SHORT SALE IS A STRATEGY
FOR YOUR TRAGEDY
Considering A Short Sale? We Can Help!!!
IT IS ABSOLUTELY FREE – NO ATTORNEY FEES, NO COMMISSIONS, NO CLOSING COSTS OUT OF YOUR POCKET – BANK PAYS ALL COSTS!!!
Get to know Nona Lisitza
Full-time + Career Realtor, Lifetime Inductee of Century 21 Honor Society, consistent
Centurion Producer in the region, and Top Producer of Century 21 M B Real Estate. I’ve completed over 150 short sales as a Listing/Selling Agent or Negotiator, represented sellers and buyers in conventional real estate transactions and been an investor and a homeowner for many years. I'm blessed to have a great team of professionals such as buyer’s agents, attorneys and clerical assistants who are terrific at what they specialize in.
I've helped many local homeowners whose homes or rental properties had dramatically declined in market value and were "under water" or "upside down." I got them out of that situation by doing a "Short Sale." Amidst the current economic decline and real estate price collapse, approximately 50% of all homes changing hands in our local market recently are "Distressed Sales." About 35% are “Short sales” and about 15% are foreclosures.
A short sale is a much better alternative than foreclosure. The term "Short Sale" is used to describe a sale where the debt owed against a property combined with the costs of its sale exceeds the current property's market value. Unfortunately, many homeowners across the country keep finding themselves in this difficult position for the past few years. Almost every one of them has same question: “What should I do – try to modify my loan, short sale my home or just let it go into foreclosure?”
The goal of a loan modification is to reduce a homeowner's mortgage payment and make that payment affordable.
This may sound bizarre to you and contrary to how a loan modification is supposed to work, but not every bank will offer a loan modification that lowers a homeowner's mortgage payment. Some banks will offer a loan modification that increases the payment.
Also be aware that some banks are offering a temporary loan modification. This means that a bank will not agree to make a permanent reduction of your mortgage payment, but may instead offer the temporary one such as asking the homeowner to make new reduced payments for the term 3 to 6 months. However, at the end of the term, the bank is also free to say: “Thank you for the money you’ve sent, but your loan modification was declined and we’re going to proceed with foreclosure”.
Here are the reasons why a “Short Sale” is the best solution:
* Most of the times the deficiencies ARE WAVED and homeowners owe NOTHING after short sale is settled.
* The homeowners most likely will qualify for relocation assistance between $3,000 & $30,000 (depending on their lender & financial hardship) at the time of the closing especially if the property was their primary residence.
* A new mortgage can be obtained 2 years after the short sale.
* A credit score will only decrease by 50-80 points.
* A short sale will not challenge most security clearances or employment.
* A short sale may prolong the length of time for the homeowners to stay in their homes significantly.
* It is absolutely FREE – No attorney fees, NO commissions, No closing costs out of your pocket – BANK PAYS ALL COSTS.
Foreclosure is the worst of all available options. There is no sense going into foreclosure when the property could be sold. Even if the home owner is not facing foreclosure, but holding too much debt relative to the decreased value of a property, it makes sense to restructure out of the precarious situation. The best way of getting out is a “Short Sale”.
FORECLOSURE IS A VERY SCARY WORD AND IT SHOULD BE AVOIDED AT ALL COSTS!!!
Here are the reasons why:
** Most of the times deficiencies are NOT WAVED and the lender can get a judgment against you for money you owe on the mortgage plus all other costs such as penalties, foreclosure attorney fees, foreclosure real estate commissions, title company fees and other closing costs.
** A foreclosure will totally ruin your credit. Your credit score will be lowered by about 300-400 points or more which will make it extremely difficult if not totally impossible for you to get any loans, credit cards or even rent a property for 10 years.
** Poor credit can cause job loss for individuals with a security clearance and affect the ability to get a job. It also can create an inability to purchase anything utilizing credit for long periods of time.
Always obtain legal and tax advice before making a decision between a loan modification, short sale or foreclosure.
Please remember, a short sale can be a long and tricky process and it is essential that you list your home with an experienced Realtor who knows how to get it done!
We are Certified Short Sale Specialists who helped others and can help you.So, where do I start? All it begins with a simple phone call.
Always obtain professional legal and tax advice.