Bountiful Short Sales: Attn: Bankers. Stop harassing Americans for money they don’t have

Bountiful UTAH - Maybe this is a pet peeve of mine. Or maybe it just seems ridiculous that someone would call a debtor over and over again asking to be paid, when they have already been told the debtor doesn’t have the money to pay them.


Or maybe it is the fact that I see countless examples of debt collectors breaking the Fair Debt Collection Practices Act. But, no one seems to care that they are breaking the law.



The Fair Debt Collection Practices Act forbids collectors from threatening to sue you, but then not following thru and actually filing suit. To get around this rule, they will use language that sounds legal, but isn’t.


In one situation, a debt collection firm 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. Or they would say they were calling about a pre-legal matter.


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?


In addition, if a debtor tells them not to call anymore, then they are supposed to stop calling. They just keep on calling anyways. This is another example of them not obeying the law per the Fair Debt Collection Practices Act?
I allege that they willingly and knowingly break the law repeatedly. This is why we put Number Seven onto the Homeowner’s Bill of Rights:


7. Stop the Debt Collector Harassment! The right to tell any and all debt collectors to stop calling and never receive a phone call from then again. In addition, this would include debt collectors that know the person’s phone number, but will call family members in an attempt to embarrass the debtor.
This is America people! Debtor’s prison was abolished two centuries ago! It’s time to update your activities to the Twenty-First Century!


Or take another example. A homeowner has never made a late payment in their entire life. They lose their job and find one in another state. The move, try to rent out their house, but can’t afford the payments.


They get behind on their mortgage payment and credit cards. They enter the world of non-stop harassment. Debt collectors call them non-stop. These people aren’t deadbeats. They are just struggling at the moment.


They won’t stop calling even when the debtor asks them to stop. They would pay if they had the money. But they don’t have it.


But, the people won’t stop calling. The constant phone calls make their home life miserable. Don’t you think it has gone too far?


I do. That’s why we need a Homeowner’s Bill Of Rights. Stop the debt collector harassment. What do you think? Please put your comments below.

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

Bountiful Short Sales: The Banker’s Bill of Rights

Bountiful UTAH - Yesterday I wrote about The Homeowner's Bill of Rights.  If homeowner’s have a bill of rights, then bankers must have one as well. We decided to put together the Banker’s Bill of Rights. That way they would not feel left out.

Let me know if we should put this together and petition congress to add it to the constitution.

The Banker’s Bill of Rights.

1. All Bankers have the Right to make any mistake they want and still get bailed out by the American Taxpayer. They can fiddle around with complex derivatives with no risk to themselves or the bank they run.

When they run their bank into the ground, they get the full assistance of the American Taxpayer to bail them out of their mess.

American Taxpayer Bailing Out The Banks

2. All Bankers have the right to say “sic’ em” to their debt collection phone harassment team.Every American that does not pay on time will be called non-stop until that pay up.

They have the right to call the debtor at 8:55 on a weeknight, at 8AM on the weekend, and even at their workplace. Maybe the Bankers can embarrass the employee or cause their boss to fire them.

3. All Bankers have the right to make the loan modification as confusing and frustrating a possible. This includes the right to change policies at anytime, continue the foreclosure process in order to force the homeowner to accept a payment they can’t afford, and not respond to phone calls or e-mails for weeks at a time.

4. Every American either pays their mortgage on time, or they are sent to a forced labor camp to work until they have paid everything back in addition to delinquent interest. This is called “The Gulag” Rule.

If you get behind and we lose money on your house, then go to a work camp to “work off” what you owe us at minimum wage.

In addition, if any homeowner dare not pay on time, then a late penalty shall be charged at 10% per day.

Discover how other sellers successfully did a short sale (and avoided “The Gulag”) by clicking here.

4. All Bankers have the right to hide all the rules for a short sale or loan modification. We will enter a new age of holding the homeowner in the dark. Transparency, accountability, and openness will be gone.

Obviously this article is tongue-in-cheek, but this is the type of garage that the banks are trying to get our government to pass.  Do you like it?  I sure don't.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. 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. If you prefer, then 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.

Thinking about a loan modification? Bountiful Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, David Forsberg.

Dave is a Real Estate Agent at Prudential Utah Real Estate – Bountiful.

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

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

Dave Forsberg specializes in loan modification assistance and short sales in Bountiful, Utah. Bountiful  Loan Modification Help, Bountiful Short Sales. Bountiful Short Sale Realtor Short Sale Realtor. Bountiful UT Short Sales. Bountiful Realtor. Woods Cross Short Sales. North Salt Lake Short Sales. Centerville Short Sales. Farmington Short Sales.

What to do when they won’t allow you to “escalate” the short sale file

Bountiful UTAH - Recently Yesterday I gave you a good example of why you should “escalate” a short sale file. We took a short sale that wasn’t going to be approved, pushed for an approval, and received it.


As a result a homeowner avoided foreclosure, a buyer was able to buy the home they wanted, the bank reduced their losses, and we made a little money.


There are a few problems you may run into when you attempt to escalate a file. Sometimes the negotiator won’t give you their supervisor’s info. They won’t order a new appraisal or help you out.


Most people would be at a dead end. Here is how to get their supervisor’s contact info.




Call the lender’s short sale 800 number. Tell the person answering that you are working on a file with the short sale negotiator and you need to talk to their supervisor.


Say something like, “We’ve talked to the buyers. They will not raise their offer. We’ve had this house listed for 94 days and this is the best offer we have received. The buyers asked me to call and plead their case.”


Most of the time, they will give you the supervisor’s name and e-mail address. Always ask for the fax and phone number as well. Most of the time you won’t get that, but sometimes you can.


Before we escalated a file, we were scared to do it. What if the negotiator got mad? This held us back, and honestly it hurt everyone


The reality is that the negotiators don’t get mad at all. When we are at a logjam with a file, and we have a good case on why they should accept the offer, then we do the logical thing and escalate the file.

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

Question from Homeowner: Why would I do a Short Sale instead of saving the monthly payments & letting it go?

Bountiful UTAH - I recently received a question from Christy. “Why would I do a short sale instead of saving the monthly payments and letting it go into foreclosure?” Christy asked.


Here is the answer. If you stop paying your mortgage, then you can live in your home rent free for 6-18 months of more, depending on the state you are located within.


I have seen lenders wait a year after the first missed payment just to file for foreclosure. Yes, you can live in your house for free for a long time. However, a short sale has many advantages over a foreclosure.  It does less damage to your credit and allows you to buy another home in 2 years versus the 5-7 years after a foreclosure. In addition, you can get some money as an incentive for doing the short sale.


If you want the benefits of both, then stay in your home until the foreclosure case has been started. Then, start working on a short sale with your agent. A short sale can take anywhere from 3 months to even 6-9 months to process.  


This will allow you to salvage your credit and live “rent free” for 6-18 months. You will be able to wipe out all that upside down debt and move on with your life. Best of all, you will be eligible to buy another home in 2 years once you are back on your feet.


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

Citizen’s “Wiki Leak”: Large Bank causes investor to lose an estimated $40k through incompetence

Bountiful UTAH - Wiki leak’s Editor, Julian Assange, recently said he would be releasing documents on a large US Bank. We decided to beat him to it and release some information on how a large US Bank caused their client to lose an estimated 40k because of their incompetence.


This is a house that I drive past every day on my way to work. I noticed that it look abandoned. I looked up the owner to see if they might want to sell the house. That’s when I saw that the home had already been foreclosed. The house was foreclosed on February 4th, 2009. That’s almost a two years ago.


Since we did not know who the lender was, we forgot about the house. But, it was a classic example of why a bank owned house sells for less than a short sale. So, I went out to the house and took some pictures.


Normally, after a bank forecloses on a house, they will put it up for sale within 2-3 months. Today, December 3rd, 2010, they still haven’t put the home up for sale. We found out that a large US bank’s Loan Servicing Arm was servicing the loan on behalf of the owner. In July 2009, I talked to Ann at this lender’s loan servicing office. She told me that they were servicing this loan.


She said if I had a buyer, we would need to contact the homeowner. “It’s not owned by us. You need to contact the homeowner if you want to sell the house. The property has not gone to foreclosure sale,” she said. I informed her the house had already been foreclosed upon. I asked her if they ever communicated with the foreclosure lawyers. I also made sure we were talking about the same house. She confirmed that we were talking about the same house and confirmed the address and the foreclosed homeowner’s name.


“That’s interesting,” she replied. “My records show it has not gone to foreclosure. I’ll check in with the foreclosure department and verify whether it has or hasn’t been foreclosed upon,” she said. Today, almost two years later, no one has followed up on this house. The loan servicer has been 100% incompetent with their actions on this house.


Here is who it appears owns the house today: The Certificate Holders of the Morgan Stanley ABS Capital I Inc Trust 2005-WMC6 Mortgage Pass Through Certificates, Series 2005-WMC6. That means the owners could range from a pension fund, a large Wall Street Firm, or individual persons.


Estimate of Money Lost by the owner: $60,000 to $70,000. This is an estimate of the amount of money lost because the house was no put on the market in the normal 2-3 months after foreclosure. This large bank’s servicing arm has waited almost two years to put the home up for sale, and it still is not on the market as of December 3rd, 2010.


Here is how I came up with the estimate of loss:
I asked another agent what he had thought the house would have sold for previously. We both agreed that if the house had been listed in April 2009, that it would have sold quickly. This is because Spring is the peak selling season. We both agreed that it would have sold for between $200,000 and $210,000.  Today homes similar to this one are selling for $140,000 to $170,000, depending on the condition. This home is in pretty bad condition. So, we can conservatively estimate the loss because of a reduced selling price to be: $40,000 to $70,000.  That is not factoring in a estimated $3,200 in property taxes that have accrued during these past two years, nor lost interest if the money had been loaned to someone else.


I am going to give the same answer as Mr. Assange for who the bank is. First, it is a large US bank. If you were to ask, “Is it the largest US bank?” then our answer would be: “No Comment.”


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

Loan Servicer doesn’t follow VA Short Sale guidelines on a short sale of a VA Loan

Bountiful UTAH - I recently negotiated a short sale on a VA Loan. After the appraisal is complete and all the other necessary document have been received, VA guidelines state the loan servicer should give us an answer within 15 days.


The loan servicer took 65 days to give us an answer. That is a complete violation of VA’s requirements. “Oh, but that’s no big deal”, you might say.


It is a big deal, because VA (and every single US Taxpayer) loses money as a result. VA insures VA lenders against loss, provided they follow their guidelines.


VA is able to make an “educated bet” that they can issue these guarantees because they have laid out rules to control the lending and loan servicing environment. When the company servicing the loan doesn’t follow VA’s guidelines, it is no longer an “educated bet.”


Most short sales that get turned down and foreclosed upon sell for less as a foreclosure. That means VA loses even more money.


I can tell you from experience as a Utah Short Sale Realtor that the 60 day turn around means that VA loses a lot more short sales to foreclosure.  But no one really cares because it almost a victimless crime. At least the victims don’t care. The employees at VA do not get hurt because it’s not their money.


The US Taxpayer already knows the government wastes money. The victim ends up being American’s Veterans who do not have as much money in the VA Loan Program to use to buy a house.

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

Bountiful Short Sales: Loan servicer demands a bribe from home buyer, or they won’t approve buyer’s short sale offer.

Bountiful UTAH - We had a short sale recently with a certain loan servicing company. The funny thing was that this loan servicer was hired by the owner of the loan to work on behalf of them.

In other words, the loan servicer was to look out for the loan owner’s best interest.



Processing and approving a short sale will usually avoid future losses on a mortgage. Boston Consulting Group recently did a study on the difference between a short sale and foreclosure.  They found that a short sale dramatically reduces future losses when compared to a foreclosure.


Here is a real life example: One lender rejected a $385,500 short sale offer. The home was foreclosed upon and put up for sale. It eventually sold for $230,000. We estimate the owner of the loan, Fannie Mae, lost $182,500 plus.  We have seen this happen over and over again with short sale offers. The loan servicers drag their feet on processing the short sale. The home is later foreclosed upon and sells for substantially less.


But, we had never seen a loan servicer work against their customer / client’s best interest. Until we saw a short sale approval letter come across our desk.  


The loan servicer was asking for a $2,500 fee to be paid to them by the buyer. If it was not paid they would not approve the short sale. I was shocked. “Aren’t you required to work in your client’s best interest?”, I asked them.


The woman at the loan servicer replied, “Well, we checked it out with our legal department and they said it is ok.” I don’t really understand what she meant by “ok.”  


This company is not working in their client’s behalf. The loan servicer actually has a fiduciary duty to do what is best for the owner of the loan. And putting a roadblock in the way of approving short sales is not doing what is best for their client.  


So, what does this mean to you? In my opinion, it gives you a strong basis for a lawsuit against that loan servicing company if your loan modification or short sale isn’t approved because you won’t pay their fees.

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