Short Sales
I got a call last week from a distressed homeowner that wanted me to list their property. They told me it was a possible short sale. They had stopped paying their mortgage last year. So, I immediately contacted the bank and found out the home was already scheduled for a foreclosure sale in two weeks. I went to work at convincing them to cancel the sale. Most of the time I am very successful at stalling the foreclosure but there is alot that comes into play here. Most of it is very dependent on your financial situation and your ability to show your hardship to the bank. Whether it be a loss of job, loss of spouse, overwhelming debt, medical problems, retirement issues, leaving the state for employment, or whatever. Short Sales are hard and require a lot of paperwork, time is not on your side. Don't wait too long. . . Act fast! I help many distressed homeowners that get into real trouble and do not know what to do. My team and I have extensive experience with short sales and know how to get them closed smoothly. I probably already have a buyer for your house. I had one for this homeowner. And that's what sealed the deal. I told the bank they would make more money allowing me to short sale the property than letting it foreclose. The process isn't easy but it was handled professionally. If you are in this situation, do not wait until the last minute. Call me now and I will assess the situation and see what your options are.
Short Sales Need Time
Even more importantly, you must understand that doing a Short Sale takes time. More time than it would take to sell your house under normal circumstances. Even though the wait period has improved, there is still alot of paperwork to be processed. We have had a couple of clients that did wait too long before calling us to do a short sale on their house. We did everything in our power to stop the foreclosure but it was too late. The bank took the house back and we couldn't help the clients anymore. If you want to learn about Short Sales, you can call me anytime or email me and I will be happy to walk you through the process. I encourage you to pick up the phone and not wait another minute on the Short Sale Clock.
Terri Poehler
ReMax Professionals
TerriPoehler@remax.net
954-294-3937
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