[ I Figured out how to get bank of America to approve a short sale](http://1.gventures.pay.clickbank.net/) in Six weeks!
I got Bank of America to approve my Short Sale but it was REALLY HARD and I nearly blew it because I didn’t have the information I desperately needed.
Then I started helping my friends get Short Sales too. Some of them even bought their old homes back for [pennies on the dollar.](http://1.gventures.pay.clickbank.net/)
WARNING:
Bank of America does not want you to have this information!
If you can't answer these questions
your Short Sale will NOT get approved:
· Did you know there are two different types of short sales? If you don’t know which one to ask for you have a fifty-fifty chance of getting rejected. Depending on your situation, you will fit into one category or the other and the strategies for getting approved are completely different.
· Are you a viable candidate for a short sale? If you aren’t, don’t waste your time trying to get a short sale or you will either end up losing your home to foreclosure faster than you can say “U-Haul†or you will end up in bankruptcy and the Sheriff WILL take everything you have and auction it off on the courthouse steps. If you aren’t a viable short sale candidate, I’ll give you a few tips on how to stay in your home for free as long as possible and negotiate a graceful exit in the end.
· Do you know how the short sale process REALLY works? Trust me, the bank WILL NOT TELL YOU. Heck, most of the people who work for the bank probably don’t know how it really works and your Realtor just wants to get a commission so she won’t give you the whole story even if she’s been through it before. Besides, it’s the homeowner who ends up doing 99% of the work to get a short sale done.
· Do you want a lesson in Social Engineering 101? Bank of America is a HUGE corporation and that means no one really knows what is going on. Use it to your advantage. I can teach you how to get bank employees to tell you exactly what you need to know including all of the information they are DESPARATELY trying to keep you from getting. I’ll even give you a way to get the direct phone number for the actual person who is managing your short sale file. It’s actually kind of fun!
· Do you want to know how to find out EXACTLY what the bank really wants? I figured out a reliable way to calculate the bank’s decision point- the least amount of money they will take and walk away.
· How can you get Bank of America to lower that decision point price? Here’s a hint: you need inside information and a specific type of appraisal. I’ll show you a way to get both.
· What if you want to keep living in your house AFTER the short sale? YES, IT IS POSSIBLE! I’ll show you how I structured a deal that let me stay in my house for as long as I want.
· What happens at the actual ‘Short Sale’? How does the closing really work? Who is there, what paperwork is needed and how can you manage those inevitable last minute surprises? If you do everything right before closing day, it will be a breeze. If you don’t, THE WHOLE DEAL COULD FALL APART AT THE CLOSING TABLE!
My Short Sale Success Story
My short sale success story really started almost four years ago. WAIT! Before you get too discouraged, let me explain. I bet your short sale success story started a few years ago too even if you think you are just starting the process. Obviously, things used to be different for you, too. You were doing well enough to buy a house and keep up with the payments for a while before the whole world turned upside down. But let me get to the point: you can get through it if you have the right information and you are willing to follow a pretty simple plan. I did and now my life is finally back to normal. Actually, it’s better than ever. Now that I’m on the other side of the fence I can honestly say that this ‘financial crisis’ is one of the best things that ever happened to me. Here’s my story.
Four years ago I was making really good money servicing the residential building industry. I was turning away work because I just couldn’t keep up with all of the demand. My wife and I just had our third child and we needed a bigger house. Of course back then it didn’t really matter if you were making a lot of money or not- you could practically get a loan easier than you could get a library card. Houses were selling so fast that when we found the one we wanted we made a full price offer on the spot. What a steal at only $635,000. Ah 2006, what a great time to buy a house!
Not really. At the time, the hardest part about buying the house was getting the mortgage broker to get to our file. I had to call every day for three weeks to get her to finish the loan. She was as swamped with work as I was. Little did I know, in the end, her rush to get the loan approved would turn out to really help our case. Don’t worry- if you got your loan in the last ten years, I can almost guarantee someone made the same mistakes that our mortgage broker and bank did.
Finally the loan was funded, we closed on the house and we moved into our dream home. A few months later we started to see the first signs of the problems that would nearly consume us for the next few years. While searching for our home we started to visit the website Zillow.com and we kind of got hooked on the seemingly endless uptick in the value of our home. Then it stopped. Zillow started to tell us that the house wasn’t increasing in value anymore. Then it went down a little. The snowball effect was just starting.
I still remember the first time I made a snowman. I grew up in Arizona so I didn’t play in the snow until I was 12 and our family had to go to my uncle’s funeral in Chicago. In January. I didn’t own a heavy jacket but I had a few cousins close to my age up there so I just borrowed one. They thought it was funny that I didn’t know how to make a snowman. I figured it was like building a sand castle. It’s not. For those of you who have never done it, you pack a ball of snow about the size of a bowling ball in the palm of your hand, then put it on the ground a start rolling it around. Faster than you can imagine, that little snowball is the size of a washing machine. I finally understood what people meant when they talked about a problem snowballing.
About the same time that Zillow decided that my house was no longer appreciating like a dot-com stock in 1999 my business started slowing down. Usually when I had a client who was late paying me it was because he was so busy he just forgot. All of a sudden I not only had less work to do but I started having trouble getting paid for the work I was doing. Turns out, everyone had been broke all along but the banks just kept handing out money anyway. Once the real banks stopped loaning money to anyone and everyone, people stopped paying for things by borrowing against those big piggy banks we all lived in. When the easy money dried up, so did my business. When I bought my house I was bringing home three times my mortgage payment every month. When my income went to ZERO my mortgage payments stayed the same.
I’ve always paid my bills on time so I did the only thing that felt was right: I kept paying my mortgage by draining every penny of my savings, even the money we had put away for our two younger kids’ college funds (we figured we’d have longer to catch up for the younger kids). Man I wish someone had given me the advice that I am about to give all of you. STOP RISKING YOUR FAMILY’S SECURITY TO PAY BACK A BAD LOAN FROM A HUGE CORPORATION THAT TOOK A CALCULATED RISK WHEN THEY MADE THE LOAN THEN GOT BILLIONS OF TAX DOLLARS FROM THE GOVERNMENT AT THE FIRST SIGN OF TROUBLE! Thank goodness my wife pitched a fit when I was about to start draining our oldest child’s college savings too. It was all we had left and that money came in very handy for actual necessities like buying food so my family could eat. Damn, I just got pretty emotional thinking about those awful days. There I was: the man of the house, college educated, U.S. Marine Corps veteran, fighting back tears when I had to explain to my 9 year old daughter why we were eating cheerios for dinner again.
That night (after the cheerios conversation) I made a decision to fight like hell to get rid of my mortgage and, if at all possible, keep my home. I immediately felt better because I was back on the offensive rather than just waiting for someone else to decide my fate. First, I got out a piece of paper (I still have it!) and wrote down the brutal facts of my situation and, more importantly, I wrote down exactly how I wanted everything to turn out. I did a lot of soul searching and decided that Bank of America was going to lose a lot more money foreclosing on my house than they would if they approved a short sale but the big bank bureaucracy had too many moving parts to do anything that made sense. I had to figure out a solution that fit within their myriad of policies and procedures AND got me where I wanted to be. The next day I began studying my enemy.
For me, the actual short sale process took about ten months. Trust me, this is a good thing. My mortgage payments were just over $4,000 per month but I went ten months without paying a dime. Bank of America even paid my homeowners insurance and property taxes to the tune of about seven grand. Yes, it was scary at times but I kept reminding myself that logic would prevail in the end and we’d all be better off if I succeeded. The last few weeks were a blur and we nearly had a DISASTER just a week before closing but WE DID IT!! Today I am writing this from my house and instead of owing $580,000 and trying to come up with over $4,000 every month just to cover the interest on the loan I’m paying well under $2,000 a month and I’ll own it free and clear in less than 15 years. Or, I could sell it tomorrow and pocket almost ONE HUNDRED THOUSAND DOLLARS!
I know what you’re thinking: Was it really worth all of the trouble? Let’s do the math:
I bought the house for $580,000 by taking out a first mortgage for $470,000 and a second mortgage for $110,000. My interest rate worked out to about 7% (weighted average of the two loans) and I had the option of paying the loan off over 30 years or just paying interest. Obviously if you only pay interest you NEVER OWN THE HOUSE. So for illustration, let’s look at paying the loan off over 30 years.
Here is the amortization table for the original two combined loans:
And here is the amortization table for my loan after the short sale:
Okay, I don’t have a degree in finance either so let me explain what these numbers mean. Before the short sale, I was paying interest on FIVE HUNDRED EIGHTY THOUSAND DOLLARS. In the first year alone I paid Bank of America FORTY SIXTHOUSAND DOLLARS but my loan balance only went down $5,891. They kept the other $40,413 in interest for lending me money that they took from other suckers who went into a lot of debt. If I had been able to keep that up for thirty years I would have finally owned the house but I would have forked over $1,389,150 (yup, that’s almost one and a half million dollars) for the house that I bought for $580,000 and they would have made $809,150 in interest.
Instead, I was able to get Bank of America to take $200,000 in the short sale. Let’s compare the two:
I saved a million bucks and 15 years of my life.
If you don’t think it’s worth your time to try it, please email me and let me know what you are doing with your time and money that is so much more lucrative. I’d love to find another way to put an extra million bucks in my pocket!
Seriously though, this is probably a once in a lifetime opportunity for most of us to get WAY ahead. I know my parents made mortgage payments for over 40 years and would still be in debt if my dad hadn’t decided to sell their house in 2004 and move into a much smaller house way out in the country. That plan might work for empty-nesters at the height of the housing market but isn’t very realistic in a bad market or for people who still need to work in town and feed a family.
Now for the disclaimer: I’m not a lawyer and I don’t even play one on TV. I paid a lawyer for advice during the short sale process and I’d encourage you to do the same thing. Since I couldn’t afford to just pay a lawyer to handle everything (and even if I could that would have made the bank wonder why I could pay a lawyer but not my mortgage!) I had to do a lot of research. I spent hundreds of hours on the phone, in the courthouse records room and reading everything I could find on the internet about short sales. By the way, a lot of it was JUST PLAIN WRONG! Still, you need to make your own decisions about the best way to handle your own unique situation. I’m just sharing my story and a LOT of details about how I took on the biggest bank in the land and got exactly what I wanted.
Keep your Chin Up!
You can do it. I know how stressful it is to feel like the entire world is crumbling around you and you are going to lose everything you’ve worked so hard for. Just remember that you are the only one who cares enough to fix the problem. You are the only person who can make it happen. It will take a lot of hard work and perseverance but it is well worth the effort. Just take a moment to imagine how it will feel when the bank tells you they have approved your short sale! Imagine what you will be able to do when you don’t have to spend every minute worrying about paying your bills. Imagine owning your house FREE AND CLEAR in a reasonable amount of time. I feel like I got my life back- you will too.
[GET STARTED NOW ON YOUR OWN SHORT SALE SUCCESS STORY!](http://1.gventures.pay.clickbank.net/)
Click [HERE](http://1.gventures.pay.clickbank.net/) to get instant access to this priceless information. Even if your mortgage isn’t serviced by Bank of America, chances are pretty good they have their hand in it in some form or fashion. Our loan didn’t start with Bank of America but they ended up with it after the federal government gave them billions of dollars and let them buy out most of their competition. This essential guide to getting a short sale will help anyone who owes more money than their house is worth.
You have absolutely nothing to lose.
Lots of companies have popped up offering ‘home loan modifications’ but don’t be fooled: THEY CANNOT DO ANYTHING YOU CAN’T DO FOR YOURSELF as long as you have the right information. Don’t pay someone else thousands of dollars to do what you can do yourself with a little knowledge and effort. [I’m offering my first-hand account of how I got Bank of America to approve my Short Sale for only $29.95](http://1.gventures.pay.clickbank.net/). If you are not completely satisfied with the book, just return it within 60 days for a full refund.
What's Included In My Book?
Learn about the [two different types of short sales](http://1.gventures.pay.clickbank.net/) and how to avoid a fifty-fifty chance of getting your Short Sale rejected.
Find out if you are[ eligible for a short sale](http://1.gventures.pay.clickbank.net/). If not, I’ll give you a few tips on how to stay in your home for free as long as possible and negotiate a graceful exit in the end.
Learn how the short sale process REALLY works, [step by step](http://1.gventures.pay.clickbank.net/).
I’ll teach you how to get bank employees to tell you exactly what you need to know including all of the information they are DESPERATELY trying to keep you from getting. I’ll even give you a way to get the [direct phone number](http://1.gventures.pay.clickbank.net/) for the actual person who is managing your short sale file. It's easy once you know the secret.
Learn to calculate the bank’s decision point- [the least amount of money](http://1.gventures.pay.clickbank.net/) they will take and walk away forever.
See how you can get Bank of America to lower their decision point price by getting some[ inside information](http://1.gventures.pay.clickbank.net/) and a specific type of appraisal.
Make sure you are set up for a smooth closing and manage those inevitable last minute surprises. If you do everything right before closing day it will be a breeze. If you don’t, [THE WHOLE DEAL COULD FALL APART AT THE CLOSING TABLE!](http://1.gventures.pay.clickbank.net/)
Keep living in your house AFTER the short sale. Learn how I structured a deal that let me keep my house AND put me [A MILLION DOLLARS AHEAD!](http://1.gventures.pay.clickbank.net/)
[ Click HERE to order your INSTANT DOWNLOAD eBOOK and you will be on the road to your own Short Sale Success Story in less than 60 seconds!](http://1.gventures.pay.clickbank.net/)
[On Sale Today For Only $39.95 $29.95](http://1.gventures.pay.clickbank.net/)
[ ](http://1.gventures.pay.clickbank.net/)
Instant Access in Digital Format
This eBook will be provided as an Adobe Reader (PDF) file, which is an application that is free and already installed on most computers. This eBook will work on all types of computers (PC or Mac, and with ALL operating systems).
Your
eBook will be available for INSTANT download after secure payment with ClickBank, so you will be reading this valuable information IMMEDIATELY!
We accept all major credit cards and PayPal.
[ ](http://1.gventures.pay.clickbank.net/)
Questions? [CONTACT US (Click Here)](mailto:info@howtogetashortsale.com)
© 2010 All Rights Reserved
www.howtogetashortsale.com
