Ventura County CA – Yesterday we discussed a serious problem affecting the short sale industry. Today, we are going to lay out a strategy that the short sale sellers can use to help solve this problem.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
The biggest reason that this problem can continue is because the realtors assisting you never receive a copy of your home’s valuation. If we had copies of those valuations, then holding the people accountable would be much easier.
The banks won’t give us the information. And we really don’t have the right to it. But, you, the home seller, does have a right to it under the Equal Credit Opportunity Act.
Here is what you can do to get your hands on your bank’s property valuation.
1. Request a complete itemized payoff from your lender. You do this by faxing them a request. Usually you will get an answer in 7-10 business days.
2. Review the payoff to see where the property valuation is itemized. It will usually be called an “Appraisal” or “BPO.” If not, it may be included in some other payoff cost.
3. Since this is part of what you owe on this mortgage, then you have a right to a copy under the Equal Credit Opportunity Act. Fax the lender’s legal department a request for a copy of it.
Send a copy of the payoff and circle the spot where you think the BPO payment is. Request a copy for the borrower under the Equal Credit Opportunity Act. In addition, also mail the lender’s legal department the same request.
If your lender does not comply, then you can file a complaint with the Federal Trade Commission at www.ftc.gov, The Office of Thrift Supervision at www.ots.treas.gov, The FDIC at www.FDIC.gov, and the Comptroller of the Currency atwww.helpwithmybank.gov.
Indicate on your correspondence with the lender that if they do not comply, then you will be filing complaints against them.
Once you receive a copy of your home’s valuation we can use that date to facilitate the short sale process.
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 firstname.lastname@example.org. 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 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 bank. Click here to request a copy.
Thanks for reading this,
Chris B Johnson, Realtor
Chris is a Real Estate Agent at Prudential California Realty.
Phone: 805-208-0823. email@example.com.
Certified HAFA Specialist, Certified Short Sale Specialist, Certified Distressed Property Expert
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Chris B Johnson 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 Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, 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 Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also 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 Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor, www.theshortsaleguide.com , Certified Home Affordable Foreclosure Alternative Specialist . Always check with a good real estate attorney to find out the laws in your state. There are also legal aid non profits that can give you advice on what to do to stop a garnishment or bank account seizure. You should also look at California SB458. With the passage of SB458, the Expanded Anti-Deficiency Law May Have Unintended Consequences on Ventura County Short Sales. So Please read http://venturacountyshortsalerealtor.com/?p=948.
For Disclosure, and more information on Mortgage Assistance Relief Services, please see Code 16 of Federal Regulations (FTC), Part 322, or , http://www.ftc.gov/opa/2010/11/mars.shtm and always consult your CPA, Accountant, Financial Advisor and Attorney before you any financial or legal decisions. Also seehttp://venturacountyshortsalerealtor.com/?p=1066.