“Rumor travels faster, but won’t stay put as long as the truth.” Will Rogers

 

 

            Are short sales more difficult? Yes.

            Do you need to learn a new process? Yes.

            Are they impossible? No, No, No!

The agent who presented you with this report is a Certified Distressed Property Expert (CDPE) who has undergone extensive training in helping homeowners in distress and processing short sales. The CDPE membership organization nationally is made up of agents who receive thousands of short sale approvals on a monthly basis – don’t think for one minute this is an impossible process. While there are no guarantees in any transaction, more and more short sales are being approved monthly.

 

Really? You may have heard this; the reality is that banks (and the government) are trying to do anything they can, within reason, to avoid foreclosing on the property. To think that they would deny a Short Sale in hopes that some future legislation will pass and pay them for their loss is preposterous.

 The reality is that more banks are aggressively pursuing Short Sales and agents (like the one who gave you this report) who understand how to process them. Freddie Mac_â recently hosted a national training webinar for real estate agents where they expressly stated the organizational goal of “eliminating distressed assets through modification or short sale”. 

 

This is a myth that potential sellers hear all the time – thankfully, the reality is that today it is not. In fact, many agents are getting calls from buyers who say “I only want to look at foreclosures and Short Sales!”

 

Short Sales and Foreclosures have become synonymous – not with issues – but with GOOD DEALS. International buyers specifically are interested in these properties. If you list with the educated CDPE agent who gave you this report, you have a very good chance of seeing a contract on your property, soon.

 

It is understandable that you may have reservations about letting the world know that you owe more on your home than it is worth, however, understand that according to recent estimates, 1 out of 5 homeowners in the US is in your exact situation. You are to be congratulated for admitting you need help, taking action, and finding a professional who can work with you towards a solution.

 

With 40 to 60% of the sales in the US predicted to be Short Sales or foreclosures you are not alone!

 

We know you have heard this; you may have even heard it from an overzealous collections agent working for a lender. The reality is that banks do not want to foreclose on your property. Banks, investors and even the federal government have all publicly said that if a person is qualified for a short sale the deal needs to be considered.

 

The qualifications are:

 

Financial Hardship – There is a situation that is causing you to have trouble affording your mortgage.

Monthly Income Shortfall – You have more month than money! A lender will want to see that you cannot afford or will not be able to afford your mortgage soon.

Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage. 

 

This is a myth that probably hurts homeowners the most. Many don’t realize that foreclosure is a process and there IS time.

 

The foreclosing party (in most cases a lender) can stall and/or postpone  a foreclosure up to the final day of the process. These days many lenders will stall a foreclosure with as little as a phone call from you letting them know that you are trying to sell. Almost all lenders will stall a foreclosure with a legitimate contract, in our view there is time until the foreclosure process is complete. 

 

Give us a call today to see what options you have so you can get on the path to recovery, there are options and we can help!