Short Sale Power Hour

Group 46:10 will be taking a vacation from their show to go on the path to Italy for a small bit of rest and relaxation. However, there are many quality episodes coming up. So, stay tuned to the week of information and instruction.

Today is about a subject that comes up quite often but is very often misunderstood. Kevin and Fred do not teach about it as much as they could, but that is just because they do not want to give it an credibility. The theme is bank counter offers.

Short Sale Power Hour

Everybody’s preferred day on the Short Sale Power Hour is F’ed up Friday. It gives the boys at Group 4610 the chance to reveal an unforgettable moment in their short sale careers that may or may not be a learning experience for the rest of you.

This week, Fred takes us back to a time when he was putting a short sale together with Ray at EMC Mortgage. Fred and Ray were working on file that was perfect. By flawless folder, we are referring to the proposal and the BPO were the exact same quantity. Both were priced at $315,000. Fred knew the offer and he knew the BPO because he did his research. Ray accepted the agreement. Nevertheless, he said that EMC would only pay 5 percent commission since it was a luxury house.

Short Sale Shift

Every once in a while, we want to voice our frustrations to maintain our sanity in the difficult short sale business. It also helps us keep fueling the fire to fight the banks because certain days are more difficult than others.

We don’t loathe Wells Fargo. Nonetheless, they are failing us today. The loan that we are having troubles with is an FHA loan. So, that might be part of the problem holding things up. We will have to escalate with this folder. Here is the account.

Short Sale Power Hour

Kevin Kauffman is united for forgettable Friday by the forever dapper, Coach Collard. We’ve got a small scenario to share with you today about a listing that Fred and Kevin took in November of 2008.

So, a year and a half ago, Kevin and Fred took a listing in the Scottsdale, AZ area listed at $330,000. That is what the property was worth in November of 2008. Remember that the market was still plunging progressively at that time. They received an offer at $330,000 and took it to lender. Utilizing the same short sale practice, they kept getting rejected. There was a disagreement on the value of the house and were repetitively rejected through January of 2009.

Are you falling behind on your mortgage and desire to avoid foreclosure through a mortgage short sale? The five steps below to execute a mortgage short sale.

The foundation of a mortgage short sale in Gilbert, Arizona is as follows…a mortgage short sale is when you come across a buyer for your house and the bank agrees to take the offer even though it will not pay off the mortgage entirely. In the mortgage short sale method, the bank forgives the rest of the mortgage balance. Step 1:Begin the mortgage short sale in one of two ways.

A Lis Pendens has been filed on the house (NY). An investor ‘s short sale proposal was rejected. The lender is taking forever to get back to me to set up a meeting where we can talk about DIL. It doesn’t look as if I can raise enough privately to avoid foreclosure although I am still working on this as an option.
I heard that Chapter 13 bankruptcy was a common way to delay the foreclosure sale. I will try for pro bono legal advice locally but just for preliminary considerations, anyone got any thoughts (keep it simple please) on which is worse? .