Stop Forelcosure: Not All Short Sales Should Have Promissory Notes to Succeed!

Denver, CO – There are numerous stories of how the Seller of a short sale got stuck with a promissory note on the deficiency or a part thereof!

Having the right Short Sale Broker can help determine when it becomes necessary and when it should NOT be allowed, to reach a successful short pay-off approval without deficiency recourse. This does NOT happen all the time, but an experienced Realtor will know the ins and outs of it!

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is a good example of this happening. A real estate agent had a short sale with one of the largest lenders in America. The short sale negotiator said that they would not approve the short sale unless the seller came to closing with 50k cash. The sellers said no way.

Fortunately, the agent knew that Fannie Mae owned their loan. The good news for the seller is that Fannie Mae does not ask for promissory notes or pursue deficiencies. (There are a couple exceptions, but they didn't apply here.) If those are Fannie Mae's Guidelines, then why would the short sale negotiator require the seller to bring 50k to closing?

Turns out the negotiator was not following Fannie Mae's Short Sale Guidelines. The agent contacted Fannie Mae directly. Within 72 hours a supervisor called from the short sale department. This time they were singing a different tune.

The sale was approved and the promissory note waived. The seller got to walk away owing zero. Why do things like these happen? Because, in our opinion, there is little oversight over the short sale process. Nothing happens when a short sale gets rejected and sells for less as a bank owned property. No, don't kid yourself, this happens a lot.

These short sale negotiators develop an adversarial mindset. They probably even get paid bonuses based on how much money they squeeze out of short sale sellers. This causes their ego to get in the way of what is best for the owner of the loan. If you are thinking about short selling your home, make sure your agent knows how to research who the owner of your loan is. That info will allow them to negotiate from a position of power. And it will help you avoid a deficiency or promissory note.

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.

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

http://denverloanmodhelp.com/?p=329

www.youtube.com/user/denverloanmodhelp

www.youtube.com/user/yourhomesellshere

FOLLOW DAN HERE:

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 RE/MAX Alliance.

This information on Stop Forelcosure: Not All Short Sales Should Have Promissory Notes to Succeed!, is provided as a courtesy to our viewers to help them make informed decisions.

Stop Foreclosure: Occupy Wall Street Misses the Target on Banks!

Denver, CO – Occupy Wall Street Protestors are not having the best success attacking Wall Street and the banks. But, that is because they are complaining about what they think is wrong with the situation.

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!


If the protestors only knew the level of incompetence in the banks, then they would have a better argument. Here are some of the glaring mistakes we see the bankers make.

1. Doing an incompetent job on short sales and losing tens of thousands of dollars as a result. We have seen many banks turn down short sale offers only to foreclose on the home and sell it for $30,000 less.

2. Kicking people out of their homes only to lose more money as a result. Many people's homes have dropped in value.

At the same time their income has dropped. But, they can afford to repay the bank, only a lower amount. But, do the banks make the loan modification process easy?

No. Instead, they kick people that could repay them $200,000 out of their homes and then sell the home for $165,000. Again, tens of thousands of dollars are lost.

Yes, I can appreciate that the Occupy Protestors are angry at how hard it is to get a job. But, what about the Americans that are kicked out of their homes?

What about the taxpayers losing thousands bailing out Fannie Mae, Freddie Mac, and FHA? A large part of that bailout cost is attributable to the lousy job banks are doing on short sales and loan modifications.

I think homeowners and taxpayers getting the raw end of the deal are the silent majority. But, we don't have time to protest. so, the banks get away with incompetence. Enough of my rant.

Do you want to be part of the solution. Get a loan modification or short sale your home. You will be doing your part to help the economy.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

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.

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

http://denverstopforeclosureblog.com/?p=978

www.youtube.com/user/avoidforeclosures

www.youtube.com/user/yourhomesellshere

FOLLOW DAN HERE:

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 Stop Foreclosure: Occupy Wall Street Misses the Target on Banks! , is provided as a courtesy to our viewers to help them make informed decisions.

Stop Foreclosure: How Can A Buyer Expedite the Short Sale Process?

Denver, CO – The Stop Foreclosure Institute recently received a question from Mark. Here was his question.

"I am trying to buy a short sale. It has been 4 months and we have heard nothing except that we are now on our 2nd negotiator, still with no contact from them.

I am getting very frustrated. Is there anything I can do on my end to try to push the process this along, or is it all up to the listing agent? Mark.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to his question. It is up to the listing agent to work the process. It is always best to have just ONE contact person interfacing with the lender's negotiators. Too often, if they get overwhelmed with MANY contacting them, it just frustrates them and they will not cooperate as well. The end result is the same, no progress!

If you think that the process is going way too slow, then find another house to procure. Unless that listing agent has a proven track record and a good short sale team to work with short sales, then there isn’t much you can do.

If the short sale property is a great deal, it might be worth it to you to hang on for the long haul. Even if you do stay on board, you should always be on the lookout for another home. Maybe one where the listing agent has a short sale property with a previous approval but THAT BUYER walked, and it is now available for a new offer.

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.

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

http://denverloanmodhelp.com/?p=329

www.youtube.com/user/denverloanmodhelp

www.youtube.com/user/yourhomesellshere

FOLLOW DAN HERE:

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 RE/MAX Alliance.

This information on Stop Foreclosure: How Can A Buyer Expedite the Short Sale Process?, is provided as a courtesy to our viewers to help them make informed decisions.

Stop Foreclosure: Can You Avoid a Deficiency on an Inherited Short Sale Property?

Denver, CO – In today's environment of foreclosures and short sales, you are bound to come across a variety of situations that can raise some questions about the process.

Here is one example of a question that was recently received by a potential client.

"Can an investment property that was "inherited" be a successful short sale without the owner having to pay back the deficiency? I am curious to know the answer. Robert.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is our answer to Robert's question. Since, the property is now inherited, we can assume that the original owner / loan borrower is deceased. If that is the case, then there is a good chance that there will be NO deficiency for the heirs to the property. Please, contact an Attorney to verify this!

Most lenders' loss mitigation departments will want a short sale package that would include financials, but in this situation, it becomes irrelevant. The borrower is not alive. DO NOT be afraid to negotiate a short sale with an incomplete package!

In the past, we have done many short sales without the completed short sale package due to this similar situation when properties have resided in a Living Trust. Without any recourse for the debt or deficiency. So, GO FOR IT!

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.

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

http://denverloanmodhelp.com/?p=329

www.youtube.com/user/denverloanmodhelp

www.youtube.com/user/yourhomesellshere

FOLLOW DAN HERE:

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 RE/MAX Alliance.

This information on Stop Foreclosure: Can You Avoid a Deficiency on an Inherited Short Sale Property?, is provided as a courtesy to our viewers to help them make informed decisions.

Stop Foreclosure: Another Short Sale "Insider" to Know!

Westminster CO – We have received some interesting responses from some of our past clients in regards to the tactics the short sale lenders are doing after the closed short sale!

It appears that after the short sale is complete, the banks are resuming "collection tactics" to repay them on the loan. These lenders are actually stating in their short sale approval letters that the seller will be released from liability.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is the e-mail I received from this agent. “I having been working the short sales diligently the past two years and continue learning a lot, even though this is a tough market.

I recently completed a transaction where the lender agreed in writing to not pursue a deficiency judgment. After the transaction closed, the owner received a notice that the lender was still going to go after him for the deficiency.

There is so much fear that drives people into foreclosure and bankruptcy, that I don't have any information about "after the fact". Jan."

Does NOT seem right, does it?? There have been other stories like this, that I heard about. Some are with the larger banks. Remember, the ONES that received a "bail-out" of the tax payers money!!

They will attempt to chase down the borrower to try and collect the deficiency from the short sale. This is why it is SO IMPORTANT to keep ALL of your documents from the bank short sale approval! Turn over these documents to an Attorney and let them work the issue!

Obviously I haven't seen the approval letters on these stories. So, I don't know for sure if the short sale approval letters actually did let the seller off completely. Some letters will state that the lender WILL NOT release the borrower from any future recourse! SO, understand what the short sale approval agreement states!!

This doesn't surprise me at all. It looks like the typical way of doing business for the banks. Kick the little guy while the people at the top get away with this nonsense. Or, if you have connections, you get bailed out.

Where is the bailout money coming from? Oh, I almost forgot again. The little guy!

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.

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

http://denverloanmodhelp.com/?p=301

www.youtube.com/user/denverloanmodhelp

www.youtube.com/user/yourhomesellshere

FOLLOW DAN HERE:

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 Stop Foreclosure: Another Short Sale "Insider" to Know!, is provided as a courtesy to our viewers to help them make informed decisions.

Denver Loan Mod Help: I Owe Property Taxes And Am Behind On My Mortgage. What Should I Do?

Westminster CO - The Stop Foreclosure Institute recently received a question from a homeowner facing foreclosure. I'll call him Peter to protect his identity.

(Foreclosure is embarrassing and I don't want to put his name out there.) Peter asked, "I am six months behind on my mortgage payments. I just got the tax bill for 2010 in the mail. Should I pay it?"

He continued, "What will happen if I don't pay it? Will my house be auctioned to pay the taxes?"

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

Here is the answer to Peter's Question. (First, I would assume that Peter doesn't have a lot of extra money available to pay the property taxes. If he had extra money, he wouldn't be behind on his mortgage.)

The answer depends on what his plans are and how tight he is on money.

Most people in Peter situation fall into one of 3 categories.

Category A. They want to keep their home. They are already working on a loan modification with their lender. They are saving every extra penny possible and maybe even working an extra job.

Category B. They don't want to keep their home. They might be thinking about a short sale or deed-in-lieu of foreclosure.

Category C. Cannot afford to keep their home, but want to stay there as long as possible. Maybe they bought an expensive home and aren't making the big bucks anymore. But, they can afford to rent a smaller, less expensive home.

First a little background on Peter. Peter is in Florida. In Florida, the county cannot auction your home to pay the taxes for at least 2 years.

In Colorado, it would take up to 3 years before there would be a tax sale!

This means you have a long window to pay back that tax bill. Here is the other thing that often happens. Your lender pays the tax bill. I'm sure you're asking, "Why would the lender pay the tax bill?"

To protect their interest. If the house gets sold at auction, the lender's first mortgage could be wiped out. Lender's have whole departments that do nothing but track property taxes that are due and pay them if necessary. They will pay back taxes and tack it onto what you owe them.

Here is one other caveat: The interest rate on delinquent property taxes in Florida is 10-18%. That can rack up pretty fast.

Here are my answers for how Peter should handle this tax bill.

If he falls into Category A: Pay the tax bill as soon as possible AFTER your loan mod is approved. However, Peter should first attempt to negotiate a successful loan modification with his lender.

Most lenders want a "good faith down payment" to modify a loan. So until the modification goes thru, Peter can save all his money for that.

Because if the loan modification is not approved, then Peter will have wasted money paying the taxes. It will be just one less payment for the bank after they foreclose.

If he falls into Categories B or C: Do not pay the tax bill. The lender will end up paying the bill after they foreclose. Or, it will be paid as part of a short sale. Peter will have sold the house, or his lender will have foreclosed on it long before it can be auctioned for unpaid taxes.

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 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.


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.

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

http://denverstopforeclosureblog.com/?p=786

www.youtube.com/user/avoidforeclosures

www.youtube.com/user/yourhomesellshere

CATCH DAN HERE:

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 Denver Loan Mod Help: I Owe Property Taxes And Am Behind On My Mortgage. What Should I Do? is provided as a courtesy to our viewers to help them make informed decisions.

Are You A Casualty Of The Terrible Loan Modification Process?

Westminster CO - I recently saw an amusing video about loan modifications. In it the guy called Wells Fargo "Hells Fargo." Apparently it is tough to get a loan modification. They lose your paperwork.

You have to talk to people in other countries where English IS NOT their first language. The people at the lenders treat you like dirt.

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

In addition, they pretend to love their customers. While you are waiting on hold for two hours to talk to someone, you get to hear the recording, "We at ABC Lending love our customers. We want to provide the best customer service in order to earn your business."

If you have experienced this, then you know how frustrating it is. But, why go thru the whole experience? Is it really worth the stress?

I don't think so. Most loan modification do not reduce your payment. Some do, but the reduction usually doesn't reduce the payment near the fair market rent. As a result, many homeowners limp along with a loan modification they can barely afford.

Little do they realize that they could go rent a similar home for less money. Here is one example of this. A homeowner gets a loan modification from her lender.

She borrows money from family for the upfront payment. Then, she suffers for a year while she pays a payment that is more than she can afford. She has to work extra hours and some night shifts.

Money is so tight she can barely afford to pay for food. Little does she know that she could rent a similar house for 30% less per month.

I see this story happen more often than not. People don't realize how competitive the rental market is today. They also don't know how much better off they will be mentally. If you are experiencing a loan modification horror story, then stop.

Take a look around. You do have options. There may be another home you and your family can rent. Then you can short sale, wipe out the upside down debt, and move on with your life.

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 danhopper@comcast.net 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 303-521-0984

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thanks for reading this, Dan Hopper.

Dan Hopper is a Realtor located in Westminster, CO., specializing in Denver loan modifications 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 Denver, 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=578

http://denverstopforeclosureblog.com/?p=478

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

http://denverloanmodhelp.com/

CATCH DAN HERE:

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 Are You A Casualty Of The Terrible Loan Modification Process? is provided as a courtesy to our viewers to help them make informed decisions.

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.