Why Do a Short Sale?

Do any of the following apply to you?

Are you stressed out about losing your home?  Facing Foreclosure?  Receiving harassing phone calls?

Are you late on payments?  Facing rising interest rates?  Owe more then the home’s value?

Do you have to move to another area?

Is the lender’s offer for a mortgage modification not reasonable?  - (quite common)

Well, thanks to the recent laws passed by Congress, plus the collapse of the banking industry, we have an option called “short sales”.

A short sale is is an honorable agreement between buyers, banks, and sellers to FAIRLY and with LOW STRESS, help everyone move on through the mortgage crisis.

I specialize in short sales here in Palm Beach County and the surrounding areas, and my team and I have helped well over a hundred homeowners with the short sale or loan modification process.   We can negotiate on your behalf, price your home effectively andget the banks to agree to accept the short sale. Currently we take on 12 new clients per month.

And the best part?

In many cases, you will not owe a dime to the banks anymore…and you will not have to come out of pocket for ANY closing costs or expenses…there are no fees.  It’s free, we charge you nothing since the banks pay  a regular Realtor commission on short sales.   The short sale process will be done and over pretty quickly, and you will be able to move on with your life.

So with nothing to lose, why not give me a call at (561) 340-2675 or follow the steps below to get started.  Or, you fill out the form in the box to the right to receive our free Short Sale Book. 

 

Short Sales - Getting Started

1st-Set up an appointment.  Give us a call at  (561) 340-2675… or fill in the information on the right to learn more about Short Sales.

2nd- Gather the following before your appointment.  With our extensive experience closing short sale deals, and in conjunction with the lenders, we have developed an easy to follow checklist for sellers.

- We need copies - No Originals - for each loan

• Hardship Letter
• Tax Returns - last 2 years
• Financial Statement
• Recent Mortgage Statement
• Bank Statements - last 2 months
• Pay Stubs - last 2 paychecks
• Authorization Letter

E-mail or call us to request the Financial Statement Form.

3rd- Bring all the items to the appointment.  It is critical that all the financial information is presented to the mortgage companies in one package, the Short Sale Package. If documents are sent in one by one, the sale will most likely never close. ALL items on the list must be completed and presented at our appointment with you, or the lenders will not be able to negotiate a short sale. Remember, be thorough in gathering the items because only complete Short Sale Packages can be sent to the mortgage companies. We will not send in incomplete packages.

4th- Talk to a CPA.  Make sure you understand your specific tax situation that will occur after you sell your home in a Short Sale.  In December 2007, the ‘Mortgage Debt Relief Act’ was signed into law until 2010 - allowing homeowners who occupy their homes to escape taxation of forgiven debt under certain circumstances. Also speak to an attorney if you have legal questions.

5th- Open all correspondence with the lenders.  Please pay attention to the mail that your mortgage lender sends you.  Open all mail and read it so you can stay informed. Forward copies of mail you receive to us. Please do not ignore the mail, so we can track communication and important timelines.