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Thursday, May 5, 2011

Turnersville Short Sales: The Most Effective Way To Stop Debt Collector Harassment

Turnersville NJ – Debt collectors are infamous for multiple phone calls at all hours of the day. One person told the Stop Foreclosure Institute that he would receive several phone calls the first thing Sunday Morning.

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

"They would call my home phone at 8:15AM on Sunday. This was the only day that I had to sleep in and they woke me up. I had 2 other people call me before noon", he told us.

This is the biggest complaint the Stop Foreclosure Institute has heard about debt collectors. People have told us, "No matter how many times I tell them to stop calling, they still call me."

Let me give you the inside story. The reason this happens is because most people don't do anything about it. They just learn to live with the harassing calls and go on with their lives.

Here is what the debt collectors don't want you to know. 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.

So when someone sticks up for themselves, it costs the debt collectors money. In fact, they are so scared of being sued that they all work together to track the people that have sued to collect the $1,000.

Here is the best technique that I have heard of to stop the calls. According to one guy it works great. When a debt collector calls you stop and ask for the person's name and the company name. Then, say the following.

"Bob, I have documented that you have called me today. I also have documented your company name and the phone number you have called from. Now, let me tell you this.

Under my right in the Fair Debt Collection Practices Act, I am requesting that you stop any and all calls to me. If I get another call from this phone number, then I will be contacting my attorney to help me get the statutory damages laid out in the Fair Debt Collection Practices Act.

In addition, I will call your manager and let them know that you could have saved the company $1,000, but chose not to. I will make sure that they understood who cost the company $1,000. So, don't call me again."

The reason this works so well is because you are holding that employee accountable. If they do call you again and have to pay you $1,000 as a result, then that manager will be angry. And it will hurt even more when you tell them that Bob could have saved them from paying it, but was incompetent.

Please try the script and let us know how it works out for you.

If you want a list of 12 common violations and instructions on how to stop the calls, then click here and scroll down to the Right. Click on How To Stop Harassing Debt Collector Calls. 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 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 609-868-1171

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

Thinking about a loan modification? Our Sicklerville 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, Larry Sarlo.

Larry is a Real Estate Lawrence Sarlo at Remax Preferred. Sicklerville Short Sales Realtor:

Phone: 609-868-1171.

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View  homes for sale at Search NJ Short Sales and Foreclosures CLICK HERE.

Larry Sarlo specializes in loan modification assistance and short sales in Sicklerville New Jersey. Sicklerville Loan Modification Help, Sicklerville Short Sales. Sicklerville NJ Short Sales. Sicklerville Realtor.

Important Notice

Larry Sarlo, Remax Preferred, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved 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. We do offer a loan modification kit.

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.

If you stop paying your mortgage, then you could lose your home and damage your credit. 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 our fee.

The views expressed here are Larry Sarlo's personal views and do not reflect the views of Remax Preferred.

This information on Sicklerville Short Sales: The Most Effective Way To Stop Debt Collector Harassment is provided as a courtesy to our viewers to help them make informed decisions.

Buyers Avodi Short Sale Problems

 From Larry Sarlo Sicklerville, NJ and Turnersville, NJ:

The #1 mindset is to be flexible...  Often times these sales take longer to close.  On a normal sale between only a buyer and seller you can have answers in hours or days.  When a bank is invloved it is likely your answer will take days, weeks and months. Take this into consideration when making offers on a short sale.  Plan on absences such a vacations or family trips.  When a bank says yes, they are ready now!
Here are some tips to follow when buying short sales in NJ
1. You will want to lock in on your mortgage rates.  Don't be so quick... and if you do lock understand yo may have to shell out some more money especially if rates are beginning to rise. Just because a bank accepts your offer, they will need signatures from many people... Supervisors, Investors, Trustees and more.  So be careful not to jump on locking rates so fast and if you do always be prepared to allow for additional time if needed.  Especially if rates are on the rise.
2. Buyers want to close often at the end of a month.  This means less money for interest rates and closing costs in general.  When a bank says they are ready, they are ready.  Be prepared.  Their urgency is not the same as yours. For them to recalculate the HUD settllement costs is a big deal.  The investors and supervisors are already signing off on the losses.  So if a bank is ready and it costs you a little more be ready to close.  Always allow for additional costs.
3. Postponements and cancellations are part of the short sale process.  If they happen, make sure you are flexible.  Especially with moving.  Many time buyers are also selling another home.  Make provisions to stay somewhere in between just in case.  Don't wait until the last minute.  Putting  Fido in the car is no fun when Fido has no where to go.  It happens!  If it can happen it will happen in a short sale.  So be prepared.
4.  Keep House Hunting...  Don;t get me wrong here, you love this house or wouldn't have made an offer, right?  But delays happen and can rejection.  Don;t pass up another deal because you were waiting for a decisoon fro the bank and when you finally got it 2 months down the line, you've passed up other homes.  Make sure you understand your time lines when you can back out of the contract.  Know your timelines and contract terms for escape clauses.  If need to get out, you will be able to because you had no choice.  You cannot control the banks.  You can only control you and your actions.
5. Home Inspections, Appraisals and Certificate of Occupancy inspections.  These all cost money.  The Home Inspection is often waited until a bank has acctped your offer.  However what if the home has issues and now you want to back out.  No problem right.  Only thing is you waiting 3 months to find this oput.  Get your home inspection right way.  It's $400 but better to find out now than later.  The appraisals can wait and so can the certificate of occpancy.  But remember you are buying the house "as is "  The bank will not do any repairs and neither with the seller.
6.  Low Offers is a no no.  Understand this a bank will order appraisals and BPO Valuations.  Tyipically appraisals are not wrong.  If your offer is 25-30% off the appraide value it is a crap shoot whether the bank will accept of reject your offer.  Most likely it will be rejected.  Banks will normally accept 10-20% off the appraide value but this is just a "rule of thumb".  Ask your agent to provide comps for the home.  Understand the value up front.  Also know this a bank will not generally make a counter offer.  So be flexible if you really want the house.  Yo will have to make the counter and be relaistic at this point.  A bank will have no problem walking away from your offer. Remember yo will be getting a good deal on that dream home.
7.  Communication is important with your agent and your agent and the sellers agent.  Nobody likes a nag, but once a week, at least, your buyers agent should be calling the sellers agent to keep on top of the events and processes of the short sale.  Your buyers agent should be then communicating this with you.
To sum it up be Flexible, understand time lines of the contract and the banks requests, and know the value of the home.  The short sale processes can be tiring and can wear down the best of us.  But if you go into it with a level head and experienced representation you will be fine.
 What you need to know about short sales is important.   Click here for more info

Contact me at 609-868-1171 or email at email Larry
Larry Sarlo is a Remax Preferred Agent, Certified Distressed Property Expert
Please contact me at 609-868-1171, Email:, Fax:856-258-6040