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

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

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

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

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

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

Here was my response to Andrew’s email.

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

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

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

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

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

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

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

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

I can help you short sale your property and get back on your feet. Send me an e-mail at stevenrobertson@remax.net. 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 303-910-5655

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

Thinking about a loan modification? Our Westminster 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, Steven Robertson.

Steven is a Real Estate Agent at RE/MAX Alliance. Westminster Short Sales Realtor:

Phone: 303-910-5655. stevenrobertson@remax.net.

Colorado Distressed Property Consultant

View My homes for sale at www.MetroDenverRealEstate.com.

Steven Robertson specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor Westminster CO Short Sales. Westminster Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steven Robertson, RE/MAX Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Steven’s personal views and do not reflect the views of RE/MAX Alliance.

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

a href=”http://gainesvilleshortsaleblog.com/wp-content/uploads/2012/04/frustrated.jpg”>Westminster CO – Are you pulling your hair out trying to convince your lender to reduce the amount you owe on your home?

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

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

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

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

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

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

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

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

I can help you short sale your property and get back on your feet. Send me an e-mail at stevenrobertson@remax.net. 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 303-910-5655

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

Thinking about a loan modification? Our Westminster 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, Steven Robertson.

Steven is a Real Estate Agent at RE/MAX Alliance. Westminster Short Sales Realtor:

Phone: 303-910-5655. stevenrobertson@remax.net.

Colorado Distressed Property Consultant

View My homes for sale at www.MetroDenverRealEstate.com.

Steven Robertson specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor Westminster CO Short Sales. Westminster Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steven Robertson, RE/MAX Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Steven’s personal views and do not reflect the views of RE/MAX Alliance.

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

Westminster CO – Thinking about a loan modification. If you can afford to, then order an appraisal. Or, do your own appraisal.

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

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

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

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

Look at the example numbers below.

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

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

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

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

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

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

I can help you short sale your property and get back on your feet. Send me an e-mail at stevenrobertson@remax.net. 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 303-910-5655

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

Thinking about a loan modification? Our Westminster 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, Steven Robertson.

Steven is a Real Estate Agent at RE/MAX Alliance. Westminster Short Sales Realtor:

Phone: 303-910-5655. stevenrobertson@remax.net.

Colorado Distressed Property Consultant

View My homes for sale at www.MetroDenverRealEstate.com.

Steven Robertson specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor Westminster CO Short Sales. Westminster Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steven Robertson, RE/MAX Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Steven’s personal views and do not reflect the views of RE/MAX Alliance.

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

Westminster CO – It’s sad that the banks aren’t willing to give anyone a principal reduction. The banks reasoning is that if they start granting principal reductions, then every single upside down homeowner will want one.

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

As a result people are stuck overpaying for their upside down homes. Take an example of a family who bought their home at the peak of the market. Their monthly payment was $1,400.

Their lender agreed to forgive their missed back payments. But, they wouldn’t reduce their monthly payment. So, this family start looking at other options.

They had recently had their first kid and wanted to move out of their townhouse. They wanted a house with a yard. They found a bigger home with a large yard for their daughter.

The new home even had a 2 car garage that their townhouse didn’t They liked the new home. But, they liked the payment even better. The rent payment was $850 a month.

That’s a 39% reduction in their monthly payment. Even worse, it would have taken 25 years for their house to be worth what they had paid for it.

Let’s say that they had had accepted their lender’s offer and agreed to pay $1,400 a month. According to my calculations, they would have paid their lender $165,000 extra above what they pay for rent.

Ouch! That is a good example of why loan modifications don’t help anyone but the banks. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at stevenrobertson@remax.net. 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 303-910-5655

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

Thinking about a loan modification? Our Westminster 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, Steven Robertson.

Steven is a Real Estate Agent at RE/MAX Alliance. Westminster Short Sales Realtor:

Phone: 303-910-5655. stevenrobertson@remax.net.

Colorado Distressed Property Consultant

View My homes for sale at www.MetroDenverRealEstate.com.

Steven Robertson specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor Westminster CO Short Sales. Westminster Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steven Robertson, RE/MAX Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Steven’s personal views and do not reflect the views of RE/MAX Alliance.

This information on Why Westminster Loan Modifications Are Bad: Family Rents Bigger House For $550 Less Than Old Home is provided as a courtesy to our viewers to help them make informed decisions.

a href=”http://gainesvilleshortsaleblog.com/wp-content/uploads/2012/03/losing.jpg”>
Westminster CO – Most people think that when a loan modification fails, then the homeowner who loses their home is the only party that loses. Well, often the bank loses as well. Let me explain why.

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

Many banks are turning down loan modifications where the payments received would repay a mortgage amount higher than what they sell the property for as a foreclosure.

A bank has two options when negotiating a loan modification.

Option 1: Foreclose and sell the property for $150,000.

Option 2: The homeowner is offering to repay $1,000 a month for the next 30 years. At today’s interest rates that will repay a $211,000 mortgage.

In fact, these same banks are spending thousands of dollars advertising to get people to borrow $211,000 and repay them $1,000 a month. But, in most cases they would rather foreclose and kick this homeowner out of their home.

This makes the bank a loser on two counts. First, they are losing money. But, second of all, they are a loser for unnecessarily kicking a family out of their home. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at stevenrobertson@remax.net. 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 303-910-5655

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

Thinking about a loan modification? Our Westminster 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, Steven Robertson.

Steven is a Real Estate Agent at RE/MAX Alliance. Westminster Short Sales Realtor:

Phone: 303-910-5655. stevenrobertson@remax.net.

Colorado Distressed Property Consultant

View My homes for sale at www.MetroDenverRealEstate.com.

Steven Robertson specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor Westminster CO Short Sales. Westminster Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steven Robertson, RE/MAX Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Steven’s personal views and do not reflect the views of RE/MAX Alliance.

This information on Westminster Short Sales: Who Loses When A Loan Modification Fails? is provided as a courtesy to our viewers to help them make informed decisions.

Westminster CO – Everyone who has every tried to negotiate a loan modification with their lender has been frustrated with the process.

We hear the following comments from frustrated homeowners all the time. “Why won’t they work with me?” I want to keep my home and pay them a reasonable payment. My home has dropped so much in value that they are better off taking my payments. I don’t understand.”

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

Here is why I think that so many loan modifications are turned down: The banks don’t have any skin in the game. You see, in most cases the bank any losses are not born by the bank.

They are usually born by Uncle Sam or some other entity. Here is a Shocking Fact: Most banks don’t own the loans they are handling.

In fact, one of the “Big Four US Banks” only owns around 20% of the loans they hold. They are handling the other 80% as a “servicer.”

The actual owner might be Fannie Mae, Freddie Mac, a Wall Street Trust, or a pension fund. A servicer acts as a trustee for the actual investor.

They collect the payments and handle the “Lender” Functions. They then forward the money to the owner of the loan each month. The lenders get paid the same amount of money whether they do a good job or not.

Are they motivated to do a good job with your loan modification application? Many people experience long waits trying to get their loan mods accepted. I think this is the reason why.

Here is the closest comparison to how the banks are handling things. Let’s say you managed an apartment community. You only returned calls from prospective tenants one day during the week.

The other days you went fishing. As a result, half of the apartments were empty. Would you really be representing the owner of this property properly?

Would the owner miss out on tenants who could rent an apartment? Would that apartment manager be unhappy? You bet they would be. The same problem is happening with loan modifications and short sales.

The lenders don’t have enough staff in place to handle loan mod and short sale applications. As a result, they are foreclosing on properties when they really should be reducing the payment.

But, the average American doesn’t realize that this is happening. It’s time we tell them about it. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at stevenrobertson@remax.net. 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 303-910-5655

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

Thinking about a loan modification? Our Westminster 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, Steven Robertson.

Steven is a Real Estate Agent at RE/MAX Alliance. Westminster Short Sales Realtor:

Phone: 303-910-5655. stevenrobertson@remax.net.

Colorado Distressed Property Consultant

View My homes for sale at www.MetroDenverRealEstate.com.

Steven Robertson specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor Westminster CO Short Sales. Westminster Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steven Robertson, RE/MAX Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Steven’s personal views and do not reflect the views of RE/MAX Alliance.

This information on Westminster Short Sales: Why Do So Many Loan Modifications Fail? is provided as a courtesy to our viewers to help them make informed decisions.

Westminster CO – The Stop Foreclosure Institute recently received a question from James. “My loan was just sold. I was making payments to CitiFinancial and they sold it to Nationstar. Is that good or bad?” James asked.

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

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

James’s loan was more than likely packaged up and sold off. I asked him who his original lender was. He said it was a company called First Magnus. (First Magnus declared bankruptcy in 2007 and was afterwards closed.)

The Stop Foreclosure Institute has negotiated short sales on loans that were originally with First Magnus. The last one was sold to a large Wall Street Firm and securitized.

That means James’s loan could be owned by anyone. 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 CitiFinancial to act as their front man. That means Citi collected the payments, handled escrows and accounting, and manages debt collections and foreclosures.

More than likely Nationstar did not buy the loan. Instead whoever owns the loan hired them to act as the front man instead of Citi.

Thinking about a Loan Modification?

Our Westminster loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at stevenrobertson@remax.net to request a Free Copy.

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 303-910-5655

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

Thanks for reading this, Steven Robertson.

Steven is a Real Estate Agent at RE/MAX Alliance. Westminster Short Sales Realtor:

Phone: 303-910-5655. stevenrobertson@remax.net.

Colorado Distressed Property Consultant

View My homes for sale at www.MetroDenverRealEstate.com.

Steven Robertson specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor Westminster CO Short Sales. Westminster Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steven Robertson, RE/MAX Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Steven’s personal views and do not reflect the views of RE/MAX Alliance.

This information on Question from homeowner: My lender just sold my loan. Is that a good thing? is provided as a courtesy to our viewers to help them make informed decisions.

Westminster CO – Everyone gets scared when they can’t pay a debt. “Am I at risk of going to jail? Will my friends find out? Will the bank sue me and take everything I own? Will the they garnish my wages? Will they levy my bank account?”

Here is a real life example. She didn’t have the money and stopped paying cold turkey.

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

I know a person who stopped paying on a bunch of debts. We’ll call her Jill. Jill short sold her house over two and a half years ago.

Her loan was with Countrywide, now owned by Bank of America. The owner of the loan was a “sliced and diced” trust.

I’ve called these “zombie debt owners”, because they usually don’t chase you down after a short sale. The owner of the loan lost around $85,000.

Long story short, she hasn’t paid a dime on the short sale loss. She got letters and phone calls from Bank of America for about 6 months. After that, they calls stopped.

She hasn’t heard anything from them since then. And she doesn’t expect to hear anything more. The nice thing about the “sliced and diced” loans is there is no single owner.

There are probably 10,000 owners of her loan scattered around the world. None of the owners has time to collect from her and Bank of America is too busy with all the other loans on their books.

In addition to the short sale, she stopped paying on five different credit cards with over $15,000 owed. She lost her job and simply did not have the money to pay them.

She is still getting phone calls today. Sure, she could get them to stop calling by sending them a letter.

But, they don’t bother her enough to do that. So they just call. As of today, only one of those creditors has file a lawsuit. The funny thing is they filed the lawsuit and then just let it sit there.

They didn’t file anything else for another 18 months. As of today, the case is still sitting in limbo. More than likely, it will be dismissed for lack of activity.

Even if the credit card company does get a judgment, they still have to collect on it. The fact is, only 15% of all judgments are ever paid.

But, at the rate their lawyers are going on the lawsuit, they probably won’t ever get a judgment. As you can see, Jill was able to walk away from around $100,000 in debt and will probably never pay them a dime.

She could settle with the credit card companies in the future for fifteen cents on the dollar. If so, then it will be because she wants to, not because she is getting forced to do it.

Thinking about a Loan Modification?

Our Westminster loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at stevenrobertson@remax.net to request a Free Copy.

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 303-910-5655

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

Thanks for reading this, Steven Robertson.

Steven is a Real Estate Agent at RE/MAX Alliance. Westminster Short Sales Realtor:

Phone: 303-910-5655. stevenrobertson@remax.net.

Colorado Distressed Property Consultant

View My homes for sale at www.MetroDenverRealEstate.com.

Steven Robertson specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor Westminster CO Short Sales. Westminster Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steven Robertson, RE/MAX Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Steven’s personal views and do not reflect the views of RE/MAX Alliance.

This information on Westminster Loan Mod: Short Sale Seller walked away from 100k in debt. Hasn’t paid a dime is provided as a courtesy to our viewers to help them make informed decisions.

Westminster CO – The Stop Foreclosure Institute recently received a question from a homeowner facing foreclosure. I’ll call him Peter to protect his identity.

(Foreclosure is embarrassing and I don’t want to put his name out there.) Peter asked, “I am six months behind on my mortgage payments. I just got the tax bill for 2010 in the mail. Should I pay it?”
He continued, “What will happen if I don’t pay it? Will my house be auctioned to pay the taxes?”

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

Here is the answer to Peter’s Question. It all depends on what his plans are and how tight he is on money.

Most people in Peter situation fall into one of 3 categories.

Category A. They want to keep their home. They are already working on a loan modification with their lender. They are saving every extra penny possible and maybe even working an extra job.

Category B. They don’t want to keep their home. They might be thinking about a short sale or deed-in-lieu of foreclosure.

Category C. Cannot afford to keep their home, but want to stay there as long as possible. Maybe they bought an expensive home and aren’t making the big bucks anymore. But, they can afford to rent a smaller, less expensive home.

First a little background on Peter. Peter is in Florida. In Florida, the county cannot auction your home to pay the taxes for at least 2 years. But, usually it is 5-7 years before that actually happens.

This means you have a long window to pay back that tax bill. here is the other thing that often happens. Your lender pays the tax bill. I’m sure you’re asking, “Why would the lender pay the tax bill?”

To protect their interest. If the house gets sold at auction, the lender’s first mortgage could be wiped out. Lender’s have whole departments that do nothing but track property taxes that are due and pay them if necessary. They will pay back taxes and tack it onto what you owe them.

Here is one other caveat: The interest rate on delinquent property taxes in Florida is 10-18%. That can rack up pretty fast.

Here are my answers for how Peter should handle this tax bill.

If he falls into Category A: Pay the tax bill as soon as possible AFTER your loan mod is approved. However, Peter should first attempt to negotiate a successful loan modification with his lender.

Most lenders want a “good faith down payment” to modify a loan. So until the modification goes thru, Peter save all his money for that.

Because if the loan modification is not approved, then Peter will have wasted money paying the taxes. It will be just one less payment for the bank after they foreclose.

If he falls into Categories B or C: Do not pay the tax bill. The lender will end up paying the bill after they foreclose. Or, it will be paid as part of a short sale. Peter will have sold the house, or his lender will have foreclosed on it long before it can be auctioned for unpaid taxes.

Thinking about a Loan Modification?

Our Westminster loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at stevenrobertson@remax.net to request a Free Copy.

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 303-910-5655

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

Thanks for reading this, Steven Robertson.

Steven is a Real Estate Agent at RE/MAX Alliance. Westminster Short Sales Realtor:

Phone: 303-910-5655. stevenrobertson@remax.net.

Colorado Distressed Property Consultant

View My homes for sale at www.MetroDenverRealEstate.com.

Steven Robertson specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor Westminster CO Short Sales. Westminster Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Steven Robertson, RE/MAX Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Steven’s personal views and do not reflect the views of RE/MAX Alliance.

This information on Westminster Loan Mod: We answer a question from a homeowner facing foreclosure is provided as a courtesy to our viewers to help them make informed decisions.

Westminster CO – Yes, short sales actually help preserve home values in a neighborhood. Here is why.

Most people short sell their home while they are still living in the home. They are maintaining the home, mowing the yard, keeping the air conditioning on, etc.

Most bank owned properties are empty for 3-6 months, if not longer. No one maintains the home during that time period. Empty homes are easy targets for vandalism and thieves.

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

The grass and yard get overgrown. Pools deteriorate and the water turns green with algae.
In some Southern States, such as Florida, if a home is not air conditioned during the summer, then mold will grow on the walls inside.

In the Northern States, if a home is not heated during the winter, then pipes can ice up and break causing a lot of plumbing damage.

Even things as simple as sprinkler system can have problems when they aren’t used for 3-6 months. A sprinkler system contractor recently told us that if the system isn’t ran at least once a month, then it can have problems.

All these things added together cause bank owned homes to sell for much less than a short sale. That is why you should be proud that you are short selling your house.

You are doing a big part to help keep the housing market and your neighborhood. In addition, you are helping the entire economy because the housing market is such an important part of it.

Thinking about a Loan Modification?

Our loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an email at stevenrobertson@remax.net to request a Free Copy.

Or, Click here to request a copy.

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 303-910-5655

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

Thinking about a loan modification? Our Westminster 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, Steven Robertson.

Steven is a Real Estate Agent at RE/MAX Alliance. Westminster Short Sales Realtor:

Phone: 303-910-5655. stevenrobertson@remax.net.

Colorado Distressed Property Consultant

View My homes for sale at www.MetroDenverRealEstate.com.

Steven Robertson specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor Westminster CO Short Sales. Westminster Realtor.

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Important Notice

Steven Robertson, RE/MAX Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

The views expressed here are Steven’s personal views and do not reflect the views of RE/MAX Alliance.

This information on How A Westminster Loan Mod Helps Preserve Neighborhood Values is provided as a courtesy to our viewers to help them make informed decisions