The Short Sale
Foreclosure is not inevitable. If you owe more than your home is worth, a Short Sale allows you to exit the property with dignity and a faster credit recovery timeline. I negotiate with the banks so you don't have to.
1. The Exit Strategy
- Credit Preservation: A foreclosure stays on your record for 7 years. A Short Sale often allows you to buy another home in as little as 2 years.
- Deficiency Waiver: My primary goal is to ensure the bank agrees to "Paid in Full" status, meaning they cannot pursue you for the remaining balance.
- Dignified Transition: You stay in the home during the process, giving you time to plan your next move without the sheriff at your door.
2. The Hardship Package
- The Narrative: I help you craft the "Hardship Letter," framing your situation (job loss, medical, divorce) in the specific language bank loss mitigators require.
- Document Assembly: Banks will reject incomplete files. I audit your tax returns, pay stubs, and bank statements before submission to ensure a one-shot approval.
- BPO Management: I meet the bank's appraiser to ensure they understand the local market conditions and necessary repairs, justifying the lower sales price.
3. The Bank Battle
- Arm's Length: I ensure all buyers meet the strict "Arm's Length" requirements to prevent fraud accusations and delays.
- Lien Negotiation: If you have a second mortgage or HOA liens, I negotiate with those junior lienholders to accept pennies on the dollar to release the title.
- Closing Coordination: I manage the timeline between approval and closing, which is often tight, ensuring the deal doesn't fall apart at the finish line.
Confidential Case Review
Stop the clock. Let's negotiate an exit strategy with the bank.
