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AVOID FORECLOSURE Whether you have lost a job, experienced a divorce, are dealing with health issues, or you are experiencing financial problems like many other good, honest people in the same situation, there is a way for you to get out from under the debt. YOU CAN STOP FORECLOSURE! - ARE YOU "UPSIDE DOWN" ON YOUR PROPERTY? - IS YOUR ADJUSTABLE RATE MORTGAGE (ARM) ADJUSTING TO A HIGHER INTEREST RATE YOU CAN NO LONGER AFFORD? - ARE YOU UNABLE TO REFINANCE YOUR HOME? - DO YOU OWE MORE ON YOUR HOME THAN IT IS NOW ACTUALLY WORTH? - ARE YOU TRYING TO SELL YOUR HOME "FOR SALE BY OWNER" (FSBO) BECAUSE YOU DO NOT HAVE ENOUGH EQUITY TO PAY A REALTOR COMMISSIONS? YOU DON'T PAY US A DIME TO SELL YOUR HOME .....THE BANK PAYS US AT CLOSING! Rather than foreclose on your home, lenders would rather help you find ways to become current on your home mortgage or approve a "SHORT SALE". A Short Sale is when a lender accepts less than what is owed on the mortgage to AVOID FORECLOSURE (the difference owed is usually forgiven) (reference "Mortgage Forgiveness Debt Relief Act" via www.irs.gov). A SHORT SALE can SAVE YOUR CREDIT, whereas a FORECLOSURE will destroy your credit for years. In addition, the bank pays all commission and approved closing costs. Hire a CERTIFIED SHORT SALE SPECIALIST who will list your property for sale and negotiate details and loan discounts with banks so YOU CAN BE FREE OF THIS DEBT. If you are ready to resolve your financial burden and sell your equity-deficient home, CALL SHERI PERRY TODAY. A: Short sale is a process where a negotiated settlement is made between the lender that holds the mortgage and the seller for a third party buyer usually facilitated by a professional like a Realtor or an Attorney, even before the foreclosure process in initiated by the lender. Therefore it is considered a pre-foreclosure sale. "Short" simply means, the payoff amount agreed to in the transaction is just that...shorter than the mortgage balances owed on the property. The lender agrees to accept an amount "short" of what is owed to satisfy the total amount actually owed. Q: WHY SHOULD YOU USE A REALTOR® TO REPRESENT YOU? A: Most lenders prefer working with Realtors® who will make sure all the state and local real estate laws are complied with, including proper disclosures as in a regular sales transactions. Lenders don't want any future liability dealing with non-licensed Investors or consumers directly. Be aware of unlicensed individuals soliciting you asking you to pay them or those attempting to have you sign the deed over to them. This very well may be a scam. Q: WHY SHOULD YOU HIRE A REALTOR CERTIFIED AS A SHORT SALE SPECIALIST? A: It is not mandatory to hire a specialist however, "time is of the essence" in a pre-foreclosure situation to prevent your property from foreclosing. You want a Realtor highly experienced in closing short sales and negotiating with lenders. Short Sales are very time consuming and involve much paperwork and negotiating. You want to interview the agents you are considering hiring and don't be afraid to ask for references and ask how many Short Sales they have sold. Ask for details and how the process works. Do they advertise? Can they afford to advertise? Do they spend money on any publications, classified ads, magazines, websites? Are they a full time or part-time agent and are they able to handle all the work and phone calls the short sale involves? If you do not feel the agent is confident and/or competent, hire a Realtor you feel will get the job done. This is your financial well-being, peace of mind and credit at stake. Q: DO YOU NEED TO MOVE OUT OF YOUR HOME DURING THE COURSE OF THE SHORT SALE PROCESS? A: NO! Stay in your property until it sells. Your lender would rather you remain in the property and maintain the lawn, utilities, etc, if financially possible to allow for an easier sale. Abandoning the property may result in someone vandalizing the property, inability to sell, etc. It is best not to move out and spend your money on rent. Save as much as you can to get back on your feet again. Q: HOW LONG DOES THE SHORT SALE PROCESS TAKE? A: Once an offer is actually received on your property and all necessary paperwork is submitted, the sale may close anywhere from 15 days to a year. (But usually 35 - 90 days after the offer is received). This is why lenders recommend you remain in the home...and you can save some money. However, I have successfully closed some in under 2 months after listing the property, which will allow my customers to re-buy in under a year. Once the offer was received, we closed in 2 weeks! This usually depends on how large or small the bank is. Q: DO I PAY THE REALTOR A COMMISSION OR A FEE TO LIST/SELL MY PROPERTY IN A SHORT SALE? WHAT ABOUT A NEGOTIATION FEE? A: NO. You are unable to make the mortgage payment for many unfortunate reasons. Therefore, to quickly sell the property "short" of what you currently owe, the lenders will pay the Realtor's commission at closing. Nu Home Finders, Inc. does not charge the seller any fees in association with a short sale. If you have any further questions or would like to schedule a FREE private consultation, feel free to call or e-mail. (863) 838-5756 or nuhomefinders@usa.com
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