Having short sold my house earlier in the year, I happen to be an expert on what it is like to short sell your house. And I am an expert on what it takes to get it done. And I have come to the conclusion that the difference between a short sale vs. a trustees sale is... Luck. But if you find yourself in the position where you are going through a trustees sale here in Arizona, here is a … [Read more...]
Are Loan Modifications Working?
Are loan modifications working? Local Realtor Kristin LaVanway gives some commentary on whether or not loan modifications are working. … [Read more...]
Will Main Street Get A Bailout?
One of the common phrases I have heard over the last couple of years is "how come Main Street doesn't get a bailout?" And I have usually just shrugged and said that no one had called me to ask my opinion but as soon as I heard of it happening, I would be sure to keep everyone posted. I just now caught the first whiff that the federal government *may* be taking action to "bail out Main … [Read more...]
Arizona Loan Modifications: Reader Shares Relevant Loan Modification Information
One of the great things about a blog is that from time to time, someone stops by and leaves a comment that can hopefully help others by sharing relevant information. Here is a recent comment from Greg who is with http://loansettlementcenter.com. Here is the exact comment he made on our post titled "Are Loan Modifications Real?": Check our site for actual modified loans. The trick is how … [Read more...]
Loan Modification: Reader Comments on Loan Modification – What To Expect If You Are Not Late On Your Payments
We contribute to other blogs and one national blog that we contribute to is Zillow.com. Recently I wrote a piece titled "Loan Modification - What to expect if you are not currently late" and a reader who identified himself as "CK" left some really, really good advice as a comment, so I thought I would share it here as well: Loan Modification: What to expect if you are not late on your … [Read more...]
Loan Modification: Before You Do Anything, You MUST Do This First.
Over the last year or so, I have personally spoken with more than 1,000 people about whether or not a loan modification was right for them. Many of these people were not currently late on their payments, and were wondering if the loan modification process was "going to hurt" - meaning, was the outcome going to be worth the pain that they were convinced they were going to go through. Is the … [Read more...]
Loan Modification: Are You Getting A Good Deal On Your Loan Modification?
I took a strange phone call today. The caller explained how they had been working with their lender on a loan modification and had finally gotten their lender to propose a loan modification that would cut $60,000 off of their principal balance and reduce their interest rate to 3% for 5 years, then adjust it to 5% and fix it there for the remaining 25 years. His question to me: Am I … [Read more...]
Arizona Loan Modification: Can You Get A Loan Modification If You Are Current On Your Payments?
As I speak with people every day, I am hearing a question being asked more often than I can remember in the past: "Can I get a loan modification if I am current on my payments?" The answer? It depends. I think that it is probably safe to say that most lenders are currently not modifying your loan if you are current on your payments. Now that I have said that, I am sure that there are … [Read more...]
Arizona Loan Modification: Questions and Answers
There are quite a few people who are searching for more information about Loan Modifications - what are they, how do they work, can you do them yourself, etc. I know this because we have a tracking program that tells us how people find our blog. So I thought I would take some time to cover just a few of the questions that people seem to have based on what they searched on and found our … [Read more...]