Columbus OH – There are many benefits of a short
sale. Many people don't see the benefit. They don't do anything to avoid
foreclosure and let their bank foreclose.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Benefits of a Short Sale:
1. A short sale often allows the seller to walk away owing
nothing. You are often able to negotiate away all the debt.
Banks know they will net more money with a short sale versus foreclosure.
In fact, a recent study showed banks would net 20% more money with a short sale
versus foreclosure. Because of this, most short sale banks completely forgive
the debt.
Yes, they might be losing $100,000, or more. However, they would rather cut
their losses and let you go free.
2. Short Sale Sellers are eligible to buy another home much
faster. For example, Fannie Mae recently released a guideline
for sellers who short sale.
If you short sale, then you are eligible to buy another home two years after
the short sale.
3. A Short Sale preserves your dignity. You won't
have a "Notice of Foreclosure Sale" posted on your door while you
still live in the neighborhood.
4. A Short Sale does less damage to your credit.
Your credit score typically drops by 250 to 300 points on a foreclosure. With a
short sale, your credit may only drop by 50 points, provided you are current on
all your obligations.
Cons of a Short Sale:
1. There is no guarantee your bank will accept the short sale offer. However,
banks are working very hard to improve their processes. They want the short
sale process to become easier to work with.
2. The bank will want to see all documentation on your income and assets.
3. Short Sales do not always go fast. They can drag on for 3-6 months. However,
you can still live in the home for free during that time.
A short sale is a good option for most homeowners. It allows you to get rid of
the debt and move on with your life. Many people rent another home for less
than their mortgage payment.
In one example, a homeowner in foreclosure found a larger home with a garage.
It even had a fenced backyard for their kid. Their mortgage payment was around
$1,500.
They rented the nicer, bigger house for $850 a month and saved $650 a month.
Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on The Pros And Cons Of 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 Werner. “I am behind on my payments and
thinking of just letting my home go into foreclosure. What does that do to the
neighborhood?” he asked.
Here is our answer to his question. It does hurt
the neighborhood. But, it also hurts you.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Most banks do not do a good job and processing and handling
foreclosures. They take 12-18 months to foreclosure on a house
and then sell it.
In the meantime they do little to maintain the home. I estimate that half of
all the properties I have seen in foreclosure have never even been checked on
by the lender.
It has gotten so bad that one homeowner even started up a website
to report on these banks. The website is called Lender Offender.
Check it out here: www.LenderOffender.com.
In my opinion these banks are not being responsible with these properties.
The biggest problem is that Uncle Sam usually takes the fall for
any loss.
Uncle Sam does this by guaranteeing them against loss on many mortgages. Or in
other cases, Uncle Sam has already bought the defaulted loan from the bank.
The homes eventually sell for a discount after the foreclosure. No home buyer
is going to pay market value for a home that needs repairs!
This gives the banks little incentive to check on these properties. Fortunately
you can help. Stay in your home until it sells. Keep it looking good and
everything in good order.
Then, put it up for sale as a short sale. That will help protect the property
values in your neighborhood. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin 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 How A Columbus Short Sale Can Help You And Your Neighbors
Avoid The Side Effects Of A Foreclosure is provided as a courtesy to our
viewers to help them make informed decisions.
Columbus OH – If you are facing foreclosure,
then I'm sure you've heard of a Deed In Lieu of foreclosure. Some people say it
is a great way to avoid foreclosure.
Actually, all it does is accelerate the foreclosure process.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Here are the most common myths about a Deed In Lieu.
Common Myth #1: If I do a Deed In Lieu, then I
will not owe the lender any more money. A Deed In Lieu is
similar to a No Contest Plea.
The judge stops analyzing the foreclosure case and simply schedules the
foreclosure auction. Unless otherwise stipulated, the lender still has all the
deficiency and future collection rights. They may come after you for the loss.
Common Myth #2. A Deed In Lieu is better for my credit than a
foreclosure. I've heard many people say, "A Deed In Lieu is
better for your credit because you avoid foreclosure."
It's kind of sad to hear them say it. After you sign all the Deed In Lieu
paperwork, then your house will still be sold at a foreclosure auction. Any
person can actually bid on the house at the auction.
Common Myth #3: A Deed In Lieu Is easy. This is
absolutely not true. The process required a lot of follow up with the lender.
Most lenders require you submit all your financial information.
They want to make sure that you genuinely cannot afford the property. The
process often takes between 20 and 40 hours over the course of several months.
First, you submit your paperwork. Then, you call your lender to make sure they
received your paperwork. Then, you have to wait while they review it.
Then, you have to answer any question or provide more paperwork they request.
To me this is insane. Why not just live for free until your lender forecloses?
A Deed In Lieu of foreclosure offers almost zero benefit to you. So why go thru
the aggravation?
That is why I always recommend a short sale over a Deed In Lieu. 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.
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 Why A Columbus Short Sale Is A Better Alternative Than A
Deed-In-Lieu Of Foreclosure is provided as a courtesy to our viewers to help
them make informed decisions.
Columbus OH – We are often asked by short sale
sellers whether or not they should continue paying their mortgage payment while
they attempt to short sell their home.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Here is the quick answer. Yes, if you care about
your credit rating. No, if you don't care about your credit.
However, many people think that in order to be eligible for a short sale you
must stop paying your lender. That is not true.
Many lenders will approve a short sale, even if you are current on your
payments.
They will consider a short sale based on another hardship, such as a job
transfer, job loss, or if you foresee that you won't be able to make the
payments in the near future.
Should you stop making your payments? I am not a lawyer, and therefore cannot
give legal advice. I can only tell you my opinion. It all comes down to what is
most important to you.
If reducing damage to your credit rating is important, then continue paying for
as long as possible. Continue paying your lender until the sale closes.
Halfway into the short sale negotiations, the lender may tell you that they
will not process the short sale until you are late on the payments. At that
point you can make the decision to continue or stop making payments.
There are some reasons to stop paying your lender during a short
sale.
1. You are tight on money. Yes, you will suffer
additional credit damage. But, the benefit of using that money for other bills
may outweigh the credit damage.
2. You are concerned about a deficiency judgment or promissory
note. Many lenders will ask you for a promissory note if they
think you have the extra money.
If you want to reduce that likelihood, then you can decide to stop paying. That
decision comes with all the side effects such as credit damage and other
problems.
Many people also say that is unethical. (I am not going to comment on that. One
could make the argument both ways. Every person has to decide what is best for
them and make their own personal choices.)
Disadvantages of not paying your mortgage.
1. Credit Damage. You will suffer more damage to
your credit. That credit damage should go away in 2-3 years.
In addition, some people use a dispute strategy to get the derogatory marks
removed much faster. Some get them removed in 6 months.
The point of this article is that contrary to public opinion, you do not have
to stop paying your lender in order to short sale your home.
You can minimize the credit damage by continuing to pay until the short sale
closes. 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: Should I Stop Paying My
Mortgage During The Short Sale Process? is provided as a courtesy to our
viewers to help them make informed decisions.
Columbus OH –There
are many reasons to use a short sale to stop foreclosure. If you want to keep
your home, then you need to attempt a loan modification.
If you do not want to keep your home, then you need to consider your options.
There are 3 options if you do not want to keep your home.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Option #1: Do nothing and the lender forecloses on
the house.
Option #2: Deed in Lieu of Foreclosure. I don't
recommend this as detailed in yesterday's
column on Deed in Lieu
Option #3 is a short sale. Here are the benefits a
short sale offers over a Foreclosure or Deed in Lieu.
You will be able to buy another home in the future.
Current Fannie Mae Guidelines allow you to purchase another
house 2 years after a short sale.
Fannie Mae is the most common loan people get and most lenders have policies
similar to them. After a foreclosure, the current Fannie Mae Guidelines require
you to wait 5-7 years before getting a new loan.
How will a short sale or foreclosure affect my ability to get a
loan in the future? After a foreclosure any future application will require you to answer the question, "Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?" you'll have to answer that question yes.
If you short sale, then you can state
"No" because you short sold your home. You only have to say yes if
the bank completes the foreclosure.
How will my Credit Score be impacted? After a
short sale, the mortgage is normally reported as "paid in full,
settled." So the biggest impact will be from late payments.
This lowers your score as little as 50 points if all other payments are being
made. Most lenders review late payments in the last 12-18 months. After that,
they become less important.
After 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.
Will I owe my lender any money for the shortfall?
Few lenders ask for a promissory note on a short sale. In the
rare case they do ask for one, then they usually request the borrower repay
them a percentage of their loss.
As an example, a property we short sold, 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.
Many lenders take 12-18 months to foreclose upon a property and resell it. This
dramatically increases the loss and makes any deficiency judgment potentially
bigger. 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 How A Columbus Short Sale Can Stop Foreclosure is provided
as a courtesy to our viewers to help them make informed decisions.
Columbus OH – I
have feared this for a long time. But today I found out that it is actually
happening. Here's the story.
Someone is short selling their home. The mortgage is with ABC Bank. They happen
to have their checking or savings account at ABC Bank.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
They stop paying on their mortgage. They thought their checking account was
safe because it is a different account from their mortgage.
Then one day their debit card stops working. "Hmm, this is weird. I know I
have money in this account. It should be working", they think to
themselves.
They go check their bank account balance and find out it has been
sucked dry. In addition, their savings account has been wiped
out as well. What could have happened?
Their lender levied their bank accounts to pay the mortgage that
month. The sad thing is that most people in this situation are
close to broke. Having their last bit of savings wiped out is devastating.
Now they don't even have enough money for gas to get to work. Here is how to
avoid having this happen to you. If you get behind on any type of loan, then
make sure your checking and savings accounts are with a separate entity.
If you are behind on a car payment, then move your account elsewhere.
You want to make sure that your bank is not owned by the same
institution.
For example, Wells Fargo recently purchased Wachovia. JP Morgan Chase purchased
Washington Mutual. Bank of America purchased Countrywide.
Now, some people think this doesn't matter because these lenders are so big.
"Bank of America is huge! They will never notice that I have my checking
account with them", they tell me.
Yes, that is often true. They might not notice. Or, I've had people make the
argument that they aren't allowed to levy a bank account. Yes, that might be
true as well.
But do you have time to read thru the 20 pages of fine print for when you first
opened your checking account? I'm not a lawyer and I would never try to go thru
all that.
It's much simpler to simply move your account elsewhere before you miss a
payment. 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 Thinking About A Columbus Short Sale? Don't Let Your Lender
Levy Your Bank Account is provided as a courtesy to our viewers to help them
make informed decisions.
Columbus OH – People with a VA loan often ask if they are eligible for a short
sale. The answer is yes. A VA Short Sale is called a VA Compromise Sale.
The Department of Veterans Affairs publicly releases copies of the Compromise
Sale Guidelines. We usually list the property for sale and then submit all the
short sale paperwork after a contract is accepted by the seller.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
The lender will order a VA Appraisal. All the appraisals go thru a VA Loan
Center. There are 9 Regional VA Loan Centers as of today. After the appraisal
is done, I always call the local VA Loan Center. I fax them a request for a
copy of the appraisal.
Upon receipt of my request they fax me a full copy of the
appraisal. I can see everything on the appraisal.
All the comparable sales they used, etc.
I love it because it makes the short sale process more transparent. Now if only
we could get Fannie Mae & Freddie Mac to do the same thing! If I think
the appraisal has inaccuracies, then I can request a dispute.
Most of the Loan Centers have an appraiser on staff that handles disputes.
Here is how to find out if you have a VA Loan.
On the mortgage recorded in the public records, usually 1-4 pages past the
signature page will be a VA Rider. At the top it will say "NOTICE: THIS
LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS
AFFAIRS."
The link below is for a VA mortgage. The page for the VA mortgage was 2
pages below the original signature page of the mortgage. The pages between this
and the signature page had the notary signature and the legal description.
http://gainesvilleshortsaleblog.com/wp-content/uploads/2012/08/VA-Mortgage.jpg
These are fairly simple short sales. They are tougher than others
because VA will not accept a sales that nets them less than
88.13% of the VA appraisal.
I don't think they allow exemptions. I don't know because I have never asked
for one. The lenders are not delegated, at least not in my experience. The
process is the lender assembles a package and submits to VA.
Will I get a Deficiency Judgment on a VA Short Sale?
They will give a complete release if a seller participates in
the short sale program.
But, the borrower has to pay back the loss to be eligible for a VA loan again
in the future. 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 How a Columbus Short Sale Works When You Have A VA Loan is
provided as a courtesy to our viewers to help them make informed decisions.
