We Help Homeowners and have a very high success rate and have performed thousands of short sales successfully. We have added this service with no additional cost to you. We are experienced realtors specializing in short sales and we work closely with a loss mitigation company, your house will be priced to attract buyers AND satisfy your lender!
Working with experienced agents is critical. Without experience, your file can easily become one of hundreds going through your lender's system. And if not packaged correctly, stating information that the lender finds satisfactory, your deal can be declined.
There are many reasons to pursue a short sale, but among the most common are:
(Short Sale vs. Foreclosure)
1. It may be less detrimental to your credit report. Instead of stating "foreclosure", your report can read "settled for less than full balance." or "Short Sale" And later when you are purchasing a new car or home, you will not have to check the box that says, "Foreclosure in the last 7 years."
*If you do a Short Sale you loose 180 points on your FICO score. Even that can be waived by an attorney so nothing shows up on your credit report.
*If you go through a foreclosure you loose 400 points on your FICO scores. That makes getting any kind of loan, even a used car loan, almost impossible.
2. Occasionally, attempting a short sale may slow the foreclosure process down allowing you to remain in the property for longer. Conversely, if you no longer live in the home and wish to speed up the process, I will be able to accomplish this as well. In NJ we can prolong the foreclosure date to up to 608 days thus buying you valuable time.
3. In a law that was passed in 2007 the discharged debt (forgiven debt) will Not be taxed on your 1099. This law is valid until 2012. That is why you should do a short sale NOW.