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There are countless hardships that can turn home ownership from a dream come true into a total nightmare. The loss of a job, medical bills, or an unexpected hike in monthly payments can all make a mortgage unaffordable. But ignoring the bills will not make them go away, it will only make things worse.
If you need help, there are approaches that can solve your situation. You may not even be familiar with them. One of these Solutions is a short sale.
In an approved short sale, the lender agrees to accept less than the current amount that is owed for the property, and the homeowner is relieved of the debt. A lender may be willing to do this because it spares a lot of hassle and expense involved in executing a foreclosure. And typically, a short sale does far less damage to the homeowner’s credit than a foreclosure does.
If you would like to explore the possibility of a short sale for your property, avoid foreclosure, and potentially save your credit rating, please complete the form on this page. A qualified No Equity Solutions representative will be in touch with helpful information.
Short selling is not just for people facing foreclosure. The real estate bubble has burst and as a result home prices are falling dramatically. People wanting to sell there home are truly seeing how poorly the market is doing. If you find yourself in a situation where you cannot sell your home for what you owe to the bank, we can help you arrange a short sale.
What is a Short Sale? For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale. "When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due.
HOW DOES IT WORK? Our company will work with your current lenders loss mitigation department to negotiate a short sale.
Why Lenders Accept our Stop Foreclosure Program and Short Sales:
- It costs the lender a lot of money, time and resources to to foreclose on a property.
- Lets face it, they are lenders, and are not in business of buying and selling real estate
- A short sale helps stop and absorb any additional further losses and gives the lender an immediate pay-off from the buyer.
- Companies like No Equity Solutions help lenders eliminate and reduce portions of the administration as we help their loss mitigation departments. We do this by presenting borrowers with a specific process and system with procedures and protocols. Without us involved, many times this process would not be followed by individuals thus further creating more deficiency for the homeowner and lender too.
- A REO (banked-owned property) is a truly a liability, not an asset to the bank
- In addition, our company helps their administration costs as they can work with a company who understands the correct mitigation process.
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