My Blog About Murrieta-Temecula Short Sales & Murrieta-Temecula Loan Modification Help

Will My Lender Sue Me After A Murrieta-Temecula Short Sale?

Kevin McLaughlin — Wed, 16 May 2012 19:23:45 +0000

Murrieta-Temecula CA – Many people are concerned about a potential lawsuit after a short sale.

They often ask us, “My lender just lost $150,000. Aren’t thing going to be angry that they are losing that much money? Won’t they sue me?”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

The good news is that very few people will get sued. The vast majority of all short sale sellers will be released from the debt as a condition of the short sale.

We have reviewed hundreds of short sale approval letters and are familiar with the laws in different states. We estimate that 85-90% of all short sales will be approved with the deficiency being waived. In California, for example, it is against the law for lenders to pursue a deficiency judgement if they approve a short sale.

But, what about the remaining people? There are several reasons they are unlikely to be sued. Remember, in most cases they can’t collect any money without getting a judgment first.

Reason #1: It costs $1,000 or more to file a lawsuit in most states. Between the attorney fees and court costs, it will cost a lender $1,000 to $5,000 to convert the debt into a judgment. The $5,000 number is for people who fight them in court.

Reason #2: You can’t squeeze blood from a stone. Most people short sell their house because of financial problems. The banks know this.

Get your Free copy of the Homeowner’s Guide to Real Estate Short Sales by clicking here.

They have learned from past experience how hard it is to collect money from someone who is having financial difficulties.

This is why the vast majority of all short sale sellers will never be sued by their lender after a short sale. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at info@BWestRealty.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 951-375-0367

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

Thinking about a loan modification? Our Murrieta-Temecula loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Kevin McLaughlin.

Kevin is a Real Estate Broker at Berkshire West Realty. Murrieta-Temecula Short Sales Realtor:

Phone: 951-375-0367. info@BWestRealty.com.

Sometimes Moving Forward In Life Begins By Simply Moving

View homes for sale at www.BerkshireWestRealty.com.

Kevin McLaughlin specializes in loan modification assistance and short sales in Murrieta-Temecula California. Murrieta Loan Modification Help, Murrieta Short Sales. Murrieta Short Sale Realtor. Temecula Loan Modification Help, Temecula Short Sales. Temecula Short Sale Realtor. Winchester Loan Modification Help, Winchester Short Sales. Winchester Short Sale Realtor. Menifee Loan Modification Help, Menifee Short Sales. Menifee Short Sale Realtor. Wildomar Loan Modification Help, Wildomar Short Sales. Wildomar Short Sale Realtor. Murrieta CA Short Sales. Murrieta Realtor. Murrieta Homes For Sale, Temecula Homes For Sale, Winchester Homes For Sale, Menifee Homes For Sale, Wildomar Homes For Sale. Bank of America short sale, Wells Fargo short sale, Countrywide short sale, Indymac short sale, One West Bank short sale, Chase short sale, Washington Mutual short sale, VA short sale, EMC short sale, GMAC short sale, AHMSI short sale, Aurora short sale, 1st First Federal short sale, Green Tree short sale, Litton short sale, Nationstar, Navy Federal, Ocwen, PNC, Saxon, US Bank, Wachovia, World Savings, Downey Savings, ASC, short sale.

Important Notice

Kevin McLaughlin, Berkshire West Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorsed 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.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. 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 paid by your lender for helping you on a short sale.

The views expressed here are Kevin’s personal views and do not reflect the views of Berkshire West Realty.

This information on Will My Lender Sue Me After A Murrieta-Temecula Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Buying A Murrieta-Temecula Short Sales? Make Sure You Have This Person Helping You

Kevin McLaughlin — Mon, 14 May 2012 21:27:19 +0000

Murrieta-Temecula CA – Thinking of buying a Murrieta or Temecula area Short Sale? The short sale process is difficult to navigate. The first thing you should do is make sure that the agent who has the house for sale knows what they are doing.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

That person, the “listing agent”, is responsible for negotiations with the short sale lender. They may negotiate the short sale themselves or have a third party do it.

Either way they will be in control of most of the process. The bottom line is that if they do not know what they are doing, then the short sale will be delayed.

You may find yourself waiting 3-4 months for the short sale to be approved. Then, after waiting and hoping that you can buy your dream home, you will find out that the short sale lender didn’t approve your offer.

“We are so sorry. We worked so hard to convince them to accept it, but they still turned it down”, the agent may say. Wouldn’t that be heart breaking?

Get your Free copy of the Homeowner’s Guide to Real Estate Short Sales by clicking here.

Unfortunately some agents just do not understand the short sale process. They are too busy with other things and never have a chance to give the short sale negotiations proper attention.

Or, the short sale negotiator they hire may be too busy to give your short sale file the attention it deserves. This is why it is important to find an agent that understands the process backwards and forward.

They will give the file the proper attention or find someone who can. They will know how to overcome any problems or roadblocks that arise.

And at the end of the day you will be able to buy your dream home. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at info@BWestRealty.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 951-375-0367

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

Thinking about a loan modification? Our Murrieta-Temecula loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Kevin McLaughlin.

Kevin is a Real Estate Broker at Berkshire West Realty. Murrieta-Temecula area Short Sales Realtor:

Phone: 951-375-0367. info@BWestRealty.com.

Sometimes Moving Forward In Life Begins By Simply Moving

View homes for sale at www.BerkshireWestRealty.com.

Important Notice

The views expressed here are Kevin’s personal views and do not reflect the views of Berkshire West Realty.

This information on Buying A Murrieta-Temecula Short Sales? Make Sure You Have This Person Helping You is provided as a courtesy to our viewers to help them make informed decisions.

Murrieta-Temecula Short Sale Myth: The Mortgage Forgiveness Law Means That Everyone Gets To Short Sale With No Deficiency

Kevin McLaughlin — Fri, 11 May 2012 23:02:58 +0000

Murrieta-Temecula CA – I recently heard another so-called short sale expert say that the Federal Mortgage Forgiveness Debt Relief Act made it so that everyone gets to short sale with no deficiency…

The unfortunate news is that this is not true. In some states like California, state law forbids the lenders from attempting to collect from the homeowner after a foreclosure or short sale. But, those states are the exception, not the rule.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is what the Federal Mortgage Forgiveness Debt Relief Act does. It enables a homeowner to walk away from an upside down debt without owing taxes on the loss.

See, in the past a homeowner that was released from an upside down debt would owe income taxes on the forgiven debt. It is called “Forgiveness of Debt Income.”

This short sale expert said the following: “I read the Mortgage Debt Forgiveness Act and it states that anyone who short sells their house will be released from the debt.”

It is sad that someone who promotes themselves as a short sale expert would be so misinformed. So make sure you check out everything before you start the short sale process.

Get your Free copy of the Homeowner’s Guide to Real Estate Short Sales by clicking here.

The good news is that in most cases a homeowner can short sale and walk away from the debt. But, it doesn’t happen every time. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at info@BWestRealty.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 951-375-0367

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

Thinking about a loan modification? Our Murrieta-Temecula loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Kevin McLaughlin.

Kevin is a Real Estate Broker at Berkshire West Realty. Murrieta-Temecula Short Sales Realtor:

Phone: 951-375-0367. info@BWestRealty.com.

Sometimes Moving Forward In Life Begins By Simply Moving

View homes for sale at www.BerkshireWestRealty.com.

Important Notice

The views expressed here are Kevin’s personal views and do not reflect the views of Berkshire West Realty.

This information on Murrieta-Temecula Short Sale Myth: The Mortgage Forgiveness Law Means That Everyone Gets To Short Sale With No Deficiency is provided as a courtesy to our viewers to help them make informed decisions.

Murrieta-Temecula Short Sales: Why Do Bank Negotiators Break The Rules?

Kevin McLaughlin — Thu, 10 May 2012 15:11:10 +0000

Murrieta-Temecula CA – We had a negotiator at Bank of America try to push us around a little while ago. We’ve studied and analyzed all of the short sale guidelines and rules.

This was an FHA loan and therefore would be governed by FHA’s Short Sale Guidelines. This means that the lender must follow FHA’s Specific Instructions on how to handle the short sale. Here’s what happened.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

FHA sends all of the lenders who handle their loans a letter called “Mortgagee Letter 2008-43.” It details exactly how the banks servicing an FHA loan are supposed to negotiate on a short sale.

This letter is 16 pages long and gives them specific directions on how much to pay agents, what percentage of the appraisal they can accept, etc.

We had had a wretched experience another FHA short sale. The lender lied to the seller’s prior agent and hadn’t followed the FHA Short Sale Guidelines. Because of that experience, we had read thru this letter 2-3 times.

Bottom line, we know a little something about FHA’s rules for short sales. The problem was this negotiator at a large national bank didn’t want to follow the rules!

Instead she made up her own rules! She told us that the buyer and seller had to split the cost of the title insurance. But on page 12 of the Mortgage Letter, it says that they are allowed to approve a file paying the standard title insurance costs.

Get your Free copy of the Homeowner’s Guide to Real Estate Short Sales by clicking here.

In our area, the sale’s contracts are written with the seller paying for the title insurance. The buyer pays their closing costs and the title insurance for their lender.

But, this negotiator didn’t want to allow that. I had to argue back and forth with her for 2-3 days until she finally relented. FHA is insuring this lender against any and all loss on the loan.

They have given that lender an almost risk free way to make a decent profit on a mortgage. If they have given you specific instructions on how to negotiate a short sale, then follow those instructions!

Here is the bottom line. If the negotiator at the lender is lying to you, then ask for their manager. When you talk to their manager, explain how they are breaking the rules.

Tell them you may contact FHA and tell them that the lender is breaking the rules. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at info@BWestRealty.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 951-375-0367

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

Thinking about a loan modification? Our Murrieta-Temecula loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Kevin McLaughlin.

Kevin is a Real Estate Broker at Berkshire West Realty. Murrieta-Temecula Short Sales Realtor:

Phone: 951-375-0367. info@BWestRealty.com.

Sometimes Moving Forward In Life Begins By Simply Moving

View homes for sale at www.BerkshireWestRealty.com.

Important Notice

The views expressed here are Kevin’s personal views and do not reflect the views of Berkshire West Realty.

This information on Murrieta-Temecula Short Sales: Why Do Bank Negotiators Break The Rules? is provided as a courtesy to our viewers to help them make informed decisions.

Will I Owe A Deficiency On A Murrieta-Temecula Short Sale If I Have A VA Loan?

Kevin McLaughlin — Sat, 05 May 2012 20:03:58 +0000

Murrieta-Temecula CA – Another common type of loan that does not usually have a deficiency is a VA loan.

But, how do you determine whether or not you have an VA loan?

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

On your original mortgage, 1-4 pages past the signature page will be a VA Rider. At the top it will say “NOTICE: THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS.”

That is a VA loan. The picture above is from a VA mortgage. The page for the VA mortgage was 2 pages below the original signature page of the mortgage.

The pages between this and the signature page had the notary’s signature and the legal description. You can get a copy of your mortgage from the public records in your county.

Most realtors will know how to look up this information. If not, then they will know a title company that can do the research for you.

A VA Short Sale is called a “Compromise Sale.” According to those guidelines, they will give a complete release if a seller participates in the short sale program, and there was no “fraud, misrepresentation, or bad faith” on the part of the homeowner.

Get your Free copy of the Homeowner’s Guide to Real Estate Short Sales by clicking here.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at info@BWestRealty.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 951-375-0367

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

Thinking about a loan modification? Our Murrieta-Temecula loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Kevin McLaughlin.

Kevin is a Real Estate Broker at Berkshire West Realty. Murrieta-Temecula Short Sales Realtor:

Phone: 951-375-0367. info@BWestRealty.com.

Sometimes Moving Forward In Life Begins By Simply Moving

View homes for sale at www.BerkshireWestRealty.com.

Important Notice

The views expressed here are Kevin’s personal views and do not reflect the views of Berkshire West Realty.

This information on Will I Owe A Deficiency On A Murrieta-Temecula Short Sale If I Have A VA Loan? is provided as a courtesy to our viewers to help them make informed decisions.

Murrieta-Temecula Loan Modification Tips: How To Gain A Negotiating Edge Over Your Lender

Kevin McLaughlin — Wed, 02 May 2012 19:47:31 +0000

Murrieta-Temecula CA – Thinking about a loan modification. If you can afford to, then order an appraisal. Or, do your own appraisal.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Ask your realtor “Hey, what are houses in my area selling for?” I’ve seen people who bought a house for $500,000. Guess what’s it selling for today? $300,000.

If your house has had a 40% drop in value, then you shouldn’t be paying a mortgage payment based on a value of $500,000. You should be paying a mortgage payment based on a value of $300,000. Make sense?

Here’s how to calculate what you should be paying. Google “amortization calculator.” Type in what your home is currently worth. Enter the interest rate you were originally paying.

Look at the example numbers below.

* A $500,000 mortgage at 6% interest is a monthly payment of $2,997.75.

* A $300,000 mortgage at 4.5% interest is a monthly payment of $1,520.06. Remember, interest rates have dropped a bunch lately.

It looks to me like this person is overpaying by $1,477.69 a month. Ouch!

Get your Free copy of the Homeowner’s Guide to Real Estate Short Sales by clicking here.

Run the numbers for your house. If your lender forecloses on your house, then it’s not necessarily going to sell for the market value. Most foreclosed houses often sell for 85% to 95% of the value today.

Remember, knowledge is power. When you have this information you have a much better negotiating position with your lender.

You can say “Hey guys, foreclose on my house. But, be prepared to lose a ton of money.” Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at info@BWestRealty.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 951-375-0367

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

Thinking about a loan modification? Our Murrieta-Temecula loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Kevin McLaughlin.

Kevin is a Real Estate Broker at Berkshire West Realty. Murrieta-Temecula Short Sales Realtor:

Phone: 951-375-0367. info@BWestRealty.com.

Sometimes Moving Forward In Life Begins By Simply Moving

View homes for sale at www.BerkshireWestRealty.com.

Important Notice

The views expressed here are Kevin’s personal views and do not reflect the views of Berkshire West Realty.

This information on Murrieta-Temecula Loan Modification Tips: How To Gain A Negotiating Edge Over Your Lender is provided as a courtesy to our viewers to help them make informed decisions.

A Common Murrieta-Temecula Short Sale Myth: You Don’t Know If Your Lender Will Want A Deficiency Until We Have Started The Short Sale Process

Kevin McLaughlin — Tue, 01 May 2012 22:51:16 +0000

Murrieta-Temecula CA – I am about to explain how the different types of loans impact whether or not you will have a deficiency after you short sale your house.

But, I first want to bust the common myth that you won’t know if you will have a deficiency until after you have started the short sale process.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Many agents will tell you that you won’t know for sure if you will have a deficiency until you have started the short sale process. Sure, they can give you the answer if you are in a non deficiency state, such as California. – No Deficiency Judgements allowed after a short sale in California.

But, what if you are in Florida, which is a deficiency state? They will usually tell you that you won’t know if you will have a deficiency until the short sale process has been started.

That is not necessarily true. First, here is the good news. In about 80-90% of all cases, you will not have a deficiency on a short sale even if you live in a deficiency state.

But, if your loan is the type that do not require deficiencies, then you don’t have to worry about a deficiency. The key is to find out the type of loan you have and the short sale guidelines for that type of loan.

In my next post I will start to explain those different loan types and their short sale guidelines. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at info@BWestRealty.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 951-375-0367

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

Thinking about a loan modification? Our Murrieta-Temecula loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Kevin McLaughlin.

Kevin is a Real Estate Broker at Berkshire West Realty. Murrieta-Temecula Short Sales Realtor:

Phone: 951-375-0367. info@BWestRealty.com.

Sometimes Moving Forward In Life Begins By Simply Moving

View homes for sale at www.BerkshireWestRealty.com.

Important Notice

The views expressed here are Kevin’s personal views and do not reflect the views of Berkshire West Realty.

This information on A Common Murrieta-Temecula Short Sale Myth: You Don’t Know If Your Lender Will Want A Deficiency Until We Have Started The Short Sale Process is provided as a courtesy to our viewers to help them make informed decisions.

Worried About Owing Money After A Murrieta-Temecula Short Sale? Not In CA!

Kevin McLaughlin — Mon, 30 Apr 2012 21:06:08 +0000

Murrieta-Temecula CA – We recently received an email from Joy. She was thinking about a short sale, but was worried about a deficiency.

Here is a sentence from her email: “We obviously want to get the price as close to fair market value as possible to eliminate or reduce any deficiency the bank may assess, but also want the house to move as quickly as possible.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is the good news for Joy. In about 80-90% of all cases nationally the homeowner is allowed to walk away without a deficiency. Yes, banks are releasing homeowners from hundreds of thousands of dollars in upside debt.

In California, when a lender approves a short sale, they CANNOT come after you for a deficiency, they CANNOT ask for any funds to close, and they CANNOT ask you to sign a new prommissory note:

We’ve seen homeowners walk away from $300,000, $500,000, and more in upside down debt. It’s like a “Get Out Of Jail Free” Card.

So, how do you find out if you will not owe a deficiency after a short sale? Here is the first step. Find out who owns your loan. Even if you send your monthly payment to ABC Bank it is likely that your loan is owned or insured by one of the one of the following entities.

Fannie Mae or Freddie Mac. There is about a 60% chance that your loan is owned by one of these two entities. If they own your loan, then mortgage forgiveness will be granted according to their policies.

FHA Insured. FHA does not own your loan. But, they insure the owner against loss which means that they will be writing the check for the loss. As a result, they dictate whether or not the debt is forgiven. Except in CA – no deficiency in CA

VA Insured. The Veteran’s Administration does not own your loan. But, they insure the owner against much of the loss. As a result, they dictate whether or not the debt is forgiven. Except in CA – no deficiency in CA

USDA Insured. USDA does not own your loan, but insures the owner against much of the loss. As a result, they dictate whether or not the debt is forgiven. Except in CA – no deficiency in CA

Sliced and Diced Loan. This is a mortgage that has been securitized. It is called “Sliced and Diced” because of the way the ownership of each loan is sliced up and sold off to thousands of different people.

The actual owners of the loan are the people that bought the securitized loan product. Again, no deficiency in CA.

Once you have found out who owns your loan, then you move to the next step. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at info@BWestRealty.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 951-375-0367

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

Thinking about a loan modification? Our Murrieta-Temecula loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Kevin McLaughlin.

Kevin is a Real Estate Broker at Berkshire West Realty. Murrieta-Temecula Short Sales Realtor:

Phone: 951-375-0367. info@BWestRealty.com.

Sometimes Moving Forward In Life Begins By Simply Moving

View homes for sale at www.BerkshireWestRealty.com.

Important Notice

The views expressed here are Kevin’s personal views and do not reflect the views of Berkshire West Realty.

This information on Worried About Owing Money After A Murrieta-Temecula Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Yes, I Do Think A Murrieta-Temecula Loan Modification Is The right Thing To Do

Kevin McLaughlin — Thu, 26 Apr 2012 16:52:27 +0000

Murrieta-Temecula CA – I received a note the other day from Andrew. He was upset that I would tell people that are upside down on their house to ask for a principal reduction from their lender. Here was his email.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

“I saw your blog post about how the banks won’t approve principal reductions for people who are struggling financially.

You recommended that anyone upside down should short sale their house because that is the only way to get the amount they owe reduced.

These people took out a loan and made a promise to do everything in their power to repay it. I think it is wrong that you would openly recommend them break that promise.

All that does is make it harder for someone responsible to get a loan. They banks have lost so much money because people walked away from their mortgages that they are making it impossible for responsible people to get a mortgage. Andrew.”

Here was my response to Andrew’s email.

“Andrew, thank you for your opinion. Fortunately we live in America and everyone is entitled to their opinion.

I can understand that you are frustrated. It sounds like this has affected you personally when you tried to borrow money. But, let me ask you this.

I meet a homeowner named John. John’s company went under during the economic crisis and John lost his job. He was out of work for six months and burned up all his savings and retirement accounts trying to stay afloat.

Today John is working 2 jobs, but making less money than he did at his previous 1 job. He cannot afford his mortgage payment. His lender will not reduce the payment to where he can afford it.

If he pays it, then he can’t pay for groceries. He makes too much money to qualify for food stamps. So, what should he do?

Should he get a third job, work until he burns out, and then lose everything? Or, should he move to a more affordable house and try to get his life back on track?

Get your Free copy of the Homeowner’s Guide to Real Estate Short Sales by clicking here.

I think he should do whatever he can to get his life back on track, whether that be a loan modification or short sale. I know you may think he should work 80 or 100 hours a week until he has repaid every single debt in full.

Ultimately John and his family have to do what makes sense for them. Fortunately, America gives you the freedom to make your own decisions on what is best for you. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at info@BWestRealty.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 951-375-0367

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

Thinking about a loan modification? Our Murrieta-Temecula loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Kevin McLaughlin.

Kevin is a Real Estate Broker at Berkshire West Realty. Murrieta-Temecula Short Sales Realtor:

Phone: 951-375-0367. info@BWestRealty.com.

Sometimes Moving Forward In Life Begins By Simply Moving

View homes for sale at www.BerkshireWestRealty.com.

Important Notice

The views expressed here are Kevin’s personal views and do not reflect the views of Berkshire West Realty.

This information on Yes, I Do Think A Murrieta-Temecula Loan Modification Is The right Thing To Do is provided as a courtesy to our viewers to help them make informed decisions.

Another Example Of Just How Bad A Murrieta-Temecula Loan Modification Is For You

Kevin McLaughlin — Wed, 25 Apr 2012 16:35:15 +0000

Murrieta-Temecula CA – Are you pulling your hair out trying to convince your lender to reduce the amount you owe on your home?

People have a hard time grasping how difficult it is to get a loan modification that is fair. These banks just do everything they can to squeeze homeowners for as much money as possible.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is an example of a homeowner that accepted a forbearance agreement with their lender. The homeowner was desperate to keep his home and just accepted the first offer his lender made.

Today, he is paying $4,400 monthly. The sad thing is that it would cost him about $2,500 a month to rent a comparable home.

He could save $1,900 monthly if he moved out and rented a similar home. But, even worse is how much money this will cost him over the long term.

I project that it will take 19 years for his house to appreciate back to what he originally paid for the house. He will overpay his lender by $433,200 over the next 19 years while he and his family wait for the housing market to recover.

It’s sad, but the only way that I have seen anyone receive a principal reduction is to short sell their house.

You can even buy another house right away if you qualify for the guidelines of certain short sale programs. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at info@BWestRealty.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 951-375-0367

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

Thinking about a loan modification? Our Murrieta-Temecula loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Kevin McLaughlin.

Kevin is a Real Estate Broker at Berkshire West Realty. Murrieta-Temecula Short Sales Realtor:

Phone: 951-375-0367. info@BWestRealty.com.

Sometimes Moving Forward In Life Begins By Simply Moving

View homes for sale at www.BerkshireWestRealty.com.

Kevin McLaughlin specializes in loan modification assistance and short sales in Murrieta California. Murrieta Loan Modification Help, Murrieta Short Sales. Murrieta Short Sale Realtor. Temecula Loan Modification Help, Temecula Short Sales. Temecula Short Sale Realtor. Winchester Loan Modification Help, Winchester Short Sales. Winchester Short Sale Realtor. Menifee Loan Modification Help, Menifee Short Sales. Menifee Short Sale Realtor. Wildomar Loan Modification Help, Wildomar Short Sales. Wildomar Short Sale Realtor. Murrieta CA Short Sales. Murrieta Realtor.

Important Notice

The views expressed here are Kevin’s personal views and do not reflect the views of Berkshire West Realty.

This information on Another Example Of Just How Bad A Murrieta-Temecula Loan Modification Is For You is provided as a courtesy to our viewers to help them make informed decisions.