1. A foreclosure will affect your credit for many years and makes getting back on your feet a struggle. With a foreclosure you are prevented from obtaining home financing for at least 7 years.
With a foreclosure, you could be pestered by collection agencies and lawyers for the outstanding balances, penalties, and collection fees.
2. A Short Sale is less damaging to your credit. With a short sale many lenders say that you can obtain home financing to purchase again in 2 years.
You can negotiate to have any outstanding balances, penalties, and collection fees cleared by your lenders.
A hardship that can prove a reason that you can no longer pay your mortgage payments.
No available savings to pay your mortgage or cover negative equity from the sale.
A ready, willing and qualified buyer to purchase your home.
Mortgage holders are highly motivated to move high risk loans off their books. In some cases they will even cover your moving expenses.
As with all programs the market changes and short sales may soon be phased out.
SO DON’T PROCRASTINATE …GET STARTED NOW!
The Stewart Sisters are here to help you. Here is the plan:
First we have to show the lender that you are serious. To do that we need to get your home listed. This tells the lender you are actively trying to find a buyer.
You can do what you are doing now: paying your mortgage or not paying your mortgage, living in the home or not living in the home.
Call or email the Stewart Sisters, Natalie or Noelle, 770-439-9999 team@stewartbrokers.com and we will:
Visit the property and do a property condition check. If any repairs are needed we will inform the existing lender. This will help them determine a settlement price they would accept when considering offers. That helps us determine a list price.
Determine a current fair market value that will immediately attract offers.
Get the property on the market.
Help you prepare a hardship package and start short sale discussions with the mortgage servicer.
Our law firm partner will negotiate and handle the details with your lender. They may be able to get you some additional time before foreclosure.
Enthusiastically market and show the property until we have offers.
Negotiate sales contracts between you and the new buyers.
Prior to presenting an offer to your lender it is imperative that we make sure we have a buyer who will offer an acceptable price to your lender and be able to close. This is most important as time is ticking on towards your foreclosure. It takes up to 60 days to get approval of an offer from your lender. We don’t want to waste precious marketing time being tied up with a bad deal that does not close.
Obtain the existing lender’s approval when we have a promising offer.
Once we have the property under contract, buyer’s loan approved and existing lender’s approval of the final closing statement, we will CLOSE.
During this whole process we will keep you informed as to the progress of the sale.
How much does this cost you? ... NOTHING! ...Our services to you are free!
Some reasons of hardship that your lender may consider agreeing to a short sale:
Job loss or out of state transfer requiring a relocation.
Loss of income.
Divorce.
Death of a family member living in the household.
Medical bills.
An adjustable rate mortgage has reset with a higher payment you can’t afford.
You are completely upside down on the mortgage debt Vs. the neighborhood home values.
Dramatically increased crime and gang activity in your neighborhood.
Our Coverage Area:
Metro Atlanta and surrounding counties of Barrow, Bartow, Clayton, Cobb, Cherokee, Coweta, DeKalb, Fayette, Forsyth, Fulton, Gwinnett, Hall, Haralson, Henry, Paulding, Polk counties.