IS YOUR HOME MORE THAN YOU CAN HANDLE?
If so, you can relax because we have the solutions, experience and Determination and knowledge that will eliminate your home mortgage debt problems, opportunity to protect your credit, the possibility to avoid tax issues and most importantly allow you to give you piece of mind and allow you to move forward with your life.
We are NOT nor have we EVER been mortgage brokers trying to put it to you again... We are a combination of Attorneys, Real Estate Investors, Real Estate Brokers and industry experts dedicated to providing YOU the best solutions possible for your situation.
The housing market crash has affected EVERYONE! You are NOT ALONE!
It's unbelievable and for many not foreseeable by the average person however the market has brought property values down 20% - 50% and even more in some areas. If your property has lost significant value and you're worried about trying to sell your home YOU DON'T HAVE TO WORRY ANYMORE! Contact us RIGHT NOW at 800-997-3437.
CLICK HERE TO LISTEN TO WHAT OUR CLIENTS HAVE TO SAY!
If you're reading this like a lot of people you probably fall in one of the following categories:
If you have one of the above or similar issues DON'T GIVE UP WE CAN HELP! You don't have to have a foreclosure that will stay on your credit for 7 to 8 years a Short Sale is your answer! Contact us RIGHT NOW at 800-997-3437.
There are many reasons why you would be better of Short Selling your home here are a few:
1. SHORTER PERIOD OF DAMAGED CREDIT - A Foreclosure will stay on your credit report for 7 to 8 years, but a bank Short Sale will typically only last about 24 months on your credit report. And, our Credit Repair Attorneys can often get the Short Sale removed much sooner then that.
2. BETTER FICO SCORE - A Foreclosure more negatively affects your FICO score. Many mortgage experts believe that a Foreclosure will drop your FICO score by 100 to 200 points more than a Short Sale does. If you want to borrower money in the next 5 to 7 years for a car, boat, or a home, then the Short Sale will make a big improvement.
3. MUCH SHORTER DELAY TO RENEWED LOAN WORTHINESS - Fannie Mae (FNMA) recently changed their underwriting policy. This new policy now requires a past homeowner to wait 5 years after a Foreclosure Sale before FNMA will underwrite a new loan. But, if the homeowner conducted a Short Sale, then the wait time for a new loan with FNMA is just 2 Years! Contact us RIGHT NOW at 800-997-3437.
4. PROBABLE RELIEF FROM HELOC 2ND MORTGAGE - If you have a 2nd TD HELOC mortgage, and the 1st Mortgage Bank were to Foreclose, the 2nd TD HELOC loan is not deleted from your debts as a "purchase money" 2nd TD would be. In these situations, the 2nd TD HELOC loan becomes unsecured debt, and the HELOC mortgage bank may take other legal means to collect their debt. During a Short Sale, we are often able to negotiate with the 1st Lender and the 2nd HELOC lender, to highly reduce or eliminate the HELOC loan debt and thereby avoid legal debt liabilities.
5. DIGNIFIED SOLUTION - During a Short Sale, you decide to sell your home to another potential home buyer - just like your neighbors have over the years. It is a relatively pleasant and dignified resolution to a very tough situation. On the other hand, after the Foreclosure sale, a Bank representative comes by the home to lock up the doors and windows and change the locks, and if you are still there, they contact the local Sheriff to have you forcibly evicted. Then the home sits vacant for several months as the grass gets brown and the trash and the papers collect in the yard. The agent for the bank usually slaps 'Bank Foreclosure' signs all over the property while the house sits empty waiting for a sale.
6. EASIER TO FIND NEW HOME - If you are like most people in this situation, you will be looking for a home to rent after this issue is resolved. It is easier to find a nicer home to rent if you conduct a Short Sale versus a Foreclosure. Most property managers obtain a credit report . A Short Sale whereby you cooperated with your bank to resolve the situation is much better then a Foreclosure on your credit report. Often times, this will allow you to rent a home in a better location with a lower rent payment.
7. MOVING ASSISTANCE - We can negotiate with our affiliate service providers to assist you with your moving and relocation plans, which will save you money and hassles. Give us a call for details in this regard.
8. LEAVING THE PROPERTY ON YOUR TERMS - While conducting a short sale you will be able to plan your move not to mention if you're delinquent on your loan you will be able to save money every month until your new owner takes possession. Be able to leave your home on your terms and not the bank's is true empowerment. Contact us RIGHT NOW at 800-997-3437.
OK so I need a Short Sale but WHY USE PREMIERE?
As you're going to find below if you're looking at doing a short sale there's simply no other option other than to use Premiere. We are NOT Mortgage Brokers trying to reinvent ourselves. We are Attorneys, Real Estate Investors, Real Estate Brokers and Industry experts dedicated to this industry. Here are just a few reasons why YOU NEED OUR SERVICE for your situation:
1. ABILITY TO GET AN OFFER TODAY! Premiere is the only company that has EXCLUSIVE agreements with some of the nation's largest Real Estate Investment Clubs such as PLATINUM REIC. The benefit for you is that we shop your property to these investors which means we have 1000's of buyers looking for properties JUST LIKE YOURS! In fact last year all of our 100's of properties nationwide had an offer on an average of about 10 DAYS!!!
2. LEGAL SHORT SALE! Premiere is the only company that gives you the ability of a TRUE Legal Short Sale. Most companies that say they're "Attorney backed" means in most cases an attorney simply signs paperwork. Premiere has Attorneys for all facets of the short sale from:
The longer you wait, the harder it is for us to help.
Contact us RIGHT NOW at 800-997-3437 for your free no obligation consultation. Time is NOT on your side but WE ARE! Don't lose anymore sleep, STOP FIGHTING with the spouse and put your mind at ease by picking up the phone right now and dialing 800-997-34347. Remember NOBODY and I mean NOBODY processes more short sales than Premiere and has the experience and team to represent your completely, thoroughly and accurately so stop waiting and pick up the phone NOW!
We have helped 1000's homeowners nationwide, and WE CAN HELP YOU TOO!
Remember YOU ONLY HAVE ONE SHOT AT THIS PROCESS AND YOU CAN'T PUT YOUR TIME, FAMILY AND PROPERTY AT RISK TO SOMEONE TRYING TO FIGURE IT OUT. PICK UP THE PHONE RIGHT NOW AND CALL 800-997-3437 OR FILL OUT OUR FORM TODAY!
A Short Sale, also known as a Short Payoff or Pre-Foreclosure Workout, is an agreement with a lender to accept less than the amount owed by a borrower via the sale of the property to a third party. With this agreement, the lender releases the borrower from the mortgage, thereby preventing foreclosure.
Short Sales provide an excellent, win-win solution for the distressed homeowner and their bank. The homeowner avoids a foreclosure on their record and the bank avoids the effort and expense of the foreclosure process.
A Short Sale can be one of the best options for many homeowners facing foreclosure. A Short Sale allows the homeowner to sell the property and remove the secured debt associated with the home. The seller can walk away from the sale with significantly less damage than a foreclosure.
A homeowner who decides to Short Sale their property typically experiences less impact to his/her credit. There are no upfront fees or costs associated with a straight Short Sale. Your lender pays for all fees including, closing costs, escrow fees and Realtor commissions.
A Short Sale is sometimes the best course of action when homeowners who do not have equity in their homes are delinquent in their monthly payments or in default of the terms of their loan. Short Sales offer struggling homeowners an opportunity to wipe the slate clean and get a fresh start.
For various reasons, some homeowners may not be able to fulfill their mortgage obligations. These reasons commonly include financial hardship due to increased mortgage payments, job loss and other family emergencies.
If you are no longer in a position to make mortgage payments, are facing foreclosure, and the current market value of the property ( including closing costs to sell your property) is less than the loan(s) on the property, you should consider a Short Sale. Also if you have tried modifying your loan and were denied or you have a 2nd or investment property you can no longer afford to hold on to.
A Short Sale saves you from having a foreclosure on your credit history and releases you from an obligation you can no longer afford.
If you are faced with a hardship that makes it likely you will be unable to meet your obligation on your mortgage, your lender would prefer a Short Sale. Short Sales are more beneficial to a lender than a foreclosure. Lenders are not in the business of managing and owning property and Short Sales are less expensive than completing the foreclosure process.
In order to be eligible for a Short Sale, a homeowner must be able to prove to the lender that they are a victim to a "hardship" and as a result are therefore unable to continue making payments on their mortgage.
A hardship situation is one that is the result of some extenuating circumstances that forced the borrower into a position where they can no longer afford their mortgage payments. Every situation is unique and must be evaluated individually.
There are several common factors a lender will consider when approving a Short Sale. Again, each situation is different and must be evaluated on an individual basis. Ask yourself the following:
If you answered yes, to these questions, and can provide a financial hardship, you will likely qualify for a Short Sale. Ultimately, the decision is up to your lender.
To some extent, that will depend upon the mortgage company. Generally, as long as the hardship is real and the lender believes the loan is likely to become, or is currently delinquent, the Short Sale request will be approved by the lender's loss mitigation department. A key to obtaining an approval is strong letter explaining the hardship situation of the borrower.
Below is a list of some "hardships" that are frequently accepted by lenders:
Nothing. Your lender will pay all real estate commissions, title and escrow, closing costs, and any approved home repairs.
The reason your lender will do this is because they are trying to avoid the even larger losses and expenses associated with the foreclosure process.
Your lender will require a specific set of supporting financial documents to consider a Short Sale. Each lender has different requirements. All lenders typically require a Short Sale package containing the following documents:
Your lender will want an explanation of the circumstances that are preventing you from continuing with your ownership of the property. This is known as the hardship letter.
It's easy. Call us directly at 800-997-3437 for a consultation or CLICK HERE to fill out our form. It's that simple. Call us and we will begin the process immediately.
Most lenders require that your home be listed with a Realtor before they even consider a Short Sale. Lenders want to make sure that the home is exposed to buyers and that the house is priced right.
Negotiating a Short Sale between the borrower and the lender takes skill, patience and expertise. Everyone involved in the transaction needs to know what to expect. In a Short Sale, all Realtor commissions are paid by the lender.
The answer is, maybe. There are lenders that will accept a Short Sale file for approval on loans that are not yet delinquent. Other lenders will not accept the file until the loan is in fact delinquent. We can put your Short Sale file together and submit it for approval. This is the best way to determine if your lender(s) will accept a file for approval on a loan that is not delinquent.
Yes. Many homeowners have two mortgages on their properties. This is common. We can work with both lenders (many times the same lender holds the 1st and 2nd loans) to put together a Short Sale transaction. Even if the value of your home is below the balance of the 1st mortgage, we can normally get the two lenders to cooperate.
In the end, neither lender benefits from having the property go through foreclosure.
Yes. We handle all residential properties in all price ranges, including residential commercial apartment buildings.
Absolutely. In fact, lenders are more motivated to do a Short Sale on a property that needs work than on a property that doesn't. Lenders know the risk of loss increases when they foreclose on a property in need of substantial repairs.
Lenders are in the loan business, not the home improvement business. They would prefer to dispose of the property through a Short Sale, rather than foreclosing and becoming responsible for repairing it.
One of the primary benefits of a successful Short Sale is avoiding the credit damage of a foreclosure. A big key here is to avoid foreclosure. Short Sales have a far less damaging affect on your credit report than a foreclosure.
Note: There may be drawbacks to financial decisions you make. This is for informational purposes only. A Short Sale may have credit, legal or tax consequences.
Yes, however, it does get much more complicated and may take longer to complete a Short Sale. Each lien holder will have to be negotiated with individually.
When a lender agrees to a Short Sale and sells a property for less than the outstanding mortgage debt, the amount of the debt that the lender writes off is treated as ordinary income. Despite the fact the owner is in default or facing foreclosure, this amount is treated as forgiveness of debt, and the taxpayer will typically receive a 1099 for the amount of the cancellation of debt.
The amount of the debt or the ordinary income may or may not be subject to taxation depending upon different circumstances.
Under the Mortgage Forgiveness Debt Relief Act of 2007 (H.R. 3648) signed by the President in 2007, IRS code § 108(a)(1)E), provides that a taxpayer will not be taxed upon cancellation of debt income if certain conditions are met.
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Disclaimer: Please note this is for informational purposes only. Each and every situation is unique and different unto it's own. For your specific situation please contact us immediately at 800-997-3437 to work with our specific Attorneys regarding these issues.
Yes, you can and it is relatively common. Unfortunately although you may have been told differently the reality is 99% of all Realtors don't really know what they're doing when it comes to Short Sales. That's why it's extremely important to contact us immediately at 800-997-3437 so you don't continue to burn precious time that people can't afford to lose.
Yes, but it is more difficult and a longer process.
If you are considering bankruptcy as a way to stop foreclosure, be sure to contact us immediately as bankruptcy may not completely stop a foreclosure.
There are 2 types of services we provide:
1. Straight Short Sale - A Straight Short Sale is the normal service you would receive from any Realtor (who knows what they're doing) or any other Short Sale Company offering services. There is no fee to the homeowner for a Straight Short Sale. In a straight Short Sale, all commissions, title and escrow fees, and even some repair expenses are paid by the lender as part of the Short Sale approval. Lenders approve Short Sales and accept the resulting loss in an effort to avoid bigger losses through foreclosure.
2. Legal Short Sale - With a Legal Short Sale the first step is for us to do a Legal Loan Audit on your loan to expose federal violations that are on most loans. The purpose of this audit is used for many reasons some of which include: Possibly waiving deficiency judgments that are allowed by some states, the opportunity to remove any and all negative credit information PRIOR to the closing of a short sale and in some cases settling HELOC's for pennies on the dollar. Please note ONLY A QUALIFIED EXPERIENCE ATTORNEY WITH A PROVEN TRACK RECORD CAN PROVIDE THESE SERVICES OF WHICH WE HAVE MANY, MANY PROVEN TRANSACTIONS.
Yes! We are happy to work with you on the sale of your home. We are a nationwide company with multiple connections that equate to simply the single most experienced team you can have in your corner. Many of the techniques we use in effectively pricing and marketing homes for our Short Sale clients translate exceptionally well to more traditional homes sales and can help us deliver results in line with your personal goals regarding your home sale. Please call us at 800-997-3437 today and we will be happy to schedule a listing appointment.
