Using an investor to make a cash offer on your distressed mortgage and property has two immense benefits. The short sale will assuredly move along faster, and they can negotiate the deficiency better than anyone else. Realtors should be used for what they do: sell houses. Not for what they don’t do: make cash offers to buy and negotiate deficiencies. Finding a retail buyer can be treacherous.
The time to negotiate the hardship deficiency is before the property sells. After a short sale or a deed in lieu or a foreclosure, it’s too late. The bank has you. Depending on whether you live in a judicial state or a non-judicial state, that condition would be catastrophic.
Deficiency laws vary from state to state. These are the laws and pieces of legislation that govern if and how a lender can pursue a homeowner who defaults on a mortgage – even if that default is worked out with the lender prior to the transaction in which the property changes hands, as in a short sale.
For example, in some states, a lender can pursue a homeowner for the deficiency – the amount of debt left over – after a short sale is completed. This option is particularly likely if the property owner used a short sale to exit ownership of a second home or rental property. Another issue for property owners facing foreclosure may be the issue of “subsequent loan” deficiencies. While many homeowners believe that once the foreclosure is complete, the issue with a lender is over, in reality they may still be liable for secondary or subsequent loans, such as amounts of money taken out of previously existing equity to finance improvements on the home.
While a foreclosure may resolve the original loan, often the lender can pursue the former owner for the subsequent loan amount if that loan is not included in negotiations.
The time to call me is before the property is listed for sale, before you call a realtor. Once the cash offer is submitted to the lender, then a realtor can simultaneously market the property and our negotiator can negotiate the hardship and deficiency ar the same time. If the property is listed, your selling price is at the mercy of the lender. They’ve got you over a barrel.
The REST Report assures you of a short sale vs. foreclosure.
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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 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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Originally posted 2010-07-27 10:48:08. Republished by Blog Post Promoter
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people are stupid
Two Benefits of using an Investor to Short Sell your property – http://t.co/Xz2qt95