Short Sale Relief

1. Do you owe more on your home or investment property than it is currently worth?
2. Are you behind on mortgage payments and want to avoid the damage of foreclosure?
3. Would you sell the property if you could walk away free and clear without paying a dime out pocket?

If you answered yes to any of these questions then you may be an excellent candidate for a short sale.  I can help you sell the property and, in most cases, your lender will pay for ALL of the costs. The lender pays closing costs, commissions, and they will cover the loss between what the property sells for and what you owe. It's very likely that you will not have to pay anything...you walk away free and clear not owing a dime!

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What Is A Short Sale?

A short sale occurs when the lender agrees to take less than the full amount owed because the loan balance is greater than the value of the property. If you're considering a real estate short sale there are things you need to know before speaking to your lender. Consulting with a licensed professional versed in short sales and the foreclosure process is a must.

Why Would I Do A Short Sale To Avoid Foreclosure?

Choosing foreclosure over a short sale is like choosing a 70 MPH head on collision over a 3 MPH fender bender.  Neither are desired, but if you have to choose, take the short sale.  In most cases a short sale costs nothing and you greatly minimize the damage done to your credit.  When the lender forecloses and resells the property, they will likely receive much less than what you currently owe them.  The difference between what you owe and what they recoup, becomes a deficiency judgment against you.  This will stick with you until you pay it off or file bankruptcy.  Bankruptcy and foreclosure together will ensure that you receive the worst credit terms available for many years to come.  Getting a car with a reasonable interest rate and payment will be a night mare.  Finding a new home, that you want to live in, is going to be next to impossible.  Foreclosure can prevent you from being accepted for future employment, and in some cases, can cost you your job even if currently employed.  Contact Me    

 

Why Would My Lender Accept Less Than What Is Owed?

It's much more expensive for the lender to foreclose on your property than for them to accept a short sale.  Many lenders will negotiate short sale terms quite favorable to you, oftentimes allowing you to walk away with no deficiency judgment.  A successful FREE short sale with no deficiency judgment is very possible if you work with me to get it done. Contact Me

 

Will I Qualify For A Short Sale? Quick Qualifier Quiz

Has Your Home's Market Value Dropped Below What You Owe?

Contact me to find out.

Comparable sales will be used to substantiate that your property is worth less than the unpaid balance owed the lender.  Get a FREE Home Valuation Report.

Is Your Mortgage Currently In Default or Are You Concerned That It Soon Will Be?

It used to be that lenders would not even consider a short sale if your payments were current, but not anymore. Realizing that other factors contribute to a potential default, many lenders are eager to head off future problems at the pass. Many lenders no longer require that you be late on your payments however you must be able to convince them with your hardship letter and financial records that you're concerned about your ability to continue making payments.

Have You Fallen on Hard Times?

Have you experienced a job loss, cut back in work hours, divorce, death or any other challenge that is hampering your ability to make your monthly payments? You must be able to prove financial hardship. If you've answered yes to all of these questions, you're probably an ideal candidate for a real estate short sale. Take this simple Quick Qualifier Quiz to determine the likelihood of whether or not you'll qualify for a short sale.

If you or anyone you know may benefit from a short sale, please contact me and get a FREE copy of my $37.00 book, The Homeowner's Guide to Real Estate Short Sales. This easy-to-understand, step-by-step instruction guide describes how banks operate in the negotiation process and also includes the tools and forms required to short sell your home or investment property.

Contact Me

Successful Short Sales

Sype Dr in Carol Stream, IL
Market value at the time of sale: $225,000
Client owed: $350,000
Debt waived by the lender: $125,000
Relocation assistance to my client at closing: $3000

Outcome: I helped my client out from under a massive upside down debt and he was able to walk away free and clear. He received $3000 from HAFA for relocation assitance to top it off.



Redwood Ln in Tinley Park, IL
Market value at the time of sale: $230,000
Client owed: $277,000
Debt waived by the lender: $47,000
Relocation assistance to my client at closing: $1000

Outcome: I helped my client out from under a massive upside down debt and he was able to walk away free and clear. He received $1000 for relocation assitance to top it off.


Ontario St in Chicago, IL
Market value at the time of sale: $160,000
Client owed: $300,000
Debt waived by the lender: $140,000

Outcome: I helped my client out from under $140,000 of negative equity.






16Th St in Chicago, IL
Market value at the time of sale: $145,000
Client owed: $250,000
Debt waived by the lender: $105,000

Outcome: I helped my client out from under $105,000 of negative equity.





Marine Dr in Chicago, IL
Market value at the time of sale: $60,000
Client owed: $125,000
Debt waived by the lender: $65,000

Outcome: I helped my client out from under $65,000 of negative equity.





And Many More Like These!