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Loudoun to Winchester VA – In my opinion, loan mods are very tough to negotiate with large lenders like Bank of America, Wells Fargo, JP Morgan Chase, or SunTrust. The reason is because you are treated like a number.

In addition, in most cases the lender doesn’t own your loan. Someone else does. So when they negotiate with you, it is simply to go thru the motions.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

No, common sense does not apply in these situations! The good news is that common sense does apply when you are dealing with a small, local lender.

I remember hearing a credit union in my town run ads about how they didn’t treat you like a number.

The ads said something like, “When you bank with X Credit Union you aren’t a number. We talk to you on a first name basis.” I didn’t see the benefit then, but I do see it now.

I talked with a recent homeowner about how he negotiated a loan modification with a small, local lender. At first the lender played total hardball with him.

“Either pay us in full or we will foreclose”, they told him. They were firm on being paid in full. The said if he didn’t pay they would file foreclosure right away.

He was pretty and paid in full for a while. Six months later he grew tired of being dead broke (which is how his finances were after giving his lender most of his earnings every month.)

So he decided to “play chicken” with his lender. He stopped paying. His lender continued to play hardball. Finally, he consulted a bankruptcy attorney and had them take over the negotiations with his lender.

The lender backed off. They total changed their tune. No longer were they playing hardball. Now, they wanted to “work something out with him.”

Wow! What a difference that one simple thing made. Notice he didn’t have to file bankruptcy or anything.

But, the threat caused them to change their tune. In my next blog post I’ll explain why. 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 cindygreenya@gmail.com. I will contact you for a free 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 703-795-5904

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Loudoun to Winchester 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, Cindy Greenya.

Cindy is a Real Estate Agent at EXIT Realty Talbot & Company. Loudoun to Winchester Short Sales Realtor:

Phone: 703-795-5904. cindygreenya@gmail.com.

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View My homes for sale at www.Loudoun2Winchester.com.