones. First, depend on incompetence on the lender’s part.

Most lenders don’t have enough staff to handle their delinquent debt. Even if they do have the right to a deficiency in most cases the only thing they will do is call you.

When they call, you simply tell them that you don’t have the money in your budget that month to pay them anything. Don’t say anything more than that and don’t lie to them.

(A lie can get you in legal trouble later on. You are better saying very little and hanging up the phone than lying.)

Most lenders won’t do anymore than “sic” the debt collectors on you. They hardly ever go to court or attempt to garnish your wages.

In my opinion, this will enable you to short sale 90% to 95% of all investment properties and avoid paying a deficiency. Here is what you should do if you fall into the unlucky 5-10%.

Hire a good lawyer. They can usually find a hole in their court case and get you out of paying the debt. These lenders are so disorganized that they often do not have all their paperwork in order.

Or, they can find a situation where the lender broke Collection Law. In that case, the lender is usually more than happy to settle with you versus facing a lawsuit.

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 Columbus Short Sales: Can I Short Sale Investment Property Without A Deficiency? is provided as a courtesy to our viewers to help them make informed decisions.

Does My Columbus Short Sale Have To Be Approved Before I Put It Up For Sale?

Columbus OH – We often get asked if a short sale is even worth the effort. “Do I need to have my short sale “Approved” by my lender before I put my home on the market?” one seller asked us.

“When I called my lender they wouldn’t talk to me about my short sale. I am concerned that they might do that when I finally sell the property and I’ll never get the short sale approved.”

Here was our answer. Most lenders will not talk to you about a short sale until you have several things in place.

They want a solid offer from a pre-qualified home buyer along with all the necessary financial documents. Why do they do this?

Because they only want to process short sales that will sell and close. Now, I think it’s a stupid way to do things. Instead of refusing to negotiate short sales until there is an offer on the table, they should instead pre-approve short sales.

It would make the process so much easier. A home could be placed on the market at a set price.

Buyers would be more interested in the property because they know they can get an answer in 2-3 days versus 2-3 months.

But, it’s hard to change the course of a huge company with so many different parties involved. Despite all this, experienced short sale agents are getting short sales approved every day.

The Short Sale Process is getting better and easier to navigate. More and more lenders are moving towards “Approved” Short Sales.

You just need to find a good short sale realtor that can navigate their way thru the crazy short sale 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.

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 Does My Columbus Short Sale Have To Be Approved Before I Put It Up For Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Will I Still Have To Pay Property Taxes If I Do A Columbus Short Sale?

Columbus OH – The Stop Foreclosure Institute recently received a question from Paul. Here is Paul's Question.

"I am thinking about a short sale, but I am behind on my property taxes. Will I still have to pay them if I short sale my home? Max." 

Here is the answer to Paul's Question: In most cases your lender will pay those property taxes. Property taxes are a first priority lien on a property.

That means that if a property is foreclosed upon, then they still have to be paid. They don’t go away for any reason.

This is also why most lenders want to charge you monthly and then pay the property taxes themselves. They know that the taxes are a big bill that only comes once a year.

Not everyone can afford that big bill. Because your lender knows they will still have to pay the taxes after a foreclosure, they are willing to pay them during a short sale.

A foreclosure is a liquidation of the property to simply get what they can and move on. A short sale has been proven to net them more money than a foreclosure.

So if they are liquidating the property, why net more money from the sale with a short sale and avoid a foreclosure? That’s why they will pay the taxes when you short sale.

Every short sale the Stop Foreclosure Institute has sold resulted in the lender paying the property taxes that were owed. In some cases they paid 2-3 years of property taxes. 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 Will I Still Have To Pay Property Taxes If I Do A Columbus Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.