Tehachapi Short Sales: Why Lenders Back Off When Threatened With Bankruptcy

by Sally Lawrence on March 21, 2011

Tehachapi CA – 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.

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 never pay the bank another penny. Send me an e-mail at Sally@HomeSalesSally.com. I will contact you for a free confidential, no cost, no obligation 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 661 375 7325

Thinking about a loan modification? Our Tehachapi 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, Sally Lawrence.

Sally is a Real Estate Agent at Town & Country Real Estate. Tehachapi Short Sales Realtor:

Phone: 661 375 7325. Sally@HomeSalesSally.com.

View My homes for sale at Kern County Real Estate Info.

Sally Lawrence specializes in loan modification assistance and short sales in Tehachapi California. Tehachapi Loan Modification Help, Tehachapi Short Sales. Tehachapi Short Sale Realtor. Rosamond CA Loan Modification Help, Rosamond CA Short Sales. Rosamond CA Short Sale Realtor. Antelope Valley CA Loan Modification Help, Antelope Valley CA Short Sales. Antelope Valley CA Short Sale Realtor. Tehachapi CA Short Sales. Tehachapi Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Sally Lawrence, Town & Country Real Estate, 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.

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

The views expressed here are Lawrence’s personal views and do not reflect the views of Town & Country Real Estate.

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

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