DO YOU OWE MORE THAN YOUR
HOME IS WORTH?
Need to sell your home and avoid possible foreclosure?
WE HAVE A SOLUTION FOR YOU!
(646) 641-2187
Avoid Foreclosure
We Have A Solution!
Our full-time professional team will try to optimize your homes value and secure a profit for you, if unable a "short sale" could be the solution you need, here are some of the advantages it provides to you:
No cost to you, including no closing costs, attorney fees, realtor fees, or title costs.
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Avoid eviction and foreclosure, with no sheriff involvement.
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No personal liens for deficiency, no rush to vacate, and no stress.
Don't wait until it's too late - call us today for a fast, NO COST analysis of your situation - we can help! Call: (646) 641-2187
ZERO COST PAID BY YOU
In a short sale, the lender agrees to accept less than the amount owed on the mortgage.
As part of this agreement, the lender might also agree to cover all the costs associated with selling the property.
EXPERIENCED IN SHORT SALES
With over 20 years specializing in residential real estate short sales nationwide we have the experience to help.
Our dedicated team of specialists are ready to help you resolve the specific challenges you face, call us today.
STOP YOUR FORECLOSURE
A short sale can stop a foreclosure and benefit both parties.
The lender reduces losses and complications associated with foreclosure, and the homeowner mitigates more severe financial repercussions.
What Is A Short Sale?
A short sale is when a property is sold for less than the amount owed on the mortgage. This usually occurs when the property value has declined, and the homeowner is unable to continue making payments on the mortgage. We negotiate this special arrangement with your bank on your behalf and it can cost you nothing to do so.
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We Are Residential short sale Specialists
Working with a short sale specialist can significantly streamline the process, enhance negotiations with lenders, expedite the sale, and potentially improve financial outcomes for homeowners facing challenging situations.
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How A Short Sale Works
As we stated earlier, a short sale is when a property is sold for less than the amount owed on the mortgage but let's go into a little more detail about the process for those that wish to know more.
A short sale can stop a foreclosure by offering an alternative way for the lender to recover some of the loan amount without going through the entire foreclosure process. Here’s how it generally works:
As soon as financial troubles arise, a homeowner or their representative (SS911) can approach the lender to discuss the possibility of a short sale. This step is critical because it involves the homeowner explaining their financial hardship and proposing a short sale as a solution before the lender initiates foreclosure proceedings.
Lender’s Incentive:
A) Cost Efficiency: Foreclosures can be costly and time-consuming. They involve legal fees, maintenance of the property until it can be sold, and potential tax implications.
B) Faster Resolution: A short sale can be completed more quickly compared to the time it takes to process a foreclosure.
C) Market Value: A short sale might fetch a better price compared to a foreclosure auction, where properties can often sell for less than market value.
Lenders might prefer a short sale over a foreclosure due to several reasons:
Approval Process:
Once a homeowner proposes a short sale, the lender evaluates the offer, which includes assessing the homeowner’s financial situation and the market value of the property. If the lender believes that a short sale will recover an acceptable portion of the loan and is more beneficial than proceeding with foreclosure, they will agree to the short sale.
Pausing Foreclosure Proceedings:
If the lender agrees to consider a short sale, they typically pause the foreclosure process. This gives the homeowner time to list the property and find a buyer. It's important for the homeowner to act quickly and efficiently during this period to demonstrate their commitment to resolving the issue.
Final Sale and Forgiveness of Remaining Debt:
If the short sale is successful, the proceeds from the sale go directly to the lender. Ideally, the lender forgives any remaining balance on the mortgage, though this isn’t always guaranteed and should be clearly negotiated in the short sale agreement.
Impact on the Homeowner:
Completing a short sale rather than going through foreclosure can be less damaging to the homeowner’s credit score. It also may reduce stress and provide a more controlled exit from the property.
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Step 1) analyze
First, we analyze your specific situation and develop a custom plan designed around your needs and challenges.
Step 2) Negotiate
Next, we negotiate on your behalf with your bank or mortgage holder to get the best terms we can for you.
3) Close
Finally, we find you a buyer for your property, coordinate the details with your bank and arrange the sale of your property.