Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

“My name is Lee Honish and I am the former head-loss mitigator for IndyMac Bank’s HELOC division. For the past 5 years I have trained over 50,000 real estate agents, conducted over 600 seminars and I have been viewed more than a million times on the World Wide Web. I am proud to say that Kristin Duncan is one of the BEST homeowner advocates I have had the opportunity to train over the past 5 years. She exemplifies my vision for what a Certified Default Advocate can and should be. Kristin will give you unbiased and honest information. Kristin will help you find the right course for your home to avoid foreclosure and restore you to a normal life.”

Lee Honish, Advocate, Author and Consultant www.honish.com




What is a Short Sale?

The term “Short Sale” is used in the real estate world to describe when there is more debt owing against the property than the actual property is worth. The owner can’t sell or refinance the property unless the mortgage or lien holders agree to accept a payment that is less-or-SHORT-of the amount the owner actually owes. A short sale is when a borrower who is underwater on their property has no other way but to short the lender(s) the payoffs in order sell the property.


Why do a short sale?

The answer is simple.  Borrowers do a short sale to avoid having a foreclosure, which can be very damaging on one’s credit.  A short sale is also another way for borrowers to understand the outcome of the situation and to lessen the amount of late payments in a lengthy stressful foreclosure process.


The Foreclosure Timeline

Knowing your states foreclosure timeline is essential.  Most borrowers have no idea how long they can be in their property until they will get evicted. Some think its one-month after first missed payment while others think it’s much longer.  The truth is it is depends on what state you are located in since foreclosure law varies state by state.  You must first know whether your state is judicial or non judicial.



It is important to understand what NOD (Notice of Default) means.  Notice of default is the official notice that foreclosure has been filed and being pursued.  A borrower should know if an NOD has been filed because they will have been served in person or through some certified mailing.  They can also expect to get a thick stack of legal documents, which may look very threatening.


In some states the process may be as quick as a couple months. It is super important your real estate professional truly understands your state’s timeline since that is really the timeline you are up against.  Depending on your situation you will now know how fast or slow you need to move to beat the foreclosure sale date.


The Different Types of Liens

When facing foreclosure or a short sale, it is so important to distinguish the different types of liens on your property. There is a lot of miscommunication and bad advice out there on this subject. It is ESSENTIAL that your real estate professional understand this aspect of the transaction as it may make the difference between walking away with no financial liabilities and having recourse against you.


  • 1st Mortgage: This is the primary mortgage or senior lien on the property.  As long as this lien is being “shorted” the bank who holds this will control the deal in terms of how much is paid out in total commissions, payout’s for title/attorney fees, and how much will be allowed to payout the 2nd mortgage or junior lien holders. They pretty much run the show and all other subordinate liens are at their mercy. Most first liens will treat the deal in the same manner in regards to any deficiencies. They will most likely issue the seller a 1099.  The first lien position or senior lien holder is typically the foreclosing lien.  This is also normally the larger dollar amount.  Seniority is granted by the time it was recorded.  In a deficiency judgment state they may come after the borrower for any deficiency.
  • 2nd Mortgage:  True 2nd mortgages were commonly used during the previous boom years as a creative financing tool to allow buyers to avoid paying PMI. They were highly prevalent during the subprime boom.  About 1-2 years ago you would see more of these types of loans attached to the property but in the current short sale market you will see more HELOC’s (Home Equity Line Of Credit). If a property goes into foreclosure the 2nd mortgage is wiped out and the 2nd lender will receive nothing.  2nd mortgages typically settle for $3000 to $5000 per deal or $0.01 to $0.05 cents on the dollar. Remember, the loan in 1st lien position will generally only allow $1,000 to $5,000 so there is really nothing else they can do.  99% of 2nd mortgages are at a zero equity position in the property in this market.  These typically are not too difficult to deal with although you may run into a few snags here and there.  Bottom line is they understand their position in the foreclosure process and that they will be wiped out at foreclosure, therefore, they will take what they can get in most cases.

    Please note that while the chances are highly unlikely that a true 2nd lien can come after a borrower after foreclosure sale, they have every right to as long as the borrower is in a recourse state. If they were to follow through on this they would technically have to sue the borrower.  Truthfully, banks in these positions generally are not going to throw good money after bad money by chasing someone down that will only file bankruptcy if they were pursued. You can expect the vast majority of lenders in this position to send the seller a 1099. It is rare to see this type of lien pursue the deficiency, but they have every right to in a recourse state.


  • HELOC, Home Equity Line of Credit:  This is more like a credit card and needs to be negotiated for a settlement in order for the client to get a full release from this debt.  Unlike a true 2nd mortgage, if a foreclosure were to take place on the seller’s property, the bank/lender who issued the HELOC still maintains the rights to collect for the debt owed even after foreclosure, whereas, the true 2nd mortgage is completely wiped out at foreclosure. Their lien on the title of the property will be gone, but their rights to collect on the deficiency will not.  The main difference is HELOC debt is a collectible debt after foreclosure sale.   There are many stories of borrower’s attorneys advising to walk away and let the property foreclose.  In this case, not only do those borrowers have a foreclosure on their credit, but they also have the full amount owed on the HELOC as a collectible balance.   HELOC’s right now are generally getting settled for about $0.10 to $0.20 on the dollar.  Smaller local banks will demand more, therefore, use this as a guideline. A true 2nd lien can sue for the difference but will rarely do so. A HELOC doesn’t have to sue for the difference. Their rights are already retained due to the characteristics of the loan.  This is an important detail that you must be familiar with.  Your clients need to be made aware of the consequences of the HELOC if the property were to go into foreclosure. The difference is mainly for a true 2nd to come after you they have to go through the hassle of suing someone, whereas, a HELOC’s right never go away.  Banks will typically sell this right to some collection company which will be much more difficult to deal with.


Where do you start?

Believe it or not a short sale is conducted like a typical real estate transaction. It is your agent’s job to bring in a purchaser for your home through aggressive and traditional marketing. It is once you receive an offer, where the short sale process begins. However, before the process begins, it is essential you and your specialist are ready to go which is why the following forms must be completed.  The following documents outline what is needed for a short sale package.  No lender will begin the process of a short sale without a full package being submitted into the short selling lenders.


Short Sale Documents Defined

  • Authorization Letter: This is a letter that allows your default specialist to speak to the lien holder on your behalf. Without it we cannot communicate with your lien holder.
  • Payoff Request: This document allows us to order your current payoff amount. This is essential to us so we know how to renegotiate your loan.


  • Hardship Letter: This is your reasoning and explanation to the bank. This is where you state why you are in the situation you are in. For example: job loss, medical, falling real estate prices, death, divorce, etc.


  • Pay Stubs (2 most recent): This is so the lien holder can see an accurate accounting of your monthly income


  • Bank Statements (2 months most recent): The bank does not care if you make money, but they do want to confirm that your deposits correspond with your paycheck stubs and that the money spent each month is substantiated with your financial worksheet.


  • Federal Tax Returns: We will only need the first two pages. The lien holder is only interested in the bottom line.


  • Financial Worksheet: This is the document where you paint out your monthly financial picture for the lien holder


  • Do Not Call Form: This gives written notice to lien holders and more importantly stops your phone from ringing.


  •  Exclusive Listing Agreement: This shows that you are actively trying to sell the property and do something about your situation.


  • Real Estate Purchase Contract: Once you have an offer your lien holder will need to verify there is really an offer to purchase.


  •  Estimated HUD: This will show an estimation of what the bank will net after the sale.


  •  Loan approval for the buyer: Your lien holder will want a full loan approval to the new purchaser. They need to make sure you have a ready, willing, and able buyer.


Stage I

In the first 30 days your real estate professional should make sure once a full short sale package is sent into the lender(s), a BPO (broker price opinion) is ordered.  A BPO is like an appraisal of a property submitted by a Realtor.  It is this value of the property that will eventually determine the end sales price, as everything will revolve around this number only.  Different lenders have different guidelines on short sales, but in general, the value submitted as the BPO will be a key factor in final sales price. Expect the initial offer to get countered by the lender. The second thing your real estate professional needs to do is make sure the file is assigned to a negotiator on the banks end who will process the file on that end.


Stage II

Stage II of the short sale process consists of receiving the value of the BPO and working with all additional liens on title.  It is important during this stage that your real estate professional obtain short sale approval letters with favorable terms for you.  Remember it is only an offer of mortgage assistance.  Your professional should have exit strategies planned should the initial offer not work out.  During this stage your agent should be finding the happy medium between the lender, buyer, and seller in terms of price of the subject property.


Stage III

Stage III you should receive the pay off demand letter or the short sale approval(s) from your lender.  Your real estate professional should make sure your buyer is willing ready and able to close on the property at this point contingency free.  Short sale approvals typically only have 30 days to close or you may have to start over which is why timing, exit strategies, and coordination with all lien holders, buyer, and seller are so important.  Please note these are only terms offered to you and you have the right to accept or reject the lenders offer.


Understanding your relationship with your lender or servicer.

As the market has changed, so should the mentality of a short sale

specialist. The most important concept to take into consideration is the agent’s fiduciary duty to the seller on a short sale and that is to liquidate the property and move on. An agent has no duty to the bank on the short sale, as the bank is not the agents’ client. Their duty to their seller should be to get them out of the property with the least amount of financial damage as possible. Agents often confuse short sales with REO’s (bank foreclosures or real estate owned) and they think the lender must see all offers. They also think the bank is the owner of the property. The seller is the owner of record all the way until the bank repossesses it at foreclosure sale or a judge deeds the property back to the bank. Therefore, they have every constitutional right as the property owner and seller. Only the Seller can accept, reject, and entertain all offers.  A short sale is only an approved payoff amount the bank is going to accept or deny to release their lien interest and, preferably, settle the debt that is owed to them by the Seller. It is also against the seller’s interest to submit every offer you get on the property. I hate when agents do this and I see it all the time. It’s completely ridiculous and I want to ask them whom they work for. Please tell me how this is in the seller’s best interest. Your job is to help your sellers get out of this situation, not the opposite.

The seller owns the property. The bank owns the note attached to the title of the property. The Realtor works for the seller, not the bank.  Only the seller can have the final say on the short sale.  According to Realty Trac as of September 2011, Bank foreclosures sell for 39.92% under market value while short sales sell for 20.51% under market value.  The mere fact that the seller is participating in a short sale is a way to mitigate the banks loss so who do you think is wearing the pants?


Pricing the Property

During stage I of the short sale process the lender will determine the eventual sales price on your property by basing that value off of the BPO or appraisal they do.  Since you will not be receiving funds from the sale, do not be so concerned with the price, but more so with the terms of your release.  It is rare that you will have financial liabilities associated with the short sale, but the terms are more important to you. My best advice is to lose any emotional attachment you have with the property.


Deficiency Judgment

What many people tend to ask next is what happens to all the money that is never paid back to the bank? The result of a lender taking less money than what they are owed is called a deficiency. There are several ways a lender can handle a deficiency amount. Some lenders may enter into a deficiency judgment against you for their loss. Here is what can happen after a short sale is conducted.


  • Forgiveness - A foreclosure may result in cancellation of debt income depending on whether the bank pursues a deficiency judgment.  If the bank chooses not to pursue a deficiency judgment, or pursues the judgment unsuccessfully, the borrower may incur income tax liability for debt forgiveness.


  • 1099 Tax Form – The lender may choose to tax the borrower on the deficiency amount as a capital gains tax. They basically consider their loss as your gain, therefore making it taxable. In many circumstances the client involved in the short sale is in financial hardship so may be able to claim insolvency. This can eliminate this obligation, but you should consult with a good attorney or tax professional.


  • Promissory Note – A lender can issue the borrower a promissory note which can pay back the amount owed over an extended period of time say 15-20 years in the form of monthly payments.


  • Cash Contribution – Sometimes the lender may just ask for cash at the time of closing ranging anywhere from $200-$5,000.

One point to remember is these are remedies for the lender to cure their loss. Since each situation is different, results will vary. The most important thing to remember is none of these listed above are any worse than having a foreclosure on your credit.


The Mortgage Forgiveness Act of 2007

When your real estate professional negotiates your short sale correctly you can expect to be given debt forgiveness in conjunction with receiving a 1099-C (cancellation of debt).  The legislation that is in effect right now can best be summarized as follows:


Any borrower who receives a 1099 resulting from short sale or foreclosure are completely forgiven from any 1099 tax liabilities if they…

  • Reside in the residence as their primary
  • Can show they are insolvent if 2nd home or investment property.


This is the most common way the deficiency amount is resolved.  You should always confirm this information with your CPA or and attorney.


Your Credit Score

When you foreclose on a home your credit will be altered for about 5+ years, to say the least. However, when you do a short sale your credit is also affected, but for a much shorter time period and less damage is done. The truth is there is no concrete answer as to how many points it will affect your score.  Every person has his or her own FICO and each individual’s score will vary.  What I can tell you is the late payments are typically what have the major affect on a borrowers credit.  Most people are usually able to qualify for a new loan and buy a new home within 2 years after a short sale vs. the 5+ years if you were to go into foreclosure.  Since everyone is different its best to consult with a credit repair-person or your real estate professional in more detail.



Why don’t I file Bankruptcy?

Short Sale vs. Bankruptcy – When faced with foreclosure many people tend to turn to bankruptcy as an option of solving their problem. Now there is a large difference many of the “professionals” fail to tell you. Filing for bankruptcy will consolidate your debt and can wipe out your liabilities, but it will not save you from having a FORECLOSURE put onto your credit report. Instead, now you will have both a bankruptcy and a foreclosure on your credit. If you plan on eventually turning back your property you WILL STILL HAVE A FORECLOSURE ON YOUR CREDIT REPORT. Trying to conduct a short sale while in bankruptcy can hold up the process, but it is not impossible. It will just take some more paperwork. My best advice is to consult with a great bankruptcy attorney prior to making any decision should you have additional debt you are unable to control besides your property. One key point to keep in mind is if your home is the only debt that is creating an uncontrollable situation for you then a short sale option is most likely your best bet vs. a bankruptcy.  If you have other uncontrollable debt then a bankruptcy might also be needed in addition to a short sale. You should consult with a bankruptcy attorney should this be the case.


Why will the bank “forgive” my debt?

Simple, the bank does not want to go into foreclosure. It takes time and costs money. Conducting a short sale is really like a pre-foreclosure; you are just securing a buyer prior to your sale date.  Banks usually find themselves losing more money if it goes into foreclosure and lenders do not want to tally up another foreclosure on their books. They understand their loss, as loan defaults are part of the business they are in. As in any situation they are trying to cut their losses and move on.

What do I do after a short sale?

After your short sale, the stress of your housing payment is extinguished and it’s time to get back on track to restoring your credit. Many people will rent for a while until their credit is fixed and then it’s time to get back into another house. With the right team of people working for you, you will be in a new house before you know it.

How much money does this cost YOU?

It costs you nothing! When conducting a short sale, or any real estate transaction, you always must deliver free and clear title to the new purchaser of your property. While we are conducting a short sale with a lender, all costs are taken into account and paid for by the lender from the purchase price of the new buyer bringing your loan current. Part of the amount you are shorting the lender includes all the closing costs typically associated with selling a home. These costs are viewed as a wash for any lender because if they took the property back they would have to pay them anyway since the property would have to be free and clear when resold. These include property taxes, title costs, attorney fees, back assessments, and even commissions, which is how we are paid.


Alternatives to Foreclosure:


  • Do Nothing

If a homeowner does nothing, they most likely will lose their home at foreclosure auction. Loan applications generally ask if the applicant has ever been foreclosed upon.  Credit reports also disclose this damaging information.  Not the best option.


  • Payoff Request

Completely paying off the entire loan amount plus any default amount and fees.  Usually this is accomplished through a refinance of the debt. New debt is normally at a higher interest rate and there may be a prepayment penalty because of the recent default. With this option, there should be equity in the home.


  • Reinstatement

Paying the entire default amount plus interest, attorney fees, late fees, taxes, missed payments and fees.


  • Loan Modification

Utilizing the existing mortgage company to refinance the debt or extend the terms of the loan. This may allow the homeowner to catch up at a more affordable level.  To qualify, you must prove to the lender you have fixed the problem that caused the late payment.


  • Forbearance

Lender may be able to arrange a repayment plan based on the homeowner’s    financial situation. The lender may even be able to provide a temporary payment reduction or suspension of payments. Information will be required from the lender to show that you are able to meet the new payment plan requirements.


  • Partial Claim

A loan from the lender for a 2nd loan to include back payments, costs, and fees.


  • Deed in Lieu of Foreclosure

Give the property back to the bank instead of the bank foreclosing. Banks generally require the home be well maintained, all mortgage payment and taxes must be current. Most loan applications ask if this has ever happened.


  • Bankruptcy

This option can liquidate debt and/or allow more time. I can refer you to a qualified bankruptcy attorney.

-Chapter 7   (Liquidation) To completely settle personal debt.

-Chapter 13 (Wage Earner Plan) Payments are made toward a plan to   pay off debts in 3-5 years.

-Chapter 11 (Business Reorganization) A business debt solution.


  • Sale

If the property has equity, (money left over after all loans and monetary encumbrances are paid) the homeowner may sell the home without lender approval through a conventional home sale. In this case, the homeowner will get cash from the sale. On the other hand, a Short Sale, also known as a pre-foreclosure sale, can be negotiated with your lender by your Real Estate Professional if what is owed is MORE than the property’s value.  This is what we specialize in!

In Conclusion

I hope that this information will help you better understand the short sale process.  It is important you discuss your particular situation with your real estate professional since all situations differ.  Based on your current liens and timing of your short sale I can help you get into more detail but would need more information.

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CELL:  #562-480-1465    EMAIL ADDRESS:  Kristin@duncansrealestateservices.com

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Loan Modification Guide | Insider Secrets


How To Get Your Payment Reduced, Keep Your Home and Enjoy Life.


Read This Guide If You Want To:


Stop Worrying whether or not you will be able to keep your home.
Stop Getting beat up, threatened, and abused by your lender.




Table of Contents


Common Scams To Avoid ………………………………………………………………………………………… 2

Is a Loan Mod ethical? We think so and explain why …………………………………………………….. 4

How to determine if you qualify for a Loan Modification ……………………………………………….. 6

HAMP Eligibility Guidelines ………………………………………………………………………………………. 8

The myth that lenders don’t want properties back ……………………………………………………….. 9

How to prepare yourself for the negotiations with your lender …………………………………….. 10

Preparing your loan mod application ……………………………………………………………………….. 16

Submitting the package to your lender …………………………………………………………………….. 19

What happens if your request for loan mod is rejected or your mod is temporary? ………….. 19

How to stop harassing debt collector phone calls ……………………………………………………….. 20

Frequently Asked Questions on FHA Loan Modifications ……………………………………………… 23

Sample Hardship Letter …………………………………………………………………………………………. 25

About the Author ……………………………………………………………………………………………………………….. 26


Warning: Here are a Few Common Scams Homeowners in Distress Often Run Into.


Companies that charge money upfront to negotiate a loan modification for you. Call the state Attorney General and ask them if this is a problem. There is also plenty of information on the Department of Real Estate website – www.ca.dre.gov. Check it out. We know first-hand from homeowners who sent $1,000, $5,000, or even more of their hard earned money to these companies or attorneys in the hope that they can negotiate a loan modification for them. Their success rate has been so bad that many states have outlawed this practice. Be aware of scams that offer a money back return on your payment if they don’t get your loan modified. We have clients who have received temporary mods or mods that resulted in a higher payment but they were still required to pay the attorney under the contract they signed. The attorney’s and modification companies create the contracts that you are signing to work with them. Do you think they are going to create an agreement that is in your favor rather than theirs?
How to Stay Out of Jail. Here are a few tips you should follow to avoid going to jail. First, never ever submit false or tampered paperwork to your lender. This can get you in big trouble. If your lender decides to come after you, they can drag that paperwork right into criminal court. Lender fraud is real and they are on the lookout for it. Be prepared to defend anything you send to your lender. If they do drag you into criminal court, you can come in and say “Your Honor, here’s what happened. This is real stuff, I did not lie here.”
If you have a stated income loan, then never send them your tax returns. You may have written what you thought you were making onto your loan application. Things looked good. The economy was strong. The housing market was shooting up. Then, at the end of the year your tax returns actually showed a lower income. Your lender can use that against you. Again, if you got a stated income loan, do not send them your tax returns.

You don’t want them dragging you into criminal court. They will say “Oh, you got your loan in 2007, and said you were making a $200,000 a year. Your 2007 tax return says you only made $65,000. You lied to us, so you’re going to jail.” So you’ve got to be prepared to never submit anything that shows substantial discrepancies or that shows a different income to what you stated whenever you were getting your loan.

Make sure your bank can’t take money directly from your account. Many lenders will add a clause to your contract. This clause states that if you have a bank account with them, and you are behind on payments, then they have the right to automatically grab that money. It would take hours of time to read thru your entire mortgage and contract to see if this clause is there.
I recommend that if you happen to have your bank account with your lender to simply move it somewhere else. It doesn’t matter if your loan is with the biggest bank in the country. They aren’t as stupid as we think. They may not always check to see if they have a bank account with them, but they often will. We can’t run the risk of it happening.

Do not make a partial payment to your lender unless you have a written agreement. We have seen many homeowners send a partial payment to the lender or make payments on a temporary loan modification or “trial loan modification”. They were told that the lender would stop the foreclosure. The lender simply keeps that money and continues with the foreclosure. The homeowners lose that money and they lose their home.
One of our bay area clients made payments on her “trial loan modification” for 10 months at the new payment amount. During this time her lender filed the legal foreclosure paperwork with the county. When she asked about it they told her not to worry that it was just standard procedure and everything was fine. At the end of 10 months of on time payments at her new payment amount her lender told her that she had to immediately pay all of the past due amounts or they would foreclose on her within 2 weeks. This is real. She came to us and we stopped the foreclosure sale and helped her through a short sale. She is now happily living in a larger nicer home at a lower payment and she didn’t have to go through foreclosure or have that mark on her credit history.

So always get a written agreement with your lender before you send them any money. The only loan modification that you can be confident is permanent is called a “recast”. Unless you hear these words from your lender be very cautious about sending them money regardless of what you are being told.


Chapter 1: Is A Loan Modification Ethical?

I think they are. A lot of people say that if you don’t pay your mortgage or you got behind, then you are a flake and you don’t keep your promises. I don’t agree with that.

Are you a flake to want a better deal or a more reasonable house payment? Is it your fault that house prices shot through the roof over the last three to five years? If you wanted to buy a house, if you wanted the American Dream of home ownership, then you were automatically required to pay way more money for a home than it’s worth today. Is it your fault that house prices plummeted?

And here’s the question: Does it really make sense long term to pay money on a house that’s underwater? If you owe substantially more than your house is worth, you need to consider would it be better to just move on and find a place to rent. Many people are able to find a comparable or nicer home to rent for less money.

One couple was paying $4,200 a month. They tried to get a loan mod. The lender increased their payments up to $4,500 a month. They paid a company $3500 to help them get a higher payment. What kind of a loan mod is that?! They rented a comparable home that even had a pool for the kids. What did they pay? Only $2,700 a month rent. No taxes, no insurance, and no more stress.

Stress-free people do a better job at their jobs and they work harder and they have more time and energy for their families. They’re able to go to work and not worry about other things. They don’t have to leave work to go home and handle problems that come up. Most people just don’t understand the stress and anxiety that comes from not being able to pay your mortgage payment.

Also, if you’re able to get a more reasonable payment on your mortgage and keep your home, then you’re also keeping up in your neighborhood. These banks are doing a horrible job with foreclosures. They don’t keep up on the homes or mow the yards. Every single home that’s foreclosed on just means more blight in the neighborhood. It drives house prices down further. Again, the loan modification is the better option.
Chapter 2: Do you qualify for a loan modification?

Here are the steps for how to figure out if you qualify for Loan Modification:

First off, can you afford a monthly payment?
If you can afford a monthly payment, what is your wished for payment? Is it a thousand dollars? A three-thousand dollars? Or more? Come up with a number for your “here is what we can afford for a monthly payment.”
Now, take that number and add it with all your other bills. Your car payment, your insurance payment, monthly home-owner’s association fee, property taxes (to get a monthly amount, take your annual payment and divide by 12. That is your monthly payment.), and all your other costs. Electric payment, car insurance, home insurance, phone bill, cell phone bill, and all the other bills.
Take all those other bills that come up every single month and add it to the mortgage payment. Now you have your total monthly bills. Take that number and double it.
Are you making that much money every month? Because if you are making that much money, the more likely you can afford your “wished for house payment.”
If you are not, then you need to look at “okay, we’re going to have to negotiate harder for a lower payment.” And in fact, in the “Making Home Affordable” program, they say in one of their guidelines that your total bills cannot be more than fifty five percent of your income. If it is more than fifty five percent, we know it’s going to be hard for you to afford that payment and keep your home.





The following eligibility guidelines are from the government program Home Affordable Modification Program:


The following mortgages are eligible for a modification under the Home Affordable Modification program (HAMP):

First-lien mortgages owned, guaranteed, or securitized by Freddie Mac that are single-family 1- to 4- unit primary residences, including condos, cooperatives, Single-Family Seller/Servicer Guide(Guide) – eligible manufactured homes, and our negotiated conforming jumbo mortgages.
FHA, VA, and RHS guaranteed mortgages are eligible, subject to the relevant agency guidelines.
Mortgages for properties that are abandoned, vacant, or condemned are not eligible.
Mortgages may be previously modified, but can only be modified once under HAMP.
Borrowers may be eligible for this program if they meet the following requirements:

Borrowers may be considered for a HAMP Trial Period if they are current or less than 60 days delinquent and determined to be in imminent default, or 60 days or more delinquent.
A borrower must have an affirmation of financial hardship.
Borrowers who may be in foreclosure, in pending litigation involving the mortgage, or who are in active bankruptcy.
Borrowers currently performing under another workout arrangement will be considered for a Home Affordable Modification if they request it.
Borrowers must currently have a monthly housing expense-to-income ratio greater than 31 percent of their verified gross monthly income.

Chapter 3: The Myth that banks don’t want properties back.

Repossessing property is part of the lending business. Lenders have been lending for years. They’ve been repossessing properties for years as well. They are prepared and if it does come down to it, they will foreclose on your house and sell it as a bank owned property. That’s just one of the things they’re willing to do.

They have entire departments that are designed to handle the foreclosures. They’re often called the “Liquidation Department”, or the “Foreclosure Department.” Once a bank forecloses on a house, these departments specialize in taking that property, putting it up for sale, and handling the transaction.

Now, there are a couple of other reasons why they often prefer to foreclose on a house versus doing a loan modification in some instances. Let’s say someone has two, three mortgages, or even other liens on the property. If the first mortgage forecloses, all of those other liens are gone. They don’t have to deal with them anymore.

That’s another reason why some people do a loan modification on their first only and don’t worry as much about the second. They try to settle with the second. That way, they have more money to pay off the first mortgage every month. Money that would be going to the second mortgage can instead be applied to the first.

In addition, a lot of lenders are actually servicers for a third-party investor. In fact, almost eighty percent of all loans are not even owned by the lender that you’re dealing with. So you might have a loan with ABC Bank. But in reality, most of the time that loan isn’t even owned by ABC Bank.

They’re just servicing it for a third party. It could be somebody on Wall Street, it could be the government, or it could be someone overseas. Who knows who owns it?

Here is another thing that’s interesting. What happens is the owner of the loan actually pays the servicer (the ABC Bank in this situation) more money when you’re in foreclosure. Yes, it’s true. The servicer actually makes more money when your loan is in foreclosure than when it is current.

They profit from you being in foreclosure. I know the system is a mess and it doesn’t appear that it will be getting any better any time soon. But that’s the reality we have to deal with.


Chapter 4: Here’s what you need to do to prepare yourself for the negotiations.

When you negotiate your loan mod you need to remember this. These banks are professional negotiators. They know the tricks. They know the tools to use against borrowers to suck as much money out of them as they can. Don’t kid yourself. They’re going to use every single tool in their tool chest to squeeze as high of a monthly payment out of you as is humanly possible. So before you start negotiations with the bank, you’ve got to be prepared. You can’t just walk into a gunfight with a knife. You’ve got to go prepared so you get yourself the best deal.

Step #1: Make sure that your lender can’t come and grab any money out of your bank account. Many lenders will add a clause to your contract. This clause states that if you have a bank account with them, and you are behind on payments, then they have the right to automatically grab that money. It would take hours of time to read thru your entire mortgage and contract to see if this clause is there.

I recommend that if you happen to have your bank account with your lender to simply move it somewhere else. It doesn’t matter if your loan is with the biggest bank in the country. They aren’t as stupid as we think. They may not always check to see if they have a bank account with them, but they often will. We can’t run the risk of it happening.

So, if you have your saving account or any accounts with the lender that has your mortgage, then I recommend closing those accounts and taking that money elsewhere. They can take that money without going to court. They simply sweep in and grab it.

Step #2: Start saving towards your good-faith down payment. On a loan modification, most of the time, they’re going to want between thirty and fifty percent of any payments behind. If you’re behind twelve payments of three thousand dollars, they’re going to want between $10,800 and $18,000 to accept the loan modification.

Step #3: Run your budget. See what you can realistically afford. Look at those numbers again. If we make X amount of dollars per month, we divide that by two. That money goes towards our bills. We have two hundred dollars towards the electric payment, we have a hundred dollars for our car insurance, our car payment is four hundred dollars, etc. We subtract those numbers from that fifty percent number. What we have remaining is what we can afford to pay the mortgage company.

Run your budget and see realistically what you think you’re going to be looking for as a payment. Decide on a payment before you even start your negotiations.

Step #3: Look at your options. The lender’s negotiator can sense weakness. They can sense when you’ll take any payment amount they tell you. Guess what happens next? You’re going to be stuck with a much higher monthly payment. Make sure that when you start negotiations, you know the alternatives.

You can’t negotiate unless you come from a position of power. All power in negotiation lies with the party who can simply walk-away from the negotiation. You must be able to say, “I can afford to walk away from the negotiating table if you push me to hard. If the bank pushes me to a monthly payment that I can’t afford, you know what? Forget about it. I’m not going to get pushed around. I’ll walk away and get a better deal for myself elsewhere.”

So look at all your options. Find what houses similar to yours are renting for. It might make sense to rent. Get rid of the unrealistic lender and overpriced mortgage. I’ve seen so many people stay in their house and accept a monthly payment much higher than what they could afford to rent that same house in that same neighborhood for each month. Meanwhile they burn through all of their savings and retirement money, only to lose the house later when they are completely out of all funds.

The other thing is that they are already strapped. In order to pay their mortgage, they are not putting food on the table. Any and all extra money is gone. Why? Their mortgage company was good at negotiating. Don’t let someone who’s good at negotiating push you around and take food off your table.

Step #4: Research where your lender stands. If you can afford to, then order an appraisal. Or, do your own appraisal. Go on to www.realtor.com and find out what houses in your neighborhood are selling for. Ask a realtor “Hey, what are houses in my area selling for?” or contact me and I will prepare a certified brokers opinion of value or BPO for you at no cost.

I’ve seen people who bought a house for $900,000 that is worth $620,000 today. If it’s only worth $620,000, then you shouldn’t be paying a mortgage payment based on a value of $900,000. You should be paying a mortgage payment based on a value of $620,000. Make sense?

Here’s how to find calculate you should be paying. Google “amortization calculator.” Type in what your home is currently worth. Enter the interest rate you were originally paying. Look at the example numbers below.

An $900,000 mortgage at 5% interest is a monthly payment of $4,831.39 (P+I – taxes and insurance/hoa fees not included).
A $620,000 mortgage at 5% interest is a monthly payment of $3328.29 (P+I – taxes and insurance/hoa fees not included).
It looks to me like they are overpaying by $1503.10 a month. Ouch!

Go do the calculations for your house. If your lender forecloses on your house, then it’s not necessarily going to sell for the market value. Most foreclosed houses often sell for 85% to 95% of the value today. Remember, knowledge is power.

When you have this information you have a much better negotiating position with your lender. You can say “Hey guys foreclose on my house. You’re going to lose your shirt.” It’s unrealistic to over-pay for a house when you can go and rent somewhere else. This enables you to get your life back on track with less stress and worry.

Step #5: Consider what you are going to do 5 years down the road when your loan modification expires. Unless your loan is “recast” you have a temporary loan mod. Most loan modifications only last for 2-5 years. After the time is up, your payment goes back to the original amount. You’ve already taken all the hit of getting behind on your payments and you’ve taken the whack to your credit.

Your credit rating’s been affected, and a lot of issues have come up from you getting behind on your payment. A couple years down the road, your payment may adjust back to what it was before. If you can’t afford the higher payment down the road, what are you going to do at that point?

Are you going to re-default and try to get another loan modification? Or, would it make sense today to just find a place to rent? Then you can buy a house at today’s lower prices, or maybe even wait a little bit?

Experts have been predicting the housing market is going to have a double dip and we are seeing that now.

You can rent until you’re sure that housing prices have bottomed out. Fannie Mae’s guidelines allow you to buy a house 2 years after a short sale. FHA will lend immediately after a short sale if the buyer was not in default at the time of the short sale. We have now completed numerous short sales without our clients missing a payment. We even have clients who defaulted on their payment, competed a successful short sale with us, went through credit repair and have now purchased a new home again (by the way – their home nearly twice as big as the first one and their payments are 1/3 of what they were paying!). That is just an option to consider. Consider if you want to take a temporary fix right now or if you want a permanent fix.

Step #5: Draw a line in the sand for your negotiations. Every good negotiator recommends that you decide on the maximum you will pay that before you start any negotiation. Decide on the maximum payment you will accept. You’ve got to decide “I will not agree to a payment more than X and a good faith down payment of more than X.”

If you don’t do this, then the bank will be able to push you around. You won’t be able to negotiation from a position of power. You won’t be able to say, “I’m going to walk if you don’t give me this deal.”

Unless you have a line in the sand, the bank will push you around. They’ll shove you into higher payment. Then you’ll be stuck with a payment that you think you can afford, but the reality is you can’t.

This is the biggest mistake I see homeowners make with their loan modifications. Loan modifications have gotten a bad rep in the media. Many people say “Oh, look. Everyone who gets loan modifications is re-defaulting.” That’s not the entire story. The reason they’re re-defaulting is this. The lenders are pushing so hard to get more money out of people. They’re squeezing every single dime they can out of the customers. Why do you think they are doing this? Because they are just there to collect as much as they can for as long as they can. They do not have your best interests at heart.

We know that negotiators at the bank get paid a bonus for how much money they squeeze out of you. So their job is to squeeze and squeeze hard. “You want a payment of $2500 a month? No, we’ll do $3200. Oh, you want a payment of $3000? No, we’ll do it for $3600”, they say. It’s insane.

Unless you have a line in the sand, you’ll get stuck with a higher payment. You’ll be more likely to re-default later on. If you already received one loan modification and it didn’t work, then how are you going to look the next time around?

The people at your lender might say “This guy already got a loan modification with us before, he re-defaulted on it six months down the road, and now he’s come back to us again? Should we even waste our time on this guy?”

That’s the problem. You’re going to look bad in the lenders’ eyes. So the next mod is probably going to be a lot tougher. Don’t just agree to their payment offer. You might think you can afford it. You’ll tell yourself, “Oh, maybe we won’t eat out anymore; maybe we won’t see any movies, etc.”

But, do you want to live your life miserable, broke, and poor for the rest of your life? Push for a payment that you can afford. Then you can afford to keep your house and live stress free.

You can go to work at your job knowing that your family is taken care of. You’ll have enough money for childcare, for movies, and for keeping your sanity. Your sanity is so important.

So getting a good loan modification and getting the payment you want is so important. You’ll have worked so hard to get to that point where they agree to lower your payment. Don’t let all that work go down the drain by accepting a payment you can’t afford.

After all, you’ve got to look out for yourself. The banks are looking out for themselves; the lawyers are looking out for themselves. You’ve got to look out for yourself too.
Chapter 5: Preparing your loan modification package to submit to your lender.

Here are some of the things you will need to submit.

Part #1: A Hardship Letter. There are lots of hardships letter forms you can find online. Many people recommend different ways to submit a hardship letter. The key is to put in specifics Here is an example. “The reason I got behind in my payments is my boss reduced all employees to forty hours a week.

Before, I was able to work about 50 hours a week. Now, I’m only about to work 40 hours a week. As a result, my income has been reduced by 20% and I can’t afford my house.” Or, you might say something like, “My company was previously paying me a base salary of $125,000 a year, now I’m only getting paid $80,000 a year.”

Or, “I got in a car accident and I collected disability insurance for a little while. I was previously making $1,000 a week. My insurance only paid out $720 a week. As a result, we were making less money and we couldn’t afford the house payment. Today, I am back on my feet. I’m back at my job making $1,000 a week.”

Was it a temporary blip that caused you to get behind in your payments and you can make the normal payments now? If so, then put that in bold. Put it in huge font. Make it the emphasis of that in your hardship letter. Also put the specifics in bold.

You want to make it look like the things that happened were a temporary blip. There are two simple things to demonstrate: Number one, you have money. Number two, you have enough income to be able to afford a reasonable house payment.

Part #2: An appraisal or statement of value. You’ve got to submit an appraisal or an opinion of value from a real estate agent. Send it into them. Say “Look guys, I bought the house for $750,000. Today, this realtor says it’s worth $480,000. Based on that, if you don’t take my loan modification, you’re going to lose $270,000 or more.”

When they see today’s value, they’re going to be much more willing to look at your loan modification and reduce your payment. And they can see their options and what will happen if they don’t work with you.

Part #3: Documentation of income – Pay Stubs. You’ve got to show them an income that’s not too high and not too low. If you show them too low of an income, they’re going know that you can’t afford your house payment.

They may think If we reduce his payment by $1500, he won’t even be able to afford it anyway so what’s the point in reducing it? Before, he thought he could pay $3,200 a month. He can’t even pay the $1700 a month that’s he’s asking for today. He’s not making enough money, based on our ratios, to be able to afford it.”

Here’s what happens if your income is too high. Let’s say your payment is only $2500 a month and you’re making $6,000, $7,000, or $8,000 a month. They will say “What’s up with this? This guy’s making a ton of money. Why are we going to reduce his payment?”

So you’ve got to make sure your income and your budget is in that middle range. Look at your recent payment history.

Maybe you can pull the most recent month. If it shows the right numbers use it. Or, pull from a longer period. Use the last three months or the last six months worth of income.

You want to be able to demonstrate that you’re making enough money to afford that payment, but not making so much money that they will charge you more.”

Part #4: Tax Returns. Many lenders are asking for the last three years of tax returns. Remember; don’t send in your tax returns if you have a stated income loan. Even if you were 100% honest at the time you got your loan, there still may be something left to interpretation that could come back and bite you.

Part #5: Bank Statements. They’re going to want three to six months of your bank statements,.

Part #6: Your Budget or Financial Statement. They are going to want this all broken down. Here is an excellent financial statement that many lenders use. Find it online at: http://www.freddiemac.com/sell/forms/pdf/1126.pdf
Chapter 6: Submitting to the lender.

After you have all of your paperwork put together, then you’re ready to submit it to your lender. Get your last mortgage statement and call the 800 number listed on it. Ask the person who answers the phone for the phone number for the loan modification department.

Write it down. Get the fax number as well. Ask that person if there are any special forms that they use. You will need to send those forms with your application.

Now try to get to the loan modification department. Ask them the same questions. You will discover that not everyone knows the correct answer. So once you have that information, put together your package and fax it in. Then, follow up twice a week.

First, confirm they received your paperwork. Then, follow up to see when a negotiator will be assigned. After that, go through the process with them. Be sure to check with that person at least once a week. You want to make sure they work on your file and aren’t distracted by everything else.

Be sure and keep notes of everything. Who you talk to, when you talked to them, and what they said. Track the date and time you talked to them. Always keep your cool. Never get mad and do not yell or swear at the negotiator on the phone. Once they agree to a modification they should send you an agreement. Do not send your good faith down payment until you have a signed and notarized agreement with everything laid out.
How to Stop Harassing Debt Collector Phone Calls

Don’t let debt collectors harass you into paying them money that you really should be paying your lender. Paying credit cards and other unsecured debts are your lowest priority. An unsecured debt is a debt where they can’t take away your car or house. A secured debt has something as collateral, such as your car, house, or anything else of value.

The most common unsecured debt is a credit card. When you stop paying them, they will call you nonstop. The reason is because they don’t have any other way to collect from you.

They can’t come get your car or take your house. So, they make up for that by blowing up your phone with harassing calls. In addition, they use deceptive tricks to get you to pay them. For example, there are Federal Laws that regulate what they can do or say.

They aren’t allowed to threaten to sue you, but then not follow thru and actually file suit. To get around this rule, they will use language that sounds legal, but isn’t.

In one situation, a debt collector in Buffalo, New York named their firm Hoffman, Weinberg & O’Brien to make it sound like they were a law firm. They would then leave messages on people’s answering machines.

They would say they were with the office of Hoffman, Weinberg & O’Brien and then say they may resort to future legal action. In addition, they would reference case number 8306042. If you didn’t know any better, you would think the case number was for an actual lawsuit against you. Isn’t that scary?

Most credit card accounts never sue (despite the constant threats.) Even when they do sue and get a judgment, they rarely ever attempt to garnish wages. A lot of judgments expire without getting paid. But, a lot of them get paid off when a person’s income increases, or that person sells a valuable asset such as a house.

Here is how to stop the harassing calls. Simply ask the person who calls for their fax number or mailing address. Then, fax or mail them a letter that requests them to stop calling you.

Here is some sample language you can put into the letter.

“Under my rights in the Fair Lending Law and the Fair Debt Collection Practices Act, I hereby request you stop any and all phone calls to me or any other person. At this time, I do not wish to speak with you, anyone at your company, or anyone representing you concerning this matter. Do not contact me by phone regarding this matter.

I demand that you stop calling my at home, on my cell phone, at work, at my relatives house, or any other location. Please make any future communication with me in writing. I am aware of my rights under section 805(b) 2 of the Fair Debt Collection Practices Act and am willing and able to exercise them. I am keeping track of all calls from your company and may consider recording calls.”

Make sure that when you mail the letter, you send it return receipt requested. If you have access to a fax machine, then fax it out. It’s much easier and stops the calls quickly. Under the Fair Debt Collection Practices Act, a creditor or collection agency that calls you after you request them to stop may be liable for statutory damages up to $1,000 plus any actual damages suffered, plus attorney fees.

Another tactic you can use to shut down any debt collector is to tell them you are recording the call. They back off when they realize they are on tape. You can buy an inexpensive call recorder at Radio Shack or Amazon.com. Just hook it up to your phone and you’re ready to go. In addition, you may want to keep a log of all phone calls from debt collectors. This can be useful if you ever have to go to court.

After reading the Fair Debt Collection Practices Act, in my opinion, the following acts are prohibited:

Violation #1: Call you before 8 AM or after 9PM.

Violation #2: Tell your relatives, family, or friends that you owe them money, or state that they are in the debt collection business when they contact any relatives, family, or friends.

Violation #3: Contact you after you send a written request that they cease further communication.

Violation #4: Contact you after you request they cease.

Violation #5: Threaten you with violence. In addition, they are prohibited from using obscene or profane language.

Violation #6: Publicize a list of people who owe them money.

Violation #7: Cause your phone to ring repeatedly or continuously to annoy you.

Violation #8: Call you without telling you who they are and why they are calling.

Violation #9: Attempt to mislead you. Or, they falsely represent the amount owed, that they are an attorney or law firm, that if you don’t pay then you’ll go to jail, state or claim that you committed a crime, or threaten to take an action that is not allowed legally.

Violation #10: Not informing you that any information obtained can be used for the purpose of collecting their debt.

Violation #11: Threaten to repossess any property that they legally don’t have the right to repossess. I remember hearing a lady calling a national talk show and saying that a debt collector had threatened to repossess her cat. What is this world coming to?!! That is definitely a violation! Cats, dogs, and children are not normally given as collateral against loans. This isn’t the Middle Ages here!

Violation #12: Threaten to sue you and then not follow thru with it. In addition, they are not allowed to threaten to do anything unless they actually intend to follow thru with it.

There are many good lawyers who specialize in helping consumers when a debt collector violates the act. Just Google “Fair Debt Collections Lawyer.” Many of them can help you at no cost out of pocket. They will take on your case on a contingency basis and get paid from the money they collect from the debt collector.
Frequently Asked Questions on FHA Loan Modification. (From HUD’s website)

Question 1: In utilizing the Loan Modification option to bring an asset current, can the mortgagee include all fees and corporate advances?

Answer: Mortgagee Letter 2008-21 states in part: Legal fees and related foreclosure costs for work actually completed and applicable to the current default episode may be capitalized into the modified principal balance.

Question 2: May a mortgagee perform an interior inspection of the property if they have concerns about property condition?

Answer: Yes, per Mortgagee Letter 2000-05, page 20, the mortgagee may conduct any review it deems necessary to verify that the property has no physical conditions which adversely impact the mortgagor’s continued ability to support the modified mortgage payment.

Question 3: Can a mortgagee include late charges in the Loan Modification?

Answer: Mortgagee Letter 2008-21 states that accrued late charges should be waived by the mortgagee at the time of the Loan Modification.

Question 4: When utilizing a Loan Modification option, can a mortgagee capitalize an escrow advance for Homeowner’s Association fees?

Answer: HUD Handbook 4330.1 REV-5, Paragraph 2-1, Section B, Escrow Obligations states: Mortgagees must also escrow funds for those items which, if not paid, would create liens on the property positioned ahead of the FHA-insured mortgage.

Question 5: Is there a new basis interest rate which mortgagees may assess when completing a Loan Modification?

Answer: Yes, Mortgagee Letter 2009-35 states that the Mortgagee shall reduce the Loan Modification note rate to the current Market Rate. Please refer to Mortgagee Letter 2009-35 for more details.

Question 6: Are mortgagees required to re-amortize the total amount due over 360 month period?

Answer: Yes, per Mortgagee Letter 2009-35, the Mortgagee must re-amortize the total unpaid amount due over a 360 month period from the due date of the first installment required under the modified mortgage.

Question 7: What date is utilized when determining the correct interest rate for a Loan Modification?

Answer: The date the Mortgagee approves the Loan Modification (all verification completed and servicing notes documented, reported to SFDMS) is the date that Mortgagees are to use in determining the interest rate.

Question 8: Will HUD subordinate a Partial Claim, should a mortgagor subsequently default and qualify for a Loan Modification?

Answer: If a mortgagor subsequently defaults and qualifies for a Loan Modification, HUD will subordinate the Partial Claim.

Question 9: Are mortgagees required to perform an escrow analysis when completing a Loan Modification?

Answer: Yes, mortgagees are to perform a retroactive escrow analysis at the time the Loan Modification to ensure that the delinquent payments being capitalized reflect the actual escrow requirements required for those months capitalized.

Question 10: Can a mortgagee qualify an asset for the Loan Modification option when the mortgagor is unemployed, the spouse is employed, but the spouse name is not on the mortgage?

Answer: Based upon this scenario, the mortgagee should conduct a financial review of the household income and expenses to determine if surplus income is sufficient to meet the new modified mortgage payment, but insufficient to pay back the arrearage. Once this process has been completed the mortgagee should then consult with their legal counsel to determine if the asset is eligible for a Loan Modification since the spouse is not on the original mortgage.


Example Hardship Letter:


Name: (Your Name)

Address: (Your Address)

Lender Name: (Your Lender)

Loan #: (your Loan #)

To Whom It May Concern:

I am writing this letter to explain my unfortunate set of circumstances that have caused us to become delinquent on our mortgage. We have done everything in our power to make ends meet but unfortunately we have fallen short and would like you to consider working with us to modify our loan. Our number one goal is to keep our home and we would really appreciate the opportunity to do that.

The main reason that caused us to be late is (insert reason here and don’t be too lengthy and long winded) Soon after being late and our income not being nearly enough, we had fallen further and further behind. Now, it’s to the point where we cannot afford to pay what is owed to (lender). It is our full intention to pay what we owe. But at this time we have exhausted all of our income and resources so we are turning to you for help.

(The approximate date of hardship and we believe that our situation is Temporary or will be Permanent.)

Our situation has got better because (reason here) and we feel that a loan modification would benefit us both. We would appreciate if you can work with us to lower or delinquent amount owed and or payment so we can keep our home and also afford to make amends with your firm.

We truly hope that you will consider working with us and we are anxious to get this settled so we all can move on.

Sincerely and Respectfully,

Borrower’s Signature


Co-Borrower’s Signature





CELL:  #562-480-1465    EMAIL ADDRESS:  Kristin@duncansrealestateservices.com

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Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator 

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator