Monday, April 29, 2013
How Do You Negotiate A Ventura County Short Sale With A HELOC Loan ?
Certified Short Sale Negotiator
Your Ventura County Short Sale Specialist recently recieved the following question, “What is your experience with HELOCs? I have a HELOC that is a 2nd mortgage. The first mortgage will give them 6% or approximately $3000. The HELOC is saying that they want 30% ($30,000.) They won't budge. They want this in CASH, not as a promissory note (in case the seller does a bankruptcy.) They are telling me they will just let the house foreclose because that is the lender's policy now. What do you recommend that I do?”
Here was our answer to the question. Most third party collection agencies are very tough to negotiate with. They are completely unreasonable. They are so trained to give ultimatums that they will not budge, no matter how much logic and common sense you bring to them.
Here is what you can do. Go around them. Contact the CEO. We have been able to contact the CEO of many different lenders. Show them that they will receive less in a foreclosure than the $3,000 available now. Hopefully they will tell the collection agency to approve the $3,000 deal.
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 email@example.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 is a Real Estate Agent at Prudential Califonia Realty.
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 Califonia Realty. This information on Ventura County Short Sale Question: I’m Having A Hard Time Negotiating A Short Sale On A HELOC Loan is provided as a courtesy to our viewers to help them make informed decisions