Blog
0

IL – Lenders reject loan modifications only to lose more money when they sell the home after foreclosure. Here is how to prove the loss to them.

Get my Free, Step By Step Loan Modification Guide by clicking here.

When you request your free loan modification guide, you will have the option of also receiving a property valuation. This is called a BPO (short for Broker’s Price Opinion), and it is a real estate agent’s opinion of the value of a property.

Lenders use BPOs to determine a property’s value for short sale processing. Find out what you can pay the lender as a monthly payment. Then, find out the mortgage amount that equals that payment.

For example, $1,200 a month will pay off a $211,346 mortgage over 30 years. $2,000 will pay off a $352,243 mortgage. $3,500 will pay off a $616,426 mortgage. $600 will pay off a $105,673 mortgage.

The lender should approve your loan mod if the payment you propose will pay off a mortgage amount that is more than the property value.

It is in their best interest because it will reduce their losses. In fact, lenders usually only net around 80-85% of a property’s value after foreclosure.

This is why lenders were only willing to lend up to 85% of a property’s value historically. So use this to your advantage. Keep reminding the loan modification negotiator of these facts.

And hold the negotiator accountable if they reject your loan mod and los even more money as a result. Thinking about a loan modification?

Our loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at evelyn4homes@aol.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 evelyn4homes@aol.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 630-896-9999

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thanks for reading this, Evelyn Santiago.

Evelyn is a Real Estate Broker at Dynamic Real Estate Network, Inc. . Short Sales Realtor:

Phone: 630-896-9999. evelyn4homes@aol.com.

View My homes for sale at www.dynamicbroker.com.

Evelyn Santiago specializes in loan modification assistance and short sales in Aurora Illinois. Oswego Loan Modification Help, Oswego Short Sales. Oswego Short Sale Realtor. Montgomery Loan Modification Help, Montgomery Short Sales, Montgomery Short Sale Realtor. Yorkville Loan Modification Help, Yorkville Short Sales, Yorkville Short Sale Realtor. IL Short Sales. Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Evelyn Santiago, Dynamic Real Estate Network, Inc. , and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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.

If you stop paying your mortgage, then you could lose your home and damage your credit. 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 Evelyn Santiago’s personal views and do not reflect the views of Dynamic Real Estate Network, Inc. .

This information on Show Your Lender Home Much They Will Lose Rejecting Your Loan Mod is provided as a courtesy to our viewers to help them make informed decisions.

Quick Property Search

City:
Type:
Max Price:
Min Price:
Min Rooms:
Min Baths:

Random Testimonial

  • ~ A Dream Come True

    A Dream Come True"In today's economic environment, home buyers (especially first timers like us) need an experienced professional to help them locate the right house, understand financing and legal concerns, and to simply be a reassuring friends when obstacles arise.  We could not have been happier with the guidance provided by Evelyn Santiago in our home buying adventure.  From our first showings in 18 inches of fresh snow, to finally getting keys to our new home, Evelyn was right there with us.  She was immediately available at any time, kept us informed of any information available, and made us feel like the most important clients she had ever worked with. As first time homebuyers, we weren't even sure why type of property we really wanted.  Evelyn was patient is showing us townhomes and single family homes, discussed various advantages and disadvantages of each, and helped us to determine exactly what we were looking for.  As we modified our list of desired traits in a new home, Evelyn was quick to respond by searching the MLS, suggesting properties, and setting up showings.  After seeing twenty-six different properties, we finally found the house that we knew we could call 'Home'.   Her experience and in-depth knowledge of the fluctuating home values enabled her to not only suggest an offer on the house, but she also accurately predicated the price we would pay for the home after final counter-offer negotiations completed!

  • Read more testimonials »