Short Sale Negotiation and Management
Are you behind on mortgage payments and ready to walk away from a property that’s turned into a financial problem?
Do you owe more than your home is worth? Is your property in disrepair? Are you feeling “over it?”
Being in default and watching the equity in your home disappear can be a frustrating process filled with stress and uncertainty.
Homeowners often tell me they “just want to let the bank take the home.” If you’re feeling exhausted and stressed, you’re not alone.
Before you give up though, you may want to consider short selling your home.
A short sale allows you to sell the home for less than you owe and settle the deficiency balance.
You walk away from the home without owing any more money
How I Can Help You With Your Short Sale
- You don’t have to do any communication with your bank: If we work together, I do all communications with the bank. You only communicate with me.
- You get full document support: You only have to provide me with a basic financial package – I complete all of the required paperwork so you’re not spending a ton of time filling out the bank’s forms.
- You get help in presenting your financial information so you can pass the financial eligibility requirement: Banks require you to demonstrate that you truly cannot afford your mortgage anymore. Getting help with how you present your income and expenses can help you avoid making common mistakes that could mess up your approval chances.
- You get a draft of your hardship letter with suggested language so you can pass the hardship eligibility requirement: Banks require that your reason for default fit within 5 eligible hardship reasons. I help ensure that we phrase your hardship letter to meet this requirement.
- You get full negotiation services for the best available terms: I always request a relocation incentive for you at the outset of negotiations and I do everything I can to get the most money approved from the bank to go toward discretionary expenses like utilities and other judgments.
- You get full negotiations against all creditors attached to the home: Many times, you will have other liens or judgments that need to be paid in conjunction with the sale. I work with all the creditors to find out how much is owed and negotiate with the creditors who are holding negotiable judgments.
- You get support in presenting information to the buyer of your home: It is very common for buyers to cover outstanding costs in a short sale. I present information to the buyer’s side and assist the agents in obtaining coverage.
- You get access to a team of agents that I know, trust and have worked with for years that are true experts when it comes to short sales: These agents understand listing strategy, they know the documents they need to provide, they understand how to advocate for your needs and negotiate with the buyer of your home. They understand how to work quickly when up against a foreclosure timeline and they understand how to support the value of your home and provide counteroffers to buyers.
- Please note – I will never force you to use an agent that I know. I also work with your agent if that is your preference. My goal is to make you feel comfortable. As long as your agent is on board with working with me, I’m always happy to meet them and work together to complete your short sale.
- You get full attorney-review of your approval paperwork and your closing paperwork to ensure you receive the deficiency waiver: Once approved, I review your paperwork to ensure that your bank is set to waive the remaining amount of debt owed following the short sale so you can walk away without owing anything additional.
If you want to talk about your situation to see if a short sale would be a good option for you, please call me at (425) 654- 1674.