Short Sale Services,
Foreclosure Help
Don't Face Foreclosure ALONE.
Due
to increased interest rates and higher
mortgage payments, many homeowners are losing
their homes to foreclosure and many more are
falling behind on their payments.
Don't let
this happen to you!
Metro Atlanta Foreclosures Reach a Record High:
15,253 foreclosures in the year 2000, 44,971 in 2006, Record high in
the month of January 2007: 4,823!
No end in sight -- Why? Adjustable Rate Mortgages (ARMs),
Credit Tightening, and if you haven’t noticed a tough economy.
There is
a solution and help for homeowners that take
the right actions. One of the actions
you can take is to contact real estate short
sale specialists like our company. When
you allow us to
start working with you we can try to negotiate a
successful short sale with your lender today and
save your credit.
Contact SWD Homes
to
sell
your house now. Please call
678-298-4591 Ext. 105,
24/7. Leave your information
with our live operator
and one of our short sale real estate specialists
in metro Atlanta
will get back to you ASAP.
"Or Click here"
to fill out a form on this site and one of our
short sale real estate specialists will get back to you
ASAP.
Definition of
real estate short sale
A sale of a house in which the proceeds fall
short of what the owner still owes on the
mortgage. Many lenders will agree to accept the
proceeds of a short sale and forgive the rest of
what is owed on the mortgage when the owner
cannot make the mortgage payments. By accepting
a short sale, the lender can avoid a lengthy and
costly foreclosure, and the owner is able to pay
off the loan for less than what he owes.
Why Should I
do a short sale.
A short sale represents a solution for a
homeowner who cannot pay his mortgage, due to
some type of real hardship, and wants
to walk away from the property without blemishing his credit
and financial profile through a foreclosure or
bankruptcy declaration.
Why would a lender do a short sale.
In most cases banks will accept a short sale
instead of foreclosing on the property. Believe
it or not, lenders will do short sales because
lenders do not want to own real estate! They are
in the mortgage business, not the real estate
business.
The foreclosure
process is the only recourse that the bank has
to reclaim their money... and most foreclosures
end with the homeowner giving up," Don't Give
Up We May Be Able To Help" as they do not
have the means to recover. The foreclosure
process usually dictates that the property be
sold at Sheriffs Sale (or auction) so that the
bank can recover what they can and apply it
against what is owed. Until the Sheriffs Sale,
the property is considered Preforeclosure. This
is the best stage to contact
Real Estate
Short Sale Specialist Like our Company. Once the Sheriffs Sale has passed, the property
then becomes a foreclosure property.
The lender makes the opening bid at the Sheriffs
Sale which is usually what is currently owed on
the property (including unpaid balance,
interest, and legal fees). Since there is
little to no
equity, most properties have no bidders at
the Sheriffs Sale and the property goes back to
the bank and becomes Real Estate Owned (REO).
This means that the banks will be taking a major
loss as they take back more and more properties
into their inventory. The more properties that
the bank takes back (REO) the more it impedes
their ability to borrow money. Since the bank
is in the business of borrowing money so that
they can lend money, it is counter productive
for them to take back the properties. It is in
their best interest to liquidate their losses on
each and every non performing asset - the
properties that are in foreclosure. This is
why Lenders will consider doing a mortgage short
sale.
Contact SWD Homes
to
sell
your house now. Please call
678-298-4591 Ext. 105,
24/7. Leave your information
with our live operator
and one of our short sale real estate specialists
metro Atlanta
will get back to you ASAP.
"Or Click here"
to fill out a form on this site and one of our
short sale real estate specialists will get back to you
ASAP.
FAQ'S About Short Sales.
 | What happens to the seller's credit
rating when they allow an investor to short
sell their property?
What typically happens is the loan will show
up as "paid" on their credit report; however
there will be a notation that says "settled
for less than originally owed" or something
along these lines. It is more favorable for a
homeowner to short sell than to have a
foreclosure on their credit report.
|
| Where do you find investors for Short
Sales?
Depending on where you live, you may see
investors who advertise with bandit signs or
in your local newspaper. Call the investors
directly and ask them if they are experienced
in doing short sales and if they would be
interested in working with you. If you live in
Metro Atlanta, Gwinnett County, Hall County,
we can help you.
"Click here"
|
| Define Short Sale?
A short sale is really a form of
pre-foreclosure sale and occurs when the
mortgagee agrees to accept less than the loan
amount to avoid foreclosure. A negotiated
short sale results in a discounted purchase
price for the buyer. The buyer would finance
the acquisition much the same as in any
conventional realty acquisition... but without
the luxury of time.
|
| Can an owner profit from a Short Sale?
The seller cannot profit (monetarily) from a
pre-foreclosure short sale. But there are
always exceptions to the rule.
|
| How do bankruptcies affect the
possibility of doing a short sale?
Most mortgagees won't consider a short sale if
the homeowner is in bankruptcy...why? Because
negotiating a short sale payoff is considered
a collection activity. Collection activities
are prohibited in bankruptcy.
|
| Can somebody tell me what documents do
I have to include in a Short Sale package?
Documents depend on the lender. Each lender
has different requirements. It is typical to
require a hardship letter, purchase and sales
contract, settlement statement (HUD 1), net
sheet, pay stubs, bank statements, personal
financial sheet (monthly budget), amongst
other things.
|
| What percentage of mortgage companies
send someone out for an appraisal on a
possible short sale?
All lenders order a BPO or full appraisal of
the property before making their decision to
accept or reject the short sale offer. This is
their way of assessing the value of the
property.
|
| How late in the pre-foreclosure process
can you start a short sale?
Try to allow a window of at least 60 to 90
days to negotiate a mortgagee approved,
pre-foreclosure short sale. Due to the
increase in foreclosures, lenders may be willing to postpone the
actual sale date to allow more time for the
negotiation process. "But you need to act fast so contact us
today."
"Click here" |
Contact SWD Homes
to
sell
your house now. Please call
678-298-4591 Ext. 105,
24/7. Leave your information
with our live operator
and one of our short sale real estate specialists
metro Atlanta
will get back to you ASAP.
"Or Click here"
to fill out a form on this site and one of our
short sale real estate specialists will get back to you
ASAP.
“How to
Avoid or Stop Foreclosure and Save Your Credit...”
Dear Homeowner,
If you are headed toward foreclosure, or are
already in foreclosure, you need to know the
rights and options available to you now. Only
then can you save your house, save your credit,
or save your equity before it’s gone forever.
Once you get behind on your mortgage, the clock
is ticking. The sooner you decide on the course
of action, the more cash you and your family can
pull out of your house, and the better chance
you’ll have of stopping the bank from
foreclosing your home.
Should you sell your house now?
Maybe we can buy your house quickly and easily.
There’s no need to go through the uncertainty of
listing your house with an agent or trying to
sell it yourself. There’s no need to spend money
fixing up your house to please a picky buyer.
