Ft. Lauderdale FL – The Stop Foreclosure Institute recently received a question from John. Here is John’s Question.

“I am trying to buy a short sale. I have been waiting on an answer to my offer for 6 months. The agent tells me we should have an answer any day.

But, they’ve been saying that for a long time already. What should I do? John.”

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

John, I think you should run for the hills. We see a lot of agents quote 6-8 months for a short sale response. Those agents simply don’t know what they are talking about.

We have processed short sales with the most difficult lenders in an average of 2-3 months. The key is aggressive follow up. You have to check on the status of the file twice a week.

The reason a short sale would take 6-8 months on average is because the agent isn’t doing that. If it takes more than a week to get a response to a question or call, then we contact the CEO of the lender and the local newspapers.

It has taken a week to get a response to a simple question. We had a short sale negotiator that we had been working with on a file. We had already talked back and forth several times.

He told us that he was waiting on 1 item and then he could make a decision on the short sale. That item was going to be completed in 3-4 days.

We waited a week and then started calling him. I would call and e-mail him once each day. We still hadn’t heard from him after a week of e-mailing and leaving messages.

We think that is pathetic and incompetent. Don’t you agree? It shouldn’t take a professional more than a week to respond to a voicemail, should it?

At that point we contacted the CEO’s office. We told them that if we didn’t have a response in 24 hours, then we would contact Fannie Mae. (Fannie Mae owned the loan.)

Needless to say, he got back to us right away. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Rita@ClearHomesTeam.com. 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 954-938-7478

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ft. Lauderdale 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, Rita Meagher.

Rita is a real estate broker at The ClearHomes Team, KW Realty.

Phone: 954-938-7478. Rita@ClearHomesTeam.com.

Rita Meagher specializes in loan modification assistance and short sales in Ft. Lauderdale. Ft. Lauderdale Loan Modification Help, Ft. Lauderdale Short Sales. Ft. Lauderdale Short Sale Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Rita Meagher, The ClearHomes Team, KW Realty, 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 Rita’s personal views and do not reflect the views of The ClearHomes Team, KW Realty.

This information on Ft. Lauderdale Short Sales: Do Short Sales Really Take 6-8 Months? is provided as a courtesy to our viewers to help them make informed decisions.

Ft. Lauderdale FL – The Stop Foreclosure recently received a question from Georgia E. Here was her question.
” When the bank says the file should be going to an investor soon what does that mean?” Georgia E.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here is the answer. It means that whoever ultimately owns the loan will make the decision. For example, you might be negotiating the short sale with Wells Fargo.

However Wells Fargo may not own the loan. (Around 80% of all the loans they service are owned by someone else.) Wells Fargo will take all of the short sale documentation and send it to the actual loan owner.
(The actual loan owner could be anyone from Fannie Mae, Freddie Mac, Goldman Sachs, a Pension Fund, or another Wall Street Entity.)

That loan owner will review the short sale file themselves. Then, they will either approve the short sale or deny it. If they deny it, then they will usually let you know why.

Then you can find out the reason they denied the short sale and re-apply. Often they want more money for the house, a missing document, of some other item.

It is a popular misconception that banks own all the loans they handle. Little do most people know that most loans have been sold to a third party.

Many experts agree that this was actually a good thing because it spread the losses across a lot of different people in the economy.

If all the losses has been with 3-4 large banks, then those banks would have experienced crippling losses. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Rita@ClearHomesTeam.com. 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 954-938-7478

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ft. Lauderdale 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, Rita Meagher.

Rita is a real estate broker at The ClearHomes Team, KW Realty.

Phone: 954-938-7478. Rita@ClearHomesTeam.com.

Rita Meagher specializes in loan modification assistance and short sales in Ft. Lauderdale. Ft. Lauderdale Loan Modification Help, Ft. Lauderdale Short Sales. Ft. Lauderdale Short Sale Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Rita Meagher, The ClearHomes Team, KW Realty, 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 Rita’s personal views and do not reflect the views of The ClearHomes Team, KW Realty.

This information on Ft. Lauderdale Short Sales: What Does I Mean When The Bank Says File Is Going To Investor Soon? is provided as a courtesy to our viewers to help them make informed decisions.

Ft. Lauderdale FL – The Stop Foreclosure Institute recently received a question from Paul. Here is Paul’s Question.

“I am selling my house as a short sale. I am behind on the mortgage payments. Do you think I should still pay my credit cards?” Paul.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here is our answer. I all depends on what is important to you. Can you afford your mortgage payment if you stopped paying the credit cards?

If the answer is yes and you don’t want to move, then I would recommend that you stop paying the credit cards. Obviously that will hurt your credit.

But, if you want to keep your home, then you will probably think it is worth it. Then again, I have seen people who would rather have the good credit.

However, if you do want to move, then it would be better to keep paying the cards and short selling the house.

Missed mortgage payments won’t have to much of an impact on your credit score 12-18 months down the road, especially if you short sale.

However, a credit card that you never pay on again will stay on your credit for a longer time. The debt will show up as written off and that impacts your credit for a longer time than missed payments.
Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Rita@ClearHomesTeam.com. 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 954-938-7478

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ft. Lauderdale 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, Rita Meagher.

Rita is a real estate broker at The ClearHomes Team, KW Realty.

Phone: 954-938-7478. Rita@ClearHomesTeam.com.

Rita Meagher specializes in loan modification assistance and short sales in Ft. Lauderdale. Ft. Lauderdale Loan Modification Help, Ft. Lauderdale Short Sales. Ft. Lauderdale Short Sale Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Rita Meagher, The ClearHomes Team, KW Realty, 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 Rita’s personal views and do not reflect the views of The ClearHomes Team, KW Realty.

This information on Ft. Lauderdale Short Sales: Should I Continue Paying My Credit Cards During A Ft. Lauderdale Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Ft. Lauderdale FL – Sometimes it seems like short sales are tough. “Don’t try to short sale your house. Short Sales never go thru”, people tell you.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Rita@ClearHomesTeam.com. 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 954-938-7478

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ft. Lauderdale 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, Rita Meagher.

Rita is a real estate broker at The ClearHomes Team, KW Realty.

Phone: 954-938-7478. Rita@ClearHomesTeam.com.

Rita Meagher specializes in loan modification assistance and short sales in Ft. Lauderdale. Ft. Lauderdale Loan Modification Help, Ft. Lauderdale Short Sales. Ft. Lauderdale Short Sale Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Rita Meagher, The ClearHomes Team, KW Realty, 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 Rita’s personal views and do not reflect the views of The ClearHomes Team, KW Realty.

This information on Ft. Lauderdale Short Sales: How One Agent Overcame The Odds is provided as a courtesy to our viewers to help them make informed decisions.

Ft. Lauderdale FL – I have a good story today about another bank losing their shirt because their short sale process is so tough to work with.

The bank in question is a large, top 20 American Bank. They actually owned the loan in question. So their stockholders lost 50k from their negligence. Ouch!

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here is the story from a Stop Foreclosure Institute Member. “We met some buyers at an open house. They told us they were buying a house just down the street from one that we had for sale.

They had a contract to buy the house for $275,000. They knew the house was a short sale. They were getting frustrated because they had been waiting for the short sale to be approved.

They had already been waiting for several months with no answer. They mentioned something about 3 mortgages and the junior mortgages were hard to work with.

5-6 months later we noticed that the house was back on the market. They time the asking price was $229,900. It finally sold several months later for $229,000.

That means this bank lost $46,000 on the lower sales price. In addition, we estimate that the lender lost another $15,000 in lost interest income and property taxes.

That means this lender lost $50,000 to $60,000 because their short sale process was so hard to work with. To be honest, I would be kind of embarrassed if I was the CEO of that bank.

The other thing is that the short sale realtor in question was inexperienced. She had very little experience with short sales, which she openly admitted.

If that lender pushes for a deficiency judgment, that agnet’s lack of short sale experience could have cost those home sellers $50,000. Ouch!” Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Rita@ClearHomesTeam.com. 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 954-938-7478

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ft. Lauderdale 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, Rita Meagher.

Rita is a real estate broker at The ClearHomes Team, KW Realty.

Phone: 954-938-7478. Rita@ClearHomesTeam.com.

Rita Meagher specializes in loan modification assistance and short sales in Ft. Lauderdale. Ft. Lauderdale Loan Modification Help, Ft. Lauderdale Short Sales. Ft. Lauderdale Short Sale Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Rita Meagher, The ClearHomes Team, KW Realty, 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 Rita’s personal views and do not reflect the views of The ClearHomes Team, KW Realty.

This information on Ft. Lauderdale Short Sales: Lenders Loses 50k Turning Down Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Ft. Lauderdale FL – People often wonder why their lender will release their debt in a short sale. Most lenders don’t like to release the debt. But, they agree to do it because they know that policy nets them more money.

They net more because a home usually sells for more money as a short sale versus after it has been foreclosed upon. Let’s go thru a few examples.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

See the home in the picture below? You can see that it is good shape. Most short sales are being sold while the homeowner lives in the home.

The homeowners are able to keep the house up. They keep the inside clean and neat. In addition, they mow the lawn and keep up on the yard.

This makes a big difference in the sales price. Would you rather buy a home that is in great condition or one that needs work?

Now look at the home in the picture below. That is an abandoned home in foreclosure. No one is there to keep up on the yard.

The inside of the home is probably dirty. Vagrants can break into the home. The home is also an easy target for vandalism.

The bottom line is that most short sales are in better shape than a foreclosed home. In fact, they are usually in much better shape.

That is why they sell for more money, thereby cutting the lender’s losses. Thinking about a short sale?
I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Rita@ClearHomesTeam.com. 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 954-938-7478

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ft. Lauderdale 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, Rita Meagher.

Rita is a real estate broker at The ClearHomes Team, KW Realty.

Phone: 954-938-7478. Rita@ClearHomesTeam.com.

Rita Meagher specializes in loan modification assistance and short sales in Ft. Lauderdale. Ft. Lauderdale Loan Modification Help, Ft. Lauderdale Short Sales. Ft. Lauderdale Short Sale Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Rita Meagher, The ClearHomes Team, KW Realty, 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 Rita’s personal views and do not reflect the views of The ClearHomes Team, KW Realty.

This information on Why Ft. Lauderdale Short Sales Sell For A Higher Price Than A Ft. Lauderdale Foreclosure is provided as a courtesy to our viewers to help them make informed decisions.

Ft. Lauderdale FL – Many people are shocked that it is often cheaper to short sale and rent that staying in your home with a loan modification.

They find it hard to believe that they can rent a comparable or even nicer home for less than their mortgage. Here are the two factors that make it possible.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Many homeowners bought homes for more than they are selling for today. A perfect example is a homeowner that paid $150,000 for a home. His mortgage payment was around $1,500 a month.

He stopped paying his payments and moved to a rental. He found a nicer, larger home to rent for $850 a month. He had tried for months to convince his lender to modify his loan.

They wouldn’t drop the payments below $1,200 a month. Even though the home he is renting is nicer than his house, it is selling today for around $105,000.

Someone can buy that house for $105,000 and rent it for $850 a month without losing money. That is what makes it cheaper to rent versus getting a loan modification and staying in your home.

When prices were rising it was actually more expensive to own versus rent. But, everyone wanted to own because their house was supposed to go up in value.

House prices and rental prices have dropped since then. Yes, rents are not at an all time high! The dropped during the economic crisis and have come back up since then.

So, if you are thinking about a loan modification, then first check into the rental market. You will be able to negotiate your loan modification from a position of power.

That will make it more likely that you will get the reduced payment you need so you can keep your home. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Rita@ClearHomesTeam.com. 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 954-938-7478

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ft. Lauderdale 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, Rita Meagher.

Rita is a real estate broker at The ClearHomes Team, KW Realty.

Phone: 954-938-7478. Rita@ClearHomesTeam.com.

Rita Meagher specializes in loan modification assistance and short sales in Ft. Lauderdale. Ft. Lauderdale Loan Modification Help, Ft. Lauderdale Short Sales. Ft. Lauderdale Short Sale Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Rita Meagher, The ClearHomes Team, KW Realty, 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 Rita’s personal views and do not reflect the views of The ClearHomes Team, KW Realty.

This information on Ft. Lauderdale Short Sales: Why it is cheaper to short sale and rent versus staying is provided as a courtesy to our viewers to help them make informed decisions.

Ft. Lauderdale FL – Here is something that drives inexperienced short sale agents crazy. It is a HUD-1, also called a HUD. HUD is the Federal Agency, the Department of Housing & Urban Development, also called HUD.

A HUD-1 is a document regulated by HUD. It is the financial accounting for a real estate sale. Here is why it is important to a short sale.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Before a short sale lender will accept a short sale, they want to know what they will net from the sale. A HUD-1 breaks down all the projected closing costs so the lender can see their net.

Most agents are familiar with a HUD-1. They see them at the closing of every home they sell. But, seeing a HUD-1 at a closing is not the same as the familiarity you learn on short sales.

See, if you mess up on that HUD-1, then it puts the short sale transaction in jeopardy. The short sale lender will look at a projected HUD-1 and agree to accept a certain number.

If unexpected costs get added to the HUD-1, then that net goes down. (There are always unexpected costs on a short sale. I can tell you from personal experience.) Now, the agent has to go back and re-negotiate with the short sale lender. That can drag out the process another 60-90 days.

The buyer will usually get frustrated and cancel the contract. Then, the agent has to re-sell the house and start the process all over again.

This is what causes many agents to hate short sales. They didn’t take the HUD-1 seriously and had problems on a short sale. As a result, they think all short sales are impossible.

To truly be successful at short sales, the agent must understand HUD-1s inside and out. They need to make sure that every single projected expense is added to the HUD-1 at the beginning of the negotiations.
Adding them after you have negotiated isn’t going to work. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Rita@ClearHomesTeam.com. 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 954-938-7478

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ft. Lauderdale 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, Rita Meagher.

Rita is a real estate broker at The ClearHomes Team, KW Realty.

Phone: 954-938-7478. Rita@ClearHomesTeam.com.

Rita Meagher specializes in loan modification assistance and short sales in Ft. Lauderdale. Ft. Lauderdale Loan Modification Help, Ft. Lauderdale Short Sales. Ft. Lauderdale Short Sale Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Rita Meagher, The ClearHomes Team, KW Realty, 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 Rita’s personal views and do not reflect the views of The ClearHomes Team, KW Realty.

This information on Ft. Lauderdale Short Sales: What is a HUD-1 and why does it matter on a short sale? is provided as a courtesy to our viewers to help them make informed decisions.

Ft. Lauderdale FL – Some agents hate short sales. Why? Because they don’t understand them. So, don’t believe them when they tell you that short sales are impossible.

I will explain what causes their problems in today’s post.

There are two things you must understand if you are doing short sales. They are BPOs and HUD-1s. A BPO is what the short sale lender uses to determine the value of the property.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

BPO stands for “Broker’s Price Opinion.” They are what another real estate agent (Broker) thinks a property is worth.

Basically the agent gives their opinion of the value of the property. “I think it is worth 300k”, they put on the report. Lenders accept or reject short sale offers based on the BPO value.

If the agent has given a value of 300k, then a short sale lender will not accept a sales price of 250k. The problem is that, in my opinion, sometimes the values are inaccurate.

I have seen agents drive 50 miles away to evaluate a property. They go to a place where they do not sell real estate. As a result they are not familiar with the local marketplace.

Because of this I always try to meet the agent doing the BPO at the property. I explain the market value to them and tell them what is happening with the property.

I explain exactly why the property is selling for the sale price. I tell them what buyers have said about the property and why it isn’t selling for a higher price. This helps them to give an accurate value.

The lender gets an accurate value and is able to make a better decision on the short sale. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Rita@ClearHomesTeam.com. 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 954-938-7478

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ft. Lauderdale 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, Rita Meagher.

Rita is a real estate broker at The ClearHomes Team, KW Realty.

Phone: 954-938-7478. Rita@ClearHomesTeam.com.

Rita Meagher specializes in loan modification assistance and short sales in Ft. Lauderdale. Ft. Lauderdale Loan Modification Help, Ft. Lauderdale Short Sales. Ft. Lauderdale Short Sale Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Rita Meagher, The ClearHomes Team, KW Realty, 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 Rita’s personal views and do not reflect the views of The ClearHomes Team, KW Realty.

This information on Ft. Lauderdale Short Sales: What is a BPO and why does it matter on a short sale? is provided as a courtesy to our viewers to help them make informed decisions.

Ft. Lauderdale FL – According to the Philadelphia Inquirer [1], Patrick Rodgers of West Philadelphia was able to “file a foreclosure action against Wells Fargo.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

I bet there are a lot of homeowners facing foreclosure that would love to do the same thing. You work so hard to negotiate a reasonable loan modification in order to keep your home.

But, no one at the lender seems to care. It seems the big lenders are able to live in a protective bubble. They can foreclose on paid off homes and face no consequences.

If they average American did that, they would probably face jail time. So, it’s nice to finally see someone turn the tables on a lender.

Here is the story according to the Philadelphia Inquirer.

It’s not clear how this story will turn out, but right now Patrick Rodgers is living a pay-back fantasy probably shared by millions of struggling U.S. homeowners.

Frustrated by a dispute with Wells Fargo Home Mortgage and by his inability to get answers to questions, the West Philadelphia homeowner took the mortgage company to court last fall.

When Wells Fargo still didn’t respond, Rodgers got a $1,000 default judgment against it for failing to answer his formal questions, as required by a federal law called the Real Estate Settlement Procedures Act.
And when the mortgage company didn’t pay – does something sound familiar? – Rodgers turned to Philadelphia’s sheriff.

The result: At least for the moment, the contents of Wells Fargo Home Mortgage, 1341 N. Delaware Ave., are scheduled for sheriff’s sale on March 4 to satisfy the judgment and pay about $200 for court and sheriff’s costs.

Rodgers has even written his own headline: “Philadelphia homeowner ‘forecloses’ on Wells Fargo.”
Has he really? Not quite. But Rodgers, who lives in the city’s Wynnefield Heights section, won at least a momentary upper hand in a fight with Wells Fargo that began nearly two years ago.
Before you leap to conclusions, let’s get a few things straight.

Rodgers isn’t unemployed, or a deadbeat. He’s a music promoter who owns Dancing Ferret Concerts – if industrial, electronic, or goth is your sound, maybe you’ve been to one of his gigs. He says he’s paid all he owes under the terms of his seven-year-old mortgage.

And there’s no reason to think that Rodgers’ house is “underwater” – worth less than he owes, in banker jargon that has sadly entered Americans’ everyday lexicon.

Actually, it was the value of Rodgers’ home that apparently sparked the dispute – not what he paid, or what it would fetch if he wanted to move, but what it would cost to fully restore the house if, say, it was struck by a meteorite and burned to the ground.

Rodgers owns a three-story, six-bedroom Tudor on a beautiful street not far from City Avenue. He paid about $180,000 for it in 2002, and for years handled his mortgage without dispute.

But in mid-2009, his insurer delivered troubling news: His homeowners premium would more than double, because Wells Fargo was insisting that he insure the home’s full replacement value – about $1 million worth of coverage, the insurer told him.

Rodgers loves his home, neighborhood, and adopted city – he moved here about 17 years ago, after growing up as a child of American parents in the Bahamas.

But he knew that he paid a fraction of what his home would command elsewhere, such as across City Avenue in Bala Cynwyd. That’s one advantage of living, as he says, “a short clip away from the wrong side of the tracks.”

In such situations, most lenders require a homeowner to insure for a total approximating a home’s market value – a good thing for large swaths of Philadelphia, where a home’s market value may have little relation to what it would cost to rebuild stone by stone or feature by feature.

All in all, I think it’s a great story. I’m sure a lot of homeowners fantasize about doing the same thing. Thinking about a short sale?

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Rita@ClearHomesTeam.com. 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 954-938-7478

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Ft. Lauderdale 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, Rita Meagher.

Rita is a real estate broker at The ClearHomes Team, KW Realty.

Phone: 954-938-7478. Rita@ClearHomesTeam.com.

Rita Meagher specializes in loan modification assistance and short sales in Ft. Lauderdale. Ft. Lauderdale Loan Modification Help, Ft. Lauderdale Short Sales. Ft. Lauderdale Short Sale Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Rita Meagher, The ClearHomes Team, KW Realty, 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 Rita’s personal views and do not reflect the views of The ClearHomes Team, KW Realty.

This information on Ft. Lauderdale Short Sales: Homeowner Takes On Lender And Wins! is provided as a courtesy to our viewers to help them make informed decisions.