El Dorado Hills CA – Does it make you angry when a bank kicks a family out of their home and loses money as a result? This happens all the time. Let me explain how.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
A family buys a home for $250,000. The home declines in value to $150,000. At the same time, their income drops to where they can only afford a $150,000 mortgage payment.
Does their bank reduce their payment and allow them to keep their home? No! Instead, the bank forecloses on the home. But, it doesn’t sell for $150,000.
It sells for $140,000, because the bank didn’t keep it up and the buyers offered less because it was a bank owned home. The bank nets $120,000 on the sale.
So, instead of allowing the family to stay in their home and repay them $150,000; the bank instead chose to kick them out of their home and lost $30,000 as a result.
Isn’t this pathetic? We need to change the system, don’t we? Now, We can have our opinions about how the banks handle loan modifications. We can complain about how they lose their investor's money.
We can do all of this. But, it doesn't really matter if they don't care. The people at the banks are in control of the system. They think they are in the right.
The bankers think that the homeowners were stupid, irresponsible, and bought more home than they could afford. In a real business, when an employee makes a decision that loses the company $180,000 heads, then heads will roll.
Someone is getting chewed out or fired. I remember a friend telling me about a restaurant. An employee had left some chicken out overnight and it spoiled. The restaurant lost $800.
That employee probably got chewed out. Maybe even fired. But, these banks lose Fannie Mae $180,000 and nothing happens. It's business as usual. Pathetic, isn't it?
We need to get out of venting to just people who are in the business. They already know we have a problem. But, the average american doesn't know about the problems.
We need to show the American Public solid examples of how they are losing money. Let’s post the banks failings online. Tell the story at ripoffreport.com.
Loan modifications and short sales will become a game of chicken. You can tell the negotiator, "Turn down this offer at your own risk. If you fail, and the house sells for less money, then I will put the entire story up online."
That will help our cause. All we are doing is making a track record of these bank's decisions. People who have better information will make better decisions.
This will make it easier for Fannie Mae, Freddie Mac, and the American People to make better decisions on short sales and the short sale process.
So, please post your bank’s failings online. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at 3hayes@sbcglobal.net. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 530-306-3316
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thanks for reading this, John J Hayes.
John J is a Real Estate Agent at RE/MAX Gold.
Phone: 530-306-3316. 3hayes@sbcglobal.net.
"Hard Work and Dedication"
View My homes for sale at www.johnhayesrealestate.com/home-search.
John Hayes specializes in loan modification assistance and short sales in El Dorado Hills California. El Dorado Hills Loan Modification Help, El Dorado Hills Short Sales. El Dorado Hills Short Sale Realtor. Sacramento CA Loan Modification Help, Sacramento CA Short Sales. Sacramento CA Short Sale Realtor. Folsom CA Loan Modification Help, Folsom CA Short Sales. Folsom CA Short Sale Realtor. El Dorado Hills CA Short Sales. El Dorado Hills Realtor.
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Important Notice
John J Hayes, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are John J's personal views and do not reflect the views of RE/MAX Gold.
This information on We Must Educate The Public About Banker’s Stupid Decisions On El Dorado Hills Loan Modifications is provided as a courtesy to our viewers to help them make informed decisions.
