The mortgage servicers are just as adept at sandbagging experienced investors in short sales as they are at homeowners applying for a mortgage modification. And for the same reason. They make more money on a foreclosure.
The first consideration is that the REST Report uses bank software to qualify you for either a short sale or a mortgage modification. This stops and prevents a foreclosure or Deed-in-Lieu.
If time is of the essence, you want a short sell expert that can negotiate with your lender and buy your home from you in less than a month. Then the investor can hold your property for awhile – while you move on without the financial burden.
Every homeowner and real estate agent who has tried HAFA, or the Home Affordable Foreclosure Assistance program is sorry they did. It was written by and for the banks, not you.
The elephant in the room is negotiating your mortgage deficiency so that you walk away with no future obligation. That’s the huge benefit an experienced investor can give you. And no judge is going to allow a foreclosure as long as that investor has a bid on the distressed property.
The internet being what it is, certain search terms need to be empahasized so that you can find the best information. Obviously this page concerns short sale, short sale rules, and foreclosure alternatives. But other concerns such as try title, quiet title, and clear title may apply. The REST Report is best classified as loan modification software or do it yourself loan modification. But if reduced income is too low, short sale versus foreclosure is the goal. It’s claim to fame is that you use it to calculate Net Present Value exactly the way the banks do, using their software. It is the answer for a real estate title search to decide if your mortgage servicer has the right to foreclose on you at all. This blog is dedicated to independant mortgage advice. If you have assignment of title issues or need to calculate net present value, you may have a cloud on your title which can block short sale rules. This blog is a resource to evaluate short sale vs. foreclosure. There is no excuse for foreclosure other than the treachery of your mortgage servicer. How may I help? Powered by Fast Secure Contact Form
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This YouTube video explains the Broken Chain of Title, short sale, cloud on title situation
Read this story – here
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Originally posted 2009-07-30 00:22:36. Republished by Blog Post Promoter
{ 1 comment }
very nice blog, i gonna visit again