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Great video. I am a real estate agent in Montreal Canada and I will folow your videos. I also do international real estate and wondering if you would be interested in doing buisness together?
Wonderful. Clearly informative. I’ve been doing short sales in California for 3 years. It is easier to negotiate a short sale now than it was 3 years ago. Agents: Don’t be intimidated to try a short sale. I had my best training by asking Loss Mitigators themselves. I’m always available for questions.
hello shweamel,
what do you do when the lender wants the sellers to sign a promissory note in the amount of let’s say $10,000.00 to approve the short sale?
Nice job. Good overview of short sales. I especially liked how you included a scenario to walk the viewer through the process.
This is becoming a very popular tactic. If you have a strong case that the sellers simply cannot afford to repay AND the property value is declined/still declining enough to where the lender is going to lose more than the promissory note amount at sale then simply refuse to sign it. WF and CW are especially using this tactic to try and recover some of the loss for their depositors and investors.
I work for OptionNext. We are a nationwide loss mitigation company as well. We can process and mitigate your short-sale, and we never charge the homeowner a cent! We’re paid by the bank, out of the real estate commission. We cosult to realtors and mortgage brokers as well, and make sure that everyone gets paid a fair commission at closing…
my dad is going through hell right now.
we have a women who is interested in buying the house in a short sale are the banks motivated in short sales right now?
the house was bought at 440,000.00 but all the homes in area are valued at 185-220,000.00
now and shes offering 200 do u think the bank will take it ? other wise we’re screwd
you were very informative — thank you!
Nice video. I will use it as a time saver for my clients who need to understand what this process will be for them.
You poor bastards, who allowed these eventual mortgage problems to develop, your economy is obviously uncontrolled and backward, this does not happen in any other country around the world, I think it is a deliberate system where money is quickly removed from part of the population to benefit others, a free economy which is out of control. Many yanks after many generations still have not attained any assets, it’s crazy and unfair.
I bumped up your -1 rating to 0. Who other than the 1% thieves them selfs would disagree with you. Good comment but not in order for this clip.
A good clip no doubt. They are becoming common these days. Had the country been notified off all the trickery and whimsical b.s. associated with real estate prior to this crisis, there would be no crisis. Just like if a platoon had a map of a land mind field before entering, they would have little to no casualties.
ACG out.
send him an email and he’ll ask you for the property address and the lender
Emilio I asked YOU for the property address and the name of the lender because you said you told the lender you were intending to live in the property so you could get a lower rate when you never had any intention of living in the property and now you’re facing foreclosure. The hundreds of others who have emailed me have each had an individual response based on their situation. In your case I wanted to see if there is an Interthinx or MARI report due to the occupancy which can complicate
“this does not happen in any other country” O RLY? See the “Info” section for this video for just 3 samples from Australia, Britain and Spain. No, it doesn’t happen in countries where people are not free to own their own property or where the people are property of the state – that is correct!
We don’t have wholesale, uncontrolled havoc in the mortgage market, neither do our prices drop like a rock because the mortgagee is always responsible for the debt, you cannot just walk out and leave the keys, and you seem ignorant of Australia’s situation.
“and you seem ignorant of Australia’s situation” enlighten me Oh Great One. By the way – when you make statements you hope will sway opinion or correct news reports cite someone with credentials or provide your own. The mortgagee is always responsible for the debt? The mortgagee is the lender you know – I’m going to trust you simply misstated the positioning. The title of the article in the UK Telegraph is “Australia faces worse crisis than America” (linked in the info section).
The UK Telegraph, is an English paper (12k miles away) and if you believe the envious drivel meted out by that publication I have a bridge you might be interested in. Look really you make money from the misfortune of others, why don’t you have some decency and get a job.
“Look really you make money from the misfortune of others, why don’t you have some decency and get a job” Wow: judge, jury and executioner. Now we see we really need your all knowing wisdom here. Please, please tell us more about what fools and sluggards we ignorant people are. How exactly is it that I earn a living? What is it that I do? We are awed by your presence here and I feel so enlightened by your input. Please, do tell us how to act and the real truth of all things.
a small taste of australian hypocrasy, are you surprised? many americans arn’t aware of the ignorance, arrogance and ingratitude out there. with the advent of the internet contact has been made. Europeans arn’t much better by the way.
Nice video. I enjoyed it. I definitely got something out of it.
Check out my latest video, I would really like your honest opinion about it.
Thanks.
Great information! Thank you for helping educate people. Here’s another resource to consider. FederalHomeLoanMods(dot)com
I made an offer on a short sale. I am putting 40% down. Bottom line if the bank does not take my offer i walk away & say call me if you change your mind. The economy is going south! it is my money. take it or leave it. it is that simple!
We just finished our short sale. It took 6 months for the bank to finally agree to the short sale. We bought it for $500,000 3 years ago and it sold for $260,000; that’s how bad the housing market is in California.
Sounds like our situation. We bought a house 3 years ago for 500 K in Ca. (East Bay) and are considering a short sale.
deatbeat sale pay your bills thats why there was a bail out deadbeats