Ventura County Loan Modification Help – The Big Banks often reject borrower's loan modifications requests, only to lose more money when they sell the home after foreclosure. Here is how to prove the loss to them.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
When you request your free loan modification guide, you will have the option of also receiving a property valuation. This is called a BPO (short for Broker’s Price Opinion), and it is a real estate agent’s opinion of the value of a property.
Lenders use BPOs to determine a property’s value for short sale processing. Find out what you can pay the lender as a monthly payment. Then, find out the mortgage amount that equals that payment. For example, $1,200 a month will pay off a $211,346 mortgage over 30 years. $2,000 will pay off a $352,243 mortgage. $3,500 will pay off a $616,426 mortgage. $600 will pay off a $105,673 mortgage.
The lender should approve your loan mod if the payment you propose will pay off a mortgage amount that is more than the property value. It is in their best interest because it will reduce their losses. In fact, lenders usually only net around 80-85% of a property’s value after foreclosure. This is why lenders were only willing to lend up to 85% of a property’s value historically.
So use this to your advantage. Keep reminding the loan modification negotiator of these facts. And hold the negotiator accountable if they reject your loan mod and lose even more money as a result.
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 cjohnson@prucalhomes.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 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.
Chris B is a Real Estate Agent at Prudential Califonia Realty.
Phone: 805-208-0823.
cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale Specialist
View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris Johnson 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 Ventura County CA Short Sales. Ventura County Realtor. Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important Notice Chris B Johnson, Prudential Califonia Realty, 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 Chris B's personal views and do not reflect the views of Prudential California Realty. This information on Ventura County Loan Mod Help: How To Gain The Upper Hand In Negotiations By Showing Your Lender How Much They Will Lose If They Don't Approve Your Loan Mod is provided as a courtesy to our viewers to help them make informed decisions.
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