SHORT SALES - PRE-FORECLOSURE SALES - PRIVATE SALES - COMPROMISE SALES
Homeowners......."Price Your Home To Sell with the Short Sale Solution"
A successful short sale negotiation will prevent a homeowner’s need for a foreclosure or bankruptcy. Depending on how it is negotiated, a short sale can satisfy a loan balance in full and have no adverse effects on a person’s credit file.
“Short Sales” are a negotiated settlement or workout wherein the Lender, having considered a formal Short Sale proposal from Financial Relief Solutions (FRS) consistent with the lenders internal criteria and procedure plus additional leverage and knowledge that we utilise, will then agree to accept less than the full payoff amount due from You (Borrower). The bottom line is a “Short Sale” workout program permits a qualified homeowner to sell a property irrespective of the amount owed and to settle for less than what is owed to the Lender/Mortgage company. They do this as an alternative to the expensive and time consuming process of foreclosure. Each mortgage company has their own set of processes through which they decide whether or not to accept a short sale, and while there are many similarities, each has its own requirements for approval.
Financial Relief Solutions (FRS) acting as a third party mediator, has a distinct advantage in negotiating with your mortgage company. We have developed effective and streamlined solutions to working out Short Sale transactions. We have the capability, knowledge and more important the Experience that can assist the homeowner in getting a successful Short Sale approval. Countless homeowners have experienced inflexibility from their bank/lender. We will get the bank/lender to listen to your needs because we know what we are doing. Period. This kind of experience gives us credibility with many lenders. They know the amatuers from the professionals. Our integrity, professionalism and experience allows us to negotiate on a level playing field with a few advantages. We use our experience and connections to the homeowners advantage. The Bank/Lender may accept, reject, or make a counter offer to our Proposal. But it does not end there. Hint: If your current or prosepective short sale co or negotiator asks the bank what will they accept...you have the wrong one!
Our process is simple. Just fill out the forms and documents that we provide for you. Among them will be a Short Sale package to be completed in full. These are the requirements for considering and approving a Short Sale. Once they are completed and given back to us we will start your case immediately. This is just the begining. We will actually build a solid case for your Short Sale Approval using knowledge and experience that we have in addition to the standard document submission to your lender/bank. Other companies or individuals just submit the documents and hope and wait... We don't. We are proactive and we work for you the homeowner and with your realtor. Once the request is approved, appropriate documents will be forwarded for your signatures. Terms must be agreeable to You, (the Seller) and the decision to proceed will be Yours.
Our successful “Short Sale” negotiation requires extraordinary professionalism from your real estate broker (yes, we'll work with your realtor); and cooperation from you the Owner, The Buyer, and the Lender and will obviously prevent the homeowner from going into a foreclosure which will have a 7 to 10 year statute of limitations on it and any homeowner having a foreclosure on thier record will find it extremely difficult if not impossible to get a mortgage financed during that period of time. Our successful Short Sale will also prevent the homeowners need to file bankruptcy which has a statute of limitations for 10 years on a persons credit record for that period of time. Financial Relief Solutions (FRS) successful Short Sale program can satisfy a loan balance in full and have no adverse effects on a person’s credit file. see ---> Using Anti-Deficiency Laws as Leverage in Residential Short Sale Negotiations.
STEP ONE - Contact Us (877) 717-6759 or email us at Shortsales@FinancialReliefSolutions.com
Visitors to our web site often tell us about their frustrations in contacting and dealing with their lender. If you have tried, it was probably an exasperating experience. Finding the right number and/or department is often very tough. We recommend using a professional negotiator when communicating with your bank about a short sale. If you are using a professional negotiator, such as Financial Relief Solutions (FRS), something we strongly recommend, we will do all of the leg work for you. In addition to listing your home for sale by short sale, a consultation with a company such as Financial Relief Solutions (FRS) who specializes in foreclosures, short sales and loan modifications is necessary. We will review your current financial situation and offer advice and options on how to proceed including handling all conversations and negotiations with you lender.
STEP TWO: - Put Together Your Short Sale Application/Package
If you decide you want to move forward with a short sale, an application to your lender is the next step. We will work with you on this step. Each bank has different requirements for their application. Your professional negotiator Financial Relief Solutions (FRS) has information about this and can help you. We will review and submit your short sale application/package to the appropriate person/department at your lender’s company.
STEP THREE: - List Your Home For Sale
This is where your Real Estate agents extensive skills and knowledge come into place. Some agents list the home first and have you do steps 1 & 2 after the home is listed. We feel it is important to start getting your ducks in a row first. Below are the basics of what should be done in Step three:
* Your Realtor should come to your home and gather information needed to help determine your home’s value.
* They will give suggestions on how best to stage your home to attract a home buyer.
* They'll answer any real estate questions you have at that time and go through the sales process.
When you are ready to put the home on the market, usually a few days after our initial appointment, your Realtor will meet with you and/or us and review the information they’ve gathered on your home’s value. Together we will determine the asking price. They'll take pictures of your home and finalize the listing paperwork. Once completed, your home will go on the market.
STEP FOUR: - Communicating With Your Lender
This is an on-going process from beginning to end. The purpose of the communication changes over time. If you are using Financial Relief Solutions (FRS) to handle your communications, we will make the calls and update you on any progress, needs or changes. We will review and negotiate purchase offers that come to the table. Our goal is to find an offer that has the best shot at being accepted by your lender. We may want to negotiate with the Buyer to make the offer more viable. In addition, due-diligence should be done on the Buyer to make sure they are qualified to buy your home and willing to wait for the bank to respond to their offer. The ultimate decision to accept an offer is yours and we will be there to offer our thoughts, advise and concerns.
Our goal is to find the best offer possible to submit to your lender and get agreement from the buyer to stay in the game for the time it takes the lender to respond. Since this can be 60-90 days or longer, it is an important step.
STEP FIVE: Lender Accepts Your Application & Buyer’s Offer
Let’s say the lender says your application has been accepted and they also approve the purchase offer we submitted. Please understand that the time frame to this step varies by lender and 2-3 months is not uncommon. That said, two distinct things will now happen:
Lender and mortgage holder (you) or your representative (Financial Relief Solutions - FRS) begin negotiating the settlement of the mortgage agreement. The lender may ask you to contribute cash to make the sale happen. They may ask you to sign a promissory note. Or they may not ask for anything else at all. There are a variety of options in this negotiation.
The second item is the transaction between you and the person who made the offer on your home. We'll help with this part of the job and update you each step of the way. NOTE: Sometimes a buyer will walk away from the deal before the lender has given the nod to move forward. In this case, it is very important we try to find a new offer ASAP. We will be in contact with the Buyer’s agent on a weekly basis and advise you of any changes. Financial Relief Solutions (FRS) will keep you updated on the progress of your case. Our dedicated staff continually updates all clients throughout the entire Short Sale process. We are always available to answer any questions, call or email us at any time. Read Short Sale tips at www.Homeretention.Org or read our FAQ.
"Dont Let Things Happen To You... Make Them Happen For You!"
The Team At Financial Relief Solutions (FRS) 877-717-6759
(877) 7copyright 2010 Financial Relief Solutions. All rights reserved.
