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Debt Relief – Insolvency – Bankruptcy Information » Foreclosure Law » Real Estate Marketing – What is a Short Sale and How to Negotiate to Stop Foreclosure? – Part 7

Real Estate Marketing – What is a Short Sale and How to Negotiate to Stop Foreclosure? – Part 7


realestatemarketingthisweek.com – Real Estate Marketing – Prices are back to 2003 levels A Short Sale is significantly cheaper for a bank than a foreclosure – Produced by Dan Havey of Real Estate Marketing This Week Part 7 – Were in the studio today with Kalyn Roberts and Jeri League of the Dreamvesting Group, these two young ladies are experts in the short sale area, they are NOT going to tell you what you want to hear, they are going to tell you what you need to hear. There is a big difference between what you want and what you need in the case of getting out of a situation. We talked during the break about the different types of people; who qualifies, who doesn’t qualify, who this is good for, and who its not good for. I want you to talk about people who are upside down and how you’re here to help. What we want to get across today if you just need to call someone if you’re upside down in your mortgage, if you have a listing next door and its a bank owned or short sale, there is a good chance you’re probably upside down in you mortgage if you bought anytime in the last, in the last 5 years were almost back to 2003 pricing now. Just to jump in real quick, Jeri and Kalyn its not just the people who purchased, its the people who used their homes as ATMs which is a crude way for me to say it but lets be honest. You watch the television, and I am not going to name any names, but a company that rhymes with lie-tech though, they have a commercial where they are showing

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10 Responses to "Real Estate Marketing – What is a Short Sale and How to Negotiate to Stop Foreclosure? – Part 7"

  1. principles101 says:
    If the loan has MI (Mortgage Insurance) on it, good luck trying to get an approval to short sale it. Now, they can double dip!
  2. Shockofsanta says:
    @REMarketingThisWeek

    LOL! A balanced budget law! We already have one, its called the debt ceiling limit! Ha ha ha.

    The Constitution authorizes congress to enter into debt, but it also says “no state shall make anything but gold and silver coin a tender in payment of debt.”

    The debt debate is irrelevant because at its foundation the fiat debt “federal reserve” is unconstitutional.

    Thanks for the conversation.

  3. REMarketingThisWeek says:
    @Shockofsanta – I’m not in favor of any extra-constitutional actions, just vote out the bad ones, approve a Balances Budget Amendment and appoint only strict-constructionists to the bench.
  4. Shockofsanta says:
    @REMarketingThisWeek

    I would think a strict adhehence to the Constitution would suffice. We need to move in the direction of prosecuting those who betrayed it, and we shouldnt further count on the Judicial branch to enforce the Constitution as it has proved lame(corrupt?) as fuck.

  5. REMarketingThisWeek says:
    @Shockofsanta – I agree that there are many in the Congress who are responsible for the boom and then the crash, as well as the big banks and the rating agencies. We just need to keep moving in the direction of smaller government and less taxes, which adds up to more freedom for all – the freedom that our founders had intended for us.
  6. Shockofsanta says:
    @REMarketingThisWeek

    Technically, I would say the Gov. owns the house first whether its paid off or not. Taxes taxes, you no pay ever and ever increasing tax – lose house.

    Its in a banks best interest to foreclose, even at a monetary loss, so as to bury their fraud. Once someone is foreclosed on and broke they’re unlikely to pursue the matter any further.

    This issue, the fraud behind the housing boom bust and all of that, in my opinion, amounts to treason.

  7. REMarketingThisWeek says:
    @Shockofsanta – In the event of a foreclosure sale/auction, if the bank receives a higher bid than what is owed on the home, the excess funds go to the home owner. If the bank sells the house after taking back the property (meaning no bids at the sale/auction) then they can sell the home for whatever the market will bear. You are right, the bank does not own the house. The homeowner owns the house. The bank owns the debt against the house which they may have sold an interest in.
  8. REMarketingThisWeek says:
    @alexnds1 – Its MERS (Mortgage Electronic Registration System). The ‘produce the note’ defense has been used successfully in some states
  9. alexnds1 says:
    The banks got the loan under something called the “MARS” system. That means, the loan was packaged and resold on the secondary market as a collection of pooled money notes. The notes are the key to the lien. If they can’t prove they have the lien, they can prove they gave the money, but if they can’t prove the lien, that means they don’t have collateral behind the loan. Therefore, they can’t foreclose. Make your attorney DEMAND THEY HAVE THE LIEN AS PROOF
  10. Shockofsanta says:
    @ 3:45 “the banks do not want the house back” OH HOW WRONG YOU ARE! If you “owe” less than what they can resale it for they will try to screw you and foreclose. Plus, they dont even own the freaking house, they sold it, then it got sliced diced and sold again. Ask a bank to prove they own the house your paying them for. THEY CANT!

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