Denver Loan Mod Help: Why it is cheaper to short sale and rent versus getting a loan modification

Westminster CO - Many people are shocked that it is often cheaper to short sale and rent that staying in your home with a loan modification.

View my VIDEO BLOG atwww.youtube.com/watch?v=OMsVzufxdwg

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.

Get my Free, Step By Step Loan Modification Guide by clicking here.

Many homeowners bought homes for more than they are selling for today. A perfect example is a homeowner that paid $430,000 for a home, in 2006. His mortgage payment was around $3,228 (includes property tax and Insurance) a month. This same home is now selling for around $310,000!!

He stopped making his payments and started negotiating with the lender on a loan modification, and after 4 months they started the foreclosure. He finally received a "trial period" loan modification for 3 months, and they would postpone the foreclosure. After that 3 month trail period they would decide whether to provide a final loan modification approval and withdraw the foreclosure.

They wouldn’t drop the loan mod payments below $2,570 a month, during this trial period. The homeowner located a few rentals (similar to his owned home) they can rent for around $1650-$1,800 a month.

Today, someone can buy that house for $310,000 and rent it for $1,800 a month without losing money. Far below what the loan modification payments would be. That is what makes it cheaper to rent versus getting a loan modification and staying in your home.

PLUS, they would tack on $30,000 on the back end of their home loan for the missed payments and loan mod payments shortage of the original note.

When prices were rising it was actually more expensive to own versus rent. But, folks were buying homes for the purpose of appreciation and speculation (wrong reasons), so offers were coming in high to buy!!

House prices have dropped considerably since then. Yes, rents are not at an all time high! Rents did drop during the early economic crisis and have since been making a come back. But, still not equal to the monthly home loan payments prior to the last year!!

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 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. Send me an e-mail at denverloanmodhelp@gmail.com to request a Free Copy.

Or, click here to request a copy.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at denverloanmodhelp@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.

Thanks for reading this, Dan Hopper.

Dan is a Realtor located in Westminster, CO., specializing in Denver loan modification and short sales:

Phone: 303-521-0984. denverloanmodhelp@gmail.com.


View My homes for sale at www.danhopper.com.

Dan Hopper specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor. Denver CO Loan Modification Help, Denver CO Short Sales. Denver CO Short Sale Realtor. Westminster CO Short Sales. Westminster Realtor.

For related blogs / video blogs, click on the links, below!!

http://denverstopforeclosureblog.com/?p=713

http://denverloanmodhelp.com/?p=149

http://denverstopforeclosureblog.com/?p=375

View my VIDEO BLOG atwww.youtube.com/user/denverloanmodhelp

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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 Denver Loan Mod Help: Why it is cheaper to short sale and rent versus getting a loan modification is provided as a courtesy to our viewers to help them make informed decisions.