Short Sales
How to Keep Your Home and Avoid Foreclosure!Short Sale Help
What is a mortgage default?
A mortgage is considered to be in default when one or more monthly payments have been missed.
What solutions are available if I am in default on my mortgage payments?
You may qualify for a broad range of help. Some solutions are:
- Short Sale/Payoff
- Forbearance Agreement
- Loan Modification
- Deed in Lieu of Foreclosure
What is a Short Sale/Payoff?
Short Sales occur when borrowers sell their properties for amounts that are less than the amounts owed to the lender.
How do I qualify for assistance?
Borrowers need to prove that they are experiencing a substantial financial hardship.
What is a "Hardship"?
A hardship is a situation that has a life changing effect for the borrower that results in an in-ability to pay the mortgage debt in either, short or long term. Some examples are:
- Separation or Divorce
- Medical Bills
- Inability to work due to health reasons
- Death of Spouse
- Job Relocation
- Reduced Income or Unemployment
- Business Failure
How do I apply for help?
Contact us and let us consult with you about the best option available.
How do I qualify for a Short Sale?
A borrower must prove that a hardship exists. The lender must be willing to accept the short sale proceeds as full settlement of the debt.
What is required from the property owner?
The property owner must:
- Sign a listing agreement with a Realtor
- List the property for sale
- Cooperate with access, showings, offers and with the Realtor
- Vacate the home following close of title
- Agree not to finance or otherwise encumber the property
- Be responsible to maintain the home in "show" condition
- Be responsible for minor repairs to the home
- Be a responsible homeowner until close of title and vacancy of home.
Can any Real Estate Agent assist me in selling my home in a short sale situation?
Possibly, but usually you have only one shot to succeed in a short sale transaction, it is therefore highly recommended you work with a company experienced in short sale negotiations that can properly represent you and is specialized in this field. We would love the opportunity to help you with this.
.
How can you help me?
Attached is a partial list of our services:
- Can help you avoid foreclosure and eviction
- Help you minimize credit damages
