Folsom El Dorado Hills CA – In our last post, we ranted about how the bankers do a lousy, incompetent job on short sale and loan modification negotiations.
Here is how you can avoid suffering under their incompetence. The key is to hold your bank accountable. Here's how to do that.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
ell them they can do as good of a job or as bad of a job as they want to on your short sale or loan modification. But, if they do not approve it, and lose money as a result, then you will report them.
Here is an example from an email we sent to a short sale negotiator. (Some of the details have been changed to protect the home seller's identity.)
1. We have had the property at 193 NE Brock Lane for sale for over 4 months. Any buyer who would be interested in that house knows about it. They have decided not to make an offer.
The current offer is for $230,000. That is the highest and best offer we have received on this house. 2. I do not foresee a better offer coming in.
3. I project that if you reject this short sale and foreclose, then the home will sell for around $200,000. Here is how I came up with that number.
A. The local real estate market is declining by about 5% annually.
B. The foreclosure case is going very slow and will probably run for another 9-12 months.
C. Foreclosures sell for about 10% less than other listings.
4. The loan is owned by Fannie Mae. That means they and every American Taxpayer are the ones that stand to lose $30,000 or more. I will be contacting Fannie Mae, all of the members of congress, and my local newspaper.
I will let them know that you, John Doe, rejected this short sale and caused Uncle Sam to lose (another) $30,000.
Do you see how this holds them accountable? This strategy works for loans mods to. Just run the numbers and see what the projected losses are going to be. 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.
Thinking about a loan modification? Our El Dorado Hills loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
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. Folsom Homes. Folsom Real Estate.
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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 El Dorado Hills Short Sales: How To Hold Your Bank Accountable is provided as a courtesy to our viewers to help them make informed decisions.
their mortgages. Bank of America and HSBC both approved the Short Sale at $440,000 and payed the buyer's closing costs. This Bank of America / HSBC Short Sale was completed without any seller contributions or promissory notes. Furthermore, because the seller was current on their payments, and had an approved hardship, the seller purchased another home with an FHA loan, within 30 days after the short sale closed. Many folks are not aware this is possible.
