Romeoville Townhouse Sold | Wells Fargo & BMO Harris Short Sale
We just closed on another Wells Fargo Short Sale and BMO Harris Short Sale in Romeoville IL. Our homeowners can now move on with their lives knowing they will not be responsible for the remaining balance and can possibly purchase another home much sooner than if their home went through a judicial foreclosure in Illinois.
Wells Fargo Short Sales
I have been helping homeowners with Short Sales for many years and one of the most common servicers / banks I encounter is Wells Fargo. Since this company is one of the largest banks they have a specific process. Knowing how to navigate their corporate structure is very important so make sure you have a very experienced Short Sale Realtor. Not understanding this process can lead to delays and potentially a Short Sale denial.
BMO Harris Short Sales
Harris is not quite as large as Wells Fargo but they tend to be very common in this area especially on 2nd loans or liens. This is another servicer / bank I have had a lot of experience with. My experience with them has been very good and they tend to be very reasonable with their processes and timeframes when processing a Short Sales in Romeoville and the surrounding areas.
Romeoville Short Sales
Romeoville Illinois is area that has a high percentage of distressed home sales which includes both Bank Owned Foreclosures and Short Sales. Since Jan. 1st 2012 there were a total of 454 sales. Of those sales 97 of those were Short Sales, roughly 21%. Of those 454 sales 194 were Bank Owned Foreclosures, roughly 43% of all the sales in 2012. Unfortunately the Bank Owned Foreclosures out sold the Short Sales. This is upsetting because Illinois is a judicial foreclosure state and the bank has the right to pursue the homeowner for the difference. By successfully completing a Short Sale in Romeoville Illinois you put yourself in a situation where you can negotiate and potentially get your liability removed completely or reduced substantially.
To get more information in regards to pursuing a Short Sale on your Romeoville home contact Ray Kennedy with Keller Williams Preferred Realty, 708-620-4460. Learn your options and the many benefits that a Short Sale has over a Judicial Foreclosure.
Keller Williams Preferred Realty
Illinois Real Estate Broker | Realtor