If you have lost your job, had your hours reduced, divorced, loss a partner, can't rent your place, or have had a major illness and have fallen behind on your mortgage and were rejected for a loan modification you probably are not sleeping well through the night.
In fact you are getting calls several times a day from your mortgage servicer. You are scared to answer your home phone and your cell. Opening mail has become a dreaded event. You hate to answer a knock on the door because it could be a summons server.
Despite your efforts you are unable to keep up with your mortgage, you have raided your savings, gotten a loan against your 401K, borrowed from family and friends and still have not been able to catch up or get your mortgage holder to help you out after months of submitting all the paperwork.
You have had it! Your ready to give up and have the sheriff take your home! Don't do that! YOU HAVE OPTIONS!
How? As a Realtor(r) that specializes in short sales I can offer you my services for FREE! You don't pay me anything! In fact, the majority of the time all your closing costs will be paid by your mortgage servicer/holder. So how does this work?
If you have been denied a loan modification and are so far behind in your mortgage that in your heart you know you have to find an alternative it's time to consider a short sale. A "short sale" is when your mortgage holder will accept less than what you currently owe on your mortgage when the house is sold! They normally will cover most normal closing costs including, realtor's commission, attorney fee, transfer fee, and property taxes.
If you have the paperwork from your loan modification most of the work has been done for the short sale package. You may have to update your bank statements, checkstubs and any other outdated documentation but you will have most of the required paperwork.
So let me help you out by negotiating with your lender once we have an offer on your home. It will be listed in our local multiple listing service and we will do all the work on marketing it to prospective buyers. You will have to cooperate in showing your home and keeping it in showing condition to facilitate a quick sale. If it's your primary home the majority of your debt will not be subject to taxes due to the Mortgage Forgiveness Act but again you will need to verify with your tax consultant to make sure your particular circumstances qualify.
So, instead of sleepless nights, avoiding the ringing telephone and not answering your door....give me a call! I have helped others in your situation to go on with their lives. With a short sale you may qualify for another FHA loan within 2 years if you are past due in your payments and if you are current you may qualify even sooner.
Don't think this will go away unless you take that 1st step and call me. Read about short sales on my short sale blog: http://oswegoshortsalerealtor.com/
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