Bion Grady's Blog (52)

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Can I buy again right after a Short Sale? You Decide









We get this question a lot from people. “I am upside down and need to move. I would like to buy another home. Can I do that?” they ask us.







Today they can. FHA (the Federal Housing Administration) has a new program that enables you to short sale your existing home and buy a new home at today’s reduced prices.…







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Added by Bion Grady on December 15, 2010 at 7:48am — No Comments

My Realtor hasn't talked to me about a Short Sale & I'm not even getting a showing. I think I might be upside down. What do I do









The Stop Foreclosure Institute recently received a question from Jennifer. She is having a hard time selling her home.











“I have had my house for sale for a little while, but it hasn’t sold. No buyers have come to look at it. At first I thought the price was fair. But, now that no one has come to see the home, I am beginning to… Continue

Added by Bion Grady on December 13, 2010 at 6:24am — No Comments

Getting Divorced, neither can afford, what to do





In this case I would recommend you sell the house. Now, if you are reading this blog, then you must be researching a short sale.



Which means that you are probably upside down on the home. You have three options.



Option #1: Let your lender foreclose on the home. You just stop making the payments and surrender the…

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Added by Bion Grady on December 10, 2010 at 6:00am — No Comments

Bankers, can we have more open and transparent loan modifications

Loan modifications have become a joke. People get turned down for no reason at all.







People really want to keep their home, but just can't figure out what to do. The loan modification negotiators realize how desperate the homeowners are. They use their power over the person to take an ego trip.







Discover how other sellers successfully did a short sale to avoid foreclosure by clicking… Continue

Added by Bion Grady on December 9, 2010 at 5:56am — 2 Comments

The Homeowner's Bill of Rights









The big banks made mistakes and received a bailout. They have the resources to lobby congress and the courts to have laws written to suit them.









But, what has the little guy received? Nothing. So we decided to put together a Homeowner's Bill of Rights. It's time we had Washington look at what we want, versus taking care of the big… Continue

Added by Bion Grady on December 6, 2010 at 9:49am — No Comments

Citizen's "Wiki Leak": Large Bank causes investor to lose an estimated 40k thru incompetence









Wiki leak's Editor, Julian Assange, recently said he would be releasing documents on a large US Bank. We decided to beat him to it and release some information on how a large US Bank caused their client to lose an estimated 40k because of their… Continue

Added by Bion Grady on December 2, 2010 at 5:24am — No Comments

Loan Servicer doesn't follow VA Short Sale guidelines on a short sale of a VA Loan









We recently negotiated a short sale on a VA Loan. After the appraisal is complete and all the other necessary document have been received, VA guidelines state the loan servicer should give us an answer within 15 days.





The loan servicer took 65 days to give us an answer. That is a complete violation of VA’s requirements. “Oh, but that’s no big deal”,… Continue

Added by Bion Grady on December 1, 2010 at 3:29am — No Comments

A Few Examples of Loan Servicers Not Doing Their Job









Most people think the person they mail their mortgage payment to every month is the owner of their loan. Not so.







In fact, most of the time, they are not the owner. As an example, 80% of all loans that Bank of America handles are not owned by Bank of America.…







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Added by Bion Grady on November 29, 2010 at 8:03am — No Comments

Question from homeowner: I want to avoid foreclosure, but my lender won’t let me

The Stop Foreclosure Institute recently received a question from Arman. Here is his question.







I am a Seller trying to avoid foreclosure. My agent has a buyer and his offer is with the lender from last seven months. Now the lender told us that Fannie Mae investor refused the short sale offer and the house is going to foreclosure early next week.







Discover how… Continue

Added by Bion Grady on November 22, 2010 at 3:04am — No Comments

I thought it would work, but it didn't







I'm sure you have heard about forensic loan audits. I've heard people say how wonderful they are. "Your lender will approve your short sale right away", claims one.



Discover how other sellers successfully did a short sale and request a free consultation by clicking… Continue

Added by Bion Grady on November 16, 2010 at 4:58am — No Comments

How to know when the short sale negotiator is lying to you









Negotiating short sales is tough. In my opinion, some of the banks are not making good financial decisions. "We won't approve the file without the financials completely filled out," they say.







Or, they tell you the numbers won't work when the investor guidelines actually say to approve the short sale. If the agent doesn't know who owns the loan (or… Continue

Added by Bion Grady on November 15, 2010 at 5:30am — No Comments

We answer a question from a homeowner facing foreclosure

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The Stop Foreclosure Institute recently received a question from a homeowner facing foreclosure. I'll call him Peter to protect his identity.



(Foreclosure is embarrassing and I don't want to put his name out there.) Peter asked, "I am six months behind on my mortgage payments. I just got the tax bill for 2010 in the mail. Should I pay it?"



He continued, "What will… Continue

Added by Bion Grady on November 4, 2010 at 8:16am — No Comments

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