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Business With Integrity 

 

"Chris is an honest and reliable guy.  He's definitely an investor who cares about his potential clients.  He'll get the deal done, regardless of any obstacles, and he'll explain the entire process along the way!  Chris is an experienced investor who is definitely worth doing business with! "

 

Carey Buck

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Short Sale Information

Little or NO Equity? We Can Help You!

  • Are you 2 or more payments behind in your mortgage?
  • Little or no equity?
  • Do you owe more then you could sell the property for on the listed market?

If you answered yes to these question, then you may be a candidate for a short sale on your property.

 

 

What Is A Short Sale?

 

A short sale in the world of banking is an accommodation by the lender in hopes of avoiding loss and minimizing risks. The following is a common example of a bank short sale candidate scenario.

 

Does this sound like your situation?

 

Let's say that the Smith family buys a property for $200,000. Frank Smith puts down $30,000 and takes a $170,000 mortgage loan, and immediately after closing, a second mortgage loan for $60,000 from his credit union to purchase an investment property or maybe to pay down other debt. Then, something happens to the local economy. Maybe Frank loses his job, runs through his savings, and begins to fall behind both on his first and second mortgages.The banks are calling him weekly but there is nothing Frank can do. His house is for sale, but it needs a little work and he just cannot get what he owes on it. Frank has been unable to keep up with repairs for lack of funds.Untitled American Bank (UAB) hires an appraiser to inspect the property and he reports that it appears to be in poor shape and probably not worth near the $230,000 that Frank owes the bank. Markets have changed. The bank's loss mitigation specialist estimates that a non-judicial foreclosure will cost about $6,000 and there are property taxes due in the amount of $2000. The appraiser estimated repairs in the amount of $10,000. With the second mortgage outstanding, the bank is looking at a large loss, and will have difficulty selling the home even after foreclosure. If you are in a similar situation and behind on your payments, let us offer some relief. We will put together a short sale package, which if accepted will reduce what you owe. In many cases we can take over your payments and catch you up to save your credit right away.

 

The short sale is a package put together by our short sale specialist and presented to the lender along with our offer. We are Bank Short Sale and loss mitigation specialists! Banks and Mortgage brokers want to work with us because we make their jobs very easy. Short Sales are not always the best or only option. We have many options for financially distressed property owners.

 

 

Shortsale Short Sale Loss Mitigation Specialist

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