Utah Short Sales and Foreclosure Rescues: Bountiful Loan Modifications. Woods Cross Short Sales. Bountiful Short Sales. Farmington Short Sales. Centerville Short Sales.

Showing posts with label Bountiful Loan Modifications. Woods Cross Short Sales. Bountiful Short Sales. Farmington Short Sales. Centerville Short Sales.. Show all posts

Tuesday, October 18, 2011

Bountiful Short Sale Myth: If I Sell For More, Then I Won’t Have A Deficiency

Bountiful UTAH – Some sellers think that if they sell their house for more money, then they are less likely to have a deficiency. Let me explain why that is not true.

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

Another realtor recently told us about a short sale they were involved in. This realtor was representing the buyers purchasing the house. The short sale negotiation company the sellers were using told the sellers that unless the house sold for $295,000, then the sellers would have a short sale deficiency.

Because of this, the sellers wouldn’t accept the buyer’s offer. I told them that couldn’t be true.

Here is how short sale negotiations work.

A lender is losing money on a short sale. In most cases, they are losing a lot of money. Losing just a little bit more money is not going to cause them to change their mind on whether or not they should pursue a deficiency.

A sales price that is $17,000 lower is trivial when compared to a $100,000 loss.

I have negotiated hundreds of short sales. In most cases, the lender is either pursuing a deficiency or not pursuing one. A slightly higher sales price won’t change their mind either way. They will either accept the short sale offer on the table, or counter at a price they will accept.

They will pursue a deficiency even if the property sells for more money.

Thinking about a loan modification?Our Bountiful loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at utahhomesaver@gmail.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 utahhomesaver@gmail.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 (801) 651-0707

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

Thanks for reading this, Dave Forsberg.

Dave is a Real Estate Agent at Prudential Utah Real Estate - Bountiful. Bountiful Short Sales Realtor:

Phone: (801) 651-0707. Email: utahhomesaver@gmail.com.

Greater Salt Lake Short Sales. Real Help for those that need it most.

View My homes for sale at BuyUtahNow.com.

David Forsberg specializes in loan modification assistance and short sales in Bountiful Utah. Bountiful Loan Modification Help, Bountiful Short Sales. Bountiful Short Sale Realtor Bountiful UT Short Sales. Bountiful Realtor.

Important Notice
Dave Forsberg, and Prudential Utah Real Estate - Bountiful, and the are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse 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 for helping you on a short sale.

The views expressed here are Dave's personal views and do not reflect the views of Prudential Utah Real Estate - Bountiful. This information on Bountiful Short Sale Myth: If I Sell For More, Then I Won’t Have A Deficiency is provided as a courtesy to our viewers to help them make informed decisions

Tuesday, December 21, 2010

Bountiful Short Sales: An Advanced Strategy To Stop Harassing Debt Collector Calls

Bountiful UTAH - Many of the short sale sellers we help are selling their home to avoid foreclosure. In addition, they are receiving lots of harassing calls from debt collectors.

These debt collectors seem to think that if you call someone with no extra money, then you can still get them to pay. Here is a little tip on how to stop their phone calls.

A friend of mine looks for missing people. The database he uses is also a prominent debt collection database. He told me something interesting.

Apparently people are suing debt collectors for breaking Debt Collection Laws all the time. These lawsuits are expensive for them to defend against and easy for the consumer to file. (I can’t agree more. In my opinion, the debt collectors knowingly break the rules all the time.)

To help debt collectors avoid future lawsuits they now have a field in their search that flags people that have filed lawsuits. They know that if they harass these people, then they are much more likely to get a lawsuit from them.

As you can see, they are scared! In my last blog post I detailed what were, in my opinion, the different violations of the law. You can read more info on the law at this link and see for yourself if a debt collector is violating it.

If you feel they have violated the law, then find a good lawyer to file suit on your behalf. There are many good lawyers who specialize in helping consumers when a debt collector violates the act.

Just Google “Fair Debt Collections Lawyer.” Many can help you at no cost out of your pocket. They will take your case on a contingency basis and get paid from the money they collect from the debt collector.

Thinking about a short sale? I can help you short sale your property and never pay the bank another dime. Send me an e-mail at utahhomesaver@gmail.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 Dave at 801-651-0707.

Thinking about a loan modification? Our Utah Home Saver Loan Modification Kit has the instructions you will need to get a loan modification approved with your bank. This is a FREE for you, all you have to do is call or email us today.

Thank you for taking a few minutes of your busy day to read this, Dave Forsberg.

Dave is a Realtor with Prudential Utah Real Estate - Bountiful.

Phone: 801.651.0707 Email: utahhomesaver@gmail.com

Dave Forsberg and The Utah Home Saver Team specialize in helping Davis County, Utah Homeowners short sale and never pay the bank another dime. Bountiful Loan Modification Help, Bountiful Short Sales. Bountiful Short Sale Realtor. Bountiful Realtors. Bountiful Realty. Bountiful Realtor. North Salt Lake Short Sales. Woods Cross Short Sale Realtor. Centerville Short Sales. Farmington Short Sale Realtor. Fruit Heights Short Sales. Kaysville Short Sales Realtor. Layton Short Sales. Layton Short Sales Realtors. Syracuse Short Sales. Clearfield Short Sales Realtor. Davis County Utah Realtor. Stop Foreclosure. Stop Utah Foreclosure. Avoid Foreclosure. Avoid Utah Foreclosure. Foreclosure Alternatives. Utah Foreclosure Alternatives. Bountiful Homes for Sale. Bountiful Houses for Sale.utahhomesaver@gmail.com

Monday, December 20, 2010

Bountiful Short Sales: How to Stop Harassing Debt Collector Phone Calls

BOUNTIFUL Utah – If you are facing financial hardship, then paying credit cards and other unsecured debts is your lowest priority. An unsecured debt is a debt where they can’t take away your car or house. A secured debt has something as collateral, such as your car, house, or anything else of value.

The most commons unsecured debt is a credit card. When you stop paying them, they will call you nonstop. The reason is because they don’t have any other way to collect from you.

They can’t come get your car or take your house. So, they make up for that by blowing up your phone with harassing calls. In addition, they use deceptive tricks to get you to pay them.

For example, there are Federal Laws that regulate what they can do or say. They aren’t allowed to threaten to sue you, but then not follow thru and actually file suit.

To get around this rule, they will use language that sounds legal, but isn’t. In one situation, a debt collector in Buffalo, New York named their firm Hoffman, Weinberg & O’Brien to make it sound like they were a law firm.

They would then leave messages on people’s answering machines. They would say they were with the office of Hoffman, Weinberg & O’Brien and then say they may resort to future legal action. In addition, they would reference case number 8306042.

If you didn’t know any better, you would think the case number was for an actual lawsuit against you. Scary, right?

Most credit card accounts never sue (despite the constant threats.) Even when they do sue and get a judgment, they rarely ever attempt to garnish wages.

A lot of judgments expire without getting paid. But, a lot of them get paid off when a person’s income increases, or that person sells a valuable asset such as a house.

Here is how to stop the harassing calls. Simply ask the person who calls for their fax number or mailing address. Then, fax or mail them a letter that requests them to stop calling you.

Here is some sample language you can put into the letter.

“Under my rights in the Fair Lending Law and the Fair Debt Collection Practices Act, I hereby request you stop any and all phone calls to me or any other person. At this time, I do not wish to speak with you, anyone at your company, or anyone representing you concerning this matter.

Do not contact me by phone regarding this matter. I demand that you stop calling my at home, on my cell phone, at work, at my relatives house, or any other location. Please make any future communication with me in writing.

I am aware of my rights under section 805(b)2 of the Fair Debt Collection Practices Act and am willing and able to exercise them. I am keeping track of all calls from your company and may consider recording calls.”

Make sure that when you mail the letter, you send it return receipt requested. If you have access to a fax machine, then fax it out. It’s much easier and stops the calls quickly.

Under the Fair Debt Collection Practices Act, a creditor or collection agency that calls you after you request them to stop may be liable for statutory damages up to $1,000 plus any actual damages suffered, plus attorney fees.

Another tactic you can use to shut down any debt collector is to tell them you are recording the call. They back off when they realize they are on tape. You can buy an inexpensive call recorder at Radio Shack or Amazon.com.

Just hook it up to your phone and you’re ready to go. In addition, you may want to keep a log of all phone calls from debt collectors. This can be useful if you ever have to go to court.

After reading the Fair Debt Collection Practices Act, in my opinion, the following acts are prohibited:

Violation #1: Call you before 8 AM or after 9PM.

Violation #2: Tell your relatives, family, or friends that you owe them money, or state that they are in the debt collection business when they contact any relatives, family, or friends.

Violation #3: Contact you after you send a written request that they cease further communication.

Violation #4: Contact you after you request they cease.

Violation #5: Threaten you with violence. In addition, they are prohibited from using obscene or profane language.

Violation #6: Publicize a list of people who owe them money.

Violation #7: Cause your phone to ring repeatedly or continuously to annoy you.

Violation #8: Call you without telling you who they are and why they are calling.

Violation #9: Mislead or falsely represent the amount owed, that they are an attorney or law firm, that if you don’t pay then you’ll go to jail, state or claim that you committed a crime, or threaten to take an action that is not allowed legally.

Violation #10: Not informing you that any information obtained can be used for the purpose of collecting their debt.

Violation #11: Threaten to repossess any property that they legally don’t have the right to repossess. I remember hearing a lady calling a national talk show and saying that a debt collector had threatened to repossess her cat.

What is this world coming to?!! That is definitely a violation! Cats, dogs, and children are not normally given as collateral against loans. This isn’t the middle ages here!

Violation #12: Threaten to sue you and then not follow thru with it. In addition, they are not allowed to threaten to do anything unless they actually intend to follow thru with it.

There are many good lawyers who specialize in helping consumers when a debt collector violates the act. Just google “Fair Debt Collections Lawyer.”

Many of them can help you at no cost out of your pocket. They will take on your case on a contingency basis and get paid from the money they collect from the debt collector.

If you have any specific questions or need help, please give me a call. Remember I’m here to help you in any way that I can.