Short Sale Realtor Determines The Value Of Your Home

CA – It is very helpful in loan modification negotiations to know the fair market value of your home. You can use the value to convince your lender to accept your loan modification offer.

As an experienced Short Sale Realtor, I can help you determine the value of your home. Here’s how I do that.

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

First, I will look at all of the homes similar to yours that have sold in the last 6 months. I will pick out the 3 homes that are most similar to yours.

Here are a few things that will cause me to pick one home versus another: Home has very similar features, number of bedrooms, and number of bathrooms. I also prefer to use bank owned and short sale properties.

Yes, it is true that bank owned properties usually sell for less than non bank owned homes. But, if your lender denies your loan modification or short sale and chooses to foreclose, then they will be selling the house as a bank owned property.

I might as well use the comparable sales closest to how they will be selling the property. After I pick out the 3 closest comparable sales, then I do a Comparable Market Analysis.

First, I make adjustments to the other sales. For example, if a home has 10% more living space, then I might adjust it’s comparable value by 5-8%.

After I make all the adjustments I average the sales price of the 3 similar homes. That gives me the fair market value of the home.  This process is very similar to what appraisers do, but it is not an appraisal. Rather, it is a Realtor’s Professional Opinion of your home’s value.

The professional terms for it is: Broker’s Price Opinion. The short version is BPO.  Is it a good valuation of your home? Well, the banks think so. In fact, they use another Realtor’s opinion of the value to determine if they should approve or deny a short sale.

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 Ashish@EastLionInc.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 (818) 259-3455

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


Thinking about a loan modification? Our 1 loan modification kit has the instructions you will need to get a loan modification approved with your bank. visit our website for more information: http://www.eastlionre.com/

Thanks for reading this,
Ashish Trivedi.

Ashish is a Real Estate Broker at 1 Short Sales Realtor:
Phone: (818) 259-3455. Ashish@EastLionInc.com.
View My homes for sale at http://www.eastlionre.com/

Ashish Trivedi specializes in loan modification assistance and short sales in San Fernando Valley California. San Fernando Valley Loan Modification Help, San Fernando Valley Short Sales. San Fernando 1 CA Short Sales. 1 Realtor.

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

Important Notice
Ashish Trivedi, , 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 Ashish's personal views and do not reflect the views of .

This information on 1 Short Sales: How To Find Out Who Owns The Loan So You Can Hold Your Bank Accountable is provided as a courtesy to our viewers to help them make informed decisions.

How To Find Out Who Owns The Loan So You Can Hold Your Bank Accountable

1 CA – In our last post, we talked about how you could contact the entity that owns a loan. But, some people were wondering how they could find out who owned their loan.
"I thought ABC Bank owned my loan. I send them a payment every month", they told us. Well, here is how to research the owner of your loan.
http://www.eastlionre.com/ Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Between 65% and 70% of all loan losses are borne by Uncle Sam. He has direct/indirect ownership or insures against losses thru the following entities: Fannie Mae, Freddie Mac, Federal Housing Administration (FHA), and the Veterans Loan Program (VA.)

Here is how to find out if your loan is owned by any of those entities.
Fannie Mae. http://loanlookup.fanniemae.com/loanlookup/
Freddie Mac. https://ww3.freddiemac.com/corporate/

FHA. Towards the top right corner of the first page of the mortgage, there should be a small square. Inside the square, it will say "FHA Case Number 091-424240-703." The case number will be different, but it will still be an FHA loan.

VA. On the mortgage, 1-4 pages past the signature page will be a VA Rider. At the top it will say "NOTICE: THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS." That is a VA loan.

Now you know how to hold your lender accountable. The remaining loans are probably owned by that bank. If that is the case, then you threaten to contact their stockholders. Anyone want to "crash" a stockholder meeting? 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 Ashish@EastLionInc.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 (818) 259-3455

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

Thinking about a loan modification? Our 1 loan modification kit has the instructions you will need to get a loan modification approved with your bank. visit our website for more information:  http://www.eastlionre.com/
Thanks for reading this, Ashish Trivedi.
Ashish is a Real Estate Agent at . 1 Short Sales Realtor:
Phone: (818) 259-3455. Ashish@EastLionInc.com.

View My homes for sale at .

Ashish Trivedi specializes in loan modification assistance and short sales in San Fernando Valley California. San Fernando Valley Loan Modification Help, San Fernando Valley Short Sales. San Fernando 1 CA Short Sales. 1 Realtor.

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

Ashish Trivedi, , 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 Ashish's personal views and do not reflect the views of .
This information on 1 Short Sales: How To Find Out Who Owns The Loan So You Can Hold Your Bank Accountable is provided as a courtesy to our viewers to help them make informed decisions.

Will Bank Of America Approve Short Sales With No Deficiency?

CA – The Stop Foreclosure Institute recently received this question from another agent. Here was his question.

“"Have you had any luck getting short sales done with no deficiency with Bank of America? My seller is a young couple. They received a job transfer but are very upside down on the house. David”
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

A Quick Note: The reason he is asking this question is because Bank of America uses the same short sale approval letter for all their short sales.

A clause in the letter states that BOA and or its investors may pursue the seller for a deficiency judgment. It is a standard, boiler plate letter put together by their attorneys.
Most short sale negotiators refuse to remove that language. BOA’s legal department puts it there because it protects them against lawsuits.

But, if you are a seller then you want to know for sure that you won’t be chase down for a deficiency. If BOA won’t remove that language, then you can’t know for sure whether or not you will be pursued for a deficiency.
Here was our answer to his question. We have convinced them to remove the deficiency language on a short sale. It's just a matter of requesting it and the owner of the loan being willing to remove it.
(Bank of America doesn’t always own the loan themselves) Ask for an approval letter that states they are waiving all future collection rights.

Also, remind the sellers they also have a risk of being collected from in the future, after the bank forecloses. 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 Ashish@EastLionInc.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 (818) 259-3455

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

Thinking about a loan modification? Our 1 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, Ashish Trivedi.



Ashish is a Real Estate Agent at . 1 Short Sales Realtor:



Phone: (818) 259-3455. Ashish@EastLionInc.com.







View My homes for sale at .



Ashish Trivedi specializes in loan modification assistance and short sales in San Fernando Valley California. San Fernando Valley Loan Modification Help, San Fernando Valley Short Sales. San Fernando 1 CA Short Sales. 1 Realtor.







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



Important Notice



Ashish Trivedi, , 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 Ashish's personal views and do not reflect the views of .
This information on 1 Short Sales: Will Bank Of America Approve Short Sales With No Deficiency? is provided as a courtesy to our viewers to help them make informed decisions.

An Example Of How We Escalated A Short Sale File

1 CA – I talk about “escalating” a short sale. To put that in perspective, I am going to give you a real life example of how it is done.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

We had a house on the market for 5 months. We started the price at 425k and slowly brought it down to 375k. We received no offers for 5 months.

Then, we finally received an offer for 350k. Since we knew the bank’s appraised amount, we knew that offer wouldn't work.

The bank’s appraisal had come in around 390k. (We didn’t think that number was the real value because buyers weren’t doing anything at that price.)

We knew that that current offer at $350,000 didn't have a shot at getting accepted.

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

1. Get a new, more accurate appraisal done.

2. Escalate the file.

To handle Part 1, we sent our own version of an appraisal to the lender. We explain to them why we did not think the appraisal was accurate and requested that they order a new one.
Then, we asked for their supervisor's contact info. The new appraisal came back at 380k. The buyer told the bank that they would pay 365k, but no more.

The bank accepted the buyer’s offer and we received an approval and the home sold a few weeks later. 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 Ashish@EastLionInc.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 (818) 259-3455
Discover how other sellers successfully completed a short sale and request a free consultation.
Thinking about a loan modification? Our 1 loan modification kit has the instructions you will need to get a loan modification approved with your bank. visit: http://www.eastlionre.com/
Thanks for reading this,
Ashish Trivedi.

Ashish is a Real Estate Agent at . 1 Short Sales Realtor:
Phone: (818) 259-3455. Ashish@EastLionInc.com.

View My homes for sale at  http://www.eastlionre.com/   .

Ashish Trivedi specializes in loan modification assistance and short sales in San Fernando Valley California. San Fernando Valley Loan Modification Help, San Fernando Valley Short Sales. San Fernando 1 CA Short Sales. 1 Realtor.

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

Important Notice
Ashish Trivedi, , 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.

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 Ashish's personal views and do not reflect the views of .
This information on 1 Short Sales: An Example Of How We Escalated A Short Sale File is provided as a courtesy to our viewers to help them make informed decisions.