Orlando Short Sale: Are The Banks Lying To Uncle Sam???

May 24, 2011

Important Notice 

Gitta Urbainczyk, Keller Williams Heritage 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?

Orlando FL – 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 Windermere 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 gitta@gitta.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 at gitta@gitta.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 (407) 330-2181

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

Thanks for reading this, Gitta Urbainczyk.

Gitta is a Real Estate Broker at Keller Williams Heritage Realty . Orlando  Short Sales Realtor:

Phone: (407) 330-2181. gitta@gitta.com.

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

Gitta Urbainczyk specializes in loan modification assistance and short sales in Orlando Florida. Orlando Loan Modification Help, Orlando Short Sales. Orlando Short Sale Realtor. Orlando Short Sale Realtor, Orlando FL Short Sales. Orlando Realtor.

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

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.

The views expressed here are Urbainczyk’s personal views and do not reflect the views of Keller Williams Heritage Realty .

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

Orlando Short Sales: Are Fannie Mae Short Sales Tough?

IMPORTANT NOTICE:
Keller Williams Realty is not associated with the government, and mortgage assistance service is not approved by the government or your lender. Even if you accept this offer and use a mortgage assistance relief service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

Orlando FL – 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 Orlando 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 gitta@gitta.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 at gitta@gitta.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 (407) 330-2181

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

Thanks for reading this, Gitta Urbainczyk.

Gitta is a Real Estate Broker at Keller Williams Heritage Realty . Orlando Short Sales Realtor:

Phone: (407) 330-2181. gitta@gitta.com.

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

Gitta Urbainczyk specializes in loan modification assistance and short sales in Orlando Florida. Orlando Loan Modification Help, Orlando  Short Sales. Orlando Short Sale Realtor. Orlando Short Sale Realtor, Orlando FL Short Sales. Orlando Realtor.

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

Important Notice

Gitta Urbainczyk, Keller Williams Heritage 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?

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

Orlando Short Sale: Can I Rent My Home If It Is In Foreclosure?

May 23, 2011

IMPORTANT NOTICE:
Keller Williams Realty is not associated with the government, and mortgage assistance service is not approved by the government or your lender. Even if you accept this offer and use a mortgage assistance relief service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

Orlando, Fl.  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? 


Orlando FL – 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 Windermere 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 gitta@gitta.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 at gitta@gitta.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 (407) 330-2181

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

Thanks for reading this, Gitta Urbainczyk.

Gitta is a Real Estate Broker at Keller Williams Heritage Realty . Windermere Short Sales Realtor:

Phone: (407) 330-2181. gitta@gitta.com.

What do you recommend

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

Gitta Urbainczyk specializes in loan modification assistance and short sales in Orlando Florida. Orlando Loan Modification Help, Orlando Short Sales. Orlando Short Sale Realtor. Orlando Short Sale Realtor Windermere FL Short Sales. Orlando Realtor.

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

Important Notice

Gitta Urbainczyk, Keller Williams Heritage 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?

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.

The views expressed here are Urbainczyk’s personal views and do not reflect the views of Keller Williams Heritage Realty .

This information on Orlando  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.

Know the Way to Remove Short Sales from Your Credit Report

May 5, 2011

IMPORTANT NOTICE:
Keller Williams Realty is not associated with the government, and mortgage assistance service is not approved by the government or your lender. Even if you accept this offer and use a mortgage assistance relief service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating

You must be aware that short sales adversely affect your credit. The effect of credit ramification and foreclosure is very much alike on your FICO score. The crucial difference between these two is a person’s ability to acquire a home loan. After a short sale, an applicant can get a mortgage loan after 2 years but with a foreclosure on the credit report he has to wait for 3 to 7 years to qualify for a home loan.You should calculate properly. If you have defaulted on your mortgage payment, opt for a debt management plan to avoid foreclosure as that might blemish your credit report.
You should be aware that 90 days late payments on your loaned amount can lower your FICO score. This late payment is equally bad as a short sale or foreclosure itself.
You can hire the services of a credit repair company to remove the adverse impact of short sale credit repair and foreclosure from your credit report. Many people are of the opinion that it is not possible to remove the negative effect.
There can be many loopholes in the Fair Credit Reporting Act. Therefore, attorneys can get effective results to safeguard their clients. According to the FCRA, the negative entries on the credit report need to be confirmed. So, instead of stressing on accuracy make sure that the items are not confirm-able.  It is advisable that you should not try this on your own. In these types of disputes, there are a few detailed lists of items that need to be filed. If you do not have a wide knowledge on it then your creditor might ignore you. Therefore, your attorney’s guidance will be required to get a successful result. Your lawyer can eliminate the impact of a short sale and foreclosure.

Thanks
Sophie