Chicago Short Sales: Do forensic loan audits work?

Posted on November 16th, 2010 in All Articles, Short Selling/Buying.

Chicago IL – I’m sure you have heard about forensic loan audits. I’ve heard people say how wonderful they are. “Your lender will approve your short sale right away”, claims one.

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

An agent told me a story about forensic loan audits. He worked with a woman who was trying to short sales 3 houses. He knew they were short sales and was glad to list them for sale.

There was a guy involved who was supposed to be doing all the “negotiating” with the lender. Little did this agent know this guy was trying to flip the houses. This guy had a forensic loan audit done.

He claims he paid foreclosure defense lawyers out of his own pocket. He did all this stuff in an attempt to force the lender to approve the short sale.

The only problem was the lender didn’t care. The short sale negotiators at the lender were not going to approve the short sale offers so this guy could resell the home for a profit.

“We know this guy is trying to flip the house. We won’t approve the short sale as long as he is doing that”, they said.

This was despite the claims that some have made that a forensic loan audit will have lenders trip over themselves to approve the short sale.

Please consider this story before you spend $800 to $1,000 on a “Forensic Loan Audit.” I am in the business and talk to homeowners facing foreclosure every day.

I have only heard a few stories where a “forensic loan audit” made a difference to the lender. I’m not saying that they don’t work. I just want to warn you to check them out before spending big bucks for one.

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 myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (312) 953-6725.

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

Remember to visit my Chicago short sale blog frequently for great tips and news on Chicago short sales www.Chicago-ShortSaleBlog.com

Thinking about a loan modification? Our Chicago Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc..

Phone: (312) 953-6725. myrealtorphil@gmail.com.

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

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicagoland Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.
Phil Buoscio, is a broker with Better Living Realty he leads the sales team “Phil Buoscio Team” and specializes in short sales in Chicago Illinois. Chicago Loan Modification Help can be referred to you. We don’t do loan modifications ourselves but we work with those who do.
We know Chicago Short Sales. I am a Chicago Short Sale Realtor. Chicagoland Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor. We do business in Pilsen. McKinley Park. Bridgeport. Wicker Park. West Town. Ukranian Village. Lincoln Park. Near North. River North. East Village. Logan Square. Uptown. Edison Park. Portage Park. Hermosa. Lincoln Park, South Loop, West Loop. Bronzeville. Hyde Park. Kenwood. Oak Park. Brookfield. Cicero. Berwyn. Evanston. LaGrange. LaGrange Park. Riverside. We sell condos, single family homes, lots, land, multi units, two flats, three flats, etc.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. 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. The views expressed here are Phil Buoscio’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc.. This information on Chicago Short Sales: I thought it would work, but it didn’t is provided as a courtesy to our viewers to help them make informed decisions.