If you are financially distressed and need to sell your home short, do not go to your local "listing specialist"! In this situation, you need a short sale expert - someone who understands the process and knows what will help your lender co-operate.
A short sale listing expertdoes a lot more than fill out some forms, place your home on the MLS and stick a sign in your front yard. This expert understands the short sale process, what documentation to send the 1st mortgage, how to clear the 2nd mortgage, who the loss mitigators are, etc etc. A short sale is a lot more involved than any regular listing and sale.
If you know a real estate agent, ask them what their short sale experience is. Have they received additional training? Do they keep a database of the loss mitigation contacts? Do they know the full shortsale and foreclosure procedure in your state? Do they know how a short sale can effect your credit compared to a foreclosure? I love my family doctor, but if I have a heart problem, I will see a heart expert - real estate should be the same.
In some areas, there are more distressed property sales than other sales! In some areas of Des Moines, appraisals are becoming difficult because the only recent sales are foreclosures! Perhaps you have a friend or family member that has experienced a short sale distress. Ask them if they would refer their agent.
The Internet can be a great source for an expert. Those of us that specialize in short sales love to blog about it. We are proud that we help people keep their homes instead of losing them! When we meet, I will consult with you and try to find a way to keep you in your home (if that is what you want). If we are unable to negotiate a short refi, loan mod etc, we can discuss shortsale. Did you also know that a foreclosure affects your credit FOREVER! You can qualify for a mortgage in a little as 2 years after a shortsale!
Some investors will prey on those unfortunate enough to be in financial distress. Many times, the investor is unable to negotiate the short sale and the homeowner ends up in foreclosure. Good short sale experts can also have investors. These investors are often able to step in at the last minute to stop your foreclosure. Please beware, not all investors are the same. Beware of foreclosure rescue scams - help really can be FREE.
If you are in the Des Moines Area, give me a call and I would love to help you save your home or at least your credit. If you are outside my area, please email me and I will refer you to your local specialist.
Nigel Chapman 515 321-8094 Nigel@RealEstateConcepts.net
Read all my blogs at www.DesMoinesBlogger.com
Nigel Chapman, Managing Partner, RE/MAX Real Estate Concepts, 550 36th Ave SW, Altoona, IA 50009. Each office independently owned and operated. Equal Housing Opportunity. Licensed to sell Real Estate in Iowa.
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