USA – In 2010, an agent I know talked to the person at Bank of America in charge of the Loss Mitigation Department. He was the top manager in the department that handles short sales, loan modifications, and foreclosures. He contacted this agent because agents were banding together to educate the public on the mistakes… Continue Reading
USA – The National Consumer Law Center wrote a White Paper on how banks handle loan modifications, short sales and foreclosures. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. They titles their White Paper “Why Servicers Foreclose When They Should Modify and Other Puzzles of Servicer Behavior.” Check… Continue Reading
USA – While most people think of realtors as a person you turn to only when you’re buying or selling a home; many don’t realize that a realtor’s expertise in the housing industry can help you in other ways also. If you are facing possible foreclosure, turning to a realtor for help may be one… Continue Reading
USA – This is another short sale myth we’ve seen tossed around. Some people in the media even suggested that banks were delaying foreclosures to delay losses being recorded on their books. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here is what I think is the real… Continue Reading
USA – In our last post, we ranted about how the bankers do a lousy, incompetent job on short sale and loan modification negotiations. Here is how you can avoid suffering under their incompetence. The key is to hold your bank accountable. Here’s how to do that. Click here to discover how other sellers successfully… Continue Reading
USA – Many lenders do not own the loans they handle. Instead, they are paid by the actual loan owner to collect payment. In my opinion, the banks make millions by understaffing their foreclosure departments? Here’s a real life example. A bank forecloses on a house and waits for over a year to list it for… Continue Reading
USA – The next step in going over your credit reports is to really rank the items being reported about you to find ones that are the most negative. Rank the negative items with the MOST negative ones given the lowest ranking. Get my Free, Step By Step Loan Modification Guide by clicking here. You… Continue Reading
USA – In our last post, we agreed that the first step in fixing the flawed short sale process is to acknowledge what the problem is. We agreed that the problem is that the lenders and investors are losing billions on defaulted loans. In addition, American Homeowners are losing billions on declining home values caused… Continue Reading
It Isn’t Likely Your Lender Will Collect Any More Money From You After A USA Short Sale
USA – Many homeowners considering a short sale are concerned about a deficiency. “Will I be forced to repay my bank for the $150,000 they lost”, they ask me. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. The good news is that most homeowners are able to walk… Continue Reading