AVOID FORECLOSURE NOW!
UNDERSTAND YOUR OPTIONS!
UNDERSTAND YOUR OPTIONS!
If you become delinquent on your mortgage you will receive tons of information some not so subtle suggestions, from many people who want to take advantage of your temporary misfortune. They will attempt to scare you by telling you that time is your enemy and that you must act immediately to save your credit. This will normally be followed by a proposal to solve your problem by suggesting that you sell or deed your property to them.
BEWARE!!!! DON'T DO ANYTHING UNTIL YOU UNDERSTAND YOUR OPTIONS!:
Deed In Lieu - "Friendly Foreclosure"
Reinstatement - Bring The Loan Current
Loan Modification - Modify Original Loan Terms
Refinance - New Loan With Reduction In Payment
Forbearance Agreement - Temporary Repayment Plan
Sell Your Home - Use Equity To Pay Off Or Pay Differnce In Loan Amt.
Short Sale - Negotiate w/Bank To Accept Sale For Less Than What is Owed
Reinstatement - Bring The Loan Current
Loan Modification - Modify Original Loan Terms
Refinance - New Loan With Reduction In Payment
Forbearance Agreement - Temporary Repayment Plan
Sell Your Home - Use Equity To Pay Off Or Pay Differnce In Loan Amt.
Short Sale - Negotiate w/Bank To Accept Sale For Less Than What is Owed
What is a short sale?
A short sale is an alternative to foreclosure. If the sellers have a legitimate and verifiable hardship, the lender may agree to sell the property for less than the amount owed and the bank agrees to release the lien.
How does a short sale benefit the seller?
1. Seller will eliminate the mortgage debt without the expense of needed repairs to get the property sold.
2. The seller is able to stay in the property until the process is completed.
3. CLOSING COSTS & COMMISSIONS ARE USUALLY PAID BY THE LENDER.
4. The seller avoids the negative effect of a foreclosure on thier credit report.
5. LESS STRESS, MORE PEACE OF MIND!
How does a short sale benefit the bank?
1. The property is maintained in good condition by the homeowner until it sells.
2. The lender avoids paying the high fees associated with the foreclosure process.
3. BOTTOM LINE...THE BANK DOES NOT WANT YOUR HOME BACK!
How does a short sale benefit the buyer?
1. Buyers are able to purchase a property below market value which results in immediate equity.
2. The property is much better maintained than a foreclosure property and needs fewer repairs.
A short sale is an alternative to foreclosure. If the sellers have a legitimate and verifiable hardship, the lender may agree to sell the property for less than the amount owed and the bank agrees to release the lien.
How does a short sale benefit the seller?
1. Seller will eliminate the mortgage debt without the expense of needed repairs to get the property sold.
2. The seller is able to stay in the property until the process is completed.
3. CLOSING COSTS & COMMISSIONS ARE USUALLY PAID BY THE LENDER.
4. The seller avoids the negative effect of a foreclosure on thier credit report.
5. LESS STRESS, MORE PEACE OF MIND!
How does a short sale benefit the bank?
1. The property is maintained in good condition by the homeowner until it sells.
2. The lender avoids paying the high fees associated with the foreclosure process.
3. BOTTOM LINE...THE BANK DOES NOT WANT YOUR HOME BACK!
How does a short sale benefit the buyer?
1. Buyers are able to purchase a property below market value which results in immediate equity.
2. The property is much better maintained than a foreclosure property and needs fewer repairs.
How To Start The Short Sale Process
1. CALL TODAY FOR A FREE CONSULTATION TO DETERMINE IF A SHORT SALE IS RIGHT FOR YOU!
2. If you qualify, the property is placed on the market for sale.
3. Necessary documents are gathered and a hardship package is forwarded to the bank with an offer.
4. The file is reviewed by the bank and investors, once approved the file moves to closing.
Tax Consequences Of A Short Sale
If the lender agrees to the short sale, the lender may possess the right to issue you a 1099 for the shorted difference, due to a provision in the IRS code about debt forgiveness. Many situations are exempt from debt forgiveness, according to the Mortgage Forgiveness Debt Relief Act of 2007. You should speak to a real estate lawyer and a tax accountant to determine the amount of short sale tax consequences, and whether you can afford to pay those taxes, if any.
At The Atlanta Property Shoppe, we have an experienced team of Short Sale Experts. Our COMMISSION IS PAID BY THE BANK, BUT WE REPRESENT YOU! So you don’t have any out of pocket expenses during this process.
Click here to see the impact of foreclosure on your life versus the effects of a short sale.
Click Here to learn the benefits of have a short sale expert represent you.
Our short sale portfolio covers the Atlanta metro area including; Buford, Duluth, Lawrenceville, Dacula, Buckhead, Brookhaven, Vinings, Smyrna, Dunwoody and Sandy Springs.
At The Atlanta Property Shoppe, we have an experienced team of Short Sale Experts. Our COMMISSION IS PAID BY THE BANK, BUT WE REPRESENT YOU! So you don’t have any out of pocket expenses during this process.
Click here to see the impact of foreclosure on your life versus the effects of a short sale.
Click Here to learn the benefits of have a short sale expert represent you.
Our short sale portfolio covers the Atlanta metro area including; Buford, Duluth, Lawrenceville, Dacula, Buckhead, Brookhaven, Vinings, Smyrna, Dunwoody and Sandy Springs.
CALL US TODAY AT FOR A FREE CONSULTATION!
DONT LET TIME RUN OUT!
Atlanta Property Shoppe at
Keller Williams Realty
Office: 404-419-3500
Direct: 404-419-3696
Fax: 404-419-3501
www.MyLifeWithoutForeclosure.com
www.AtlDistressedPropertyExperts.com
DONT LET TIME RUN OUT!
Atlanta Property Shoppe at
Keller Williams Realty
Office: 404-419-3500
Direct: 404-419-3696
Fax: 404-419-3501
www.MyLifeWithoutForeclosure.com
www.AtlDistressedPropertyExperts.com
