Part 2 – Were just going to go ahead if we could and just jump right into the short sale information. Jeri, again thank you so much for taking the time to be with us. What is the name of your firm?

Our group is Dream Vesting Group and our brokerage is Keller Williams Arizona Realty.

So that is great, licensed agents with Keller Williams and I know the two of you and I know of your history and we will talk a little bit more about that, but you have been working together for awhile. You and I had a chance to speak about the short sales and your success rate, very, very impressive proven results always helps. So the natural first question for those that are listening today. What is a short sale exactly?

A short sale is a property sale where the bank or lender agrees to accept less than what is owed to them. So the bank is agreeing to take a loss on the sale of your property, and I like what you said earlier about not trusting a loan modification or a short sale to just anybody, you definitely dont want to be the guinea pig and you dont want to approach the bank yourself and ask them to please take a loss because you need to sell your home.

And that is one of the things that is funny nowadays. I know people have seen them pop up all over the town, the ugly yellow bill boards all over the place. Advertising on the radio about loan modifications and they have 100% success rate, all kinds of these different things. The same thing with short sales, you actually have a process and you have a lot of experience doing it, you know the ins and the outs and this isnt a part time job this is a fulltime job.

Absolutely is a fulltime more than fulltime job, the last three Sundays I have been on the phones with lenders when they are open, one of them has a call center in India. I have been on the phone from 10 oclock at night until Midnight and again at 6am with the same lender trying to stop foreclosure.

Well that is good that you have the time, Take the time to do that. I am sorry that you have to work that many hours but you know Kalyn, is it not true that the sooner we get through all of these short sales and loan modifications the better off were all going to be anyway right?

Absolutely, a lot of people ask, what does it take? Who should be considering a short sale? If youre late on your mortgage currently, if your mortgage has adjusted, if you can no longer afford your monthly payment, if you foresee yourself not being able to afford your monthly payments, any of these instances plus several more, you should definitely be sitting down with someone and talking about your options which would be most likely a short sale or loan modification.

Yes the last thing anyone wants, and I mean anyone, is a foreclosure, that is the last resort. Nobody wants a foreclosure; you dont want it on your record, you dont want to have to deal with that. Its a very public event, a foreclosure is, the banks dont want you to foreclose and that is probably why they are so willing to work with you would you say? Absolutely the banks dont want the home back no matter what they tell you.

Exactly and on the loan modification side people try on their own to do this and its true that people can actually do a loan modification on their own but there are so many pitfalls and its just not something you want to try on your own. Surely you dont want to try a short sale on your own. So Jeri let me ask you this, what are some of the main objections?

The main objection that we hear from most of our clients is the cost to them, they already cant afford the payment on their mortgage or they wouldnt be in that particular situation 9 times out of 10 and so they are concerned about cost. Most people have already resigned themselves to the fact that they are losing their home and they dont want to spend any more money on it.

The good news is in a short sale you dont have to spend anymore money, all of the costs are absorbed by the bank. They agree to lose more money basically, so there is no realtor fees and the majority of the time we can negotiate an as is contract so if there are repairs that need to be made they dont come to you and ask you to do it, its just factored into the cost. So its very effective for homeowners.

And again it keeps them from going into foreclosure. They get to stay in the house and they get to save whatever is left of their dignity, some people take it very pride fully as well. So Kalyn, the second most common objection is?… http://realestatemarketingthisweek.com

Duration : 0:6:34

Technorati Tags: bank, bank short sale, banking, banks, card, credit, Estate, finance, financial, foreclosed, foreclosure, foreclosure short sale, foreclosures, home, interest, Lender, lender short sale, lending, loan, loans, mortgage, mortgage short sale, mortgages, quick, real, real estate short sale, refinance, sale, savings, short, Short sale

http://mrmortgage.ml-implode.com

Wells Fargo Subprime toxic waste exposed. Do they have to raise capital? Mr Mortgage shows a 2006 Wells rate sheet. This is hard evidence of Wells doing nasty subprime loans for borrowers with scores as low as 500 and 120-day mortgage late payments, which is essentially foreclosure status. They did not sell this directly to consumers, rather used correspondents like New Century, Accredited, Countrywide etc to rebrand the programs and sell them as their own. This is a very common practice but this just proves Wells is dirtier than most. First, because not everyone did subprime. Second, because they lied of course.

Duration : 0:7:48

Technorati Tags: Alt, banks, bear, bubble, bust, crisis, Estate, foreclosure, home, Housing, Lehman, mortgage, mr, real, recession, Stearns, subprime

Duration : 0:3:23

Technorati Tags: and, ant, banks, credit, Crunch, debt, dec, decline, economy, mash, money, monster, overdraft, Poor, silly, skint, song

We Stop Foreclosure Rescue Scams (2008) by Kyra Olds

This is a documentary about mortgage foreclosure rescue scams that are occurring across the country in light of the growing foreclosures. The movie describes common scam tactics and how distressed homeowners fall for these scams. The movie concludes with what lawyers can do to challenge these scams in court and the Washington State Legislature’s response to try to to stop these scams by passing House Bill 2791 and Senate Bill 6381. It is intended to educate advocates so they can better assist homeowners facing foreclosure.

Director: Kyra Olds
Producer: Northwest Justice Project
Sponsor: Eric Dunn
Keywords: foreclosure rescue scam; washington; mortgage; foreclosure; 2791; northwest justice project; njp
Contact Information: Northwest Justice Project 401 2nd Ave S Seattle, WA 98104 www.nwjustice.org

Creative Commons license: Attribution-Noncommercial-Share Alike 3.0 United States

Credits:
We Stop Foreclosure Rescue Scams
by Northwest Justice Project;

Featuring:
Eva, Client of NJP; Eric Dunn, Attorney at NJP; Melissa Huelsman, Private; Attorney in Seattle; Judy Poston, Housing Counselor at Solid Ground; Julia Kellison, Attorney at NJPl; Fred Corbit, Attorney at NJP

Produced by: Kyra Olds, Intern at NJP

Foreclosures are increasing nationwide, and so are scams that promise to rescue homeowners from foreclosure. What these scams do is take your money, ruin your credit record, and wipe out any equity you have in your home. Foreclosure con artists take advantage of people who have fallen behind on their mortgages and face foreclosure. Con artists know that people in these situations are vulnerable and likely to be desperate. Potential victims are easy to find: mortgage lenders publish notices before foreclosing on homes. After reading such notices, con artists approach their targets in person, by mail, over the telephone, or by e-mail. They advertise their services on Web sites or publications. They often refer to themselves with titles that sound official, such as foreclosure consultant or mortgage consultant, and market themselves as a foreclosure service or foreclosure rescue agency. Your mortgage lender or any legitimate financial counselor can help you find real options to avoid foreclosure. If someone offers to negotiate with your lender and offers to arrange to stop or delay foreclosure for a fee, carefully check his or her credentials, reputation, and experience. To protect yourself, follow the recommendations contained in this Consumer Advisory.

Duration : 1:34:41

Technorati Tags: artist, artists, banking, bankruptcy, banks, con, confidence, counselor, credit, crime, criminal, crisis, crooked, Crunch, debt, equity, Estate, fake, fakes, family, finances, financial, Financing, foreclosure, foreclosures, fraud, home, Homeowner, homeowners, Homes, houses, Housing, Lease-Back, Lender, lenders, Living, loan, loans, mortgage, mortgages, Option, options, owners, ownership, Payment, payments, problems, real, refinancing, Repurchase, rescue, Scam, scams, schemes, servicers, states, street, United, US, USA, wall, Washington

I felt compelled to check on my own cards and see what was up – I was very unpleasantly surprised. This is what I learned. Call your credit card companies!

Duration : 0:2:33

Technorati Tags: America, bank, banks, cards, con, congress, credit, depression, discover, loan, of, poverty, revolt, shark, trick

US Treasury- Do I qualify for a mortgage abatement, reduction, rewrite, modification Mortgage Debt Relief Act forgiveness relief mortgage backed securities ron paul alex jones peter schiff george soros burning down the house real estate rick santelli we the people campaign for liberty bailout scam fraud ponzi madoff congress senate dems republicans democrats depression recession

http://www.mutualfundcenter.com

http://www.atlanticfinancial.com

http://www.fentonreport.com/2004/08/16/health-living/scam-artists/72

http://www.fentonreport.com/2004/08/23/trends/the-internet-is-dead-%c2%a0%c2%a0-i-don%e2%80%99t-think-so/73

http://www.fentonreport.com/2004/08/30/economy/who-is-alan-greenspan/74

Duration : 0:1:55

Technorati Tags: act, bailout, banks, barney, countrywide, FANNIE, foreclosure, frank, FREDDIE, Help, homeowners, mortgage, Obama, Scam, stability

2 Get the best rate and the terms.

Among our registered lenders are: Bank of America, Wells Fargo Bank, Washington Mutual and over 10,000 other banks, brokers and private investors who will have instant access directly to your loan application.
If your loan request fits their lending criteria, they can immediately provide you with a “Letter of Interest” and a loan approval.
You may receive 4-6 bids. These bids will come directly to your own Loan Control Center with email notification to you.
You can compare offers and then choose the best one or negotiate further. View sample results

Any Property, Any credit, Any income,
Any state, any city…
Our lenders accept requests for loans for many property types.

Duration : 0:4:22

Technorati Tags: banks, commercial, Estate, hard, investors, lenders, loans, money, mortgage, private, real

Duration : 0:2:16

Technorati Tags: banks, bill, bills, cash poor, collateral, collector, credit, credit unions, debt, equity, Estate, Financing, heirs, home, home line of equity, home loan, home loans, house, house rich, Housing, lean, lien, line of credit, liquid assets, loan, money, mortgage, new mortgage, old, older Americans, payments, phony, questions, refinancing, retirement, reverse, Reverse Mortgage, Scam, senior citizens, should I, tax

http://mrmortgage.ml-implode.com

S&P, BofA and Fitch all concur that the ‘Home Equity Implosion’ is knocking on, or kicking down rather, the front door.

Duration : 0:6:22

Technorati Tags: Alt, banks, bear, bubble, bust, crisis, Estate, foreclosure, home, Housing, Lehman, mortgage, mr, real, recession, Stearns, subprime

Recorded from Newsnight, 11 February 2010.

Duration : 0:9:58

Technorati Tags: banks, broken, card, chip, credit, crooked, Customer, debit, fraud, fraudulent, insecure, liable, pin, RFID, security, transaction, transactions, uk