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Hollister Short Sale Question: Is This Lender Lying to Me?

Hollister CA – The Stop Foreclosure Institute recently received this question from another agent. Here is her question.

"I was just told by the lender on a short sale that the institution will have to "close" the file because they buyer's name changed. The person in charge said that due to Freddie and Fannie rules, if the buyer's name changes, they require the file to closed and reopened.

"That would cause the file to drag out another 60 to 90 days. It would make sense to simply process the file now rather than wait until later. Why lose all the work that has been done up until now, just to do it all again 60 days from now?"

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

Here is our answer to the question. That sounds like a lie to me. Threaten to call Fannie Mae. The phone number is 202-243-5400. Call them if it takes too long to re-open the new file. Oftentimes, Freddie or Fannie will re-open the new one in a week.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at israel@ighomes.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 (831) 636-8858.

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

Thinking about a loan modification?Our Hollister 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 to israel@ighomes.com to request a Free Copy.

Or, click here to request a copy.

Thanks for reading this.~Israel Gonzalez.

Israel is a Real Estate Agent at Beale Properties.

Phone: (831) 636-8858. israel@ighomes.com.

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

Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.

Important Notice

Israel Gonzalez, Beale Properties, 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?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Gonzalez's personal views and do not reflect the views of Beale Properties.

This information on "Hollister Short Sale Question: Is This Lender Lying to Me?" is provided as a courtesy to our readers to help them make informed decisions.

Posted: Wednesday, November 16, 2011 8:14 AM by Israel and Rachel Gonzalez

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