Ventura County CA - We had a short sale recently with a certain loan servicing company. The funny thing was that this loan servicer was hired by the owner of the loan to work on behalf of them.
In other words, the loan servicer was to look out for the loan owner's best interest.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Processing and approving a short sale will usually avoid future losses on a mortgage. Boston Consulting Group recently did a study on the difference between a short sale and foreclosure.
They found that a short sale dramatically reduces future losses when compared to a foreclosure.
Here is a real life example: One lender rejected a 385k short sale offer. The home was foreclosed upon and put up for sale. It sold for $230,000. We estimate the owner of the loan, Fannie Mae, lost $182,000.
We have seen this happen over and over again with short sale offers. The loan servicers drag their feet on processing the short sale. The home is later foreclosed upon and sells for substantially less.
But, we had never seen a loan servicer work against their customer / client's best interest. Until we saw a short sale approval letter come across our desk.
The loan servicer was asking for a $2,500 fee to be paid to them. If it wasn't paid they wouldn't approve the short sale. I was shocked. "Aren't you required to work in your client's best interest?", I asked them.
The woman at the loan servicer replied, "Well, we checked it out with our legal department and the said it is ok." I don't really understand what she meant by "ok."
This company is not working in their client's behalf. The loan servicer actually has a fiduciary duty to do what is best for the owner of the loan. And putting a roadblock in the way of approving short sales isn't doing what is best for their client.
So, what does this mean to you? In my opinion, it gives you a strong basis for a lawsuit against that loan servicing company if your loan modification or short sale isn't approved because you won't pay their fees.
Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at email@example.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 805-208-0823.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Ventura County Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.
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Thanks for reading this,
Chris B Johnson Realtor
Chris is a Real Estate Agent at Prudential California Realty.
Phone: 805-208-0823. firstname.lastname@example.org.
Certified HAFA Specialist, Certified Short Sale Specialist
View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson Realtor specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County short sales. Ventura County Short Sale Realtor Short Sale Realtor. Ventura County CA Short Sales. Ventura County Realtor. Chris also provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Realtor, Moorpark Short Sale Realtors, Short Sale Realtor. Ventura County CA Short Sales. Ventura County Realtor, Certified HAFA Specialist, Moorpark Short Sale Realtor, Thousand Oaks Short Sale Realtor, Westlake Village Short Sale Realtor, Newbury Park Short Sale Realtor, Camarillo Short Sale Realtor, Simi Valley Short Sale Realtor, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Realtor at 587 W. Los Angeles Avenue, Moorpark, CA. 93021
Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. 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. The views expressed here are Chris B Johnson's personal views and do not reflect the views of Prudential California Realty. This information on Loan servicer demands a bribe from home buyer, or they won’t approve buyer's short sale offer is provided as a courtesy to our viewers to help them make informed decisions.