Saurabh Singh's Posts - Short Sale Superstars2024-03-29T11:01:12ZSaurabh Singhhttp://shortsalesuperstars.com/profile/SaurabhSinghhttp://storage.ning.com/topology/rest/1.0/file/get/3144370544?profile=RESIZE_48X48&width=48&height=48&crop=1%3A1http://shortsalesuperstars.com/profiles/blog/feed?user=2a1uryc06cwdk&xn_auth=noGive Us Hope, Mr. Lawsky!tag:shortsalesuperstars.com,2014-02-13:3468065:BlogPost:3443772014-02-13T20:24:56.000ZSaurabh Singhhttp://shortsalesuperstars.com/profile/SaurabhSingh
<p>Where would you like to be when you are old? I don't know how to read minds but I am sure you don't want to be homeless. I am sure you don't want to helplessly see your home foreclosed by a bunch of crooks driven by greed.</p>
<p>Many old people, cancer patients, newly married couples, single moms, among others have been evicted by the loan servicer Ocwen. Many have seen their short sale requests turned down only to watch their homes sold for lower prices to builders and investors. As per…</p>
<p>Where would you like to be when you are old? I don't know how to read minds but I am sure you don't want to be homeless. I am sure you don't want to helplessly see your home foreclosed by a bunch of crooks driven by greed.</p>
<p>Many old people, cancer patients, newly married couples, single moms, among others have been evicted by the loan servicer Ocwen. Many have seen their short sale requests turned down only to watch their homes sold for lower prices to builders and investors. As per the allegations, Ocwen used deceptive and unfair means while working with borrowers who were delinquent and underwater. The company has been accused of misrepresenting facts while filing foreclosure documents, charging unjustified fees for default-related services and forcing borrowers to buy unnecessary insurance policies, among others.</p>
<p>Greed of the lenders led to the subprime mortgage crisis which in turn created an economic crisis which led to people losing income and jobs. People struggled to meet their high-interest mortgage repayments. Some requested for forbearance, some wanted their loans refinanced, some thought a short sale would help ease the strain on their finances.</p>
<p>Greed, though, was not dead yet. Those engulfed by greed only seek profits. To them it does not matter even if it comes from someone else's misfortune. One man finds himself standing against an organization driven by greed of such intensity that has seldom been seen before.</p>
<p>Benjamin Lawsky, Superintendent of the Department of Financial Services, had little option but to block the Ocwen-Wells Fargo deal in a bid to prevent more Americans being unwittingly led towards foreclosure by a loan servicer with a consistent track record of delay in providing statements, adding expensive and at times unnecessary insurance to accounts, not applying payments to account or applying them late. What more, its Chairman is the single largest shareholder in a company (Altisource Portfolio Solutions) that profits immensely from foreclosures and snatches away the livelihood of real estate agents trying to feed their families.</p>
<p>Mr. Lawsky's grandparents, immigrated from Nazi Germany to an apartment on 192nd Street after his grandmother’s father had been killed at Auschwitz; his parents, in turn, had made good through public schools, graduating from Bronx Science and C.C.N.Y. His father was in the U.S. Public Health Service, and Mr. Lawsky and a twin sister were born on a Navy base in San Diego before the family moved to Pittsburgh, where Mr. Lawsky grew up waiting tables and selling funnel cakes out of a food cart. As a high school point guard, he was recruited by several small schools but chose to attend Columbia, where he played briefly as a walk-on before taking up long-distance running. He wanted to study architecture, but, faced with drawing cubes, switched to art history. He became interested in the law when a controversial exhibition of Robert Mapplethorpe photographs in 1989 sparked a national conversation about art and the First Amendment. He graduated cum laude and enrolled in Columbia Law.</p>
<p>Mr. Lawsky has, in the past, questioned Ocwen and gotten them to agree to monitoring but more is expected this time around. For a man who threatened to take away Standard Chartered's license, he can surely do more than just deliver a gentle slap on the wrist to Ocwen.</p>
<p>"For almost 10 years," Lawsky wrote, "SCB schemed with the government of Iran and hid from regulators roughly 60,000 secret transactions, involving at least $250 billion, and reaping SCB hundreds of millions of dollars in fees. SCB's actions left the U.S. financial system vulnerable to terrorists, weapons dealers, drug kingpins, and corrupt regimes, and deprived law enforcement investigators of crucial information used to track all manner of criminal activity."</p>
<p>I quote Ana Merlan, "Lawsky wanted to know why he shouldn't pull Standard's license to operate in New York—a move that would cost the bank billions. The financial world erupted in chatter.</p>
<p>From a sleepy federal investigation that was going nowhere fast to punishment that threatened Standard's very existence, it was clear there was a new sheriff in town."</p>
<p>It is time to be brave, Mr. Lawsky. Give the people some hope.</p>
<p>(The author, Saurabh Singh, is a student of the Buddhist monk Thich Nhat Hanh. He is a Foreclosure Prevention Activist and a vegan. He is also a member of People for Ethical Treatment of Animals(India), Consumer Advocates in American Real Estate, UNITES Professionals and supports charitable causes and crowdfunding.)<a href="http://storage.ning.com/topology/rest/1.0/file/get/3150220986?profile=original" target="_self"><img src="http://storage.ning.com/topology/rest/1.0/file/get/3150220986?profile=original" width="466" class="align-center"/></a></p>The Woman Who Will Battle Ocwentag:shortsalesuperstars.com,2014-02-13:3468065:BlogPost:3442032014-02-13T15:48:04.000ZSaurabh Singhhttp://shortsalesuperstars.com/profile/SaurabhSingh
<p>According to Forbes, Kathy Patrick is the woman wall street fears most. “The toughest lawyer you will see,” works out of an unassuming 33-lawyer Houston firm. She teaches Bible study on Sundays and sings in her church band, while raising two teenage boys with her husband. Her $8.5 billion Bank of America settlement over bad mortgage deals was just the beginning. "Who else has ever gotten $8.5 billion out of anyone? Go find a settlement where anybody in history got $8.5 billion in a private…</p>
<p>According to Forbes, Kathy Patrick is the woman wall street fears most. “The toughest lawyer you will see,” works out of an unassuming 33-lawyer Houston firm. She teaches Bible study on Sundays and sings in her church band, while raising two teenage boys with her husband. Her $8.5 billion Bank of America settlement over bad mortgage deals was just the beginning. "Who else has ever gotten $8.5 billion out of anyone? Go find a settlement where anybody in history got $8.5 billion in a private settlement,” says Jason Kravitt, a lawyer who represented Bank of New York Mellon in the Bank of America settlement talks. “She manages to be sufficiently aggressive and constructive with the right combination of threats and creativity.”</p>
<p>This remarkable woman will take on William Erbey to avenge the distress caused by his firms to countless individuals, families, senior citizens, helpless little children, investors, employees, animals and nature. William Erbey's mother sent him to Harvard. He used his education to earn millions evicting helpless mothers from their homes, displacing poor families, disrupting the education of innocent little children. Kathy's mom sent her to Harvard as well and here she is fighting to stop the growth of antisocial market participants like Ocwen who are contributing towards the creation of an economy that hurts humans, animals and nature. What a contrast!</p>
<p>As news reached that she will be taking on Ocwen, shareholders of the loan servicer sold their holding in fear sending the stock crashing by over 9% on February 11, 2014. Here are just a few certifications of her ability:</p>
<p>* Named overall “Outstanding Practitioner” by Euromoney Legal Media Group, Second Annual Americas Women in Business Law Awards, 2013</p>
<p>* Named “Overall Female Litigator of the Year” and “Texas Litigator of the Year,” Benchmark Litigation Inaugural Awards - South, 2012</p>
<p>* Named one of the “Top Ten Change Agents” by the Financial Times in its feature report: “US Innovative Lawyers 2012”</p>
<p>* Named “Best in Litigation” by Euromoney Legal Media Group, Inaugural Americas Women in Business Law Awards, 2012</p>
<p>* Named to Leading Trial Lawyer list by Legal 500, 2011-2013</p>
<p>* Named to Winning Women by Texas Lawyer, 2011 - One of 20 Texas litigators and appellate lawyers recognized for prevailing in high-stakes cases and having statewide and national impact</p>
<p>* Listed in Legal Media's Guide: Benchmark Top 250 Women in Litigation, 2013 - Recognized as one of the top ten women litigators in the U.S. in this inaugural edition</p>
<p>* Named in Euromoney’s “Guide to World’s Leading Women in Business Law,” 2013</p>
<p>* Listed in Chambers USA America’s Leading Lawyers for Business, 2006-2013 - Named a top-tier Leading Individual for Securities Litigation, Texas, since 2006. Named on Nationwide Securities Litigation Leading Lawyers List, 2010-2013. Named a top-tier Leading Individual for Commercial Litigation, Texas, 2013</p>
<p>* Named an Extraordinary Women in Texas Law by Texas Lawyer, 2008 - One of 30 women recognized for excellence in the legal profession in Texas.</p>
<p>* Listed in Best Lawyers in America, 2008-2014 - Named in the areas of Bet-the-Company Litigation, Commercial Litigation, and Securities Law</p>
<p>* Listed in Legal Media's Guide: Benchmark Litigation, 2009-2014 - Recognized for expertise in Complex Commercial, Securities and Legal Malpractice matters.</p>
<p>* Named a Top Litigator in Legal Media’s Benchmark Plaintiff, 2012-2014.</p>
<p>* Named to the Leading Commercial Litigators in the World list by Who’s Who Legal, The International Who’s Who of Commercial Litigators, 2012-2013</p>
<p>* Named to the Leading Commercial Litigators in the World list by The International Who’s Who of Business Lawyers, 2013 - Recognized for expertise in Securities and Legal Malpractice matters since 2007</p>
<p>* Named a “Texas Super Lawyer” by Law and Politics, 2003-2013 - Named to "Top 50 Women" Texas Super Lawyer List, 2010, 2012-2013. Named to “Top 100 Houston” Texas Super Lawyer List, 2012-2013.</p>
<p>* Named one of The University of Texas at El Paso’s “Distinguished Alumni,” 2013.</p>
<p>* Listed in PLC Which Lawyer? Yearbook, 2008-2010 - Named a “Highly Recommended Individual” in Commercial & Securities Litigation.</p>
<p>* Listed in PLC’s Cross-Border Dispute Resolution Handbook, 2011-2012 - Named a “Leading Dispute Resolution Lawyer” <br/> Named to Lawdragon’s 500 Leading Lawyers in America List, 2010-2013.</p>
<p>* Named to Euromoney Legal Media Group's World's Leading Litigation Lawyers, 2010, 2014.</p>
<p>(The author, Saurabh Singh, is a student of the Buddhist monk Thich Nhat Hanh. He is a Foreclosure Prevention Activist and a vegan. He is also a member of People for Ethical Treatment of Animals(India), Consumer Advocates in American Real Estate, UNITES Professionals and supports charitable causes and crowdfunding.)<a href="http://storage.ning.com/topology/rest/1.0/file/get/3150221295?profile=original" target="_self"><img src="http://storage.ning.com/topology/rest/1.0/file/get/3150221295?profile=original" width="443" class="align-center"/></a></p>You May Take Your Ocwen Complaint To The DFStag:shortsalesuperstars.com,2014-02-13:3468065:BlogPost:3443052014-02-13T14:37:50.000ZSaurabh Singhhttp://shortsalesuperstars.com/profile/SaurabhSingh
<p>Superintendent Benjamin Lawsky's office at the Department of Financial Services have raised certain concerns about Ocwen's ability to service mortgages and have halted indefinitely a $2.7 billion deal by Ocwen Financial Corp. to purchase mortgage-servicing rights from Wells Fargo.</p>
<p>Ocwen typically acquire loan servicing rights from lenders like Wells Fargo, Deutsche Bank, Bank of America, Chase, HSBC etc. and by acquiring companies like Homeward, Litton etc. who possess such loan…</p>
<p>Superintendent Benjamin Lawsky's office at the Department of Financial Services have raised certain concerns about Ocwen's ability to service mortgages and have halted indefinitely a $2.7 billion deal by Ocwen Financial Corp. to purchase mortgage-servicing rights from Wells Fargo.</p>
<p>Ocwen typically acquire loan servicing rights from lenders like Wells Fargo, Deutsche Bank, Bank of America, Chase, HSBC etc. and by acquiring companies like Homeward, Litton etc. who possess such loan servicing rights. The consumer has no ability to prevent his loan from being serviced by Ocwen.</p>
<p>The Consumer Financial Protection Bureau investigated Ocwen in the year 2013 and came to the conclusion " that Ocwen violated federal consumer financial laws at every stage of the mortgage servicing process" and "Ocwen made troubled borrowers even more vulnerable to foreclosure."</p>
<p>You may wonder what a loan servicer could possibly gain from a foreclosure. According to Ron Faris it would be an account lost! In order to understand this you need to understand that a company by the name Altisource Portfolio Solutions shares common ownership with Ocwen. Ocwen's Chairman William Erbey is also the chairman of Altisource and its single largest individual shareholder. Altisource sell foreclosed properties through their website <a href="http://www.HUBZU.com">www.HUBZU.com</a>. In most cases these properties are listed through Altisource or Real Home Services and Solutions which is, no prizes for guessing, owned by Altisource. Altisource are also responsible for maintenance of these properties and provide title and escrow services to real estate transactions. In fact their Purchase and Sale Agreement states that the seller offers to pay the title insurance fees should the buyer elect to use Premium Title as BOTH an escrow and title company, thereby ensuring that escrow fees can be earned by Premium Title, who are an Altisource company! So Altisource and entities associated with and owned by Altisource earn from selling and servicing foreclosed homes in the following manner:<br/> 1. Real Estate commissions (usually up to 3% of the net purchase price).<br/> 2. Buyer's Premium (usually 3-5% of the offer price, can be very high in some cases).<br/> 3. Web Technology Fee.<br/> 4. Escrow fees.<br/> 5. Title Insurance fees.<br/> 6. Property Preservation fees.<br/> 7. Closing coordination fees (if applicable).</p>
<p>In addition to this, Western Progressive, Altisource's wholly owned trustee subsidiary, processes residential non-judicial foreclosures in California, Nevada and Arizona.</p>
<p>So, while Ocwen do not stand to gain from these foreclosure related activities, Altisource do and thereby benefit the "common ownership".</p>
<p>You are vulnerable to foreclosures if:<br/> 1. You do not receive your statements on time.<br/> 2. If the payments you make are not credited to your loan account on time.<br/> 3. If your mortgage repayments rise due to higher insurance or other fees after the loan was transfered to Ocwen.<br/> 4. If your refinance/short sale/loss mitigation request was not given appropriate consideration or was rejected on flimsy grounds or was delayed while Ocwen were simultaneously attempting to foreclose on your loan.</p>
<p>If you are noticing early signs of such symptoms, it is better to take preventive measures. It is your right to approach regulatory authorities with your concerns. Please carry out due diligence to your satisfaction and don't just take my word for anything.</p>
<p>There is no place for foreclosures in a humane society.</p>
<p>While I strongly believe that as a responsible organization, Ocwen genuinely wish to help its customers, here is the link to submit your complaint to the DFS should you need to:</p>
<p><a href="http://www.dfs.ny.gov/consumer/fileacomplaint.htm">www.dfs.ny.gov/consumer/fileacomplaint.htm</a></p>
<p>(The author, Saurabh Singh, is a student of the Buddhist monk Thich Nhat Hanh. He is a Foreclosure Prevention Activist and a vegan. He is also a member of People for Ethical Treatment of Animals(India), Consumer Advocates in American Real Estate, UNITES Professionals and supports charitable causes and crowdfunding.)<a href="http://storage.ning.com/topology/rest/1.0/file/get/3150221019?profile=original" target="_self"><img src="http://storage.ning.com/topology/rest/1.0/file/get/3150221019?profile=original" width="400" class="align-center"/></a></p>Working Pro Bono to spread joy!tag:shortsalesuperstars.com,2014-01-14:3468065:BlogPost:3417752014-01-14T16:40:07.000ZSaurabh Singhhttp://shortsalesuperstars.com/profile/SaurabhSingh
<p>We are very fortunate that we have the ability to perform acts through our body, speech and mind effectively. We will not have this opportunity forever. We must use this to benefit others. Practicing generosity is a perfection. Giving your time and effort to help others without charging fees ranks very high in the order of meritorious deeds.</p>
<p>I work in an industry where I see people facing financial hardships lose their homes, financial and social standing and self esteem, thanks to…</p>
<p>We are very fortunate that we have the ability to perform acts through our body, speech and mind effectively. We will not have this opportunity forever. We must use this to benefit others. Practicing generosity is a perfection. Giving your time and effort to help others without charging fees ranks very high in the order of meritorious deeds.</p>
<p>I work in an industry where I see people facing financial hardships lose their homes, financial and social standing and self esteem, thanks to lenders and loan servicers participating in an economic system designed to exploit others. They cannot afford to hire expensive professional services. The same applies to other industries and walks of life. The needy can seldom afford to hire professional help.</p>
<p>Working pro bono means offering your services for good without charging for it or at highly reduced fees. If you can spare a little bit of time to help others, you can light up their lives. I will participate in any such initiatives whenever feasible.</p>
<p>We are generally very good at advising others but going one step further and actually doing it for someone makes a huge difference. When you are hungry, you need food not a recipe. Think.</p>
<p>I have experience performing the following tasks for the US real estate market participants:</p>
<p>* Reviewing title reports.<br/>* Resolving title issues.<br/>* Suggesting foreclosure prevention strategies.<br/>* Identifying and negotiating liens and judgments.<br/>* Identifying HOAs, negotiating HOA dues and reviewing HOA rules/docs.<br/>* Performing closing agent functions like preparing Escrow docs, obtaining payoffs, preparing Grant Deed/Warranty deeds, Quit Claim deeds, HUD statement etc.</p>
<p>Please add my skills with my details to your phone/organizer so if you need any assistance you can reach me. I will help whenever possible. Similarly, please offer your skills and contact details to others so they can reach you when they need your help.</p>
<p>We are like a store of seeds. Some are good and some seeds are bad. If we water good seeds, compassion will bloom. Practicing generosity we water the good seeds. When we all realize this, we begin to form mindful and enlightened communities.</p>
<p></p>
<p><a href="http://storage.ning.com/topology/rest/1.0/file/get/3150221647?profile=original" target="_self"><img width="750" src="http://storage.ning.com/topology/rest/1.0/file/get/3150221647?profile=RESIZE_1024x1024" width="750" class="align-full"/></a></p>A Borrower's Breakup Letter to Lendertag:shortsalesuperstars.com,2014-01-14:3468065:BlogPost:3417652014-01-14T02:30:22.000ZSaurabh Singhhttp://shortsalesuperstars.com/profile/SaurabhSingh
<p>Dear Lender,</p>
<p></p>
<p></p>
<p>I will never forget how it felt when we first met. I had dreams and you had the means. It was as if we were made for each other. You promised to fulfill all my dreams. You promised we would have a beautiful home, a fancy car and money to send kids to college. That we would shop and vacation at exotic locations. You said you wanted me to live my dreams. I fell for your charms. I signed the promissory note.</p>
<p></p>
<p>Then, you changed. I thought you…</p>
<p>Dear Lender,</p>
<p></p>
<p></p>
<p>I will never forget how it felt when we first met. I had dreams and you had the means. It was as if we were made for each other. You promised to fulfill all my dreams. You promised we would have a beautiful home, a fancy car and money to send kids to college. That we would shop and vacation at exotic locations. You said you wanted me to live my dreams. I fell for your charms. I signed the promissory note.</p>
<p></p>
<p>Then, you changed. I thought you were true to me but you lied. I told you she was trash but you wouldn't listen. That really was subprime! You said I wasn't 'adjustable' and treated me like yesterday's jam. I had to sell my jewelry and liquidate my savings to support your flashy lifestyle. It never was enough. The subprime trash took all you had. All that I had given you!</p>
<p><span style="font-size: 13px;"> </span></p>
<p><span style="font-size: 13px;">You now want to take my home and sell it on HUBZU. You may do as you please but I have had enough. I have learned how greed and desire cause hardships. You misled me but I have found the Way. I have discovered the Sutra on Eight Realizations.</span></p>
<p></p>
<p><span style="font-size: 13px;"><a href="http://www.fodian.net/world/779.htm">http://www.fodian.net/world/779.htm</a></span></p>
<p></p>
<p><span style="font-size: 13px;">I will practice mindfulness and have few material desires. I have understood that if I desire for more, I will end up being a part of an economic system that exploits others. I have understood that happiness is a peaceful state of body and mind. I will practice mindfulness to cultivate a peaceful state of body and mind.</span></p>
<p></p>
<p><span style="font-size: 13px;">Goodbye, my love!</span></p>
<p><span style="font-size: 13px;">Borrower</span></p>
<p></p>
<p></p>
<p>--------------------------------------------------------------------------------------</p>
<p>Saurabh Singh is a student of the Vietnamese monk, Thich Nhat Hanh and promotes veganism and the practice of mindfulness for creating happier and enlightened communities. Saurabh is against foreclosure and forced evictions.</p>
<p></p>
<p><span style="font-size: 13px;"><a href="http://storage.ning.com/topology/rest/1.0/file/get/3150221781?profile=original" target="_self"><img src="http://storage.ning.com/topology/rest/1.0/file/get/3150221781?profile=original" width="400" class="align-full"/></a></span></p>The Most Viable Foreclosure Alternativestag:shortsalesuperstars.com,2013-08-19:3468065:BlogPost:3289012013-08-19T11:31:13.000ZSaurabh Singhhttp://shortsalesuperstars.com/profile/SaurabhSingh
<p><span><a href="http://storage.ning.com/topology/rest/1.0/file/get/3150223327?profile=original" target="_self"><img class="align-center" src="http://storage.ning.com/topology/rest/1.0/file/get/3150223327?profile=RESIZE_1024x1024" width="750"></img></a></span></p>
<p><span>We don't want anyone to lose their home. We don't want anyone to be forcibly displaced. There is no place for foreclosures and evictions in an intelligent society. They are symbols of moral, economic and social corruption. Unfortunately, they are of our own making. Our own craving for materialistic pleasures leads to consumerism and a system of…</span></p>
<p><span><a href="http://storage.ning.com/topology/rest/1.0/file/get/3150223327?profile=original" target="_self"><img width="750" src="http://storage.ning.com/topology/rest/1.0/file/get/3150223327?profile=RESIZE_1024x1024" width="750" class="align-center"/></a></span></p>
<p><span>We don't want anyone to lose their home. We don't want anyone to be forcibly displaced. There is no place for foreclosures and evictions in an intelligent society. They are symbols of moral, economic and social corruption. Unfortunately, they are of our own making. Our own craving for materialistic pleasures leads to consumerism and a system of governance that is more concerned about the health of its financial institutions than the health of its citizens.</span></p>
<p><span> </span></p>
<p><span>In order to help home owners facing foreclosure, the government of United States introduced HAMP. As of 04/30/2013, 18% of the home owners offered permanent modifications under this program had redefaulted and many were on the brink of default. The program itself is only available until 2015, so it does not really provide us a viable long term alternative to foreclose. </span></p>
<p><span> </span></p>
<p><span>Some market partipants have, however, come up with some options that look like viable long term alternatives to foreclosure. I would like to discuss three of them.</span></p>
<p><span> </span></p>
<p><span>The first one is an Assisted Short Sale program offered by Ocwen Loan Servicing in association with Altisource. The purpose of this program is to help fetch the best price for the property while ensuring that only minimum costs are incurred, encouraging the first mortgagee to approve the short sale instead of foreclosing on the loan. As a part of this program Altisource work on reducing costs by negotiating liens, judgements, HOA dues and other encumbrances and let the seller list the property on their online platform HUBZU.COM. This program is viable long term alternative to foreclosure because it addresses three major concerns of associated with a short sale - time, financial viability and finding a buyer. A short sale can be completed, in most cases, in less than two months from the date the seller opts for this program. Many short sales fail because the costs associated with them are high compared to a foreclosure (particularly in non-judicial foreclosure states). This generaly happens due to junior liens, HOA dues, judgements etc. The major strength of this program lies in the way it is able to deal with these issues. Finally, HUBZU tries to find buyers. In case the seller already has offers, this a good opportunity to see if it is possible to find better offers. Overall, this looks promising and has folks at Altisource very excited about it. I hope firms other than Ocwen also get together with Altisource to design similar programs. </span></p>
<p><span> </span></p>
<p><span>The second viable long term alternative comes courtesy real estate agents. Wherever and whenever possible a realtor may get an investor to buy the home through a short sale and rent it out to the seller with an option to buy. This would have to be disclosed to the lender at the very beginning. I understand that some lenders may not allow this. However, wherever possible, this is a great way of letting the distressed home owner continue living in his home. This prevents foreclosure and displacement.</span></p>
<p><span> </span></p>
<p><span>The third option is what can roughly be termed as "a deed in lieu of foreclosure in exchange for contract to rent". The first and the second options are great if you can find a buyer. However, there may be properties which may not find a buyer but have a home owner not wanting to be displaced. In such cases, wherever and whenever feasible, the home owners should have the option of offering the property via a deed in lieu of foreclosure to the lender or an REIT/investor (through the lender) in exchange for being allowed to rent the home. </span></p>
<p><span> </span></p>
<p><span>The only fool-proof way to avoid losing material possessions is to not have them in the first place. Its not the loss of possessions that causes stress but our attachment to them. However, since we all have material desires ourselves, we can understand the stress others undergo when they are on the verge of losing material possessions. It is with this understanding that we must help others. Let us get together and end foreclosures. Let us say no to forced displacement. Let us push for viable alternatives to foreclosure.</span></p>
<p><span> </span></p>
<p><span>—————————————————————————————————</span></p>
<p><span> </span></p>
<p><span>Saurabh Singh is a student of the Vietnamese monk Thich Nhat Hanh and is currently employed with Altisource. All views expressed here are his personal views and are not necessarily endorsed by his employer. The author does not guarantee the accuracy of any information contained in this post. Real Estate, finance, banking and online transactions are complicated and governed by various regulations and readers are advised to consult with certified professionals before making any decision. </span></p>
<p> <a href="http://storage.ning.com/topology/rest/1.0/file/get/3150223327?profile=original" target="_self"><br/></a></p>Realtors entering the path of Enlightened activitiestag:shortsalesuperstars.com,2013-08-17:3468065:BlogPost:3289802013-08-17T14:17:51.000ZSaurabh Singhhttp://shortsalesuperstars.com/profile/SaurabhSingh
<p><a href="http://storage.ning.com/topology/rest/1.0/file/get/3150223366?profile=original" target="_self"><img class="align-center" src="http://storage.ning.com/topology/rest/1.0/file/get/3150223366?profile=original" width="587"></img></a> Helping a home owner prevent foreclosure is a noble cause. Those realtors who wish to commit themselves to this cause are entering the path of Enlightened activities. However, not everyone will be a success. It is more profitable to flip homes than work on a short sale for months only to see your efforts fail.</p>
<p></p>
<p>There are many challenges like negotiating liens,…</p>
<p><a href="http://storage.ning.com/topology/rest/1.0/file/get/3150223366?profile=original" target="_self"><img src="http://storage.ning.com/topology/rest/1.0/file/get/3150223366?profile=original" width="587" class="align-center"/></a>Helping a home owner prevent foreclosure is a noble cause. Those realtors who wish to commit themselves to this cause are entering the path of Enlightened activities. However, not everyone will be a success. It is more profitable to flip homes than work on a short sale for months only to see your efforts fail.</p>
<p></p>
<p>There are many challenges like negotiating liens, voluminous documentation, high wait time and an aggressive first mortgagee trying to foreclose the property. Such challenges do not exist on a normal real estate transaction. A reator entering this path will need to not only familiarize themselves with the technical aspects but also train their mind to develop certain special qualities.</p>
<p></p>
<p>This website does a good job of helping realtors with the technical aspects through a course and through the forum. When like minded people get together, they can encourage each other. However, I want to talk about training the mind to develop special qualities so we don't abandon our cause.</p>
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<p>First, we must try to remember that many people have helped us when we have been in distress and the high esteem in which we hold such individuals. Compare them with selfish individuals you have come across. You can then see clearly that you'd rather be the former than the latter. This is the first training.</p>
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<p>Second, we develop the understanding that this could happen to anyone. Many people experience financial difficulties due to poor economy or not being able to work due to illness etc. Loss of job or reduction in income are the most common reasons due to which people are unable to make their mortgage repayments. This can happen to anyone. We must develop the understanding that this can easily happen to us.</p>
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<p>Third, we develop a commitment to the cause. We must not look at a short sale transaction as just another transaction. We do not want to just go through the motions. Having realized that we want to help others and having understood that this could happen to us, we must seize the opportunity to rescue the home owners from their plight. This happens when we have committed ourselves to the cause. Every morning when you wake up tell yourself that today you will save homes from being foreclosed. You will save a family from the social and financial trauma brought about by a foreclosure.</p>
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<p>Fourth, is awareness. Aware of the stress that such transactions can cause we can be better prepared. We have all experienced stress and if we did not like the experience chances are that somebody else will not like it either. By offering our presence to our clients we put them at ease by bringing them in contact with our solidity.</p>
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<p>Fifth, we must be vigilant. Many things can go wrong. By being vigilant we can prevent that from happening. Always keep an eye on the foreclosure clock. Check if you have standard documents like hardship letter, pay stubs etc. Some lenders frequently lose items or may deny having ever receiving them. Know where you are with each transaction at all times.</p>
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<p>Sixth is developing the very valuable quality of patience. We have to tell ourselves that this will take time. You can negotiate a lien for 30% quicker than for 10% but that can kill the short sale. Be patient and help others do the same.</p>
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<p>Seventh is perseverance. Perseverance is the ability to overcome difficulties that come our way. No agreement between the first and second lien holder. Unrealistic timelines set by the first mortgagee. Non responsiveness. These are commonly encountered challenges that we must overcome.</p>
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<p>Eight is meditation. Take a glass of water. Add a few spoons of sand in it and stir it. That is the state of our mind. Now wait for the water to be still. The sand settles at the bottom and you can see clear water. This is a mind post meditation. By meditating we create conditions for wisdom to arise. We stop negative seeds like selfish desires, greed and frustration from germinating and we remind ourselves of these nine qualities and improve every day.</p>
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<p>Finally, the ninth quality is wisdom. The understanding that we are all connected to each other and no one can do anything arbitrarily. While one idiot with poor knowledge can ruin it for others, this also means that we can make it a success. Make sure that you drive the transaction. Be clever. This realization will help you take almost every transaction to the desired conclusion.</p>
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<p>Helping others is an activity of the Enlightened. Welcome to the path of Enlightened activities!</p>
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<p>Saurabh Singh is a student of the Vietnamese monk Thich Nhat Hanh and is currently employed with Altisource. None of the views expressed in this post are endorsed by his employer.</p>Don't worry. I will be there.tag:shortsalesuperstars.com,2013-08-17:3468065:BlogPost:3288082013-08-17T03:36:15.000ZSaurabh Singhhttp://shortsalesuperstars.com/profile/SaurabhSingh
<p><a href="http://storage.ning.com/topology/rest/1.0/file/get/3150223330?profile=original" target="_self"><img class="align-full" src="http://storage.ning.com/topology/rest/1.0/file/get/3150223330?profile=original" width="500"></img></a> The most valuable gift you can give others is your presence. This is the perfection of giving. When we are present we are practicing the perfection of giving. When we are present and mindful we can touch life. We can truly be of service to others.</p>
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<p><span style="font-size: 13px;">Working for a real estate service provider I come across many people experiencing…</span></p>
<p><a href="http://storage.ning.com/topology/rest/1.0/file/get/3150223330?profile=original" target="_self"><img src="http://storage.ning.com/topology/rest/1.0/file/get/3150223330?profile=original" width="500" class="align-full"/></a>The most valuable gift you can give others is your presence. This is the perfection of giving. When we are present we are practicing the perfection of giving. When we are present and mindful we can touch life. We can truly be of service to others.</p>
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<p><span style="font-size: 13px;">Working for a real estate service provider I come across many people experiencing great anxiety and stress. Some buying a home for the first time. Some desperate to save their homes. Some trying to prevent a foreclosure.</span></p>
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<p><span style="font-size: 13px;">People rely on real estate professionals to help them through what can easily turn into a nightmare. Most real estate agents are quick to highlight their achievements, their qualifications, the number of deals they have completed etc. Only a few say, "Don't worry. I will be there. It can get complicated and frustrating but I'll help you cope with it."</span></p>
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<p><span style="font-size: 13px;">Being there we can do more. We do not have to be Governors or Presidents to make a difference. We don't have to be the CEO to bring about transformation. We just need to be present and mindful. When we are present and mindful we can penetrate the moment. We can heal. We can transform.</span></p>
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<p><span style="font-size: 13px;">Your presence reassures a first time home buyer. Your presence gives confidence to someone trying to prevent a foreclosure. Offer your presence, your serenity, your freshness. These are more valuable than you can imagine.</span></p>
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<p><span style="font-size: 13px;">I am happy to be with you. Lets see what comes along. When we are present, we are aware. We can experience. The food, the music, the love. We can experience life. We can touch happiness. “The most precious gift we can offer others is our presence. When mindfulness embraces those we love, they will bloom like flowers.”</span></p>
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<p>Saurabh Singh is a student of the Vietnamese monk Thich Nhat Hanh and is currently employed with Altisource. None of the views expressed in this post are endorsed by his employer.</p>