Many lenders ask for a promissory note on short sales. This is especially true if the lender has Private Mortgage Insurance (also called PMI) that has to approve the short sale. The PMI companies know that homeowners will do anything to protect their credit when they are short selling their home. Click here to discover [...] Read more

Another common type of loan that does not usually have a deficiency is a VA loan. But, how do you determine whether or not you have an VA loan? Click here to discover how other sellers successfully did a short sale and avoided foreclosure. On your original mortgage, 1-4 pages past the signature page will [...] Read more

In most areas the rental market is very tight. Rental prices have been increasing because so many people are losing their home to foreclosure. But, what is still surprising is that in most cases it is still cheaper to rent than own an upside down home. See, home prices have dropped by 20-50%, depending on [...] Read more

The Stop Foreclosure Institute or Orlando recently received a question from Beckie. Here was her question. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. “I need your help. I am trying to short sale my house. My lender is one of the largest in the country. We have [...] Read more

What a relief! You can now short sale your home and not feel like a loser. In fact, it’s becoming the “cool” thing to do. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. I recently read an article about how Medicare was costing way more than the government [...] Read more

In a recent blog posts, I discussed how banks throw out a short sale file if it is rejected. When an offer comes in on a short sale, it takes 30-60 days for a person at the bank to look at the offer. Click here to discover how other sellers successfully did a short sale [...] Read more

We received an email from another agent named Mark that shows how the flawed short sale process causes banks to lose thousands. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here is the email from Mark. “I have been working on a Short Sale for almost a year [...] Read more

Some people don’t know why they should bother with a short sale. “I’ll just let the bank foreclose. A short sale isn’t worth the aggravation”, they tell us. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. There is one simple reason I would prefer to short sale my [...] Read more

In 2010, an agent I know talked to the person at Bank of America in charge of the Loss Mitigation Department. He was the top manager in the department that handles short sales, loan modifications, and foreclosures. He contacted this agent because agents were banding together to educate the public on the mistakes he thought [...] Read more

The National Consumer Law Center wrote a White Paper on how banks handle loan modifications, short sales and foreclosures. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. They titles their White Paper “Why Servicers Foreclose When They Should Modify and Other Puzzles of Servicer Behavior.” Check out the [...] Read more