Northridge CA – Another common type of loan that does not usually have a deficiency is a VA loan.

But, how do you determine whether or not you have an VA loan?

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

On your original 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. The picture above is from a VA mortgage. The page for the VA mortgage was 2 pages below the original signature page of the mortgage.

The pages between this and the signature page had the notary’s signature and the legal description. You can get a copy of your mortgage from the public records in your county.

Most realtors will know how to look up this information. If not, then they will know a title company that can do the research for you.

A VA Short Sale is called a “Compromise Sale.” According to those guidelines, they will give a complete release if a seller participates in the short sale program, and there was no “fraud, misrepresentation, or bad faith” on the part of the homeowner.

The bad news is that you will not be eligible for another VA loan until you repay the VA for their loss. So you may not be able to get a VA loan in the future. 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 savethehouse4me@gmail.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 213 445 2277

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

Thinking about a loan modification? Our Northridge 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, Will Wheaton.

Will is a Real Estate Agent at Keller Williams R.R. Gable. Northridge Short Sales Realtor:

Phone: 213 445 2277. savethehouse4me@gmail.com.

View My homes for sale at www.willwheaton.kwrealty.com.
Get cash for your house now at www.willwheaton.kwrealty.com.
Will Wheaton specializes in loan modification assistance and short sales in Northridge California. Northridge Loan Modification Help, Northridge Short Sales. Northridge Short Sale Realtor. Granada Hills CA Short Sale Realtor. Reseda CA Short Sale Realtor. Canoga Park CA Short Sale Realtor. Santa Clarita CA Short Sale Realtor. Encino CA Short Sale Realtor. Palmdale CA Short Sale Realtor. Chatsworth CA Short Sale Realtor. Sylmar CA Short Sale Realtor. Sherman Oaks CA Short Sale Realtor. Los Angeles CA Short Sale Realtor. Northridge CA Short Sales. Northridge Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Will Wheaton, Keller Williams R.R. Gable, 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?

The views expressed here are Will’s personal views and do not reflect the views of Keller Williams R.R. Gable.

This information on Will I Owe A Deficiency On A Northridge Short Sale If I Have A VA Loan? is provided as a courtesy to our viewers to help them make informed decisions.

Northridge CA – The next most common type of loan that does not usually have a deficiency is an FHA loan.

But, how do you determine whether or not you have an FHA loan?

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

Here is the best way that I have found to do this. Look up your mortgage on the public records in your county. You can usually access the public records online.

Just Google, “County, State Public Records.” For example, if we Google “Cook County Illinois Public Records”, then you will get the clerk of court’s website on the second link.

Most realtors will know how to look up this information. If not, then they will know a title company that can do the research for you. Once you access the public records you will want to pull up your mortgage.

If you have an FHA loan, then on the first page of the mortgage, there should be a small square and inside the square, it will say “FHA Case Number 091-4242640-703.”

FHA’s Short Sale Guidelines are covered in a letter they end out to all the lenders that are handling their loan. Whenever they make a change to the guidelines, they send out a Mortgagee Letter.

They issued a new Mortgagee Letter at the beginning of the financial crisis that made a lot of changes to how they handle short sales. That letter was called “Mortgagee Letter 2008-43.”

You can Google that if you want to look at a copy yourself. On page 5 of Mortgage Letter 2008-43, it specifically states that if you short sale or attempt to short sale, then you will be released from the debt.

Here is an excerpt from the letter:

Mortgagors, acting in good faith, who successfully sell their properties using this option are relieved of their mortgage obligation and are entitled to a consideration of $750. If the closing occurs within 3 months of the approval to participate, the mortgagor will be entitled to $1,000. Unless the mortgagor’s consideration is required to release junior liens, the mortgagor may elect to accept cash paid at closing. The mortgagor may also apply a portion of or the entire amount of consideration to offset sales costs not paid by HUD; including a home warranty plan fee, costs of optional repairs, and buyer’s closing expenses. If the PFS is unsuccessful and foreclosure occurs, mortgagors who participate in the PFS Program in good faith will not be pursued for deficiency judgments by the mortgagee or HUD.”

The main requirement to being allowed to participate in the program is that the property cannot be an investment property and that the homeowner has to have a genuine hardship.

Looks like a good way to wipe out some upside down mortgage debt. 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 savethehouse4me@gmail.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 213 445 2277

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

Thinking about a loan modification? Our Northridge 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, Will Wheaton.

Will is a Real Estate Agent at Keller Williams R.R. Gable. Northridge Short Sales Realtor:

Phone: 213 445 2277. savethehouse4me@gmail.com.

View My homes for sale at www.willwheaton.kwrealty.com.
Sell Your House Fast at www.willwheaton.kwrealty.com.
Will Wheaton specializes in loan modification assistance and short sales in Northridge California. Northridge Loan Modification Help, Northridge Short Sales. Northridge Short Sale Realtor. Granada Hills CA Short Sale Realtor. Reseda CA Short Sale Realtor. Canoga Park CA Short Sale Realtor. Santa Clarita CA Short Sale Realtor. Encino CA Short Sale Realtor. Palmdale CA Short Sale Realtor. Chatsworth CA Short Sale Realtor. Sylmar CA Short Sale Realtor. Sherman Oaks CA Short Sale Realtor. Los Angeles CA Short Sale Realtor. Northridge CA Short Sales. Northridge Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Will Wheaton, Keller Williams R.R. Gable, 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?

The views expressed here are Will’s personal views and do not reflect the views of Keller Williams R.R. Gable.

This information on Will I Owe A Deficiency On A Northridge Short Sale If I Have An FHA Loan? is provided as a courtesy to our viewers to help them make informed decisions.

Northridge CA – OK, let’s talk about the most common types of loans that do not require a deficiency on a short sale. The first common loan type is a Fannie Mae or Freddie Mac loan.

I’ll call them Fannie & Freddie in this post. Freddie & Fannie are different quasi-governmental entities that own mortgages. For our conversation, they are very similar in the way they handle short sales.

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

First, you need to find out if Fannie or Freddie own your loan.

Fannie Mae has a website with a lookup tool. Go to this site to research if your loan is owned by Fannie Mae: www.fanniemae.com/loanlookup/

Freddie Mac has a lookup tool here: ww3.freddiemac.com/corporate/

If your loan is owned by Fannie Mae, then you usually do not have to worry about a deficiency. Fannie Mae’s official policy is that they will forgive the debt if a seller has a genuine hardship.

Fannie & Freddie’s policies are basically the same. They state that they will pursue a short sale seller if they have they can afford to make the payment or it is an investment property.

You need to keep this in mind if you are strategically defaulting. One problem with some of these short sales is that the loan was insured by Private Mortgage Insurance, also called PMI.

The PMI companies have the ability to approve or veto the short sale offer. Many PMI companies ask for a promissory note before they will approve a short sale.

The good news is that the promissory note is usually less than the amount lost. For example, we recently saw a lender lose over $100,000 on a short sale. They asked the homeowner for a $20,000 promissory note.

Are you willing to pay $20,000 to walk away from $100,000 in debt? I think that’s a good bargain.

If you have a Fannie or Freddie Loan and have a genuine hardship, then you can be pretty confident that you have a very good shot at being able to walk away without a deficiency. 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 savethehouse4me@gmail.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 213 445 2277

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

Thinking about a loan modification? Our Northridge 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, Will Wheaton.

Will is a Real Estate Agent at Keller Williams R.R. Gable. Northridge Short Sales Realtor:

Phone: 213 445 2277. savethehouse4me@gmail.com.

View My homes for sale at www.willwheaton.kwrealty.com.
Sell Your House Fast at www.willwheaton.kwrealty.com.
Will Wheaton specializes in loan modification assistance and short sales in Northridge California. Northridge Loan Modification Help, Northridge Short Sales. Northridge Short Sale Realtor. Granada Hills CA Short Sale Realtor. Reseda CA Short Sale Realtor. Canoga Park CA Short Sale Realtor. Santa Clarita CA Short Sale Realtor. Encino CA Short Sale Realtor. Palmdale CA Short Sale Realtor. Chatsworth CA Short Sale Realtor. Sylmar CA Short Sale Realtor. Sherman Oaks CA Short Sale Realtor. Los Angeles CA Short Sale Realtor. Northridge CA Short Sales. Northridge Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Will Wheaton, Keller Williams R.R. Gable, 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?

The views expressed here are Will’s personal views and do not reflect the views of Keller Williams R.R. Gable.

This information on A Common Northridge Short Sales: The Most Common Types Of Loan That Do Not Require A Deficiency is provided as a courtesy to our viewers to help them make informed decisions.

Northridge CA – I am about to explain how the different types of loans impacts whether or not you will have a deficiency after you short sale your house.

But, I first want to bust the common myth that you won’t know if you will have a deficiency until after you have started the short sale process.

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

Many agents will tell you that you won’t know for sure if you will have a deficiency until you have started the short sale process. Sure, they can give you the answer if you are in a non deficiency state, such as California.

But, what if you are in Florida, which is a deficiency state? They will usually tell you that you won’t know if you will have a deficiency until the short sale process has been started.

That is not necessarily true. First, here is the good news. In about 80-90% of all cases, you will not have a deficiency on a short sale even if you live in a deficiency state.

But, if your loan is the type that do not require deficiencies, then you don’t have to worry about a deficiency. The key is to find out the type of loan you have and the short sale guidelines for that type of loan.

In my next post I will start to explain those different loan types and their short sale guidelines. 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 savethehouse4me@gmail.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 213 445 2277

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

Thinking about a loan modification? Our Northridge 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, Will Wheaton.

Will is a Real Estate Agent at Keller Williams R.R. Gable. Northridge Short Sales Realtor:

Phone: 213 445 2277. savethehouse4me@gmail.com.

View My homes for sale at www.willwheaton.kwrealty.com.
Get Cash For your House fast at www.willwheaton.kwrealty.com.
Will Wheaton specializes in loan modification assistance and short sales in Northridge California. Northridge Loan Modification Help, Northridge Short Sales. Northridge Short Sale Realtor. Granada Hills CA Short Sale Realtor. Reseda CA Short Sale Realtor. Canoga Park CA Short Sale Realtor. Santa Clarita CA Short Sale Realtor. Encino CA Short Sale Realtor. Palmdale CA Short Sale Realtor. Chatsworth CA Short Sale Realtor. Sylmar CA Short Sale Realtor. Sherman Oaks CA Short Sale Realtor. Los Angeles CA Short Sale Realtor. Northridge CA Short Sales. Northridge Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Will Wheaton, Keller Williams R.R. Gable, 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?

The views expressed here are Will’s personal views and do not reflect the views of Keller Williams R.R. Gable.

This information on A Common Northridge Short Sale Myth: You Don’t Know If Your Lender Will Want A Deficiency Until We Have Started The Short Sale Process is provided as a courtesy to our viewers to help them make informed decisions.

Northridge CA – We recently received an email from Joy. She was thinking about a short sale, but was worried about a deficiency.

Here is a sentence from her email: “We obviously want to get the price as close to fair market value as possible to eliminate or reduce any deficiency the bank may assess, but also want the house to move as quickly as possible.”

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

Here is the good news for Joy. In about 80-90% of all cases the homeowner is allowed to walk away without a deficiency. Yes, banks are releasing homeowners from hundreds of thousands of dollars in upside debt.

We’ve seen homeowners walk away from $300,000, $500,000, and more in upside down debt. It’s like a “Get Out Of Jail Free” Card.

So, how do you find out if you will not owe a deficiency after a short sale? Here is the first step. Find out who owns your loan. Even if you send your monthly payment to ABC Bank it is likely that your loan is owned or insured by one of the one of the following entities.

Fannie Mae or Freddie Mac. There is about a 60% chance that your loan is owned by one of these two entities. If they own your loan, then mortgage forgiveness will be granted according to their policies.

FHA Insured. FHA does not own your loan. But, they insure the owner against loss which means that they will be writing the check for the loss. As a result, they dictate whether or not the debt is forgiven.

VA Insured. The Veteran’s Administration does not own your loan. But, they insure the owner against much of the loss. As a result, they dictate whether or not the debt is forgiven.

USDA Insured. USDA does not own your loan, but insures the owner against much of the loss. As a result, they dictate whether or not the debt is forgiven.

Sliced and Diced Loan. This is a mortgage that has been securitized. It is called “Sliced and Diced” because of the way the ownership of each loan is sliced up and sold off to thousands of different people.

The actual owners of the loan are the people that bought the securitized loan product.

Once you have found out who owns your loan, then you move to the next step. That is to find out the short sale deficiency guidelines of the individual owner or insurer of your mortgage. 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 savethehouse4me@gmail.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 213 445 2277

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

Thinking about a loan modification? Our Northridge 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, Will Wheaton.

Will is a Real Estate Agent at Keller Williams R.R. Gable. Northridge Short Sales Realtor:

Phone: 213 445 2277. savethehouse4me@gmail.com.

View My homes for sale at www.willwheaton.kwrealty.com.
Get a cash offer for your house now at www.willwheaton.kwrealty.com.
Will Wheaton specializes in loan modification assistance and short sales in Northridge California. Northridge Loan Modification Help, Northridge Short Sales. Northridge Short Sale Realtor. Granada Hills CA Short Sale Realtor. Reseda CA Short Sale Realtor. Canoga Park CA Short Sale Realtor. Santa Clarita CA Short Sale Realtor. Encino CA Short Sale Realtor. Palmdale CA Short Sale Realtor. Chatsworth CA Short Sale Realtor. Sylmar CA Short Sale Realtor. Sherman Oaks CA Short Sale Realtor. Los Angeles CA Short Sale Realtor. Northridge CA Short Sales. Northridge Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Will Wheaton, Keller Williams R.R. Gable, 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?

The views expressed here are Will’s personal views and do not reflect the views of Keller Williams R.R. Gable.

This information on Worried About Owing Money After A Northridge Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Northridge CA – Thinking about a loan modification. If you can afford to, then order an appraisal. Or, do your own appraisal.

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

Ask your realtor “Hey, what are houses in my area selling for?” I’ve seen people who bought a house for $500,000. Guess what’s it selling for today? $300,000.

If your house has had a 40% drop in value, then you shouldn’t be paying a mortgage payment based on a value of $500,000. You should be paying a mortgage payment based on a value of $300,000. Make sense?

Here’s how to find calculate you should be paying. Google “amortization calculator.” Type in what your home is currently worth. Enter the interest rate you were originally paying.

Look at the example numbers below.

* A $500,000 mortgage at 6% interest is a monthly payment of $2,997.75.

* A $300,000 mortgage at 4.5% interest is a monthly payment of $1,520.06. Remember, interest rates have dropped a bunch lately.

It looks to me like this person is overpaying by $1,477.69 a month. Ouch!

Run the numbers for your house. If your lender forecloses on your house, then it’s not necessarily going to sell for the market value. Most foreclosed houses often sell for 85% to 95% of the value today.

Remember, knowledge is power. When you have this information you have a much better negotiating position with your lender.

You can say “Hey guys, foreclose on my house. But, be prepared to lose a ton of money.” 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 savethehouse4me@gmail.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 213 445 2277

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

Thinking about a loan modification? Our Northridge 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, Will Wheaton.

Will is a Real Estate Agent at Keller Williams R.R. Gable. Northridge Short Sales Realtor:

Phone: 213 445 2277. savethehouse4me@gmail.com.

View My homes for sale at www.willwheaton.kwrealty.com.
Sell Your House fast at www.willwheaton.kwrealty.com.
Will Wheaton specializes in loan modification assistance and short sales in Northridge California. Northridge Loan Modification Help, Northridge Short Sales. Northridge Short Sale Realtor. Granada Hills CA Short Sale Realtor. Reseda CA Short Sale Realtor. Canoga Park CA Short Sale Realtor. Santa Clarita CA Short Sale Realtor. Encino CA Short Sale Realtor. Palmdale CA Short Sale Realtor. Chatsworth CA Short Sale Realtor. Sylmar CA Short Sale Realtor. Sherman Oaks CA Short Sale Realtor. Los Angeles CA Short Sale Realtor. Northridge CA Short Sales. Northridge Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Will Wheaton, Keller Williams R.R. Gable, 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?

The views expressed here are Will’s personal views and do not reflect the views of Keller Williams R.R. Gable.

This information on Northridge Loan Modification Tips: How To Gain A Negotiating Edge Over Your Lender is provided as a courtesy to our viewers to help them make informed decisions.

Northridge CA – I received a note the other day from Andrew. He was upset that I would tell people that are upside down on their house to ask for a principal reduction from their lender. Here was his email.

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

“I saw your blog post about how the banks won’t approve principal reductions for people who are struggling financially.

You recommended that anyone upside down should short sale their house because that is the only way to get the amount they owe reduced.

These people took out a loan and made a promise to do everything in their power to repay it. I think it is wrong that you would openly recommend them break that promise.

All that does is make it harder for someone responsible to get a loan. They banks have lost so much money because people walked away from their mortgages that they are making it impossible for responsible people to get a mortgage. Andrew.”

Here was my response to Andrew’s email.

“Andrew, thank you for your opinion. Fortunately we live in America and everyone is entitled to their opinion.

I can understand that you are frustrated. It sounds like this has affected you personally when you tried to borrow money. But, let me ask you this.

I meet a homeowner named John. John’s company went under during the economic crisis and John lost his job. He was out of work for six months and burned up all his savings and retirement accounts trying to stay afloat.

Today John is working 2 jobs, but making less money than he did at his previous 1 job. He cannot afford his mortgage payment. His lender will not reduce the payment to where he can afford it.

If he pays it, then he can’t pay for groceries. He makes too much money to qualify for food stamps. So, what should he do?

Should he get a third job, work until he burns out, and then lose everything? Or, should he move to a more affordable house and try to get his life back on track?

I think he should do whatever he can to get his life back on track, whether that be a loan modification or short sale. I know you may think he should work 80 or 100 hours a week until he has repaid every single debt in full.

Ultimately John and his family have to do what makes sense for them. Fortunately, America gives you the freedom to make your own decisions on what is best for you. 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 savethehouse4me@gmail.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 213 445 2277

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

Thinking about a loan modification? Our Northridge 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, Will Wheaton.

Will is a Real Estate Agent at Keller Williams R.R. Gable. Northridge Short Sales Realtor:

Phone: 213 445 2277. savethehouse4me@gmail.com.

View My homes for sale at www.willwheaton.kwrealty.com.

Sell your house fast at www.willwheaton.kwrealty.com.
Will Wheaton specializes in loan modification assistance and short sales in Northridge California. Northridge Loan Modification Help, Northridge Short Sales. Northridge Short Sale Realtor. Granada Hills CA Short Sale Realtor. Reseda CA Short Sale Realtor. Canoga Park CA Short Sale Realtor. Santa Clarita CA Short Sale Realtor. Encino CA Short Sale Realtor. Palmdale CA Short Sale Realtor. Chatsworth CA Short Sale Realtor. Sylmar CA Short Sale Realtor. Sherman Oaks CA Short Sale Realtor. Los Angeles CA Short Sale Realtor. Northridge CA Short Sales. Northridge Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Will Wheaton, Keller Williams R.R. Gable, 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?

The views expressed here are Will’s personal views and do not reflect the views of Keller Williams R.R. Gable.

This information on Yes, I Do Think A Northridge Loan Modification Is The right Thing To Do is provided as a courtesy to our viewers to help them make informed decisions.

Northridge CA – Are you pulling your hair out trying to convince your lender to reduce the amount you owe on your home?

People have a hard time grasping how difficult it is to get a loan modification that is fair. These banks just do everything they can to squeeze homeowners for as much money as possible.

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

Here is an example of a homeowner that accepted a forbearance agreement with their lender. The homeowner was desperate to keep his home and just accepted the first offer his lender made.

Today, he is paying $4,400 monthly. The sad thing is that it would cost her about $2,500 a month to rent a comparable home.

He could save $1,900 monthly if he moved out and rented a similar home. But, even worse is how much money this will cost him over the long term.

I project that it will take 19 years for his house to appreciate back to what he originally paid for the house. He will overpay his lender by $433,200 over the next 19 years while him and his family wait for the housing market to recover.

It’s sad, but the only way that I have seen anyone receive a principal reduction is to short sell their house.

You can even buy another house right away if you qualify for the guidelines of certain short sale programs. 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 savethehouse4me@gmail.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 213 445 2277

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

Thinking about a loan modification? Our Northridge 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, Will Wheaton.

Will is a Real Estate Agent at Keller Williams R.R. Gable. Northridge Short Sales Realtor:

Phone: 213 445 2277. savethehouse4me@gmail.com.

View My homes for sale at www.willwheaton.kwrealty.com.

Cash For Your House Fast www.willwheaton.kwrealty.com.

Will Wheaton specializes in loan modification assistance and short sales in Northridge California. Northridge Loan Modification Help, Northridge Short Sales. Northridge Short Sale Realtor. Granada Hills CA Short Sale Realtor. Reseda CA Short Sale Realtor. Canoga Park CA Short Sale Realtor. Santa Clarita CA Short Sale Realtor. Encino CA Short Sale Realtor. Palmdale CA Short Sale Realtor. Chatsworth CA Short Sale Realtor. Sylmar CA Short Sale Realtor. Sherman Oaks CA Short Sale Realtor. Los Angeles CA Short Sale Realtor. Northridge CA Short Sales. Northridge Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Will Wheaton, Keller Williams R.R. Gable, 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?

The views expressed here are Will’s personal views and do not reflect the views of Keller Williams R.R. Gable.

This information on Another Example Of Just How Lousy A Northridge Loan Modification Is For You is provided as a courtesy to our viewers to help them make informed decisions.

Northridge CA – When you negotiate your loan mod you need to remember that the banks are professional negotiators. They know the tricks.

They know how to suck as much money out of you as is legally possible. Don’t kid yourself. They’re going to use every single tool in their tool chest to squeeze you.

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

So before you start negotiations with the bank, you’ve got to be prepared. You can’t just walk into a gunfight with a knife. You’ve got to go prepared so you get yourself the best deal.

Research your options. The lender’s negotiator can sense weakness. They can sense when you’ll take any payment amount they tell you. Guess what happens next?

You’re going to be stuck with a much higher monthly payment. Make sure that when you start negotiations, you know the alternatives. You can’t negotiate unless you come from a position of power.

You must be able to say, “I can afford to walk away from the negotiating table if you push me to hard. If the bank pushes me to a monthly payment that I can’t afford, then I will walk away and get a better deal for myself elsewhere.”

Find what houses similar to yours are renting for. It might make sense to rent and divorce the unrealistic lender and overpriced mortgage.

I’ve seen so many people stay in their house and accept a monthly payment much higher than what they could rent a similar home for each month.

The other thing is, they’re already strapped just trying to pay their mortgage month. It becomes a struggle to put food on the table. How did that happen?

Well, their lender was good at negotiating. Don’t let someone who’s good at negotiating push you around and take food off your table. 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 savethehouse4me@gmail.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 213 445 2277

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

Thinking about a loan modification? Our Northridge 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, Will Wheaton.

Will is a Real Estate Agent at Keller Williams R.R. Gable. Northridge Short Sales Realtor:

Phone: 213 445 2277. savethehouse4me@gmail.com.

View My homes for sale at www.willwheaton.kwrealty.com.

CAsh For Houses at www.willwheaton.kwrealty.com.
Will Wheaton specializes in loan modification assistance and short sales in Northridge California. Northridge Loan Modification Help, Northridge Short Sales. Northridge Short Sale Realtor. Granada Hills CA Short Sale Realtor. Reseda CA Short Sale Realtor. Canoga Park CA Short Sale Realtor. Santa Clarita CA Short Sale Realtor. Encino CA Short Sale Realtor. Palmdale CA Short Sale Realtor. Chatsworth CA Short Sale Realtor. Sylmar CA Short Sale Realtor. Sherman Oaks CA Short Sale Realtor. Los Angeles CA Short Sale Realtor. Northridge CA Short Sales. Northridge Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Will Wheaton, Keller Williams R.R. Gable, 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?

The views expressed here are Will’s personal views and do not reflect the views of Keller Williams R.R. Gable.

This information on Thinking About A Northridge Loan Modification? Run The Numbers First is provided as a courtesy to our viewers to help them make informed decisions.

Northridge CA – It’s sad that the banks aren’t willing to give anyone a principal reduction. The banks reasoning is that if they start granting principal reductions, then every single upside down homeowner will want one.

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

As a result people are stuck overpaying for their upside down homes. Take an example of a family who bought their home at the peak of the market. Their monthly payment was $1,400.

Their lender agreed to forgive their missed back payments. But, they wouldn’t reduce their monthly payment. So, this family start looking at other options.

They had recently had their first kid and wanted to move out of their townhouse. They wanted a house with a yard. They found a bigger home with a large yard for their daughter.

The new home even had a 2 car garage that their townhouse didn’t They liked the new home. But, they liked the payment even better. The rent payment was $850 a month.

That’s a 39% reduction in their monthly payment. Even worse, it would have taken 25 years for their house to be worth what they had paid for it.

Let’s say that they had had accepted their lender’s offer and agreed to pay $1,400 a month. According to my calculations, they would have paid their lender $165,000 extra above what they pay for rent.

Ouch! That is a good example of why loan modifications don’t help anyone but the banks. 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 savethehouse4me@gmail.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 213 445 2277

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

Thinking about a loan modification? Our Northridge 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, Will Wheaton.

Will is a Real Estate Agent at Keller Williams R.R. Gable. Northridge Short Sales Realtor:

Phone: 213 445 2277. savethehouse4me@gmail.com.

View My homes for sale at www.willwheaton.kwrealty.com.
Fast Cash For your House at www.willwheaton.kwrealty.com.

Will Wheaton specializes in loan modification assistance and short sales in Northridge California. Northridge Loan Modification Help, Northridge Short Sales. Northridge Short Sale Realtor. Granada Hills CA Short Sale Realtor. Reseda CA Short Sale Realtor. Canoga Park CA Short Sale Realtor. Santa Clarita CA Short Sale Realtor. Encino CA Short Sale Realtor. Palmdale CA Short Sale Realtor. Chatsworth CA Short Sale Realtor. Sylmar CA Short Sale Realtor. Sherman Oaks CA Short Sale Realtor. Los Angeles CA Short Sale Realtor. Northridge CA Short Sales. Northridge Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Will Wheaton, Keller Williams R.R. Gable, 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?

The views expressed here are Will’s personal views and do not reflect the views of Keller Williams R.R. Gable.

This information on Why Northridge Loan Modifications Are Bad: Family Rents Bigger House For $550 Less Than Old Home is provided as a courtesy to our viewers to help them make informed decisions.