Moving is Stressful for Distressed Homeowners
Homeowners worry about where they will live after a short sale. They worry their credit will be ruined and they wonder if anyone will rent to them. Steve and Alma Korshak of Short Sale Facilitators in Casselberry, Florida have successfully worked with homeowners to answer questions about life after a short sale.
Move Out Day Is Negotiated in a Short Sale
Alma Korshak has dedicated herself to negotiating short sales for the last seven years. Working out of her office in Casselberry Florida, Alma helps homeowners negotiate short sales and their relocation needs. She will work with the buyer and his/her agent and the lenders to negotiate a final move-out day.
Will a Short Sale Ruin my Credit?
Credit ratings depend on many factors. How was your credit before the short sale? Have you made regular mortgage payments, or are you behind? Have you been able to pay your HOA fees and your credit card and utility bills? Your credit rating comes from more than just your ability to pay your mortgage. All your payment history is considered. That is why it is so important to contact Short Sale Facilitators as soon as you decide a short sale is the best option for you.
Who Will Rent to Me after a Short Sale?
Landlords have experienced the same challenges in the housing market that you have. They may be more understanding of your situation than you might imagine. Many families that once owned homes are now renting. You are not the only person who has experienced a foreclosure or a short sale. If the landlord has questions about your credit report, answer them honestly. A landlord wants to know who he is renting to and wants to know you are able to pay the rent and you will take care of the property.
When Do I Have to Move Out of my House?
Short Sale Facilitators will negotiate how quickly you need to move after the short sale is complete. Do not feel you must move out before the short sale is complete. In fact, it’s often much better for the seller to remain in the home until after closing so the property does not sit empty and fall into disrepair. Remember you are responsible for the home until the sale is complete. When Alma Korshak meets with you, she will discuss the time you need to move out of your home and will negotiate in your behalf. It is wise to plan ahead. Once the short sale is complete, you must be prepared to move.
Who Will Pay My Moving Expenses?
Some federal programs that offered relocation assistance expired, but many lenders may still negotiate a relocation credit to the seller. It is important to have an experienced negotiator like Alma Korshak on your side to work out the details surrounding how and when you must move. Short Sale Facilitators will work hard to get any relocation assistance available.
Can I Afford to Hire A Short Sale Negotiator?
Relax. The seller is not required to pay Short Sale Facilitators any fees. The buyer pays all fees at closing.
What If I Am Not Sure About a Short Sale?
Call Alma Korshak at 321-397-5505 to schedule a meeting. Alma and her staff will meet with you to answer any questions you have. They will explain the order and timing of everything.
Short Sale Facilitators is located conveniently in Casselberry, Florida. We negotiate Florida short sales and out-of-state short sales as well. At Short Sale Facilitators of Florida, every client is a priority.
Negative Equity Still a Problem
Nationally, homeowners are regaining equity in their homes, but Florida still lags behind. Over 28% of Florida homeowners are still underwater.
In the past, buyers were frustrated with short sales and shied away from them. In south Florida, investors started paying cash for short sales and foreclosed properties. The average buyer could not compete. Those trends are changing. Home prices are rebounding while the numbers of available short sales have decreased slightly. Many buyers have a renewed interest in short sales as the only option for buying a home they can afford.
Why Choose a Short Sale?
Distressed homeowners are often at the end of their rope and think it might just be easier to allow the bank to foreclose or to file bankruptcy rather than to go through the hassle of a short sale. Steve and Alma Korshak of Short Sale Facilitators in Casselberry, Florida encourage homeowners to think about their credit before making that decision. The impact to your credit can be much less with a short sale than with a foreclosure or a bankruptcy.
The First Step in a Short Sale
First, you must contact a realtor to list your short sale. Alma Korshak recommends you deal with a realtor that has experience working with short sales. But she also understands you may have a relationship with a realtor you trust and that is okay, too. Short Sale Facilitators work with realtors every day to manage the hassles of a short sale. They will keep both you and your realtor informed every step of the way.
Do I Tell the Bank about My Short Sale?
You may have been dealing with your financial situation for a long time and getting that call from your bank asking why you haven’t been making payments can make you feel uneasy. Just be honest. Tell the lender you have asked a realtor to help you short sell your home. The lender does not want to foreclose on the property if a sale is possible – even if it means the bank gets less money than you owe. This is where the knowledge and experience of strong negotiators will benefit you.
Short Sales Can Be Complicated
Do you have a second mortgage? Is there a lien on your property? Are your HOA dues overdue? Are you living in your home? Has your home been vandalized? Short Sale Facilitators has the knowledge and experience to respond to all your concerns. They will work to negotiate the best outcome possible based on the details of your short sale.
Short Sale Facilitators of Casselberry Florida has been negotiating only short sales for the last seven years. Alma Korshak and her team will work closely with you to answer your questions and detail all the documents you need to provide. They will work with your realtor and the buyer’s realtor and each of the lenders involved. All at no charge to you, the seller.
Call 321-397-5505 to meet with Alma Korshak in her office in Casselberry FL. Let Short Sale Facilitators help reduce the stress of your short sale.
Realtors Get Help with Short Sales
Florida realtors may not want to list short sales because the process is a long one and can definitely be full of twists and turns. But there is help available. Short Sale Facilitators in Casselberry Florida understands the time involved to bring a short sale to closing.
It takes experience and patience to negotiate the terms of a short sale. Alma Korchak and her team have negotiated only short sales for almost seven years and they understand the process and the hurdles very well.
In the video Short Sales Can Be Time Consuming for Realtors, you will hear attorney Steve Korshak discuss the benefits of realtors working with Short Sale Facilitators to negotiate their client’s short sale property.
We Help Realtors Negotiate Short Sales
In order for a short sale to take place, the property must be listed for sale. Rather than deal with all the long negotiations, let Short Sale Facilitators handle all that for you – always keeping you well informed. We will negotiate with the lender and handle the communication between the buyer, the lender, the seller and the agent.
Realtors Rely on Commissions
Realtors often ask, “Will I still get my commission?” The answer is Yes. The realtor’s commission is paid at closing. The buyer – not the realtor, pays Short Sale Facilitator’s fees. We want to make the process easy for you by doing what we do best – Negotiating Short Sales.
Short sales take much longer because more people and more institutions are involved. There may be multiple lienholders and all must approve the short sale. This is where our strong negotiating skills will help. We will handle the negotiation and the paperwork and keep you in the loop all the way. No one wants to see a buyer walk away. It can happen, of course, but if someone is paying close attention to all the detail, it minimizes the risk for everyone involved.
Short Sale Facilitators of Casselberry, FL can take away the stress many realtors feel when confronted with negotiating a short sale. Call Alma Korchak at 321-397-5505. We want to work with you on your short sale so you get back to the business of listing and selling property.
Paperwork Needed for a Short Sale
Don’t be surprised when you hear how much paperwork will be required to short sale your home. It can be overwhelming without someone help you sort through it. Steve and Alma Korshak of Short Sale Facilitators, located in Casselberry, Florida, are ready to help you every step of the way.
A short sale is often the last step before the bank forecloses on your home. Since the short sale represents a loss to the bank, the lender will require that you prove you cannot pay your mortgage. This means lots of paperwork. You may be asked to continue to provide some paperwork every month until the short sale is finished.
What Happens in a Short Sale?
Your lender, the bank you pay your mortgage to, must agree to accept less money for the property than you actually owe them. A short sale requires a buyer for your home. Some people get confused by that. It is not like a foreclosure where the bank takes ownership of your home because you did not pay your mortgage. Even though it is a lot of paperwork for you, the buyer and the lender, the property is actually sold – not just given back to the bank.
How Do I Start a Short Sale?
When you meet with Short Sale Facilitators in their office in Casselberry Florida for the first time, you will be asked why you cannot make your payments. They will want information about your income, your monthly bills and your tax returns, but keep in mind all of this is necessary so they can negotiate with your lender.
At this meeting, you will be told what paperwork is required to before the negotiations can begin. It can be a lot. It is important that you give your short sale processor everything they ask for as quickly as possible.
Short Sale Documents
To get started, you will need some or all of the following paperwork:
- Title Search or Tax records – We will order these records
- Mortgage statement with your bank’s name and your account number
- HOA form – this will contain all the contact information for your Homeowners Association if you have one
- Two months recent bank statements – all pages even if blank
- Two months of pay stubs showing your year-to-date earnings
- Unemployment wage page that shows how much you receive each month
- If on Social Security, a benefit letter that shows how much social security you get a month
- Monthly utility bills for all utilities that you must pay each month
- If you own a business, we need your profit and loss statement, two months of bank statements that show your company name and two years of signed tax returns.
- W-2 forms
- Hardship letter that tells the bank why you can no longer pay your mortgage
- Divorce papers showing the settlement if you gave divorce as a reason in your hardship letter.
- If hardship is due to a death, a death certificate will be needed.
- Form 710, Uniform Borrower Assistance Form
- HAFA RMA form
- IRS form 4506T
How Long will My Short Sale Take?
It can take months. The word ‘short’ in short sale has nothing to do with the time it takes to complete the short sale. It means that the sale price is ‘short’ of the amount owed to the lender.
A strong negotiator will stay on top of your short sale. And it is important that you give them everything they need. If you do not, you run the risk of your short sale getting set aside by the bank while they wait on the paperwork. Some documents may be required every month for as long as the short sale takes. Be patient and know that someone is working to negotiate for you.
What Will a Short Sale Cost Me?
Short Sale Facilitators does not charge a fee to the seller for negotiating a short sale. Any fees are paid at closing, but not by the seller.
There is a lot of paperwork. And it takes a lot of time. That’s why it is so important to have a strong negotiator help you through it. Call Alma Korshak at (321) 397-5505 to schedule a time to talk through your options to short sale your home.
Housing Market Recovery Too Slow for Some
Alma Korshak and attorney Steve Korshak of Short Sale Facilitators of Florida make it a priority to monitor the fluctuations in the housing market. Even with a somewhat upward trend, many homeowners are still unable to manage the cost of owning a home in this economy.
The latest housing news offers hopeful statistics. According to recent figures released by Florida Realtors, distressed property inventory is down. Sales are up from a year ago and the median sales price of a home in Casselberry, FL is showing an upward trend. Combine those figures with slightly improved employment numbers and on the surface, the outlook looks promising. Unfortunately, for some, it may be too little too late.
Statistics may point to some recovery in the housing market, but many homeowners still struggle to stay on top of their mortgage payments. RealtyTrac.com reports over 17,000 homes in Casselberry, Florida, currently in some stage of foreclosure. In February 2014, the number of homeowners receiving a foreclosure filing was 5% higher than in January. While there are some initial signs of a recovering market, the crisis is not over.
Unemployment remains a reality for many homeowners. Without a steady source of income, it may be impossible for homeowners to keep their home until the market recovers. Stressful situations such as divorce, devastating illness or death may drastically change the financial landscape of a family. Is there a second mortgage? Are there HOA fees due? In such cases, a trend toward recovery may not mean much. They need help now.
Can I Still Short Sale My Home?
Alma Korshak of Short Sale Facilitators can help you arrive at the answer that is right for you. Sometimes a short sale is the best solution, but every case is different. The decision to short sale your home is not an easy one, but for many, it may the only way to prevent foreclosure or even bankruptcy.
As with any financial decision, it is important to seek guidance from ethical professionals. A short sale requires the knowledge and experience to negotiate effectively with the lenders, realtors and attorneys involved. Do not be afraid to ask questions of anyone offering to negotiate a short sale for you.
It is important to watch out for scams when considering a short sale negotiator. There are some red flags to consider:
- Beware of anyone that requires payment to short sale your home
- Do not sign anything you do not understand
- Question anyone that asks you to sign over the deed of your property in advance of final closing
- Beware of anyone who asks you to make a mortgage payment to someone other than your mortgage company
- Honest, ethical companies are open about their backgrounds and encourage your research
Work with someone you trust. Recently, a Henderson, NV couple received a fraud conviction in the short sale of their home. They allegedly executed a cash sale to a family member while the continuing to live in the home. The transaction resulted in a loss of $170,000 to the lender and a lawsuit. No one should try to be his or her own negotiator.
Short Sale Facilitators has been in Casselberry Florida for seven years. If you want to come in with all your paperwork we’ll sit down with you and help you figure out where you should start.
Is a Short Sale the Best Solution?
Alma Korshak and the team of professionals at Short Sale Facilitators know what to ask to make that difficult decision. They have the knowledge and experience to answer your questions and explain what is involved in the process. Remember, a short sale does not mean the sale will take a short amount of time. It means the negotiated sale price is short the full amount of the loan. Most short sales take weeks if not months to complete. A strong negotiator is necessary to facilitate the paperwork and stay the course to achieve the best outcome for the seller.
Every situation is unique. The decision to short sale a home varies from one individual to another. Call Short Sale Facilitators at 321-397-5505 to schedule an appointment. Alma and her team of Florida short sale staff can take care of the hassles while you take care of your family. Alma will work on any short sale, anywhere in the U.S.
Don’t Be Afraid of a Deficiency in a Short Sale
Short sales sound like a great idea to sellers until they hear the word deficiency. But what every seller who may face a deficiency has to realize is that the amount is less than what is owed on the home originally and Short Sale Facilitators of Florida are negotiating with lenders on the sellers’ behalf to eliminate the short sale.
In a short sale, most sellers have a home that is worth less than what is owed to the lender. That’s a house that’s under water. This is known as a deficiency: the difference between what a seller owes a lender and what the seller can get on the fair market value for the house.
Well they really don’t have much of a choice because the value is what the value is. You can’t sell the home for more than what it’s worth. That’s not realistic.
The Lender Decides the Deficiency
The lender decides what they’re going to accept. But on a short sale the lender gets to decide what it is and if there’s less money brought in through the sale than what is owed, there will be a deficiency.
But Alma tells sellers not to obsess over the deficiency. Every lender is different and Short Sale Facilitators of Florida has been very successful in eliminating the deficiency by negotiating with the seller.
Goal: Lender Waives the Deficiency
“Our main goal for sellers is yes, to have a lender, the short sale lender waive the deficiency,” Alma Korshak said. “That’s our ultimate goal. Do we know that right away? No! But normally you will see that once it goes through it often gets approved.
“Once it goes to their underwriting department and they review then that’s where it will state on the approval letter, ‘OK, we’re waiving our rights to pursuing you for a deficiency.’ They’ll waive that in the letter.
“We want everyone to be happy when they’re done with a short sale. We want everybody to get as much assistance as possible for the seller. And the buyer and realtor as well.
Cash Contribution From the Seller
And if there is a deficiency, the lender wants it as a cash contribution at closing or they may say – especially when there is a mortgage insurance company involved in the sale, because they’re the ones who are guaranteeing that the seller will be paying the lender after the sale—it’s like insurance.
Or there may be a couple things that the lender wants. They may say, OK bring cash at closing and we also want you to sign a promissory note for the deficiency.
Zero Percent Promissory Note
“But we wouldn’t just accept that final deficiency,” said Alma of Short Sale Facilitators of Florida. “What we would do is we would go and turn around and process this file challenge that amount and try to get a reduction. A reduction either in the prom (promissory) note or in the cash at closing.
“We don’t just accept what they’re offering us! We would then go back to the short sale lender and say, ‘here, we want to offer you this; will you take this much?’ We want to give you this instead of cash at closing and I will want less in that prom note.
“I then talk with the seller once we hear from the lender that if that’s the case and that’s what they want and to the realtor and also to the seller, mister seller this is what they want to offer you. They want a cash contribution for this much or they want a prom note. And these are the terms.
“And a lot of the time the prom note is zero percent. But they normally do not charge you a percentage rate. It’s normally no percent interest on say $10,000 or $20,000 and it’s for 10, 20, 30 years spread out with no other payments.
Alma said that the lender just wants the prom note for $10,000. “The reason we can’t tell you is that it’s just we don’t know. If we had a crystal ball and we could predict the future we would know but unfortunately we can’t.”
You Won’t Know Until the Short Sale Approval
“And you’re not going to know what’s going to happen until you get close to the approval,” Alma said. “So let’s say you have to go find the cash, maybe you’ll borrow it from a relative. A lot of our clients go and borrow the funds from a friend or a parent. A lot of the clients choose the cash vs. the prom note. They want to take the cash at closing because they just want to be done with the property. They will see if they can just come up with the cash.
“And then a lot of times when you can’t get the cash and you have to take the prom note, and you have to be ready to make that choice. The cash or the prom note. Which one is going to be more beneficial for them? And understand we will be working with the lender so that we are reducing that amount of the prom note as much as possible.”
The lesson from this is that a seller shouldn’t be afraid of a deficiency because there is no telling what the outcome of the deficiency will be because no one can predict:
1. the sale price of the home
2. the original deficiency set by the lender
3. the amount of the deficiency negotiated down by Short Sale Facilitators
4. the ways to eliminate the deficiency
–cash from seller
–zero percent promissory note
–waiving the deficiency
Short sales take a lot of work because of the amount of paperwork, documentation, and deadline-driven activities that must be done carefully. There are lien documents, homeowners associations fee, taxes, bank statements. The gathering of paperwork involved is as much as needed with the taking out of a new home loan.
However, when that initial short sale paperwork is turned over to the Short Sale Facilitators, the homeowner’s work is done.
The big fear, which is real, is that there will be a huge deficiency. This is where having experienced negotiators on your side is imperative. Short Sale Facilitators will negotiate with the lender reduce, eliminate or refinance the deficiency at low interest rate.
A deficiency is the amount of money that a seller may have to pay to the lender if the short sale home sells for less than what’s due to the lender.
In 2001, a new study re-evaluated the findings of the 1967 research done by psychiatrists Thomas Holmes and Richard Rahe who published a Social Readjustment Rating Scale. The scale weighed life events that affected the well being of the population.
- Jail sentence
- Death of an immediate family member
- Immediate family member attempts suicide
- Getting into debt beyond means of repayment
- Period of homelessness (hostel or sleeping rough)
- Immediate family member seriously ill
- Unemployment (of head of household)
- Break-up of family
- Death of a Spouse
Three of the list involve financial hardships and economic realities that can be devastating.
Short Sale Facilitators of Florida
Short Sale Facilitator owner and negotiator Alma Korshak has one primary reason for helping consumers navigate the challenges of a short sale: She has a genuine desire to help people.
A recent search engine result yielded over 20 million results for the phrase “I need to short sale my home in Orlando”. How do you choose someone knowledgeable with the skills necessary to help you in this process?
Keeping up with the laws and legal implications of a short sale in Central Florida can be a full-time job and a very important one. Legislation changes, programs expire or may receive extensions. Alma Korshak and Steve Korshak of Short Sale Facilitators specialize in facilitating and negotiating short sales throughout the state of Florida. They stay on top of these changes for you.
A short sale takes a specific skill set and refined negotiation skills. Lenders can reject short sale offers; buyers can balk at the time period required and walk away from the deal. A strong negotiator can minimize those risks by streamlining the process.
Is a Short Sale Negotiator Necessary?
Every short sale is different. The type of loan, payment and credit history, available equity in your home, your employment, outstanding HOA debts, payment penalties and second mortgages are important factors when considering a short sale.
According to RealtyTrac.com, there are currently over 17,000 properties in Orlando, FL in some stage of foreclosure. Those statistics give you some idea how important it is to have a professional negotiator representing you when dealing with lenders, attorneys, realtors and potential buyers.
Call 321-397-5505 to schedule a consultation with Short Sale Facilitators. Let Alma Korshak and her team of skilled professionals minimize your stress and negotiate the terms of your short sale for you.
Short Sale Facilitators talks with families, businesses and individuals who have been through some very tough times in the last seven years in Florida. Usually when someone has heard of a short sale it sounds like a decent option but there are a lot of questions about how the short sale works.
Common short sale questions:
- How long does a short sale take?
- Will there be any way to “get rid” of the home when the value is so low?
- How can I pay off a deficiency?
- Will you talk to the bank for me about the liens on the property?
- I haven’t paid my HOA fees; will they foreclose on me?
- If I just got a lis pendens can I still do a short sale?
- When you say that you can work with pre-foreclosure, what is that exactly?
Short Sale Facilitators has the answers to these questions and more. And one of the first things we’ll tell you is to relax. We’ve done short sales for years. Short Sales are our business and we’ll take care of everything for you.
Low Property Value Common in Short Sales
Some of the common problems that property owners have across the state deal with a huge drop in home values due to the horrible real estate market and the economy.
Since the bottom fell out of the real estate market, the short sale has become a very popular way to sell a home without having to become involved in an expensive foreclosure lawsuit.
If the papers have come already and you’ve been served a lis pendens which is formal notice that a foreclosure lawsuit will be filed, it’s not too late to get out of the house with a short sale.
The challenge is to call Short Sale Facilitators quickly so that the short sale process can begin. There is a lot of paperwork you’ll need to gather–that’s it. PULL it together for us, turn it over and then, we do all the work.
Working Out the Deficiency Issue
Below is a situation a homeowner had and we got the home sold and the debt off the homeowners’ back so that they could have a peace of mind:
Last month I made the decision to sell my townhouse based on the following factors. I have a pending knee replacement and possible back procedure.
Since the townhouse is two stories, it has become more difficult to go up and down the stairs. Upon receiving a contrac from a potential buyer I requested the payoff for the mortgage listed above. Unfortunately, it was $20,000 higher than expected because I had received a loan modification in November which had deferred that amount from the principal. However, since I was now planning to sell it, that deferred amount was going to be added back onto the principal which meant I would have owed $14,000 at closing!
Since I cannot sell the house for what I currently owe, the only alternative I have is to go through a short sale.
Short Sale Facilitators will negotiate with the lender to get the deficiency worked out. It cannot always be eliminated, however, there are low-cost loans to homeowners that are available. Some lenders allow it, others do not. It depends on how much and many other issues including the actual lender.
Don’t worry about the deficiency. There are closing funds available, there are moving out (relocation funds) that we can locate for you. When you work with us, we work hard for you.
The best part is that you don’t pay a penny. Homeowners, realtors, lawyers pay nothing. The buyer pays our nominal fee at closing. So give us a call and set an appointment. Of course we’ll ask you to get your paperwork together so get started on that now. But we’ll still meet to get the process going.
If you want to see the options available to you based on your property, then call 321-397-5505.
There are few things less attractive in the real estate industry than short sales for realtors. Why? Because in short: short sales are a very big responsibility. The negotiations, the paperwork, the liens, the communication that are required for short sale often require that realtors go above and beyond to get the property sold.
Realtors sell and list properties. That’s the business. But Short Sale Facilitators knows that in this challenging economy that short sales are popping up all over the place.
Realtors take the listings, but will not be able to tackle all the negotiations with the bank. THAT will be left up to the seller who has to appease a lender when the home is sold for less than what is owed.
That’s OK, though. There is no need to worry because when you contact Short Sale Facilitators, the seller and the realtor can turn the short sale work over to us.
Short Sales Can Be Time Consuming for Realtors
Attorney Steve Korshak an owner of Short Sale Facilitators, explains in a video called “Short Sales Can Be Time Consuming for Realtors,” which may be seen on the Short Sale Facilitators YouTube Channel.
“I want to talk to you about short sales, yes, and the short sales which can be very time consuming,” Steve said. “Short sales need attention to detail, a full-time person or team dedicated to making the short sale happen.
“Short sales take babysitting. A short sale can take you away from selling or listing a property. So instead of tackling this yourself, you should consider leveraging yourself by working with us.
“Short Sale Facilitators has handled only short sales for almost seven years and we’re very skilled and attentive to all details. You can comfortably let us handle your short sale because we keep you informed. Take a short from clients you would like to help, and let us handle it for you.
“You won’t lose money because all the work, we do all the work. The buyer pays our nominal fee. And you earn your commission when the home sells. We’ll negotiate for you and track down all the paperwork. We track down and monitor leans. You’ll know everything that we do about the file. We communicate with the bank, the buyer, the seller and with you.
“We even have a program which can help you generate additional income by helping us provide a BPO. Let us help you help your clients.
Call Steve Korshak with Short Sale Facilitators if you are a realtor, a seller, a homeowner, or a lawyer who would like to have a short sale executed and negotiated and tackled by a team who is paid a nominal fee by the BUYER. Call to make an appointment at 321-397-5505.
There are many people who contact Short Sale Facilitators for help in a short sale under many different circumstances. There are families who have to sell homes for many reasons usually economic from job loss, overwhelming debt due to medical bills, sudden illness.
No matter what the reason, sellers, lawyers, realtors bring properties to our team so that we may begin the negotiations that will get the property off the backs of people who no longer want the property.
When the property is prepared for sale, all of the debt, the liens, loans, taxes, homeowner association fees are determined before the property is put on the market.
When the liens are clarified by the Short Sale Facilitators’ team, the home is put on the market.
After the sale, if by chance the home is sold for less than what is owed, the deficiency is negotiated down by our team of skilled negotiators. The goal is to not owe any money, but home sold through short sale often sell due to upside down scenarios where the property is worth less than what it was purchased.
Here’s a situation that is typical of clients who contact Short Sale Facilitators. Many sellers are stressed out and afraid, certain that nothing positive will come from selling the property. Below is an actual hardship letter from a client seeking help that we were able to provide.
To Whom It May Concern:
We want to participate in the short sale for cash incentive program. I purchased my home in 2004 at the time myself and my wife were in the mortgage industry and making significant income to cover our mortgage.
On January 18, 2008, our company closed and we were both unemployed. We used all our savings and assets to try and keep our home. We could not find employment. We tried modifying and still could not afford the payment that they offered.
My wife ha been diagnosed with an auto immune disease and is unable to work. I have then a job as a long distance truck driver. My income is not enough to afford our home any longer.
We have listed the house with brokers who specialize in short sale programs. We would like to salvage our credit and help the mortgage company to get their money. Please help us resolve this and avoid foreclosure.
Your help is greatly appreciated.
This seller is under duress, hoping for good news, and seeking the best possible price and negotiation help with the mortgage. For answers to the questions that you’ve got about short sales and how to sell your home through short sale, contact us at 321-397-5505. We work with short sales across the country, not only in Florida.