James Lockard - Bergen County Real Estate Blog

Bergen County NJ – Short sales are difficult when you do not know what you are doing. But, they aren’t as difficult as people say. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here are the three keys to getting a short sale approved. #1: Follow ...

  Bergen County NJ – Some people think that short sales represent a bargain in the real estate world. Some people have said that banks sell short sales for below market value because they want to avoid foreclosure. That isn’t true. Yes, banks do prefer to sell a property in foreclosure as a short...

Bergen County NJ – In our last post, we talked about how you could contact the entity that owns a loan. But, some people were wondering how they could find out who owned their loan. “I thought ABC Bank owned my loan. I send them a payment every month”, they told us. Well, here is how to research...

Bergen County NJ – Occupy Wall Street Protestors are not having the best success attacking Wall Street and the banks. But, that is because they are complaining about what they think is wrong with the situation. Click here to discover how other sellers successfully did a short sale and avoided fo...

Bergen County NJ – Why does a British Bank do a better job than the American Banks? We have always liked short sales with HSBC. They respond promptly and are easy to work with. The bottom line is that they do a solid, competent job handling short sales and loan modification. I think the reason i...

Bergen County NJ – A bank should accept your short sale when the following rules apply. All banks and servicers have a fiduciary duty to the investor of the loan. If they own the loan themselves, they have a fiduciary duty to their stockholders. The duty is to get that investor the most money po...

Bergen County NJ – The Stop Foreclosure Institute recently received a question from James. Here was his question. “We are in the middle of a very long negotiation with a large national lender. I had my agent put a clause into the contract stating “upon approval of short sale by sellers’ lender, ...

Ridgewood NJ – Many lenders do not own the loans they handle. Instead, they are paid by the actual loan owner to collect payment. In my opinion, the banks make millions by understaffing their foreclosure departments? Here’s a real life example. A bank forecloses on a house and waits for over a y...

Ridgewood NJ – An agent with the Stop Foreclosure Institute recently had a short sale negotiator lie to them. We have spent the last 6 months figuring out all the rules for short sales on different loan types. The rules are different for an FHA Short Sale, a VA Short Sale, and a Fannie Mae Short...

Ridgewood NJ – Does it make you angry when a bank kicks a family out of their home and loses money as a result? This happens all the time. Let me explain how. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. A family buys a home for $250,000. The ho...