We Must Educate The Public About Banker’s Stupid Decisions On Orlando Loan Modifications
A family buys a home for $250,000. The home declines in value to $150,000. At the same time, their income drops to where they can only afford a $150,000 mortgage payment.
Does their bank reduce their payment and allow them to keep their home? No! Instead, the bank forecloses on the home. But, it doesn’t sell for $150,000.
It sells for $140,000, because the bank didn’t keep it up and the buyers offered less because it was a bank owned home. The bank nets $120,000 on the sale.
So, instead of allowing the family to stay in their home and repay them $150,000; the bank instead chose to kick them out of their home and lost $30,000 as a result.
Isn’t this pathetic? We need to change the system, don’t we? Now, We can have our opinions about how the banks handle loan modifications. We can complain about how they lose their investor’s money.
We can do all of this. But, it doesn’t really matter if they don’t care. The people at the banks are in control of the system. They think they are in the right.
The bankers think that the homeowners were stupid, irresponsible, and bought more home than they could afford. In a real business, when an employee makes a decision that loses the company $180,000 heads, then heads will roll.
Someone is getting chewed out or fired. I remember a friend telling me about a restaurant. An employee had left some chicken out overnight and it spoiled. The restaurant lost $800.
That employee probably got chewed out. Maybe even fired. But, these banks lose Fannie Mae $180,000 and nothing happens. It’s business as usual. Pathetic, isn’t it?
We need to get out of venting to just people who are in the business. They already know we have a problem. But, the average American doesn’t know about the problems.
We need to show the American Public solid examples of how they are losing money. Let’s post the banks failings online. Tell the story at ripoffreport.com.
Loan modifications and short sales will become a game of chicken. You can tell the negotiator, “Turn down this offer at your own risk. If you fail, and the house sells for less money, then I will put the entire story up online.”
That will help our cause. All we are doing is making a track record of these bank’s decisions. People who have better information will make better decisions.
This will make it easier for Fannie Mae, Freddie Mac, and the American People to make better decisions on short sales and the short sale process.
So, please post your bank’s failings online. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at email@example.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 407-359-2220
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Orlando 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, Tom Mack.
Tom is a Real Estate Agent at eXp Realty. Orlando Short Sales Realtor:
Phone: 407-359-2220. firstname.lastname@example.org.
View My homes for sale at Homes-Orlando.com.
Tom Mack specializes in loan modification assistance and short sales in Orlando Florida. Orlando Loan Modification Help, Orlando Short Sales. Orlando Short Sale Realtor. Altamonte Springs FL Short Sale Realtor. Casselberry FL Short Sale Realtor. Lake Mary FL Short Sale Realtor. Longwood FL Short Sale Realtor. Oviedo FL Short Sale Realtor. Sanford FL Short Sale Realtor. Winter Park FL Short Sale Realtor. Winter Springs FL Short Sale Realtor. Apopka FL Short Sale Realtor. Eatonville FL Short Sale Realtor. Maitland FL Short Sale Realtor. Ocoee FL Short Sale Realtor. Orlando FL Short Sale Realtor. Windermere FL Short Sale Realtor. Winter Garden FL Short Sale Realtor. Kissimmee FL Short Sale Realtor. Orlando FL Short Sales. Orlando Realtor.
Tom Mack, eXp Realty, 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 Tom’s personal views and do not reflect the views of eXp Realty.
This information on We Must Educate The Public About Banker’s Stupid Decisions On Orlando Loan Modifications is provided as a courtesy to our viewers to help them make informed decisions.
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