I bet a lot of readers hear this when going out on a listing call. It's heartbreaking, isn't it? You are there to list the property as a short sale and nobody's happy. Not even you. Sure, you'd like to have the commssion, but putting someone out of the family home they love wasn't in your job description.
But what else can you do with a home that is in pre-foreclosure and heavily overencumbered? And even by offering a short sale, are you doing the family any favors? Will the bank approve the short sale? The stats on that aren't real encouraging. And just where are all those buyers?
And even if the bank approves, they could still go for a deficiency judgment and IRS penalties. Bank of America just turned over their files to the feds and stated that they were going to go for deficiency judgments now.
Is a short sale the answer? Maybe. But you keep hearing...
... I DON'T WANT TO MOVE. I LOVE MY HOME!
We've got an answer, and it's a darn good one. We are now affiliated with a small legal company in Ohio that has quietly been expunging mortgages from people's houses. Closing in now on about 200 cases only one of those wasn't a success (the owner didn't follow through on what needed to be done.) Think it can't be done? Think again!
Once the mortgage is removed, this company places a lien on the property for 100% of today's current market value. The owners only make payments on 50% of the amount. This, in most cases, reduces the mortgage payments being paid by up to 75%.
The result? Families get to stay in their homes. No old mortgage, no deficiency judement.
So now you're thinking, I'm a Realtor. If there is no sale, HOW DO I GET PAID?
My company will pay you directy out of our net profits. On a house with a $500,000 mortgage and a $350,000 FMV, our net profit could be as high as $40,000. We would pay the listing agent $10,000 (25% of our profit.)
Send us another agent with a listing. You get the same commission as if you were the listing agent.
Would you like more info? There is a conference call coming up with the managing partner of this sweet little company. You owe it to yourself, and those homeowners who don't want to leave their beloved home, to be on that call.
YOU CAN REGISTER BY EMAILING aghutton@gmail.com
NO TME FOR A CONFERENCE CALL? EMAIL ME FOR AN INFO PACKET
disclaimer: I am not an attorney, nor am I a licensed real estate agent (although I have been in the past.) Please consult your own attorney before acting on my advice.
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