USA – The good news about the housing bust is that home prices are now more affordable. It is now cheaper to buy versus renting in many areas. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. “At the peak of the real estate bubble, cities like Miami, Phoenix… Continue Reading
USA – The Stop Foreclosure Institute recently received a question from Sergio. Here was his question. “I have owned my house since 2006. My employer reduced my salary by 30% and now I have to move out of state where I have found a new job. The house is a problem. Since 2006 my house… Continue Reading
USA – The Pros of Rental Property. The tenant pays your mortgage payment. You won’t make a lot of money while you have a mortgage. But, where else can you have someone buy and pay off something for you? Click here to discover how other sellers successfully did a short sale and avoided foreclosure. You… Continue Reading
USA – Buying a rental property can be an excellent long term investment. Some of the wealthiest people I know made their millions from rental properties. They started with a house and gradually moved up to apartment complexes. But, does it make sense for everyone? Click here to discover how other sellers successfully did a… Continue Reading
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
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
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
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
Shifting cuts and using email A couple extra tips on top of your negotiation: Many concessions can be passed on to the buyer or buyer’s agent. For instance, the bank may set your agents’ limit to 5%. You can go to the agent that’s representing the buyer and let them know that the bank is requiring… Continue Reading
Loss mitigator basics At some point when negotiating an acceptance letter and bringing your short sale to a successful close, you’re going to talk with an actual decision maker, an actual loss mitigator, someone who has some decision making capability. When you do, remember that the loss mitigator is a person. I’ve heard that he/she… Continue Reading