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Handwritten Letter To Buy Your House?

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Have you gotten a Handwritten Letter To Buy Your House?

If you are a home owner and you live in an area that is severely distressed or perhaps have started to miss payments.  Chances are pretty good that you will get a letter similar to the one in the above video.    As the slime ball marketing scheme goes (you have to watch the webinar for around $500 bucks) your handwritten letter will cause the unsuspecting home owner to open it.   Home owners often lose their home in these scams, but almost as sad is the people who pay the money for this scheme think they will get rich off short sales.
The plan is pretty simple, short sales are tough and people are scared.  The investor can make untold millions by sticking it to the bank one home at a time, meanwhile they look like a hero for your home as well.  Since most of these “investors” are more than likely desperate as well (disclaimer: they very well could just be using the technique though) the person selling this type of advertising usually has financing, negotiation and everything set up.  It’s actually a great idea in theory.  The only problem is that the closing ratio is less than 50% and they usually can’t ask the question, “What happens if the bank does not agree to your offer?”
It all works because the would be investor has your attention, after all they are claiming to be a legitimate buyer.  It also works because if you are a short sale candidate, likely you are scared and who would want to offend this buyer.  Here’s some tips to avoid being taken advantage of:
  1. Real Offers show proof of being able to close
  2. Real offers have earnest money
  3. Real offer usually have a contract
  4. Professionals would not hand write a letter.  Even Matt Cutts from Google got one of these letter.

Disclaimer:  There could be real estate agents or investors utilizing this technique that are completely legitimate.  Our policy is that if it’s a tactic that’s used to deceive people we just want to stay away.

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Can I Buy My Home Back After A Short Sale?

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Can I Buy My Home Back After A Short Sale?

Previously I would have told you “No way!”  I would have lamented about how the bank will gladly sell your home to someone else but they do not want you anywhere near the home any longer.  However, there is a new program being offered through utilizing NSP funds (Neigbhorhood Stabilization Program) that has one company buying home owners homes through a short sale and giving them an opportunity to buy the home back within 4 years.   There’s a lot of programs that claim that to do this and many of them are illegal, so here’s how you can do your due diligence.

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Who are the Real Short Sale Experts?

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Key Questions to determine if you’re dealing with a True Short Sale Expert

If you are in the unfortunate majority of home sellers who are upside down on your home and needing to move, it can be a stressful situation.  Add to this the complexity of choosing someone to help you.  You have supposed short sale attorneys, loan modifications, forensic auditors and more knocking on your door to assist you.   On top of that you need to sell your home and of course that means you need a Realtor. 

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Loan Modification Specialists?

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Loan Modification Specialists?

Anyone that has been worried about their mortgage at one time or another these days has likely thought about a loan modification.  With all the “specialists” and “help” out there it’s tough to know who to trust.

The definition of a loan modification as per HUD is:

A Loan Modification is a permanent change in one or more of the terms of a mortgagor’s loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford.

There’s some key questions that you might want to ask your supposed helper.

  1. Who does the actual loan modification work? – Since the work is and can be done by the homeowner, why & who is doing this work?  – If the person who is “helping” isn’t the one doing the work, you might want to get details on their “staff.”  Other questions off this line – is this person an owner of the company, an employee or are they an “independent contract” who is in a MLM company?
  2. How many successful Loan Modifications have they done – the individual person, not the company as a whole?  Do they have references?
  3. Is this their full time job?
  4. How much does it cost and what’s included?


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