With unemployment figures in the double digits, many people in Fort Myers area are finding it increasingly difficult to manage their financial situations.  We’ve had people ask us what their best options are when it comes to relieving this stressful situation.  With bills mounting and mortgage payments relentlessly looming over your shoulder every single month, sometimes it may seem that there is no way out.  While every situation is different, most cases we see qualify for a short sale.  Here is some of the information you need to know.

What is a Short Sale?

A Short Sale is a Lender’s voluntary acceptance of less money than is owed to allow a property to be sold as an alternative to foreclosure.

Why would a home owner opt for a Short Sale over a Foreclosure?

Simply put, a Short Sale will prevent a foreclosure from appearing on the homeowner’s credit report. If the home is foreclosed on and the mortgage company is not able to sell the home for what is owed on it and recoup all of their costs, the homeowner is still obligated for the difference. In addition, the Lender will tack on the arrearage, interest charges, legal fees, listing charges, and maintenance costs of the home while it is up for sale. Our goal in a Short Sale is to convince the lender to release the homeowner from their mortgage without additional responsibility. Furthermore, we look to negotiate the terms of the settlement to “Paid as agreed” which minimizes credit implications. Most importantly, we help you avoid foreclosure and its devastating impact on your credit and your life.

Why would a Lender approve a Short Sale?

If the Lender believes the Short Sale offer is better than what they would net if they took the property back at foreclosure and sold it themselves, they will most likely approve a Short Sale. The costs of taking a property back in foreclosure are tremendous for the Lender, including accrued interest, attorney’s fees, listing charges, and maintenance costs. Simply put, banks are not in the business of moving or maintaining properties.

Why shouldn’t I attempt the Short Sale myself?

In order to begin the short sale process, you must have a buyer for your property. The beauty of working with us is that our team actually buys the property from you. Our team is the buyer of your property, so we can begin the process immediately. Also, Short Sales are notoriously a long and arduous process. You can spend hours and hours gathering and submitting paperwork and waiting on hold to hear from any number of committees. In order to be successful with Short Sales, you must devote a huge amount of time to them and know the process inside and out.

What do I have to do?

To get started you have to contact us directly and mention that you are interested a short sale. Call us at 239-963-4811 or contact us via our web contact form.

Ok, What’s the Catch? How much is this going to cost the me?

Not a penny! There are absolutely no fees or costs to the homeowner.

How do I know if I qualify for a Short Sale?

You can answer these 3 simple questions to get a better understanding if you qualify for a Short Sale.