- Are you upside down in your home?
- Do you owe more than your home is worth?
- Are you behind on payments and facing foreclosure?
- Did you try a mortgage modification, only to get double crossed by your bank and saddled with heavy penalties and additional fees?
Many people have been left behind in this turbulent economy. Much of the time, it is not their fault. Job loss and medical problems are all too common and creep up unexpectedly. Once a person falls behind, it is hard to catch up.
On top that many banks are abusing the borrower. A common tactic is to string you along for months with a song and dance about a mortgage modification or payment reduction. They’ll work out a payment plan, and after you’ve faithfully made a few reduced payments like they said, they suddenly decide that you “don’t qualify” and saddle you with a mountain of fees and certain foreclosure. They’ll even charge you a penalty for paying the reduced mortgage payments… that they agreed to accept. They’re trying to squeeze everything they can out of you before they foreclose.
So who is on your side? WE ARE! And we want to help you avoid foreclosure!
We specialize in short sales. In a short sale, we convince your lender to allow you to sell the home for less than the amount of your mortgage. This will allow us to sell your home at current market values, and the bank agrees to take the loss. That’s right, in most situations the cancelled debt will be forgiven by your lender and you won’t have to pay the difference between what you owe and what the house sells for. On top of that, a short sale is not as bad for your credit score as a foreclosure is.
The best part is that this service costs you nothing. We charge no upfront fees, and you don’t have to bring cash to the closing table. If we cannot complete a successful short sale of your home, you don’t owe us a dime! And if your bank refuses to release you from the obligation to pay the cancelled debt, or puts unacceptable conditions on the short sale, you can back out of the deal!
Call us for a free consultation. Use the “Contact Us” box on the right or at the bottom, or call 866-559-8546. We will discuss the specifics of your situation with you and help you determine whether a short sale can be successful for you.
To learn more about short sales, please keep reading.
What is a Short Sale?
- A short sale occurs when a home is sold for less than the amount owed on your mortgage
- Your bank agrees to take a loss on the mortgage in order to avoid the expense of foreclosure
- You may be eligible for money at closing for relocation
Why would a bank approve a short sale?
- Foreclosure is very expensive for banks
- There are legal fees, property taxes and assessments, and maintenance costs associated with foreclosed property that cost banks a lot of money
- It allows the bank to “cut its losses” up front without having to complete the foreclosure process
Why should a you consider a short sale?
- A short sale may not damage your credit as much as a foreclosure
- A short sale does not impact the community as negatively as a foreclosure
When may a short sale be a good option for you?
- You owe more than the house is worth
- You have experienced a financial hardship
- You have no funds available to bring to closing
- There is only one mortgage against the property, or both mortgages are held by the same bank
When may a short sale not be a good option for you?
- There are other liens against the property (i.e. IRS, homeowner association or mechanics liens)
- There is insufficient time prior to a foreclosure auction to market the property
- You have a significant amount of liquid assets
- There is more than one mortgage against the property and the second mortgage is not with the same bank as the first
- You used the funds from a refinance, equity loan, or line of credit for something other than property improvements (i.e. cars, vacations, etc)
How can Independence Real Estate help? We will:
- Offer a complimentary consultation and market analysis to assess the chances of completing the short sale on your behalf
- Assist you by contacting your bank and starting the short sale process with them
- Help you put together the “short sale package” of paperwork required by your lender
- Remain in contact with your lender throughout the process
- Help you determine an appropriate asking price to market your property
- Provide full service marketing of your property
- Solicit and present offers from potential buyers
- Offer support and consultation throughout the selling process
- Cost you nothing out of pocket. We are paid in commission upon the closing of a successful sale
Our area of expertise is determining whether your short sale transaction can be successful, and assisting with the marketing, sale, negotiation, and successful close of the property.
Because everyone’s personal financial situation is different, Independence Real Estate will advise you to seek legal and tax advice regarding whether the short sale is your best option. This type of advice is outside our area of expertise and outside the scope of our real estate license. There are some free resources we can refer you to.
To learn more please call 866-559-8546 or contact us below: