Short Sales: More Reasons Why Short Sales Fail

1 CA – We recently gave a couple of common reasons that short sales fail. Today, we will go thru a few more reasons.

(To recap, here were the reasons we put in our previous blog post. Reason #1: The sales price is lower than the lender wants. The lender thinks the home is worth more than it is selling for and won’t approve the short sale unless the price is for the value they have.
Reason #2: The tenant doesn’t allow the home to be showed. Many tenants do not want the home to be shown to buyers because they will have to move before it sells.)
Reason #3: Your realtor never followed up with the lender. Short sale negotiators are not in a rush. They don’t get paid by the file.
They also make the rules. They will issue ultimatums. “Get me this document by Tuesday. If you don’t, then I will cancel the short sale process.”
Restarting the short sale process will set you back 30-60 days. If your agent doesn’t follow up on the process regularly and quickly respond to requests, then your short sale may be canceled.
Reason #4: Your realtor didn’t keep their paperwork organized. Lenders want correct paperwork that is properly filled out. They want everything organized.
Most short sale departments are a bureaucracy. They have checklists to fill out, forms to check, and other things to check.
If your agent is not organized, then they won’t be able to give them the correct paperwork. They might lose paperwork and have to hunt down replacements.

This takes time and slows down the process. So, be sure you hire an organized, competent agent to help you with your 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
Thanks for reading this, Ashish Trivedi.
Ashish is the owner of East Lion Realty & Mortgage
Phone: (818) 259-3455. Ashish@EastLionInc.com.

Short Sale Myth: Anyone Can Negotiate With The Lender

1 CA – Yes, many people think they can negotiate with the lender. But, some of them don’t have the skills necessary to be successful.

Here are a few of the things someone needs before they can negotiate a short sale.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

They must have the ability to understand HUD-1 Closing Statements. The lenders will want a copy of the closing statement, also call a HUD-1.

Most people in the lender’s short sale departments are very familiar with HUD-1s. The person negotiating with you will need to answer any questions they have about the HUD and know how to make changes to it.
They must know the short sale seller’s rights. Most short sale transactions fall under certain guidelines. The lenders don’t always like to follow those guidelines.
They might ask the seller to accept a promissory note when the guidelines don’t require that. You could be stuck repaying thousands of dollars unnecessarily.
Make sure the person negotiating on your behalf has a complete understanding of your rights.
They must know how short sale negotiators think. Short sale negotiators don’t just approve every short sale.
There is a process they must follow before approving or rejecting a short sale offer. If the person doesn’t understand then they won’t be able to work your file thru the process to receive an approval. 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.
Phone: (818) 259-3455. Ashish@EastLionInc.com.

Short Sales: How To Publicize Your Lender’s Failings

1 CA – If you get annoyed at your bank, then here are a few methods you can use to let the world know about your lender's failings.
One technique is a rip off report. Just put all the information onto www.ripoffreport.com. Just be sure to detail stuff that will hurt them.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure. http://www.eastlionre.com/

You will want to put the CEO’s name into your report. You can also put down keywords like "Lender Name Loan." When someone searches Google for your lender’s name and loan, your post might just show up.
Don't talk about your lender only. Target the keywords that bring them business.
Another place to file your complaints is on your review for your local Lender on Google Maps. Lots of consumers search for a bank location on Google Maps. They will see the reviews when they pull them up.
One other technique that would be great is Wikipedia. I don't have enough time to figure out how Wikipedia works, but that is an idea for anyone who wants to try it out. 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: Does escalating the file even work? is provided as a courtesy to our viewers to help them make informed decisions.

Short Sales: Forensic Audits Exposed

1 CA – If you are thinking of short selling your house, then you have probably about forensic loan audits. Some claim they are wonderful. "Your lender will approve your short sale right away", one so called expert claimed.
"Your lender is more likely to give you a loan modification after you discover they broke the law. And most loans were illegal during the crazy lending period we experienced recently", claims another.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Even more insane is the guy who claims, "Lenders will jump over themselves to approve your short sale flip offer." I didn't know if any of this stuff was true.

But, I did hear a story where a lender didn't care about the forensic loan audit. An agent I know was working with a woman who was trying to sell 3 houses.

He knew they were short sales and was glad to list them for sale. There was a guy involved who was supposed to be doing all the "negotiating" with the lender.

Little did this agent know this guy was trying to flip the houses. (Buy for X and resell for $10,000 more.) This guy had someone do a forensic loan audit.
He did this in an attempt to force the lender to approve the short sale. The only problem was the lender didn't care. The negotiators at the lender were not going to approve the short sale flip offer.
"We know this guy is trying to flip the house. We won't approve the short sale as long as he is doing that", they said.
This was despite the forensic loan audit that some claim will have lenders trip over themselves to approve the short sale. It appears they aren’t as eager as some people would have you believe. 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.
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 Sale Question: Can I Short Sale If My House Is Already In Foreclosure? is provided as a courtesy to our viewers to help them make informed decisions.

Short Sales: Does escalating the file even work?

1 CA – The Stop Foreclosure Institute recently received a question from Katie. Here was her question.

I am an agent and I am helping someone short sell their house. X Lender (to remain unnamed) claims that they have sent a short sale package to the seller a couple of times.
But, they haven’t because my customer has never received anything. What can I do? They won’t start the short sale process until they receive the filled out package back from the seller. Katie.”
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here was our recommendation to Katie. Katie, you need to find out who owns the loan. Most likely it isn’t X Lender.
Then, tell the lender representative person that you will contact the loan owner direct and let them know about their incompetence.

As an example, we recently told a negotiator at a large nationwide lender that we would contact all the VFW posts about their incompetence on a VA short sale.

Their incompetence was causing the VA loan program to lose money. We threatened to tell America's Veterans how this lender was wasting their money.
We even put together a press release. What did that negotiator do? She got the short sale approved ASAP. This lender had been dragging their feet for almost two months before that.
We were able to get another large national lender to start working on an FHA file right away, when we reminded about a 5 day turnaround requirement that is in the FHA short sale guidelines.
The basis for contacting the loan owner is that you are holding the servicer accountable. Don't kid yourself, it works. The people who stand to lose money are going to be angry that the lenders do such a lousy job. 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: Does escalating the file even work? is provided as a courtesy to our viewers to help them make informed decisions.

Short Sale Question: Can I Short Sale If My House Is Already In Foreclosure?

1 CA – The Stop Foreclosure Institute recently received a question from Dave. Here was his question.

“I would like to short sale my house. However, the foreclosure has already started. I don’t know how soon the bank is going to come and kick me out.

Can I still short sale? Or, is it to late? Dave.”

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

Here is the answer to his Question. Dave, yes you can still short sale your house. It does depend on how far along you are in the foreclosure process.

You have to remember that the foreclosure process can take a long time. We have seen foreclosure court cases drag out for 2-3 years.

In one rare case Patsi Campbell, a homeowner in Florida, had a foreclosure drag out for 25 years. However, that is a fluke.

The Wall Street Journal gives us a better perspective:

“Ms. Campbell’s foreclosure case has outlasted two marriages, three recessions and four presidents. She has seen seven great-grandchildren born, plum real-estate markets come and go and the ownership of her mortgage change six times.”

The good news is that you can short sale your house, even if the foreclosure has already started. An experienced short sale agent can tell you for certain if you have enough time or not.

You may have more time than you think. Average foreclosure timeline has double and tripled. The foreclosure court system is overloaded and can’t handle the avalanche of files coming their way. 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 .
his information on 1 Short Sale Question: Can I Short Sale If My House Is Already In Foreclosure? is provided as a courtesy to our viewers to help them make informed decisions