Don’t let your home go to foreclosure/Sheriff's Sale and have your mortgage company freeze your assets when they come after you for the deficiency balance! It can happen!
There are many ways to lose your home but having the Sheriff show up at your door is the hardest. Then to have your mortgage company then come after you for the deficiency judgment by freezing your assets/bank account makes life even more challenging. For owners who can’t afford to keep mortgage payments current any longer or are behind already on their mortgage, there are alternatives to bankruptcy or foreclosure.
One of those options is called a "short sale."
More than half of our listing inventory are Short Sales and Foreclosures.
When lenders agree to do a short sale property on your home, it means the lender is accepting less than the total amount that is owing.
It is at your lender/s discretion whether they accept to approve your home for an Noblesville IN Short Sale listing, but it is worth a try!
If you are considering buying or selling Noblesville Short Sales, there could be drawbacks. For your protection, we suggest that all borrowers:
- Obtain legal advice from a real estate lawyer with strong Short Sale knowledge
- Call a CPA for tax ramifications.
We are not CPA’s or attorneys, so we can’t advise you on these consequences.
Lenders have varying steps for Short Sales, but these are typical for the Short Sale Process:
- Call Your Lender
Let your lender know you are working with an experienced Short Sale Agent that has listed your home and that you need their Short Sale package if they require their own packet.
- We Will Submit Your Letter of Authorization
Once you contact us to list your home as an Indianapolis Short Sale, this is one of the first steps that we take.
- Hardship Letter
Give all details that are critical to your situation: tax increases, divorce, separation, medical costs, job loss, etc. We have example Hardship Letters if you need them.
- Proof of Income and Assets
You will need truthful and honest about your financial situation and disclose assets and all liabilities. Your lender might require their Financial Worksheet be filled out, and if not, we have a copy that you can utilize.
- Copies of Bank Statements
Your lender generally needs your last two most recent months bank statements, and large deposits or withdrawals will possibly be questioned by your lender/s.
We have closed numerous Short Sales: Indianapolis IN Short Sale, Greenwood IN Short Sales, Avon IN Short Sales, Mooresville IN Short Sales, Carmel IN Short Sales, Westfield IN Shortsales. Check more properties at no obligation: www.SmithFitzgeraldTeam.com
If you are behind on your payments and are not sure what to do, contact Heather Fitzgerald Today!
We find solutions for you! 317-371-2622