Short Sales MN: I thought a Forensic Loan Audit would work, but it didn’t?
You must have heard about forensic loan audits? I’ve heard people say how wonderful they are. “Your lender will approve your short sale right away”, claims one.
“Your lender is more likely to give you a loan modification after you discover they broke the law. Most lenders broke the law during the crazy lending period we experienced recently”, claims another.
A real estate agent told me this story about forensic loan audits. She worked with a woman who tried to short sales 2 homes. She knew they were short sales and was glad to list the homes for sale.
There was a guy involved who was supposed to be doing all the “negotiating” with the seller’s lender. Little did this agent know this guy was trying to flip the houses? This guy had a forensic loan audit done.
He claims he paid foreclosure defense lawyers out of his own pocket. He did all this stuff in an attempt to force the lender to approve the short sale.
The only problem was the lender didn’t care. The short sale negotiators for the seller’s lender were not going to approve these short sale offers so this guy could resell the home for a profit.
“We know this guy is trying to flip the house. We won’t approve the short sale as long as he is doing that”, they said.
This was despite the claims some have made that forensic loan audits will have lenders tripping over themselves to approve a short sale.
Please consider this story before you spend $800 to $1,000 on a “Forensic Loan Audit.” I am in the business and talk to homeowners facing foreclosure every day.
I have only heard a few stories where a “forensic loan audit” made a difference to the lender. I’m not saying they don’t work. I just want to warn you to check them out before spending big bucks for one.
Considering a short sale? I can help short sale your property and never pay the bank another penny. Send me an e-mail at TimMurphy@MetropolitanHomeTeam.com. I will contact you for a Free No Cost, No Obligation Consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (952) 223-0999
Discover how other sellers successfully completed a short sale and request a FREE consultation Click Here
Thanks for reading this, Tim Murphy.
Tim is a local Minnesota real estate agent @ Re/Max Results.
Phone: (952) 223-0999.
P.S. Please feel free to call or e-mail me at anytime for a FREE No Cost, No Obligation Consultation. My goal is to help as many families as I can in 2011.
Get the tools you need for a successful loan modification by clicking here.
Discover how other sellers successfully did a short sale and request a free consultation by clicking here.
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Tim Murphy, MN & WI Licensed Realtor
Metropolitan Home Team
RE/MAX RESULTS
Phone: 952.223.0999
Important Notice
Tim Murphy and Metropolitan Home Team are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a Minnesota loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Since we know avoiding foreclosure is so important to any homeowner, we recommend you speak with the appropriate legal or tax advisor before making any decisions.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us a fee. We normally make a real estate sales commission for helping you complete a successful short sale.
Copyright 2011 Murphy Inc. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Tim Murphy’s personal views and do not reflect the views of Metropolitan Home Team.
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