Maryland short sale approval success story: $85K Forgiven (discounted) by IndyMac Mortgage Services (OneWest Bank) in 45 days!

Posted by Owen McGab Enaohwo on Jul 31, 2010 | View Comments

My reason for doing this:

When a homeowner finally decides that he/she wants to sell their property via a Short Sale, they know that they only have a limited amount of time before the foreclosure and they need to be rest assured that the agent they are about to hire has the necessary experience to get the job done. This is the reason why I now write blog posts about my successes with Short Sales with various lenders. I pinch myself now because I wish I have started doing this a long time ago (enough with the rant – now to gist of this deal).

The background story:

Just this past April, I got a call from Patrick; a friend of the seller, Peace A. (my client and seller of this short sale). He explained to me that he had seen one of my blog posts online on short sales and he felt that I would be the best person to help Peace. After I explained my process to him, he referred me over to the seller whom I called immediately and took the time to explain how a short sale would help her avoid foreclosure. To cut a long story short I met with her and her friend at the property, signed up the listing and got to work. This short sale was different because she was going to be out of the country while I was negotiating with her lender and trying to get her property sold. Well, I took up the challenge and got the ball rolling!

 Testimonial from Peace A. [3:34m]: Play Now | Play in Popup | Download

Is a Short Sale Right for You? Read and then Decide!

Posted by Owen McGab Enaohwo on Jul 27, 2010 | View Comments

Real Estate is totally different today than it was just ten years ago, especially because of the “Great Recession”. One thing that has changed is that, more than ever, the term “Short Sale” is now a hot topic that almost anyone paying attention to the news media must have heard. Many sellers who have determined that they can’t sell their home for the amount they owe are now considering doing a short sale instead of allowing the lender to foreclose. But is it always a good thing? How can you tell whether a short sale is right for you? Let’s take a look at some guidelines that will help you decide.

A True Foreclosure Story – Note: the tale you are about to read might be yours!

Posted by Owen McGab Enaohwo on Jun 24, 2010 | View Comments

Painting the picture – You are a homeowner experiencing a financial hardship, you have lost your job and can’t keep up with your mortgage payments. You desperately need to find a solution to the problem because it’s weighing down heavily on you. You can barely function or think properly because it feels like your whole world is crumbling and you need to get you life back on track.

Should Homeowners strategically default on their mortgage payments?

Posted by Owen McGab Enaohwo on Apr 9, 2010 | View Comments

I know the title got your attention but before you pass judgment, I suggest you read the entire blog post and then tell me what you think by leaving a comment.

Why do you want to strategically default?

A few years ago, you applied for a mortgage to buy a home for your family to live in and have a roof over their heads. It was meant to be an investment, a means for you to increase your total net worth and move up to the next level in life. You were so glad the bank approved your loan that immediately after buying the house, your family moved in and you began to live the American Dream of Home Ownership or so you thought. Not too long after that the dream became a nightmare; the economy began to tank, you had problems with your job and you bills started piling up. You started having a hard time keeping up with your mortgage payments. Even then, you kept on paying your mortgage.

Take a dose of the Short Sale pill from your local Realtor to relieve your Mortgage payment Headaches

Posted by Owen McGab Enaohwo on Feb 10, 2010 | View Comments

You have been hit so badly by the economic downturn. Your finances are not in a good shape. You’re having a hard time paying the mortgage on the house, and you are sure that in time the lender will start foreclosure proceedings against you. You want avoid that, but don’t know how. A short sale can help you avoid foreclosure. Do you have an idea what a short sale is? Do you know of any one who went through the short sale process?

I will define the term short sale, so you can make an informed decision on whether to go through with a short sale or not, but before that, let me take a step back and discuss your current situation. This is the common process everyone else went through before they decided that a short sale was in their best interest.

 Take a dose of the Short Sale pill from your local Realtor to relieve your Mortgage payment Headaches [4:23m]: Play Now | Play in Popup | Download