one of the things which we specialize in is doing a short sale to help
you sell your property for less than what is owed. With the declines in
the real estate market many homeowners are finding that they owe more or
close to what their property is worth. When this is the case, a short
sale is often the best solution for you to get out of your
(cont) One thing you
must be aware of is that if you are current on your payments you cannot
typically do a short sale. This is only for homeowners who are behind on
their payments and can no longer afford to keep the property.
if your property is currently in foreclosure, a short sale is still a
great option for you. Even though the entire short sale process can take
from 1-6 months, we can typically postpone the foreclosure sale date if
it comes up during the process.
If you have
a sale date in the next 14 days
The reason you would want to do a short sale rather let your property go
into foreclosure is to minimize the impact on your credit report. A
foreclosure will typically remain on your credit report for 7-10 years
and is viewed in a similar fashion as a bankruptcy to most lenders and
creditors. The impact of a short sale is typically much less with most
people being able to get a new loan within 12-24 months of making
payments on their other obligations on time. This is just an estimate,
and we recommend you contact an attorney before making any decision.
use us for your short sale?
Experience of over 1800 bank
Direct contact with the
representative handling your file
Have an offer within 24 hours
from one of our investors
Full service: Listing,
Closing the transaction!
Confidentiality-No signs in
your yard saying: Foreclosure, Bank REPO, Short Sale,
Personal attention and care
to each client!
"Short Sale" is a very popular term being thrown around today in real
estate circles. The same real estate agents who are claiming to be the
"experts", did not even know what a short sale was 6 months ago. A
common mistake people make is that they contact their local real estate
agent who helped them buy the house, or they have seen their signs up in
the neighborhood in order to help them with the short sale. Now why is
this a mistake While your local agent may be good at finding buyers or
marketing the property, if they do not know how to deal with the bank,
which most do not, the deal is dead in the water. At Foreclosure
Recovery Group we utilize everyone's strengths in order to have the best
team working on your side. Our process works like this:
Sign up with FRG-You sign up
with us for our services for a short sale and supply all documents which
The bank will always want to see that the property is
listed, so we take care of that for you. They also want to see an offer
before they will negotiate, we take care of that as well. When you sign
up with us one of the greatest benefits is you will have an offer from
one of our
within 24 hours which we will start negotiating with the bank with.
we stated before, real estate agents are good at showing the property
and finding buyers, so we recognize that and use their strengths to
your advantage. As part of listing with us, we partner up
with the top real estate agents in your area and they handle the
showings of the property and dealing with the buyers, while we focus on
negotiating with your bank to make sure the deal goes through. Having a
buyer means nothing, if the bank does not approve them.
Document Request & Submission-
Just like an attorney builds a case, we
do the same on your behalf and submit a package to the bank which is
anywhere from 50-110 pages about your file. We do need the homeowners
cooperation here because the bank will often ask for documents that only
you can provide. To see an example of these documents
Approval- Once we have everything we need from the homeowner we submit
it to the bank and start the negotiation process. During this time we
will closely monitor the foreclosure sale date so that the property is
not sold during the negotiation. We cannot guarantee the property not
being sold through foreclosure, but we will closely monitor it and will
do our best to prevent that.
The bank is ultimately the one that makes the decision if the deal goes
through or not and therefore it is crucial to have someone who knows how
to deal with the banks, has experience closing deals with them, and has
contacts at the banks in order to make sure things go smoothly. Real
estate agents may be good at selling property but they should never be
counted on for the aggressive negotiations with your lenders on your
behalf. Our team has the experience of over 1,800 short sales to help
walk you through your situation and make it as easy as possible. If you
are interested in hearing more about our services
to get started on getting out of your situation.