Denver CO – Is it important to "escalate" a file with the lender to get the appropriate attention to accomplish a short sale approval? Here is an example of a recent file with one of the larger banks.Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Our listing had been on the market for over 7 months. This property had been in a Chapter 7 Bankruptcy over 3 years ago. Once, it had become behind in payments, in default, the lender has the right to request it be removed from the bankruptcy courts and foreclose on it.
Keep in mind, that the lender has NO recourse against the homeowner since it was in a bankruptcy court.
We had received 2 previous offers on the property that were below $260,000. It was listed at $275,000, and the lender had a BPO of $300,000. SO, needless to say, they would not take the previous offers with many discussions.
In the meantime, we had a new offer come in at $256,000, since all the other buyers had walked on the process.
In order to get this file thru, we had two things to do.
1. Escalate the file.
2. The lender's management reluctantly ordered a NEW BPO! WHY??
To handle Part 2, we sent our own version of a BPO to the lender. We explain to them why we did not think the BPO was accurate and reflected the true market value of this area!
Then, we asked for their supervisor's contact info. After, providing the appropriate data to support the need for a new BPO, they ordered it and it came back at $248,000!!
So, needless to say, the lender accepted the offer that came in at $256,000, within a WEEK! We closed on it in less than 30 days.
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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http://denverloanmodhelp.com/?p=301
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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: Example of Escalating A Denver Short Sale File, is provided as a courtesy to our viewers to help them make informed decisions.
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