Loan Servicer doesn't follow VA Short Sale guidelines on a VA loan
Tuesday, November 30
We recently negotiated a short sale on a VA Loan. After the appraisal is complete and all the other necessary document have been received, VA guidelines state the loan servicer should give us an answer within 15 days. The loan servicer took 65 days to give us an answer. That is a complete violat...
A Few Examples of Loan Services Not Doing their Job
Monday, November 29
Most people think the person they mail their mortgage payment to every month is the owner of their loan. Not so. In fact, most of the time, they are not the owner. As an example, 80% of all loans that Bank of America handles are not owned by Bank of America. Discover how other sellers successful...
Question from homeowner: I want to avoid foreclosure, but my lender won't let me
Sunday, November 21
The Stop Foreclosure Institute recently received a question from Arman. Here is his question. I am a Seller trying to avoid foreclosure. My agent has a buyer and his offer is with the lender from last seven months. Now the lender told us that Fannie Mae investor refused the short sale offer and t...
I thought it would it work, but it didn't
Monday, November 15
I'm sure you have heard about forensic loan audits. I've heard people say how wonderful they are. "Your lender will approve your short sale right away", claims one. Discover how other sellers successfully did a short sale and request a free consultation by clicking here. An agent told me a story...
How to know when the short sale negotiator is lying to you
Monday, November 15
Negotiating short sales is tough. In my opinion, some of the banks are not making good financial decisions. "We won't approve the file without the financials completely filled out," they say. Or, they tell you the numbers won't work when the investor guidelines actually say to approve the short ...
What to do when they won't allow you to "escalate" the short sale file
Thursday, November 11
Yesterday I gave you a good example of why you should "escalate" a short sale file. The Stop Foreclosure Institute took a short sale that wasn't going to be approved, pushed for an approval, and received it. As a result a homeowner avoided foreclosure, a buyer was able to buy the home they wante...