Another Common Bergen County Short Sale Myth: You Have To Be Behind On Payments Before Your Lender Will Approve A Short Sale
Bergen County NJ – This is a common myth that is promoted by people that do not understand lenders or the foreclosure process. However, it’s not true.
Many homeowners have short sold their home and never missed a payment. The lenders will approve a short sale where the seller has not missed a payment when the following is in place.
1. The homeowner owes more on their home than it is worth.
2. The homeowner has a verifiable hardship that will force them to miss their payments in the near future.
In these cases, the lenders know it is better to liquidate the home as quickly as possible. A faster sale will reduce their losses on interest and property taxes.
In addition, an owner occupied home usually sells for much more than a vacant home. Sure, the lenders don’t like short sales.
They hate losing money. (Don’t kid yourself.) But, they know that when a loss is inevitable, then it is best to do what they can to reduce the loss as much as possible.
That is why they will approve short sales when the homeowner hasn’t missed a payment yet. In fact, they will probably even negotiate loan modifications with homeowners who haven’t missed a payment either.
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. Send me an e-mail at firstname.lastname@example.org to request a Free Copy. Or, 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 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 (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. firstname.lastname@example.org.
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.
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 Another Common Bergen County Short Sale Myth: You Have To Be Behind On Payments Before Your Lender Will Approve A Short Sale is provided as a courtesy to our viewers to help them make informed decisions.