A short sale in real estate occurs when the outstanding loans and liens against a property are greater than the proceeds from the sale of the home after all closing costs are paid. This occurs only when a homeowner meets the qualifications, and the homeowner’s lenders agree to allow a short sale. In the event of a short sale, a lender can release you FREE AND CLEAR from your mortgages and fully forgive you of any deficiency! In fact, the new Home Affordable Foreclosure Alternatives (HAFA) Program offers $3,000 BACK for relocation expenses, and some lenders are offering up to $5,000 as an incentive for homeowners to do a short sale.
Do you meet the qualifications for SHORT SALE HELP?
· Are you in financial hardship of any kind? This can include but is not limited to relocation, divorce, loss of income or job, major repairs needed without resources to make them, increased bills or increased living expenses.
· Are you behind on your mortgage or facing default or foreclosure?
· Can’t get your home sold due to a mortgage balance that is greater than the value of your house?
· Has your mortgage payment depleted all of your savings?
· Are you in a situation where you have to get your home sold?
If you answered yes to any of the questions above, you may have a solution!
The McKenna Team of Keller Williams Realty Homes & Estates specialize in helping homeowners who are in a difficult financial situation by offering free homeowner consultation services as well as free short sale processing. Additionally, we provide exceptional brokerage services to you which will come at no out of pocket cost to you and is fully covered in the short sale process. The short sale process is highly specialized and it is very important to have a Realtor® team, like The McKenna Team, who is experienced in working them. A weekend training class or online course will not make an agent an “expert.” Our team is one of the most experienced on Long Island and we have closed dozens of short sales.
You can seek out an attorney or law firm or a comprehensive real estate practice with the following services:
1. Discuss your situation and the short sale process in detail, explaining all of your options with you. A short sale is NOT the best option in every case.
2. Make certain they provide you with the required forms and documents from your lender that will enable them to process the short sale of your home.
3. They should be agreeable and available to answer any of the questions you may have throughout the entire process.
4. Make certain that they can and will process your short sale and list your home on the market.
5. Be sure to get a customized marketing plan, specific for short sales, in order to attract buyers to your home and help get it sold!
6. Ensure that they will work directly with your lenders to negotiate the short sale, and present all required documentation.
7. Make certain that they will, if needed, work to delay the foreclosure process while working with your lender, and possibly keep you in your home longer.
8. It is very important to make certain that they will work to get you fully forgiven of the deficiency with your lender!
Interview your prospective Realtor and make sure that they have practical and proven experience handling all aspects of short sales. Find out, specifically, how many short sale transactions they have handled and to what end.
If you decide to go the path of using an attorney to handle the short sale process for you, that is not a bad idea at all. Like the Realtor, be sure to interview your prospective attorney and ask how many short sales they have negotiated and to what end. Also ask what the typical time frame is for their work to be completed on the short sale approval.
The McKenna Team of Keller Williams Realty Homes & Estates provides these services entirely at no out of pocket cost to homeowners throughout Long Island. Please note that we are NOT Real Estate investors, like most of the online companies. We are state regulated Real Estate professionals and are here to look out for YOUR best interests! When pursuing a Short Sale only use a licensed Realtor®, as it is impossible for an investor to look out for your best interests in the transaction while trying to profit from your misfortune as much as possible.
The McKenna Team of Keller Williams Realty Homes & Estates is one of the most experienced short sale teams on Long Island. We offer free consultation and short sale services to homeowners in financial hardship throughout all of Long Island. The best part is that your lender will pay all fees and commissions related to the short sale. Contact The McKenna Team of Keller Williams Realty Homes & Estates at 631-675-0770 and ask for Cynthia McKenna to schedule a FREE, confidential, no obligation consultation.
If your preference is to use a competent law firm, The McKenna Team of Keller Williams Realty Homes & Estates works closely with a great firm, Russo, Karl, Widmaier and Cordano, at 400 Townline Road, Hauppauge, NY. You can reach them at 631-265-7200, ask for Charlie Russo.
It is important to know that this information is offered for general informational purposes and to provide a general overview of short sales as well as other topics described herein. Foreclosure laws are a legal matter. We are not a law firm and we are not here to advise you in any matter of law concerning the courts or foreclosure. You need to realize, regardless of who helps you with this process, there could possibly be tax, credit, financial and other legal consequences associated with doing a short sale. The McKenna Team of Keller Williams Realty Homes & Estates makes no representations or warranties concerning potential tax or legal consequences relating to any final disposition of any property. Clients are advised to consult with a tax professional regarding the potential tax consequences for their particular situation. The McKenna Team of Keller Williams Realty Homes & Estates is providing a service in response to a very complex situation and offers a solution where possible. The McKenna Team of Keller Williams Realty Homes & Estates is licensed with New York State as Realtors®. The McKenna Team of Keller Williams Realty Homes & Estates is not a law firm or accounting firm. However, we work closely with trusted legal and accounting professionals and can provide you with referrals for the best possible services available. The McKenna Team of Keller Williams Realty Homes & Estates strongly encourages all parties, agents and brokers involved in a transaction to seek such advice from the appropriate professional and or legal guidance.
Mortgage Assistance Relief Services [MARS] Disclosure – The McKenna Team of Keller Williams Realty Homes & Estates is not associated with the government and our services have not been approved by the government or your lender. If you stop paying your mortgage you could lose your home and damage your credit. The McKenna Team of Keller Williams Realty Homes & Estates does NOT offer short sale or foreclosure rescue services outside the state of New York. We can and will refer you to a local associate to assist, which is NOT considered a real estate brokerage service OR foreclosure rescue service as defined by the Federal Government. If you live in New York and choose to utilize our brokerage to assist, the following disclosure is required by law. You may stop doing business with us at any time you choose. You may accept or reject the offer of mortgage assistance we obtain from your lender or services. If you reject the offer, you do not have to pay us. However, if you accept the offer, you will have to pay us the commission as agreed in our listing agreement. The commission will be included in the short sale and not be an out of pocket expense to you. Your lender may also not agree to the change of your loan and/or a short sale. With a short sale there are no guarantees offered and we cannot provide legal advice. We strongly encourage ALL homeowners in hardship to seek legal counsel and tax advice where appropriate. We can provide referrals to competent and qualified professionals in each area of expertise to assist you.