Is it time to short sell your home?

For many homeowners who are behind in their mortgage payments and looking at foreclosure or bankruptcy they find that a short sale of their home is a better option than foreclosure or bankruptcy. If you find yourself in this situation, understand that you are not alone. Nearly 16% of all homeowners in America are behind on their mortgage payment.

Whether you are facing foreclosure, lost your job, are going through a divorce, are upside-down on your home, or are suffering some other financial hardship. WE CAN HELP YOU!!

The sooner we can get started the better off you will be. A short sale of your home is definitely and option for you to consider. Avoid foreclosure, save your credit, and salvage your financial future. Don’t wait another day, as this only brings you closer to foreclosure. .

What is a Short Sale?

A short sale is a sales transaction for which a seller's mortgage lender voluntarily agrees to accept a loan payoff of less money than what is owed on the mortgage loan. This may sound rather strange for any lender to be willing to accept a lower amount than what is owed on the note. However, banks can have astronomical expenses associated with a foreclosure and a short sale can be mutually beneficial for the homeowner and the lender.

SB 458

What about the difference in the sale of my home when it is less than the amount I own on the loan? This difference in the amount of the loan and the amount your home sells for when it is less than you owe on your loan is called a deficiency. SB 458 ensure that any lender that agrees to a short sale must accept the agreed upon short sale amount as payment in full of the outstanding balance of all loans on the property. So you as the homeowner will not be held responsible for any additional payments on the property.

What about a Loan Modification?

 

What We Do For You

  • We contact your lender and negotiate with your lender to accept less than what is owed.
  • We list and market your home.
  • We work with you and your lender to find the right buyer for you home at the right price!
  • We change your life by freeing you from a bad mortgage and relive your financial stress.

Benefits of a Short Sale

  • Short sale debt, deficiency, associated with your short sale will be erased.
  • Short sale is at no cost to you.
  • You avoid the humiliation of a foreclosure.
  • You don't have to pay rent or make payments on your mortgage during the short sale process.
  • You have control over the sale.
  • You will likely qualify for some type of cash at closing incentive and they can be from $2,000 and higher. This can assist you for relocation costs and getting back on your feet.
  • You can meet the new owners.
  • You will be eligible, under Famine Mae guidelines, to buy another home in 2 years vs 5 to 7 years associated with a foreclosure.

Short Sale Example

Short Sale Example