Linda:
It was good talking to you today. I would be very glad to help you with the loan mod. Attached is the form I need in order to see if I can help you. If you send it to me tonight, I can let you know most likely by tomorrow afternoon. My fax number is 503-296-5663 and my phone number is 971-222-3734.
Sincerely,
Oscar
T:
Thanks for considering me for your short sales needs. I am happy to help you.
The best way of the situation for you is to sell the property for at least what you owe, or pay the difference if there is a short fall. If this is not possible, a short sale is your next best alternative. In this case you will need to be in good terms with your husband and collaborate with an agent such as me, to sell the property on a short sale. There is plenty of paper work. Foreclosure is your worst option because it will stay on your record for a long time. I can help you more if I know the situation better. I will call you later.
Go to my web site www.OscarPdx.com. I have plenty of information that will be of your interest. I would be very interested in listing your house.
Sincerely,
Oscar
At 01:43 PM 4/9/2009, you wrote:
Hello,
I just found your website and wanted to ask a couple of questions.
My husband and I are at the very beginning of a divorce. We need to sell our home because neither of us can afford to make the mortgage payments separate from each other. However, we owe more than the house is worth so from what I read it appears we need to do a short sale. We are not late on our payments, however it is only a matter of time before that happens since my husband has already moved out.
Our house is in Sherwood, Oregon. Is this something you can help with? What is the procedure for short sales and once the short sale is complete is it possible to purchase a house again in a price range I can afford on my own, or will banks frown on giving me a loan after a short sale?
Thank you.
T.D.
Barbara:
I spoke with one of the attorneys I work with. Below is his response.
There would be no guarantees of any success of course, but for a non-refundable up-front fee of $500 per loan (cashier check only) we would be willing to try with a letter faxed to each lender plus up to 4 follow-up phone calls to see if we could get them to postpone. In order to negotiate effectively, we would need a typical loan modification package completed for each which we would need to review to determine whether there is any reasonable case or argument for postponement, such as potential qualification for loan mod, pending short sale, BK threat, etc. If upon review we do not believe there is any credible argument or case to be made for postponement, we will reject the potential client and return the cashier checks uncashed.
Here are the options:
List the property: Chances are the bank will postpone foreclosure. No cost. In this case you will need to send a copy of the listing agreement to the bank.
File for bankruptcy: This will put a stay on the property. It is costly and has strings attached. You will buy time, but eventually, if the property will be foreclosed. At least your are living for free.
Most likely just listing the property will do it. If needed you can hire the attorney to perform his idea. Please don't take any of this as legal advice.
Let me know how can I further help you.
Oscar
www.bestshortsales.com www.rapidforeclosuredata.com www.oscarpdx.com www.modificaciones.net www.modificationsloan.net
K:
I was busy while you called. Below are my answers in red.
Oscar
At 08:54 AM 3/10/2009, you wrote:
Hi Oscar,
I see you received my email last night. Thanks for your patience with this process. There are a few things I've been told that should be part of the documentation which I don't see here.
Question: 1. There should be a short sale addendum that explains that in a short sale, it's not under contract unless the 3rd party accepts the short sale agreement. The offer and negotiations are not under contract until the third party accepts and that both the buyer and seller understand this.Answer: The is no short sale negotiations until there is an offer. NO offer no short sale negotiation, no buyer, no sale.
Question: 2. In Section 3, right to compensation... Will you please explain very clearly what you mean by this. I'm not understanding the wording.
Answer: I assume you are referring to the Oregon Listing Contract Form. All this document is about me getting paid if there is a sale. This is all on the contingency of the property been sold. The payment is by earned commission in this case. Not by fee for services.
Question: 3. It should be explained that both the buying and selling agent's commissions should be based on contingency of banks approval on what they are willing to pay. This should be made clear in the documentation. I don't see it explained or mentioned.
Answer: In a short sale the creditor(s), which are "the bank" make a space of the commission. You will not come out of pocket for this. If you don't like the settlement, then you don't close. Commissions are shown on the HUD 1 settlement statement that will be used for closing by the title company.
Question: I hope that we can sort this out and move on to list my property once we can agree on things. The person I'm having read over the docs will be busy today. I'm hoping we can have this resolved soon and move forward with the signing and listing agreement.
Answer: I am glad you look at the documents well.
Oscar
Thanks, K
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www.BestShortSales.com 9220 SW Barbur Blvd Suite 119 - Box 159 Portland, Or 97219
Credentials:
Oscar is among many real estate professionals who are closely tracking the looming indebtedness of American property owners. Oscar, however, sees things a little differently that most. After studying the process of how people go into debt and end up losing their homes through foreclosure (only to be left with mountains of debt), Oscar started a crusade to help distressed property owners save their credit and dignity. He does this by negotiating reduced settlement payoffs with the lenders. "It happens a lot," says Oscar. "Good, hard-working people just run into trouble for a lot of reasons".
Relaxed banking regulations, ambitious lending practices, uninsured property damage, personal life changes or a myriad of other causes can contribute to a property owner becoming over-mortgaged. In other words, property owners end up owing more than their property is worth and can't keep up with payments.
After seeing a sharp decline in architectural work in the Portland, Oregon area after 2001, Oscar was compelled to make a drastic career change. With little money of his own, Oscar began relentlessly researching every aspect of the local real estate market attending seminars, reading books and talking to everyone he knew that had anything to do with real estate. He found that his most lucrative opportunities lay in the complex situations that arose when over-mortgaged properties were headed into foreclosure. Oscar has been actively involved in real estate acquisition through short sale negotiations with lenders since 2003.
Oscar is well aware of the vulnerability of people in financial trouble and detests those who make a business out of deceptive tactics to obtain distressed properties. Some say it is a fine line, but the pile of thank you notes and referral letters from property owners he has helped clearly indicate that his "win-win" philosophy works. He is now teaching others through his information-packed Short Sales A-Z Online Video Course. In this course he shows others how to skillfully negotiate with lenders into settling for less to avoid costly foreclosure.
Oscar Morante holds a Bachelor of Architecture degree from Virginia Tech. Oscar recalls his early passion for buildings and ships and knew he really wanted to be an architect after a brief attempt at pursuing Economics at the impressionable age of sixteen. His early beginnings provided him with unique opportunities to visit and live abroad. His father, a Peruvian Navy Captain, moved his family from the United States to Tokyo, Japan when Oscar was eight years old. While living there, he noticed the architecture; perhaps he made mental notes which would later influence his architectural sensibilities.
When he was age ten, his family moved to Lima, Peru where Oscar would spend the next 10 years discovering himself. In Lima, he pursued his love for the outdoors and adventure. He climbed Macchu Picchu, and immersed himself in Peruvian culture. Today, 20 years later, he still speaks with a Peruvian accent. Oscar says of himself, "I am always trying to get better. I am never tired of making changes. Of course, I want to minimize the things that I do that cause me to have regrets. I don't want to have regrets for not having done something, for not taking a chance, for not making a change."
Oscar is familiar with making changes, whether it is life changes, or career changes; Oscar always seeks to discover something new about himself in the process of adapting to the changes he has made. After graduating from Virginia Tech, Oscar moved to Seattle, Washington. One of his brothers lived there and he decided that, yes, a change of scenery would be good. He quickly found a position as an entry-level architect in a local firm and set out to do what he loved to do. He discovered, despite the long and arduous hours that he worked for the firm, that the county, or the city, presented obstacles for him that sometimes could not be overcome. He contemplated seriously whether or not his ideal of architecture and design would ever fit into the reality of work.
After months of frustration, Oscar decided to make a change. He decided to become a River Guide. He moved to Costa Rica and became certified to lead both Class 3 and Class 4 rivers. He guided tours on average 300 river days, covering the Pacuare and Reventazon River in Costa Rica and the Arkansas River and Royal Gorge, the Cheat River and Wenatchee River in the United States. Oscar loved the thrill and adventure that river guiding provided.
Oscar, always philosophizing, likened the river to life. With its bends and currents, one still needed to plan ahead. A year away from the office and far from the field of Architecture, Oscar realized, he needed to plan for the future. River guiding was a wonderful experience; he had no regrets, yet he was busy making other plans. Today Oscar is still an avid outdoorsman. He skis just about every winter and spring weekend. In the summer, he and his wife Mishelle, enjoy climbing in the Cascade Mountains of Oregon and Washington. At least once a year they travel to another country.
In the late 1990's Oscar moved to Portland and established a stable of clients as a freelance architect and practiced his trade in Oregon and Washington. He later got married and decided to explore real estate. This was not, he explained, a far departure from Architecture. In the midst of his research into the world of real estate investing, he joined several real estate associations and began networking. He learned a great deal about creative financing, how to talk to clients, how to look for real estate deals, and before long, Oscar began combining his knowledge and zest for yet another adventure.
Ever since he started in real estate, Oscar's focus has been in the pre-foreclosure market. When he started in 2003, there was plenty of business. Then, at the peak of the real estate bubble, there were fewer deals but were easier to flip. Now, at the end of 2008, when this bio was last updated, and for the foreseeable future, the majority of the real estate market is distressed property. Because of this, Oscar decided to become a real estate agent as well. He believes that to succeed in real estate, a professional needs to have as many options as possible. For him, to be a licensed agent at the same time as an investor is a plus. According to him, "it is about either being an agent or an investor, it is about being effective, and act according to the situation"...the main thing is to provide win - win - win solutions to resolve a situation. Sometimes it is better to act as an investor, others to act as an agent..." Oscar adds that the distressed property and short sales business is about "earning well by helping others, not inheriting problems".
Oscar's has a saying:
"In real estate, the more you learn, the more you earn"
Oscar believes that real estate, to a large degree, is a knowledge business. That is why Oscar is always in a quest to learn more and be more capable. It is very important to be up-to-date with the skills needed to succeed in whatever the current market conditions are. For Oscar two things are needed to become good at something:
In addition to all of the above, it is very important to mention Oscar is not only extremely capable; he is very pleasant to work with. You will greatly enjoy doing business with him as client, investment partner or student of one of his courses. If you need to reach him contact at oscar@bestshortsales.com.
Advanced Real Estate Concepts, LLC was founded by Oscar Morante in 2004. The company's mission is to acquire over-mortgaged properties that have gone into pre-foreclosure by getting lenders to discount debt in order to mitigate risk of loss at auction. Oscar has developed proven techniques and strategies for success through short sales investing.
While continuing to develop his real estate business, Oscar is sharing his success with others through his educational seminars. Oscar's Short-Sales A-Z seminar was developed based on practical experience and dedication to solving problems.
Based on overwhelming demand, Oscar has developed Short Sales A-Z Online. This brand new class provides you with in depth knowledge and step-by-step instruction on how to perform profitable short sales. Now you will be able to learn the art and science of short sales from any time you want, and from the comfort of your home and office. Access to the online class will be any time you want for as many times as you need. You will learn immediately how to increase your earnings by applying this high demand expertise.
Details and an Exclusive Discount Offer Coming Soon!
Short Sales A-Z Online is for the serious foreclosure real estate professional. Among the main subjects of this seminar you will learn:
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Short Sales A-Z Online Video Course
Oscar can help out anyone across the country who wants to learn how to successfully execute a Short Sale.
Visit his Short Sale Website full of <a href=http://www.bestshortsales.com/>Short Sale Resources</a>
Oscar,
Warm greetings! I am writing to ask for permission to reprint the article: UNDERSTAND THE UNDERLYING CAUSES OF FORECLOSURE recently posted on church blessings.com. I was hoping to hand it to the families in our church that might benefit from it. I will indicate the source of the article if allowed to reprint it. I look forward to your response.
Warmly, Kevin Gushiken
Oscar,
Your seminar in short sale was great! I enjoyed it.
Thanks,
Roger Guo
Power Player 3
Good course on Friday ! thanks very much !
Cheers, Rob Wakefield
Investor and Real Estate Agent, San Diego, CA
Oscar,
I sincerely enjoyed the class this last Friday and learned quite a lot.
Looking forward to using the knowledge. Thank you so much.
-- Carolynn Patterson, Investsor, Los Angeles, Ca
Hello Oscar
Thank you so much. I really learned more than I imagined You were very informative, professional and entertaining. My team and I are much more encouraged to begin and complete a successful short sale. I will certainly keep you posted. Once again thank you for teaching us something of great business value.
Best Regards,
Lisa Amorim, Real Estate Broker, PLATINUM ESTATES, Burbank, Ca
Hi Oscar,
Thanks for the wonderful course in Tigard a couple weeks back. As we mentioned at the seminar, my partners and I are working on our first short sale.
-- Mario, Rick, and I all thank you very much for the great seminar!
Sean Pennington, Columbia First Mortgage, Inc., Vancouver, WA 98682
Dear Oscar,
Thank you so much for your short sale class. It was very informative and helpful. I look forward to seeing you in the future.
Jonathan Hirai, On Realty Home Loans, Sausalito, Ca
Hello Oscar,
Your class was amazing, I enjoyed it very much. It was extremely informative and eye opening...You have an incredible amount of knowledge in the short sale market. I think you are an incredible instructor. You made a very dry subject very interesting, most instructors can not accomplish that.
Congrats! Katherine
I just wanteed to drop a note to let you know that I truly enjoyed your insightful seminar. Now I feel very comfortable with the process of short sale and I plan on maintaining contact with you.
Jesse Rosette - Real Estate Agent
Oackland, Ca
Oscar,
Great course. Excellent application to real estate brokers and investors both. I liked the exchange of dialogue.
Scott Vorous - Real Estate Investor
Cour D'Alene, Idaho
Oscar did a great job and was very knowledgeable about the subject.
R Jay Ward - Real Estate Agent
Burley, Idaho
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