Real Estate Information

Reno NV – The Stop Foreclosure Institute recently received a question from another agent. Here was her question.

"I have a short sale listed. At what time in the short sale process do you stop accepting additional offers for submittal to the lender? If you accept another offer after you've already submitted one to the lender, does it reset your timeline to the beginning?

Do you just put them in backup position? What about the poor buyer whose offer was submitted and has already been waiting for weeks for lender approval?

Do you allow them to match the higher offer? You guys have so much experience, how do you handle this? Thanks! Diane."

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

Here was our answer. It all depends. We like to stay with the original offer if possible. But, we don't always do that. It all depends on what the seller wants to do.

If the bank is asking for a deficiency or promissory note, then the seller may want to submit the higher backup offers. We run this for the sellers and not the buyers benefit. We feel that it is our job is to represent the seller.

If the short sale lender does not like the first offer, then we will submit the next offer. But, if they accept the first offer, then we recommend that the seller go with that one to honor the first buyer.

That buyer has waited the longest and deserves to be rewarded for their patience.

Thinking about a loan modification?Our Reno 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 tahoejg@netzero.com 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 attahoejg@netzero.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 775-530-1728

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

Thanks for reading this, John Graham.

John is a Real Estate Agent at Keller Williams Group One Realty. Reno Short Sales Realtor:

Phone: 775-530-1728. tahoejg@netzero.com.

High Touch - High Tech

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

John Graham specializes in loan modification assistance and short sales in Reno Nevada. Reno Loan Modification Help, Reno Short Sales, Reno Short Sale Realtor Reno NV Short Sales. Reno Realtor.

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

Important Notice

John Graham, Keller Williams Group One Realty, 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 Graham's personal views and do not reflect the views of Keller Williams Group One Realty.

This information on Reno Short Sales: How Do You Handle Multiple Offers? is provided as a courtesy to our viewers to help them make informed decisions.

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.

Reno NV – The Stop Foreclosure Institute recently talked to a homeowner whose home had been sold on the courthouse steps.

We asked if she had considered selling the home as a short sale. “I did, but I heard that short sales are difficult and not worth trying. My friend told me that the banks never approve them”, she told us.

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

After we got off of the phone, we reviewed what she had lost. She lost the opportunity to protect her credit and to be able to buy a home 3 years after the short sale sold.

Now she will have greater credit damage and will have to wait 5-7 years to buy another home. Ouch! All of this could have been avoided if she had known the truth about short sales.

Yes, short sales are approved by banks. Bank CEOs and the people who invest in mortgages prefer them over a foreclosure. Why?

Because the average short sale reduces the lender’s loss by 20-40% compared to a foreclosure. They want to reduce their losses as much as possible.

The banks are just having a hard time handling the huge increase of short sales caused by the housing crisis. But, don’t kid yourself. They wouldn’t be approving any short sales unless there was a big benefit to them financially.

They have analyzed the market and see short sales as a viable way to reduce their losses as much as possible.

Thinking about a loan modification?Our Reno 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 tahoejg@netzero.com 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 attahoejg@netzero.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 775-530-1728

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

Thanks for reading this, John Graham.

John is a Real Estate Agent at Keller Williams Group One Realty. Reno Short Sales Realtor:

Phone: 775-530-1728. tahoejg@netzero.com.

High Touch - High Tech

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

John Graham specializes in loan modification assistance and short sales in Reno Nevada. Reno Loan Modification Help, Reno Short Sales, Reno Short Sale Realtor Reno NV Short Sales. Reno Realtor.

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

Important Notice

John Graham, Keller Williams Group One Realty, 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 Graham's personal views and do not reflect the views of Keller Williams Group One Realty.

This information on Common Reno Short Sale Myth: Short Sales Are Difficult And Banks Never Approve Them is provided as a courtesy to our viewers to help them make informed decisions.

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.

Reno NV – Bank of America is consistently the worst short sale lender we have dealt with. A lot of people sent me e-mails such as the following:

"You need to stop complaining. If you think having to re-open a file is bad, imagine working on a file for 8 months."

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

They have the resources available to make the changes. Bank of America, Wells Fargo, JP Morgan Chase, and Citigroup all issued stock to pay off their bailout.

Paying off the bailout cost all of these banks their fourth quarter, 2009 profit. In addition, they diluted their stock by issuing more shares, which as any person knows drives the share price down.

We can get them to improve their process and response times on loan modifications and short sales. It will take a lot of pressure and lobbying. So, help us out here.

Here is the link to get all the fax numbers for congress. Frustrated about your loan mod? Aggravated with your short sale? Send everyone in congress a fax about it.

Thinking about a loan modification?Our Reno 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 tahoejg@netzero.com 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 attahoejg@netzero.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 775-530-1728

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

Thanks for reading this, John Graham.

John is a Real Estate Agent at Keller Williams Group One Realty. Reno Short Sales Realtor:

Phone: 775-530-1728. tahoejg@netzero.com.

High Touch - High Tech

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

John Graham specializes in loan modification assistance and short sales in Reno Nevada. Reno Loan Modification Help, Reno Short Sales, Reno Short Sale Realtor Reno NV Short Sales. Reno Realtor.

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

Important Notice

John Graham, Keller Williams Group One Realty, 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 Graham's personal views and do not reflect the views of Keller Williams Group One Realty.

This information on Reno Short Sale: How To Send A Fax To Everyone In Congress is provided as a courtesy to our viewers to help them make informed decisions.

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.

Reno NV – We recently send everyone in congress a fax about a certain large bank. They had done a lousy job on a short sale file. We waited 90 days for an answer on an offer.

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

The buyer got impatient and walked. Fortunately we had a backup buyer. Instead of using the BPO that Freddie Mac paid for and reviewing the new offer, the negotiator closed the file.

Freddie Mac, the owner of the loan, stands to lose $75 spent on the BPO and 90 days worth of interest. We estimate Freddie's loss over the delay to be around $1,249.

Rather than just sit here and take abuse, we decided to stand up for ourselves. We found the entire list of fax numbers for congress, typed up a fax, and sent it out.

If you loan mod is taking too long, then fax everyone in congress. Most many loans are federally insured or guaranteed. Examples are loans owned by Fannie Mae or Freddie Mac or insured by FHA, VA, and USDA.

Uncle Sam is the backstop for a huge percentage of American Home Loans. That leaves these banks and servicers open to huge liability.

If they mess up on a federally owned or insured mortgage, they are causing Uncle Sam to lose money. Send a fax and contact your congressperson and/or senators and let them know what is happening.

Thinking about a loan modification?Our Reno 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 tahoejg@netzero.com 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 attahoejg@netzero.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 775-530-1728

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

Thanks for reading this, John Graham.

John is a Real Estate Agent at Keller Williams Group One Realty. Reno Short Sales Realtor:

Phone: 775-530-1728. tahoejg@netzero.com.

High Touch - High Tech

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

John Graham specializes in loan modification assistance and short sales in Reno Nevada. Reno Loan Modification Help, Reno Short Sales, Reno Short Sale Realtor Reno NV Short Sales. Reno Realtor.

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

Important Notice

John Graham, Keller Williams Group One Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Graham's personal views and do not reflect the views of Keller Williams Group One Realty.

This information on Reno Short Sale: Sick Of Your Loan Mod Taking Forever? Why Not Contact Congress? is provided as a courtesy to our viewers to help them make informed decisions.

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

Reno NV – The Stop Foreclosure Institute recently received a question from Brandon. Brandon is selling his house and something very interesting happened.

Brandon’s Question: "My loan is with American Home Mortgage (AHMSI for short.) They are charging a 1% short sale processing fee to the buyer. Is that legal? The buyer is upset. They have stipulated that ONLY the buyer can pay the fee. This was never revealed until the short sale approval letter arrived. Brandon."

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

Our comments on this. Yes, the buyer is upset. Buyers think they are in control in today's market. They can't see why they should pay a fee if they are buying a house in a "Buyer's Market."

Is it legal? We did a short sale with AHMSI and they said their lawyers had checked it out and confirmed that it is legal. So, it probably is.

We checked with Brandon and found out a little more information. Turns out the loan is owned by Deutsche Bank. We convinced AHMSI to waive the fee on that short sale.

We threatened to contact Deutsche Bank and let them know what was happening. Sure, it's wrong. But, do you know why AHMSI can get away with it?

It's because the people who own the mortgages don't know about the fee. When you threaten to contact the loan owner, then that changes everything.

Thinking about a loan modification?Our Reno 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 tahoejg@netzero.com 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 attahoejg@netzero.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 775-530-1728

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

Thanks for reading this, John Graham.

John is a Real Estate Agent at Keller Williams Group One Realty. Reno Short Sales Realtor:

Phone: 775-530-1728. tahoejg@netzero.com.

High Touch - High Tech

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

John Graham specializes in loan modification assistance and short sales in Reno Nevada. Reno Loan Modification Help, Reno Short Sales, Reno Short Sale Realtor Reno NV Short Sales. Reno Realtor.

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

Important Notice

John Graham, Keller Williams Group One Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Graham's personal views and do not reflect the views of Keller Williams Group One Realty.

This information on Reno Short Sale: My Lender Is Charging The Buyer A Fee To Buy My House is provided as a courtesy to our viewers to help them make informed decisions.

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

Reno NV – The Stop Foreclosure Institute recently received an e-mail from another real estate agent. They were asking for our advice on a short sale.

They accused a large, national lender (one of the 4 largest in America) of lying to Fannie Mae. Fannie Mae is almost a subsidiary of the Federal Government.

Here was the e-mail they sent us. " The lender told the seller that they had to agree to a deficiency or the short sale would not be approved.

The seller said that was unacceptable. They told us they wouldn't go thru with the short sale unless the deficiency was waived. We notified the short sale negotiator and he sent us a short sale decline letter.

The decline letter says buyer walked. That was a total lie! It appears that this lender told the owner of the loan, Fannie Mae, that the buyer walked when that was not the case.

But, he told us that Fannie Mae was making them do it. I think they are showing this to Fannie Mae to cover their butts! Steve."

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

Our comments on this. This is a big deal. That lender's legal obligation is to do what is best for Fannie Mae. Short sales usually reduce a lender's losses by 20%, thereby netting Fannie Mae more money.

For this lender to do this is a blatant violation of their legal obligation. Fannie Mae's policy is to not pursue short sale deficiencies. They just write off the loss and move on. We have sold many short sales where Fannie Mae waived their deficiency rights.

I think the short sale negotiator's ego is getting in the way of a deal. They are probably delegated for Fannie. This means Fannie tells them to do whatever they want on behalf of Fannie.

The person not willing to waive the deficiency is this short sale negotiator. This is pathetic and should be investigated.

There is a solution to the problem. I would recommend calling Fannie Mae directly and let them know what is going on.

Thinking about a loan modification?Our Reno 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 tahoejg@netzero.com 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 attahoejg@netzero.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 775-530-1728

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

Thanks for reading this, John Graham.

John is a Real Estate Agent at Keller Williams Group One Realty. Reno Short Sales Realtor:

Phone: 775-530-1728. tahoejg@netzero.com.

High Touch - High Tech

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

John Graham specializes in loan modification assistance and short sales in Reno Nevada. Reno Loan Modification Help, Reno Short Sales, Reno Short Sale Realtor Reno NV Short Sales. Reno Realtor.

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

Important Notice

John Graham, Keller Williams Group One Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Graham's personal views and do not reflect the views of Keller Williams Group One Realty.

This information on Reno Short Sale: Are The Banks Lying To Uncle Sam is provided as a courtesy to our viewers to help them make informed decisions.

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

Reno NV – The Stop Foreclosure Institute recently received a question about renting a home in foreclosure.

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

Here was our answer to them. The Stop Foreclosure Institute is not a law firm. Therefore, we can’t answer as to whether or not it is legal. We recommend that you check with a lawyer before making a decision.

We do know that there are laws forbidding that practice in many states. For example, Florida recently passed a law that stated that you had to notify any potential renter whether or not the home was in foreclosure before renting.

From what we have heard about the law, if you lease a property in foreclosure and don't tell the tenants, then it is a criminal offense.

If it was a problem in Florida, then it was a problem in other states and they probably passed similar laws. We have seen cases in the past where a homeowner sold their home as “Owner Financing.

The home was in foreclosure and buyers filed a police report. The sheriff’s office investigated the homeowner for fraud. The people who thought they were buying the home paid the owner a large down payment.

They didn’t know the home was in foreclosure. He disappeared with their money and they were kicked out by the bank.

We don’t know what ended up happening. The bottom line is that anything fishy can have future repercussions. So check with a lawyer to make sure you won’t have any problems.

Thinking about a loan modification?Our Reno 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 tahoejg@netzero.com 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 attahoejg@netzero.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 775-530-1728

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

Thanks for reading this, John Graham.

John is a Real Estate Agent at Keller Williams Group One Realty. Reno Short Sales Realtor:

Phone: 775-530-1728. tahoejg@netzero.com.

High Touch - High Tech

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

John Graham specializes in loan modification assistance and short sales in Reno Nevada. Reno Loan Modification Help, Reno Short Sales, Reno Short Sale Realtor Reno NV Short Sales. Reno Realtor.

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

Important Notice

John Graham, Keller Williams Group One Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Graham's personal views and do not reflect the views of Keller Williams Group One Realty.

This information on Reno Short Sale: Can I Rent My Home If It Is In Foreclosure? is provided as a courtesy to our viewers to help them make informed decisions.

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

Short Sale Question: I am selling 2 of homes that are short sales. I would like to rent the homes during the foreclosure process. I will continue to pay the home owners association fees. I will not be paying the mortgage.

Is it legal to do this? Is there any liability that comes with it?

Reno NV – Another agent recently e-mailed the Stop Foreclosure Insitute. They were having a hard time with a short sale on a Fannie Mae Loan.

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

Here is an excerpt from the agent's e-mail.

"I spoke with Josh @ Fannie Mae. He said that once there is a foreclosure sale, per an agreement with lender, Fannie Mae would pay the lender the full balance of the note.

I started to comment that what incentive is there for the lender to process a short sale. He said I know where you’re going with that and we couldn't comment.

It appears that the title would be transferred to Fannie Mae and the lender would be reimbursed for the FULL balance of the note. This is crazy! When Fannie Mae is the investor, it seems a JOKE to bother with the short sale!!

My Comments: Fannie Mae short sales are the best and easiest short sales to get approved. This is because Fannie is one of the most reasonable loan owners out there.

The problem is that no one at the lenders really cares. The reason the lender is getting paid off completely is because they already sold the loan to Fannie.

Remember, Fannie was created to free up lender's money. That way lenders could go make more loans. The problem is that Fannie has entrusted their investment to these lenders. Let me explain.

Here is how I see it. It's a huge win for a lender to under staff the departments handling their loan.

Their business model is to grant loans and sell them to Fannie for a profit. Fannie takes on all the risk and even pays you a monthly payment for collecting the payments

Cut your staff handling their loans to the bone. That way you can make a monthly profit from the monthly Fannie payments. A lender can't lose. You make money granting the loan.

You sell the loan to Fannie for a profit. You make money each month handling the loan for Fannie. At the end of the day, the loan goes bad.

You can't do a competent job negotiating the short sale. Why is that? The reason is you are cutting staff costs. But, you don't lose money from your negligence. Fannie Mae and Uncle Sam do. Sound like a sweet deal?

But, we still love Fannie Mae Short Sales. The Stop Foreclosure Institute has sold countless Fannie Mae Short Sales successfully.

Thinking about a loan modification?Our Reno 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 tahoejg@netzero.com 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 attahoejg@netzero.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 775-530-1728

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

Thanks for reading this, John Graham.

John is a Real Estate Agent at Keller Williams Group One Realty. Reno Short Sales Realtor:

Phone: 775-530-1728. tahoejg@netzero.com.

High Touch - High Tech

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

John Graham specializes in loan modification assistance and short sales in Reno Nevada. Reno Loan Modification Help, Reno Short Sales, Reno Short Sale Realtor Reno NV Short Sales. Reno Realtor.

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

Important Notice

John Graham, Keller Williams Group One Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Graham's personal views and do not reflect the views of Keller Williams Group One Realty.

This information on Reno Short Sale: Are Fannie Mae Short Sales Tough? is provided as a courtesy to our viewers to help them make informed decisions.

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

Reno NV – After yesterday’s blog post, I am sure that some people were wondering why a HELOC gets zero from a foreclosure. Let me explain why.

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

When a property is foreclosed upon, it is auctioned on the courthouse steps. Let me give you a scenario where a homeowner owes the following on the property.

First Mortgage is owed $200,000.

Second Mortgage is owed $40,000.

There is a HELOC (Home Equity Line of Credit) that is owed $100,000. (The home increased in value to $400,000 and a lender agreed to grant the loan.)

So a total of $340,000 is owed on the property. Now, what if it only sells for $150,000 on the courthouse steps. Who gets that $150,000?

The first mortgage does. The second mortgage wouldn’t get a dime unless the property sold on the courthouse steps for more than $200,000. The HELOC wouldn’t get any money unless it sold for more than $240,000.

This is why a second mortgage gets so little money from a foreclosure. Historically, second mortgages were loaned for the top 20% of the property value. The lower 80% was the first mortgage.

In most cases, the attorney fees, foreclosure costs, delinquent property taxes, and other fees would bring the first mortgage’s total up to around 100% of the property value.

This is why in most cases a second mortgage rarely gets any money from a foreclosure. Of course there are other variables that can change things, but this is how it usually works.

Thinking about a loan modification?Our Reno 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 tahoejg@netzero.com 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 attahoejg@netzero.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 775-530-1728

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

Thanks for reading this, John Graham.

John is a Real Estate Agent at Keller Williams Group One Realty. Reno Short Sales Realtor:

Phone: 775-530-1728. tahoejg@netzero.com.

High Touch - High Tech

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

John Graham specializes in loan modification assistance and short sales in Reno Nevada. Reno Loan Modification Help, Reno Short Sales, Reno Short Sale Realtor Reno NV Short Sales. Reno Realtor.

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

Important Notice

John Graham, Keller Williams Group One Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Graham's personal views and do not reflect the views of Keller Williams Group One Realty.

This information on Reno Short Sale: Why Does A HELOC Get Zero From Foreclosure is provided as a courtesy to our viewers to help them make informed decisions.

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

Reno NV – The Stop Foreclosure Institute recently received a question about short sales. Here is the question.

“What is your experience with Chase Heloc's? I have a HELOC that is a 2^nd mortgage. Citi (the 1st) will give them 6% or approximately $3000. Chase's collection agency is saying that they want 30% ($30,000.)

They won't budge. They want this in CASH, not as a promissory note (in case the seller does a bankruptcy.) They are telling me they will just let the house foreclose because that is Chase's policy now. What do you recommend that I do?”

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

Here was our answer to the question. Most third party collection agencies are very tough to negotiate with. They are completely unreasonable.

They are so trained to give ultimatums that they will not budge, no matter how much logic and common sense you bring to them. Here is what you can do.

Go around them. Contact Chase’s CEO. We have been able to contact the CEO of Chase, Jamie Dimon’s Office on other Chase files. Show them that they will receive less in a foreclosure than the $3,000 available now.

Hopefully they will tell the collection agency to approve the $3,000 deal. If that doesn’t work, then ask to speak with a supervisor at the debt collection agency.

Show the how they will actually net zero when the property is foreclosed upon. Tell them that they have to either approve the $3,000 or take zero.

Tell them that rejecting the $3,000 means their client will net zero. Then, tell them that after the property is foreclosed upon, that you will contact their client and let them know how the collection agency’s actions caused them to lose $3,000.

Thinking about a loan modification?Our Reno 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 tahoejg@netzero.com 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 attahoejg@netzero.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 775-530-1728

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

Thanks for reading this, John Graham.

John is a Real Estate Agent at Keller Williams Group One Realty. Reno Short Sales Realtor:

Phone: 775-530-1728. tahoejg@netzero.com.

High Touch - High Tech

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

John Graham specializes in loan modification assistance and short sales in Reno Nevada. Reno Loan Modification Help, Reno Short Sales, Reno Short Sale Realtor Reno NV Short Sales. Reno Realtor.

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

Important Notice

John Graham, Keller Williams Group One Realty, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Graham's personal views and do not reflect the views of Keller Williams Group One Realty.

This information on Reno Short Sale: I’m having a hard time negotiating with a HELOC is provided as a courtesy to our viewers to help them make informed decisions.

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.