Millions of Americans are facing the possibility of losing their biggest asset, their homes. It no longer matters what the cause may have been, the problem you face is stressful and often includes the unpleasant aspects of harassing phone calls and the fears of not knowing if you’ll face foreclosure.
There may have been several contributing factors to your current predicament - a readjusting variable mortgage rate, missing payment of one or more mortgage payments, being “upside down” with the current value of your home less that what you initially paid for it, or finding your lender less than accommodating to help you work out a compromise. All of these are stressful and frightening, and you may want someone to help you sort through this to avoid a disastrous foreclosure on your home.
The good news is we can work with you to arrive at the correct answers you will need to get through this dificult predicament. We’d like you to consider the better option of a SHORT SALE of your home. So here are some basics you should know about Short Sales:
A short sale is a legitimate means of resolving your mortgage debt problem through the sale of your home that involves all the parties in the sale – the bank, the buyer and you. A short sale can in the majority of situations eliminate your mortgage debt and can be done in a way that costs you no out of pocket money for expenses, closing costs or realtor/attorney fees.
What You Will Need to Do: To achieve a successful short sale you will need a skilled team of professionals who can guide you through the complex process. That’s where I come into this picture. I am an expert in short sales, and specialize exclusively on short sales in Palm Beach, Martin and Broward Counties.
I work with a team of professionals that include legal experts whose job it is to represent you in the often-difficult negotiations that must take place between the seller and the bank or mortgage lender. Together we work with the bank to establish a sale price for your home that will attract buyers, be competitive, and still satisfy the lenders to accept the agreed upon settlement amount. The best part of this aspect of our legal agreement with you is that it costs you nothing out of pocket.
The Benefit to Using Our Team – IT’S FREE. In the majority of the short sales we handle, when completed, you will not owe the banks another penny, and all costs related to your short sale including closing costs, processing costs and legal expenses will be paid from the bank-approved selling price. You’re not going to be asked to pay a dime for any of the services we provide.
Call today – 561-843-6057. The sooner you get us involved on your behalf, the sooner we can complete the short sale process and the sooner you can move on with you life without the stress of a possible foreclosure hanging over your head. If you prefer the Internet, simply complete the online form in the box at the bottom of this page to begin the process with a no cost, no obligation, telephone call to learn how we can help you.
Steps You Need to Take to Start the Short Sale Process
- Call to discuss your situation and to set up an appointment. Call us at 561-843-6057 or complete the online information request form on this page.
- Gather the following information & documents before your appointment. With our extensive experience closing short sale deals, and in conjunction with our attorneys and lenders, we have developed an easy to complete checklist for short sellers. Listed below are the documents we will need to get the process going::
Documents Required
- Short Sale retainer agreement
- Bank Authorization to release information
- Financial Statement – Call or email us to request our Financial Statement Form
- Listing Agreement
- Executed Sales Contract showing that you (seller) choose title
- Hardship Letter
- Pay Stubs – Copies of your pay stubs from you last 2 months paychecks
- Tax Returns - last 2 years – Copies only, No originals
- Copy of your most recent or last Mortgage Statements
- Bank Statements - last 2 months - Copies only, No originals
Additional Information Requested
• Any relevant information about the property such as damage, termites or mold
• HOA contact information, date of last payment to HOA, amount & frequency
- Bring all of the requested documents to the first appointment. It is very important we present all your financial information to the mortgage companies in our Short Sale Package. This is done to expedite the process and have everything necessary to close the sale in crucial in order to avoid delays. Through our experience we have learned that success is based on providing only completed short sale packages.
- Set an appointment to talk to your accountant or CPA. It’s very important that you understand the ramifications of your short sale situation as it relates to your possible tax exposure, if any. Under the Mortgage Relief Act of 2007, the law permits homeowners who occupy their homes to, under certain circumstances, escape taxation of forgiven debt that may result from a transaction such as a short sale.
- Be sure you open all your mail, including correspondence sent to you by lenders. For you to be an informed party to the short sale process, it is your responsibility to open and read all the related mailings you may receive from your bank or lending institution. We require that you make copies of this type of correspondence and forward the copies to our office so we can stay abreast of all communications and related timelines.
|
