Did you lose your current job due to lay off's, business closings, cut backs or illness? Are you suffering from a valid hardship due to the current economic crisis sweeping America, and no longer have a steady source or maybe even a significant decrease in income? Did you fall behind on your monthly mortgage payments or HOA dues and don't know if you can ever catch up? Do you owe more on your Home or Condo than it is currently worth in Today's market place?? Have you've tried to get a Loan Modification only to find out you can't or don't qualify? Are you at risk of losing your Home due to your Bank starting the process of foreclosure or court auction? Are you considering filing for Bankruptcy or even just "walking away" from your property? If you answered "Yes" to most of these questions, you can be a good candidate by doing a "SHORT SALE". Our Team of highly trained Professionals help people like this everyday and we can help you too! Let us help remove the "stress & anxiety" which is commonly associated with these types of situations. WHAT IS A SHORT SALE? Short Sales are an Option for insolvent Home Owners who have become excessively late paying or delinquent with their monthly mortgage payments and are unable to afford to continue to make those payments. Short Sales allow the Home Owner to negotiate with the homeowners Lender to accept less than what's currently owed on the loan and sell the home and avoid credit damaging consequences, such as Foreclosure or even file for bankruptcy. These negative options could result in years of personal credit rating damage and up to 100 - 150 point credit score reduction compared to a slight credit hit of about 40-50 points with a Short Sale. A Home Owner can realistically repair the credit blemish within a shorter time frame than the 7-10 year minimum credit scar from Foreclosure or Bankruptcy. A WIN, WIN SITUATION: With a Short Sale, Lenders can avoid the unpleasant event of Foreclosing on a Home Owner and the additional expense that goes along with the whole process. Lenders are willing to accept less and release the property instead of taking back possession of the property. This is a Win, Win for both the Home Owner & the Lender. The Home Owner is allowed to get out from a mortgage that they are unable to continue to pay and the Lenders doesn't have to go through the expense and time needed to foreclose on a property. Why do Home Owners default on their loans? There can be many reasons why a home owner defaults on their loan, both market based and personal reasons. Here are just 7 possible reasons for default. - Home Owner has secured a Sub prime loan. Sub prime loans are loans made to consumers who are economic risks to Lenders. According to the Center for Responsible Lending, one in five sub prime loans issued in 2005-2006 will result in foreclosure.
- Adjustable Rate Mortgages(ARMs) can be problematic for Home Owners. At specific time intervals, it resets to match the current interests rates. With Todays ever changing rates, this could mean dramatic changes in mortgage payments, making them harder to pay.
- Zero down loans mean zero equity at closing. If anything goes wrong, the home owner has no equity to fall back on.
- The home owner may have lost a job or gotten divorced.
- A devastating event in the Home owners life can have serious financial repercussions.
- Market shifts with price declines compound all these issues. If the home is worth less, the homeowner may be unable to sell the home in order to cover the balance of his loan, especially if he has little or no equity.
- The homeowner has refinanced a few years earlier and unable to make the new mortgage payments with increasing interests rates.
A SIMPLE SOLUTION IS JUST A PHONE CALL AWAY: If you find yourself in this more increasingly commonly situation and are looking at a possible foreclosure or even considered filing Bankruptcy, there are options you can take that can avoid you having to go through that negative and very stressful event. I have a program of 8 steps that I will explain and show you how to save your credit and remove that monthly commitment of an over priced mortgage payment so that everyone wins at the end. I will look at all your options and explain everything in detail so that you are aware of every step along the way. My Team will negotiate on your behalf with the Lender and show you what needs to happen in order for the Lender to accept your property as a Short Sale. With my extensive marketing techniques, I will market your property at a competitive price and screen all offers and submit them to the bank. My Team of Experienced Professionals will help make this a very stress free event by maintaining constant communication with the lender and keeping you the Homeowner informed along the entire way of the transaction until we close the deal. DON'T WAIT! Get yourself out of this stressful situation with just one phone call. My Team will contact your Lender and get the ball rolling. Time is of the essence. The longer you wait and fall behind, the less time you have to market your property successfully. CALL ME or email me TODAY for a No-Obligation Free Consultation. Our service is FREE to you, the Lender pays US after we help you!!! Don't wait until its too late!! We Do "Short Sales" anywhere in the State of Hawaii. |