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How A Chicago Short Sale Could Help You Avoid Owing Money In The Future
Published on 2012-03-19 13:13:06
Chicago IL – A good short sale agent can help you avoid owing thousands of dollars in the future. Why? Well, the most banks lose money when they reject a short sale. They turn down a sales price of $200,000. They foreclose on the home and put it up for sale. However, they are not [...] > read more
Chicago Short Sales: How Bankers Lose Money By Being Incompetent On Short Sales
Published on 2012-03-19 13:07:04
Chicago IL – A Short Sale can help you avoid owing your bank for losing money when they reject a short sale offer. Here is an example of how a bank lost money by delaying the short sale process. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. We [...] > read more
Is This Bank Breaking The Law On Chicago Short Sales?
Published on 2012-03-19 13:01:11
Chicago IL – One large, national bank requires that all home buyers trying to buy a short sale give them their credit information before they make an offer on the house. They are asking for the buyer’s social security number and pulling their credit report. Why are they doing this? But, more importantly is it [...] > read more
How To Solve The Most Common Chicago Short Sale Problem
Published on 2012-02-29 14:16:49
Chicago IL – Short Sales where two or more mortgages are involved are the trickiest. Both mortgage companies are losing a lot of money. They both think that they are entitled to the proceeds of the sale. This is the most common short sale problem. Today we’ll give you an example of how we solved [...] > read more
Chicago Short Sales: Even With The Tight Rental Market It Is Still Often Cheaper To Short Sale And Rent
Published on 2012-02-29 14:11:39
Chicago IL – In most areas the rental market is very tight. Rental prices have been increasing because so many people are losing their home to foreclosure. But, what is still surprising is that in most cases it is still cheaper to rent than own an upside down home. See, home prices have dropped by [...] > read more
A Good Example Of When A Chicago Short Sale Would Make Life Easier
Published on 2012-02-29 14:05:43
Chicago IL – The Stop Foreclosure Institute recently received a question from Richard. “I accepted a job transfer and had to move. Unfortunately we were upside down on the house. I decided to rent it out rather than short sale it. The renters just moved out. I just checked the house. They trashed it! I [...] > read more
South Loop Short Sale – 1600 S. Michigan 3 Bed, 3 Bath
Published on 2012-02-29 13:09:10
1600 S Prairie 2101 Chicago, IL 60616 Stunning 3 Bed Condo In Great South Loop Building Price : $569,900 Bedrooms : 3 Bathrooms : 3 Square Foot : 2,500 County : Cook Property Type : Condo or Townhouse Year Built : 2006 MLS Number : 08006439 click for more information and pictures Property Description STUNNING [...] > read more
Chicago Short Sales: Why The Lack of Accountability Has Hurt The Housing Market & US Economy
Published on 2012-02-15 16:22:42
Chicago IL – The National Consumer Law Center wrote a White Paper on how banks handle loan modifications, short sales and foreclosures. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. They titles their White Paper “Why Servicers Foreclose When They Should Modify and Other Puzzles of Servicer Behavior.” [...] > read more
Chicago Short Sales: Some of the Stupid Things Banks Do On Short Sales
Published on 2012-02-15 16:13:03
Chicago IL – I have something shocking to tell you. Bankers are not as smart as you or I think they are. You know the “perfect banker” that we meet in public. The person has never missed a payment, never been late, and has always had a bunch of savings in the bank. They sneeringly [...] > read more
Channahon Short Sale – 24308 Burr Ct
Published on 2012-02-15 15:41:33
24308 South BURR Court CHANNAHON, IL 60410 1 Story, Ranch – CHANNAHON, IL Price : $199,900 Bedrooms : 3 Bathrooms : 2 Square Foot : 1,362 County : Will Property Type : Detached Year Built : 1978 MLS Number : 07994923 click for more information and pictures Property Description WELL CARED FOR 3 BED HOME [...] > read more
Forest Park Short Sale – 616 S Elgin
Published on 2012-02-15 15:30:28
616 ELGIN Avenue FOREST PARK, IL 60130 2 Flat, Bungalow – FOREST PARK, IL Price : $179,900 Bedrooms : 5 County : Cook Property Type : Income Year Built : 1922 MLS Number : 07976830 click for more information and pictures Property Description Great investment opportunity!!! Proximity to Loyola University Medical Center, I-290, and Harlem, [...] > read more
South Loop Short Sale – 1620 S. Michigan Ave Unit 824
Published on 2012-02-15 15:18:13
1620 South MICHIGAN Avenue CHICAGO, IL 60616 Condo,Condo-Loft – CHICAGO, IL Price : $159,900 Bedrooms : 2 Bathrooms : 1 Square Foot : 878 County : Cook Property Type : Condo or Townhouse Year Built : 2005 MLS Number : 07991796 click for more information and pictures Property Description SPACIOUS 2 BEDROOMS, DEN , 1 [...] > read more
Chicago Short Sales: Should I Be Embarrassed by Doing a Short Sale
Published on 2011-12-21 13:57:58
Chicago IL – Short Sales are a situation that can often cause emotional turmoil as well as financial. It’s amazing how quick people are to judge others but times may be changing when it comes to today’s financial situations. We’re all feeling tough times. We all have seen local businesses close, people we know losing [...] > read more
Fixing Credit After A Chicago Short Sale Step 8: Checking Your Results
Published on 2011-06-29 10:28:50
Chicago IL – The next step in your credit repair process is a very important one. This is the time where you check the results of your efforts so far. Get my Free, Step By Step Loan Modification Guide by clicking here. The credit bureaus have now s > read more
Fixing Credit After A Chicago Short Sale Step 7: The Waiting Period
Published on 2011-06-28 10:58:37
Chicago IL – The next step in the process of getting a cleaned up credit report, is the one that takes the least effort, but the most patience: WAITING. You’ve done your part to get the ball rolling, and now the credit reporting companies have to > read more
Fixing Credit After A Chicago Short Sale Step 6: Why It’s So Important To Document
Published on 2011-06-27 11:59:40
Chicago IL – I mentioned in the last note that you’ll need to keep a file of records about your credit restoration process. This is an important part of the process, and deserves a bit more than a brief mention. Get my Free, Step By Step Loan Mod > read more
Fixing Credit After A Chicago Short Sale Step 5: How To Mail The Letter
Published on 2011-06-24 13:37:37
Chicago IL – Once your strongly worded credit report dispute letters are written to each of the three credit reporting companies, then it is time to get it into the hands of their dispute department. The goal is to get your letter read, taken serio > read more
Fixing Credit After A Chicago Short Sale Step 4: Writing The Credit Bureaus
Published on 2011-06-24 13:13:15
Chicago IL – Using your work on the credit report, you are ready to take action. You are now going to write a letter to the credit bureaus about the items you’ve highlighted and noted. Get my Free, Step By Step Loan Modification Guide by clicking > read more
Fixing Credit After A Chicago Short Sale Step 3: Rank Items In Order Of Importance
Published on 2011-06-24 13:03:21
Chicago IL – The next step in going over your credit reports is to really rank the items being reported about you to find ones that are the most negative. Rank the negative items with the MOST negative ones given the lowest ranking. Get my Free, St > read more
Fixing Credit After A Chicago Short Sale Step 2: Analyzing Your Credit Report
Published on 2011-06-23 19:54:07
Chicago IL – Once you have gotten your credit report, the next step in the process of restoring your credit score is to go over it with a critical eye. Analyze what the report says. Get my Free, Step By Step Loan Modification Guide by clicking here > read more
The First Step To Fixing Your Credit After A Chicago Short Sale
Published on 2011-06-23 19:47:19
Chicago IL – One of the common reasons that people are concerned about a foreclosure or short sale in their history is because they are concerned about their credit score. Get my Free, Step By Step Loan Modification Guide by clicking here. While it > read more
I Want To Buy Another Home Right After A Chicago Short Sale
Published on 2011-06-17 12:24:08
Chicago IL – The biggest advantage a short sale has over a foreclosure is that you can buy your next home much sooner. Get my Free, Step By Step Loan Modification Guide by clicking here. Here was our answer to Dan’s Question. Under current lendin > read more
Chicago Short Sales: Is My Hardship Legitimate For A Short Sale?
Published on 2011-06-17 11:33:29
Chicago IL – The Stop Foreclosure Institute recently received a question from Dan. Here was Dan’s Question. “I recently purchased another home and tried to sell my former home. It isn’t selling and I can’t afford to make both payments. > read more
How A Chicago Short Sale Helps Preserve Neighborhood Values
Published on 2011-06-15 10:39:24
Chicago IL – Yes, short sales actually help preserve home values in a neighborhood. Here is why. Most people short sell their home while they are still living in the home. They are maintaining the home, mowing the yard, keeping the air conditioning > read more
Another Common Chicago Short Sale Myth: The Foreclosure Process Goes So Fast That I Don’t Have Time To Short Sale
Published on 2011-06-14 13:47:45
Chicago IL – The Stop foreclosure Institute recently received a question from Susan about short sales. Here was Susan’s Question. “My home is scheduled to be going on the courthouse steps in about 2 months. I had thought about short selling, bu > read more
Chicago Short Sales: My Ex Is Short Selling. What Can I Do?
Published on 2011-06-13 10:55:47
Chicago IL – The Stop Foreclosure Institute recently received a question from Tom about short sales. Here was Tom’s Question. “My Ex-wife decided to Short Sell our former house. Unfortunately we both signed the mortgage when we bought the house > read more
Three Ways The Big Banks Could Stabilize Housing Prices And Increase Their Profits At The Same Time
Published on 2011-06-11 09:01:27
Chicago IL – Many Americans are concerned about the housing market. If they housing market continues to decline, then it could drag the housing market with it. At least that’s what some economists are saying. We want to be part of the solution, n > read more
Why Chicago Short Sales with 3 or more mortgages are difficult
Published on 2011-06-08 11:01:17
Chicago IL – Are you looking to buy a short sale? Before you make an offer, you need to check and see how many mortgages are on the home. A short sale with only one mortgage is not that difficult. Even an inexperienced agent can often get these app > read more
Chicago Short Sales: How To Look At A Short Sale From The Lender’s Perspective
Published on 2011-05-11 11:22:39
Chicago IL – The Stop Foreclosure Institute received a few responses from yesterday’s blog post. Most of the questions went something like this. “I think a lender would be stupid to approve an investment property short sale for a wealthy pe > read more
Who Owns My Loan?
Published on 2011-05-03 23:14:28
Who Owns My Mortgage and How Do I Find Out? If you are thinking of short selling please visit www.ShortSaleSuperMan.com Banks are willing to write off your debt and we can help you negotiate and free yourself from foreclosure. Borrowers interested in > read more
Thinking About A Strategic Default in Chicago? FICO May Be Tracking You!
Published on 2011-05-01 09:40:31
Chicago IL – Banks must hate Strategic Defaults. A person who walks away from hundreds of thousands of dollars in debt gets on their nerves. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. It must bug > read more
Chicago Short Sales: My home is in foreclosure. How soon will the bank kick me out?
Published on 2011-04-25 11:44:19
Chicago IL – The Stop Foreclosure Institute recently received a question from another realtor named Sandy. Here is her question. “An agent in my office currently has a listing under contract. It is a short sale, the sad thing is that Large Nation > read more
If You Were Foreclosed Upon Wrongly You Should Get Restitution
Published on 2011-04-25 11:30:55
So, you might be wondering what happened after all the “Robo Signer” mess? Well here is an update. A few weeks ago the Office of The Comptroller For the Currency (OCC), Federal Reserve and the Office of Thrift Supervision, issued ceas > read more
How Does the Realtor Get Paid On A Chicago Short Sale
Published on 2011-04-19 13:31:54
Chicago IL – A potential home seller asked The Stop Foreclosure Institute how we get paid on a short sale transaction. So I decided to answer that question in today’s blog post. Here is how most Realtors get paid on a short sale. They make a real > read more
A Common Myth About Chicago Short Sales: Banks don’t like short sales and prefer foreclosure
Published on 2011-04-19 12:37:43
Chicago IL – One of the Stop Foreclosure Institute members talked to a homeowner recently about a short sales. Her house was close to being foreclosed upon. She had thought about short selling the house. But, she had heard from her friends that ban > read more
Chicago Short Sales: How To Negotiate Away Promissory Notes
Published on 2011-04-13 14:05:07
Chicago IL – If your loan has Private Mortgage Insurance, also known as PMI, then there is a high likelihood that they will request that you sign a promissory note. Today’s blog post talks about how to convince the lender to waive it. Discover ho > read more
A Common Short Sale Mistake Being Made On Chicago Short Sales
Published on 2011-04-08 12:33:04
Chicago IL – I see a lot of agents making mistakes on short sales property valuation. Lenders hire a supposedly impartial third party to value the property. Many of these people are evaluating 10 properties a day. There is very little quality contr > read more
Chicago Short Sales: Do Short Sales Really Take 6-8 Months?
Published on 2011-04-08 12:13:05
Chicago IL – The Stop Foreclosure Institute recently received a question from John. Here is John’s Question. “I am trying to buy a short sale. I have been waiting on an answer to my offer for 6 months. The agent tells me we should have an answe > read more
Chicago Short Sales: How Do I Get A Loan Mod On An FHA Loan?
Published on 2011-04-08 12:00:09
Chicago IL – The Stop Foreclosure recently received a question from Grant. Here was his question. “I have an FHA loan and want to get a loan modification. My bank is playing hardball and won’t modify the loan at all. My friend got a loa > read more
Chicago Short Sales: What Does It Mean When The Bank Says File Is Going To Investor Soon?
Published on 2011-03-30 13:06:54
Chicago IL – The Stop Foreclosure recently received a question from Georgia E. Here was her question. ” When the bank says the file should be going to an investor soon what does that mean?” Georgia E. Discover how other sellers successf > read more
How To Preserve Your Credit During A Chicago Short Sale
Published on 2011-03-28 13:35:59
Chicago IL – If the right decision for you and your family is to sell the house as a short sale, then the sale will have an immediate effect on your credit score. Discover how other sellers successfully did a short sale to avoid foreclosure by clic > read more
Chicago Short Sales: Why Lenders Back Off When Threatened With Bankruptcy
Published on 2011-03-28 13:24:05
Chicago IL – Bankruptcy is one of the scariest words a lender can hear. A bankruptcy filing can stall their ability to foreclose by 6 months, and sometimes as long as a year. Discover how other sellers successfully did a short sale to avoid foreclo > read more
Chicago Short Sales: Even The Rich Are Being Foreclosed
Published on 2011-03-28 12:53:25
Chicago IL – This is good news or bad news, depending on how you look at it. Here is the good news. If you are a little guy having financial problems, then you are not alone. Even Billionaires are being foreclosed on. One billionaire real estate de > read more
Chicago Short Sales: Four Specific Examples of Big Bank Negligence
Published on 2011-03-28 12:44:26
Chicago IL – Here are four specific examples of big bank’s negligence causing a loan owner to lose money. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Example #1: Not giving buyers an answer on a > read more
Why Chicago Short Sales Sell For A Higher Price Than A Chicago Foreclosure
Published on 2011-03-15 14:18:45
Chicago IL – People often wonder why their lender will release their debt in a short sale. Most lenders don’t like to release the debt. But, they agree to do it because they know that policy nets them more money. They net more because a home > read more
Chicago Short Sales: This Short Sale Negotiator Isn’t Doing His Job
Published on 2011-03-07 13:03:32
Chicago IL – Here is a question that the Stop Foreclosure Institute recently received. “I am in the middle of a very long negotiation with Chase. The seller had me to put a clause into the contract stating “upon approval of short sale by se > read more
Chicago Short Sales: How to strong arm your lender on a short sale
Published on 2011-03-07 12:32:37
Chicago IL – Here is a technique you can use to “strong arm” you’re your lender on your short sale. The number one reason people short sale is to salvage their credit. After all, a short sale has much less of an impact on your credit than a f > read more
Chicago Short Sales: Why it is cheaper to short sell and rent versus staying
Published on 2011-03-07 12:12:46
Chicago IL – Many people are shocked that it is often cheaper to short sale and rent that staying in your home with a loan modification. They find it hard to believe that they can rent a comparable or even nicer home for less than their mortgage. H > read more
Chicago Short Sales: The Homeownership Rate continues to drop
Published on 2011-03-07 11:58:49
Chicago IL – Barron’s Magazine recently had an article titled “Renter Nation.” In it, they detailed the various factors at work that will reduce the homeownership rate in America. Discover how other sellers successfully did a short sa > read more
Chicago Short Sales: What can go bad on a short sale when you hire an agent that doesn’t understand short sales
Published on 2011-02-28 18:29:54
Chicago IL – It always amazes me when I hear the stories of agents who talk about horrible short sales are. “Don’t waste your time on a short sale”, they tell homeowners. “They are a waste of time. The lenders won’t ap > read more
Chicago Short Sales: What is a BPO and why does it matter on a short sale?
Published on 2011-02-28 17:11:39
Chicago IL – Some agents hate short sales. Why? Because they don’t understand them. So, don’t believe them when they tell you that short sales are impossible. I will explain what causes their problems in today’s post. There are tw > read more
Chicago Short Sales: The Average Homeowner Can Live 492 Days Rent Free
Published on 2011-02-23 12:04:31
Chicago IL – According to the Wall Street Journal [1], the average homeowner with a home in foreclosure hasn’t made a payment in 492 days. What’s even crazier is that those homes are still in the foreclosure process. That means that a h > read more
Chicago Short Sales: If You Bought At The Market’s Peak, Does It Make Sense To Short Sale Your Home?
Published on 2011-02-23 11:53:03
Chicago IL – Many homeowners bought their home at the peak of the market. In the hardest hit areas, they paid $500,000 for homes that are not selling for $250,000 (or even less.) Their home is costing them $4,000 a month. (That is the total after p > read more
Chicago Short Sales: One Upside To The Horrible Housing Market.
Published on 2011-02-23 11:43:45
Chicago IL – If you are a homeowner, then the housing crisis has decimated the equity in your home. Many families have watched years of hard work spent building their equity go down the drain. Discover how other sellers successfully did a short > read more
What You Should Look For In A Buyer Of Your Chicago Short Sale Property
Published on 2011-02-18 11:50:44
Chicago IL – Short Sales can be tough. Many buyers don’t understand the process and think that since it is a buyer’s market, then they set the rules. That’s not the case. You, the seller set the rules. After all, you still own the > read more
Chicago Short Sales:Is this a reasonable offer from a buyer of a short sale property?
Published on 2011-02-18 11:40:07
Chicago IL – Some buyers think that since it is a buyer’s market, then they can make any crazy demand of a seller. And they can’t understand when the seller isn’t excited by their lowball offer. Here is an example of a recent stor > read more
Chicago Short Sales: What is a BPO?
Published on 2011-02-16 16:04:30
Chicago IL – If you have been reading about short sales, then you have probably heard the term “BPO” and wondered what it meant. BPO stands for Broker’s Price Opinion. A Broker’s Price Opinion is when a licensed real estate > read more
Would Dave Ramsey Love A Chicago Short Sale?
Published on 2011-02-15 13:00:22
Chicago IL – You might have heard of Dave Ramsey. He has a popular radio program where he talks explains the benefits of getting out of debt. Dave is a zealot for the debt free life. “You don’t need to see the inside of a restaurant unl > read more
Chicago Short Sales: Could The Realtor You Hire Kill Your Short Sale?
Published on 2011-02-14 12:32:49
Chicago IL – The biggest reason people short sale their house is to avoid foreclosure. They cannot afford the house anymore and the bank has said they will foreclose soon. If the short sale is not successful, then their lender will foreclose on the > read more
Chicago Short Sales: How To Get A Short Sale Lender To Waive Deficiency Clause
Published on 2011-02-11 12:06:54
Chicago IL – The Stop Foreclosure Institute recently received a question from John. Here is John’s Question. “I just received a full price offer on my house. My main concern is that I don’t get stuck having to pay off the deficien > read more
Will I Still Have To Pay Property Taxes If I Do A Chicago Short Sale?
Published on 2011-02-09 13:44:55
Chicago IL – The Stop Foreclosure Institute recently received a question from Paul. Here is Paul’s Question. “I am thinking about a short sale, but I am behind on my property taxes. Will I still have to pay them if I short sale my home? > read more
Chicago Short Sales: I Have Mortgage Insurance. Won’t That Cover The Deficiency?
Published on 2011-02-08 12:55:04
Chicago IL – The Stop Foreclosure Institute recently received a question from Max. Here is Max’s Question. “If I pay mortgage insurance and default on my loan, why wouldn’t that cover the deficiency amount? Max.” Discover how ot > read more
What you can expect during and after the Chicago Short Sale Process
Published on 2011-02-07 13:02:35
Chicago IL – Here are a few things you should not be surprised to see crop up during the short sale process. Unscruplous Debt Collection Tactics. If you are facing financial hardship, then paying credit cards and other unsecured debts is your lowes > read more
How Much Do You Charge For A Short Sale in Chicago?
Published on 2011-02-07 12:18:49
Chicago IL – The Stop Foreclosure Institute recently received a question from Tawny. Here is Tawny’s Question. “I have not been late on any payments but my income will be changing dramatically towards the end of the summer. What is your > read more
Chicago Short Sales: How To Convince A Lender To Waive A Promissory Note
Published on 2011-02-03 10:43:50
Chicago IL – Some lenders are very stubborn about collecting what they feel they are “rightfully owed.” These lenders are usually a lender that you originally got the loan from. A good example is a credit union loan, or a small community bank. > read more
The Nuclear Option for Chicago Short Sales
Published on 2011-02-03 10:29:30
Chicago IL – The nuclear option is what you do when your lender demands a promissory note or they will not approve the short sale. A promissory note is not the end of the world. It will take a lot of work on their end to collect from you. If the le > read more
Chicago Short Sales: Don’t sweat it if the first buyer gets impatient and walks off
Published on 2011-02-03 10:22:36
Chicago IL – Short Sales can be frustrating. It can take a long time for the lender to process everything and finally give the buyer an answer on their offer. Oftentimes, by the time the lender makes a decision, the buyer has gotten impatient and m > read more
Chicago Short Sales: Are Lenders So Desperate They Will Accept Any Offer?
Published on 2011-02-03 10:13:47
Chicago IL – Have you heard the following myths about short sales? Myth #1: You can buy short sales for dirt cheap and then turn around and resell them for a profit. Myth #2: Foreclosures, Short Sales, and Bank Owned Homes can be bought for 30 to 5 > read more
Chicago Short Sales: Who is in charge during a short sale?
Published on 2011-02-03 10:05:26
Chicago IL – Many home buyers think that the short sale lender is in charge during a short sale. Nothing could be further from the truth. The short sale lender can only veto short sale offers. They can’t put the property up for sale or decide who > read more
Seven Ways You Benefit From A Chicago Short Sale
Published on 2011-01-27 11:16:38
Chicago IL – A home owner thinking of a short sale recently asked us why they should short sale versus just walking away and letting their lender foreclose on the home. We gave them the normal answer: “It’s much better for your credit.” That > read more
Chicago Short Sales: Loan Modifications can be a recipe for disaster
Published on 2011-01-27 11:08:52
Chicago IL – The Star Tribune, a newspaper in Minneapolis, recently ran a story about loan modifications. Here is an excerpt from the article: “Many people who sought help under a federal program created to keep them from losing their homes are i > read more
Another tip to improve the odds of your short sale offer being approved
Published on 2011-01-25 17:12:12
Chicago IL – If you are selling your home, then ask the buyer to write a letter about why they want to purchase the home. If you are a buyer, then write that letter. Discover how other sellers successfully did a short sale to avoid foreclosure by c > read more
Does My Chicago Short Sale Have To Be Approved Before I Put It Up For Sale?
Published on 2011-01-24 14:42:51
Chicago IL – We often get asked if a short sale is even worth the effort. “Do I need to have my short sale “Approved” by my lender before I put my home on the market?” one seller asked us. “When I called my lender they wouldn’t talk to > read more
US Bankruptcies just reached a 5 year high
Published on 2011-01-21 16:42:02
Chicago IL – According to data from the National Bankruptcy Research Center, US bankruptcies have reached a 5 year high. The last record was set in 2005. That record was set because bankruptcy laws were being tightened up and people wanted to file > read more
How Much Debt Can I Erase With A Chicago Short Sale?
Published on 2011-01-21 16:36:59
Chicago IL – We often get asked that question. Some people think that since they are walking away from a large upside down mortgage, then the bank won’t approve it. That usually isn’t true. I wanted to put together a few examples of people the > read more
Chicago Short Sales: Why Should I Short Sale?
Published on 2011-01-18 17:27:05
Chicago IL – We often get asked if a short sale is even worth the effort. “Why don’t I just let the bank have the property”, sellers tell us. “I don’t ever think I’ll be able to fix my credit to be able to buy another house.” Discover > read more
Chicago Short Sales: Why Should I Pay Double For My Home?
Published on 2011-01-17 15:52:40
Chicago IL – The Stop Foreclosure Institute recently received a question from Luis. Here is Luis’s Question. “I am working on a loan modification on my home. I just don’t want to be upside down and want a fair interest rate. Why shoul > read more
Chicago Short Sales: Can I Short Sale Investment Property Without A Deficiency?
Published on 2011-01-14 11:58:20
Chicago IL – The Stop Foreclosure Institute recently received a question from Phil. Here is Phil’s Question. “I am a California Resident but have 3 distressed Florida Properties pending foreclosure. Under Florida law a creditor cannot g > read more
Chicago Short Sales: Can I Short Sale If I Don’t Have A Normal Hardship?
Published on 2011-01-12 10:51:23
Chicago IL – The Stop Foreclosure Institute recently received a question from Chad. Here is Chad’s Question. “I own a condo in Hackensack, New Jersey. I purchased in 2007, pre-construction for $375k and have a mortgage balance of $337k. > read more
Chicago Short Sales: Is It Legal For A Seller to Buy The House He Is Short Selling?
Published on 2011-01-12 10:20:47
Chicago IL – The Stop Foreclosure Institute recently received a question from Mau. Here is Mau’s Question. “Is it legal for a short sale seller to buy the house he is selling on short to reduce his mortgage loan?” asked Mau. Discover > read more
Chicago Short Sales: Can I Short Sale If I Have Substantial Assets & Good Income?
Published on 2011-01-10 14:54:36
Chicago IL – The Stop Foreclosure Institute recently received a question from Dave. Here is Dave’s Question. “I bought several investment properties at the peak of the market. The homes have dropped in value by almost 40% and I am losin > read more
I can’t afford my home, what should I do?
Published on 2011-01-07 14:27:53
Chicago IL – The Stop Foreclosure Institute recently received a question from Steve. Here is Steve’s Question. “I divorced six years ago. We had had our home on the market for some time, but it wasn’t selling. My ex needed money t > read more
Chicago Short Sales: How To Avoid Any Surprises When Selling A Short Sale
Published on 2011-01-05 12:58:46
Chicago IL – Many agents and buyers are scared of short sales. Here is something that I do to make the short sale process easier for the home seller. Before I start negotiations with your lender, I will order a complete title search. Here is why I > read more
Why Is My Agent Trying To Talk Me Out Of Buying A Short Sale in Chicago?
Published on 2011-01-04 18:50:26
Chicago IL – The Stop Foreclosure Institute recently received a question from Tamra. She is buying a home and her agent is trying to talk her out of short sales. Here is Tamra’s question. “I am looking to buy a home. Some of the best priced pro > read more
Chicago Short Sales: A Common Loan Modification Mistake and How To Avoid It
Published on 2011-01-03 14:10:08
Chicago IL – Most homeowners negotiating a loan modification are not amazing negotiators. After all, it’s not every American’s job to be a great negotiator. America is built on hard work and treating people fair. Most stores offer products at a > read more
Yes, Banks Are Approving Short Sales in Chicago
Published on 2011-01-03 13:31:58
Chicago IL – The Stop Foreclosure Institute sometimes receives e-mails from people that short sales are impossible. Well, short sales are not impossible. They just take time. Here is an example. The Stop Foreclosure Institute was attempting a short > read more