Home > Bergen County Short Sales, Foreclosure alternatives, New Jersey short sale > Bergen County Loan Mod Help: Hold Your Lender Accountable When They Reject Your Loan Mod & Lose Money

Bergen County Loan Mod Help: Hold Your Lender Accountable When They Reject Your Loan Mod & Lose Money

Bergen County NJ – In my opinion, the decision making process most lenders use to approve or deny a loan modification is flawed. It appears that the lenders have one thing in mind when you stop paying.

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

They want to foreclose as quickly as possible. It appears that they don’t want homeowners to stay in the home. Foreclosure is much simpler and easier. So they just look at it as the main solution.

If a homeowner can’t afford the payments, then the lender should have reducing losses as their main goal. If that was their goal, then they would approve loan modifications that net them more money than a foreclosure would net them.

Instead, the loan mods are approved only when everything is perfect. As a result, you have people that would find a way to make the payment being foreclosed upon.

As an example, let’s say a homeowner could afford a mortgage payment that equals a $200,000 mortgage. But, the borrower doesn’t completely match the lender’s guidelines.

So the lender forecloses on the house. It sells for $140,000. That is $60,000 lower than the $200,000 they would have netted on the loan modification. Ouch!

That is how you can hold your lender accountable. If they reject your loan modification and foreclose, then you should track what your home sells for after foreclosure.

But, how does this help you during loan modification negotiations? Tell the loan mod negotiator that you plan on holding them accountable.

Tell them that you will contact your newspaper and all the large, national newspapers. I’m sure the media would love the story.

The loan mod negotiator knows this is true and will work harder to find a way to approve your loan modification. They don’t want their name in the newspaper.

Thinking about a loan modification? Our Bergen County loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet. 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 bob@sellitwithbob.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 (201) 567-9191

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

Thanks for reading this, Robert Clarke.

Robert is a Real Estate Agent at RE/MAX Properties Plus. Bergen County Short Sales Realtor:

Phone: (201) 567-9191. bob@sellitwithbob.com.

View My homes for sale at www.SellitWithBob.com.

Robert Clarke specializes in loan modification assistance and short sales in Bergen County New Jersey. Bergen County Loan Modification Help, Bergen County Short Sales. Bergen County Short Sale Realtor Bergen County NJ Short Sales. Bergen County Realtor.

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

Important Notice

Robert Clarke, RE/MAX Properties Plus, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.

If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Clarke’s personal views and do not reflect the views of RE/MAX Properties Plus.

This information on Bergen County Loan Mod Help: Hold Your Lender Accountable When They Reject Your Loan Mod & Lose Money is provided as a courtesy to our viewers to help them make informed decisions.

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