Ventura County CA – The Stop Foreclosure Institute recently received a question from Tonia about short sales. Apparently Tonia has been mislead by her lender.
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Here is Tonia's question about short sales. "I've been trying to sell my house for over a year now and have since remarried and moved into my husband's house.
I told the realtor I am willing to do a short sale so she called my mortgagor (short sale dept) and they said to just send in the bid. Well, they received a bid but will not accept it.
They said it is because I haven't gone through the loan modification process that FHA loans have to go through first before a short sale can be done. I don't want to modify my loan. I want to be dismissed from it.
I'm current on my payments because the same guy told me that I could be current and still do a short sale which it isn't sounding like now. Any advise would be great.
My house payment is due next week and if it is going to take me not making payments to get this short sale through I won't make them. Tonia."
Here was our response to Tonia. It sounds like you are being mislead. FHA issues guidelines to lender's that handle their loans. Their guidelines say nothing about a loan modification having to be done first.
You can look up the guidelines for FHA Short Sales. Just google: "Mortgagee Letter 2008-43. I have read thru this countless times and didn't remember a requirement for a loan modification first.
I just scanned thru it again and didn't see it this time. I do remember we go into this same argument with another short sale negotiator. They said we had to go thru the loan mod process before they could process the short sale.
We told them we had read thru the entire letter and knew it didn't have that requirement. They backed off and processed the short sale. You just have to be firm.
And if they aren't following FHA's rules, then call up FHA and let them know. FHA may fine them for breaking the rules.
Thinking about a loan modification?Our Ventura County loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at cjohnson@prucalhomes.com to request a Free Copy.
Or, click here to request a copy.
Thinking about a short sale? I can help you short sale your property so you can move on with your life. 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.
Thanks for reading this,
Chris B Johnson, Realtor
Chris is a Real Estate Agent at Prudential California Realty.
Phone: 805-208-0823. cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale Specialist
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View My homes for sale at www.ChrisBJohnsonRealtor.com.
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 .
For Disclosure, and more information on Mortgage Assistance Relief Services, please see 16 Code of Federal Regulations, Part 322, or .
http://www.ftc.gov/opa/2010/11/mars.shtm
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Important Notice
Chris B Johnson, Prudential California 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 Short Sale Myth: I Have To Go Thru The Loan Mod Process Before I Can Short Sell is provided as a courtesy to our viewers to help them make informed decisions.
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