Terms of Use

1. User’s Acknowledgment and Acceptance of Terms

yourhomeoptions.org(“Us” or “We”) provides the yourhomeoptions.org site and various related services (collectively, the “site”) to you, the user, subject to your compliance with all the terms, conditions, and notices contained or referenced herein (the “Terms of Use”), as well as any other written agreement between us and you. In addition, when using particular services or materials on this site, users shall be subject to any posted rules applicable to such services or materials that may contain terms and conditions in addition to those in these Terms of Use. All such guidelines or rules are hereby incorporated by reference into these Terms of Use.

BY USING THIS SITE, YOU AGREE TO BE BOUND BY THESE TERMS OF USE. IF YOU DO NOT WISH TO BE BOUND BY THE THESE TERMS OF USE, PLEASE EXIT THE SITE NOW. YOUR REMEDY FOR DISSATISFACTION WITH THIS SITE, OR ANY PRODUCTS, SERVICES, CONTENT, OR OTHER INFORMATION AVAILABLE ON OR THROUGH THIS SITE, IS TO STOP USING THE SITE AND/OR THOSE PARTICULAR PRODUCTS OR SERVICES. YOUR AGREEMENT WITH US REGARDING COMPLIANCE WITH THESE TERMS OF USE BECOMES EFFECTIVE IMMEDIATELY UPON COMMENCEMENT OF YOUR USE OF THIS SITE.

These Terms of Use are effective as of Immediate. We expressly reserve the right to change these Terms of Use from time to time without notice to you. You acknowledge and agree that it is your responsibility to review this site and these Terms of Use from time to time and to familiarize yourself with any modifications. Your continued use of this site after such modifications will constitute acknowledgement of the modified Terms of Use and agreement to abide and be bound by the modified Terms of Use.

As used in these Terms of Use, references to our “Affiliates” include our owners, subsidiaries, affiliated companies, officers, directors, suppliers, partners, sponsors, and advertisers, and includes (without limitation) all parties involved in creating, producing, and/or delivering this site and/or its contents.

2. Description of Services

We make various services available on this site including, but not limited to, technical consulting, website developement, SEO consulting, and other like services. You are responsible for providing, at your own expense, all equipment necessary to use the services, including a computer, modem, and Internet access (including payment of all fees associated with such access).

We reserve the sole right to either modify or discontinue the site, including any of the site’s features, at any time with or without notice to you. We will not be liable to you or any third party should we exercise such right. Any new features that augment or enhance the then-current services on this site shall also be subject to these Terms of Use.

3. Registration Data and Privacy

In order to access some of the services on this site, you will be required to use an account and password that can be obtained by completing our online registration form, which requests certain information and data (“Registration Data”), and maintaining and updating your Registration Data as required. By registering, you agree that all information provided in the Registration Data is true and accurate and that you will maintain and update this information as required in order to keep it current, complete, and accurate.

You also grant us the right to disclose to third parties certain Registration Data about you. The information we obtain through your use of this site, including your Registration Data, is subject to our Privacy Policy, which is specifically incorporated by reference into these Terms of Use.

4. Conduct on Site

Your use of the site is subject to all applicable laws and regulations, and you are solely responsible for the substance of your communications through the site. By posting information in or otherwise using any communications service, chat room, message board, newsgroup, software library, or other interactive service that may be available to you on or through this site, you agree that you will not upload, share, post, or otherwise distribute or facilitate distribution of any content — including text, communications, software, images, sounds, data, or other information — that:

a. is unlawful, threatening, abusive, harassing, defamatory, libelous, deceptive, fraudulent, invasive of another’s privacy, tortious, contains explicit or graphic descriptions or accounts of sexual acts (including but not limited to sexual language of a violent or threatening nature directed at another individual or group of individuals), or otherwise violates our rules or policies;

b. victimizes, harasses, degrades, or intimidates an individual or group of individuals on the basis of religion, gender, sexual orientation, race, ethnicity, age, or disability;

c. infringes on any patent, trademark, trade secret, copyright, right of publicity, or other proprietary right of any party;

d. constitutes unauthorized or unsolicited advertising, junk or bulk email (also known as “spamming”), chain letters, any other form of unauthorized solicitation, or any form of lottery or gambling;

e. contains software viruses or any other computer code, files, or programs that are designed or intended to disrupt, damage, or limit the functioning of any software, hardware, or telecommunications equipment or to damage or obtain unauthorized access to any data or other information of any third party; or

f. impersonates any person or entity, including any of our employees or representatives.

We neither endorse nor assume any liability for the contents of any material uploaded or submitted by third party users of the site. We generally do not pre-screen, monitor, or edit the content posted by users of communications services, chat rooms, message boards, newsgroups, software libraries, or other interactive services that may be available on or through this site. However, we and our agents have the right at their sole discretion to remove any content that, in our judgment, does not comply with these Terms of Use and any other rules of user conduct for our site, or is otherwise harmful, objectionable, or inaccurate. We are not responsible for any failure or delay in removing such content. You hereby consent to such removal and waive any claim against us arising out of such removal of content. See “Use of Your Materials” below for a description of the procedures to be followed in the event that any party believes that content posted on this site infringes on any patent, trademark, trade secret, copyright, right of publicity, or other proprietary right of any party.

In addition, you may not use your account to breach security of another account or attempt to gain unauthorized access to another network or server. Not all areas of the site may be available to you or other authorized users of the site. You shall not interfere with anyone else’s use and enjoyment of the site or other similar services. Users who violate systems or network security may incur criminal or civil liability.

You agree that we may at any time, and at our sole discretion, terminate your membership, account, or other affiliation with our site without prior notice to you for violating any of the above provisions. In addition, you acknowledge that we will cooperate fully with investigations of violations of systems or network security at other sites, including cooperating with law enforcement authorities in investigating suspected criminal violations.

5. Third Party Sites and Information

This site may link you to other sites on the Internet or otherwise include references to information, documents, software, materials and/or services provided by other parties. These sites may contain information or material that some people may find inappropriate or offensive. These other sites and parties are not under our control, and you acknowledge that we are not responsible for the accuracy, copyright compliance, legality, decency, or any other aspect of the content of such sites, nor are we responsible for errors or omissions in any references to other parties or their products and services. The inclusion of such a link or reference is provided merely as a convenience and does not imply endorsement of, or association with, the site or party by us, or any warranty of any kind, either express or implied.

6. Intellectual Property Information

Copyright (c) Immediate yourhomeoptions.org All Rights Reserved.

For purposes of these Terms of Use, “content” is defined as any information, data, communications, software, photos, video, graphics, music, sounds, and other material and services that can be viewed by users on our site. This includes message boards, chat, and other original content.

By accepting these Terms of Use, you acknowledge and agree that all content presented to you on this site is protected by copyrights, trademarks, service marks, patents or other proprietary rights and laws, and is the sole property of yourhomeoptions.org and/or its Affiliates. You are only permitted to use the content as expressly authorized by us or the specific content provider. Except for a single copy made for personal use only, you may not copy, reproduce, modify, republish, upload, post, transmit, or distribute any documents or information from this site in any form or by any means without prior written permission from us or the specific content provider, and you are solely responsible for obtaining permission before reusing any copyrighted material that is available on this site. Any unauthorized use of the materials appearing on this site may violate copyright, trademark and other applicable laws and could result in criminal or civil penalties.

Neither we or our Affiliates warrant or represent that your use of materials displayed on, or obtained through, this site will not infringe the rights of third parties. See “User’s Materials” below for a description of the procedures to be followed in the event that any party believes that content posted on this site infringes on any patent, trademark, trade secret, copyright, right of publicity, or other proprietary right of any party.

All custom graphics, icons, logos and service names are registered trademarks, trademarks or service marks of ToddJob Consulting LLC or its Affiliates. All other trademarks or service marks are property of their respective owners. Nothing in these Terms of Use grants you any right to use any trademark, service mark, logo, and/or the name of ToddJob Consulting LLC or its Affiliates.

7. Unauthorized Use of Materials

Subject to our Privacy Policy, any communication or material that you transmit to this site or to us, whether by electronic mail, post, or other means, for any reason, will be treated as non-confidential and non-proprietary. While you retain all rights in such communications or material, you grant us and our agents and affiliates a non-exclusive, paid-up, perpetual, and worldwide right to copy, distribute, display, perform, publish, translate, adapt, modify, and otherwise use such material for any purpose regardless of the form or medium (now known or not currently known) in which it is used.

Please do not submit confidential or proprietary information to us unless we have mutually agreed in writing otherwise. We are also unable to accept your unsolicited ideas or proposals, so please do not submit them to us in any circumstance.

We respect the intellectual property of others, and we ask you to do the same. If you or any user of this site believes its copyright, trademark or other property rights have been infringed by a posting on this site, you or the user should send notification to our Designated Agent (as identified below) immediately. To be effective, the notification must include:

1. Identify in sufficient detail the copyrighted work that you believe has been infringed upon or other information sufficient to specify the copyrighted work being infringed).

2. Identify the material that you claim is infringing the copyrighted work listed in item #1 above.

3. Provide information reasonably sufficient to permit us to contact you (email address is preferred).

4. Provide information, if possible, sufficient to permit us to notify the owner/administrator of the allegedly infringing webpage or other content (email address is preferred).

5. Include the following statement: “I have a good faith belief that use of the copyrighted materials described above as allegedly infringing is not authorized by the copyright owner, its agent, or the law.”

6. Include the following statement: “I swear, under penalty of perjury, that the information in the notification is accurate and that I am the copyright owner or am authorized to act on behalf of the owner of an exclusive right that is allegedly infringed.”

7. Sign the paper.

8. Send the email communication to the following address:

help@yourhomeoptions.org

You acknowledge and agree that upon receipt of a notice of a claim of copyright infringement, we may immediately remove the identified materials from our site without liability to you or any other party and that the claims of the complaining party and the party that originally posted the materials will be referred to the United States Copyright Office for adjudication as provided in the Digital Millennium Copyright Act.

8. Disclaimer of Warranties

ALL MATERIALS AND SERVICES ON THIS SITE ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR THE WARRANTY OF NON-INFRINGEMENT. WITHOUT LIMITING THE FOREGOING, WE MAKE NO WARRANTY THAT (A) THE SERVICES AND MATERIALS WILL MEET YOUR REQUIREMENTS, (B) THE SERVICES AND MATERIALS WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, (C) THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE SERVICES OR MATERIALS WILL BE EFFECTIVE, ACCURATE OR RELIABLE, OR (D) THE QUALITY OF ANY PRODUCTS, SERVICES, OR INFORMATION PURCHASED OR OBTAINED BY YOU FROM THE SITE FROM US OR OUR AFFILIATES WILL MEET YOUR EXPECTATIONS OR BE FREE FROM MISTAKES, ERRORS OR DEFECTS.

THIS SITE COULD INCLUDE TECHNICAL OR OTHER MISTAKES, INACCURACIES OR TYPOGRAPHICAL ERRORS. WE MAY MAKE CHANGES TO THE MATERIALS AND SERVICES AT THIS SITE, INCLUDING THE PRICES AND DESCRIPTIONS OF ANY PRODUCTS LISTED HEREIN, AT ANY TIME WITHOUT NOTICE. THE MATERIALS OR SERVICES AT THIS SITE MAY BE OUT OF DATE, AND WE MAKE NO COMMITMENT TO UPDATE SUCH MATERIALS OR SERVICES.

THE USE OF THE SERVICES OR THE DOWNLOADING OR OTHER ACQUISITION OF ANY MATERIALS THROUGH THIS SITE IS DONE AT YOUR OWN DISCRETION AND RISK AND WITH YOUR AGREEMENT THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM SUCH ACTIVITIES.

Through your use of the site, you may have the opportunities to engage in commercial transactions with other users and vendors. You acknowledge that all transactions relating to any merchandise or services offered by any party, including, but not limited to the purchase terms, payment terms, warranties, guarantees, maintenance and delivery terms relating to such transactions, are agreed to solely between the seller or purchaser of such merchandize and services and you. WE MAKE NO WARRANTY REGARDING ANY TRANSACTIONS EXECUTED THROUGH, OR IN CONNECTION WITH THIS SITE, AND YOU UNDERSTAND AND AGREE THAT SUCH TRANSACTIONS ARE CONDUCTED ENTIRELY AT YOUR OWN RISK. ANY WARRANTY THAT IS PROVIDED IN CONNECTION WITH ANY PRODUCTS, SERVICES, MATERIALS, OR INFORMATION AVAILABLE ON OR THROUGH THIS SITE FROM A THIRD PARTY IS PROVIDED SOLELY BY SUCH THIRD PARTY, AND NOT BY US OR ANY OTHER OF OUR AFFILIATES.

Content available through this site often represents the opinions and judgments of an information provider, site user, or other person or entity not connected with us. We do not endorse, nor are we responsible for the accuracy or reliability of, any opinion, advice, or statement made by anyone other than an authorized ToddJob Consulting LLC spokesperson speaking in his/her official capacity. Please refer to the specific editorial policies posted on various sections of this site for further information, which policies are incorporated by reference into these Terms of Use.

You understand and agree that temporary interruptions of the services available through this site may occur as normal events. You further understand and agree that we have no control over third party networks you may access in the course of the use of this site, and therefore, delays and disruption of other network transmissions are completely beyond our control.

You understand and agree that the services available on this site are provided “AS IS” and that we assume no responsibility for the timeliness, deletion, mis-delivery or failure to store any user communications or personalization settings.

SOME STATES OR JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES, SO SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU.

9. Limitation of Liability

IN NO EVENT SHALL WE OR OUR AFFILIATES BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY SPECIAL, PUNITIVE, INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES OF ANY KIND, OR ANY DAMAGES WHATSOEVER, INCLUDING, WITHOUT LIMITATION, THOSE RESULTING FROM LOSS OF USE, DATA OR PROFITS, WHETHER OR NOT WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND ON ANY THEORY OF LIABILITY, ARISING OUT OF OR IN CONNECTION WITH THE USE OF THIS SITE OR OF ANY WEB SITE REFERENCED OR LINKED TO FROM THIS SITE.

FURTHER, WE SHALL NOT BE LIABLE IN ANY WAY FOR THIRD PARTY GOODS AND SERVICES OFFERED THROUGH THIS SITE OR FOR ASSISTANCE IN CONDUCTING COMMERCIAL TRANSACTIONS THROUGH THIS SITE, INCLUDING WITHOUT LIMITATION THE PROCESSING OF ORDERS.

SOME JURISDICTIONS PROHIBIT THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, SO THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU.

10. Indemnification

Upon a request by us, you agree to defend, indemnify, and hold us and our Affiliates harmless from all liabilities, claims, and expenses, including attorney’s fees, that arise from your use or misuse of this site. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you will cooperate with us in asserting any available defenses.

11. Security and Password

You are solely responsible for maintaining the confidentiality of your password and account and for any and all statements made and acts or omissions that occur through the use of your password and account. Therefore, you must take steps to ensure that others do not gain access to your password and account. Our personnel will never ask you for your password. You may not transfer or share your account with anyone, and we reserve the right to immediately terminate your account if you do transfer or share your account.

12. Participation in Promotions

From time to time, this site may include advertisements offered by third parties. You may enter into correspondence with or participate in promotions of the advertisers showing their products on this site. Any such correspondence or promotions, including the delivery of and the payment for goods and services, and any other terms, conditions, warranties or representations associated with such correspondence or promotions, are solely between you and the advertiser. We assume no liability, obligation or responsibility for any part of any such correspondence or promotion.

13. E-mail, Messaging, Blogging, and Chat Services

We may make email, messaging, blogging, or chat services (collectively, “Communications”) available to users of our site, either directly or through a third-party provider. We make available separate supplemental agreements characterizing the relationship between you and us that, except where expressly noted or contradictory, includes these Terms.

We will not inspect or disclose the contents of private Communications except with the consent of the sender or the recipient, or in the narrowly-defined situations provided under the Electronic Communications Privacy Act, or as other required by law or by court or governmental order. Further information is available in our Privacy Policy.

We may employ automated monitoring devices or techniques to protect our users from mass unsolicited communications (also known as “spam”) and/or other types of electronic communications that we deem inconsistent with our business purposes. However, such devices or techniques are not perfect, and we will not be responsible for any legitimate communication that is blocked, or for any unsolicited communication that is not blocked.

Mailboxes may have a limited storage capacity. If you exceed the maximum permitted storage space, we may employ automated devices that delete or block email messages that exceed the limit. We will not be responsible for such deleted or blocked messages.

14. International Use

Although this site may be accessible worldwide, we make no representation that materials on this site are appropriate or available for use in locations outside the United States, and accessing them from territories where their contents are illegal is prohibited. Those who choose to access this site from other locations do so on their own initiative and are responsible for compliance with local laws. Any offer for any product, service, and/or information made in connection with this site is void where prohibited.

15. Termination of Use

You agree that we may, in our sole discretion, terminate or suspend your access to all or part of the site with or without notice and for any reason, including, without limitation, breach of these Terms of Use. Any suspected fraudulent, abusive or illegal activity may be grounds for terminating your relationship and may be referred to appropriate law enforcement authorities.

Upon termination or suspension, regardless of the reasons therefore, your right to use the services available on this site immediately ceases, and you acknowledge and agree that we may immediately deactivate or delete your account and all related information and files in your account and/or bar any further access to such files or this site. We shall not be liable to you or any third party for any claims or damages arising out of any termination or suspension or any other actions taken by us in connection with such termination or suspension.

16. Governing Law

This site (excluding any linked sites) is controlled by us from our offices within the IL, United States of America. It can be accessed from all 50 states, as well as from other countries around the world. As each of these places has laws that may differ from those of IL, by accessing this site both of us agree that the statutes and laws of the State of IL, without regard to the conflicts of laws principles thereof and the United Nations Convention on the International Sales of Goods, will apply to all matters relating to the use of this site and the purchase of products and services available through this site. Each of us agrees and hereby submits to the exclusive personal jurisdiction and venue any court of competent jurisdiction within the State of IL with respect to such matters.

17. Notices

All notices to a party shall be in writing and shall be made either via email or conventional mail. Notices to us must be sent to the attention of Customer Service at help@yourhomeoptions.org, by email. Notices to you may be sent to the address supplied by you as part of your Registration Data. In addition, we may broadcast notices or messages through the site to inform you of changes to the site or other matters of importance, and such broadcasts shall constitute notice to you at the time of sending.

18. Entire Agreement

These terms and conditions constitute the entire agreement and understanding between us concerning the subject matter of this agreement and supersedes all prior agreements and understandings of the parties with respect to that subject matter. These Terms of Use may not be altered, supplemented, or amended by the use of any other document(s). Any attempt to alter, supplement or amend this document or to enter an order for products or services which are subject to additional or altered terms and conditions shall be null and void, unless otherwise agreed to in a written agreement signed by you and us. To the extent that anything in or associated with this site is in conflict or inconsistent with these Terms of Use, these Terms of Use shall take precedence.

19. Miscellaneous

In any action to enforce these Terms of Use, the prevailing party will be entitled to costs and attorneys’ fees. Any cause of action brought by you against us or our Affiliates must be instituted with one year after the cause of action arises or be deemed forever waived and barred.

You may not assign your rights and obligations under these Terms of Use to any party, and any purported attempt to do so will be null and void. We may free assign our rights and obligations under these Terms of Use.

You agree not to sell, resell, reproduce, duplicate, copy or use for any commercial purposes any portion of this site, or use of or access to this site.

In addition to any excuse provided by applicable law, we shall be excused from liability for non-delivery or delay in delivery of products and services available through our site arising from any event beyond our reasonable control, whether or not foreseeable by either party, including but not limited to, labor disturbance, war, fire, accident, adverse weather, inability to secure transportation, governmental act or regulation, and other causes or events beyond our reasonable control, whether or not similar to those which are enumerated above.

If any part of these Terms of Use is held invalid or unenforceable, that portion shall be construed in a manner consistent with applicable law to reflect, as nearly as possible, the original intentions of the parties, and the remaining portions shall remain in full force and effect.

Any failure by us to enforce or exercise any provision of these Terms of Use or related rights shall not constitute a waiver of that right or provision.

20. Contact Information

Except as explicitly noted on this site, the services available through this site are offered by help@yourhomeoptions.org If you notice that any user is violating these Terms of Use, please contact us at tkrause@toddjob.net.

Blog and Message Board Terms of Use

yourhomeoptions.org(“We” or “Us” or “Our”) offers the use of its blogging and message board services (along with the content posted thereon, the “Services”) subject to the terms and conditions of use (the “Terms”) contained herein. All references herein to “We,” “Us,” or “Our” are intended to include yourhomeoptions.org and any other affiliated companies. By accessing, creating or contributing to any blogs or messages hosted by us (the “Blog”), and in consideration for the Services we provide to you, you agree to abide by these Terms. Please read them carefully before posting to or creating any Blog. We reserve the right to change, at any time, at our sole discretion, the Terms under which these Services are offered. You are responsible for regularly reviewing these Terms for changes. Your continued use of the Services constitutes your acceptance of all such Terms. If you do not agree with these Terms, please do not use the Services.

1. Disclaimer of Company Responsibility for Blog Content

You understand that all content posted to the Blog (the “Content”) is the sole responsibility of the individual who originally posted the content. You understand, also, that all opinions expressed by users of this site are expressed strictly in their individual capacities, and not as Our representatives or any of Our sponsors or partners. The opinions that you or others post in the Blog do not necessarily reflect Our opinions.

2. Posting

(a) By posting your Content using the Services, you are granting an unrestricted, irrevocable, non-exclusive, royalty-free, perpetual, worldwide, and fully transferable, assignable, and sublicensable right and license to use, copy, reproduce, modify, adapt, publish, translate, create collective or derivative works from, distribute, perform and display your Content in whole or in part and to incorporate it in other works in any form, media, or technology now known or later developed. You further warrant that all so-called moral rights in the content have been waived.

(b) By posting content to the Blog, you warrant and represent that you either own or otherwise control all of the rights to that content, including, without limitation, all the rights necessary for you to provide, post, upload, input or submit the content, or that your use of the content is a protected fair use. You agree that you will not knowingly provide material and misleading false information. You represent and warrant also that the content you supply does not violate these Terms. It is your sole responsibility to ensure that your postings do not disclose confidential and/or proprietary information, including personal financial information, information covered by a nondisclosure agreement, and information that you are not authorized to disclose. We caution you not to disclose personal information about yourself or your children, such as social security numbers, credit card numbers, etc.

(c) You agree to indemnify and hold Us and Our affiliated companies, and their directors, officers and employees, harmless for any and all claims or demands, including reasonable attorney fees, that arise from or otherwise relate to your use of the Blog, any content you supply to the Blog, or your violation of these Terms or the rights of another.

3. Accessing

(a) You agree that We will not be liable, under any circumstances and in any way, for any errors or omissions, loss or damage of any kind incurred as a result of use of any content posted on this site. You agree that you must evaluate and bear all risks associated with the use of any content, including any reliance on the accuracy, completeness, or usefulness of such content. You agree not to collect information about others, including e-mail addresses, or to use information obtained from the Services to send other users unsolicited e-mail of any kind.

(b) The Blog is provided for informational purposes only; we shall not be responsible or liable for the accuracy or availability of any information appearing or available on the Blog.

(c) Blog postings may provide links to other websites on the Internet. We are not responsible or liable for such content and we make no express or implied warranty about the accuracy, copyright compliance, legality, merchantability, or any other aspect of the content of such postings. We are not responsible or liable for any advertising, products, or other materials on or available from such websites or resources. The inclusion of links does not imply endorsement of the Websites by Us or any association with their operators.

(d) We may enable you to establish an account with a username and password to access and use the Services. If so, you are responsible for maintaining the strict confidentiality of your password, and you are responsible for any activity occurring through use of your account and password. You agree to immediately notify us of any unauthorized use of your password or account or any other breach of security and ensure that you exit from your account at the end of each session. We are not responsible or liable for any loss or damage arising from your failure to comply with this provision.

4. Children

Collecting personal information from children under the age of 18 (“minor children”) through the Services or the Blog is prohibited. No Content should be directed toward minor children. Minor children are not eligible to use the site, and we ask that they do not submit any personal information to us.

5. Privacy Policy

Please be sure to read our Privacy Policy, which is available at this website and incorporated herein by reference.

6. Unauthorized Use of Materials

See Website Terms of Use

7. Termination of Access/Removal of Content

We shall have the right in Our sole discretion to terminate your access to and use of the Services and/or remove any of your Content should We consider your statements or conduct to be inaccurate, illegal, obscene, defamatory, threatening, infringing of intellectual property rights, invasive of privacy, injurious, objectionable, or otherwise in violation of these Terms or applicable law.

8. Disclaimer of Warranties

See Website Terms of Use

9. Limitation of Liability

See Website Terms of Use

10. Acceptance and Acknowledgement of Terms

Use of this website constitutes acceptance of these Terms. You acknowledge that you have read and are bound by the Terms, as well as any other usage agreements of Ours, including the Website Terms of Use that may govern your conduct. Thank you for participating in the Blog. Please do not hesitate to contact us at help@yourhomeoptions.org if you have questions.

3 Crucial Steps To Get Your Chase Loan Modification Approved

My desk, while writing a paper

Applying for a loan modification can be frustrating especially if you do not have a clear picture of what to do. So if you are about to seek a Chase loan modification, read the following steps required by the lender and be guided. But remember, simply following these steps are not enough. You must satisfy their eligibility requirements.

Who Will Facilitate Your Chase Loan Modification Application?

You can apply for your loan to be modified yourself, but you may also seek the help of a loan modification company or through a representative of the Federal House Administration. If you opt to have a company process your application for you, you have to prepare to pay their fees. But if you decide to handle your loan modification yourself, the following steps recommended by Chase are essential to help you get underway.

Steps When Applying For Chase Loan Modification

1. Get in touch with the lender through their Loan Modification Department at 866-550-5705. Before you dial these numbers, make sure that you have kept your home loan number handy. Jot down any questions that you want to ask for a smooth phone conversation and so that you do not forget them. This phone conversation could take long and expect the representative to ask about your financial difficulty and may ask you reasons for why you are having a hard time paying for your monthly mortgage dues.

2. Gather the required documents:

Hardship letter explaining your financial circumstances that led to your difficulty in making your monthly mortgage dues.

Signed and accomplished statement summarizing your monthly budget

If you are employed:

2 latest pay stubs

If you are self-employed:

Bank statements of the last 4 months

Latest tax papers

3. Accomplish application form and send application package to Chase. Once you have done the previous actions, expect to receive a Chase loan modification application package. Accomplish the application form, attach the required documents as stated in the package and send them to Chase.

What Does Your Lender Look For In Your Chase Loan Modification Application

Needless to say, Chase would like to see all the documents they require to be in your application. They will study these documents to find out the kind of financial hardship that you are in and if it is permanent. That is why, if they will spot an expense on a luxurious car in the monthly budget you submitted, expect to get a “No”. Also pay particular attention when writing your hardship letter. Cite a job loss, an illness, a divorce, or other circumstances that have made a big unfavorable impact on your finances, making you unable to pay your monthly mortgage dues. Including the rate you would want to be paying in your letter would also be helpful. Work this out based on the planned monthly budget you submitted.

When you have sent the application package, expect to wait for as long as eight weeks before you would hear advice of whether or not your request has been approved.

Preparing a Chase loan modification request is simplified if you know what to do and what are required; and a complete application increases your chances of getting approved.

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Loan Modification Scams Dressed Up As Loan Modification Services

Loan Modification Services

Image by .Andi. via Flickr

Circumspection In Choosing From Among Loan Modification Services

Generally, there are two types of loan modification companies: the legit and the scam. There are also two general types of consumers: the canny and the gullible. How you choose the firm that will help you re-work your loan will mainly tell what type of consumer you are. Get to know how these scams are pulled off by con artists to avoid being double-crossed by loan modification services that are actually scams.

Cracking Scams Cloaked As Loan Modification Services

Pseudo-Foreclosure Consultants. Be wary when dealing with some people who call themselves as foreclosure consultants but are actually charlatans, purveying ostensible services and programs to help financially distressed homeowners avoid foreclosure, but are in reality no more than tricks to bilk you of your limited funds. These snake oil salesmen usually lurk in the Internet waiting for their unsuspecting prey to voluntarily come to them. Homeowners seeking loan modification services are often easy targets. They operate simply by exacting substantial amount from their victims to cover for their services. However, after the agreement has been signed and the payment pocketed, the agency virtually does nothing, or worse suddenly disappears. As a result, you lose your home. Naturally, these swindlers have no plans of reimbursing you if your house gets auctioned. Complaints about these schemes swarm the State Attorney General’s office.

Unaffordable Modification Program. Another way con artists maneuver their tricks is by collecting money from the homeowner upon signing up, then registering the homeowner to a loan modification plan that he cannot afford, even if there is a big possibility that they can negotiate with the lender for a better agreement. These scheming companies make easy money by declaring that their job is done once they have gotten and presented the easiest modification available to the homeowner. Sadly, signing up for an unaffordable plan will not get you anywhere except even farther from your home.

Expensive Loan Modification Seminars Which Can Cost You Your Home. One more variation of the fraud is by plainly exacting exorbitant fees for loan modification seminars where homeowners are required to attend. These seminars are said to help in bargaining for more beneficial loan terms. If you do not attend such events, the scheming company will not do anything to help you save your home, and will even hold you responsible for losing your property.

Loan Audits. Some shady companies will also charge your for loan audits that are conducted by someone who is not even a qualified lawyer. Oftentimes, these audits are done and paid for in vain since the petitions that the homeowners are prompted to obtain are hindered by the expiration of the ruling of limitations for that certain case. You end up paying thousands of dollars just to be informed of what is ineffective in salvaging your home.

Alas, a lot of financially saddled homeowners are beguiled into signing up for these scams due to a lack of knowledge. They are thick on the ground, that is why, the different states are having a hard time in taking legal action and closing down these organizations. Hence, get to know a company offering loan modification services first, before signing up so that you do not add up to the statistics of victims.

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Top 4 Reasons Why Your Citimortgage Loan Modification Request May Be Denied

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Know Your Chances Of Getting A Citimortgage Loan Modification

With the economic slump, paying for mortgage has become a struggle to many homeowners. That is why, a lot of them negotiate with their lenders to restructure their loan. Some get approved, while others are denied. Lenders reject proposals to rework terms due to a number of reasons. If you are considering seeking a Citimortgage loan modification, study these reasons so that you can gauge you chances of getting an approval.

Causes Behind Citimortgage Loan Modification Thumbs Down

Up-To-Date Payments. Paying regularly your monthly mortgage dues gives your lender the impression that you are not experiencing financial hardship. If you are not behind on your payments, chances are, your proposal for a loan adjustment may just get rejected. But do not get it wrong. It may be a bad idea to deliberately default on your payments just to be able to qualify for a Citimortgage loan modification. Doing so will mar your credit standing and risk your house to foreclosure. Refinancing may be a better option for you. With your good credit score, you may be able to avail of lower interest rate from a new loan.

Home Valued Is Greater Than Loan Amount. For your lender, this means that should they foreclose on your house, they can still resell it at a relatively good price. That is why, even if you submit enough documented proof that you lost your job or incurred losses in your business for some time, Citimortgage may decline your proposal.

Incomplete Requirements. A lot of Citimortgage loan modification requests go down the rejection bin because a certain financial document is missing, or you forgot to sign a particular document. So make sure that all the paperwork is there and all dotted lines are inked. Remember to prepare your pay stubs of the last two months, W2/tax return or year-end business statement (if you have a business) of the previous years, and personal bank statements for the last six months.

Unconvincing Hardship Letter. Your hardship letter should contain enough drama to melt hearts. Although lenders may appear unsympathetic, remember that they are human too. Concisely explain in your letter your why you could no longer afford your mortgage dues. State what financial jam led you to default. Also, if your house is in an area where foreclosures are rampant and values of houses are tailing off, highlight that in your letter.

To better your chances of obtaining a Citimortgage loan modification, understand where Citimortgage is coming from. Although they may want to help their mortgagors, the lender’s interest is foremost in their decision of whether or not to approve a request for loan readjustment.

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Warning: Do Not Ignore These Loan Modification Red Flags

Loan Modification Scams

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Tough times call for tough measures. With the bleak economy and the wave of foreclosures, scoundrels will take advantage of people who are desperate or who lack the knowledge on how to handle their situation. Many of these rip-offs make money through loan modification scams. So if you are facing foreclosure, beware of people who offer too good to be true promises. It is a red flag of dishonesty.

You may have seen them on TV, the papers or radio and from the Internet through ads that promise you that they can absolutely rework your loan to make it more affordable. Some may have even discovered some means to get in touch with you and you are considering to take their offer. Before you sign up for anything or pay any upfront fees, consider these eight indicators of loan modification scams.

Loan Modification Scams Demand for Upfront Fees

From this alone, they are already breaking the law since foreclosure consultants and loan modification companies are prohibited from collecting any payments prior to delivery of their services.

Loan Modification Scams Will Ask You to Transfer Ownership of the House to their Firm

Common sense ought to make you think twice or even a hundred times about this request. Why should you agree to transfer the title of the property to them? It is akin to handing over your handbag to a robber without the robber pointing a gun at you. Do not be beguiled by their assurance that you will be able to repurchase or lease it.

Loan Modification Scams Will Advice You to Disregard Letters From Your Lenders

If there is one thing that you should be doing, it is to read the correspondence from lenders, get in touch with them, explain your hardship and try to negotiate for better terms.

Loan Modification Scams Will Ask You to Make Mortgage Payments to Their Company Instead of to Your Lender

Beware, you may find yourself in deeper trouble upon finding out that the payments you have sent to the so-called loan modification company did not make its way to your lenders. So if you are sending payments to your loan modification service provider, make sure that they disburse the payments to your lenders.

Loan Modification Scams Will Pressure You To Ink Documents Even If You Have Not Read Them Yet

When they use this ploy, they make you think that by signing these official documents, it is for your benefit. Unwittingly, you are, in fact, transferring ownership of your property to them. Do not fall victim to this flagrant act.

Loan Modification Scams Will Advice You Not To Take Counsel From An Attorney or Government-Approved Counselors

This is definitely a glaring red flag. What is wrong with consulting a lawyer or other counselors? When they do this, it is obvious that something is fishy. Consulting a lawyer or a government-approved counselor is what you may just need.

Loan Modification Scams Assure You of a Sure-Fire Loan Modification

If you have not yet discussed your situation with them, there is no way for them to determine whether or not you can get a loan modification, they cannot so much as tell whether or not a loan modification is right for you.

Loan modification scams are there for your money and nothing else, so before signing up for a loan modification service provider that you are not so familiar with, consider doing your research first about the company or better yet to learn about the process and try doing the tasks yourself in obtaining a loan modification.

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The Snags In Buying A Short Sale

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The Price For Buying A Short Sale

Several people consider buying a short sale, be it as a primary home or as an investment, to take advantage of the typical rock-bottom pricing. Although you can potentially bring in big savings, a short sale can exact from you, among other things, your time and patience. The home you are eyeing to buy can become the rope in a tug-of-war involving more than two tugging rivals: you (the  buyer), the bank (the lender), the seller (the homeowner) and the other buyers. However, if you still would want to try to purchase a home offered on short sale, stock your medicine cabinet with some aspirin as you may suffer some bouts of headache.

Headaches in Buying A Short Sale

Protracted Process. Short sales are notorious for their proneness to drag out. The lenders play a big role in this waiting game. First, banks must acquiesce in suffering a loss on the property before the process can get underway. Second, there must already be an offer from a prospective buyer submitted to the bank for the short sale to be considered in progress. A single offer is often not enough, banks will bide their time to wait for more enticing offers. If you are the first buyer to name your price, sit back, relax, grab some chips dashed with powdered patience as the lender keeps you in suspense for weeks or months before they can reply to your offer.

Thumbs Down To Your Offer. As the lender takes their sweet time sitting on their hands, more offers to buy the short sale are tendered while the property stays active on real estate and MLS listings. Chances are, the lender will be presented with a higher offer and settle on that one. This means that the weeks or months of waiting do not assure you of a positive reply for your initial offer.

Price War. Buying a short sale is not as easy as many think. It even may not be as cheap as most people expect. Yes, many are sold below market price. However, there are properties that actually sell more than their market value because of price wars as a result of banks waiting for more offers. This pushes the price up, sometimes higher than the market price.

As Is Condition. When buying a short sale, you can inspect the property. However, you have to know that the lender may ask you to ink an As-Is Addendum. When you have signed this, it means that you as the buyer, accept the home in its current state and the lender is free from the liabilities for any damages. So better make your inspection thorough to discover potential problems early on and factor it in when making an offer.

Do not be caught short when buying a short sale; know what to expect so that you can prepare for the drawn-out process, the possibility of a negative reply after months of waiting, and the price war, and be on the lookout for possible damages to the property that become your responsibility once you have bought it.

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How To Clinch A Countrywide Short Sale

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The Automation of Countrywide Short Sale Under Bank of America

If you would like to negotiate a Countrywide short sale, then you will have to file this request with the Bank of America. This is because BoA acquired Countrywide in 2008. You have to know that filing for a short sale with BoA goes through the online Equator system, that is, if your mortgage is not backed by the Federal Housing Adminsitration or Veterans Affairs. This online system is highly automated with the listing agent punching in the necessary information. A more streamlined and expedited process is hoped to be obtained through this system. So what steps must you undertake to start the short sale ball rolling?

Steps In Doing A Countrywide Short Sale

1. Find a realtor and buyer for your house. Having a buyer is a requisite for you to get your Countrywide short sale underway. You can actually find a buyer yourself but it may also be better if you have it catalogued with a realtor since BoA requires that buyers and other parties be represented by real estate agents. Additionally, the Equator system has been designed for real estate agents acting for the homeowners and could be intricate for an ordinary borrower to be working by himself. When looking for a realtor, put much weight on his experience doing Countrywide short sales. Make sure that this experience includes several successes, otherwise you may just be wasting your limited resources on nothing.

2. Furnish your realtor with your necessary financial details so that he can key them into the online system. Include data that can substantiate your financial hardship as these will be used by the mortgage provider to assess that you indeed cannot afford to continue the payments.

3. Inform BoA regarding offers on the house by having your realtor input them into the system.

4. Expect your mortgage provider to have your home appraised or valued by a Broker’s Price Opinion or BPO.

5. Based on the appraisals, the BoA will decide whether to accept the offer of a buyer or make a counteroffer. Once the parties agree on the final price, the bank will send an endorsement for the short sale and the offer can be received to close the transaction.

Filing a Countrywide short sale now goes through the online Equator system since this mortgage provider is now under the Bank of America. Working with a real estate agent may be what’s best for a homeowner, since the system is designed especially for agents.

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Must-Know Short Sale Information

Short Sale Information

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Short sale has been conceived as a less painful alternative to foreclosure. Financially distressed homeowners facing foreclosure are often advised to look to short sale as a better way to lose a home and to protect credit score. In this post, we look at some short vital sale information particularly on how “protective” a short sale is on the homeowner’s credit and what makes it a better way to lose a home.

Shorts Sale Information: You Need To Find A New Home ASAP After Short Sale

They say that a short sale is the preferable way of giving up a home over foreclosure. But have you considered the fact that if you take this route of giving up your home, you need to immediately find a new place to live in once your home has been short sold? Additionally, you have to bear with the inconvenience of allowing potential buyers to view the property or you even have to put up with agents conducting open houses to attract buyers. Whereas in foreclosure, it is possible (depends on which state you are in) for you to stay in your home (with no rent) for four months to a year before they can compel you to abandon your foreclosed home. By saying this, I do not necessarily mean that you go for a foreclosure.

Shorts Sale Information: Effect on Credit Score

Now let’s go to the next reason why a short sale is preferable over the dreaded F: effect on credit rating. Actually, the difference in the credit ramifications of the two on credit record is not gaping. A short sale will often appear on your record as ‘pre-foreclosure in redemption’, ‘settlement’ or ‘settlement for less than owed’. You also have to realize that if your lender allows a short sale, most likely, your credit record already would have reflected a little blemish since you have to be delinquent on your payments for your application for short sale to be approved. You would not want these logs to be in your credit record, but with a short sale, expect a decline in your credit score by 80 to 100 points. But do not worry because they can possibly be taken off your file in a few years or less. You can also possibly negotiate with your lender and ask not to report the short sale to the credit agencies.

In comparison, your FICO score may go down by a whopping 200 to 280 points with a foreclosure. This unfortunate way of losing your house will also be reflected on your credit record for as long as 7 to 10 years. In this aspect, a short sale is definitely the lesser evil.

Short Sale Information: You May Be Obliged To Pay For Deficiency Balance

There is a way to keep your credit rating intact. This is by paying for the deficiency balance left after short selling, the deficit between the mortgage balance and the selling price. However, if you cannot settle this, your credit record may have to brace for another blow as your lender can file a judgment in an effort to collect the full or a portion of the deficit. This will be logged on your record and may possibly pull down your rating even lower. This record will stay on your credit record for seven years. Having this in your file may give you a hard time getting the credit approval of other creditors.

Before going for a short sale, gather all the short sale information you can get to aid you in weighing your options and help you prepare for what to expect.

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The Secret Formula To Writing A Short Sale Hardship Letter

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Like writing a love letter, writing the short sale hardship letter is crucial in wooing your lender to allow you to sell your house as a short sale. Financial statements and pay stubs flatly show how much you make and how much you spend. The hardship letter tells bankers how your financial situation affect you personally. That is why, lenders give this letter weight in their decision in allowing a short sale. If this is so, you may wonder, what must you include in a hardship letter. Here are the things you must consider.

The Recipients of Your Short Sale Hardship Letter

When writing your short sale hardship letter, put yourself in the bankers’ shoes. Although most of you may think that bankers have no emotions, keep in mind that an actual human being will be reading your letter. Show courtesy and appeal to their emotions. Another thing you must remember is that bankers are often swamped with the same letters from other homeowners. Although we encourage you to compellingly and descriptively explain your story, do not write a novel. Your one-page letter should recount reasons, dates and situations explaining your predicament.

What Must You Include in A Short Sale Hardship Letter

Reasons Why You Can No Longer Afford Your Payments. Think about what events have pushed you into this tight spot and led you to default on your payments. Did you go through a divorce, suffer a medical condition, lose a job or did someone die in the family? Be honest and do not make up stories. Specify dates of when the unfortunate event happened and the series of events that led to it including the times when you failed to make payments.

Actions You Took To Handle The Situation. Show your lenders that you made effort in handling the problem. Maybe you sold some things at home or you waited on tables or took an extra job to raise money to pay for mortgage.

Bad Circumstances In Your Neighborhood Affecting The Value Of Your House. Include certain unfortunate events in your specific neighborhood that you may know of, such as a spate of foreclosures in your street, decline in values of properties or increase in taxes in your area.

Permanent Circumstances That Led To Hardship. State in your short sale hardship letter whether or not the difficulties you are facing are permanent. Permanent situations, such as cases of death, divorce or serious illness may bear more weight. Temporary circumstances such as being unemployed can still be improved, hence, short selling your house may not be the best recourse. A loan modification may be recommended.

How a short sale hardship letter is written can make or break your request to short sell your home. Look at it with bankers’ eyes: make it concise but compelling enough to appeal to their emotions.

How To Buy A Short Sale Home

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Buying A Short Sale Home: Is It Worth It?

Want to buy a new home for less? Some home buyers and real estate investors look to buying short sale homes. You can acquire a property for as low as 40 percent of its original worth. These crazy prices make buying a short sale home worth it, that is, if the lender gives the thumbs up.

A short sale can be trying not just to the seller but to you, the buyer, as well. It can turn into a waiting game if the creditor is reluctant in allowing the process and in shouldering the losses. Be prepared to wait for months to complete your purchase. If you are pressed for time though, you can find bargains from foreclosures and some upper-fixers.

How To Get The Lender To Approve A Short Sale Home?

You practically cannot influence the lender to approve a short sale except by offering a considerable bid price. One important reason that the lender will deny a short sale or turn down your offer is if they are not happy with the bids submitted and think that they can make more money by foreclosing on the house. Typically, lenders will request one or more appraisals and may also ask for a Broker’s Price Opinion. A comparative market analysis may be needed to defend the price offer. However, offering too much just to get the lender’s approval could defeat your purpose of buying a short sale: get a great bargain. If you have the wherewithal, find out if the particular lender you are dealing with would put weight to substantial down payments, then offer to pay a considerable amount or even in cash if they are swayed by this.

Although you have no control over the other matters, you should at least know what will make the thumbs of the lender go up so that at least you would have some idea of your chances of buying the short sale home. The mortgage provider must be convinced by the financial difficulty of the seller through the hardship letter. If the lender has funded a number of properties currently in the throes of foreclosure, a short sale may be approved to reduce the number of foreclosures. The lender will also check the Disbursement Estimate to check if the seller has received money.

5 Steps In Buying A Short Sale Home

1. Research before you submit an offer to purchase. To guide you in coming up with an appropriate price, ask questions such as: who is in title; how much is the mortgage balance; has a foreclosure notice been file already. It is also important that you know if there is a second mortgage as this can also affect whether a short sale can proceed. Ask also if you can reserve the right to inspection. Most short sale homes are sold on an as-is basis, which means that you are not protected. Protect yourself by checking out the property.

2. Hire a competent real estate agent with solid experience in short sales. Your agent can help you with the research above and in contacting and coordinating with the lender.

3.Get in touch with the loss mitigation department of the mortgage provider and furnish and Authorization Release Information form signed by the seller. You will know about your chances of buying the property from this department so take note of names and numbers to make your follow up.

4. Submit your offer, the required documentation and a copy of your earnest money deposit. If you qualified for a pre approved loan, also submit a proof of this.

5. Wait. In the first few months after you proffered your bid, expect that even if you made the highest bid, the bank may not consent a short sale. They would buy time waiting for a higher offer. This delaying tactic is what stretches the short sale process to take several months or even over a year.

Buying a short sale home can be profitable to real estate investors and budget-friendly to home buyers; however, the strung-out process can discourage would-be buyers to pursue the purchase.

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9 Critical Reasons Why You Must Avoid Short Sale Homes

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Are you one of those people scouting for listings of short sale homes, hoping to buy property at a bargain price, either for personal use or as an investment? Although some people may have been lucky to chance on some great steals, there are a number of reasons why you must avoid short sale homes.

1. Sellers of Short Sale Homes Borrowed More Than They Should Have

During periods when the market was escalating, many lenders were motivated to lend money to the extent of lending borrowers more than the real value of the home. Subjective appraisals did not help to prevent this. There were some banks that allegedly, pushed appraisers to give an appraisal equivalent to the amount that the homeowners want to borrow.

2. Seller Bought Expensively

Many short sale homes, before they got under water, were originally bought at a time that the market was leaping, hence, the homeowners bought them at relatively expensive prices. However, now that the market has taken a nosedive, the homeowners no longer have equity. So when you buy a short sale, it does not really mean that you are enjoying a great discount that really is not there. For example, if the short sale home you are considering to buy was originally acquired some years ago by the homeowner for $300,000, and now it is offered at $200,000. Do not think that you are luckily fetching $100,000 of equity at no cost.

3. Short Sale Homes That Are Ineligible

Beware of homes listed as short sales even if homeowners have not discussed short selling with their lenders yet or have not yet gone through pre-qualifying assessment yet. Some unprofessional real estate agents urge homeowners to contemplate on short selling their house even if the seller is not qualified.

4. A Waiting Game

Processing short sales could take between two weeks to several months before you can close the transaction. Some factors that contribute to the sluggish process include incomplete paperwork submitted by the seller and the logjam of foreclosures faced by the lender. Additionally, lenders also take their sweet time waiting for higher bids if they do not like the current prices being offered. If there are two loans secured to the property, then you will be dealing with two lenders and the process may just protract because you need to satisfy two sets of demands.

5. Not All Short Sale Homes Sell At A Discount

As previously mentioned, lenders often take their time approving a short sale because they are waiting for higher offers. They will budge only when offers are at par with comparative prices in the market. The lender would prefer to foreclose on a house if he thinks that he can get a better price there than in short sale, so he delays approving a short sale request, waiting for a higher offer. In effect, short sale homes are sold at market value or at least close to market value.

6. “As Is” Selling Condition

If you buy short sale homes, typically, you are to buy them at their present condition. Banks will most likely not pay for your home protection plan, roof repairs or roof certifications, proposed repairs reported on a home inspection, pest inspections or work needed to furnish a clear pest report, and deferred maintenance.

7. Changing Conditions of Lenders

Do you have lawyers at your disposal? Watch out for lenders who reserve the right to change the conditions of the short sale at the last minute. There are lenders who do this depending on shifts in the market, enactment of new laws or some new information gathered. Lenders can make this renegotiation at their whim because they have lawyers at their disposal.

8. Steep Closing Costs for Buyers

Most lenders do not pay for any additional costs. In some cases, they even will not pay for transfer taxes and other customary seller closing costs. You will have to pay for any extras you want, such as if you would like to conduct particular inspections.

9. Lender Often Controls The Transaction

The lender of the seller is in control in a short sale. The closing process in a short sale can last for an unknown length of time. This disables you from being able to target a specific date to close escrow.

At first glance, buying short sale homes may be a great way to acquire great deals; but knowing the nitty-gritty of the transaction may turn buyers’ feet cold.

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3 Crucial Steps To Get Your Chase Loan Modification Approved

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Applying for a loan modification can be frustrating especially if you do not have a clear picture of what to do. So if you are about to seek a Chase loan modification, read the following steps required by the lender and be guided. But remember, simply following these steps are not enough. You must satisfy their eligibility requirements.

Who Will Facilitate Your Chase Loan Modification Application?

You can apply for your loan to be modified yourself, but you may also seek the help of a loan modification company or through a representative of the Federal House Administration. If you opt to have a company process your application for you, you have to prepare to pay their fees. But if you decide to handle your loan modification yourself, the following steps recommended by Chase are essential to help you get underway.

Steps When Applying For Chase Loan Modification

1. Get in touch with the lender through their Loan Modification Department at 866-550-5705. Before you dial these numbers, make sure that you have kept your home loan number handy. Jot down any questions that you want to ask for a smooth phone conversation and so that you do not forget them. This phone conversation could take long and expect the representative to ask about your financial difficulty and may ask you reasons for why you are having a hard time paying for your monthly mortgage dues.

2. Gather the required documents:

Hardship letter explaining your financial circumstances that led to your difficulty in making your monthly mortgage dues.

Signed and accomplished statement summarizing your monthly budget

If you are employed:

2 latest pay stubs

If you are self-employed:

Bank statements of the last 4 months

Latest tax papers

3. Accomplish application form and send application package to Chase. Once you have done the previous actions, expect to receive a Chase loan modification application package. Accomplish the application form, attach the required documents as stated in the package and send them to Chase.

What Does Your Lender Look For In Your Chase Loan Modification Application

Needless to say, Chase would like to see all the documents they require to be in your application. They will study these documents to find out the kind of financial hardship that you are in and if it is permanent. That is why, if they will spot an expense on a luxurious car in the monthly budget you submitted, expect to get a “No”. Also pay particular attention when writing your hardship letter. Cite a job loss, an illness, a divorce, or other circumstances that have made a big unfavorable impact on your finances, making you unable to pay your monthly mortgage dues. Including the rate you would want to be paying in your letter would also be helpful. Work this out based on the planned monthly budget you submitted.

When you have sent the application package, expect to wait for as long as eight weeks before you would hear advice of whether or not your request has been approved.

Preparing a Chase loan modification request is simplified if you know what to do and what are required; and a complete application increases your chances of getting approved.

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Loan Modification Scams Dressed Up As Loan Modification Services

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Circumspection In Choosing From Among Loan Modification Services

Generally, there are two types of loan modification companies: the legit and the scam. There are also two general types of consumers: the canny and the gullible. How you choose the firm that will help you re-work your loan will mainly tell what type of consumer you are. Get to know how these scams are pulled off by con artists to avoid being double-crossed by loan modification services that are actually scams.

Cracking Scams Cloaked As Loan Modification Services

Pseudo-Foreclosure Consultants. Be wary when dealing with some people who call themselves as foreclosure consultants but are actually charlatans, purveying ostensible services and programs to help financially distressed homeowners avoid foreclosure, but are in reality no more than tricks to bilk you of your limited funds. These snake oil salesmen usually lurk in the Internet waiting for their unsuspecting prey to voluntarily come to them. Homeowners seeking loan modification services are often easy targets. They operate simply by exacting substantial amount from their victims to cover for their services. However, after the agreement has been signed and the payment pocketed, the agency virtually does nothing, or worse suddenly disappears. As a result, you lose your home. Naturally, these swindlers have no plans of reimbursing you if your house gets auctioned. Complaints about these schemes swarm the State Attorney General’s office.

Unaffordable Modification Program. Another way con artists maneuver their tricks is by collecting money from the homeowner upon signing up, then registering the homeowner to a loan modification plan that he cannot afford, even if there is a big possibility that they can negotiate with the lender for a better agreement. These scheming companies make easy money by declaring that their job is done once they have gotten and presented the easiest modification available to the homeowner. Sadly, signing up for an unaffordable plan will not get you anywhere except even farther from your home.

Expensive Loan Modification Seminars Which Can Cost You Your Home. One more variation of the fraud is by plainly exacting exorbitant fees for loan modification seminars where homeowners are required to attend. These seminars are said to help in bargaining for more beneficial loan terms. If you do not attend such events, the scheming company will not do anything to help you save your home, and will even hold you responsible for losing your property.

Loan Audits. Some shady companies will also charge your for loan audits that are conducted by someone who is not even a qualified lawyer. Oftentimes, these audits are done and paid for in vain since the petitions that the homeowners are prompted to obtain are hindered by the expiration of the ruling of limitations for that certain case. You end up paying thousands of dollars just to be informed of what is ineffective in salvaging your home.

Alas, a lot of financially saddled homeowners are beguiled into signing up for these scams due to a lack of knowledge. They are thick on the ground, that is why, the different states are having a hard time in taking legal action and closing down these organizations. Hence, get to know a company offering loan modification services first, before signing up so that you do not add up to the statistics of victims.

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Top 4 Reasons Why Your Citimortgage Loan Modification Request May Be Denied

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Know Your Chances Of Getting A Citimortgage Loan Modification

With the economic slump, paying for mortgage has become a struggle to many homeowners. That is why, a lot of them negotiate with their lenders to restructure their loan. Some get approved, while others are denied. Lenders reject proposals to rework terms due to a number of reasons. If you are considering seeking a Citimortgage loan modification, study these reasons so that you can gauge you chances of getting an approval.

Causes Behind Citimortgage Loan Modification Thumbs Down

Up-To-Date Payments. Paying regularly your monthly mortgage dues gives your lender the impression that you are not experiencing financial hardship. If you are not behind on your payments, chances are, your proposal for a loan adjustment may just get rejected. But do not get it wrong. It may be a bad idea to deliberately default on your payments just to be able to qualify for a Citimortgage loan modification. Doing so will mar your credit standing and risk your house to foreclosure. Refinancing may be a better option for you. With your good credit score, you may be able to avail of lower interest rate from a new loan.

Home Valued Is Greater Than Loan Amount. For your lender, this means that should they foreclose on your house, they can still resell it at a relatively good price. That is why, even if you submit enough documented proof that you lost your job or incurred losses in your business for some time, Citimortgage may decline your proposal.

Incomplete Requirements. A lot of Citimortgage loan modification requests go down the rejection bin because a certain financial document is missing, or you forgot to sign a particular document. So make sure that all the paperwork is there and all dotted lines are inked. Remember to prepare your pay stubs of the last two months, W2/tax return or year-end business statement (if you have a business) of the previous years, and personal bank statements for the last six months.

Unconvincing Hardship Letter. Your hardship letter should contain enough drama to melt hearts. Although lenders may appear unsympathetic, remember that they are human too. Concisely explain in your letter your why you could no longer afford your mortgage dues. State what financial jam led you to default. Also, if your house is in an area where foreclosures are rampant and values of houses are tailing off, highlight that in your letter.

To better your chances of obtaining a Citimortgage loan modification, understand where Citimortgage is coming from. Although they may want to help their mortgagors, the lender’s interest is foremost in their decision of whether or not to approve a request for loan readjustment.

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Warning: Do Not Ignore These Loan Modification Red Flags

Loan Modification Scams

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Tough times call for tough measures. With the bleak economy and the wave of foreclosures, scoundrels will take advantage of people who are desperate or who lack the knowledge on how to handle their situation. Many of these rip-offs make money through loan modification scams. So if you are facing foreclosure, beware of people who offer too good to be true promises. It is a red flag of dishonesty.

You may have seen them on TV, the papers or radio and from the Internet through ads that promise you that they can absolutely rework your loan to make it more affordable. Some may have even discovered some means to get in touch with you and you are considering to take their offer. Before you sign up for anything or pay any upfront fees, consider these eight indicators of loan modification scams.

Loan Modification Scams Demand for Upfront Fees

From this alone, they are already breaking the law since foreclosure consultants and loan modification companies are prohibited from collecting any payments prior to delivery of their services.

Loan Modification Scams Will Ask You to Transfer Ownership of the House to their Firm

Common sense ought to make you think twice or even a hundred times about this request. Why should you agree to transfer the title of the property to them? It is akin to handing over your handbag to a robber without the robber pointing a gun at you. Do not be beguiled by their assurance that you will be able to repurchase or lease it.

Loan Modification Scams Will Advice You to Disregard Letters From Your Lenders

If there is one thing that you should be doing, it is to read the correspondence from lenders, get in touch with them, explain your hardship and try to negotiate for better terms.

Loan Modification Scams Will Ask You to Make Mortgage Payments to Their Company Instead of to Your Lender

Beware, you may find yourself in deeper trouble upon finding out that the payments you have sent to the so-called loan modification company did not make its way to your lenders. So if you are sending payments to your loan modification service provider, make sure that they disburse the payments to your lenders.

Loan Modification Scams Will Pressure You To Ink Documents Even If You Have Not Read Them Yet

When they use this ploy, they make you think that by signing these official documents, it is for your benefit. Unwittingly, you are, in fact, transferring ownership of your property to them. Do not fall victim to this flagrant act.

Loan Modification Scams Will Advice You Not To Take Counsel From An Attorney or Government-Approved Counselors

This is definitely a glaring red flag. What is wrong with consulting a lawyer or other counselors? When they do this, it is obvious that something is fishy. Consulting a lawyer or a government-approved counselor is what you may just need.

Loan Modification Scams Assure You of a Sure-Fire Loan Modification

If you have not yet discussed your situation with them, there is no way for them to determine whether or not you can get a loan modification, they cannot so much as tell whether or not a loan modification is right for you.

Loan modification scams are there for your money and nothing else, so before signing up for a loan modification service provider that you are not so familiar with, consider doing your research first about the company or better yet to learn about the process and try doing the tasks yourself in obtaining a loan modification.

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The Snags In Buying A Short Sale

Semi-detached houses in Croydon for sale

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The Price For Buying A Short Sale

Several people consider buying a short sale, be it as a primary home or as an investment, to take advantage of the typical rock-bottom pricing. Although you can potentially bring in big savings, a short sale can exact from you, among other things, your time and patience. The home you are eyeing to buy can become the rope in a tug-of-war involving more than two tugging rivals: you (the  buyer), the bank (the lender), the seller (the homeowner) and the other buyers. However, if you still would want to try to purchase a home offered on short sale, stock your medicine cabinet with some aspirin as you may suffer some bouts of headache.

Headaches in Buying A Short Sale

Protracted Process. Short sales are notorious for their proneness to drag out. The lenders play a big role in this waiting game. First, banks must acquiesce in suffering a loss on the property before the process can get underway. Second, there must already be an offer from a prospective buyer submitted to the bank for the short sale to be considered in progress. A single offer is often not enough, banks will bide their time to wait for more enticing offers. If you are the first buyer to name your price, sit back, relax, grab some chips dashed with powdered patience as the lender keeps you in suspense for weeks or months before they can reply to your offer.

Thumbs Down To Your Offer. As the lender takes their sweet time sitting on their hands, more offers to buy the short sale are tendered while the property stays active on real estate and MLS listings. Chances are, the lender will be presented with a higher offer and settle on that one. This means that the weeks or months of waiting do not assure you of a positive reply for your initial offer.

Price War. Buying a short sale is not as easy as many think. It even may not be as cheap as most people expect. Yes, many are sold below market price. However, there are properties that actually sell more than their market value because of price wars as a result of banks waiting for more offers. This pushes the price up, sometimes higher than the market price.

As Is Condition. When buying a short sale, you can inspect the property. However, you have to know that the lender may ask you to ink an As-Is Addendum. When you have signed this, it means that you as the buyer, accept the home in its current state and the lender is free from the liabilities for any damages. So better make your inspection thorough to discover potential problems early on and factor it in when making an offer.

Do not be caught short when buying a short sale; know what to expect so that you can prepare for the drawn-out process, the possibility of a negative reply after months of waiting, and the price war, and be on the lookout for possible damages to the property that become your responsibility once you have bought it.

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How To Clinch A Countrywide Short Sale

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The Automation of Countrywide Short Sale Under Bank of America

If you would like to negotiate a Countrywide short sale, then you will have to file this request with the Bank of America. This is because BoA acquired Countrywide in 2008. You have to know that filing for a short sale with BoA goes through the online Equator system, that is, if your mortgage is not backed by the Federal Housing Adminsitration or Veterans Affairs. This online system is highly automated with the listing agent punching in the necessary information. A more streamlined and expedited process is hoped to be obtained through this system. So what steps must you undertake to start the short sale ball rolling?

Steps In Doing A Countrywide Short Sale

1. Find a realtor and buyer for your house. Having a buyer is a requisite for you to get your Countrywide short sale underway. You can actually find a buyer yourself but it may also be better if you have it catalogued with a realtor since BoA requires that buyers and other parties be represented by real estate agents. Additionally, the Equator system has been designed for real estate agents acting for the homeowners and could be intricate for an ordinary borrower to be working by himself. When looking for a realtor, put much weight on his experience doing Countrywide short sales. Make sure that this experience includes several successes, otherwise you may just be wasting your limited resources on nothing.

2. Furnish your realtor with your necessary financial details so that he can key them into the online system. Include data that can substantiate your financial hardship as these will be used by the mortgage provider to assess that you indeed cannot afford to continue the payments.

3. Inform BoA regarding offers on the house by having your realtor input them into the system.

4. Expect your mortgage provider to have your home appraised or valued by a Broker’s Price Opinion or BPO.

5. Based on the appraisals, the BoA will decide whether to accept the offer of a buyer or make a counteroffer. Once the parties agree on the final price, the bank will send an endorsement for the short sale and the offer can be received to close the transaction.

Filing a Countrywide short sale now goes through the online Equator system since this mortgage provider is now under the Bank of America. Working with a real estate agent may be what’s best for a homeowner, since the system is designed especially for agents.

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Must-Know Short Sale Information

Short Sale Information

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Short sale has been conceived as a less painful alternative to foreclosure. Financially distressed homeowners facing foreclosure are often advised to look to short sale as a better way to lose a home and to protect credit score. In this post, we look at some short vital sale information particularly on how “protective” a short sale is on the homeowner’s credit and what makes it a better way to lose a home.

Shorts Sale Information: You Need To Find A New Home ASAP After Short Sale

They say that a short sale is the preferable way of giving up a home over foreclosure. But have you considered the fact that if you take this route of giving up your home, you need to immediately find a new place to live in once your home has been short sold? Additionally, you have to bear with the inconvenience of allowing potential buyers to view the property or you even have to put up with agents conducting open houses to attract buyers. Whereas in foreclosure, it is possible (depends on which state you are in) for you to stay in your home (with no rent) for four months to a year before they can compel you to abandon your foreclosed home. By saying this, I do not necessarily mean that you go for a foreclosure.

Shorts Sale Information: Effect on Credit Score

Now let’s go to the next reason why a short sale is preferable over the dreaded F: effect on credit rating. Actually, the difference in the credit ramifications of the two on credit record is not gaping. A short sale will often appear on your record as ‘pre-foreclosure in redemption’, ‘settlement’ or ‘settlement for less than owed’. You also have to realize that if your lender allows a short sale, most likely, your credit record already would have reflected a little blemish since you have to be delinquent on your payments for your application for short sale to be approved. You would not want these logs to be in your credit record, but with a short sale, expect a decline in your credit score by 80 to 100 points. But do not worry because they can possibly be taken off your file in a few years or less. You can also possibly negotiate with your lender and ask not to report the short sale to the credit agencies.

In comparison, your FICO score may go down by a whopping 200 to 280 points with a foreclosure. This unfortunate way of losing your house will also be reflected on your credit record for as long as 7 to 10 years. In this aspect, a short sale is definitely the lesser evil.

Short Sale Information: You May Be Obliged To Pay For Deficiency Balance

There is a way to keep your credit rating intact. This is by paying for the deficiency balance left after short selling, the deficit between the mortgage balance and the selling price. However, if you cannot settle this, your credit record may have to brace for another blow as your lender can file a judgment in an effort to collect the full or a portion of the deficit. This will be logged on your record and may possibly pull down your rating even lower. This record will stay on your credit record for seven years. Having this in your file may give you a hard time getting the credit approval of other creditors.

Before going for a short sale, gather all the short sale information you can get to aid you in weighing your options and help you prepare for what to expect.

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The Secret Formula To Writing A Short Sale Hardship Letter

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Like writing a love letter, writing the short sale hardship letter is crucial in wooing your lender to allow you to sell your house as a short sale. Financial statements and pay stubs flatly show how much you make and how much you spend. The hardship letter tells bankers how your financial situation affect you personally. That is why, lenders give this letter weight in their decision in allowing a short sale. If this is so, you may wonder, what must you include in a hardship letter. Here are the things you must consider.

The Recipients of Your Short Sale Hardship Letter

When writing your short sale hardship letter, put yourself in the bankers’ shoes. Although most of you may think that bankers have no emotions, keep in mind that an actual human being will be reading your letter. Show courtesy and appeal to their emotions. Another thing you must remember is that bankers are often swamped with the same letters from other homeowners. Although we encourage you to compellingly and descriptively explain your story, do not write a novel. Your one-page letter should recount reasons, dates and situations explaining your predicament.

What Must You Include in A Short Sale Hardship Letter

Reasons Why You Can No Longer Afford Your Payments. Think about what events have pushed you into this tight spot and led you to default on your payments. Did you go through a divorce, suffer a medical condition, lose a job or did someone die in the family? Be honest and do not make up stories. Specify dates of when the unfortunate event happened and the series of events that led to it including the times when you failed to make payments.

Actions You Took To Handle The Situation. Show your lenders that you made effort in handling the problem. Maybe you sold some things at home or you waited on tables or took an extra job to raise money to pay for mortgage.

Bad Circumstances In Your Neighborhood Affecting The Value Of Your House. Include certain unfortunate events in your specific neighborhood that you may know of, such as a spate of foreclosures in your street, decline in values of properties or increase in taxes in your area.

Permanent Circumstances That Led To Hardship. State in your short sale hardship letter whether or not the difficulties you are facing are permanent. Permanent situations, such as cases of death, divorce or serious illness may bear more weight. Temporary circumstances such as being unemployed can still be improved, hence, short selling your house may not be the best recourse. A loan modification may be recommended.

How a short sale hardship letter is written can make or break your request to short sell your home. Look at it with bankers’ eyes: make it concise but compelling enough to appeal to their emotions.

How To Buy A Short Sale Home

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Buying A Short Sale Home: Is It Worth It?

Want to buy a new home for less? Some home buyers and real estate investors look to buying short sale homes. You can acquire a property for as low as 40 percent of its original worth. These crazy prices make buying a short sale home worth it, that is, if the lender gives the thumbs up.

A short sale can be trying not just to the seller but to you, the buyer, as well. It can turn into a waiting game if the creditor is reluctant in allowing the process and in shouldering the losses. Be prepared to wait for months to complete your purchase. If you are pressed for time though, you can find bargains from foreclosures and some upper-fixers.

How To Get The Lender To Approve A Short Sale Home?

You practically cannot influence the lender to approve a short sale except by offering a considerable bid price. One important reason that the lender will deny a short sale or turn down your offer is if they are not happy with the bids submitted and think that they can make more money by foreclosing on the house. Typically, lenders will request one or more appraisals and may also ask for a Broker’s Price Opinion. A comparative market analysis may be needed to defend the price offer. However, offering too much just to get the lender’s approval could defeat your purpose of buying a short sale: get a great bargain. If you have the wherewithal, find out if the particular lender you are dealing with would put weight to substantial down payments, then offer to pay a considerable amount or even in cash if they are swayed by this.

Although you have no control over the other matters, you should at least know what will make the thumbs of the lender go up so that at least you would have some idea of your chances of buying the short sale home. The mortgage provider must be convinced by the financial difficulty of the seller through the hardship letter. If the lender has funded a number of properties currently in the throes of foreclosure, a short sale may be approved to reduce the number of foreclosures. The lender will also check the Disbursement Estimate to check if the seller has received money.

5 Steps In Buying A Short Sale Home

1. Research before you submit an offer to purchase. To guide you in coming up with an appropriate price, ask questions such as: who is in title; how much is the mortgage balance; has a foreclosure notice been file already. It is also important that you know if there is a second mortgage as this can also affect whether a short sale can proceed. Ask also if you can reserve the right to inspection. Most short sale homes are sold on an as-is basis, which means that you are not protected. Protect yourself by checking out the property.

2. Hire a competent real estate agent with solid experience in short sales. Your agent can help you with the research above and in contacting and coordinating with the lender.

3.Get in touch with the loss mitigation department of the mortgage provider and furnish and Authorization Release Information form signed by the seller. You will know about your chances of buying the property from this department so take note of names and numbers to make your follow up.

4. Submit your offer, the required documentation and a copy of your earnest money deposit. If you qualified for a pre approved loan, also submit a proof of this.

5. Wait. In the first few months after you proffered your bid, expect that even if you made the highest bid, the bank may not consent a short sale. They would buy time waiting for a higher offer. This delaying tactic is what stretches the short sale process to take several months or even over a year.

Buying a short sale home can be profitable to real estate investors and budget-friendly to home buyers; however, the strung-out process can discourage would-be buyers to pursue the purchase.

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9 Critical Reasons Why You Must Avoid Short Sale Homes

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Are you one of those people scouting for listings of short sale homes, hoping to buy property at a bargain price, either for personal use or as an investment? Although some people may have been lucky to chance on some great steals, there are a number of reasons why you must avoid short sale homes.

1. Sellers of Short Sale Homes Borrowed More Than They Should Have

During periods when the market was escalating, many lenders were motivated to lend money to the extent of lending borrowers more than the real value of the home. Subjective appraisals did not help to prevent this. There were some banks that allegedly, pushed appraisers to give an appraisal equivalent to the amount that the homeowners want to borrow.

2. Seller Bought Expensively

Many short sale homes, before they got under water, were originally bought at a time that the market was leaping, hence, the homeowners bought them at relatively expensive prices. However, now that the market has taken a nosedive, the homeowners no longer have equity. So when you buy a short sale, it does not really mean that you are enjoying a great discount that really is not there. For example, if the short sale home you are considering to buy was originally acquired some years ago by the homeowner for $300,000, and now it is offered at $200,000. Do not think that you are luckily fetching $100,000 of equity at no cost.

3. Short Sale Homes That Are Ineligible

Beware of homes listed as short sales even if homeowners have not discussed short selling with their lenders yet or have not yet gone through pre-qualifying assessment yet. Some unprofessional real estate agents urge homeowners to contemplate on short selling their house even if the seller is not qualified.

4. A Waiting Game

Processing short sales could take between two weeks to several months before you can close the transaction. Some factors that contribute to the sluggish process include incomplete paperwork submitted by the seller and the logjam of foreclosures faced by the lender. Additionally, lenders also take their sweet time waiting for higher bids if they do not like the current prices being offered. If there are two loans secured to the property, then you will be dealing with two lenders and the process may just protract because you need to satisfy two sets of demands.

5. Not All Short Sale Homes Sell At A Discount

As previously mentioned, lenders often take their time approving a short sale because they are waiting for higher offers. They will budge only when offers are at par with comparative prices in the market. The lender would prefer to foreclose on a house if he thinks that he can get a better price there than in short sale, so he delays approving a short sale request, waiting for a higher offer. In effect, short sale homes are sold at market value or at least close to market value.

6. “As Is” Selling Condition

If you buy short sale homes, typically, you are to buy them at their present condition. Banks will most likely not pay for your home protection plan, roof repairs or roof certifications, proposed repairs reported on a home inspection, pest inspections or work needed to furnish a clear pest report, and deferred maintenance.

7. Changing Conditions of Lenders

Do you have lawyers at your disposal? Watch out for lenders who reserve the right to change the conditions of the short sale at the last minute. There are lenders who do this depending on shifts in the market, enactment of new laws or some new information gathered. Lenders can make this renegotiation at their whim because they have lawyers at their disposal.

8. Steep Closing Costs for Buyers

Most lenders do not pay for any additional costs. In some cases, they even will not pay for transfer taxes and other customary seller closing costs. You will have to pay for any extras you want, such as if you would like to conduct particular inspections.

9. Lender Often Controls The Transaction

The lender of the seller is in control in a short sale. The closing process in a short sale can last for an unknown length of time. This disables you from being able to target a specific date to close escrow.

At first glance, buying short sale homes may be a great way to acquire great deals; but knowing the nitty-gritty of the transaction may turn buyers’ feet cold.

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