Comments for Trademark Loss Mitigation

Comment on Your Short Sale Questions Answered Here by minecraft skins jocksteve

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Comment on Short Sale Flip, Flop or Hold – A Legal Perspective by Lynn Chase

Lynn Chase — Mon, 04 Jul 2011 22:14:12 +0000

A huge part of the scheme that was left out of this flopping education is that the top CEOs of the top 5 banks in the world are okay w the flopping. Here is why. They are bribing negotiators to foreclose on the property during the short sale process and closing the file. Then they collect the PMI for the loan at full value. They also file against the seller for the deficiency in a deficiency states. Then they contact the buyer that was involved in the short sale process before it was pulled out from under him and sell the home directly. They make out like the bandits they are after robbing the middle class and ionvolving the borrowers in a dirivatives scheme while representing to them that they were getting loans. Ha! What a joke. They are a giant criminal organization and the only difference between them and the Mafia is that they don’t come come and break your legs or chop off your fingers if you can’t pay. They will however make you a slave and if you don’t pay will ruin you financially, and economically. It’s all a scam.

Comment on Your Short Sale Questions Answered Here by Yang Barfoot

Yang Barfoot — Thu, 16 Jun 2011 16:23:48 +0000

This was a really nice post.Thanks a lot for spending the time to post such a nice and informative article. It has given me lots of thoughts. In reality I would like to write something like this also – taking time and real effort to make a good article… but what can I say… I procrastinate a lot and never seem to get anything done

Comment on HAFA Releases Another Update for 2011 by Joe Stradcutter - Short Sale MN Realtor

Joe Stradcutter - Short Sale MN Realtor — Fri, 14 Jan 2011 17:55:27 +0000

I believe lenders will be under the gun to get as many short sales done in 2011 as they possibly can. Lenders lose anywhere from $30-50K taking a home back through the foreclosure process PLUS lose another 14-20% in value when declining a short sale and taking a home back.

The HAFA program has so many advantages but lenders need to comply instead of adding their own rules or making the rules up as they go along.
http://goo.gl/9reNC

Comment on Your Short Sale Questions Answered Here by admin

admin — Thu, 30 Dec 2010 18:46:41 +0000

Short sales are meant to help people avoid foreclosure by selling their home, when they have a true and confirmed hardship. They are not intended as a way to negotiate a loan modification. If your inlaws can afford a reasonable payment (it is understood they cannot afford the adjusted payment under their current loan) and want to stay in the home, then they should be working with their lender towards a loan modification and home retention. Lenders are very open to these types of negotiations at this time.

Now, as a direct answer to your question regarding short sales and fraud. Fraud is a legal issue and you should check with an attorney if you suspect something might be fraud. Just note, most lenders will not allow a short sale to a related party and/or will not allow the seller to remain in the home after the short sale process. These lenders will require that both the buyer and the seller sign affidavits of arms length transaction. Here is the wording from a recent document that my sellers and the buyers had to sign on an approved short sale:

“[Buyer and Seller] Hereby affirm that this is an “Arm’s Length Transaction”,

No party to this contract is a family member, business associate, or shares a business interest with the mortgagee. Further, there are no hidden terms or special understandings between the seller or buyer or their agents or Mortgagee.

The Buyers and Sellers nor their Agents have any agreements written or implied that will allow the Seller to remain in the property as renters or regain ownership of said property at anytime after the execution of this short sale transaction. None of the parties shall receive any proceeds from this transaction except the sales commission.”

I would definitely advise that YOU check with an attorney if the short sale lender requires such an affidavit, before you sign such a document under the circumstances.

Comment on The Long and Short of Fannie and Freddie Short Sale Foreclosure Deadlines by short sale info

short sale info — Wed, 15 Dec 2010 12:20:40 +0000

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Comment on Fannie Mae to Penalize Homeowners Who Walk Away From Their Homes by short sale info

short sale info — Sat, 20 Nov 2010 18:21:39 +0000

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Comment on The End Of Short Sale Flips? by admin

admin — Sun, 31 Oct 2010 13:58:09 +0000

Good question. The answer is simply yes… to both.

We develop and keep a list of active and cash buyers who are looking for specific properties. So, when we find a distressed home that meets their criteria, we will offer that property to our buyer’s list.

However, we also market it through our realtors to find the C (or end) buyer.

Both of these scenarios are done simultaneously and ONLY after we have submitted our option contract and it has been signed by the seller (A – B). You do not want to offer and have the seller sign and accept your contract after a higher contract from a C buyer is received and accepted. This can be considered fraud so make sure your sequence is done right.

Comment on The End Of Short Sale Flips? by sascha

sascha — Sun, 31 Oct 2010 00:37:49 +0000

if someone could please help I am just starting and tryin to understand the whole process. Do you have the buyer first or do you find the property first if someone could email me the answer or reply is okay too.

Comment on About Us by Brokers For Sale

Brokers For Sale — Fri, 01 Oct 2010 23:49:41 +0000

I just found your About UsThe Short Sale Reporter | The Short Sale Reporter site! It is great — very helpful. Thanks so much!