Short Sell Help
Are you behind on your mortgage payments and unsure on what to do?
We are here to help! Don't fight the banks alone! Let us do it for you.
Why allow a Foreclosure to damage your credit rating for a long period of time, when we can Short Sell your property easily? Most importantly we are paid by your mortgage bank so our services, are absolutely free. As with any court related manner a foreclosure is something where timing is of critical importance. Don't wait call us now at 863-292-6895 to discuss your options today! Sellers benefit the most from a short sale by avoiding a stressful and costly foreclosure process, and having the ability to move on with life without the long term effects of a foreclosure. Today, there are many buyers out there anxious to spend the money to buy, fix and flip real estate.
Lenders will require the borrower to prove they have an economic or financial hardship preventing them from being able to pay the balance of the loan as well as a possible deficiency. Lenders holding liens against real estate can include primary mortgages, junior lien holders: such as second mortgages, home equity lines of credit (HELOC) lenders, home owners association HOA (special assessment liens), all of whom will need to approve individual applications for a short sale, should they be asked to take less than what is owed.
Most Lenders and/or servicing companies will have special loss mitigation departments that evaluate borrowers' applications for short sale approval. Lenders use pre-determined criteria for approving the borrowers and the terms of the sale of the properties. Part of this process typically includes the creditor(s) determining the current market value of the home by obtaining an independent evaluation of the property with an appraiser, a Broker's Price Opinion (BPO). One of the most important aspects for the borrower in this process is putting together a proper real estate short-sale package, including hardship letter explaining why a short sale is needed. We have helped hundreds of people short sale their property, we have the experience and know-how to help through this process.
Some lenders may accept applications from borrowers even if the borrower is not in default with their payments. Due to the overwhelming number of mortgage failures as part of the 2008 financial crisis, lenders have become very skilled at processing short sales applications; however, it can still take several months for the process from start to finish, many times requiring multiple levels of approval. In some cases junior lien holders and others parties with an interest in the property my object to the amounts other lien holders are receiving and it is possible for any one lien holder to prevent a short sale to close, by simply refusing to agree on a reduction of their payoff amount to release the lien. Also if the lender has private mortgage insurance on their loan, the insurer will also become a party to these negotiations, as it is likely the insurance policy may have to be used to pay a claim to offset the lender's loss. The fact that there can be so many parties involved in a short sale is the main reason you should not wait until it is too late to begin the process.
If you have been served with a "Lis Pendens" it means the bank has started the foreclosure process, the longer you wait the higher the chances you will not only loose your home but also deal with the lengthy consequences of it. Call us today for a free-no hassle consultation at 863-292-6895