AHMSI (American Home Mortgage Servicing) Short Sale Sold!
Raymond Kennedy has closed another AHMSI, American Home Mortgage Servicing, Short Sale in Illinois. AHMSI approved the Short Sale and released the lien on the property for a total payoff of roughly $129,000. Based off the amount that was owed there was over $40,000 loss off the original loan. The loan was forgiven without any deficiency attached. This allowed the homeowner to move on with their life and put them in a much stronger financial position for the future. AHMSI, American Home Mortgage Servicing Short Sale did not have to pay a single fee in order to complete it.
Since AHMSI (American Home Mortgage Servicing) is such are large lender I have worked with AHMSI (American Home Mortgage Servicing) on Short Sales with various different types of loans. I have worked with them with various types of Short Sales including HAFA, Portfolio AHMSI, American Home Mortgage Servicing, Short Sales loans, Freddie & Fannie AHMSI Home Equity Lines of Credit (HELOC). Some are more challenging than others but we have been very successful with the completion of these types of Short Sales. In my experience AHMSI Short Sales tends to be a little more aggressive about pursuing the Short Sale option so their time frames have been less than the average traditional Short Sale.
To learn more about AHMSI, American Home Mortgage Servicing, Short Sales in Illinois please contact Raymond Kennedy at 708-620-4460.
Reasons why a AHMSI, American Home Mortgage Servicing, Short Sales are beneficial to those facing a potential foreclosure in Illinois:
- Illinois is a Deficiency judgement state which means the lien holder/bank/investor could possibly come after a home owner for the remaining balance. By pursuing a AHMSI Short Sale you open your self up to the opportunity to negotiate the remaining balance and either have this liability completely waived or reduced significantly.
- Reduce the negative impact to your credit.
- Put yourself back in the market to sooner to purchase another home by completing an AHMSI Short Sale.
- All the traditional fees such as Realtor commissions, attorney fees, standard seller fees are not required by the seller, the lien holders pay this as part of their loss. It is fairly a low risk option if you qualify for the Short Sale.
- Every Short Sale is different depending on a number of factors such as the lien holder, type of loan, loan terms, investor and your financial situation. There are some homeowners that may qualify for incentives. I have seen incentives at $3000, $5000 and in very rare unusual circumstances up to $30K to participate in a Short Sale.
This information is not intended to be legal advice but only to give you direction and guidance on what to expect with AHMSI (American Home Mortgage Servicing) Short Sales. I advise you to seek the legal advice from a qualified Real Estate Attorney in your local area. Some homeowners may or may not qualify for a Short Sale and may only qualify for the Short Sale under certain terms. It’s important to understand these terms before proceeding.
Learn more about Americn Home Mortgage (AHMSI) Short Sales Here
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Raymond Kennedy
Keller Williams Preferred Realty
Direct: 708-620-4460
Email: illinoisagent@gmail.com
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