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Facing Foreclosure on Your Real Estate Mortgage, Short Sale & Loan Modification are Alternatives. Hire an Expert Short Sale Negotiator, Experienced Real Estate Agent. Go To http://RealEstateMarketingThisWeek.com
Part 8 (Excerpt)
Avoid a foreclosure on your credit report, short sale your home and save your credit
Ok, so that is good to know, I know there are people who want to try and do that and I really dont know. I am really a full time mortgage professional, I didnt get into the loan modification business on purpose, we write mortgage loans, real estate loans for residential and commercial, so therefore I dont know your laws on the same token you dont do loan modifications and you dont write loans, youre professional realtor.
Exactly, and one more thing, bottom line is you cant be defrauding the bank. Because then youre stepping into mortgage fraud, as you know. You do have to have a hardship, you honestly do have to show, if youre going to be benefiting from staying in the home, you have to show a hardship that you cant afford the current payment. If youre making a couple hundred thousand a year and have a ½ million in the bank and owe $200,000 the bank isnt on your side in that case.
There are a lot of situations though when a homeowner wants to stay in their home, if that is the case, then we market it to investors, because there is a lot of the people who are buying these homes so we work with the investor and we work out the lease amount and the homeowners can stay in their homes in those situations. Whatever it looks like at the end of the day, the homeowner needs to picture where they are going to be in the short term midterm and long term and where this house fits into those plans, if a loan mod isnt right a short sale is a significantly better option than a foreclosure.
They need to call now, they need to take action because you do need to find a place to live and were here to help you, you dont want to get two weeks to the point of foreclosure and have no where to move your family. And the Dreamvestors Team that is your main focus right now, but people still call you for first time home buyers.
We work with buyers as well as people who are short selling. We have been in real estate several years and we didnt want just short sales, were fortunate to have a very strong clientele base and were always taking new clients. We have just adjusted our focus as the market called for it and as our clients called for it.
The other thing too when we talk about these short sales, getting out of that home before it goes to foreclosure is always the best case scenario, the bank is happier with it, the house is more saleable in most cases, people are still living there, its still there home, they still feel like the pride of ownership.
Yes, and in addition, pride of neighborhood is another point. Your neighbors are going to like you better because there is not a foreclosure in their neighborhood, it helps keep the prices up when the bank takes them back the banks price them even lower typically, well sure and then its vacant and we have the potential problem of neighborhood kids turning the house into a paintball arena.
I saw that in a fantastic two story home with an amazing backyard, this house was to die for, a million dollar home and the neighborhood kids turned this house into a paintball arena. Now I am not going to lie, that might have been fun when I was a kid, but this house was trashed, wires hanging out, I mean it was just an absolute mess. The lenders dont want that, you dont want that. They need to take action they need to call you.
Yes educate yourself and call someone today. Folks its important to point out today that I would like to see you call Kalyn and Jeri for this because I know, I have seen their track record. I know their close ratio and I know that they generally care about you and your needs first, but if you have someone who does this and youre contemplating it, if you have a sale date coming up, you need to take action. Move on with your life, put this part of your life behind you.
One of the things to and we dont want to get to deep into this, Jeri or Kalyn, but after the short sale is done its all said and done, you have an affiliation with people who can help them out in getting their credit repaired and ready to go. We do, we really pride ourselves on being a one stop shop, so we help educate them, if its going to be a loan modification or a short sale once they get through the process then we begin working with them on credit repair. We have a program that we work ourselves, and if its a really sticky issue with your credit we have people that we work very closely with that we will refer you to, we also have a team that includes a bankruptcy attorney, a real estate attorney and a real estate CPA... 
Facing Foreclosure on Your Real Estate Mortgage, Short Sale & Loan Modification are Alternatives. Hire an Expert Short Sale Negotiator, Experienced Real Estate Agent. Go To http://RealEstateMarketingThisWeek.com
Part 7 (Excerpt)
Prices are back to 2003 levels: A Short Sale is significantly cheaper for a bank than a foreclosure
Were in the studio today with Kalyn Roberts and Jeri League of the Dreamvesting Group, these two young ladies are experts in the short sale area, they are NOT going to tell you what you want to hear, they are going to tell you what you need to hear. There is a big difference between what you want and what you need in the case of getting out of a situation. We talked during the break about the different types of people; who qualifies, who doesnt qualify, who this is good for, and who its not good for. I want you to talk about people who are upside down and how youre here to help.
What we want to get across today if you just need to call someone if youre upside down in your mortgage, if you have a listing next door and its a bank owned or short sale, there is a good chance youre probably upside down in you mortgage if you bought anytime in the last, in the last 5 years were almost back to 2003 pricing now.
Just to jump in real quick, Jeri and Kalyn its not just the people who purchased, its the people who used their homes as ATMs which is a crude way for me to say it but lets be honest. You watch the television, and I am not going to name any names, but a company that rhymes with lietech though, they have a commercial where they are showing pictures of using your home to buy a big boat and everybody got sucked into that and now here were.
Yes, if you used your second mortgage to build that big beautiful pool in your backyard, maybe you need to call us. Yes, its unfortunate, we always tell everyone like you just said, everybody got sucked into it, it doesnt mean youre stupid, it doesnt mean you necessarily made a really bad decision. Most people got caught up in the real estate market and good marketing ploys like that, and the bottom line is as we said earlier you dont have to be late on your mortgage payment, you dont have to be facing a foreclosure, if youre simply upside down because you refinanced your home or purchased too recently and the house next door is selling for $100,000 less than yours and you just need to get out of a bad financial situation, youre a candidate for a short sale or even a loan modification.
One of the things about loan modifications that I hear all the time is, and I research other loan modification companies, and what I hear is they are telling people things that just arent real. For instance if your owe $400,000 and your house is worth $300,000 and you want your lender to forgive $100,000 on a loan modification, chances are that isnt going to happen, whereas with a short sale, when youre exiting the property because it just isnt going to work, they would in most cases consider doing that.
Absolutely if that is the market value of your home they are going to consider the bottom line, the banks dont want these properties back, it costs them so much money to go through a foreclosure process and as our prices are falling, monthly, weekly, daily, the likelihood of the value of the property being extremely lower by the time they get the property back is 100%.
In addition to the $60,000 in foreclosure cost, paying real estate commissions and a few other fees is significantly better, because the loss is going to be significantly less with a short sale. Heres a question and I hope that I am not putting either of you on the spot, but suppose the guy owes $400,000 on his house, lets just say its worth $300,000 and you get the listing and this guy is out at a cocktail party and his cousin shows up and says, Ill buy the house from you. Ill buy the house from you, we will make the bank pay the difference and Ill just let you stay in the house. Is that a realistic situation, is someone going to find out about it? Is it good to do that or not?
In real estate, real estate purchases and transactions have to be non-arms length. Now arms length is described as your parents and your children, other than that we pretty much stay out of it because theoretically, yes that could happen, however the banks want to see that the homeowner is not benefiting, so the homeowner would have to become a tenant and be paying rent to new owner at that point. So there are many legitimate situations where you could meet someone who would buy the home and allow you to stay in the home... 
Facing Foreclosure on Your Real Estate Mortgage, Short Sale & Loan Modification are Alternatives. Hire an Expert Short Sale Negotiator, Experienced Real Estate Agent. Go To http://RealEstateMarketingThisWeek.com
Part 6 (Excerpt)
Hire an expert negotiator to work for you whether for a short sale or a loan modification
Alright so getting back to the person that is looking to do a short sale how do they start?
Well obviously, call us. The most important thing as we have been saying throughout the program, call somebody as soon as possible take it upon yourself to get the education. Education is your most important asset in hard economic times. So take it upon yourself if you have a lender or you have a realtor that you prefer to work with ask them about it, but make sure that you get their qualifications in dealing with this situation. Not every realtor chooses to deal with short sales.
In fact our team actually negotiates on behalf of other real estate teams for their clients, we allow them to keep the listings but we do all the negotiations, because most realtors dont want to do it, its a not an easy process and its not something where you want to be a guinea pig for your mother in law to be doing. If you have someone who is not experienced, talk to them about working with us. We would be more than happy to do that as well. Were not opposed to that as well.
Thats great because since the Velocity of Money show has been on the air, Velocity Financial works with several different realtors, we have had the opportunity to have a couple of great short sale experts on in the past and of course Jeri, you and I have spoken about Cheryl Willis, for example is a great realtor and a great example of an expert.
I like the team concept and the fact that you do the negotiations as well, between the two of you, you have 20 years of real estate experience and not being afraid to pick up the phone and negotiate on behalf of the homeowner is huge. I am really glad you have taken the time to learn that and take that extra step because lets face that is a job. That Is not really easy.
We have personal experience with these types of situations, friends and family members that are going through this and we understand them. I have been doing short sales for several years, before most people wanted to do them, and I didnt want it to become my whole entire business because its so difficult, but after having gone through the experience with so many people it has really become my mission to help people in this situation, because its so hard and a couple things that I pride our team on is; #1 were not trying to get you out of your house, were not just looking for another listing at all.
When we do an analysis of somebodys situation almost every single time we talk to them about doing a loan modification, as you know because if we can keep them in their house that is the best for everybody involved. Short sale is the second option and you want to make sure that you have someone that is experienced to negotiate on your behalf and that they really have your best interest at heart.
And now is the time, when all of us in the real estate, mortgage industry is to look out for the home owner, like we said earlier today and heck we have said on the show many times, and Jeri and I have talked about this several times. The more people we put into loan modification space, short sale space to get through this nightmare, the better off everyone is going to be. One thing that is interesting to point out real quick is if you do a short sale instead of a foreclosure you qualify to by a house inside of two years in most cases... 
