A borrower will usually need to prove a “hardship” and therefore be unable to continue making payments on the mortgage. A hardship situation is one that is the result of some extenuating circumstance that forces the borrower into a position where they can no longer afford their mortgage payments. While every situation is different, some frequent examples of hardship include:
– Unemployment or loss of primary income source
– Inability to work due to health crisis
– Mounting medical expenses
– Employment relocation
– Failure of business
– Bankruptcy
– Death of spouse or significant other
– Divorce or separation
In addition to the homeowner proving hardship, lenders require a specific set of supporting financial documents to consider a short sale.
As your Short Sale specialists we will assist you in identifying and implementing the best possible Short Sale solution, helping you to avoid foreclosure. After a thorough review of your situation, we will work with your lender to come up with the appropriate solution and we will diligently negotiate to secure a fair and equitable solution. We will also negotiate with the lender to accept the payment in full and provide a release of deficiency.
There is also relocation assistance money, not all lenders participate, but we will negotiate on your behalf to secure what maybe available. In most cases, we are successful in negotiating up to $10,000 in relocation assistance money for you at closing.
We do not charge any fees or commissions, there are no out of pocket fees associated with the short sale.
Are you considering a Short Sale as an option to Foreclosure?
According to Fannie May, you may qualify if:
You are ineligible to refinance or modify your mortgage
You are facing a long-term hardship
You are behind on your mortgage payments
You owe more on your home than it’s worth
You have not been able to sell your home at a price that covers what you still owe on your mortgage
You can no longer afford your home and are ready or need to leave
Why choose us to be your Short Sale Specialist?
· We Are Dependable & Trust Worthy
· We Are Proven Successful Negotiators
· We Do Not Charge Fees Or Commissions
· We Truly Are Here To Help You Through This Difficult Time.
A short sale refers to a real estate sale where the proceeds from that sale, fall short of the debt balance owed on the property. In a short sale, the property owner can’t afford to repay their debt in full and the bank is willing to accept an amount that is lower than the actual amount of debt owed. As a result, the Bank allows you to sell your home even if you owe more than it is worth.
Need A Short Sale Specialist?
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