James Lockard - Bergen County Real Estate Blog

Bergen County NJ – The Stop Foreclosure Institute recently received a question from Josh. Here was his question. “I heard that a short sale reduces a lender’s losses by 20% compared to a foreclosure. You would think that would make them excited to work on my short sale. But, they are dragging th...

Bergen County NJ – Many people mistakenly think that a short sale is adversarial. “I will fight that banker and convince them to let me short sale and walk away from the upside down debt”, they think to themselves. That is not how short sales actually work. Most negotiations are not adversarial....

Bergen County NJ - You might think it is an embarrassment to sell your home as a short sale. "My friends will laugh at me when they realize that I owe more on my house than it is worth", some people think. The reality is that many Americans are in your same position. In fact, some experts think t...

Bergen County NJ - A few years ago most agents didn't understand short sales. They didn't want to get involved on them because of the extra work required. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Short sales take two to three times as much wo...

Bergen County NJ - Many homeowners think they have lots of time. "We'll put out home up for sale in a few months. I know the bank is working to foreclose on it, but we can wait", they say to themselves. In order to have a successful short sale, then your agent will need time to submit everything ...

Bergen County NJ - Here is a case study of a homeowner that wiped out $101,279 in upside down debt. They built a brand new home at the peak of the market. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. They were forced to sell for job relocation a ...

Bergen County NJ - Some homeowners looking to short sell their home think that they will have to repay their lender for the entire loss. It's unfortunate to see them stress out and lose sleep at night wondering how they will repay the debt. A short sale loss is usually a large bill for the averag...

Bergen County NJ - Most people short selling their home do not want to repay the deficiency. And in most cases, the lender allows them to walk away with no deficiency. But, that is not always the case. Some banks are very pushy when it comes to the deficiency. They won't approve the short sale un...

Bergen County NJ -We had a question about FHA short sales yesterday. We did some research on FHA short sales as a result. We stumbled upon something interesting. We have a list of all of the things that FHA considers legitimate hardships for a short sale. Click here to view the actual list from F...

Bergen County NJ - Loan Modifications are tough. Lenders don't want to reduce your payment or reduce the amount you owe. It's insane. Don't even get me started on the topic of the nation's courts being tilted in the favor of the big banks! Get my Free, Step By Step Loan Modification Guide by clic...