What Is A Short Sale?
In simple terms, a short sale is transaction in which the bank(s) accepts a discount on their mortgage to allow a sale, and thus avoid foreclosure or bankruptcy.

For example:

A homeowner who is facing foreclosure has an existing first mortgage of $500,000.  The market value of the home is $350,000. The Lender/Servicer agrees to accepts an offer from a new buyer for $350,000 and wipes out $150,000 in mortgage debt, and the home is sold. $500,000.00 – $350,000.00 = a negative <$150,000.00> In this case, $150,000.00 is the SHORTage that the Lender/Servicer is will to accept in this SALE. In actual practice, a Short Sale is one of the most complex transactions in the Residential Real Estates market right now and makes up 70% of all the residential sales volume right now. So make sure you work with MortgageFixers® the seasoned professionals.

What are the Advantages of a Short Sale?

Less Damaging to Credit Rating:
A Foreclosure will damage your credit rating for 5 years; a Short Sale is less damaging and its effect last only 2 years.

Major Banks are Encouraging Short Sales over Foreclosure:

Fannie Mae (FNMA) recently changed their underwriting policy so that a past home owner now has to wait 5 years after a Foreclosure before they will purchase a it from a Conforming Lender and not many lenders are holding their own Portfolios these days. If the homeowner conducted a Short Sale the seasoning time is 2 Years, with reestablished credit.

Probable Relief from HELOC 2nd Mortgage:
When the 1st Mortgage Bank forecloses, the 2nd TD HELOC loan is not deleted from your debt and may become unsecured debt (like a credit card).The HELOC Mortgage Lender may take legal means to collect their debt after the Foreclosure. With a Short Sale, we work with both lenders. In most cases we can highly reduce or totally eliminate the HELOC loan debt.

An Amiable Solution:
With a Short Sale, you sell your home. It’s an amiable resolution to a tough situation.

Much Shorter Delay to Renewed Mortgage Loan Credibility:

We have a referral network of Credit Restoration firms. These firms have been able to make major improvements to the credit ratings of past homeowners like you; it’s not a quick fix but it will help you to achieve Lender Confidence in a shorter time if you want to purchase another home.

Our Value Guarantee

We have been involved in Real Estate Loss Mitigation for over 25 years. We understand and know the details of Real Estate and Real Estate Law, Mortgage Finance; the Private Money Debt market and Structured Finance. We guarantee accountability.