Bountiful Short Sales: Would Dave Ramsey Love A Short Sale?

Bountiful UTAH – You might have heard of Dave Ramsey. He has a popular radio program where he talks and 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 unless you are working there", he will tell people in financial trouble that call his show.


What does Dave recommend people do to get out of debt? Reduce spending, eat at home, pay off high interest debt first, etc.


Here is why I think Dave would love a short sale. A short sale is a great way to reduce debt. Where else can you wipe out $100,000, $200,000, and even more in debt? That will make up for eating a lot of rice and beans.


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


Do you have a house that is underwater to the tune of $50,000 or more? Try a short sale. It's a great way to erase all that upside down debt.


You can rent another home for 2-3 years until the market has bottomed out. Then, you can buy at the bottom. Not only will you save on a lower house price.


You will also save on the interest over the life of the loan. Did you know that on the average 30 year mortgage, you pay as much in interest as you pay for the house?


If you wiped out $100,000 in upside down debt, then that means you actually wiped out another $100,000 in interest. I think Dave would be proud. 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 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.


Thinking about a loan modification? Our Layton 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, David Forsberg.


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


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


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


View My homes for sale at davidforsberg.pru-utah.com.

Bountiful Short Sales: Could The Realtor You Hire Kill Your Short Sale?

Bountiful UTAH – 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 house. We at the Stop Foreclosure Institute have successfully closed short sales for several years.


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


We’ve made it our business to know what we are doing. But, we see many agents that have no clue about short sales (or the short sale process) listing short sales.


This gives short sales a bad name. Many agents have been involved in short sales where the listing agent didn’t know what they were doing.


Because of that the short sale wasn’t successful and that agent and their customer wasted time. In the future they are going to think twice before showing a short sale. This hurts other short sale sellers.


It really gets on my nerves that people who don’t know what they are doing can ruin it for everyone else. If you are thinking about short selling your home, make sure you hire a competent, experienced short sale agent.


(A competent, experienced agent will be successful at 80-90% of all the short sales they take on.)


Here are a few of the things that agent should avoid.


1. Submitting multiple offers to the short sale lender. Only the best offer should be submitted. A confused mind says no. Most short sale negotiators have between 50 and 200 short sale files on their desk.


To ask them to weigh the benefits of 3 short sale offers on just one of those 50 files is probably more than their brain can handle. No, I’m not saying their brain is stupid.


It’s just that a human brain can only handle so much information before it stops working.


2. Realtors submitting incomplete paperwork to the short sale lender. There is a method to follow. Every good short sale realtor understands stacking order, and the importance of easy to read paperwork.


3. Submitting low offers to the lender. All this does is waste time. If a lender is not likely to accept the offer, then don’t waste 45-60 days negotiating it with them.


Get an offer at (or near) fair market value and submit that to the short sale lender. That helps avoid wasting everyone’s time.


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 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.


Thinking about a loan modification? Our Layton 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, David Forsberg.


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


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


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


View My homes for sale at davidforsberg.pru-utah.com.


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


Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. 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. The views expressed here are David Forsberg's personal views and do not reflect the views of Prudential Utah Real Estate - Bountiful.


This information on Layton Short Sales: Could The Realtor You Hire Kill Your Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Bountiful Short Sales: Why Do Lenders Pretend To Care About Their Customers?

Bountiful UTAH – Have you ever attempted to get a loan modification? If you have, then you probably get bugged when you hear banks talk about how they suposedly care about their customers.


Somehow these banks think we will believe it. They must think that, or they wouldn't be running ads that say: "Come to ABC Bank. We answer you by your first name. You're not a number. We care about you."


What a bunch of garbage. Anyone who has attempted to negotiate a loan modification feels like they just went thru the meat grinder.


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


"Sir, we can't approve your loan modification until you send us the APG form", the person at the bank tells you. "But, I already faxed that to you five different times over the last month", you reply.


"Sir, that doesn't matter. I don't see if in the system and until I see it in the system, I can't look at your loan modification application", they reply to you.


Aarrgghh!!! Is that frustrating or what. So, here's a little message to the advertising departments at America's Banks.


Don't run ads saying you care about us, until you actually do. People that apply for loan modification just want to keep their home.


In many cases, a loan modification will reduce a lender's losses. Why can't you just make the loan modification process a little easier.


Maybe then you can run ads where you claim to care about your customers and we might actually believe them then. 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 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.


Thinking about a loan modification? Our Layton 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, David Forsberg.


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


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


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


View My homes for sale at davidforsberg.pru-utah.com.

Bountiful Short Sales: How To Get A Short Sale Lender To Waive Deficiency Clause

Bountiful UTAH – I 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 deficiency. I have a first and 2nd with Chase and owe 270K on the home. The buyer's loan is also with Chase.


How can I work this out so that I can walk away from this without owing any money? Is it even possible with such a large difference between what the house is worth and what is owed? John.”


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


Here is the answer to John's Question: John, you need to read thru the short sale approval letter. See if is contains any language like “Payoff”, “Forgiven”, or “agrees to release the debt.”


Have an attorney read it over to make sure that it says the debt will be released. If it doesn’t say the debt will be released, then here is how you can re-negotiate for them to issue a complete release.


1. Request that the deficiency be waived. Tell the lender you will not short sale the property unless they give you a complete release.


2. Show proof that you cannot afford the deficiency payment. A debt from an absolutely broke person is worthless.


3. Show proof that the lender will net more money from the short sale compared to a foreclosure. This is your agent’s job to do. They will put together a calculation showing how much the lender is netting from the short sale, and project what they would net from a foreclosure.


If you cannot prove that you income doesn't cover your bills, then you may need to look into other avenues. You can look into getting a forensic loan audit to see if the lender broke any lending laws on the loan. 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 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.


Thinking about a loan modification? Our Layton 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, David Forsberg.


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


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


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


View My homes for sale at davidforsberg.pru-utah.com.

Bountiful Short Sales: Will I Still Have To Pay Property Taxes If I Do a Short Sale?

Bountiful UTAH – I 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? Max."

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here is the answer to Paul's Question: In most cases your lender will pay those property taxes. Property taxes are a first priority lien on a property.

That means that if a property is foreclosed upon, then they still have to be paid. They don’t go away for any reason.

This is also why most lenders want to charge you monthly and then pay the property taxes themselves. They know that the taxes are a big bill that only comes once a year.

Not everyone can afford that big bill. Because your lender knows they will still have to pay the taxes after a foreclosure, they are willing to pay them during a short sale.

A foreclosure is a liquidation of the property to simply get what they can and move on. A short sale has been proven to net them more money than a foreclosure.

So if they are liquidating the property, why net more money from the sale with a short sale and avoid a foreclosure? That’s why they will pay the taxes when you short sale.

Every short sale the Stop Foreclosure Institute has sold resulted in the lender paying the property taxes that were owed. In some cases they paid 2-3 years of property taxes. 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 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.

Thinking about a loan modification? Our Layton 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, David Forsberg.

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

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

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

View My homes for sale at davidforsberg.pru-utah.com.

Bountiful Short Sales: I Have Mortgage Insurance. Won't That Cover The Deficiency?

Bountiful UTAH – I recently received a question from Manny. Here is Manny's Question.


"If I pay mortgage insurance and default on my loan, why wouldn’t that cover the deficiency amount? Manny."


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


Here is the answer to Manny's Question: Yes, the Mortgage Insurance should pay your lender for any loss. So that reduces the amount that your lender will lose on the short sale.


There are a couple of problems. Many Mortgage Insurance Companies have gone bankrupt. They simply can't pay on their claims.


In this situation your lender may or may not pursue you for the loss.


(I've written extensively on deficiencies on other blog posts. In 60-75% of all short sales, you won't owe a deficiency. E-mail me at utahhomesaver@gmail.com and I can research your specific situation.)


The other problem is that many Mortgage Insurance Companies have terms written into the mortgage that they can pursue you for the loss.


They are more aggressive with trying to be repaid. In the few short sales we have negotiated and the lender asked for a promissory note, the person requesting it usually was the Mortgage Insurance Company.


But, they only ask for a promissory note about half the time. In addition, the promissory notes are usually for an amount lower than the loss.


For example on one short sale, the loss was around $59,000. The seller agreed to a promissory note of $10,000 to be repaid over the next 10 years with Zero Interest. Their Monthly Payment was $83.33.


We won't know if they will ask for a promissory note until the short sale is in progress. If you know you have Mortgage Insurance, then you need to find and aggressive short sale agent.


They will work to get an promissory note or deficiency waived. 


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 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.


Thinking about a loan modification? Our Layton 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, David Forsberg.


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


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


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


View My homes for sale at davidforsberg.pru-utah.com.

Bountiful Short Sales: How Much Do You Charge For A Short Sale?

Bountiful UTAH – I recently received a question from Tim. Here is Tim'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 exact service and what are the fees involved? I do not have any cash in savings and pretty much live paycheck to paycheck. Tawny."


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


Here is the answer to Tim's Question: A Short Sale doesn't cost the homeowner any money. All of the costs are paid for by the homeowner's lender.


Now, I'm sure you are asking, "The bank is losing money on the short sale. They wouldn't want to have to pay to sell the property."


Many people also think this. After all, it makes sense logically. But, it's actually not the case.


Banks have been lending money for centuries. They have learned from past experience that a short sale is a good way to cut their losses.


In fact, a recent study by the Boston Consulting Group actually showed that a short sale reduced a lender's losses by 20%, compared to a foreclosure.


After a lender forecloses on a property they put it up for sale. They have to hire and pay a real estate agent and all the other related costs.


Why not pay those costs on a short sale and cut their losses by 20%? It's a good business decision. And that's why a short sale doesn't cost the homeowner anything.


Your lender covers all the cost including the real estate agent, title fees, and other closing costs. 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 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.


Thinking about a loan modification? Our Layton 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, David Forsberg.


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


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


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


View My homes for sale at davidforsberg.pru-utah.com

Bountiful Short Sales: What you can expect during and after the Short Sale Process

Bountiful UTAH – 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 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.


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


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. That is scary. Don’t you agree?


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.


It might seem like the process takes a long time. Some short sales only take a few months. Before you know it you are moving out of your house and onto the next place.


However, some short sales will take a lot longer. We have some files that we have been working on for a year or even longer.


It’s not the end of the world. Just stay put and keep on saving the money you would be using for rent. In most cases the short sale will eventually be approved and you can move on with your life.


Your lender may attempt to collect money from you when they aren’t legally entitled to do so. We have heard several stories of some lenders asking for a promissory note when the state the property was in did not allow the lender to pursue the homeowner after a short sale.


The stories in question were for short sales of properties in California and Washington. Don’t sign a promissory note a lender sends you after a short sale when you are in a non-recourse state.


Talk to a lawyer to see if you are obligated to repay the debt. You could probably get out of repaying it if you tried. 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 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.


Thinking about a loan modification? Our Layton 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, David Forsberg.


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


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


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

Bountiful Short Sales: How To Convince A Lender To Waive A Promissory Note

Bountiful UTAH – 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.

Another common type is loans that were granted with Private Mortgage Insurance. In our experience, these companies are very demanding.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

They negotiate hard and say they will not approve a short sale without a promissory. However, that is not always the case.

You can often convince them to waive the deficiency if you do the following.

1. Prove to them that you don’t have any assets or any extra monthly income.

2. Prove that your home is worth what the buyer is offering on the short sale. This is your agent’s job to do. Your agent will put together an agent’s version of an appraisal.

This will include comparable sales and what your property is worth, based on those comparable sales. Your agent will show them that they are better off accepting the short sale.

If you have presented your case well and the lender buys it, then they will usually waive the deficiency or promissory note and accept what they can get. After all, something is better than nothing. Make sense?

Another option is to hire a good lawyer to negotiate for you. Look for a lawyer with experience in bankruptcy.

They can use the threat of bankruptcy to convince the lender to approve the short sale with the deficiency waived. Bankruptcy is very bad for creditors.

If you declare bankruptcy, then it could take 12-18 months before the lender can sell the house. Their right to collect from you would be wiped out in bankruptcy.

A short sale where they get their money today is a much better option. That’s why they’ll usually take that option when threatened with bankruptcy. 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 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.

Thinking about a loan modification? Our Layton 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, David Forsberg.

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

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

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

Bountiful Short Sales: The Nuclear Option

Bountiful UTAH – 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 lender forces you to sign a promissory note, then sign it and never make a payment. Here is what we recommend that you do to avoid paying the promissory note.


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


It takes time for the lender to move your file out of the collections system. This will last for anywhere from 1 month to 6 months.


The rest of this post is simply my opinion. It is not legal advice. I am just telling you what I would do if I was in this situation.


Simply tell the debt collectors that you are trying to avoid bankruptcy. Do not give them any more information! Don’t dispute that you owe them money.


And definitely don’t agree to pay them anything, or tell them that you might be able to pay them. In my opinion, you are better off just hanging up on any collector that calls you.


Anything you say can and will be used against you. This is why you are better off not saying anything. After a while the phone calls and mail will stop. Hopefully you will never hear from your lender again.


In order for the lender to get you to pay, they will have to garnish your wages or your bank account.


That isn’t easy to do. There are many legal defenses you can use to stop them from garnishing your wages. One of our short sale customers had an unpaid credit card that was trying to garnish her wages.


Here is what she told me that she did to stop the garnishment. She was in Florida and Florida law stipulates that if someone has children living in their home, then a creditor cannot garnish their wages.


She had a daughter that lived with her, found the rule, and stopped the garnishment. There are many other strategies you can use to stop garnishments. Talk to a lawyer as they will know the different ways you can stop a garnishment under your state’s laws.


Now for one last strategy to stop a garnishment: Protesting. Yes, that’s right. Stand out in front of the local bank branch. Hold up a sign telling your story. Just make sure your sign appeals to most people driving past.


In most cases, the lender will stop the garnishment. They don’t want the bad publicity. I know someone who threatened a large national bank with protests.


A Vice President of the bank called them a few days later and resolved the situation. This is all based on one simple thing. A bully always picks on the weaker victims.


Sure they will beat up on little kids. But, there is always one little kid who fights like crazy. They use whatever they can to defend themselves against the bully.


In the fight the bully gets hurt. Maybe not bad, but they get hurt nonetheless. Next time they are looking for a victim are they going to beat up on that little kid?


No. They’ll find another victim who won’t put up a fight. Very few people fight. They just pay the lender. That’s why the few people that do fight get preferential treatment.


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 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.


Thinking about a loan modification? Our Layton 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, David Forsberg.


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


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


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

Bountiful Short Sales: Don’t sweat it if the first buyer gets impatient and walks off

Bountiful UTAH – 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 moved on to another property.


Most lender short sale departments are overworked. That is why it takes 60-90 days for them to get back with an answer on the short sale.


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


Some buyers get impatient and move on before they get an answer. On the other hand, we have seen some buyers wait for 4-5 months to get an answer on their offer.


The lender approved their offer and they bought the house. That’s why we don’t sweat it if a buyer gets impatient. Another buyer will come along and buy the house and wait the necessary time for their offer to be approved.


Besides, we usually know what price the lender will accept and the next buyer’s offer can be approved much faster. 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 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 Click here to request a copy.


Thanks for reading this, David Forsberg.


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


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


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


David 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.

Bountiful Short Sales: Are Lenders So Desperate They Will Accept Any Offer?

Bountiful UTAH – 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 50 cents on the dollar with no money down.


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


Myth #3: Lenders will accept any short sale offer even if it is for only 50% of what the home is worth. After all, they don’t want a foreclosure on their books.


These myths are just flat out false. Lenders ARE willing to foreclosure on properties. They have entire departments handle the sale of properties that they have foreclosed on.


Another foreclosure is nothing to fear. At the same time, they do prefer short sales. Short Sales are known to reduce a lender’s loss compared to a short sale.


They have high paid actuaries who have run the numbers and proved that to be the case. That means they take a pragmatic approach on short sales.


They want to make sure that the short sale offer isn’t lower than what the home would sell if they foreclosed on it. That is why they order an appraisal before accepting the offer.


They won’t agree to a sale if the offer is for substantially less than the appraised value. If the offer is 5% lower than the appraisal, then they might accept it.


If it is substantially less, then they will ask the buyer to raise their offer to the appraised value.


Another thing lenders check before approving a short sale is that they aren’t approving a short sale for someone that is able to afford their home.


They don’t want to lose money on a short sale when they can make money when the person repays the loan. 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 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.


Thinking about a loan modification? Our Layton 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, David Forsberg.


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


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


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

Bountiful Short Sales: Who is in charge during a short sale?

Bountiful UTAH – 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 to sell it to. Only the home owner can do that. Why is that?


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


Until the lender forecloses on the home the home owner is in the driver’s seat. They “own” the property until the lender forecloses.


We have had many buyers get angry that a home owner would not accept their lowball offer. “You have to submit my offer to the lender. If you don’t then that would be fraud”, they tell the home owner.


You, the home owner are in charge. That means that you can make the following decisions.


You are allowed to pick the buyer’s offer that you think the lender will be most likely to accept.


You are allowed to turn down offers that you don’t like for whatever reason. (Maybe the buyers are too picky about the home and want you to make repairs.)


You are allowed to turn down offers if the buyer is not pre-approved for a loan. In addition, you can ask the buyer to inspect the property before they write a contract.


You are allowed to ask for an earnest money deposit to make sure the buyer is serious about the house.


It is your right to do these things for as long as you own the property. Don’t let anyone tell you otherwise. 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 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.


Thinking about a loan modification? Our Layton 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, David Forsberg.


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


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


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

Bountiful Short Sales: Seven Ways You Benefit From A Short Sale

Bountiful UTAH – 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 was the first thing that popped into our head. But, I knew there are more benefits to a home owner than simply better credit. So I put together the entire list and here they are.


Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.


1. The upside down debt is erased in most cases. If you are selling because of a financial hardship, then the upside down debt will be automatically erased in most cases. Is your loan is owned or insured by the following agencies: Fannie Mae, Freddie Mac, FHA, and or VA? If you are short selling because of a financial hardship, their policies state that your debt will be erased.


2. You are eligible to buy another home much sooner compared to a foreclosure. The most common loan program, Fannie Mae, stipulates that you can buy another home under their program in 2 years. FHA, a popular low down payment loan program stipulates that you can qualify for an FHA loan within 3 years.


3. No Cost To You. That is right. A short sale costs you nothing. All of the expenses are paid for by your lender. That includes the title insurance, any county taxes or fees on the sale, attorney fees, and the Real Estate Agent. If the lender foreclosed on the house and then tried to sell it, they would have to pay all the costs. So why not pay the costs with a short sale?


4. Your credit suffers less damage. Most people think that a short sale will be the kiss of death to their credit. That is the one big advantage of a short sale over a foreclosure.


Upon completion of the short sale, your credit score will drop between 50 and 100 points. However it will rebound fairly quickly. The other benefit is that you will have less debt. (A lot of debt hurts your credit score.) You will have a lower debt to income ratio, which will boost your credit.


In a couple of years your credit will be back to normal and you can buy another home. In addition, anything and everything bad on your credit can be fixed thru the dispute process.


5. You can often rent a comparable house for less than your former mortgage payment. In one example, a homeowner in foreclosure found a larger home. It even had a fenced backyard for their kid and a garage. Their prior mortgage payment was $1,500. They rented the nicer, bigger house for $850 a month.


6. You avoid the humiliation of a foreclosure.


7. You don’t have to pay rent during the short sale process. A short sale can take up to 6 or 9 months. Not all of them do. But, some do. If you aren’t concerned about your credit, then you can stop making your mortgage payments during the short sale. You can use the savings for the deposit on a rental.


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 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.


Thinking about a loan modification? Our Layton 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, David Forsberg.


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


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


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