Is it Legal for a Seller to Buy a house he is Short Selling?
Friday, January 28
The Stop Foreclosure Institute recently received a question from Mau. Here is Mau's Question. "Is it legal for a short sale seller to buy the house he is selling on short to reduce his mortgage loan?” asked Mau. Discover how other sellers successfully did a short sale to avoid foreclosure by clic...
Who is in charge during a Short Sale?
Friday, January 28
Many home buyers think that the short sale lender is in charge during a short sale. Nothing could be further from the truth. The short sale lender can only veto short sale offers. They can’t put the property up for sale or decide who to sell it to. Only the home owner can do that. Why is that? Di...
Seven Ways You Benefit From a Short Sale
Wednesday, January 26
A home owner thinking of a short sale recently asked us why they should short sale versus just walking away and letting their lender foreclose on the home. We gave them the normal answer: “It’s much better for your credit.” That was the first thing that popped into our head. But, I knew there ar...
Loan Modifications can be a recipe for disaster
Wednesday, January 26
The Star Tribune, a newspaper in Minneapolis, recently ran a story about loan modifications. Here is an excerpt from the article: “Many people who sought help under a federal program created to keep them from losing their homes are instead getting saddled with huge, unexpected bills. Thousands n...
A Common Loan Modification Mistake and How to Avoid it
Wednesday, December 29
Most homeowners negotiating a loan modification are not amazing negotiators. After all, it’s not every American’s job to be a great negotiator. America is built on hard work and treating people fair. Most stores offer products at a good, fair price. The price is the price. If you don’t like it,...
A Cautionary Tale On Loan Modifications
Monday, December 27
Loan Modifications are tough. Lenders don’t want to reduce your payment or reduce the amount you owe. It’s insane. Don’t even get me started on the topic of the nation’s courts being tilted in the favor of the big banks! Most loan modifications end in failure because the banks are so hard to wor...