Know Your Options
A Short Sale takes place when a third party negotiates with a lender to accept a discount on what is owed and releases their interest in a property in exchange for a cash payment. Homeowners may be eligible to buy a home again in as little as 12-24 months as the loan is typically marked as SATISFIED and no other remedies would be required. Avoid Foreclosure and let us work with your lawyer, contact your bank, evaluate where you are in the process and communicate the message to them that you’re proactive, cooperative and plan on selling your home to avoid foreclosure.
- Get Paid to Sell: We will get you qualified for an option program or negotiate a seller incentive with your bank to pay you to sell your home and move. It doesn’t matter what you owe or what the house is sold for.
- Save your Credit: A foreclosure sale would negatively affect your credit for years to come. In a Short Sale, your mortgage shows as Paid in Full.
- Move Out on Your Own Terms: If you live in your home, stay in your home during the short sale process. We negotiate with your bank to get you the time you need to relocate.
- Become Mortgage Free: We negotiate with your bank to accept whatever your home is sold for as payment in full. First mortgage, second mortgage, home equity line? They are paid in FULL.
- Become Debt Free: We will negotiate with your creditors, on your behalf, to eliminate all liens, judgments, fines and monetary violations. After closing of title, not only will you become mortgage free, but you are also free of all debt.
- Get FREE Legal Representation: We work directly with a network of lawyers who will accept payment from the bank and never take upfront money from you.
- No Need to List your Property: We have an extensive network of professional buyers as well as buying for our own portfolio. When we enter into an agreement with you to buy your home you are not facing the risk of securing a buyer once your short sale is approved. You have a strong, professional buyer from the start.
- Hassle Free Closing Guarantee: We will buy your house AS IS, All CASH, FAST! We have buyers for ANY Condition under ANY Circumstance and Close IMMEDIATELY upon obtaining short sale approval.
- Get a Helping Hand: Although we work with and are direct buyers, we would be happy to work with your current realtor if already represented. We even recommend top real estate brokers to work with if further assistance is desired. Remember, the broker’s commission will be fully paid by your lender NOT by you.
- SOS Service: If you have received a notice about an upcoming foreclosure auction or if you believe you need IMMEDIATE assistance, we will review your case within 2 hours, give you priority in order to save your home from foreclosure.
If the value of your property is less than the amount owed to the bank, you are a candidate for a short sale.
Foreclosure is when you are in default of your mortgage and you decide to DO NOTHING. Foreclosure is the process that allows the lender to recover the amount owed on a defaulted loan by selling or taking ownership (repossession) of the property and securing the loan. Foreclosure negatively impacts your credit by significantly dropping your credit score. When a property is foreclosed the homeowner can be subject to a Deficiency Judgement.
In many cases the damage created during the period of time the mortgage was in default leaves the homeowner in a position where the house is actually worth less than what is owed on the mortgage. Although selling the house may be a viable strategy, after calculating the expenses of selling i.e. Closing costs, transfer tax, commission to broker, legal fees and in most distressed situations, other outstanding violations, judgements and liens, in many cases there are better options for the home owner than just listing with a broker and selling.
Loan Modification is when the bank agrees to reduce principal, interest and or payments. Less than 25% of the homeowners requesting loan modifications are actually accepted into a program.
Deed in Lieu
Deed in Lieu is when a lender agrees to accept your home (the deed) in lieu of foreclosure in exchange for cancelling your loan. This is the same result as a foreclosure.
A Forbearance Agreement is when the lender stops or postpones legal action allowing you to catch up with your delinquent loan. When a lender allows you to delay payments creating a negative mark against your credit.
Bankruptcy- WORST OPTION. Bankruptcy ONLY DELAYS A FORECLOSURE DOES NOT STOP IT. Bankruptcy and foreclosure damages your credit and stays on your record for 7-10 years.