Having to Short Sale your home – First Steps
ByLet me work this question backward. Notice of Default is what would happen if you were unable to make your payment on your mortgage. The Note Holder (Bank) would have someone record a piece of paper at the Hall of Records that says you have defaulted on your payment to the bank on your home, condo or other real estate investment. When can this happen, it could be done at the very moment it is being deliquescent. But that is not usually the case due to maybe the payment being mailed, processing time and other factors could cause the payment to arrive late. If a notice of default was recorded at that early stage, then the bank would have to expend money to have it removed as well. That could be quite costly. So most banks use some judgment in when they place the Notice Default on a property and have it recorded. Having said that, it used to take a lot longer than it does now. With so many properties not having their mortgages paid, that has causes the Banks or mortgage holders to have itchy trigger fingers. So they do it a lot sooner than they once did before.
If you are unable to pay a mortgage due to some kind of hardship or something happening in your life that has made it impossible for you to pay your mortgage don’t be too hard on yourself. Not too long ago, short sales in Real Estate were not very common. In fact, it had to take all of the variables in this Real Estate market to date to create the venue for the Short Sale once again.
Here is how they work. You cannot make your payment. Usually on the first, if you have a first and a second, the second is usually a wash, but the first is the position that we have to try to get to play ball with us. The more you contact the bank after you have not been able to make your payment, the harder they attempt to lean on you to get you to make even partial payments. That is their job, they are going to do whatever it takes to collect that debt from you. If you are in that position and something, Death, Divorce, Disease, job loss, or some other factor has cause you not to be able to make your payments, call us so we can bring you in and discuss your options.
We are very well versed at the short sale process and have helped a lot of people through this process and have helped make a lesser of an impact on their credit than a foreclosure. Also, a Whole Lot less than a bankruptcy.
What does it take. We have to sit down and discuss your options. We have to make sure you under the negative credit implications of conducting a Short Sale, we have to also let you know that we will be dealing with the bank from the point where you are under contract with us and to the point the property closes escrow. You need to let us handle the whole thing and handle it we will. We will make sure your bases are covered and all things will go very smoothly for you. We also need to find out what you are going to want to do after we have sold your home. Have you made other arrangements for renting or moving in with someone else? We need you to think all of these things out.
A Short Sale is not for everyone – But they are part of this current Real Estate market in a big way.
Also, if you owe more money on your property that it can be sold for in the current market and think you have no choice but to walk away, there is the best chance that we can help you out of your current situation.
Paris and I are specifically trained in the Short Sale process and their negotiations with the banks. We have proven our place amongst the various mitigation departments of the 10 largest banks and note holders - and we can help you!!! You will have a damaged credit rating, but not for long – This is a much better option than foreclosure.
We will provide this service to you for free, the bank will pay our fee, so it is off your back. Don’t forget this as well, it is against the law to charge a homeowner, if they occupy one to four units in the process of foreclosure, in advance for work that will help them with the foreclosure process and possibly avoid or lessen said foreclosure.
How do we get paid, after escrow closes – Again, it is your bank that pays our regular commission fees, If we cannot get this done, then we are without a commission and loose too – So as you can see it is in our best interest that this works out and closes escrow.
You can check back to this location often under the tab of short sales to find out other information about what is going on in the current market.
If you think this is something you want to consider – Call Connor at 661.400.1720 or Paris at 661.400.3680 or drop us an e-mail at connor@paris911.com and or paris@paris911.com. Also you might want to contact us more sooner than later – The banks have been quicker to change locks and lock folks from their homes with not very much time having lapsed!
Don’t forget all COMMUNICATIONS ARE ALWAYS KEPT STRICTLY CONFIDENTIAL! – CONNOR with HONOR
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This is a great idea and will help both the Realtors and buyers. Nothing worse than a buyer at the closing table feeling
buyer’s remorse.
wrongful foreclosure
We are notably pleased that you have come upon this webpage about effects of mortgage foreclosure.