We Buy Houses Blog, REO, Stop Foreclosure Home Loan Modifications Blog

What if your economic situation change and you decided to short sale a house after a loan modification has been approved. Is it still possible?

Usually not, but you can ask your lender. A short sale is to avoid a foreclosure, but they already helped you with that, by modifying your loan.

OCWEN handles VA & other REO. You can sign up at their website to handle them. https://www.ora-rmsi.com/webtop/registration/default.asp

Other sites like HomeSteps, you can sign up to start doing their BPO’s (Broker Price Opinions) and you might get some after you’ve done BPO’s for a while.

Is chapter 13 the only way?

No, chapter 13 bankruptcy is not the only option. Here is a pretty good website about avoiding foreclosure. It has info about foreclosure lending scams, foreclosure timeline, some step-by-step things you can do to stop foreclosure, and some advice on how to delay the eviction process after a foreclosure sale:

http://how2avoidforeclosure.blogspot.com

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I know its similar to REO which is real estate owned. Please help!

It’s not likely that it’s similar to REO. BPO means Broker Price Option but the following is the definition of PPO:

PPO means Percentage Price Oscillator –
A technical momentum indicator showing the relationship between two moving averages. To calculate the PPO, subtract the 26-day exponential moving average (EMA) from the nine-day EMA, and then divide this difference by the 26-day EMA. The end result is a percentage that tells the trader where the short-term average is relative to the longer-term average.

for more information, and the formula, see the source below.