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What is a Short Sale?
In a Short Sale, a financially insolvent homeowner who is facing possible foreclosure sells his home for less than the value of what is owed on the existing loan. The lender accepts the sale as payment in full for the loan. A Short Sale process is not a get "out of jail free" card. There could be some tax liabilities issues even if the Banks accepts and allows the property to be sold as a "Short Sale". I always recommend that the Homeowner consult their financial adviser prior to contacting me to assist them with their distressed property issues.
With Today's Market and ever changing Interests Rates, many Home Owners who purchased Real Estate a few years ago with a variable rate mortgages,(ARM's) Zero Down loans, or even sub prime loans are realizing that those interests rates are resetting and some are actually doubling, even tripling your original monthly Mortgage Payments, making it very difficult to keep up with the payments. Maybe a devastating event in the home owner's life, recent loss of job, or a divorce can have a serious financial repercussions, making the monthly loan payment an insurmountable financial issue.
In Today's Maui market, many areas and communities have also dramatically dropped in value, and currently are worth over $100,000 less now than when they were originally purchased making refinancing not a viable option.
Here's a secret: Lenders are in the Business of LENDING not owning, so they do not want to foreclose on a property. It costs them more time & money and are require to keep a reserve of funds which is money they can not loan out. Foreclosures cost Lenders up to $40K and up in costs, fees and taxes.
I am a trained Short Sale Expert. My team will negotiate with Lenders and submit your hardship circumstances to them to allow us to sell & market your Home at a prices less than whats currently owed. This option is highly recommended for Homeowners than going through a complete Foreclosure or Bankruptcy which could damage your credit rating score for up to 10 years. Doing a Short Sale will affect your credit scores but not as much as a Foreclosure. Most Homeowners are able to rebuild their credit scores again within a few short years .
Contact me Today and find out how I can help save you from a very difficult financial situation.
Available anytime, always here for you,
Hector M. Yepis R(S)
Short Sale Expert
South Maui Real Estate Consultant
Keller Williams Realty Maui
(808)250-6396 Direct
Info@ShortSalesMaui.com
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Maui Homeowners are feeling the dramatic effects of the current "economic" turmoil. It is quickly becoming more & more of a harsh Reality for some homeowners that they cannot continue the way things are currently heading. I am talking about a Monthly home mortgage they no longer can afford to pay. In the recent past few weeks, I have received many calls from Homeowners seeking my assistance from what they are calling a "Black Hole" Mortgage. The Home they are paying for is now worth LESS than what they bought it for a few years ago. They are seeking an exit strategy from their home, condo or investment property, in lieu of imminent foreclosure. The first option I suggest would be to approach the Bank who holds the note on their Mortgage and see if they can qualify to refinance to a fixed rate mortgage and a lower interest rate. This would be the best option, if it can be done. When that option is not available, another option would be a "SHORT SALE". This option could possibly apply to Homeowners who are currently suffering from some sort of FINANCIAL HARDSHIP. But it MUST be a HARDSHIP. A hardship can be anything from loss of a Job, Businesses closing or relocating, dramatic or financial collapse of personal assets, corporate downsizing, loss of income due to Illness or death, increasing larger monthly mortgage payments due to variable interest's rates adjustments and many other personal factors. I am a "Short Sale Specialist" on the Island of Maui. I am trained to assist homeowners who ran out of Options and would like to avoid LENDER FORECLOSURE. Today banking Institutes are tightening the restrictions on "SHORT SALES" and also limiting the opportunities to utilize this process of "Cutting the cord" of a distressed property. Short Sales are NOT A GUARANTEE by any means. The Banks will probably still start the Foreclosure process if you become delinquent with you Mortgage payments. Just because you can't make your monthly Mortgage payment, doing a Short Sale is not a "GET OUT OF JAIL" Free card. There will always be a possibility that you will lose your home or Investment if you do not make your agreed monthly Mortgage payments. Short Sales take time. It is not a quick fix solution. Some Short Sales can take 60, 90, or even 180 days or more. Some Short Sales have even taken as long as a year. Be prepared to WAIT...and wait...and wait. During this process, Buyers will sometimes lose interest or find another property. Especially with the recent passage of Act 137, the Mortgage Rescue Fraud Prevention Act (MRFPA), that was signed into law by Governor Lingle on June 3, 2008. This law significantly affects REALTORS with regards to the sale of a "distressed property," as defined by the Act. They require much more disclosure issues and really limit the ability for Realtors to assist the Homeowners in the role that they play. That is why many Realtors today, will not take on any "SHORT SALE" listings. Luckily for you here on Maui, we still do have Realtors who will be there to help Distressed Homeowners, and I am one of those Experienced Short Sale Realtors. Please call me and I will be happy to meet with you to discuss this matter more. Doing nothing WILL NOT make the pain or stresses you are feeling go away. It all starts by picking up your phone and calling me. (808)250-6396 Always here for you, For all your Real Estate needs on Maui, Please call me and I will be happy to assist you or any of your referrals from you. Mahalo Please Call me! Hector M. Yepis R(S) Real Estate Consultant (808)250-6396 http://www.ShortSaleMaui.com/ Keller Williams Realty Maui 1819 S. Kihei Road, Suite D-110 Kihei MAUI HI 96753 (Each Office Independently Owned & Operated)
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E komo Mai' Welcome! Aloha, my name is Hector M. Yepis and I am a Real Estate Consultant here on Maui who specializes in Real Estate from Maalaea, Kihei, Wailea & Makena including Beach Front Luxury Homes & Condos all over Maui. I have built this website to better support my clients and their ever increasing need to be kept well informed of the current Maui Real Estate market. I have enjoyed being a Realtor here on Maui for over 4 years and have helped numerous Home Owners, Investors & First time Buyers in transactions to Buy & Sell their Homes, Condos and Vacant lots here on Maui. I am very experienced with the Listing and Purchasing side of any Escrow, including First time Home Buyers, Short Sales, Vacation rentals, 1031 Exchanges, Vacant land, Beachfront/Oceanfront/Ocean view, and Luxury Homes & Condos here on Maui. I pride myself on keeping up with the local statistics including all Active Listings here in South Maui. My constant & daily routine of looking for properties that would be of Interests to my Exclusive clients and setting up emails automatically notifying them when a property matching their specific search parameters appears on the MLS(Multiple Listing Service). This website is one of the most advanced websites currently available for Top producing Realtors like myself that will help keep my Exclusive clients & their properties in the fore front on the Internet to achieve maximum exposure to Home Buyers all over the world, including being automatically uploaded into many of the top Internet Real Estate search websites, so that they will sell faster and we can get the maximum dollar for them! This website also keeps my Exclusive clients who are seeking to purchase here on Maui notified of any properties that are specific to their needs through the automatic notification process, so that they will know faster than other similar potential Buyers seeking the same properties, allowing us to view them sooner & allowing us an opportunity to make offers on them first! If you are seeking an Experienced Realtor who is dedicated to finding you and your family one of the most important purchases you will ever make in your lifetime, put your trust in me. I have very good communication skills that keep you informed throughout the entire transaction process and have a team of Experienced Associates to be able to "get it done" in a timely and efficient manner. I humbly ask you to contact me and use my skills, knowledge & expertise to help you in ANY Real Estate transaction here on Maui. References available. Always here for you, Hector M. Yepis R(S) Keller Williams Realty Maui
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• 750 sq. ft., 1 bath, 2 bdrm single story -  MLS® $229,950 - Upstairs Corner Location Kihei Villages, Kihei - Cozy partially Upgraded corner Unit in a quiet Upstairs location. Hardwood floors, good rental Unit.Walk to beaches, close to All. East access to Highway and S. Kihei Road. Priced to sell. Stop wasting your hard earned income by Paying rent and become an Owner! Great starter condo in nice family complex. Must Sell, motivated Sellers. Call for showings. Property information Another Exquiste property brought to you by: Hector M. Yepis R(S) Real estate Consultant, Short Sale Expert Keller Williams Realty Maui (808)250-6396 Info@LivePlayMaui.com
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Great Neighborhood, Close to ALL!
• 1,616 sq. ft., 2 bath, 3 bdrm 2 story
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MLS®
$448,000
- SHORT SALE BEST BUY!
Piilani Villages, Kihei
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Welcome home to the Best of Kihei with this charming, spacious 2 story home in one of Kihei newer & nicest Subdivisions. Very well maintained. Close to all, shopping, schools, parks, restaurants, businesses and some of South Maui's best beaches. There is a waterfall/pond in back yard along with covered awning to enjoy your lanai. Many upgrades including Granite counter tops, AC, manicured lawns & landscaping, fenced yard great for children or pets with a built in sprinkler systems. After a day at the beach, rinse off with an outdoor shower. Priced to Sell. This is a Short Sale. Open House Call for dates. Bring in your BEST OFFERS!!
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LUXURY RESORT AMENITIES
• 1,720 sq. ft., 2 bath, 2 bdrm 3 story
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MLS®
$998,999
- BEST BUY OCEAN FRONT
Oceanfront, Lahaina
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ONE of the BEST VALUES on WEST MAUI! THIS IS A 3RD FLOOR UNIT in Building 1( One). There are 4 building's in this complex! Bring your Offers NOW! Sands of Kahana is now FEE SIMPLE!!Outstanding value, SAVE over $500,000K below a First floor "Active" Listing & save over $420,000K on 2 other "Active" listings in same complex.(compared @time of Listing post) This partial upgraded 2B/2B has over 1700 sq. ft. of spacious, combined living area in a very popular Luxury Beach Front condo. Spectacular ocean views, whale watching, tropical furnishings, active vacation rental program, all just steps from a sandy beach. Unit is currently Leasehold but Seller will purchase the FEE during escrow and convey Unit as FEE SIMPLE at close of Escrow!!Amenities include 3 Tennis courts, putting green, weight room, sand volleyball, 2 swimming pools, Jacuzzi , basketball court, On-Site 4 Star restaurant, gas BBQ's, hotel Conceirge, Island Activity desk, 24 hr. Front Desk & more!!. There is a sandwich lease attached to this property, Buyers Agent should exercise due diligence. BEST BUY IN THIS RESORT CONDOMINIUM COMPLEX...BRING AN OFFER!!
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