Stop Foreclosure Institute of Glendora Assisting Homeowners in Distress

Glendora Short Sale Myth: The bank wants a deficiency on the short sale so I can get out of it by letting them foreclose

July 11, 2011
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Glendora CA – Most people short selling their home do not want to repay the deficiency. And in most cases, the lender allows them to walk away with no deficiency.

But, that is not always the case. Some banks are very pushy when it comes to the deficiency. They won’t approve the short sale unless the borrower accepts a deficiency.

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

Some home sellers have told the Stop Foreclosure Institute that if the lender won’t approve the short sale without a deficiency, then they will simply allow them to foreclose on the property.

This seems like a good strategy on the surface. But, it could end up costing a homeowner even more money in the long run.

That is because the homeowner loses control over the condition of the home when it is on the market. They aren’t able to maintain the home and keep it up.

Most homes that have been foreclosed on are abandoned by the lenders. Sure, they “winterize” the homes. But, they don’t do anything to keep the homes in tip top showing condition.

This causes most bank owned homes to sell for less money. Here is something else that will cause you home to sell for less money. The buyers aren’t willing to pay as much.

Buyers know when a home for sale is bank owned. What do you think pops into them mind when they see that? “I can buy it for a steal”, they think to themselves.

This causes bank owned homes to sell for less. And if it sells for less money, then the bank will come looking for a larger deficiency payment.

This is why a short sale is usually better for you versus letting the bank foreclose and then sell the house.

Thinking about a loan modification?Our Glendora loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at Ryan@GlendoraRealEstate.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 Ryan@GlendoraRealEstate.org. 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 (626) 991-2156

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

Thanks for reading this, Ryan Ottosen.

Ryan is a Real Estate Agent at Coldwell Banker Millennium. Glendora Short Sales Realtor:

Phone: (626) 991-2156. Ryan@GlendoraRealEstate.org.

Turning A “Positive” Out of A Negative

View My homes for sale at www.RealEstate2Rentals.com.

Ryan Ottosen specializes in loan modification assistance and short sales in Glendora California. Glendora Loan Modification Help, Glendora Short Sales, Glendora Short Sale Realtor Glendora CA Short Sales. Glendora Realtor.

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

Important Notice

Ryan Ottosen, Coldwell Banker Millennium, 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?

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.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. 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 Ryan’s personal views and do not reflect the views of Coldwell Banker Millennium.

This information on Glendora Short Sale Myth: The bank wants a deficiency on the short sale so I can get out of it by letting them foreclose is provided as a courtesy to our viewers to help them make informed decisions.

Glendora Short Sales: What Do Lenders Consider A Legitimate Hardship For A Short Sale?

July 8, 2011
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Glendora CA –We had a question about FHA short sales yesterday. We did some research on FHA short sales as a result. We stumbled upon something interesting.

We have a list of all of the things that FHA considers legitimate hardships for a short sale. Click here to view the actual list from FHA. The good news is that if FHA considers something a hardship, then it is likely that most lenders agree.

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

Here is the list of things that FHA thinks are a legitimate hardship for a short sale.

* Death of Principal Mortgagor.

* Illness of Principal Mortgagor.

* Illness of Mortgagor’s Family Member. Extraordinary medical expenses are part of the equation.

* Death of Mortgagor’s Family Member. Extraordinary expenses are part of the rational.

* Marital Difficulties.

* Reduction in income.

* Excessive Obligations. No loss of income. To quote FHA, “The delinquency is attributable to the mortgagors(s) having incurred excessive debts(either in a single instance or as a matter of habit) that prevent him or her from making payments on both those debts and the mortgage debt.”

Job Transfer.

* A Problem with the property such as poor quality construction, expensive repairs being needed, etc.

* Inability to Rent Property.

* Military Service where the person can’t afford their house because their paycheck won’t enable them to cover the payment.

* Unemployment / Job Loss.

* Business failure.

* High Energy Costs. Your income and everything else stays the same, but your utility bill shoots thru the roof. To quote FHA, “All other factors remained the same, but sharp increase in utility cost(s) deferred funds that would have been available for the mortgage payment or costs associated with the removal of environmental hazards in, or near the property.”

* Payment Adjustment. To quote FHA, “Delinquency began after either increase in P&I for ARM mortgage or after escrow analysis where one or more escrow item increased, including the spreading of the amount needed to repay an escrow shortage over the next year.”

* Incarceration.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Ryan@GlendoraRealEstate.org. 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 (626) 991-2156

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

Thinking about a loan modification? Our Glendora 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, Ryan Ottosen.

Ryan is a Real Estate Agent at Coldwell Banker Millennium. Glendora Short Sales Realtor:

Phone: (626) 991-2156. Ryan@GlendoraRealEstate.org.

Turning A “Positive” Out of A Negative

View My homes for sale at www.RealEstate2Rentals.com.

Ryan Ottosen specializes in loan modification assistance and short sales in Glendora California. Glendora Loan Modification Help, Glendora Short Sales, Glendora Short Sale Realtor Glendora CA Short Sales. Glendora Realtor.

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

Important Notice

Ryan Ottosen, Coldwell Banker Millennium, 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?

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.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. 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 Ryan’s personal views and do not reflect the views of Coldwell Banker Millennium.

This information on Glendora Short Sales: What Do Lenders Consider A Legitimate Hardship For A Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Glendora Short Sale Myth: I Have To Go Thru The Loan Mod Process Before I Can Short Sell

July 7, 2011
Comments 0


Glendora CA – The Stop Foreclosure Institute recently received a question from Tonia about short sales. Apparently Tonia has been mislead by her lender.

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

Here is Tonia’s question about short sales. “I’ve been trying to sell my house for over a year now and have since remarried and moved into my husband’s house.

I told the realtor I am willing to do a short sale so she called my mortgagor (short sale dept) and they said to just send in the bid. Well, they received a bid but will not accept it.

They said it is because I haven’t gone through the loan modification process that FHA loans have to go through first before a short sale can be done. I don’t want to modify my loan. I want to be dismissed from it.

I’m current on my payments because the same guy told me that I could be current and still do a short sale which it isn’t sounding like now. Any advise would be great.

My house payment is due next week and if it is going to take me not making payments to get this short sale through I won’t make them. Tonia.”

Here was our response to Tonia. It sounds like you are being mislead. FHA issues guidelines to lender’s that handle their loans. Their guidelines say nothing about a loan modification having to be done first.

You can look up the guidelines for FHA Short Sales. Just google: “Mortgagee Letter 2008-43. I have read thru this countless times and didn’t remember a requirement for a loan modification first.

I just scanned thru it again and didn’t see it this time. I do remember we go into this same argument with another short sale negotiator. They said we had to go thru the loan mod process before they could process the short sale.

We told them we had read thru the entire letter and knew it didn’t have that requirement. They backed off and processed the short sale. You just have to be firm.

And if they aren’t following FHA’s rules, then call up FHA and let them know. FHA may fine them for breaking the rules.

Thinking about a loan modification?Our Glendora loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at Ryan@GlendoraRealEstate.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 Ryan@GlendoraRealEstate.org. 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 (626) 991-2156

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

Thanks for reading this, Ryan Ottosen.

Ryan is a Real Estate Agent at Coldwell Banker Millennium. Glendora Short Sales Realtor:

Phone: (626) 991-2156. Ryan@GlendoraRealEstate.org.

Turning A “Positive” Out of A Negative

View My homes for sale at www.RealEstate2Rentals.com.

Ryan Ottosen specializes in loan modification assistance and short sales in Glendora California. Glendora Loan Modification Help, Glendora Short Sales, Glendora Short Sale Realtor Glendora CA Short Sales. Glendora Realtor.

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

Important Notice

Ryan Ottosen, Coldwell Banker Millennium, 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?

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.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. 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 Ryan’s personal views and do not reflect the views of Coldwell Banker Millennium.

This information on Glendora Short Sale Myth: I Have To Go Thru The Loan Mod Process Before I Can Short Sell is provided as a courtesy to our viewers to help them make informed decisions.

Glendora Short Sale Myth: If I Sell For More, Then I Won’t Have A Deficiency

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Glendora CA – Some sellers think that if they sell their house for more money, then they are less likely to have a deficiency. Let me explain why that is not true.

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

Another realtor recently told us about a short sale they were involved in. This realtor was representing the buyers purchasing the house.

The short sale negotiation company the sellers were using told the sellers that unless the house sold for $295,000, then the sellers would have a short sale deficiency.

Because of this, the sellers wouldn’t accept the buyer’s offer. I told them that couldn’t be true. Here is how short sale negotiations work.

A lender is losing money on a short sale. In most cases, they are losing a lot of money.

Losing just a little bit more money is not going to cause them to change their mind on whether or not they should pursue a deficiency.

A sales price that is $17,000 lower is trivial when compared to a $100,000 loss. Stop Foreclosure Institute Members have negotiated hundreds of short sales.

In most cases, the lender is either pursuing a deficiency or not pursuing one. A slightly higher sales price won’t change their mind either way.

They will either accept the short sale offer on the table, or counter at a price they will accept. They will pursue a deficiency even if the property sells for more money.

Thinking about a loan modification?Our Glendora loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at Ryan@GlendoraRealEstate.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 Ryan@GlendoraRealEstate.org. 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 (626) 991-2156

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

Thanks for reading this, Ryan Ottosen.

Ryan is a Real Estate Agent at Coldwell Banker Millennium. Glendora Short Sales Realtor:

Phone: (626) 991-2156. Ryan@GlendoraRealEstate.org.

Turning A “Positive” Out of A Negative

View My homes for sale at www.RealEstate2Rentals.com.

Ryan Ottosen specializes in loan modification assistance and short sales in Glendora California. Glendora Loan Modification Help, Glendora Short Sales, Glendora Short Sale Realtor Glendora CA Short Sales. Glendora Realtor.

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

Important Notice

Ryan Ottosen, Coldwell Banker Millennium, 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?

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.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. 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 Ryan’s personal views and do not reflect the views of Coldwell Banker Millennium.

This information on Glendora Short Sale Myth: If I Sell For More, Then I Won’t Have A Deficiency is provided as a courtesy to our viewers to help them make informed decisions.

Yes, a Glendora Short Sale May Actually Help Your Credit

July 6, 2011
Comments 0

Glendora CA – The Stop Foreclosure Institute recently received an e-mail from a recent short sale seller. We had helped him short sale his house.

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

Here is his e-mail.

“Hi, I hope all is well. I am getting back to you on my credit scores. My score went from 663 in Feb. to 770 in June.

I know this is counter intuitive but must be because my outstanding debts were reduced. I am happy with this. Julio. “

I agree with him. I think the reduction in debt actually helped his credit score. We see so many people that are leveraged over their head. They keep paying everything on time because they don’t want back credit.

But, they can’t get a loan because they owe too much money. So even thought their credit is good, they still can’t get a loan. That’s crazy! Don’t you agree?

Our theory is that this guy falls into that category. When he short sold his house, it actually helped out his credit rating because it erased so much debt.

Yes, how much debt you have does make up part of your credit rating. The credit bureaus won’t tell exactly how much it affects your score. But, it does affect it.

So, a short sale might actually help your credit score. E-mail us if you know of any other stories like this.

Thinking about a loan modification?Our Glendora loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at Ryan@GlendoraRealEstate.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 Ryan@GlendoraRealEstate.org. 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 (626) 991-2156

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

Thanks for reading this, Ryan Ottosen.

Ryan is a Real Estate Agent at Coldwell Banker Millennium. Glendora Short Sales Realtor:

Phone: (626) 991-2156. Ryan@GlendoraRealEstate.org.

Turning A “Positive” Out of A Negative

View My homes for sale at www.RealEstate2Rentals.com.

Ryan Ottosen specializes in loan modification assistance and short sales in Glendora California. Glendora Loan Modification Help, Glendora Short Sales, Glendora Short Sale Realtor Glendora CA Short Sales. Glendora Realtor.

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

Important Notice

Ryan Ottosen, Coldwell Banker Millennium, 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?

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.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. 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 Ryan’s personal views and do not reflect the views of Coldwell Banker Millennium.

This information on Yes, a Glendora Short Sale May Actually Help Your Credit is provided as a courtesy to our viewers to help them make informed decisions.

Glendora Short Sales: Is My Hardship Legitimate For A Short Sale?

June 20, 2011
Comments 0

Glendora CA – The Stop Foreclosure Institute recently received a question from Dan. Here was Dan’s Question.

“I recently purchased another home and tried to sell my former home. It isn’t selling and I can’t afford to make both payments. The home won’t rent for even 1/2 of the mortgage payment.

An agent told me the house is worth about $50K under the mortgage amount. Is it realistic for me to try the short sale? The only hardship created was when I decided to move to a larger home for family. Dan.”

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

Here was our answer to Dan’s Question.

Dan, I think you can short sale your house. Do you have a legitimate hardship?

I know you said you needed a larger house. However, if you also moved for a job transfer, then most lenders would consider that a legitimate hardship.

A hardship is not black and white. Some lenders would consider your situation a hardship. More often than not they will approve the short sale.

Others would not and won’t work with you on a short sale. In addition, the lender may not work with you until you have missed a payment or two.

Whether or not you miss a payment is your decision. You should weigh your options and decide whether or not you can live with the resulting credit damage.

Many lenders will work with you on a short sale even before you have missed a payment. If you were working with us, then we would help you. But, we would have the expectation that it would be a 6-12 month process.

Make sure that you work with a competent short sale agent. Look for someone that is a short sale expert. Ask them how many short sales they have sold.

Ask them if they have worked with your lender in the past. Then you will be able to judge whether they are qualified to help you.

Thinking about a loan modification?Our Glendora 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 Ryan@GlendoraRealEstate.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 Ryan@GlendoraRealEstate.org. 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 (626) 991-2156

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

Thanks for reading this, Ryan Ottosen.

Ryan is a Real Estate Agent at Coldwell Banker Millennium. Glendora Short Sales Realtor:

Phone: (626) 991-2156. Ryan@GlendoraRealEstate.org.

Turning A “Positive” Out of A Negative

View My homes for sale at www.RealEstate2Rentals.com.

Ryan Ottosen specializes in loan modification assistance and short sales in Glendora California. Glendora Loan Modification Help, Glendora Short Sales, Glendora Short Sale Realtor Glendora CA Short Sales. Glendora Realtor.

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

Important Notice

Ryan Ottosen, Coldwell Banker Millennium, 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?

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.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. 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 Ottosen’s personal views and do not reflect the views of Coldwell Banker Millennium.

This information on Glendora Short Sales: Is My Hardship Legitimate For A Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

How A Glendora Short Sale Helps Preserve Neighborhood Values

Comments 0

Glendora CA – Yes, short sales actually help preserve home values in a neighborhood. Here is why.

Most people short sell their home while they are still living in the home. They are maintaining the home, mowing the yard, keeping the air conditioning on, etc.

Most bank owned properties are empty for 3-6 months, if not longer. No one maintains the home during that time period. Empty homes are easy targets for vandalism and thieves.

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

The grass and yard get overgrown. Pools deteriorate and the water turns green with algae.

In some Southern States, such as Florida, if a home is not air conditioned during the summer, then mold will grow on the walls inside.

In the Northern States, if a home is not heated during the winter, then pipes can ice up and break causing a lot of plumbing damage.

Even things as simple as sprinkler system can have problems when they aren’t used for 3-6 months. A sprinkler system contractor recently told us that if the system isn’t ran at least once a month, then it can have problems.

All these things added together cause bank owned homes to sell for much less than a short sale. That is why you should be proud that you are short selling your house.

You are doing a big part to help keep the housing market and your neighborhood. In addition, you are helping the entire economy because the housing market is such an important part of it.

Thinking about a loan modification?Our Glendora 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 Ryan@GlendoraRealEstate.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 Ryan@GlendoraRealEstate.org. 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 (626) 991-2156

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

Thanks for reading this, Ryan Ottosen.

Ryan is a Real Estate Agent at Coldwell Banker Millennium. Glendora Short Sales Realtor:

Phone: (626) 991-2156. Ryan@GlendoraRealEstate.org.

Turning A “Positive” Out of A Negative

View My homes for sale at www.RealEstate2Rentals.com.

Ryan Ottosen specializes in loan modification assistance and short sales in Glendora California. Glendora Loan Modification Help, Glendora Short Sales, Glendora Short Sale Realtor Glendora CA Short Sales. Glendora Realtor.

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

Important Notice

Ryan Ottosen, Coldwell Banker Millennium, 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?

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.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. 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 Ottosen’s personal views and do not reflect the views of Coldwell Banker Millennium.

This information on How A Glendora Short Sale Helps Preserve Neighborhood Values is provided as a courtesy to our viewers to help them make informed decisions.

Another Common Glendora Short Sale Myth: The Foreclosure Process Goes So Fast That I Don’t Have Time To Short Sale

June 14, 2011
Comments 0

Glendora CA – The Stop foreclosure Institute recently received a question from Susan about short sales. Here was Susan’s Question.

“My home is scheduled to be going on the courthouse steps in about 2 months. I had thought about short selling, but a friend told me I wouldn’t have enough time to do it.

Because of that I didn’t pursue a short sale earlier. Recently I decided to look into it further. It looks like a good option compared to foreclosure. My question is this.

Do I have enough time to short sale my house, or is the foreclosure already too far along? Please let me know. Sincerely, Susan.”

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

Here was our answer. Susan, we can still help you with a short sale. Most lenders will postpone a foreclosure when a short sale offer is in place. Yes, a short sale usually takes 2-6 months to process.

However, many lenders will postpone the sale while a short sale is in the works. In addition, some short sales go faster than the normal 2-6 months.

If your lender owns you loan in house, then the decision maker will be easy to reach. They can approve or deny the short sale in a matter of a week or two.

So, please let us help you. We have a good success rate even when the foreclosure process has already been started. As you well know, a short sale beats a foreclosure because you can buy another home much sooner.

Thinking about a loan modification?Our Glendora 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 Ryan@GlendoraRealEstate.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 Ryan@GlendoraRealEstate.org. 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 (626) 991-2156

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

Thanks for reading this, Ryan Ottosen.

Ryan is a Real Estate Agent at Coldwell Banker Millennium. Glendora Short Sales Realtor:

Phone: (626) 991-2156. Ryan@GlendoraRealEstate.org.

Turning A “Positive” Out of A Negative

View My homes for sale at www.RealEstate2Rentals.com.

Ryan Ottosen specializes in loan modification assistance and short sales in Glendora California. Glendora Loan Modification Help, Glendora Short Sales, Glendora Short Sale Realtor Glendora CA Short Sales. Glendora Realtor.

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

Important Notice

Ryan Ottosen, Coldwell Banker Millennium, 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?

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.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. 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 Ottosen’s personal views and do not reflect the views of Coldwell Banker Millennium.

This information on Another Common Glendora Short Sale Myth: The Foreclosure Process Goes So Fast That I Don’t Have Time To Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Glendora Short Sales: My Ex Is Short Selling. What Can I Do?

June 13, 2011
Comments 0

Glendora CA – The Stop Foreclosure Institute recently received a question from Tom about short sales. Here was Tom’s Question.

“My Ex-wife decided to Short Sell our former house. Unfortunately we both signed the mortgage when we bought the house together. I think that means I am still liable for the debt.

She got the home after the divorce. The court gave her the home in the divorce. The market has declined and the house is worth about 120k less than the mortgage amount.

I have a good job and some assets. Will I have to pay back the bank ofr the money they lose. (My ex is selling because of financial problems.)

Also, someone said I might have to pay income taxes on the written off debt. Is that true? Please help me out here. Sincerely, Tom.”

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

Here was our answer. Tom, you probably should talk to a good lawyer. This is not the standard short sale. There might be tax laws that will allow you to not be liable for the tax liability on the written off debt.

In my opinion, the Tax Law allows you to write off most of the forgiven debt on a short sale. You have to short sell the house before the end of 2012 and have lived there for 2 of the last 5 years.

Your ex probably meets that criterion. I would think that since she lives in the house, then you wouldn’t be liable for the taxes. But, then again, I am not an accountant and don’t know how the law would affect such a unique situation.

Will you have a deficiency judgment? We can’t know for sure because there are so many variables involved. However, in about 80% to 90% of the time, you won’t have a deficiency.

That is because most lenders just forgive the debt. They have found it tough to collect the upside down debt. Most people are short selling because of financial problems.

They are struggling to avoid bankruptcy without a large deficiency judgment. When they see a $100,000 deficiency, then they will probably just declare bankruptcy. Then the lenders gets nothing anyways.

Check with a competent short sale realtor in your area. They will be able to give you a good idea of whether or not you will have to pay the deficiency.

Thinking about a loan modification?Our Glendora 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 Ryan@GlendoraRealEstate.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 Ryan@GlendoraRealEstate.org. 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 (626) 991-2156

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

Thanks for reading this, Ryan Ottosen.

Ryan is a Real Estate Agent at Coldwell Banker Millennium. Glendora Short Sales Realtor:

Phone: (626) 991-2156. Ryan@GlendoraRealEstate.org.

Turning A “Positive” Out of A Negative

View My homes for sale at www.RealEstate2Rentals.com.

Ryan Ottosen specializes in loan modification assistance and short sales in Glendora California. Glendora Loan Modification Help, Glendora Short Sales, Glendora Short Sale Realtor Glendora CA Short Sales. Glendora Realtor.

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

Important Notice

Ryan Ottosen, Coldwell Banker Millennium, 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?

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.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. 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 Ottosen’s personal views and do not reflect the views of Coldwell Banker Millennium.

This information on Glendora Short Sales: My Ex Is Short Selling. What Can I Do? is provided as a courtesy to our viewers to help them make informed decisions.

Three Ways The Big Banks Could Stabilize Housing Prices And Increase Their Profits At The Same Time

June 10, 2011
Comments 1

Glendora CA – Many Americans are concerned about the housing market. If they housing market continues to decline, then it could drag the entire economy with it. At least that’s what some economists are saying.

We want to be part of the solution, not part of the problem. So, we decided to propose a solution

Here Are 3 Ways The Big Banks Could Stabilize Housing Prices And Increase Their Profits At The Same Time.

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

#1: Approve more Loan Modifications. Every loan modification is one less home that has to be sold as a distress sale. Distress sales are dragging down home prices.

In addition, many loan mods are rejected, only to see the lender lose even more money when the home sells. Here is an example. A homeowners offers to pay their lender an amount equal to a $300,000 mortgage.

That means the homeowner would pay the same as someone borrowing $300,000 to buy a home. The lender rejects their loan mod offer and forecloses on the home. It sells for $200,000.

Don’t kid yourself, this happens every single day. The loan owners lose millions as a result.

#2: Make short sales easier. Yes, short sales do close. But, many don’t. The ones that don’t are usually sold for less money as a foreclosure. An extreme example is a home that received a $380,000 offer as a short sale.

The lender rejected the short sale. The home was foreclosed upon and sold for $230,000. The reason that lenders usually lose more money on foreclosure compared to short sales.

First, most foreclosures are usually left empty for several months. Mold, mildew, and other things make the home undesirable.

Second, most foreclosures are taking 18 months or more. That is a lot of time that a home can sit empty. In addition, interest, attorney fees, unpaid property taxes and other costs are growing each day.

#3: Handle foreclosures better. We have seen many foreclosed homes sit empty for months and months. In one extreme example, a foreclosed home has been sitting empty for over 2 years.

(The picture above is the front of that home.)

In that time period local housing prices have dropped by 20-30%. Interest and property taxes have accrued over those two years.

Here is how banks could do a better job handling foreclosures.

First, put all foreclosures on the market within a week. There are a lot of hungry, aggressive real estate agents that would love to market these properties.

Put them to work getting the homes sold for top dollar as quickly as possible. The typical 2-3 month wait it not acceptable, especially with all the hard working agents available.

Second, maintain the vacant homes. The home pictured above is wide open. The doors are not locked. Anyone can walk right in and vandalize the place.

I have seen profanities spray painted on the walls of vacant, bank owned homes. Think that affects the sale price?

These are just a few ideas. The next time you hear your local banker tell you how they “care”, ask them how their bank is handling the recommendations in this blog post.

To us, a banker telling us about how they supposedly “care” just rings of hypocrisy. And it will ring of hypocrisy as long as these problems continue to hurt homeowners, the housing market, and the American Economy.

Thinking about a loan modification?Our Glendora 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 Ryan@GlendoraRealEstate.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 Ryan@GlendoraRealEstate.org. 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 (626) 991-2156

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

Thanks for reading this, Ryan Ottosen.

Ryan is a Real Estate Agent at Coldwell Banker Millennium. Glendora Short Sales Realtor:

Phone: (626) 991-2156. Ryan@GlendoraRealEstate.org.

Turning A “Positive” Out of A Negative

View My homes for sale at www.RealEstate2Rentals.com.

Ryan Ottosen specializes in loan modification assistance and short sales in Glendora California. Glendora Loan Modification Help, Glendora Short Sales, Glendora Short Sale Realtor Glendora CA Short Sales. Glendora Realtor.

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

Important Notice

Ryan Ottosen, Coldwell Banker Millennium, 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?

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.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. 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 Ottosen’s personal views and do not reflect the views of Coldwell Banker Millennium.

This information on Three Ways The Big Banks Could Stabilize Housing Prices And Increase Their Profits At The Same Time is provided as a courtesy to our viewers to help them make informed decisions.

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