Houston TX – Here are two specific examples of big bank’s negligence causing a loan owner to lose money.

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

Example #1: Not giving buyers an answer on a short sale within one week. Home buyers don’t like to wait 3-6 months for an answer on a short sale.

This fact causes many buyers to shy away from short sales, thereby causing short sales to sell for less.

Lenders should help the loan owners recoup as much money as possible from short sales. To do this, they make the short sale approval process as quick as possible.

They could start the property valuation process when the property is put on the market and determine a certain price they would accept.

More buyers would be willing to purchase the property because they know they wouldn’t have to wait 3-6 months for an answer on the short sale.

Example #2: Turning down loan mods that amortize at a higher value than what is netted on a short sale or thru REO. Let me explain a little better.

A lender negotiates a loan mod with a borrower with a new monthly payment of $1,000.

The borrower has a stable income and agrees to pay $1,000 a month for the next 30 years. $1,000 a month for 30 years, at a 6.5% interest rate will repay a $158,210 mortgage.

The servicer turns down the loan mod and forecloses. The house sells for $125,000 as an REO and the servicer nets $115,000. Did the owner of the loan lose money?

I think most people would agree yes. Obviously there are other factors involved, but I think on an actuarial basis they will do better with the loan mod.

Tomorrow I’ll give you a few more examples to digest. 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 michelleggg@gmail.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 832-274-5007

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

Thinking about a loan modification? Our Houston 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, Michelle Gonzales.

Michelle is a Real Estate Agent at RE/MAX 360.

Phone: 832-274-5007. michelleggg@gmail.com.

“Educating the Homeowner, One by One!”

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

Michelle Gonzales specializes in loan modification assistance and short sales in Houston Texas. Houston Loan Modification Help, Houston Short Sales. Houston Short Sale Realtor Houston TX Short Sales. Houston Realtor.

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Important Notice

Michelle Gonzales, RE/MAX 360, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

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

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

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

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

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

The views expressed here are Michelle’s personal views and do not reflect the views of RE/MAX 360.

This information on Two Specific Examples of Big Bank Negligence on Houston Short Sales is provided as a courtesy to our viewers to help them make informed decisions