Interesting Short Sale Myth: Banks Can Not Write Off Too Much Loss At Once

Interesting Short Sale Myth: Banks Can't Write Off Too Much Loss At Once

We at the Texas Group Realtors 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.

Click on www.dallastxshortsalequeen.com 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.

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.

Besides, when you push the loss on non-performing loans to the future, the losses are bigger in most cases.

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.

A negotiator usually has 10 business days to review the offer and then submit it to FHA.

And then FHA has a 5-7 day turnaround from when she submits the file to them.

Since the lender is not the one who will experience the loss they have no incentive to hire on more staff to process short sale quicker.

Therefore it is the investors who actually take a loss in a short sale and due to the lack of personal with the mortgage servicers is why they take a while to do.

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 beth@txhomerealty.com.  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 (214) 650-5536.

Discover how other sellers successfully completed a short sale in Cedar Hill, Desoto, Duncanville, Lancaster and request a free consultation by emailing beth@txhomerealty.com

Thinking about a loan modification? Our Dallas loan modification kit has the instructions you will need to get a loan modification approved with your bank. Email phillis@txhomerealty.com.

Thanks for reading this, Phillis Nealy.

Phillis is a Real Estate Agent at The Texas Group.

Phone: (469) 523-1402.  

A Realty company with Service as Big as Texas

View My homes for sale at http://www.southdallashomes.com.  

Important Notice

Phillis Nealy, The Texas Group, and the Texas Group Realtors are not affiliated in any way, shape, or form with the government.

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.

Tip # 6 to Fixing Credit After a Short Sale: Always Document Everything

Tip # 6 to Fixing Credit After a Short Sale: Always Document Everything

I mentioned in the last note that you’ll need to keep a file of records about your credit restoration process. This is an important part of the process, and deserves a bit more than a brief mention.

Email phillis@txhomerealty.com to discover how other sellers successfully did a short sale and avoided foreclosure.

The credit reporting companies have 30 days (by law), to investigate and handle the disputes submitted to them. This is why you submitted everything through certified mail.

That enables you to record the time firmly for the credit reporting firms to respond within. But it’s more than that. This file will become important for a long time for you.

Many people successfully removed items from their credit reports. Later on they found those same items show back up on their credit report months in the future! Having a record of your efforts and the results is needed to keep your record blemish free in the future.

Make your records easy to follow. You will need to keep the original copy of your credit reports here, as well as the copies you’ve made notes and comments on.

Keep copies of the letters you send to the credit reporting companies. Keep the Certified Mail slips. File any correspondence that the credit reporting companies send to you.

Keep a journal in your file of any telephone conversations you have with any of the creditors or credit reporting companies. Record in this journal the names, dates, times, and notes of these phone calls.

In addition, have a method to remind yourself of “action step dates” – those dates where you expect to have a certain action done by the credit reporting firms.

This can be a calendar you keep on the front of the file, or use Outlook’s calendar feature, or your calendar app on your phone.

This may seem like your credit report has become your new part time job, but with a little bit of organization and perseverance, it will be worth 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 phillis@txhomerealty.com. 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 (888) 287-8945.

Discover how other sellers successfully completed a short sale in Midlothian, Arlington, Mansfield, and request a free consultation by emailing beth@txhomerealty.com.

Thinking about a loan modification? Our Dallas loan modification kit has the instructions you will need to get a loan modification approved with your bank. Email beth@txhomerealty.com to request a copy.

Thanks for reading this, Phillis Nealy.

Phillis is a Real Estate Agent at The Texas Group.

Phone: (888) 287-8945.

A Realty company with Service as Big as Texas

View My homes for sale at http://www.txhomerealty.com

Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.

Important Notice

Phillis Nealy and The Texas Group Realtors are not affiliated in any way, shape, or form with the government.

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.

Tip # 5 to Fixing Credit After a Short Sale: Mailing the Letter

Tip # 5 to Fixing Credit After a Short Sale: Mailing the Letter

Once your strongly worded credit report dispute letters are written to each of the three credit reporting companies, then it is time to get it into the hands of their dispute department.

The goal is to get your letter read, taken seriously, and responded to.

 Email phillis@txhomerealty.com to discover how other sellers successfully did a short sale and avoided foreclosure.

**Make sure you make a copy of whatever you are sending to the credit bureaus.** Just keep all your credit reports, letters, etc. in a file so you can use these later (this will be important.)

Send your letter, a copy of the credit report with the items you are disputing noted in Sharpie, and a copy of your driver’s license to each of the credit reporting companies.

This step CAN be a bit tricky, even though it should be the easiest step of all! Here’s why – the credit reporting firms don’t really like to deal with these dispute letters, and they change their mailing address for submitting these requests fairly often.

You will need to go to the website for Experian, Equifax, and Trans Union to get their dispute address.

BUT DO NOT SUBMIT YOUR DISPUTES ONLINE, like their websites pushes you to do. If you do this, your request is less likely to be taken seriously, and you won’t have any written record of what you submitted.

Send each of your letters as Certified Mail. Your local post office will help you with this.

Put the copy of the certification slip into your file as well. The certification slip ensures that you have a timeline started for restoring your credit.

 

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 beth@txhomerealty.com. 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 (888) 287-8945.

Discover how other sellers successfully completed a short sale in Cedar Hill, Lancaster, Grand Prairie, Dallas and request a free consultation by emailing beth@txhomerealty.com.

Thinking about a loan modification? Our Dallas loan modification kit has the instructions you will need to get a loan modification approved with your bank. Email phillis@txhomerealty.com to request a copy.

Thanks for reading this, Phillis Nealy.

Phillis is a Real Estate Agent at The Texas Group.

Phone: (888) 287-8945.

A Realty company with Service as Big as Texas

View My homes for sale at http://www.txhomerealty.com

Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.

Important Notice

Phillis Nealy, and The Texas Group Realtors are not affiliated in any way, shape, or form with the government.

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.

Tip # 4 to Fixing Credit After a Short Sale: Credit Bureaus

Tip # 4 to Fixing Credit After a Short Sale: Credit Bureaus

Using your work on the credit report, you are ready to take action. You are now going to write a letter to the credit bureaus about the items you’ve highlighted and noted.

Email phillis@txhomerealty.com  to discover how other sellers successfully did a short sale and avoided foreclosure.

You are writing to the credit bureaus because they are the ones reporting the information – it is up to them to change what they report.

The goal is to get bad things deleted from your credit report in order to improve your score.

Do not go to Google, or bing and try to find a form letter than you should send in for this step! The credit reporting companies can spot those like a hunting dog can spot a duck.

You will not get anywhere with a “canned” letter, and will damage your chances of ever resolving issues.

Your letter should sound like you are frustrated (which you undoubtedly are), and should sound authentic. But, do sound polite and friendly.

Don’t sound like an expert, but do sound like you expect action. In this round of letters – your aim is to have the credit bureaus remove items that are hurting your credit score.

The bureau will then have to investigate your dispute and REMOVE any of the disputed items if they can’t prove them to be accurate (this involves them contacting the original creditor and verifying with them – all within the short 30 day window allowed by law).

Here is the basic outline to follow for your first round of letters you send:

At the TOP of the letter, put your name, SSN, current address (and state lived there for X years), and your DOB.

Say something about how you’ve just reviewed your credit report, and found items that are inaccurate.

List the items BRIEFLY. Say something like: “Chase Credit Card xxx-xxx-xxxx, listed for 30 days late. I have never been late on this account,” or “Citi Credit Card xxx xxxx xxx listed as collections. This is false.”

Note that you are upset / worried / distressed / embarrassed about these items, since you know they are negatively affecting your credit score.

Ask that these items be deleted from your report immediately.

Add Sincerely, and your name below. Sign the letter.

Include a photo copy of your driver’s license as proof that you are you making this request. Also include proof if you have it (credit card statement from the month where they say you were late when you weren’t.)

The next step is to submit this letter.

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 phillis@txhomerealty.com 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 (888) 287-8945.

Discover how other sellers successfully completed a short sale in Midlothian, Waxahachie, Ennis, Ferris and free consultation by emailing phillis@txhomerealty.com.

Thinking about a loan modification? Our Dallas loan modification kit has the instructions you will need to get a loan modification approved with your bank. Email phillis@txhomerealty.com to request a copy.

Thanks for reading this, Phillis Nealy.

Phillis is a Real Estate Agent at The Texas Group.

Phone: (888) 287-8945.

A Realty company with Service as Big as Texas

View My homes for sale at http://www.southwestdallashomes.com
 

Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.

Important Notice

Phillis Nealy, The Texas Group, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government.

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.

 

 

Tip # 3 Fixing Credit After a Short Sale: Order Of Importance

Tip # 3 Fixing Credit After a Short Sale: Order Of Importance

The next step in going over your credit reports is to really rank the items being reported about you to find ones that are the most negative. Rank the negative items with the MOST negative ones given the lowest ranking.

Email phillis@txhomerealty.com to discover how other sellers successfully did a short sale and avoided foreclosure.

You want to rank the ones that will cause the most damage to your credit score.

The most damaging items (in order of damage amount): bankruptcy; foreclosure; repossession; loan default; court judgment; accounts in collections; payments that are past due; payments that are late; being denied credit; inquiries to open new credit.

One thing to note about disputing things on your credit report – items like court judgments and foreclosures and child support arrears are verified by a different system, and are rarely if ever disputable.

Here is one of the best suggestions that I have seen work well. Take a Sharpie pen, and mark on the unused copy of your report.

Circle the items you are disputing and write a SHORT note about why you are disputing that item – for example “Not my account” or “Not Late.”

I am not advising you to lie or make misleading statements when you write to the credit reporting company. However, I will tell you that if someone is reporting something about you, they should be able to prove that what they are saying is the truth.

The credit bureaus are required to check out and investigate all the disputes they get that are deemed to not be “frivolous or irrelevant.”

What that means is that you need to not dispute every single item on your report right now, and you need to be taken seriously.

This means DO NOT use the dispute form that they sent with your credit report. They see those forms as “frivolous” 9 out of 10 times.

DO NOT use their online dispute center – the credit bureaus don’t take those seriously because they think you can’t be too serious if you just click-click-clicked away to dispute 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 philli@txhomerealty.com.  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 (888) 287-8945.

Discover how other sellers successfully completed a short sale Cedar Hill, Grand Prairie, Duncanville, Arlington and request a free consultation by emailing phillis@txhomerealty.com.

Thinking about a loan modification? Our Dallas loan modification kit has the instructions you will need to get a loan modification approved with your bank. Email beth@txhomerealty.com to request a copy.

Thanks for reading this, Phillis Nealy.

Phillis is a Real Estate Agent at The Texas Group.

Phone: (888) 287-8945.

A Realty company with Service as Big as Texas

View My homes for sale at http://www.southwestdallashomes.com

Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.

Important Notice

Phillis Nealy, The Texas Group, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government.

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.

Tip # 2 to Fixing Credit After A Short Sale: Analyze Your Credit Report

Tip # 2 to Fixing Credit After A Short Sale: Analyze Your Credit Report

Once you have gotten your credit report, the next step in the process of restoring your credit score is to go over it with a critical eye. Analyze what the report says.

Email phillis@txhomerealty.com  to discover how other sellers successfully did a short sale and avoided foreclosure.

BE OBJECTIVE - do not let your emotions get in the way when looking at your credit report.

First, make two copies of your credit report. Save the original without any marks on it. You can make any notes you need on one of the copies, and put the other copy aside for a later step.

Your credit report will show all sorts of history on your credit accounts. Look for all the negative items on your credit report and highlight each one.

 The credit reporting firms might not make it easy for you to know what they are considering negative with all the codes they use. 

As a very general rule, Experian notes negative items with an asterisk or an inquiry; Equifax and TransUnion uses a different symbols as a way to signal negative items or items that have a rating higher than l1, M1, or R1.

You can also look for these words: repossession, foreclosure, profit and loss write-off, charge-off, paid profit and loss write-off, paid charge off, settled, settled for less than full balance, included in bankruptcy, collection amounts.

Paid, unpaid (or anything indicating payment history); court accounts, liens, judgments, bankruptcy (chapters 11,7, or 13) divorce, satisfied liens, or satisfied judgments; or items that show more than 30, 60, or 90 day payments. All of these should get highlighted by you.

Once you’ve highlighted anything that is listed as negative, take out a pencil and put a note next to the items that are either inaccurate or inconsistent. Inaccurate items are the ones that aren’t yours, or show the wrong balance, etc.

An inconsistent reporting is where the same information on the report contradicts itself somewhere else. For example, showing one place that there are twelve 31-day-lates on an account, while also saying that the account was only reviewed for 4 months.

It is always surprising how often there are errors like that found on credit reports. Remember – there’s a whole lot of information being submitted each day to these companies, and mistakes can happen.

The next step will be important to take as soon as you finish highlighting your report. You will need to move quickly through these first few steps – your timing is all tracked and it’s important for you to be diligent so that your credit can be restored.

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 phillis@txhomerealty.com.  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 (888) 287-8945.

Discover how other sellers successfully completed a short sale in Desoto, Midlothian, Lancaster, Waxahachie and request a free consultation by emailing phillis@txhomerealty.com.

Thinking about a loan modification? Our Dallas loan modification kit has the instructions you will need to get a loan modification approved with your bank. Email beth@txhomerealty.com to request a copy.

Thanks for reading this, Phillis Nealy.

Phillis is a Real Estate Agent at The Texas Group.

Phone: (888) 287-8945

A Realty company with Service as Big as Texas!

View My homes for sale at http://www.txhomerealty.com

Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.

Important Notice

Phillis Nealy, and the Texas Group Realtors are not affiliated in any way, shape, or form with the government.

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.

Tip # 1 To Fixing Your Credit After A Short Sale

Tip # 1 To Fixing Your Credit After A Short Sale


Credit score is the number one reasons that people are concerned about a foreclosure or short sale in their history.

Email philis@txhomerealty.com to discover how other sellers successfully did a short sale and avoided foreclosure.

While it’s true that your credit score will be adversely affected by these items, it is also true that you can move past blemishes on a credit report.

You may want to consider doing some credit repair or credit restoration. It isn’t hard to do, and when taken step by step, it can be handled in an organized, manageable way.

The first step that you need to do is to get and review your credit report. I’m always amazed by the psychology of just this step.

Most people don’t want to pull their credit report because they “just feel” like it will be bad, and they don’t want to see it.

However, you won’t know where you are at or how to get onto the next phase of recovery until you figure out where you are at.

You have seen all the commercials, and can sing the jingles, for some of the places to get your credit report. There are pros and cons for any of the places you can get your credit report.

The two words of caution I offer here are:

1.       You can get an annual free credit report (the one that the government requires the 3 credit reporting bureaus to provide) from annualcreditreport.com.

However – if you choose this route – it is free, but it then bumps up the time that a creditor has to investigate any of your disputes from 30 to 45 days.

This isn’t a great option, in my opinion. You’ll understand why after you learn about the dispute process.

Also, be aware that this service doesn’t have to give you your 3 digit credit score – which you might want to know.

2. Most of the other services offer you a free 30 day trial period</strong>, and then you get “enrolled” in their credit monitoring program. If you aren’t one to keep track of the 30 day trial timeframe, you could end up sucked into paying for something that you wouldn’t normally want to spend monthly money on.

In the next article about your credit report restoration, I’ll talk about how to review your report, what to look for, and how to analyze 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 phillis@txhomerealty.com. 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 (888) 287-8945.

Discover how other sellers successfully completed a short sale in Cedar Hill, Lancaster, Duncanville, Desoto and request a free consultation by emailing phillis@txhomerealty.com.

Thinking about a loan modification? Our Dallas loan modification kit has the instructions you will need to get a loan modification approved with your bank. Email phillis@txhomerealty.com to request a copy.

Thanks for reading this, Phillis Nealy.

Phillis is a Real Estate Agent at The Texas Group.

Phone: (888) 287-8945.

A Realty company with Service as Big as Texas

View My homes for sale http://www.southwestdallashomes.com.

Important Notice

Phillis Nealy, and The Texas Group Realtors are not affiliated in any way, shape, or form with the government.

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.

Can I rent my home if it is in Foreclosure?

Dallas Short Sales: Can I Rent My Home If It Is In Foreclosure?

Short Sale Question: 

I am selling 2 of homes that are short sales. I would like to rent the homes during the foreclosure process. I will continue to pay the home owners association fees. I will not be paying the mortgage.

Is it legal to do this? Is there any liability that comes with it?

Email phillis@txhomerealty.com to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to them.

The Stop Foreclosure Institute is not a law firm. Therefore, we can’t answer as to whether or not it is legal. We recommend that you check with a lawyer before making a decision.

We do know that there are laws forbidding that practice in many states. For example, Florida recently passed a law that stated that you had to notify any potential renter whether or not the home was in foreclosure before renting.

From what we have heard about the law, if you lease a property in foreclosure and don't tell the tenants, then it is a criminal offense.

If it was a problem in Florida, then it was a problem in other states and they probably passed similar laws. We have seen cases in the past where a homeowner sold their home as “Owner Financing.

The home was in foreclosure and buyers filed a police report. The sheriff’s office investigated the homeowner for fraud. The people who thought they were buying the home paid the owner a large down payment.

They didn’t know the home was in foreclosure. He disappeared with their money and they were kicked out by the bank.

We don’t know what ended up happening. The bottom line is that anything fishy can have future repercussions. So check with a lawyer to make sure you won’t have any problems. 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 phillis@txhomerealty.com.  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 (888) 287-8945.

Discover how other sellers successfully completed a short sale and request a free consultation by emailing phillis@txhomerealty.com.

Thinking about a loan modification? Our Dallas loan modification kit has the instructions you will need to get a loan modification approved with your bank. Email Phiilis@txhomerealty.com to request a copy.

Thanks for reading this, Phillis Nealy.

Phillis is a Real Estate Agent at The Texas Group.

Phone: (888) 287-8945.

A Realty company with Service as Big as Texas

View My homes for sale at http://www.txhomerealty.com

Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.

Important Notice

Phillis Nealy, The Texas Group, 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 Phillis's personal views and do not reflect the views of The Texas Group.

This information on Dallas Short Sales: Can I Rent My Home If It Is In Foreclosure? is provided as a courtesy to our viewers to help them make informed decisions.

Dallas Short Sales: Do I qualify for a short sale?

Dallas Short Sales: Do I qualify for a short sale?

Scenario:

"I recently purchased another home and tried to sell my former home. It isn’t selling and I can’t afford to make both payments. The home won’t rent for even 1/2 of the mortgage payment.

An agent told me the house is worth about $50K under the mortgage amount. Is it realistic for me to try the short sale?  The only hardship created was when I decided to move to a larger home for family. Dan."

Email phillis@txhomerealty.com to discover how other sellers successfully did a short sale and avoided foreclosure.

Here was our answer to this scenario.

I think you can short sale your house.  Do you have a legitimate hardship?

I know you said you needed a larger house. However, if you also moved for a job transfer, then most lenders would consider that a legitimate hardship.

A hardship is not black and white. Some lenders would consider your situation a hardship. More often than not they will approve the short sale.

Others would not and won’t work with you on a short sale. In addition, the lender may not work with you until you have missed a payment or two.

Whether or not you miss a payment is your decision. You should weigh your options and decide whether or not you can live with the resulting credit damage.

Many lenders will work with you on a short sale even before you have missed a payment. If you were working with us, then we would help you. But, we would have the expectation that it would be a 6-12 month process.

Make sure that you work with a competent short sale agent. Look for someone that is a short sale expert. Ask them how many short sales they have sold.

Ask them if they have worked with your lender in the past. Then you will be able to judge whether they are qualified to help you. 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 phillis@txhomerealty.com. 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 (888) 287-8945

Discover how other sellers successfully completed a short sale and request a free consultation by emailing phillis@txhomerealty.com.

Thinking about a loan modification? Our Dallas loan modification kit has the instructions you will need to get a loan modification approved with your bank. Email phillis@txhomerealty.com to request a copy.

Thanks for reading this, Phillis Nealy.

Phillis is a Real Estate Agent at The Texas Group.

Phone: (888) 287-8945.

A Realty company with Service as Big as Texas

View My homes for sale at http://www.txhomerealty.com.

Phillis Nealy specializes in loan modification assistance and short sales in Dallas Texas. Dallas Loan Modification Help, Dallas Short Sales. Texas Short Sale Realtor Dallas TX Short Sales. Dallas Realtor.

Important Notice

Phillis Nealy, The Texas Group, 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 Phillis's personal views and do not reflect the views of The Texas Group.

This information on Dallas Short Sales: Do I qualify for a short sale? is provided as a courtesy to our viewers to help them make informed decisions.