Mortgage-Mod-Monster.com» HAFA

Delay a short sale on the cheap, or get it done today

admin — Fri, 30 Dec 2011 19:12:08 +0000

After ten months of of the Home Affordable Mortgage Plan, or HAMP, the rules for applying for a mortgage short sale now duplicate the mortgage modification process. We all hope it speeds up the notoriously slow short sale process. One glaring fact remains however. Whether a mortgage modification or a short sale, the chances of a distressed homeowner obtaining a timely and beneficial mortgage solution are slim and none without professional assistance.

The mortgage servicers know that they make more money on any given foreclosure. Treachery is their prime objective. They exist to make money. Mortgage modifications and short sales don’t make money. They make money by charging late fees and foreclosure.They have no ‘skin in the game.” They don’t lose new home purchase documents. Why do you suppose they can’t find mortgage modification or short sale documents?

Your mortgage investor, on the other hand, only benefits from mortgage modification or short sale. They do not benefit from foreclosure – or Deed-in-Lieu.

When I had my homework completed on time in school, I had no problem turning it in. When I didn’t have it, I spent the 35 minutes on the bus to school conjuring up some other good excuse other than my non-existent pet dog to blame it on. Before I had my driver’s license, I couldn’t use the old flat-tire excuse that the older kids used.

The solution is to use the lender’s software to calculate a beneficial mortgage modification or short sale, and then file it as a legal document. My investors are prepared to make a cash offer to your mortgage investor that they require to negotiate a beneficial short sale for the distressed homeowner.

Today I read yet another story about a qualified prospective homeowner attempting to buy a short sale property. Every piece is in place, except the REST Report that can force the lenders to behave and perform.

The wanna-be homebuyer has been waiting for ten months. There is no information on the seller. My investor and negotiator would have consumated a double close in less than sixty days. These poor souls would have been in their home for eight months now. Someone in this transaction is being greedy. The distressed seller, the listing real estate agent, the new homebuyer, the lenders, or the buyer’s real estate agent. Is there money involved with an intermediary investor such as the the one I represent? Yes, there is. But for these concerned parties, There are only two reasons or excuses: either everyone concerned doesn’t know that an investor could expedite the transaction, or they’re greedy. Take your pick. A distressed homeowner seeking a short sale should only be concerned with one thing: Can/will the investor negotiate my short sale so that I am never held responsible for the mortgage deficiency? (Can I walk away from my distressed property without ever owing a dime?)

One more item: No one that I can find is satisfied with HAFA, or the Home Affordable Foreclosure Assistance plan. It was written by the banks. Go figure.

This YouTube video says it all. Go here: How to Get A Beneficial Mortgage Modification Now

I have a web submission form at the bottom of this blog’s home page. Talk to me.

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tags: short sale, do it yourself short sale, rest report, avoid foreclosure, stop foreclosure, prevent foreclosure, foreclosure alternatives, self negotiated short sale, negotiate mortgage deficiency, negotiate short sale, investor negotiated short sale, discharge mortgage deficiency, homeowner negotiated short sale, hafa, home affordable foreclosure assistance,

Originally posted 2010-02-01 02:01:58. Republished by Blog Post Promoter

10 Costly Short Sale Mistakes – and how to avoid them

admin — Tue, 20 Dec 2011 17:32:37 +0000

Short Sale and How to Avoid Costly Mistakes.

Albert Stimer August 27, 2009 Short sales can be very confusing and as such can cause Realtors to make mistakes which may affect everyone involved.

ORLANDO, FLORIDA – August 27, 2009 – “Short sales” require that both the homeowner and the Realtor complete several steps and complete them successfully. However a experienced “short sale” investor will know what to avoid in a “short sale” situation.

Here are ten mistakes that Realtors make when involved with “short sales”:

 Doing nothing.

 Not following the rules.

 Weak presentations.

 Being all talk but no action.

 Being unprepared at any step in the process.

 Diversifying.

 Problems with supporting documentation package.

 Problems with the Broker Price Opinion (BPO).

 Not hanging in there.

 Disclosure , Disclosure , Disclosure

My experienced investor solves all of these pitfalls.

Don’t do HAFA, or the Home Affordable Foreclosure Assistance program from HAMP. No one has liked it that committed to it.

Click to read more about your Do-it-Yourself Mortgage Modification REST Report

This YouTube video says it all. Go here: How to Get A Beneficial Mortgage Modification Now Please ‘Like’ the video, will you? That makes it easier for others to find.

I have a web submission form at the bottom of this home page. Talk to me.

I read every comment. Please use the Comment box below and tell me what you think.

Read it here

tags: do it yourself short sale, rest report, avoid foreclosure, stop foreclosure, prevent foreclosure, foreclosure alternatives, self negotiated short sale, negotiate short sale, investor negotiated short sale, discharge mortgage deficiency, homeowner negotiated short sale, hafa, home affordable foreclosure assistance,negotiate mortgage deficiency,

Originally posted 2009-08-29 22:11:10. Republished by Blog Post Promoter

The Short Sale Headache

admin — Fri, 09 Dec 2011 02:15:33 +0000

Roz Burton-Torres writes today in the Seattle Real Estate Examiner about the little known nail-biting headache in attempting a short sale on their own. Typically, If the homeowner has 6 months to a year to spend on getting their home short sale negotiated, maybe they can get it accomplished themselves. More likely, contracting with an investor firm that has a reputation for negotiating mortgage deficiencies and closing on short sales in 30-60 days will solve your problem and let you start repairing your life sooner.

Get this through your head. Your mortgage servicer wants your house. They get paid for foreclosure. Nothing else. They have no regard for you. The secret is to get to your mortgage investor and your mortgage servicer will make them behave.

Whatever you do, avoid the HAFA, or Home Affordable Foreclosure Assistance Program. No one who has entered the program has been satisfied. The banks wrote the law. Who would you guess the law benefits?

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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 your reduced income is too low, short sale versus foreclosure is the goal. The REST Report 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 the 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.

This YouTube video explains the Broken Chain of Title, short sale, cloud on title situation

Read Roz here.

tags: do it yourself short sale, rest report, avoid foreclosure, stop foreclosure, prevent foreclosure, foreclosure alternatives, self negotiated short sale, negotiate short sale, investor negotiated short sale, discharge mortgage deficiency, homeowner negotiated short sale, hafa, home affordable foreclosure assistance,negotiate mortgage deficiency,

Originally posted 2009-08-04 20:29:16. Republished by Blog Post Promoter

Professional Short sale now just as fast as mortgage modification

admin — Mon, 28 Nov 2011 22:31:38 +0000

The short sale and mortgage modification application and process are increasingly becoming identical. Although the official federal rules don’t
take effect until April, the noose is tightening around reluctant and treacherous lenders who obfuscate, delay, and avoid professional distressed mortgage assistance. My conversation with an distressed homeowner will now be much simpler; “In a perfect world, do you want to keep your home and get a mortgage modification? or short sell your property and liquidate your obligation?. The paperwork and supporting documents are identical, and now, the lender will be held accountable in good-faith negotiations regardless of the decision.

Having represented a firm that is 95% successful in beneficial, affordable mortgage modifications for nine months, I can now refer a distressed homeowner to an efficient short sale negotiator who will hold the lender’s feet to the fire and require them to respond professionally and promptly.
This is done by having the same calculation parameters, the direct numbers of the actual lender decision-makers, and hundreds of similar short sale files so as to tie up the bank negotiator so they have no escape. The firms I represent can reasonably assure the distressed property owner that answers will be provided in 30 to 60 days.

This eliminates horror stories like the one linked below. The press is full of the stories of short sale candidates that can’r sell their property because the lender won’t respond. The second half of the secret sauce is to have a private investor with the capital to purchase the property the instant a slae price is reached with the lender.

The time for lender excuses is over. The private money in the United States will solve the stagnant mortgage credit market, if we can just get out the word on our ability.

Nationally, short sales nearly tripled to 40,000 in the first six months of 2009 compared with the same period a year earlier, according to a report from the Office of Thrift Supervision, the federal bank regulator, and the Office of the Comptroller of the Currency.

The fact is that the individual home seller, real estate agent, investor, or end buyer will never get the decision maker on the line. But we do, because of client volume and the strength of funds. Since we have a bigger database and negotiation experience, we can avoid the silly counter-offers that lenders use to stall the short sale process.

Read it here

tags: do it yourself short sale, rest report, avoid foreclosure, stop foreclosure, prevent foreclosure, foreclosure alternatives, self negotiated short sale, negotiate short sale, investor negotiated short sale, discharge mortgage deficiency, homeowner negotiated short sale, hafa, home affordable foreclosure assistance,negotiate mortgage deficiency,

Originally posted 2009-12-22 22:09:00. Republished by Blog Post Promoter

A Perfect Story on How to Scuttle a Perfect Short Sale

admin — Wed, 26 Oct 2011 17:14:18 +0000

Yet another story of a frustrated short sale transaction. This one shows in a concise way how to deep-six a perfectly straight forward short sale that benefits seller, buyer, and lender. The foul-up? Involving a well-intentioned but hog-tied real estate agent. Here’s why:

The story comes from yet another qualified buyer. This buyer is a cash buyer, the most efficient kind. They are also paying closing costs. Perfect.

After six months of negotiations that the buyers are not privy to, the transaction still remains in the lurch. Why? Because the listing real estate agent doesn’t have the connections at the lender to complete the negotiations. Involving two agents plus lender and buyer is a true recipe for failure. If the buyer had involved an investor-negotiator, chances are this sale would have been completed three months ago.
We do it all the time.

Distressed homeowners are mistakenly told that they need a real estate agent (or two) involved to accomplish a short sale. That is the kink here.

In order to efficiently complete a short sale, the end-parties need an experienced short sale negotiator and efficient marketing. Neither of those requirements necessarily require real estate agents, no matter how well-meaning they are.

Lenders are ‘encouraged’ to respond to purchase offers in a timely manner. That means that a cash offer from anywhere should be taken seriously by the lender. Now, the missing piece here is a negotiator that has experience and a working relationship with the loss mitigators at all 83 major lenders in the US today. No real estate agent can possibly have those connections and available time. They are concerned with their local market, not the financials of a major lender concerned with national financials and loss mitigation of their employer.

As the article points out, lenders are ‘encouraged’ to timely respond to qualified offers. Now, the reader needs to put themselves in the chair of the harried loss mitigator. Who are you going to respond the fastest to? An experienced nogotiator whose phone number you recognize and very probably have dealt with before? Or some Real Estate Agent in Resume Speed, Colorado?

The author of the response here misses a huge, critical point: The actual lender and/or servicer may follow a path of as many as eight different financial institutions. The REST Report, since it uses the bank’s own software, has all the necessary calculations that any servicer needs to grant a short sale and make the deficiency go away. When submitted as a legal document, the short sale package ensures that the servicer is not entitled to collect any fees or payments until a good faith negotiation takes place. All treachery on the part of the mortgage servicer is eliminated.

According to new, pending, Home Affordable Foreclosure Assistance guidelines (HAFA), once the lender determines the amount it will be willing to accept from a short sale, the borrower has 120 days in which to find a buyer for the property. That puts the marketing onus on completing the sale on the buyer’s agent. That’s where all the work is done anyway. I’ have never seen any positive report on HAFA. It was written by the banks. Go figure. Servicers don’t get paid for loan modification or short sale. They get paid to foreclose.

The distressed homeowner who needs an efficient short sale really should put their trust in the buyer’s side (read: the investor), not the listing side. The author here mistakenly directs the seller to a real estate agent who cannot possibly have the resources that an experienced investor/negotiator like the one I represent. That’s the way it is. Realtors sell houses – experienced investors negotiate away mortgage deficiencies.

Read more REST Report here

This YouTube video says it all. Go here: How to Get A Beneficial Mortgage Modification Now Please ‘Like’ the video, will you? That makes it easier for others to find.
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tags: do it yourself short sale, rest report, avoid foreclosure, stop foreclosure, prevent foreclosure, foreclosure alternatives, self negotiated short sale, negotiate short sale, investor negotiated short sale, discharge mortgage deficiency, homeowner negotiated short sale, hafa, home affordable foreclosure assistance,negotiate mortgage deficiency,

Originally posted 2010-02-21 15:44:22. Republished by Blog Post Promoter

Home Affordable Foreclosure Assistance going down a dead end street

admin — Tue, 25 Oct 2011 15:01:03 +0000

I have written about the pitfalls and drawbacks to the Home Affordable Foreclosure Assistance Plan (HAFA) before. Now the first online newspaper I have found has written about most of those same pitfalls and drawbacks.

HAFA was written by the banks. That says it all. But details still need to be written about. The linked article misses the most glaring drawback to HAFA. The distressed mortgage owner may not use an investor to negotiate their short sale. They are at the mercy of their lender to decide the outcome of their deficiency. That same distressed homeowner can count on a promissory note to account for the mortgage deficiency. The banks, with no discernible social conscience, are not going to turn loose of that mortgage deficiency on their own.

Depending of course on the individual hardship of the distressed mortgage owner, an adept investor can negotiate the dismissal of the entire deficiency. Because they have a cash offer for the distressed property, they have a vested interest in negotiating away that same mortgage deficiency. The bank simply wants all their money and none of the accountability for their part in the overall hardship on our economy.

The excitement and anticipation of HAFA quickly turned into disappointment as the effects of HAFA started to become clear. First of all, HAFA short sales require double the paperwork of other short sales. HAFA short sales typically take twice as long to complete, say realtors that are dealing with them. Before HAFA, the typical escrow period was 35 to 50 days. Now it’s taking 75 to 100 days in Arizona at least.

A typical short sale takes longer than regular home sales anyway because there are extra steps and more people involved.

Only about 10 percent to 20 percent of Phoenix-area short sellers actually qualify for the $3000 relocation money that comes with HAFA.

Over the past three months, HAFA short sales have developed a reputation for being more time-consuming, labor-intensive and unreliable than comparable short sales occurring outside the federal program. The HAFA applicant’s lender must send a letter of approval to the program’s administrators in Washington, who then must review the application themselves. Delays on the part of lenders and the government have dragged out the sale process.

An experienced investor is going to be more adept at efficiently gathering all of the required documentation for a short sale application.

Many realtors have watched the other aspects of the Home Affordable Mortgage Plan, or HAMP, fail. There’s not much hope here either.

Call an experienced investor like the ones I represent. We’ll get you done faster and with the smallest, if any, mortgage deficiency.

This YouTube video says it all. Go here: How to Get A Beneficial Mortgage Modification Now Please ‘Like’ the video, will you? That makes it easier for others to find.
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tags:
short sale, do it yourself short sale, rest report, avoid foreclosure, stop foreclosure, prevent foreclosure, foreclosure alternatives, self negotiated short sale, negotiate mortgage deficiency, negotiate short sale, investor negotiated short sale, discharge mortgage deficiency, homeowner negotiated short sale, hafa, home affordable foreclosure assistance,

Originally posted 2010-07-15 08:35:22. Republished by Blog Post Promoter

FHA waives ‘flipping’ restriction for a year

admin — Tue, 11 Oct 2011 14:56:48 +0000

The Federal Housing Authority (FHA) has finally figured out that the private investors in the US are the ticket to bail out the distressed homeowners in ‘underwater’ FHA guaranteed mortgage loans and short sales for the current mortgage crisis. Long viewed as the evil in facilitating investment in distressed properties, they are now recognized as entities that will move the short sale process forward. The FHA now recognizes that private investors are capable of an efficient remedy to our current ‘underwater’ mortgages.

The FHA has now waived their 90-day restriction on selling a house after a short sale, or any other distressed property purchase. Specifically this requirement is 24 CFR 203.37a(b)(2). This waiver is effective immediately and lasts until Feb 1, 2011.

Combined with the extension of the $8000 tax credit for first time home buyers and this promises to move a long list of distressed properties to new home ownership and avoid the growing number of vacant and therefore at-risk properties.

Given the overall US lenders’ reluctance to grant mortgage loans to all but the most pure credit worthy clients, this waiver promises to benefit the usually less credit-worthy home buyer.

There are conditions that will restrict the fast and loose investor. The new seller/owner must prove title to the property. This will prevent the ‘same-day’ or double close so in vogue with transistional funding investors. It’s estimated that the investor will have to hold the property for at least two weeks to enable title work to be filed and recorded. Still, two weeks is much better than the 90 days that investors have struggled with since the early eighties when this rule was conjured up to eliminate the exploitative ‘flipping’ practice so prevalent at the time.

The original rule was passed so that unethical inflation of property values and ‘gold-mining’ of fake property valuations was eliminated. With current bank-owned real estate inventories ballooning to critical levels, the private investors of the US are recognized as a valuable tool to move these vacant, unoccupied ‘troubled assets’ to home ownership for prospective and FHA qualified buyers.

Buyers and sellers in what is referred to as an A-B, B-C transaction (B representing the investor) must be at ‘arms-length, or no relation. No fair selling to your close relatives as an investor.

Investors on the ‘B’ side cannot show a pattern of ‘flipping’. Investing and flipping of FHA properties cannot be a business. The property must be a primary residence of the ‘B’ side investor. Assuredly this will necessitate some proxy residents. Proof of residence will be required.

And here is the most serious qualifier: If the resale is 20% higher than the investor’s purchase price, certain safeguards must be met. Basically, the investor has two weeks to prove that the property has increased in value more than 20 percent. This will allow the investor to increase the eye-appeal of the property to whatever level, and take as long as they need to, to make it an appealing buy.

If the resale price is 20% higher than the investor’s purchase price, the investor or distressed homeowner will have to pony up some proof to an independent appraiser that renovations and repairs justify the higher price. That’s just good standard practice to have as a flipper today anyway. This may easily trigger a second appraisal. If duplicate appraisals are required, they must be consistent. Of course this is the critical requirement that should prevent the dishonest price inflation that prompted the original ‘flipping’ restriction in the first place.

There are minimum inspection requirements for the property. Investors will be encouraged to include as many closing costs as possible in the A-B transaction.

This YouTube video says it all. Go here: How to Get A Beneficial Mortgage Modification Now Please ‘Like’ the video, will you? That makes it easier for others to find.
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tags: do it yourself short sale, rest report, avoid foreclosure, stop foreclosure, prevent foreclosure, foreclosure alternatives, self negotiated short sale, negotiate short sale, investor negotiated short sale, discharge mortgage deficiency, homeowner negotiated short sale, hafa, home affordable foreclosure assistance,negotiate mortgage deficiency, federal housing authority

Originally posted 2010-01-17 07:14:50. Republished by Blog Post Promoter

Canary in the Short Sale Mine

admin — Sat, 17 Sep 2011 18:57:55 +0000

You read it here first: The new HAFA, or Home Affordable Foreclosure Assistance program just rolled out by our illustrious Federal government will be a spectacular failure. Within months it will prove to be an incredible boondoggle resembling the funniest rabbit chase anyone ever witnessed. I’ve read every online explanation I can find and have been scratching my head for months.

This last week I attended a seminar on the guidelines and came out dumbfounded. The seminar was presented by a local, well-respected title company representative and one of the three certified HUD counselors on the western slope of Colorado. (Math quiz: 20 western Colorado counties. The most populous being Mesa County, is averaging 30 foreclosures per week. Do you need a calculator for this?)

Try this: the banks had significant input into this HAFA legislation. Who do you suppose is to be the chief beneficiary of this legislation? Do even cursory research into the NPV, or Net Present Value calculation used by these banks to evaluate whether it benefits them to grant either a mortgage modification or a short sale and you’ll realize who the banks really want to benefit.

The single most important concept to grasp is that the law, or HAMP, does in fact help when enforced by private sector attorneys. It is that the federal government (outside of the US Dept. of Justice) is incapable of enforcing it. (This includes the Federal Trade Commission, by the way.) HAFA does absolutely nothing that an experienced short sale negotiator can’t do even better.

Read on today, and stay tuned. The banks did not have much input into the Home Affordable Mortgage Plan (HAMP) from last March. But they reportedly wrote most of this (HAFA) barnyard fodder. Even FHA and Freddie Mac understand and appreciate the value of investors in alleviating the distress of a troubled mortgage. HAFA does not. Where do you suppose that view came from?

These are the same banks that have granted permanent mortgage modifications to 1% of the estimated 4 million properties that could benefit from the HAMP program. Who might you suppose they want to assist here? Bottom line: you need legal representation for either a mortgage modification or a short sale negotiation.

If any distressed homeowner is engaged in a short sale attempt with a realtor, read every word of the SSA, or Short Sale Agreement. The longer the seminar went on, the more dangerous this single document turned out to be. Once you sign it, you are locked in to the toilet bowl swirl. It appears that filing for bankruptcy is the only realistic escape. It is clear that the first move should be to talk to an experienced short sale investor. (Like the one I represent). The consultation is free and won’t be a sales pitch.

Why would any distressed homeowner eliminate half of their available homebuyer market by signing a document that excludes experienced short sale negotiators that can accomplish the same short sale in probably less time?

You will be forced to take whatever the bank gives you. No negotiation. They own you. You will be forced sell to a retail buyer. Why? Because the buyer must hold title for 90 days. This eliminates any investor from any possibility of helping in your relief.

The monetary rewards to the distressed seller are highly touted. These are ‘moving expenses’. Very attractive. A qualified investor will get that and more in the negotiations. You’re being sold.

The short sale prospect must be disqualified for a HAMP mortgage modification. What if your loan is not HAMP qualified? What if you qualify but need to relocate anyway? It appears you’ll be forced into applying for a mortgage modification.

Before you sign this potentially damaging SSA, consult a qualified investor. Call me. Maybe the HAFA is perfect for you and your family. Only you can decide after you have all the information and facts. If nothing else, I can qualify, or disqualify, you for a mortgage modification of any kind.

For those readers that prefer YouTube videos, try this: Give Your Mortgage Lender a Mortgage Modification or Short Sale Offer They Can’t Refuse

Click to read more about your Do-it-Yourself Mortgage Modification REST Report
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tags: do it yourself short sale, rest report, avoid foreclosure, stop foreclosure, prevent foreclosure, foreclosure alternatives, self negotiated short sale, negotiate short sale, investor negotiated short sale, discharge mortgage deficiency, homeowner negotiated short sale, hafa, home affordable foreclosure assistance,negotiate mortgage deficiency,

Originally posted 2010-04-10 10:12:17. Republished by Blog Post Promoter

When Short Sale Fraud isn’t

admin — Tue, 06 Sep 2011 18:14:06 +0000

Media posts on short sale fraud seem to be getting more popular as the mortgage crisis moves on. The problem is that explanations of that fraud and avoiding being a victim, seem to make the explanation even less evident.

Knowing that the California Attorney General has a flawed record of identifying mortgage modification fraud also makes me suspicious when I read of their current warning of short sale fraud. I have written about the inadvisability of committing to the new Home Affordable Foreclosure Assistance (HAFA) Act. HAFA was written by the banks, so anyone could easily imagine who HAFA was meant to benefit (Read: not the distressed homeowner).

Those of us well-versed in the mortgage modification business know that the “Sky is Falling” squawking is just not evident. Combining the California Attorney General’s feather ruffling with the demonstrated mis-statements of US Secretary Geihtner and Attorney General Holder makes the situation worse.

Any homeowner is free to negotate their own short sale settlement. (That’s if you can ever get an authorized bank representative on the phone. The only requirement is that a licensed real estate agent list the distressed property on the local MLS. Any other marketing is up to the agent and distressed homeowner.

The agent’s job is to sell the home for a commission. Chances of any real estate agent having experience in negotiating a short sale and getting rid of the mortgage deficiency are slim and none.

An investor/negotiator has “skin in the game,” as they say. By making a cash offer for the distressed property, the mortgage investor is bound by law to consider the offer in good faith. By including the REST Report as an unbiased calculation of the Net Present Value the investor ensures that the offer will get due consideration.

My investor/negotiator does not charge any up-front fees. In fact they are a licensed real estate agent. We expect to make our earnings at closing. That’s why it’s called “investing.”

Any homeowner is free to sell their property to anyone. No license is needed.

The term “Concurrent close” is a new one to me. The common terms for years have been “double close,” which is absolutely and perfectly legal; and “simultaneous close,” which is absolutely illegal. It involves co-mingling of funds and always was illegal. Any licensed title company that preformed a registered real estate transaction would know the difference.

A lease agreement is a binding contract between two individuals. If a leased property is foreclosed on, the landlord violated the lease.
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Read this almost completely inaccurate post here

tags: do it yourself short sale, rest report, avoid foreclosure, stop foreclosure, prevent foreclosure, foreclosure alternatives, self negotiated short sale, negotiate short sale, investor negotiated short sale, discharge mortgage deficiency, homeowner negotiated short sale, hafa, home affordable foreclosure assistance,negotiate mortgage deficiency,simultaneous close

Originally posted 2010-07-03 08:47:15. Republished by Blog Post Promoter

Short Sale Bank Approvals Easier, Faster Than Ever?

admin — Tue, 30 Aug 2011 18:09:42 +0000

The general media periodically feels compelled to write a piece about short sales getting easier and easier as the foreclosure mess goes on. Typically the statistics cited come from some obscure public relations arm of the mortgage industry.

The simple, demonstrated fact is that mortgage servicers avoid short sales as much as mortgage modifications. The servicers only get paid for foreclosures. There’s no money in mortgage modifications or short sales for them. Add the facts that a cash offer must be tendered for a short sale prospect, and the necessity of negotiating the mortgage deficiency BEFORE the closing; and you have some higher level of complexity loaded on the transaction to the distressed property buyer.

Nevertheless, there are experienced investors that can and will do both of those tasks as part of their potential profit from real estate. As long as the distressed homeowner escapes with no mortgage deficiency, a short sale is by far the best solution in the short and long run if the property mortgage can’t or won’t be modified.

The REST Report ensures no arguing with the mortgage servicer or investor about sales price. Assuming a true hardship, escaping the mortgage deficiency is assured.

Click to read more about your Do-it-Yourself Mortgage Modification REST Report

For those readers that prefer YouTube videos, try this:
Give your lender a Mortgage Modification or Short Sale Offer They Can’t Refuse
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tags: do it yourself short sale, rest report, avoid foreclosure, stop foreclosure, prevent foreclosure, foreclosure alternatives, self negotiated short sale, negotiate short sale, investor negotiated short sale, discharge mortgage deficiency, homeowner negotiated short sale, hafa, home affordable foreclosure assistance,negotiate mortgage deficiency,

Originally posted 2009-07-16 23:43:32. Republished by Blog Post Promoter