Conroe – It always amazes me how some people will do anything to have perfect credit. They would rather go hungry than risk harming their prefect credit rating.

A good example is a guy I will call Seth. Seth has perfect credit. He has worked to keep perfect credit for the last 12 years.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Seth has a several credit cards with high balances. He ran the balances up when the economy was strong.

Today, he can barely afford to make the minimum monthly payments. However, Seth was recently turned for a car loan, despite his perfect credit. Why did that happen?

I thought that perfect credit guaranteed that you could get a loan! Well, it turns out that Seth has too much debt.

Most banks won’t lender to someone with a high Debt to Income Ratio (DTI.)They calculate that number by adding up all the bills that you pay each month.

They use these ratios to determine if you have enough money to pay them each month. Seth can barely afford to pay the minimum monthly payments on his credit card debt.

If he pays them, then he can’t afford a car payment. His family needs a car more than they need perfect credit.

In my opinion, he should stop paying the credit cards. He should use the income he does have to take care of his family.

Having a car is more important than perfect credit. If they don’t have a car, then it will disrupt his work. If that happens, then his income could drop even more.

Then he won’t be able to afford the credit card payments anyways. Besides, there are ways he can repair his credit later on, after the economy has recovered.

At least he will be able to afford living expenses in the meantime. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free 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 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute 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 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 that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

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 our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on Conroe Short Sales: Why Do Some People Worship Perfect Credit? is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – The Stop Foreclosure Institute recently received a question from Paul. Here is Paul's Question.

"I am selling my house as a short sale. I am behind on the mortgage payments. Do you think I should still pay my credit cards?" Paul.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is our answer. I all depends on what is important to you. Can you afford your mortgage payment if you stopped paying the credit cards?

If the answer is yes and you don't want to move, then I would recommend that you stop paying the credit cards. Obviously that will hurt your credit.

But, if you want to keep your home, then you will probably think it is worth it. Then again, I have seen people who would rather have the good credit.

However, if you do want to move, then it would be better to keep paying the cards and short selling the house.

Missed mortgage payments won't have to much of an impact on your credit score 12-18 months down the road, especially if you short sale.

However, a credit card that you never pay on again will stay on your credit for a longer time. The debt will show up as written off and that impacts your credit for a longer time than missed payments.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at laura@realtytx.net. I will contact you for a free 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 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute 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 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 that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

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 our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on Should I Continue Paying My Credit Cards During A Conroe Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – Here are four specific examples of big bank’s negligence causing a loan owner to lose money.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Example #1: Not giving buyers an answer on a short sale within one week. Home buyers don’t like to wait 3-6 months for an answer on a short sale. This fact causes many buyers to shy away from short sales, thereby causing short sales to sell for less.

Lenders should help the loan owners recoup as much money as possible from short sales. To do this, they make the short sale approval process as quick as possible.

They could start the property valuation process when the property is put on the market and determine a certain price they would accept.

More buyers would be willing to purchase the property because they know they wouldn’t have to wait 3-6 months for an answer on the short sale.

Example #2: Turning down loan mods that amortize at a higher value than what is netted on a short sale or thru REO. Let me explain a little better. A lender negotiates a loan mod with a borrower with a new monthly payment of $1,000.

The borrower has a stable income and agrees to pay $1,000 a month for the next 30 years. $1,000 a month for 30 years, at a 6.5% interest rate will repay a $158,210 mortgage.

The servicer turns down the loan mod and forecloses. The house sells for $125,000 as an REO and the servicer nets $115,000. Did the owner of the loan lose money?

I think most people would agree yes. Obviously there are other factors involved, but I think on an actuarial basis they will do better with the loan mod.

Example #3: Not following up on foreclosures properly. I have seen countless examples of servicers hiring an attorney to foreclose on a house. The attorney files the paperwork.

Then, the foreclosure case goes into purgatory. Nothing happen for 6 months, 12 months, 18 months, and even up to 2 years.

I have seen this happen on more than one property. And no, there are not other factors involved. In fact, on two short sales I've handled, the sellers had moved out of the house before the foreclosure was even filed.

Example #4: Not listing REO properties quickly enough. I have witnessed several examples of banks foreclosing on a house and then taking 6 months to a year to put it up for sale.

An example is a house that was foreclosed on September 9th, 2009. It wasn’t listed for sale until May 2010. Say what you want, but waiting 8 months is pathetic.

If the mortgage holder had been a wealthy individual who lived in town, do you think they would have put the home on the market a little sooner?

These are the clearest examples I can think of right now. When you multiply these examples of negligence across hundreds of thousands of defaulted mortgages, you can easily see how this is costing lenders billions of dollars. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free 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 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute 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 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 that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser before making any decision.

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 our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on Conroe Short Sales: Four Specific Examples of Big Bank Negligence is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – This is good news or bad news, depending on how you look at it. Here is the good news.

If you are a little guy having financial problems, then you are not alone. Even Billionaires are being foreclosed on.

One billionaire real estate developer in Florida had several projects foreclosed on. Another very well known real estate developer is having to re-negotiate mortgages on his investment properties.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Even a woman who was married to a man who was the richest man in the world at one time is being foreclosed on. Here is the story according to Yahoo Finance:

"Article Title: The Rise and Fall of Patricia Kluge

Former billionaire spouse turned vintner is now facing foreclosure.

It's the kind of story from which movies are made. Sad ones, that is. A beautiful young woman marries a billionaire, divorces and uses her hefty settlement to strike out into a celebrated business, only to lose it all. Rather than a contrived film plot, this is the real-life story of Patricia Kluge.

Last month Kluge, now 62, bid adieu to Albemarle, a beloved Charlottesville, Va., manse. That's when the 200-acre, 45-room estate became the subject of a foreclosure auction on the courthouse steps in downtown Charlottesville. By its ending, creditor Bank of America had repossessed the property for just $15.3 million.

The sales was just the latest in a string of ups and downs for the former heiress. Raised in Iraq under British rule, Kluge worked early in her career as a nude model for first husband Russell Gay at Knave magazine. On a trip to New York City she met John W. Kluge, the founder of Metromedia. The two were married in 1981. By the time they divorced nine years later, Kluge, the husband, was ranked by Forbes as the world's richest man, worth more than $5 billion.

Patricia walked away with a paltry settlement by comparison, estimated to have come to less than $1 million a year, plus Albemarle. The 24,000-square-foot neo-Georgian home boasts a helipad, wine grotto, stables and two kitchens. It is nestled in the Virginia countryside near Thomas Jefferson's Monticello estate.

The seeds of Kluge's financial downfall were sown in 1999 when, along with third husband William Moses, she established the Kluge Estate Winery and Vineyard on 960 acres near Albemarle. The couple's plan: Create vintages that would establish Kluge Estate, and subsequently Virginia, as an East Coast mecca for fine wine.

The Kluge Estate Winery quickly won critical acclaim for its bubbly vintages and red-wine blends. Soon Kluge wines were making their way to the dinner tables of society darlings and upscale restaurants. They even graced the menu for Chelsea Clinton's multimillion-dollar wedding weekend last July.

Perhaps intoxicated by her success, Kluge decided to expand aggressively. Over the past five years she took out $65 million in loans, according to public records. The money went into expanding wine production and building a super-luxury subdivision called Vineyard Estates, which was to include 24 multimillion-dollar homes with pools, outdoor kitchens, tennis courts, horse trails -- and even space for private vineyards.

That's when the housing crisis hit. Vineyard Estates failed to draw buyers. Property values plunged.

In 2009 Kluge put Albemarle up for sale. Sotheby's International Realty initially listed it for $100 million. The figure was cut to $48 million in early 2010 and then to $24 million, where it sat until February's bank foreclosure.

Apparently unable to service her debt, Kluge then hired Sotheby's Auction House to host a two-day estate auction on the Albemarle grounds. Up for sale went personal jewelry, art and furniture that included a Chippendale dressing commode that sold for $338,500 and a Qing Dynasty table clock that fetched $3.8 million. All told, 933 items brought in $15.1 million.

Next went the winery itself. Farm Creditor of Virginia, one of Kluge's three major lenders, estimates she poured more than $40 million into the business. Despite critical acclaim for her vintages, Kluge appears to have cranked up production to 30,000 cases a year, only to discover that her company could sell less than half that. Kluge and Moses defaulted on almost $35 million in loans. By mid-December Farm Credit had repossessed Kluge Estate Winery and Vineyard after it failed to sell in an auction in which the minimum bid was set at $19 million.

Farm Creditor of Virginia still owns the property and has put a freeze on all operations. The bank plans on April 7 to resell the acreage as six separate tracts in an absolute auction, in which they are sold to the highest bidder with no reserve price. The vineyard's farm equipment will be sold the following day.

With no buyer turning up for Albemarle, Kluge stopped making payments last year and defaulted on nearly $24 million in loans from Bank of America. She received a foreclosure notice in January, and Bank of America picked mid-February to auction off the estate. The bank took possession when no buyers stepped forward with a bid of more than $15.3 million.

There may be a silver lining for Kluge's creditors, if not for the former heiress herself. Donald Trump, a longtime friend of Kluge's, has expressed an interest in taking Albemarle off Bank of America's repossession roster. He has already bought up the 216-acre front lawn.

"Ultimately we'd like to buy the home, but the bank has an unrealistic expectation for the purchase price," asserts Jason D. Greenblatt, general counsel for the Trump Organization. "We do have Right of First Refusal on that piece [the Albemarle home], so that if and when the bank finds a buyer, they would have to come to us first to see if we want to take it."

The Trump Organization also bid in December on Kluge's winery properties, but its offer was rejected by Farm Credit. Greenblatt says he's planning to travel to Charlottesville to tour the grounds and discuss buying the Kluge properties from the banks that now own them.

Kluge remains embroiled in the restitution claims and disputes related to the foreclosures, according to a source close to her, who spoke on condition of anonymity. Kluge herself is remaining mum.

Despite their financial troubles, Kluge and Moses continue to live in a home that many would consider palatial. It's a $3 million Vineyard Estates property they had built on spec back in the days when it seemed as if no real estate deal, or vintage, would ever go sour."

Kluge did what a lot of Average Joes did. She borrowed lots of money and had a hard time making the payments after the economy tanked.

That is some consolation to the person of lower means who bought a big expensive house. How many people bought a house they could afford when the economy was good, but now that their income has dropped they can’t afford it?

Apparently even the rich did it. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free 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 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute 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 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 that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser before making any decision.

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 through with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on Conroe Short Sales: Even The Rich Are Being Foreclosed is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – Bankruptcy is one of the scariest words a lender can hear. A bankruptcy filing can stall their ability to foreclose by 6 months, and sometimes as long as a year.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

The lenders know that most bankruptcies will cause them to lose the ability to pursue you for any losses. This means they can’t go after you for any upside down debt.

The only thing a lender gets in a Chapter 7 Bankruptcy is any collateral they have on a loan. So they can foreclose on your house, but that is about the only thing they can do.

They can’t garnish your wages or bank accounts. So use the bankruptcy threat in your negotiations. Lenders know how much it will hurt their ability to collect from you.

The most effective technique that we have seen is to have all negotiations go thru a bankruptcy lawyer. The lawyer knows how to negotiate from a position of power.

The lawyer will also know full well exactly how bankruptcy will hurt the lender. Even if you have no intention of declaring bankruptcy the lender will get scared and cave in.

Then you can get the loan modification you deserve. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free 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 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute 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 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 that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser before making any decision.

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 through with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on Conroe Short Sales: Why Lenders Back Off When Threatened With Bankruptcy is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – It always amazes me how some people will do anything to have perfect credit. They would rather go hungry than risk harming their prefect credit rating.

A good example is a guy I will call Seth. Seth has perfect credit. He has worked to keep perfect credit for the last 12 years.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Seth has a several credit cards with high balances. He ran the balances up when the economy was strong.

Today, he can barely afford to make the minimum monthly payments. However, Seth was recently turned for a car loan, despite his perfect credit. Why did that happen?

I thought that perfect credit guaranteed that you could get a loan! Well, it turns out that Seth has too much debt.

Most banks won’t lender to someone with a high Debt to Income Ratio (DTI.)They calculate that number by adding up all the bills that you pay each month.

They use these ratios to determine if you have enough money to pay them each month. Seth can barely afford to pay the minimum monthly payments on his credit card debt.

If he pays them, then he can’t afford a car payment. His family needs a car more than they need perfect credit.

In my opinion, he should stop paying the credit cards. He should use the income he does have to take care of his family.

Having a car is more important than perfect credit. If they don’t have a car, then it will disrupt his work. If that happens, then his income could drop even more.

Then he won’t be able to afford the credit card payments anyways. Besides, there are ways he can repair his credit later on, after the economy has recovered.

At least he will be able to afford living expenses in the meantime. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free 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 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute 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 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 that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser before making any decision.

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 through with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on Conroe Short Sales: Why Do Some People Worship Perfect Credit? is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – If the right decision for you and your family is to sell the house as a short sale, then the sale will have an immediate effect on your credit score.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

You might feel like it’s just overwhelming and demoralizing to see your credit score take any more hits!

But, here’s the silver lining: according to most experts, 78% of Americans have ERRORS on their credit score. Why is that a silver lining?

If you have negative errors on your report that get fixed, that will be a benefit to your score.

Average people can, on their own, take steps to repair and restore their credit report/ credit score after a short sale.

Here is how to avoid any double whammies during and after your short sale.

Follow these simple steps.

1. Review your credit report. I recommend the site: https://www.annualcreditreport.com/cra/index.jsp;.

Do not go to any of those “free credit report” sites. After you get the report, review everything on it.

If you see anything that is negative, inaccurate, or questionable make a note of it. On your list, write down why you disagree with that item on your report.

2. Write letters to the different credit bureaus about what you are disputing on your report. There are several sample letters available online: http://www.creditinfocenter.com/forms.;

Here is a simple tip: DO NOT use the online dispute forms that are on the websites of the 3 credit reporting agencies. Write your own letter and make it short, firm, and demanding of action.

3. Mail your letters to the credit bureaus through either registered or certified mail. This is what sets the clock for them to correct issues.

The law lays out a timeline that they have to follow (45 days.) And, this gives you a record of the mailing, too.

4. Keep a file of all that you have done, including dates. Then, track your results, also.

5. When you’ve gotten back responses (or if 45 days pass and you haven’t gotten responses), then it’s time to repeat some of the process again for some item or another on your report.

If you are diligent and proactive, you might just surprise yourself by the benefits you can see in on your credit report – even after your short sale! Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free 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 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute 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 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 that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser before making any decision.

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 thr0ugh with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on How To Preserve Your Credit During A Conroe Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – The Stop Foreclosure Institute recently received a question from Christina. Here is her question.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

"I just read your article Frequently Asked Questions about Short Sales. You mention that you can obtain another home loan two years after a short sale.

Who are these lenders and how can I contact them? I have been looking but so far no luck. Everyone is insisting we must wait three years. I'd appreciate any information you can provide. Christina."

We just heard back from our mortgage broker on this issue. Fannie Mae recently changed their guidelines for a loan after a short sale.

(Since most lenders and loan programs follow Fannie Mae's Guidelines, that means that almost every single lender changed their policies as well.)

When we wrote the article their guidelines had said that you had to wait two years after a short sale. Now those guidelines have been changed to 3 years.

The good news is that you can still buy a house after a short sale. Life does go on and will go back to normal. No matter how bad things may seem, they will get better.

Before you know it the 3 years will pass and you can buy another home. The housing market is still flat and will probably be flat over the next 3 years.

So you will be able to buy the next house for substantially less than what you paid for your current home. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free 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 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute 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 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 that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser before making any decision.

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 through with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on Conroe Short Sales: The Wait To Buy Another Home After A Short Sale Was Recently Changed to 3 Years is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – We at the Stop Foreclosure Institute receive emails all the time that go something like this "The Bank’s Short Sale Problems are not that simple.

A bank can't afford to write off too much loss at once. Also, their investors may not approve the short sale, because they can't afford to write off too much loss at once either. And the circle goes on. Thank you, Amy

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is why this flawed assumption is incorrect. Most of the large, national banks do not own the mortgages they handle.

As an example, Bank of America does not own 80% of the mortgages they service. The biggest holders are the GSEs: Fannie Mae, Freddie Mac, and Ginnie Mae.

These entities are accustomed to losses. The other entity that's set up well and accustomed to losses is FHA.

Most of the remaining loans are owned by Wall Street Firms, Pension Funds, and other professional investors. Most of the loans owned by them have already been written down in value dramatically.

In a few, isolated instances, the "We don't want to write off losses to fast because it will hurt this quarter's earnings" thing applies. First, off any bank CEO that plays this game should be fired.

It’s illegal because of accounting rules. Not writing off losses that you know about could be considered insider trading by many.

Besides, when you push the loss on non-performing loans to the future, the losses are bigger in most cases. Any prudent person would agree that making losses bigger by pushing them to the future is bad business.

The bigger problem is that the lenders don't have enough staff to process the files. They need short sale negotiators to submit files to the owners of the loans.

As an example, on a recent FHA short sale, the negotiator told us it would take her 2-3 weeks to review the offer and then submit it to FHA.

However, she did tell me that FHA only has a 72 hour turnaround from when she submits the file to them. That is pathetic.

Here is why the lender doesn't have any incentive to hire on more staff. On that file, the lender isn't losing the money, FHA is losing it.

Therefore why should the lender spend money to hire on more staff? There is no incentive to do so.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free 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 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute 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 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 that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

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 our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on A Common Conroe Short Sale Myth: Banks Can't Write Off Too Much Loss At Once is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com

Conroe – The Stop Foreclosure Institute recently received a question from another realtor named Sandy. Here is her question.

“An agent in my office currently has a listing under contract. It is a short sale, the sad thing is that Large National Bank (to remain unnamed) notified the sellers that they had foreclosed a month ago.

Fact is, they had not foreclosed. The employee didn’t know what they were talking about. Valuable time and a buyer were lost during this fiasco. This deal is currently awaiting approval. There is no telling what will happen in the end.

My question is this. What can we do to track the foreclosures and see when the bank is foreclosing. Sandy."

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is the answer to Sandy’s Question. The best way that I have seen to track this is by checking the docket.

The docket is the record at the courthouse of everything that is happening on a foreclosure. In some states the foreclosure is a court case and you can track the case.

The bottom line is that your local courthouse will have the best information. Call them and ask for them to explain it to you.

You will need the homeowner’s name and sometimes the court case number. They will explain where the foreclosure is at and how much longer it will be before it is completed. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at . I will contact you for a free 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 936-321-2977

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Conroe loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Laura Austin.

Laura is a Real Estate Agent at Keller Williams Realty.

Phone: 936-321-2977. .

View My homes for sale at .

Laura Bolieu Austin specializes in loan modification assistance and short sales in Conroe Texas. Conroe Loan Modification Help, Conroe Short Sales. Conroe Short Sale Realtor. Conroe Short Sales. Conroe Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Laura Austin, Keller Williams Realty, and the Stop Foreclosure Institute 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 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 that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax adviser before making any decision.

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 through with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Laura's personal views and do not reflect the views of Keller Williams Realty.

This information on Conroe Short Sales: My home is in foreclosure. How soon will the bank kick me out? is provided as a courtesy to our viewers to help them make informed decisions.

Laura Bolieu Austin
ABR, CDPE, CDRS, CSSBR, CHMS,
CSP, GRI, SFR, SRES, TAHS,
Certified New Home Buyers Representative
REALTOR®
Keller Williams Realty - Conroe
936-321-2977 Direct
281-798-2911 Cell
866-347-2911 Fax
Laura@RealtyTx.net
www.RealtyTx.net
www.StopForeclosuresInTX.com
www.AvoidForeclosureInConroe.com