Bountiful Short Sales: Deed-In-Lieu of Foreclosure or Short Sale?

Bountiful UTAH - Many clients have asked us if they should do a deed-in-lieu of foreclosure and just give their house back to their lender. While this may seem somewhat extreme and without rationale, a deed-in-lieu does have its benefits. Lenders like them because they speed up the foreclosure.


A deed-in-lieu in a nutshell is like entering a “No Contest” plea in a criminal trial. You just give up on the foreclosure. If there is a foreclosure court case, the judge will still have to schedule a foreclosure sale.

Contrary to popular opinion, a deed-in-lieu does NOT automatically release you from the debt or deficiency.  This means that your lender could be pursuing you five years later, after you get back on your feet.

There is an application process. You will have to spend between 5 and 10 hours of your time submitting paperwork to your lender before they will approve the deed-in-lieu. Yes, it is completely insane!

Why should you have to submit paperwork to make it easier for your lender to foreclose on your house?  It simply does not make any sense. That is why I personally would recommend a short sale instead of a deed-in-lieu.

You get to avoid the humiliation and long term problems of a foreclosure on your credit report. In addition, most short sales allow you to stay in the home rent free for 3-6 months. And you can get up to $3,000 from the HAFA program.

That will help cover the cost to move and maybe even cover the deposit on a rental property. The other advantage with a short sale is that you will be able to buy another home sooner.  Because a deed-in-lieu acts as a foreclosure, you will not be eligible for a new mortgage for 5-7 years. With a short sale, you can be eligible to buy another house in as little as 2 years.

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.

Bountiful Real Estate Sales Transactions 11/18/2010

Bountiful UTAH - Bountiful Daily Real Estate Sales Transactions 11/18/2010

Call Dave @ 801.651.0707 or Email: utahhomesaver@gmail.com

Address                                                     Price           SqFt     BD    BT

Sold Property:

No Sold Properties Today

New Listings:

2460 S Elaine Dr, Bountiful UT 84010             $195,000       3450     6       3  Short Sale

145 E 1200 South, Bountiful, UT 84010          $209,900        2320     3       2  

630 E 1130 North, Bountiful, UT 84010           $219,000        2220     4       2

1216 N 900 East, Bountiful, UT 84010            $269,900        3512     4       3 

44 N 1000 East, Bountiful, UT 84010              $300,000        3977     7       4

2460 S Elaine Dr, Bountiful UT 84010

44 N 1000 East, Bountiful, UT 84010

Need to sell your home?  Do you know how much you home is worth in today's market?  Call Dave at 801.651.0707

Client Question Answered: My lender just sold my loan. Is that a good thing?

Bountiful UTAH - We recently received a question from a client of ours named Renee. “My loan was just sold. I was making payments to First Franklin and they sold it to a company called Litton. Is that good or bad?” Renee asked.


Here is the answer. It’s neither good nor bad. In fact, I don’t think your loan was actually sold. You see, most loans were packaged up and sold to Fannie Mae, Freddie Mac, or one of the Wall Street companies.

Renee’s loan was more than likely packaged up and sold off long ago. I asked her who his original lender was. She said it was a company called First Utah. (First Utah is a small local bank.)

The Utah Home Saver Team has negotiated short sales on loans that were originally with First Utah. The last one was sold to a large Wall Street Firm and bundled in to a mortgage backed security.  That means Renee’s loan could be owned by any one of many possible companies or investors. More than likely it is owned by Fannie Mae or Freddie Mac. If not, then it was probably sold to a Wall Street Firm.

The owner of the loan hired First Franklin to act as their "front man."  That means First Franklin collected the payments, handled escrows and accounting, and manages debt collections and foreclosures.  This is also known as being the SERVICER of the loan.

More than likely Litton did not actually buy the loan. Instead whoever owns the loan hired them to act as the front man instead of First Franklin.

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.

Bountiful Real Estate Sales Transactions 11/17/2010

Bountiful UTAH - Bountiful Daily Real Estate Sales Transactions 11/17/2010

Call Dave @ 801.651.0707 or Email: utahhomesaver@gmail.com

Address                                                     Price           SqFt     BD    BT

Sold Property:

No Sold Properties Today

New Listings:

349 N 350 West, Bountiful UT 84010             $183,000        2248     4       2  REO

667 W 3600 South, Bountiful, UT 84010         $209,900       2220     3       2  

1464 E Barton Creek, Bountiful, UT 84010      $499,900       6243     6       4.5 

349 N 350 West, Bountiful, UT 84010

272 E 1850 South, Bountiful, UT 84010

Need to sell your home?  Do you know how much you home is worth in today's market?  Call Dave at 801.651.0707

Bountiful Short Sales: "We thought it would work, but it didn't!"

Bountiful UTAH - By now, I’m sure you have at least heard mention of an technique called a FORENSIC LOAN AUDITS. A couple of agents and clients have told me how wonderful, amazing, and terrific they are. “Your lender will approve your short sale right away”, claims one eager agent.

“Your lender is more likely to give you a loan modification after you discover they broke the law. And most lenders broke the law during the crazy lending period we experienced recently”, claims another self assured agent.


A third agent told me a story about forensic loan audits. He worked with a lady who was trying to short sale three houses at one time. He knew they were short sales and was glad to list them for sale.  There was a guy (from a third party short sale "negotiation" company) involved who was supposed to be doing all the “negotiating” with the lender. Little did this agent know that this guy was trying to flip the houses on the back end. This guy had a forensic loan audit done.

He claimed that he paid a foreclosure defense lawyer out of his own pocket. He did all this "extra stuff" in an attempt to force the lender to approve the short sale.

The only problem was the lender didn’t care.  Big Problem.  There were not in the least bit impressed or threated by the forensic loan audit.  The bank' short sale negotiators were not going to approve the short sale offers so this "independent third party" guy could resell the home for a steep profit.

“We know this guy is trying to flop the houses. We won’t approve the short sales as long as he is involved in the transaction and still planning on doing that”, the bank said.


This was despite the claims that some professionals have made that a forensic loan audit will have lenders trip over themselves to approve the short sale.  


Please consider this story before you spend $500 to $1,500 of your money on a “Forensic Loan Audit.” I am in the business and talk to homeowners facing foreclosure every day.  I have heard less than a hand full of stories where a “forensic loan audit” made even a slight difference to the lender in the approval process.

I’m not saying that forensic loan audits don’t work.  I'm sure there are documented cases were they do in fact make a difference, but I just want to warn you and my clients to do their due diligence and check them out before spending big bucks for one, that will, in most cases, yield very few effective results.  In some cases lawyers are taking advantage of people by dangling a carrot in front of them, when the homeowner can least afford it.  Buyer beware.

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.

Bountiful Real Estate Transactions 11/16/2010

Bountiful UTAH - Bountiful Daily Real Estate Sales Transactions 11/16/2010

Call Dave @ 801.651.0707 or Email: utahhomesaver@gmail.com

Address                                                     Price           SqFt     BD    BT

Sold Property:
806 W 3600 South, Bountiful, UT 84010         $152,100       1704     3       2

New Listings:

272 E 1850 South, Bountiful UT 84010           $234,900       2160     4       3
3770 S 250 West, Bountiful, UT 84010           $450,000       4734     6       3.5

272 E 1850 South, Bountiful, UT 84010

3770 S 250 West, Bountiful, UT 84010

Need to sell your home?  Do you know how much you home is worth in today's market?  Call Dave at 801.651.0707

Bountiful Short Sales: A Common Myth About Banks and Short Sales

Bountiful UTAH - I have heard the following myth from a lot of people. Here is what they are telling  me:
“The banks can’t afford to approve loan modifications because they don’t want to take the losses on their books that fast. Also, their investors may not approve the short sale, because they can’t afford to write off too much loss at once.  And the circle goes around and around”, they say. This common myth simply is NOT true. Here is why.

The odds are that your loan is not owned by your lender. For example, 80% of all Bank of America’s (Countrywide, etc) loans are not owned by BofA. The biggest holders are the Government Sponsored Enterprises (aka called GSE's.) The GSE's are Fannie Mae, Freddie Mac, and Ginnie Mae.

These companies have become accustomed to huge losses. In fact, they have loan loss reserves on their books. The other entities that is accustomed to losses are The FHA and The VA. Between 65-70% of all US mortgages are owned or insure by the GSEs, FHA, or VA.

Even the smaller local banks and credit unions do not own a large percentage of the loans they hold in their portfolio. For example, another agent I know lives in a rather small town of approximately 25,000 people.  In this town, there is a single bank that dominates the home lending market.  The smart money would bet that this small bank was lending their own money. Not so. The majority of their home loans are sold off in the secondary market within 6-12 months after the loans are issued.  In my opinion, this is the real reason that loan modifications and short sale are can be so tough to gain approval on. Investor approval is where the delay is (Please remember: loan modifications and short sales will in most cases net the owner of the loan more money than a foreclosure.)

The companies that process the loan modifications and short sales won’t lose any money if the home is foreclosed. Here is a classic example of this. Let's say an agent is negotiating an FHA short sale with Bank of America.  The short sale negotiator told the agent that it would take her 2-3 weeks to review the offer and then submit it to FHA for final approval. How long was it going to take FHA to review the submitted file and respond?  The negotiator told the agent that that FHA had a 72 hour turnaround from when she submits the file to them. In the mean time, a buyer may have found an alternative home and walked away from the deal.  It’s pathetic. In this example, BofA isn’t losing the money, FHA is losing it instead. Yes, the system is not working, but no one in Washington or at the big banks really seems to care.

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.

Bountiful UTAH - Bountiful Real Estate Sales Transactions 11/15/2010

Bountiful UTAH - Bountiful Daily Real Estate Sales Transactions 11/15/2010

Call Dave @ 801.651.0707 or Email: utahhomesaver@gmail.com

Address                                                     Price           SqFt     BD    BT

Sold Property:
549 E Millcreek, Bountiful, UT 84010             $245,000       2892     4       2.5   

258 E 2300 South, Bountiful, UT 84010          $264,000       2880     4       3

New Listings:

273 E 1100 South, Bountiful UT 84010           $214,900       4110     6       4 REO

125 W 400 South, Bountiful, UT 84010           $329,900       2239     5       2

273 E 1100 South, Bountiful, Utah 84010

Need to sell your home?  Do you know how much you home is worth in today's market?  Call Dave at 801.651.0707

Bountiful Short Sales: How to Know When A Short Sale Negotiator is Lying to You

Bountiful UTAH – Negotiating short sales is tough. In my opinion, some of the banks are not making good financial decisions. “We can’t approve the file without the financials completely filled out,” they say.  Or, they tell you the numbers won’t work when the investor's guidelines actually say to approve the short sale. If the agent doesn’t know who owns the loan (or that company's/investor's short sale guidelines), then the bank negotiators can lie to them. They don’t know any better. Let me give you an example.


We recently closed a short sale that where the owner of the loan was the Fannie Mae (aka Federal National Mortgage Association.) The bank’s appraiser said the home was worth $250,000. Because of prior experience with Fannie Mae short sales, we knew what they would accept as a percentage of the home's value.  The short sale offer being presented would net them $8,000 more than that number.  The negotiator countered. He said the buyers needed to pay even more for the house. We asked the buyers if they would raise their offer.  They told us that their offer was their highest and best offer. They had looked at a bunch of other homes for sale. If their offer was not accepted they already had another home in mind that they would purchase.

Most agents are somewhat clueless about the guidelines for short sales from individual banks or investors.  They would have taken the short sale negotiator at face value. As a result, the short sale would have been rejected.  The buyer would have bought the other house and the seller would be at risk of losing the home to foreclosure.

Fortunately, we knew the short sale guidelines. Because we knew the numbers and the guidelines, we were able to push the negotiator for an approval without a single penny in additional funds. The file was approved and the sale closed a little while later.

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 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.

Bountiful Short Sales: How to Avoid Paying a Deficiency

Bountiful UTAH - Most short sales will end up in you walking away from your home owing nothing. However, some lenders will release the lien, but will not release you from the deficiency owed. Some banks have firm policies in place and will not change them for any reason. But there are solutions to this challenge.  Here is one thing that you can do in this situation.


If it comes down to it, AVOID FORECLOSURE, short sell your property and accept the deficiency. Then simply don’t pay on the deficiency. In most cases, inertia and the banks' ridiculous disorganization will be on your side.

Here is a secret that the banks don't want you to know:  It is very hard for the lender to collect from you. Sure, they can and may drag you into court. But, let's face it, this action takes time and lots of money. The fact is, the American Legal System is designed to protect the borrower, in most cases, especially when the borrower simply shows up for the court hearing.

A full time debt collection firm who buys defaulted Home Equity Loans, admitted in the New York Times that it is veru difficult to collect deficiencies. Clark Terry, the chief executive of Utah Loan Servicing, said the most he will pay for an defaulted home equity loan is $500. Why is that?  Because they are so hard to collect on. “Anything over $15,000 to $20,000 is not collectible,” he said. The article where I found this is “Debts Rise, and Go Unpaid, as Bust Erodes Home Equity", published August 11, 2010 in the New York Times.

The lenders (and debt buyers, which are usually law firms) know it will cost them at least $2,000 to go to court to perfect their judgment. After that, most people will simply declare bankruptcy and not pay them a dime. This fact makes the banks very reluctant to pursue you legally. Here is the other thing on your side.  It’s simple inertia. The lenders and debt buyers deal on a volume basis. They know that if they use simple collection techniques, a certain percentage of people will pay. They don’t have time to go through every single loan and implement every single collection technique.  So they do what they can. Their most effective, low cost collection technique is harassing phone calls. They setup special phone software (aka robot dialers) that allows their collectors to talk to 15-20 people an hour. This harsh boiler room technique may get or scare some people in to paying, but is far from a sure thing.  Be strong and hold your ground.  Read up on the Fair Debt Collection Practices Act, and if the collectors violate it, take them to court.

These same principles could work for all sorts of debts. It should be able to work work for defaulted credit cards, defaulted second mortgages, and other people attempting to collect from you. In the next post, I will lay out the process you can use to avoid paying this debt back.

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 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 Real Estate Sales Transactions 11/12/2010

Bountiful UTAH - Bountiful Daily Real Estate Sales Transactions 11/12/2010

Call Dave @ 801.651.0707 or Email: utahhomesaver@gmail.com

Address                                                     Price           SqFt     BD    BT

Sold Property:

None

New Listings:

314 W Center, Bountiful, UT 84010               $110,000        925      2        1   

499 N 400 East, Bountiful, UT 84010             $107,000       1324     2        2

505 E 900 North, Bountiful, UT 84010            $149,000       1377     3        2 Short Sale

1384 E Vineyard Dr, Bountiful, UT 84010        $329,900       4042     6       4 Short Sale

1384 Vineyard Dr, Bountiful, UT 84010

505 E 900 North, Bountiful, UT 84010

Need to sell your home?  Do you know how much you home is worth in today's market?  Call Dave at 801.651.0707

Bountiful Short Sales: Who benefits from a short sale?

Bountiful UTAH – First, it benefits the owner of the loan. This is because they get to sell the house at today’s price, versus what it will be worth 6-12 months down the road. I just did a comparison and pulled up sold listings.

All of the listings were the similar properties in similar neighborhoods. First, I looked up the average selling price per  of homes that sold in Spring. They sold for an average of $114 a SQFT.  Next, I pulled up comparable homes in the same neighborhoods that sold as REOs in the last 2 months. They are sold for an average of $78 a SQFT. These homes average 1,950 a SQFT. That means a 1,700 REO sold for $70,200 less. Oye-Vey!  Short sales actually help the bank's bottom line, as well.


Another person that’s getting value is the buyer. They get a better deal in today’s market than buying a home from someone who is trying to squeeze out every penny.

You, the seller also benefit. You will be eligible to buy another home in 24 months. You have a better chance of getting a job, because many employers check that nowadays, no matter how unfair this maybe, its reality. A short sale is a Win-Win-Win for all parties involved.

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 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 the time 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 penny. 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.

Bountiful Real Estate Sales Transactions 11/11/2010

Bountiful UTAH - Bountiful Daily Real Estate Sales Transactions 11/11/2010

Call Dave @ 801.651.0707 or Email: utahhomesaver@gmail.com

Address                                                     Price           SqFt     BD    BT
Sold Property:
None
New Listings:
243 E Mill St, Bountiful, UT 84010                $219,800        5462     6       7   

290 N 500 West #109, Bountiful, UT 84010   $107,000        1043     2        2 

243 E Mill Street, Bountiful, UT 84010

Need to sell your home?  Do you know how much you home is worth in today's market?  Call Dave at 801.651.0707

Bountiful Short Sales: How Short Sales Help Our Economy

Bountiful UTAH –
It is fairly common knowledge that banks lose money when they turn down fair short sale offers.  A recent study by Boston Consulting Group showed that a lender will net 20% more money on a short sale versus a foreclosure sale.


The reason is because short sales usually sell for more money than a foreclosure and do not compound the amount of legal fees associated with a foreclosure. A short sale is usually in better condition, while a foreclosure is usually in some state of disrepair. Most economic experts say housing is one of the biggest drags in today’s economy. Every single foreclosure that sells for less money can drag the rest of the housing market down.

Homeowners often move out after they stop paying. The yard becomes overgrown. This drags the resale value down. This can be a common practice in both short sale and foreclosure situations.  In addition, the  foreclosure process may take as long as 15-20 months (or more) to complete and actual have a new occupant in the property.

That means the banks loses money because of interest and property taxes on the house. This drags down the banks finances. They have less money to lend out, which continues the downward spiral of the economy.

This is an example of a recently rejected short sale that was foreclosed and resold. It illustrates that short sales net more money for the bank compared to the property being foreclosed upon.

A local Bountiful resident had their home listed with an agent we know for $155,000. Eventually an offer came in for $145,900. The agent attempted to negotiate a short sale with the lender. The lender turned it down.  The house was eventually foreclosed on 12 months later. It sold for $121,400. That is a $24,500 loss, in sales price alone, then you must add in foreclosure costs (legal fees, cash for keys, commission, insurance, utilities, property preservation), lost interest, property taxes, etc.


This is exactly why you SHOULD NOT feel bad that you are short selling your home. In fact, I think you should get credit for the positive impacts you are having on the local economy.

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 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 the time 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 penny. 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.

Bountiful Real Estate Sales Transactions 11/10/2010

Bountiful UTAH - Bountiful Daily Real Estate Sales Transactions 11/10/2010

Call Dave @ 801.651.0707 for more information or Email: utahhomesaver@gmail.com

Address                                                     Price           SqFt     BD    BT
Sold Property:
None
New Listings:
83 S 800 East, Bountiful, UT 84010             $219,800        2536     4        2  

499 N 200 West #9, Bountiful, UT 84010      $249,000        1844     3        2 Estate Sale

83 S 800 East, Bountiful, UT 84010

Need to sell your home?  Do you know how much you home is worth in today's market?  Call Dave at 801.651.0707 to find out.