Loan modification, foreclosure defense, short sales and other strategies for the burdened homeowner

Tag Archives: Hud

USA Short Sale Question: I’m In A Jam With Two Mortgage Companies Fighting Over Money

USA – The Stop Foreclosure Institute recently received a question from another agent named Bonnie. Here was her question. “On my short sale, the first mortgage gave me a price and a net they would allow. The title company put together the closing documents and paid the first more than the minimum net they needed…. Continue Reading

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

USA – 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… Continue Reading

USA Short Sale Myth: Anyone Can Negotiate With The Lender

USA – 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 before they can negotiate a short sale. Click here to discover how other sellers successfully did a short sale and avoided foreclosure…. Continue Reading

USA Short Sales: There Is A Surprise Lien On The Short Sale

USA – The Stop Foreclosure Institute recently received a question from James. Here is his question. “Do you have any suggestions on a surprise lien from a Water Softener company? We were able to get Bank of America to approve the short sale without paying the lien. It could take another 60 days for Bank… Continue Reading

Introduction To Loss Mitigation Concepts Course-Lesson 7- 30 days to sheriff sale quick action plan

If you have 30 days or less before your house is scheduled to be auctioned off, this constitutes an emergency. You have to do something quick to start a short sale and if necessary you need to also consider and start researching immediately ways to delay the sheriff sale further. Article continues below The first… Continue Reading

Short Sale E-Course- Segment 19: Follow up on alternative ways of collecting money

Variations on rebate method I promised to go into a further discussion of some of the non-recommended variations of collecting money in a short sale process, there’s a lot of ways to do it. Real estate is complicated and there’s so many ways to make money in real estate. In general you’re slightly more limited… Continue Reading

Introduction To Loss Mitigation Concepts Course- Lesson 1- Options: Selling Your House

Lesson 1 Options: Selling your house   If you have chosen to move you have plenty of options. You may want to use a delay option along with any of the move options to facilitate a sale and to facilitate your move. A note regarding litigation which I mentioned in two of the previous strategies,… Continue Reading

Introduction To Loss Mitigation Concepts Course- Lesson 1- Options: Delaying Foreclosure

Lesson 1 Options: Delaying foreclosure Let’s cover some of the strategies for delaying foreclosure. There are many different ways to delay a foreclosure and I recommend that you combine these strategies along with a stay in your house strategy or a move out of your house strategy that I have. Delaying can be necessary when… Continue Reading

Introduction To Loss Mitigation Concepts Course- Lesson 1- Options: Staying in House

Lesson 1- Options: Staying in house Let’s start with your options for staying. Some of these options are obvious:   My foreclosure option #1- Catch everything current- you can cure the default and catch everything current. That’s an option if you have money. I’m assuming that you wouldn’t have gotten in the situation if you… Continue Reading

Short Sale Your House & Get Paid E-Course- Segment 18: Negotiating, Acceptance Letter, Closing and Conclusion

 Negotiating multiple liens What if there are multiple liens and you need to negotiate with multiple lien holders, how do you do that? The problem when you’re dealing with multiple liens is that the first mortgage will not approve a short sale unless all junior liens receive no more than a total of $1000. However, if you’re… Continue Reading