Columbus OH – The Stop Foreclosure Institute
recently received a question from Daniel. Here was his question.
"I am trying to buy a short sale property. I put my offer on the property
a few months ago. The property was priced about 50% lower than the other homes
in the area.
The bank finally approved the short sale. However, they said that I have to pay
the back taxes, unpaid homeowner's association fees, and the seller's closing
fees.
I agreed to do that because the home was such a good deal. However, now that
I've agreed to that the bank won't get back to the agent.
Now the agent is saying that they won't approve the sale price even with my
paying all of those costs. I don't understand what is going on? Please help.
Daniel."
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Here was our answer to his question. Daniel, it
sounds like you are frustrated. Here is the reason that your offer is not being
accepted by the short sale lender.
You mentioned that the house is selling for much less than other homes in the
area. It must be worth more than what you offered. Otherwise, you wouldn't have
been willing to pay for all of those other costs.
The bottom line is that bankers are not idiots. They have a number of different
things they check before they approve a short sale. One of those is the
fair market value of the home.
They will usually order an appraisal to check the value. It sounds like they
took a second look at the appraisal and realized that the home was selling
below market value.
If you really like the home, then you can see if they will accept an offer
closer to the appraised value. Or, keep shopping for another home. 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 and 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
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 I Want To Buy A Columbus Short Sale Property. Why Is It So
Difficult? is provided as a courtesy to our viewers to help them make informed
decisions.
Columbus OH – It is possible to sell your home
if you have multiple mortgages. But, it can be difficult. This is something
many short sale homeowners have to consider because they have multiple
mortgages.
All the mortgages on the property will have to be satisfied before you can give
clear title to the buyer. But the most important negotiation is the one which
has to be made with the lenders; which will be two or three in case of multiple
mortgages on your home.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Negotiating with two or more lenders might seem to be an intimidating task.
But, you do have a strong negotiating position because second mortgages
typically receive nothing if the home is foreclosed by the primary lender.
It is also possible for the first mortgage company to reject a short sale offer
if they think that they can do better with a foreclosure. Most second
mortgages' lien on the property is wiped out in a foreclosure.
They will opt for that if the second mortgage is demanding too much money to
approve the short sale. A second or third mortgage is called a junior mortgage.
(Third mortgages are rare. We have never seen a fourth mortgage on over 100
short sales we have worked on.)
The junior mortgage received a much smaller percentage of whatever they are
owed. Most of them agree to the short sale with them being paid $3,000, and
sometimes less than that.
The easiest second mortgage negotiations are short sales of piggyback loans. A
piggy back loan is the junior mortgage when a single bank issues two mortgage
against the same house.
This was very common during the housing boom. The loan officers at many banks
offered this combination to borrowers. The costs were usually lower than
getting just one mortgage and the banks agreed to the loans.
This piggy back loan is the second mortgage which is written off by the same
lender as of the first mortgage. In this case the realtor or the home owner
will be able to negotiate with a single person at the bank that is handling the
two loans. 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
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 Sell My Home If I
Have More Than One Mortgage? is provided as a courtesy to our viewers to help
them make informed decisions.
Columbus OH – A recent episode of the hit TV
Show, Burn Notice had an important lesson. The star of the show is a no
nonsense spy named Michael Westen.
A guy calls him and tells him that some bad guys are after both of them.
Michael says that in spy work you learn that a hot lead needs to be followed up
on right away.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
"I'll be right over", he tells the guy. Then, he rushes over to the
guy's place to meet with him. He shows up to find the guy has been murdered. He
lost out on any information he could have gotten from him.
I think we have all learned that lesson. Sometimes in life things need to be
dealt with right away. If not, then you miss your opportunity.
This happens in real estate, sports, and most people's work. If you delay, then
the opportunity will be gone forever.
So, how does that lesson relate to short sales?
There are certain times during the short sale process where you have to drop
everything and rush to get something completed. Here is an example.
Everything has been completed for a short sale negotiation. You have sent the
bank everything they have requested up to that point.
The bank has all of the information they need to make a decision on the short
sale file. The bank's short sale negotiator contacts you and tells you that the
short sale will be approved.
However, the buyer needs to pay $364,000 for the house versus the $360,000 that
was offered. In addition, they need a certain document from the short sale
seller.
Then, they give you the deadline. "If I don't have this stuff within 3
days, then I will close the short sale file", they tell you. After that
you rush to get everything completed.
It usually takes 30-60 days of hard work for us to have gotten to this point.
We know that if we don't get the short sale negotiator what they want, then we
will have to start the entire short sale process all over again.
We will have wasted 30-60 days and put our seller at greater risk of losing
their home to foreclosure. So, we get to work right away and track down all
that information.
If we can get the necessary items, then the short sale will be approved. But,
if not, then all our work will have been in vain and we will have to start the
process all over again. 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 and 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
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 Spy's Advice On How To Be Successful With Columbus Short
Sales is provided as a courtesy to our viewers to help them make informed
decisions.
Columbus OH – Realtors have a very important
role when it comes to helping sellers short sell their homes. It is the realtor
who works to attract the purchaser by communicating with buyers and their
realtor.
The seller’s agent and the buyer’s agent often have to negotiate to come up
with a consensus that is acceptable to both clients. Getting everyone to come
to a mutual agreement is not an easy task for realtors.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Realtors get stressed out because of the task that is placed upon their
shoulders.
They have to look for buyers, help the seller come up with a good hardship
letter, deal with a buyer’s realtor, and basically do everything they can to
help with the short sale.
The seller’s realtor has to analyze various offers and send these to the lender
(or the bank) and wait for them to respond to the offer that is sent to them.
Sometimes all the effort is in vain when a buyer decides that they are not
interested in buying the home anymore.
Often buyers agree to buy a short sale property but then, never get back to the
seller or to his realtor. Then the realtor has to find out whether or not the
buyer is still willing to buy the seller’s house.
I recently met a realtor in a another town. “I hate short sales", she told
me. "They are frustrating and take forever. Most of mine have dragged out
for 9-12 months. The short sale lenders are so tough to work with.”
Apparently this agent does not specialize in short sales. Neither do a
lot of the other agents that complain about them.
These agents openly admit they hate short sales. They say stuff like,
"Maybe lenders worry about what would happen if they approved too many
short sales."
They haven't taken the time to learn how they work. They don't know who owns
the loan, or their short sale requirements. (This is all readily available
information for anyone who has an internet connection.)
Maybe these agents have chosen to specialize in other areas of the real estate
business, such as new construction or first time home buyers.
Or they specialize in commercial property. All of a sudden they want to short
sale your house. Where does that put your odds of a successful short sale?
I agree that short sales can be frustrating. But, most short sales do not take
9-12 months, especially when you know what you are doing. 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 and 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
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 Do Some Realtors Actually Hate Columbus Short Sales? is
provided as a courtesy to our viewers to help them make informed decisions.
Columbus OH – It is thought that lenders tend to
permit short sales only when and if a borrower has missed a payment. This is
not true.
Lenders also take into account other hardships the borrower may be encountering
such as a divorce, job transfer, relocation, etc.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
No lender will consider a short sale just because a borrower has missed a
payment. The lender also looks at the borrower’s financial status including tax
returns, budget, bills, income, etc.
After reviewing that documentation they decide whether or not to approve short
sale. A lender will first look at the borrower’s ability to pay back the mortgage.
Some people have a hardship that they project will cause them to fall behind on
payments in the future. But, they haven't fallen behind yet.
In this situation, then the lender will see that they will have to liquidate
the property one way or another.
If they conclude that a sale of the property is inevitable and that a short
sale will be the best way to cut their losses, then they will approve the short
sale.
We have also seen lenders approve short sales even if someone's hardship didn't
put them in a position where they couldn't make their payments.
But, the person must move and is unwilling to accept a deficiency payment for
their upside down home. A good example of this is a credit worthy person with a
stable, solid income who has a job transfer.
That person is upside down and unwilling to repay the lender for the loss. The
lender knows from past experience that going thru the foreclosure process and
then trying to collect from the borrower is hopeless.
First, the foreclosure process will take longer than a short sale and cause
them to lose even more money.
Second, they know that the borrower has the option to declare bankruptcy and
use other actions to avoid paying the lender.
Third, many states do not allow the lender to pursue a borrower for the loss
after a foreclosure. So, they lose money on a foreclosure that takes a long
time and get zero from the borrower.
Based on their prior experience they know that a short sale will be their best
option to reduce their losses as much as possible. 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 and 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
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 Myth: You Must Have Missed a
Payment Before Your Lender Will Consider a Short Sale is provided as a courtesy
to our viewers to help them make informed decisions.
Columbus OH – In the field of real estate buying
a new home while short selling an old one is not an easy task.
The reason that banks allow you to short sale and walk away from the debt is to
benefit the bank, not benefit you. Banks approve short sales because they see
it as a way to cut their losses versus a foreclosure.
They do not like it when people short sell to benefit themselves and walk away
from their debt. Let’s look at how the process would work if you short sale
your home and then, buy a new one.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Where this option is concerned you have to consider that if you have not paid
your mortgage, it is very unlikely that lender would give you a loan for a new
house.
The whole reason that they agreed to grant you a short sale is that they know
that you are facing financial setbacks and hardship(s). It would not make sense
for them to give you another loan to purchase a new house.
The best way to do this is to short sell your home but not miss any payments.
It will be more difficult to convince the bank to approve the short sale and
allow you to walk away from the debt.
However, there are a lot of loan programs available to help you buy a home
after your short sale is completed. FHA has a mortgage program that allows you
to qualify after a short sale.
Many other banks and credit unions also have loan programs for this. Yes, a
short sale does affect your credit.
But, these lenders also know that it gets rid of a lot of debt which makes it
easier for you to pay your bills. They consider a short sale to be an
"acceptable derogatory" on your credit report.
They will approve you for a loan to buy a new home after taking that into
consideration. So, there are many different options to buy a home after you
short sell your current home.
The bottom line is that you have to continue making payments and maintain your
credit during the 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.
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 and 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
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: I Want To Short Sale And Buy A New
Home. What's The Best Way To Do That? is provided as a courtesy to our viewers
to help them make informed decisions.
Columbus OH – Short selling a home is not always
an easy task. Many people make a number of mistakes, inadvertently, not knowing
of the legal repercussions that follow.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
If you are someone interested in selling their house via short sale, then you
should be aware “buy and bail”. Buy and bail is a mistake some short sale
sellers make by purchasing a new house and walking away from the old one
because it is 'underwater.’
This is a method that short sale sellers may use because they feel that their
current situation may never improve. So, they buy a new home at today's lower
prices.
This is considered to be ‘mortgage fraud’ and could have serious legal
consequences and that’s the last thing you want.
Many homeowners may buy and bail and believe that what they are doing is
justified because they were misled. For example, a real estate agent may have
led the buyer to believe that home's value would never fall.
Another possible scenario is that a bank may have told the homeowner that
refinancing would be an option that would always be available to them. Then,
the bank changed their lending policies and the buyer cannot obtain a new loan.
These are scenarios where a homeowner may feel like they were deceived. Do not
make the mistake of doing this, no matter how deceived you may feel, because
you may end up going to jail.
Buy and bail is considered a mortgage fraud because often the borrower does not
reveal certain information such as their intention to discontinue making
payments to another creditor.
That is the part that is considered fraud. It is punishable by up to 30 years
in prison and a fine of up to $1,000,000. Doesn't sound like fun, does it?
If you do want to short sale and buy another house, then make sure you talk to
competent legal counsel before trying this or a similar strategy. They will be
able to tell exactly what is illegal and what is now legal. With their
guidance you may be able to buy another home and then short sale and do it
legally. 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.
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
Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on Columbus Short Sales: Don't Go To Jail by Making This Short
Sale Mistake is provided as a courtesy to our viewers to help them make
informed decisions.
