Short Sale - It might just be the answer to your problem

With the recent meltdown in the real estate market, you may find yourself in need of dire help. With so much information to absorb and so little time to do it in, you might find yourself overwhelmed. Let us help you determine if a short sale or loan modification is right for your situation. This is precisely the reason this website was put together: To connect you with companies that can help you get out of your current perdicament.

Behind on your mortgage?
Unable to get anywhere with your lender?
Concerend about having a foreclosure on your credit?

If you said yes to any of these questions, fill out the form to the right to get connected with a short sale expert.

Are you no longer able to afford your home? Perhaps you realize that even with a financial miracle your income situation has changed to such an extent that you can no longer afford the home – not just the mortgage. With too much credit card debt, your financial obligations have just been overwhelming. Sure, you might have tried on your own to sell the home for enough money to pay off not only the mortgages that are currently outstanding on the home but also to cover the expenses with the sale of such real property. Considering the softening of the real estate market, the odds are good that you have failed.

A short sale may be the answer to your problems! In such an event the lender agrees to forgive the portion of the mortgage payoff that is not covered by the sale price. In return, the borrower does all the legwork associated with the listing and selling of the real estate. Here is the short sale lowdown:

You owe $400,000 on your home and can no longer afford the payments or the home itself.
Your mortgage falls behind and is entering a pre-foreclosure period.
This is when you should contact Short-Sale411.com so we can connect you with a company that can effectively negotiate a short sale transaction for you with your lender.
The property can then be listed with stipulation that the sale is pending third party approval.
Interested buyers make offers that are submitted to you. If agreeable, offers are sent to the bank for their approval. For example, in the above example an offer may come in at $350,000. You submit this offer to your lender, requesting forgiveness of the outstanding $50,000.

The odds are good that the lender will accept this short sale and agree to the $50,000 loss. While this might appear magnanimous on the lender's part, it is actually a very shrewd financial consideration. After all, bad loans look bad on the books and the lender knows that you are a far more motivated seller who will stage the property and do everything right to squeeze out the maximum amount of profit from the short sale. At an auction, the same property is likely to fetch a lot less and thus the actual loss may actually be even higher if the lender were to insist on foreclosure instead of consenting to a short sale. Add to this all the fees that are associated with foreclosure proceedings and auction sales, and it makes perfect sense for any lender to favor a short sale any time.

Borrowers will have to give up their home, but they will come out of the transaction relatively unscathed as far as the credit report and FICO scores are concerned. After all, a foreclosure is a serious problem on a credit report whereas a short sale simply appears as a mortgage payoff. Of course, getting the lender to agree to the short sale in the first place requires serious negotiating which is where we come in. Fill out the form to the right to get started.