Orlando FL – A large national bank did a lousy job on a short sale file. We waited 90 days for an answer on an offer. The buyer got impatient and walked.

We had a backup buyer. But, instead of reviewing the new offer, the short sale negotiator closed the file. The owner of the loan, Freddie Mac, lost around $1,800 in interest on the 90 days that elapsed.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

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

Your agent should fax congress if you bank is unwilling to work with them on a short sale. The majority of all loans are federally insured or guaranteed.

Examples are Fannie Mae owned loans, Freddie Mac owned loans, FHA insured loans, VA insured Loans, and even USDA insured loans.

This 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. Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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.

Thinking about a loan modification? Our Orlando 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, 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 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 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 Gitta’s personal views and do not reflect the views of Keller Williams Heritage Realty .

This information on I Sent Everyone In Congress A Fax About Orlando Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

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Orlando FL – Why does a British Bank do a better job than the American Banks?

We have always liked short sales with HSBC. They respond promptly and are easy to work with. The bottom line is that they do a solid, competent job handling short sales and loan modification.

I think the reason is because they never got a bailout from Uncle Sam. If they are incompetent, then themselves and their stockholders take the loss.

Menawhile, the large American Banks are awful to work with. I have countless stories of real estate agents working on a large national bank’s short sales for 6-9 months with no answer.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Want an answer to an e-mail? Be prepared to wait 1-2 weeks for that. The people are all overworked. In my opinion, the reason these companies don’t care is because they don’t own the loans.

For example, Bank of America only owns 20% of the loans they handle. And a lot of that 20% are probably guaranteed by the government because of their purchase of Countrywide.

Contrast this with HSBC. They own most of their loans. That means they are the ones losing money. I couldn’t find HSBC ever getting a bailout on the bailout search page. They have a well run bank.

All of their loan mods, short sales, and foreclosures are handled properly. Here is why. They are acting as a principal. If they do a lousy job, then they lose the money themselves.

On 80% of Bank of America’s loans, someone else is losing the money. That is why there is no sense of urgency at Bank of America. It’s like monopoly money.

Do you think a teenage kid is going to “hot rod around” in his Dad’s fancy sports car? Come on! We all know his Dad will treat his car a lot better than his kid will.

So, we can agree that people do a better job if their own money is on the line. The big banks are handling other people’s money. There is no accountability.

The investors just hear that the market is bad. They don’t know that that is only half the story. At HSBC, if the short sale department does a lousy job, then it affects HSBC’s quarterly statement.

If things go bad, then people are held accountable. In my opinion, there is nothing of the sort happening at American Banks such as Bank of America or JP Morgan Chase.

It’s kind of sad that a foreign company does a better job than an American Company. Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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.

Thinking about a loan modification? Our Orlando 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, 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 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 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 Gitta’s personal views and do not reflect the views of Keller Williams Heritage Realty .

This information on Why Be Responsible When You Can Get A Bailout? is provided as a courtesy to our viewers to help them make informed decisions.

Orlando FL – The Stop Foreclosure Institute recently received a question from James. Here was his question.

A bank should accept your short sale when the following rules apply. All banks and servicers have a fiduciary duty to the investor of the loan.

If they own the loan themselves, they have a fiduciary duty to their stockholders. The duty is to get that investor the most money possible. So, a lender should accept an offer if it will net the most money.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Your only job is to prove that to the negotiator. Do that by showing them that the property has been on the open market for 60-90 days. We need to be able to show that the house was easy for buyers to see and other agents to show.

Tell the lender the following, “I have an experienced agent selling my home. It has been on the market for X days. I have lived there the entire time and kept up on the house. It looks good.

43 buyers have looked at the home since then. Out of that, only 3 buyers expressed interest. Out of those 3 buyers, the current buyer is the one willing to pay the most money. My agent is doing a great job marketing my home.

With the current foreclosure case status, the home won’t be foreclosed until June or July. When you foreclose on the house, I will move out. The house won’t be kept up anymore.

The new agent will be working on 20 other homes and won’t promote the home as well as my current agent. This means there will be less buyers looking for a home.

Do you honestly think the home is going to sell for more money then? Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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.

Thinking about a loan modification? Our Orlando 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, 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 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 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 Gitta’s personal views and do not reflect the views of Keller Williams Heritage Realty .

This information on When A Bank Should Approve A Orlando Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Orlando FL – The Stop Foreclosure Institute recently received a question from James. Here was his question.

“We are in the middle of a very long negotiation with a large national lender.

I had my agent put a clause into the contract stating “upon approval of short sale by sellers’ lender, lenders, & or affiliates, client, or heirs will be released from any monetary shortages or deficiencies from said sale of stated property upon successful closing and transfer of title from that date and forevermore.”

The short sale negotiator, Nathan, has advised my agent that he will reject the file and close it out if we don’t remove this from the contract. What do you think?

After reading your comments, I am not sure of what will happen. How should I pursue this? James.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to his question. I think the negotiator is getting his ego involved. Many loan owners waive promissory notes. He is out of line (and breaching his lender’s fiduciary duty to the loan owner) if the following applies:

1. If it is the investor’s policy to not pursue a deficiency.

2. If accepting this short sale will net the investor more money than a foreclosure.

Do these two things apply? You and I don’t have millions of dollars to pursue a lawsuit, but we can contact the loan owner directly to let them know what is happening.

If they are going to lose money not accepting the short, then they need to know about what this lender is doing.

Now, the negotiator has the authority to demand a promissory note depending upon who the owner of the loan is. Find out who owns the loan.

Fannie Mae, Freddie Mac, FHA, and VA will let the borrower go free from all future liability. Obviously that doesn’t apply if there is Mortgage Insurance.

Find out if any of those entities owns or insures the loan. Then tell the negotiator that you will be contacting them directly. Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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.

Thinking about a loan modification? Our Orlando 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, 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 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 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 Gitta’s personal views and do not reflect the views of Keller Williams Heritage Realty .

This information on Orlando Short Sales: Why Won’t My Lender Allow Me To Walk Away With No Deficiency? is provided as a courtesy to our viewers to help them make informed decisions.

Orlando FL – The Stop Foreclosure Institute recently received a question from David. Here was his question.

“I lost my job and am burning up my savings very fast. At the current rate I will only be able to pay my mortgage for a few months more. My lender won’t talk to me about a short sale because I am current on the payments.

I am trying to maintain my credit and don’t understand why they won’t consider a short sale until I am delinquent on payments. What is going on? David.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to his question. Some banks just won’t consider a short sale until you a behind on payments. It’s just the way it is.

In my opinion, if you are not employed then saving money is more important than salvaging your credit. Perfect credit won’t do much good when you can’t afford to keep food on the table or pay the light bill.

But, you need to make a decision based on what is most important to you. I can’t make that decision for you. I will tell you that I would save my cash until I got a job.

The foreclosure process will drag out for 6-12 months in most states. You can live rent free until you short sale. Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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.

Thinking about a loan modification? Our Orlando 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, 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 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 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 Gitta’s personal views and do not reflect the views of Keller Williams Heritage Realty .

This information on Orlando Short Sales: Why Won’t My Lender Allow Me To Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Orlando FL – Many lenders do not own the loans they handle. Instead, they are paid by the actual loan owner to collect payment.

In my opinion, the banks make millions by understaffing their foreclosure departments? Here’s a real life example. A bank forecloses on a house and waits for over a year to list it for sale.

A year sitting in disrepair causes the home to sell for $30,000 less. But, the lender makes more money. Why? They might save $100 million by understaffing the department that handles delinquent properties.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here are a few examples of how the owners of a loan lose money because the lenders don’t do their job.

Example #1: Not giving buyers and answer on a short sale within one week. We took over a short sale from another agent. A buyer came along willing to pay 150k. They had been told they could buy it at that price for 150k, because the owner owed less than that.

When they found out it was a short sale they decided to walk. This was because they didn’t want to wait for 90 days. We told them they could buy it for 140k, if they waited for the 90 days.

They decided to stay on board. Wells Fargo accepted the short sale, but countered at a price of $141,500. The investor on the loan lost $8,500.

Example #2: Not following up on foreclosures properly. I drove past an abandoned house every day for a year. I looked up the owner to see if they might want to sell the house.

That’s when I saw that the home had been foreclosed on February 4th, 2009. In July 2009, we talked to Ann Rafferty at Bank of America’s, Simi Valley California office.

She told us that they were servicing this loan. She said if I had a buyer, I would need to contact the homeowner. “It’s not owned by us. You need to contact the homeowner if you want to sell the house. The property has not gone to foreclosure sale,” she said.

We told her the house had already been foreclosed upon. We asked her if they ever communicated with the foreclosure lawyers.

“That’s interesting,” she replied. “My records show it hasn’t gone to foreclosure. I’ll check in with the foreclosure department and verify whether it has or hasn’t been foreclosed upon.”

We asked another agent what he had thought the house would have sold for previously. We both agreed that if the house had been listed in April 2009, that it would have sold quickly for between $140,000 and $150,000.

Today homes similar to this one are selling for $70,000 to $80,000, depending on the condition. This home is in pretty bad condition. So, we can conservatively estimate the loss because of a reduced selling price to be more than $60,000.

As you can see, lenders are making huge profits at the loan owners expense. Many of those loans are owned or insured by Uncle Sam, and therefore the American Taxpayer. Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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.

Thinking about a loan modification? Our Orlando 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, 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 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 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 Gitta’s personal views and do not reflect the views of Keller Williams Heritage Realty .

This information on Orlando Short Sales: Is It Ethical For Lenders To Make Millions At Your Expense? is provided as a courtesy to our viewers to help them make informed decisions.

Orlando FL – An agent with the Stop Foreclosure Institute recently had a short sale negotiator lie to them. We have spent the last 6 months figuring out all the rules for short sales on different loan types.

The rules are different for an FHA Short Sale, a VA Short Sale, and a Fannie Mae Short Sale. This was an FHA loan. Here’s what happened.

FHA puts out a letter called “Mortgagee Letter 2008-43.” It details exactly how the banks is supposed to handle a short sale on an FHA loan.

This letter is 16 pages long and gives them specific directions on how much to pay agents, what percentage of the appraisal they can accept, etc. (If you’re doing an FHA short sale, then Google “Mortgage Letter 2008-43.”)

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

This agent had had a wretched experience on another FHA short sale. The lender had lied to the seller’s prior agent and hadn’t followed the short sale guidelines.

Because of that experience, this agent had read thru the guidelines 2-3 times. Bottom line, I know a little bit about FHA’s rules for short sales. The problem was this short sale negotiator didn’t want to follow the rules!

Instead she made up her own rules! She told the agent that the buyer and seller had to split the cost of the title insurance. The problem is on page 12 of the Mortgage Letter, it says that they are allowed to approve a file paying the standard title insurance costs.

It was standard for the seller to pay for the title insurance. The buyer pays their closing costs and the title insurance for their lender. But, this negotiator didn’t want to allow that.

The agent had to argue back and forth with her for 2-3 days until she finally relented. Here is the problem I have with these banks.

If your investor gives you specific instructions on how to negotiate a short sale, then follow those instructions! In this case, we agents need to get better at knowing the rules. That way, when an egotistical investor tries to break the rules, you can keep them in line.

If a negotiator is lying to you, then ask for their manager. When you talk to their manager, explain how they are breaking the rules. Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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.

Thinking about a loan modification? Our Orlando 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, 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 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 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 Gitta’s personal views and do not reflect the views of Keller Williams Heritage Realty .

This information on Why Do Orlando Short Sales Negotiators Break The Rules? is provided as a courtesy to our viewers to help them make informed decisions.

Orlando FL – Very few people disagree that banks are not handling the housing crisis properly. Why is it so hard to get a reasonable loan modification?

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Pollution is defined as the following by Wikipedia: “Pollution can be a simple example of market failure. If costs of pollution from a factory are not borne by the factory owner, but instead are borne by the workers or people in the community, then prices are distorted.”

Basically, the factory can pollute at will. Now, let’s take the same sentence and change it to banks.

“Negligence and incompetence can be a simple example of market failure. If a $180,000 loss on a single house are not borne by ABC National Bank, but are borne by Fannie Mae and the American Public, then the decision making process is distorted.”

Over 80% of all loans that major banks have are not owned by the banks. That could be used to argue that the banks are polluting the economy at will. Thinking about a short sale?

I can help you short sale your property and get back on your feet. 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.

Thinking about a loan modification? Our Orlando 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, 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 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 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 Gitta’s personal views and do not reflect the views of Keller Williams Heritage Realty .

This information on Orlando Short Sales: Are Banks Polluting The Economy? is provided as a courtesy to our viewers to help them make informed decisions.