We Specialize in Short Sales. What is a Short Sale?

A Short Sale is a win-win solution for the home owner and the lender. The lender gets the highest price for a quick sale at a market price. The borrowers get their credit restored and generally get relief from possible future legal actions and deficiency judgments.

Short Sales occur when borrowers sell their property for a sales price less than the amount owed to their lender(s) after all sales expenses, including brokerage fees, are taken into account. In order for this to take place the lender(s) must accept a discounted payoff; meaning the bank(s) get paid less than the full loan amount owed. In a short sale, the homeowners get complete relief from all of their mortgage debt.

The end result is your home is sold, the mortgage is satisfied (paid off) and you avoid a foreclosure or a bankruptcy in the event of hardship. Perhaps even better, your credit rating will almost immediately improve because your credit report shows that your mortgage was paid in full.

What are the Benefits of a Short Sale?

When a Short Sale is achieved, there will not be a foreclosure. A Foreclosure damages credit up to 7 years and bankruptcy up to 10 years. Many experts believe that a foreclosure is much worse than a bankruptcy.

• Our Short Sale Service is FREE to you; the lender covers all the costs involved.

• Controlling future costs. If your property is sold at an auction, you may owe deficiencies and other expenses to the lender. Under most short sales we negotiate, the homeowner will be relieved of this possible future headache.

Can investment properties be short sold?
Most definitely. Any type of property can be sold through a short sale.

Can you do short sales anywhere in the Country?

We have done short sales all over. While we cannot handle properties everywhere, We can refer you to a "Certified Distresses Property Expert" (CDPE) in your area. Just call us and we'll point you in the right direction.

What is a Hardship?

• Reduced Income or Unemployment.
• Inability to work due to health reasons.
• Separation or Divorce.
• Medical Bills.
• Business Failure.
• Death of a Spouse.
• Adjustment in mortgage payment or unforeseen increase in your monthly expenses.
• Any other circumstance that cripples your ability to repay your mortgage.

Does It Matter Who Does a Short Sale?

Very much so. Traditional Realtors only get about 15% of short sales approved. We work with the largest and most successful short sale processor in the county. Their success rate is over 95%.

What Happens If I Don’t Do a Short Sale or my Short Sale is Unsuccessful?

The result is the same: A Foreclosure. Our goal is for you to avoid foreclosure, which will affect your credit more than a short sale. Generally a foreclosure is one of the most damaging occurrences in a credit history. Most likely you will miss mortgage payments through the course of a short sale and this will show on your credit history. But at the end of the day, when your short sale is completed, your credit report will show that your mortgage has been completely “satisfied” and typically your credit score should almost immediately rise by 65 points.

But I've already received my foreclosure notice, is it too late for a short sale?

• The short answer is no, but there are a few variables that can affect the foreclosure timeline. 
•  A qualified Realtor or better yet, a Certified Distresses Property Expert can help you extend the foreclosure timeline up to 6 months and in many circumstances up to 7 or 8 months. 
•  A sale of a home can be done and approved up to the day of the bank sale or auction of the home.

How do I pay the Realtor commissions, taxes and other expenses associated with a home sale?

• The homeowner does not pay any of the expenses associated with the sale of the home, such as commissions and other closing costs. Those expenses are also paid by the lender. 
•  In December 2007, President Bush signed into law the Mortgage Forgiveness Debt Relief Act which eliminates the income tax that used to be levied on the forgiven portion of the primary home's sale. The tax is still in force for second homes and investment properties.