Westminster CO – The Stop Foreclosure Institute recently received a question from Tawny. Here is Tawny's Question. "I have not been late on any payments but my income will be changing dramatically towards the end of the summer. What is your exact service and what are the fees involved? I do not have any cash in savings and pretty much live paycheck to paycheck. Tawny."
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Here is the answer to Tawny's Question: A Short Sale doesn't cost the homeowner any money. All of the costs are paid for by the homeowner's lender.
Now, I'm sure you are asking, "The bank is losing money on the short sale. They wouldn't want to have to pay to sell the property."
Many people also think this. After all, it makes sense logically. But, it's actually not the case.
Banks have been lending money for centuries. They have learned from past experience that a short sale is a good way to cut their losses.
In fact, a recent study by the Boston Consulting Group, on a National average, actually showed that a short sale reduced a lender's losses by 20%, compared to a foreclosure.
After a lender forecloses on a property they put it up for sale. They have to hire and pay a real estate brokerage firm and all the other related costs.
Why not pay those costs on a short sale and cut their losses by 20%? It's a good business decision. And that's why a short sale doesn't cost the homeowner anything.
Your lender covers all the cost including the real estate agent, title fees, and other closing costs. Thi
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 denverforeclosureblog@gmail.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 303-521-0984
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification?Our Westminster loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Request your FREE copy, below!
Thanks for reading this, Dan Hopper.
View My homes for sale at www.danhopper.com.
Dan Hopper specializes in loan modification assistance and short sales in Denver, Colorado. Denver Loan Modification Help, Denver Short Sales. Denver Realtor. Westminster, CO Loan Modification Help, Westminster, CO Short Sales, and Westminster Realtor.
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Important Notice
Dan Hopper, Remax Alliance, 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 Dan Hopper's personal views and do not reflect the views of Remax Alliance.
This information on Stop Foreclosure: How Much Do You Charge For A Short Sale in Denver?, is provided as a courtesy to our viewers to help them make informed decisions.
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