Short sales in the State of Maine can be done one of two ways. They can either be retail short sales or discounted short sales. The first, retail short sales, can involve just the bank, the real estate agent, the sellers and/or a loss mitigation specialist. The second, discounted short sales, typically involve the sellers, the bank & an investor who is mitigating the debt and often times a real estate agent. There are many folks out there in the market right now, including agents, that are trying to negotiate short sales with banks that are not qualified to do so. In some cases, they can make things worse for the homeowner and can basically insure that the property will be foreclosed upon. At best there are professionals, who belong to organizations like the NAFPP (National Association of Foreclosure Prevention Professionals), who have been well trained in helping a consumer out of foreclosure and can help repair the consumer's credit and offer them a new start.
In my opinion as a professional, it is in the best interest of the general public and real estate agents everywhere to involve a professional. Not only is negotiating extremely time consuming but if the paperwork is not submitted correctly to the banks and consistent follow-through applied, it can lead to the consumer being foreclosed upon in a situation that could have had a different outcome. I currently work with the Maine NAFPP representative, his name is Doug Solman and his company is M.H. Solutions, Inc. Doug is the ultimate professional, who also cares about the people that he helps. He is dedicated and goes above and beyond in many situations. It's not about the money with this guy! He is truly dedicated to helping people out of a very stressful and sad time in their lives and put them back on their feet again. His organization gives him the best tools, including financial & credit repair advice. Their situation is handled with dignity & grace for people that are in a very uncomfortable and embarassing situation. Many times consumers are in this positions due to one of the 3 D's: Death, Divorce or Disability. These situations can happen to anyone. I have watched Doug negotiate thousands of dollars off a mortgage balance, get folks out of a bad place and help them back on their own feet again.
The bottom line for people facing foreclsoure, or agents who have clients upside down on their mortgages or in foreclosure there is help. My recommendation is not to try to handle it yourself but to go to a professional like Doug Solman. If you would like further information about Doug & his organization I would be happy to put you in touch with him. If you know someone that could use his services please contact me and we can help them out!
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