Take These Steps Before You Strategically Default In Westminster

Westminster CO – Yesterday, we told you about a new program that Fair Isaac, the founder of the FICO score, came out with to tracks strategic defaults.

View My VIDEO BLOG at www.youtube.com/watch?v=reHDruB0udw.

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

If you are thinking about a strategic default, then you must be aware of this. FICO claims to be able to notify a lender when someone has strategically defaulted, or looks ready to strategically default.
This helps lenders implement additional collection procedures to get you to repay their loss.

I spoke with an expert in the industry. I wanted to know how he thinks they find the strategic defaulters.
“I think the biggest thing they look for is someone who is paying everything on time. This person has never been late on anything. All of a sudden they just stop paying their mortgage.

There were no other signs of financial problems. That looks pretty fishy to a lender. They probably get angry when they see they still paying their credit cards. The banks think that they are more important than a credit card”, this expert told us.

“You have to think like a banker to understand what is going on”, he continued. “Most people that default have followed a similar pattern. First, they get high debt to income ratios. Then, they default on their credit cards.

After that, they might miss a payment on their car or home loan. But, then they catch back up on the car or home loan. Finally, they default on their home loan and maybe even a car loan.

As you can see, they have followed a pattern that is similar to the average person who defaults. Now, let’s contrast that with your typical strategic defaulter.

This person’s debt to income ratio is usually lower. They don’t default on any credit cards or car loans. All of a sudden they stop paying their mortgage. Can you see how much different these two people look?

Now do you understand how obvious most strategic defaulters look? If you are planning a strategic default, then make it look as much as possible like you are just another “Average Joe” that is suffering from a loss in income.

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 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 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, Dan Hopper.

View My VIDEO BLOG at www.youtube.com/watch?v=reHDruB0udw.

Dan is a Real Estate Agent at Remax Alliance. Westminster Short Sales Realtor:
Phone: 303-521-0984. denverforeclosureblog@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. Arvada CO Loan Modification Help, Arvada CO Short Sales. Arvada CO Short Sale Realtor. Westminster CO Short Sales. Westminster Realtor.

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

Important Notice

Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.

If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Take These Steps Before You Strategically Default In Westminster is provided as a courtesy to our viewers to help them make informed decisions.

Westminster Short Sales: More Ways To Tell That A Debt Collector Is Breaking The Law

Westminster CO – Debt collectors are very creative in their attempts to convince debtors to pay.

Fortunately we have the law protecting us called the Fair Debt Collection Practices Act

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

I don’t know what happened before the law was passed. But, after reading thru the law, you can see it was pretty bad.

It sounds like debt collectors would call late at night, threaten debtors with violence, use profane language, and do anything else they could think of to harass debtors into paying.

Fortunately the law says that they are not allowed to call before 8AM or after 9PM. In addition, they are not allowed to threaten you with violence or tell other people about your alleged debt.

But, the biggest violation that I see is when they call you after you ask them to stop calling. This is actually a violation (although you wouldn’t think that when you hear about how many debt collectors still call after you ask them to stop.)

There are also violations that come into play because the Fair Credit Reporting Act. For example, if you request a written validation of the debt, then they have to stop all collection activities until they have sent you written verification of the debt.

If you are being harassed by debt collectors, then remember that the law is on your side. Research your options and go on the offensive.

You can get the debt collectors to back off and can often even get paid for anytime they have violated the law. (Don’t kid yourself, it happens more often than you think.)

If you want a list of 12 common violations and instructions on how to stop the calls, then click here and scroll down to the Right. Click on How To Stop Harassing Debt Collector Calls.

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 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, Dan Hopper.

Dan is a Real Estate Agent at Remax Alliance. Westminster Short Sales Realtor:
Phone: 303-521-0984. denverforeclosureblog@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. Arvada CO Loan Modification Help, Arvada CO Short Sales. Arvada CO Short Sale Realtor. Westminster CO Short Sales. Westminster Realtor.

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

Important Notice

Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.

If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Westminster Short Sales: More Ways To Tell That A Debt Collector Is Breaking The Law is provided as a courtesy to our viewers to help them make informed decisions.

Westminster Short Sales: Another Way To Tell That A Debt Collector Is Breaking The Law

Westminster CO – I’ve heard of debt collectors contacting people’s family and relatives trying to reach them for “an important business matter.”

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

When they tell the relative their business name, then it becomes obvious what is happening. They do this as an attempt to embarrass a debtor into paying them.

Here is what most debtors do not know. This is actually a violation of a Federal Law called The Fair Debt Collection Practices Act, provided the debt collector has your information already.

I have seen this happen in many situations. Someone gets a call from a debt collector. A few days later that same person calls their relative and says they can’t reach the debtor.

They are not allowed to do that because they already have your information. If this happens to you, then document everything. Then, call that company and ask for the manager or company owner.
You have several options available to you at this point. You can use this violation to negotiate for a much lower payoff on the debt. In some instances you can convince them to forgive the debt over the violation.

If they don’t want to negotiate with you, then contact a debt collection lawyer. Just Google “Fair Debt Collections Lawyer” for help. Many of them will help you for no cost. They only get paid if they collect from the debt collection company.

Don’t kid yourself, this is real. I know for a fact that debt collection companies are scared of being sued. In fact, they have systems in place that flag debtors that have sued another company.
They may choose not to attempt to collect from that debtor, because they think there is a high likelihood of being sued themselves. In my opinion, most debt collectors break the Fair Debt Collection Practices Act all the time.

I used to think that debt collectors didn’t break the law. Because of the stories I have heard from Stop Foreclosure Institute Customers, I now believe otherwise.

If you want a list of 12 common violations and instructions on how to stop the calls, then click here and scroll down to the Right. Click on How To Stop Harassing Debt Collector Calls.

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 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, Dan Hopper.

Dan is a Real Estate Agent at Remax Alliance. Westminster Short Sales Realtor:
Phone: 303-521-0984. denverforeclosureblog@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. Arvada CO Loan Modification Help, Arvada CO Short Sales. Arvada CO Short Sale Realtor. Westminster CO Short Sales. Westminster Realtor.

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

Important Notice
Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.

If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Westminster Short Sales: Another Way To Tell That A Debt Collector Is Breaking The Law is provided as a courtesy to our viewers to help them make informed decisions.

Westminster Short Sales: Is this debt collector breaking federal law?

Westminster CO – I’ve seen lots people use illegal debt collection techniques to collect on unpaid bills or credit cards.

For example, there are Federal Laws that regulate what a debt collector can do or say.
They aren’t allowed to threaten to sue you, but then not follow thru and actually file suit. To get around this rule, they will use language that sounds legal, but isn’t.

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

In one situation, a debt collector in Buffalo, New York named their firm Hoffman, Weinberg, and O’Brien to make it sound like they were a law firm.

They would then leave a message every couple of days on a person’s phone. They would say they were with the office of Hoffman, Weinberg, and O’Brien and then say they may resort to future legal action.

In addition, they would reference case number 8306042. If you didn’t know any better, you would think the case number was for your actual lawsuit. Scary, right?

Most people don’t know it, but that is a violation of a Federal Law called The Fair Debt Collection Practices Act.

This is just one example of illegal debt collection activity that happens all the time. The reason the debt collectors are able to get away with it is because most people don’t know the law.

If you want a list of 12 common violations and instructions on how to stop the calls, then click here and scroll down to the Right. Click on How To Stop Harassing Debt Collector Calls.

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 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, Dan Hopper.

Dan is a Real Estate Agent at Remax Alliance. Westminster Short Sales Realtor:
Phone: 303-521-0984. denverforeclosureblog@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. Arvada CO Loan Modification Help, Arvada CO Short Sales. Arvada CO Short Sale Realtor. Westminster CO Short Sales. Westminster Realtor.

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

Important Notice

Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.
If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Westminster Short Sales: Is this debt collector breaking federal law? is provided as a courtesy to our viewers to help them make informed decisions.

Westminster Short Sale Question: What Do I Owe You If The Short Sales Isn't Successful?

Westminster CO – The Stop Foreclosure Institute recently received this question from Tamra. Here is Tamra’s Question.

View My VIDEO BLOG at www.youtube.com/watch?v=DyMOzZDKgZQ.

“I would like to hire you to help me short sale my house. However, I am concerned that if the short sale doesn’t go thru, then I will still owe you money. My friend told me to check on that before I started. Is it true that I would owe you money if the short sale didn’t go thru? Tamra.”

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

Here is the answer to Tamra’s question. 

Tamra, No, you will not have to pay anything if the short sale doesn’t go thru. We only get paid when the short sale is approved and the home sells.
Until then, there is no cost to you. In addition, all the short sales we have sold don’t require the seller to pay anything.
What usually happens is that we send your lender a sample closing statement. It has all the costs itemized including our commission.
If your lender is ok with the numbers, then they approve the short sale. If not, then they tell us what needs to be changed.
It is a back and forth process until we come to an agreement. The bottom line is that a short sale will not cost you anything.
The only time you would be paying money is if your lender demands a promissory note, or you live in a state where they have the right to collect after a short sale or foreclosure.
However, even in those states in most cases we are able to negotiate a complete release on the debt. 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 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, Dan Hopper.

Dan is a Real Estate Agent at Remax Alliance. Westminster Short Sales Realtor:
Phone: 303-521-0984. denverforeclosureblog@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. Arvada CO Loan Modification Help, Arvada CO Short Sales. Arvada CO Short Sale Realtor. , Westminster Short Sale Realtor. Westminster CO Short Sales. Westminster Realtor.
Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.
If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser 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 Westminster Short Sale Question: What Do I Owe You If The Short Sales Isn’t Successful? is provided as a courtesy to our viewers to help them make informed decisions.