Short Sale

Has Your Home Value Been Cut In Half? We can help you avoid foreclosure.

This market has created unbearable stress and heartache. As a certified distressed property expert I can give you the expertise necessary to save your credit, relieve the uncertainty and most of all, help your family.

What is a Short Sale?

• When a homeowner is authorized to sell for less than what is owed on the mortgage.
• When the lender authorizes or accepts the sales price as a payoff.
• When the seller avoids foreclosure and many times they can avoid a deficiency judgment against them.
• When the seller avoids a negative report, by the lender, to the credit bureaus.

The seller won’t get any money at closing, but they will avoid the emotional toll a foreclosure can cause. The negotiations include a favorable wording for the forgiven debt on the mortgage tthat can help the recovery of the homeowner.

Why would a lender agree to lose money?

• Financially, it’s a smaller loss to accept a short sale than it would be to incur the additional expenses of a foreclosure.
• Lenders are in the business to lend money not home ownership. The more resources they have tied up on a property the less they have to lend out.
• With prices dropping so rapidly, even if the lenders decides to foreclose they will lose even more money when they finally try to sell the property later than sooner.

How does a short sale help me?

• It helps you avoid an emotionally draining foreclosure process.
• Avoiding a foreclosure will help save your credit. Typically a foreclosure will drop your credit score up to 200 points per loan.
• Avoid having a foreclosure on your credit report anywhere from 7 to 10 years, which affects your pruchasing power and interest rates.
• It could help you avoid a “deficiency judgment” from the lender after the foreclosure as they try to recuperate their losses.

To see if you qualify to short sale your home or would like to schedule a private consultation please feel out the form below.