MAUI SHORT SALES & A REALTOR WHO KNOWS HOW TO DO THEM!

By
Real Estate Agent with RE/MAX Island Properties RB-21158

Maui Homeowners are feeling the dramatic effects of the current "economic" turmoil. It is quickly becoming more & more of a harsh Reality for some homeowners that they cannot continue the way things are currently heading. I am talking about a Monthly home mortgage they no longer can afford to pay.

In the recent past few weeks, I have received many calls from Homeowners seeking my assistance from what they are calling a "Black Hole" Mortgage. The Home they are paying for is now worth LESS than what they bought it for a few years ago. They are seeking an exit strategy from their home, condo or investment property, in lieu of imminent foreclosure. The first option I suggest would be to approach the Bank who holds the note on their Mortgage and see if they can qualify to refinance to a fixed rate mortgage and a lower interest rate. This would be the best option, if it can be done. When that option is not available, another option would be a "SHORT SALE". This option could possibly apply to Homeowners who are currently suffering from some sort of FINANCIAL HARDSHIP. But it MUST be a HARDSHIP. A hardship can be anything from loss of a Job, Businesses closing or relocating, dramatic or financial collapse of personal assets, corporate downsizing, loss of income due to Illness or death, increasing larger monthly mortgage payments due to variable interest's rates adjustments and many other personal factors.

I am a "Short Sale Specialist" on the Island of Maui. I am trained to assist homeowners who ran out of Options and would like to avoid LENDER FORECLOSURE.  Today banking Institutes are tightening the restrictions on "SHORT SALES" and also limiting the opportunities to utilize this process of "Cutting the cord" of a distressed property. Short Sales are NOT A GUARANTEE by any means. The Banks will probably still start the Foreclosure process if you become delinquent with you Mortgage payments. Just because you can't make your monthly Mortgage payment, doing a Short Sale is not a "GET OUT OF JAIL" Free card. There will always be a possibility that you will lose your home or Investment if you do not make your agreed monthly Mortgage payments. Short Sales take time. It is not a quick fix solution. Some Short Sales can take 60, 90, or even 180 days or more. Some Short Sales have even taken as long as a year. Be prepared to WAIT...and wait...and wait. During this process, Buyers will sometimes lose interest or find another property.  Especially with the recent passage of Act 137, the Mortgage Rescue Fraud Prevention Act (MRFPA), that was signed into law by Governor Lingle on June 3, 2008. This law significantly affects REALTORS with regards to the sale of a "distressed property," as defined by the Act. They require much more disclosure issues and really limit the ability for Realtors to assist the Homeowners in the role that they play. That is why many Realtors today, will not take on any "SHORT SALE" listings. Luckily for you here on Maui, we still do have Realtors who will be there to help Distressed Homeowners, and I am one of those Experienced Short Sale Realtors.

Please call me and I will be happy to meet with you to discuss this matter more. Doing nothing WILL NOT make the pain or stresses you are feeling go away. It all starts by picking up your phone and calling me. (808)250-6396  Always here for you,

For all your Real Estate needs on Maui, Please call me and I will be happy to assist you or any of your referrals from you. Mahalo

 

Please Call me!                              

Hector M. Yepis R(S)

Real Estate Consultant

(808)250-6396

http://www.ShortSaleMaui.com/

Keller Williams Realty Maui

1819 S. Kihei Road, Suite D-110

Kihei MAUI HI 96753

(Each Office Independently Owned & Operated)

Maui Sunset

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