Short Sales
WHAT: The period of declining home prices that we are currently in has opened the door for a new option to sell your home where otherwise you would not have been able to. If you truly cannot afford your mortgage payments, your lender(s) may be willing to accept a sales price that is based on the current market value of your home and not what you owe. Selling your home through the short sale process means that you sell your home for less than what you owe. Right now the number of foreclosures in the country is higher than it has ever been in the history of the housing market. What does this mean for you? The bank does NOT WANT to foreclose on your home….but they WILL if they have to. They would much rather accept a short sale Why you ask? Simply each and every foreclosure can cost the bank anywhere from $20,000 to $60,000. The costs simply keep adding up. Legal fees, taxes,
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insurance, deferred maintenance, lost interest and additional processing fees all are a part of the cost for a bank to foreclose. On top of all that the bank must repair, market and sell your home at the current market prices which most likely will continue to decline over the next twelve to thirty-six months. At the end of the day the the bank does NOT want to foreclose on you. They would prefer to minimize their loss by accepting a short sale. But the process can be a daunting one. Our professionals can help navigate the maze of paperwork, phone calls, policies and bureaucratic procedures that your lender will require in order to allow a short sale to be executed on your home.
HOW LONG: The typical short sale takes anywhere from 60 to 120 days depending on your bank. The process is simplified as best as we can here.
REQUIRMENTS: The Team at HomeContinue will provide you with the necessary guidance and execution to help solve your mortgage problems, however, we make it very clear that all of our clients show a level of commitment in assisting in the solution process. As a client of HC you have a responsibility to gets documents that are executives need in order to execute your transaction. This requires that you get the following documents to us and that you agree to update these documents until your sale is complete.
• 2006 and 2007 W-2’s• 2006 and 2007 Full tax Returns• Last 30 days of Pay Stubs*• Last 3 Months of Bank Statements*• Last Mortgage Statement(s)• HomeContinue Short Sale Documents• All Mortgage and Legal Documents**-We will require that you update these documents as you receive them throughout your HomeContinue process. Paystubs, Bank Statements and All mortgage and Legal correspondence updates are required to be forwarded to HomeContinue as received. They may be emailed, faxed or mailed.
PRICING: There is absolutely never a fee for our services in completing your short sale. We get paid at the closing by your lender.
BENEFITS: The HomeContinue system was built to solve problem yet will provide our clients with so much more. Here are just a few of the benefits of “The HomeContinue Way”.
• Avoid foreclosure• Avoid bankruptcy• Credit Restoration and Repair Services• Clarity on your housing situation• Peace of Mind• Education that can be built upon• Rental Relocation Program• Better understanding of your finances• A second chance
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