Why Westminster Short Sales with 3 or more mortgages are difficult

Westminster CO – Are you looking to buy a short sale? Before you make an offer, you need to check and see how many mortgages are on the home.

A short sale with only one mortgage is not that difficult. Even an inexperienced agent can often get these approved and sold.

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

A short sale with 2 loans becomes much more difficult. You now have two lenders that have to agree with each other. However, an experienced short sale agent can get the two lenders to agree with each other on the short sale.

However, when you have 3 or more loans and/or liens, everything just becomes way more complicated. Most first mortgages will only give $2,500 to $3,000 a second mortgage on a short sale.

They don’t have any policies in place on what to give a third position mortgage or lien. And that third position lien holder isn’t going to go away for free. Someone is going to have to give them something in return for them releasing their lien.

That third position lender basically has the right to throw a wrench in the works unless they get paid. They can veto the short sale for any reason. They will only go away when they are either paid in full or accept a lower amount.

This is what makes short sales with 3 or more loans so difficult. The first mortgage, second mortgage, and third position lien fight over the available money.

At the end, the first mortgage usually forecloses on the property and the second and third position people get nothing. But, a foreclosure takes a long time and costs money.

At the end of the day, everyone ends up losing more than they would have made if they had simply worked together. This is why we usually avoid short sales with 3 or more mortgages/liens in place.

Thinking about a loan modification?Our Westminster loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at denverforeclosureblog@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 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 303-430-6726

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 Real Estate Agent at Remax Alliance. Westminster Short Sales Realtor:

Phone: 303-430-6726. 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 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 Why Westminster Short Sales with 3 or more mortgages are difficult is provided as a courtesy to our viewers to help them make informed decisions.

Westminster Short Sales: There Is A Surprise Lien On The Short Sale

Westminster CO – The Stop Foreclosure Institute recently received a question from James. Here is his question.

View My VIDEO blog at www.youtube.com/watch?v=4ByGQs6E0Kw.

“Do you have any suggestions on a surprise lien from a Water Softener company? We were able to get Bank of America to approve the short sale without paying the lien. It could take another 60 days for Bank of America to agree to pay the lien.

The buyers don’t want to wait that long. Is there anything we can do? James.”

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

Here is one answer to James’s Question.


Option #1: Yes, you can take the appropriate steps to get this lien satisfied in order for this water softener company to release the lien for the purpose of transferring the title of the property to a new buyer. The best way to do this is by negotiating with the water softener company or collection company that may hold this responsibility to collect the debt. In most cases, we have been able to get this lien debt reduced by 50-80% for the release of the lien.

If the bank refuses to allow this debt to be paid by the borrower (seller), we have made it a condition for the buyer to pay this as part of their closing costs. Why would they do this? The buyer is getting a property for 25-40% below market, and coming up with a few thousand dollars more to obtain the deal is worth it.

Option #2: Many states have laws that allow a homeowner to remove liens if the property is their homestead. Not all states have this condition on a short sale situation.

For example, Florida has a law that enables the seller to file to release the lien thru homestead. I don't remember the exact legal name.

The seller files something and the lien automatically goes away in 45 days. The only reason it wouldn't go away is if the lien holder contests it.

An agent I know in Florida has used it against one of the best debt collection lawyers in the state. Ask your title company for help.

Option #3: Get BOA to agree to give them some money for it. Or, find a way to get it paid on the HUD. As you can see, both of these take time. (Buyer pays for it, example)

Option #4: Pay it out of pocket.

Option #5: You luck out and the lien doesn't attach. Check with your title company to see if this is the case. Oftentimes, they don't even legally attach. 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 303-430-6726

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=4ByGQs6E0Kw.

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: There Is A Surprise Lien On The Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Westminster Short Sales: Does Fannie Mae Pursue Deficiencies?

Westminster CO – The Stop Foreclosure Institute recently received a question from Steve. Here is his question.

“We are doing a short sale with one of the largest nationwide banks. I told them I wouldn’t do the short sale unless they specifically changed their short sale approval letter to completely release me from the deficiency.

The short sale negotiator told me that Fannie Mae would not allow them to release the deficiency. I read somewhere that Fannie Mae doesn’t pursue a homeowner after a short sale. I don’t know who to believe. What do you think? Steve.”

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

Here is the answer to Steve’s Question. Steve, in my opinion, you are being lied to by the people at the bank.

Fannie Mae and Freddie Mac do not pursue deficiencies unless the property is a short sale, or they determine that the owners are strategically defaulting. They just write off the loss and move on.

I don’t know how they determine if you are “strategically defaulting.” Unless you are one of those two, then the people at the bank are not telling you the truth.

In fact, we recently sold a Fannie Mae short sale and the short sale approval letter gave the seller a complete release.

In another situation, there is a large nationwide lender that has short sale approval letter that do not offer anyone a release.

This lender has written their approval letters so that is leaves the collection rights with the loan owner after the short sale. That way the loan owner can pursue if they decide to do so.
This lender is infamous for not changing the clause of their approval letter. We had a short sale with them. The loan was a Freddie Mac Loan.

We were able to convince them to change the approval letter because we all knew the investor wouldn’t pursue the home seller for a deficiency. So, go back and tell the lender about your new found knowledge.

If they still won’t budge, then threaten to contact Fannie Mae direct. 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: Does Fannie Mae Pursue Deficiencies? is provided as a courtesy to our viewers to help them make informed decisions.

Westminster Short Sales: The Wait To Buy Another Home After A Short Sale Was Recently Changed to 3 Years

Westminster CO – The Stop Foreclosure Institute recently received a question from Christina. Here is her question.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
“I just read your article Frequently Asked Questions about Short Sales. You mention that you can obtain another home loan two years after a short sale.
Who are these lenders and how can I contact them? I have been looking but so far no luck. Everyone is insisting we must wait three years. I’d appreciate any information you can provide. Christina.”
We just heard back from our mortgage broker on this issue. Fannie Mae recently changed their guidelines for a loan after a short sale.
(Since most lenders and loan programs follow Fannie Mae’s Guidelines, that means that almost every single lender changed their policies as well.)
When we wrote the article their guidelines had said that you had to wait two years after a short sale. Now those guidelines have been changed to 3 years.
The good news is that you can still buy a house after a short sale. Life does go on and will go back to normal. No matter how bad things may seem, they will get better.
Before you know it the 3 years will pass and you can buy another home. The housing market is still flat and will probably be flat over the next 3 years.
So you will be able to buy the next house for substantially less than what you paid for your current home. 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 Broker 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 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 Sales: The Wait To Buy Another Home After A Short Sale Was Recently Changed to 3 Years is provided as a courtesy to our viewers to help them make informed decisions.

Westminster Short Sales: A Common Myth On Escalating A Short Sale File

Westminster CO – We see a lot of agent's going about escalating a file the wrong way. It reminds me of the appeals process game in death row.

Everyone has to go thru the appeals process. It drags on for years and years. After a while it simply becomes a game. I don't want to see short sale escalation turn into a "game."

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

Treat the Short Sale Escalation Process like a sales process. Don't treat it like just another technical process that you do for no reason.

Don't just escalate the file "because you felt like it." The reason you escalate a file is because the lender is making a bad decision turning down the offer.

You feel, based on your superior knowledge of the property and the local housing market, that they will lose more money thru foreclosure.

And you are moving the file up the chain to make sure they don't lose even more money. When you escalate a file, make sure you tell everyone that they are going to lose money if they don't accept the offer.

Tell them, "Based on my projections, you will net 180k with this offer and 163k after foreclosure." Give them documentation to back that up.

Here are a few examples of documentation we send to them.

1. Comparable Sales.

2. Other similar homes for sale that are competing for the same buyers.

3. Active, competing bank owned comps.

4. Other bank owned sales that were rejected as short sales and the lenders lost money as a result.

5. MLS History.

6. Bank owned comps that may not have been allowed in the Property Valuation or appraisal.

This documentation is designed to help your case. It will help convince them that you are escalating a file for a legitimate reason. It's not just a game to you. 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 danhopper@comcast.net. 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 303-430-6726

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: 303-430-6726. danhopper@comcast.net.



View My homes for sale at .

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 Hopper's personal views and do not reflect the views of Remax Alliance.

This information on Westminster Short Sales: A Common Myth On Escalating A Short Sale File is provided as a courtesy to our viewers to help them make informed decisions.

Westminster Short Sales: The Lender Won't Approve The Short Sale. Now What?

Westminster CO – If you are doing short sales, then you must learn how to escalate a file. Here's why.

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

 View My Blog Video at http://goo.gl/d8xEw.

What do you do when the house isn't selling for any more money, but the bank keeps on rejecting the offers? You can give up, but then the seller loses the house to foreclosure.

Ouch! Why not escalate the file and get it approved? Here's an example of how it worked for the Stop Foreclosure Institute.

We had a house on the market for 4 months. We started the price at 200k and slowly brought it down to $169,900. We finally got an offer for $159,000.

The lender thought the house was worth $195,000. We knew that they wouldn't accept the offer because it was less than their value.

We knew this investor's guidelines and that the current offer at $159,000 didn't have a shot at getting accepted.

In order to get this file approved, we had two things to do.

1. Convince the lender to get a new, more accurate valuation.

2. Escalate the file.

To handle Part 1, we sent the short sale negotiator our own Comparable Market Analysis. We included the Pending homes for sale and the Competing homes for sale.

We explained that their valuation was inaccurate and that they need to order another one. (If your data is good, then most of the time they will order a new valuation.)

Then, we asked for their supervisor's contact info. (Remember, most short sale communications are thru e-mail.)

Two-thirds of the time they will e-mail back the supervisor's info. The other one-third of the time they will just start doing a better job on the file. Either way we have accomplished our goal.

In this case they started doing a much better job on the file. The negotiator ordered a new valuation.

If the new valuation comes back within range, then they will approve the file and we can close. On the subject house, the new valuation came back with the proper value.

We received a short sale approval and closed the sale a month later.

Now, there are a few problems you may run into trying to escalate a file. Sometimes the negotiator won't give you their supervisor's.

And they still won't order a new valuation or help you out. So, you're at a dead end. Here is how to get their supervisor's info.

Call the normal short sale 800 number at the lender. Tell the person answering that you are working on a file with X negotiator and you need to talk to that person's supervisor.

Say something like, "We've talked to the buyers. They will not raise their offer. We've had this house listed for 94 days and this is the best offer we've received. The buyers asked me to call and plead their case."

Most of the time, they will give you that person's name and e-mail address. Always ask for the fax and phone number as well. Most of the time you won't get that, but sometimes you can.

Before I escalated a file, we were was scared to do it. What if the negotiator got mad at us? This held us back.

The reality is that the negotiators don't get mad at all. If you're at a logjam with a file, and you have a good case on why they should accept the offer, then do the logical thing and escalate the file. 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 Broker at Remax Alliance. Westminster Short Sales Realtor:

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

View My Blog Video at http://goo.gl/d8xEw.

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 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 Sales: The Lender Won't Approve The Short Sale. Now What? is provided as a courtesy to our viewers to help them make informed decisions.

Westminster Short Sales: Why Do Some People Worship Perfect Credit?

Westminster CO – It always amazes me how some people will do anything to have perfect credit. They would rather go hungry than risk harming their prefect credit rating.

A good example is a guy I will call Seth. Seth has perfect credit. He has worked to keep perfect credit for the last 12 years.

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

Seth has a several credit cards with high balances. He ran the balances up when the economy was strong.

Today, he can barely afford to make the minimum monthly payments. However, Seth was recently turned for a car loan, despite his perfect credit. Why did that happen?

I thought that perfect credit guaranteed that you could get a loan! Well, it turns out that Seth has too much debt.

Most banks won’t lender to someone with a high Debt to Income Ratio (DTI.)They calculate that number by adding up all the bills that you pay each month.

They use these ratios to determine if you have enough money to pay them each month. Seth can barely afford to pay the minimum monthly payments on his credit card debt.

If he pays them, then he can’t afford a car payment. His family needs a car more than they need perfect credit.

In my opinion, he should stop paying the credit cards. He should use the income he does have to take care of his family.

Having a car is more important than perfect credit. If they don’t have a car, then it will disrupt his work. If that happens, then his income could drop even more.

Then he won’t be able to afford the credit card payments anyways. Besides, there are ways he can repair his credit later on, after the economy has recovered.

At least he will be able to afford living expenses in the meantime. 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 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 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 Hopper's personal views and do not reflect the views of Remax Alliance.

This information on Westminster Short Sales: Why Do Some People Worship Perfect Credit? is provided as a courtesy to our viewers to help them make informed decisions.