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8/9/2019 Short Sale eBook for Shortsalepromiami.com 060110
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SPECIAL REPORT
$97
How To Stop Foreclosure With a Short Sale
FREE
By Russ Irizarry
South Florida Short SalesA registered member of the
Better Business Bureau
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Table of Contents
Introduction 3
The Foreclosure Process 4
Options to Avoid Foreclosure 7
What is a Short Sale? 10
Financial Effects of a Short Sale 13
Actual Credit report after a Short Sale 15
Short Sale Case Studies 16Short Sale Benefits 24
Foreclosure vs. Short Sales Comparison 25
Frequently Asked Questions 27
Beware of Foreclosure Rescue Scams 29
Conclusion 30
Testimonials from past sellers 33
Disclaimer
The content in this presentation is based upon our research, knowledge and experience. In no wayis any information contained herein to be interpreted as legal or tax advice. To be assured of soundlegal advice with regards to foreclosure, real estate, bankruptcy or agency laws, please employ theuse of a competent legal or tax professional and/or your real estate broker.
Please consult your broker, accountant and attorney, as appropriate, for advice specific to yoursituation. Although every effort is made to keep this presentation current and relevant, it is yourresponsibility to seek guidance from qualified professionals in order to keep up with rapidlychanging market conditions and periodic changes to the law.
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IInnttrroodduuccttiioonn
Inside this report, you will find valuable information on the foreclosure process in the
state of Florida, the foreclosure timeline, several options to avoiding foreclosure, and an
overall explanation of Short Sales and the Short Sale process, and some sample casestudies.
I have shown homeowners not only how to stop foreclosure, but also how to
successfully get their homes sold with a Short Sale with the least amount of damage to
their credit and finances. My team has negotiated short sales successfully with major
lenders such as Wells Fargo, Bank of America, Chase, Citi, Aurora, Suntrust,
Indymac/One West, WaMu, Saxon, GMAC, EMC, Litton Loans, and BBT.
If you are facing foreclosure, this may be the first time. Well, its not our first time and if
you let us help you then we can guide you to make logical decisions that will not onlystop your current foreclosure, but will set you up for future financial success.
If you have any questions whatsoever as you are reading this, please feel free to call me
at 1-866-412-5269 anytime. My service is available 24/7. You can also email me at
Whats important is that you understand your options so
that you can make the very best, most logical decision.
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The Foreclosure Process
The Foreclosure Process varies by State, and falls into two categories: Judicial, and Non-
Judicial.
Non-Judicial Foreclosure process happens without the courts. (full discussion isbeyond the scope of this report)
Judicial Foreclosure is processed though the courts, as in the state of FL.
(For detailed information on the Foreclosure process in Miami-DadeCounty, go to: www.miamidade.gov/foreclosure)
33 SSttaaggeess ooff FFoorreecclloossuurree
I Pre-Foreclosureis the period between the Banks Notice of Default (Lis Pendens) to
the Borrower, and the property going to a Foreclosure sale.
II Public Auction (the actual Foreclosure) is the 2nd phase. This is where the property issold on the courthouse steps. (In Dade County at 140 W. Flagler room 908 daily at
11am)
III REO is the final phase of the cycle. Here, the Bank has foreclosed and owns the
property, and will eventually put the property on market.
For the sake of this report, we will only be discussing the Pre-Foreclosure stage. In the
Pre-Foreclosure stage, the homeowner has several options prior to the property going
to Public Auction. Options for avoiding foreclosure can be categorized as follows:
1.Staying in house (slowing or stopping Foreclosure)2.Moving from house
But before we get into the options, its important for you to understand the pre-
foreclosure timeline.
Stage I - Preforeclosure Stage II
Public Auction Stage III Bank Owned REO
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Pre-Foreclosure Timeline
As you can see from the above timeline, you have approximately 8 months from the
time you start missing payments, to the time the bank takes the property back at public
auction.
However, due to large volume of foreclosures now being taken back by the lenders, theprocess can take longer than a year. Again, if you want to see details of the process in
Miami-Dade county, go to: www.miamidade.gov/foreclosure.
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FFoorreecclloossuurreess
DDiidd yyoouu KKnnooww?? A homeowner who goes through foreclosure is ineligible for a Fannie Mae backed
loan for 5 years thereafter, and an investor owner is ineligible for 7 years thereafter.
Future mortgage loans and interest % rates will be affected because the foreclosed
homeowner must answer Yes to the Form 1003 Uniform Residential Loan Application
question Have you had property foreclosed upon or given title or deed in lieu thereof
in the last 7 years?
A foreclosure can affect credit scores downward by 200-300 points, typical for over 3years
Foreclosure stays on credit history for 10 years
Current and future employment may be affected as many employers now require
credit checks, particularly for employees in financial or sensitive positions.
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The first and most important thing you need to know about Bankruptcy is that it
does not permanently stop or prevent a foreclosure from occurring, it can only
temporarily freeze a foreclosure action.
Options to Avoid Foreclosure
There are Two Categories of Options:1. Staying in House
2. Moving from House
If you fall behind in your loan, you should contact your creditors as quickly as possible
and attempt to work out a voluntary repayment plan. The sooner you contact your
lender, the more options you will have.
1. OPTIONS FOR STAYING IN THE HOUSE
Refinance: The borrower pays off the existing mortgage loan with proceeds from a
new loan with more favorable terms. (must do before missing payments) Refinance willnot be an option if there is no equity in the home.
Repayment Plan: The borrower is allowed to catch up on missed payments by
making more than the monthly payment until the amount is brought current. (very
difficult to do if the financial problem is not temporary)
Forbearance Plan: Bank allows you to skip monthly payments temporarily, or make
partial payments for a specified time. Missed payments may be added to principal or
become part of a repayment plan or loan mod. (can only do if financial problem is
temporary)
Loan Modification: Allows for changes to the original terms of a borrowers
promissory note, which may include an adjustment to the interest rate %, an extension
of the loan term, or adding missed payments to principal. If your loan is backed by
Fannie Mae/Freddie Mac, you can have your loan refinanced or modified FREE OF
CHARGE if you qualify. Go towww.makinghomeaffordable.govto see if you qualify.
Bankruptcy: A borrowers loan may be changed from the original terms based on a
Loan Modification as part of a court-approved reorganization plan. Your options would
be either Chapter 7, or a Chapter 13. I cannot give legal advice, (in as much as my
parents would have loved for me to become an attorney), so I strongly advise you do
your own research. Try a Google search with the terms foreclosure vs. bankruptcy or
can bankruptcy stop foreclosure.
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A Final Note: All the above options for staying in the house have one thing in common
the homeowner MUST be in a position to make some sort of reasonable payment
that is agreeable to the Bank, and make it on time every month.
On Feb 18, 2009 the Obama Administration announced the Making Home
Affordable (MHA) Program, a plan to stabilize the housing market and
offer FREE assistance to homeowners by reducing mortgage payments to
affordable levels and preventing foreclosures. You can find out if you
qualify by going to www.makinghomeaffordable.gov. Also, your local
HUD office will also review your loan modification options with you FREE
OF CHARGE. Go to www.hud.gov.
If you have fully explored all of your options
for staying in the house and have been unable to
find a comfortable solution, then you need to
consider your options for moving from the house.
2. OPTIONS FOR MOVING FROM THE HOUSE
Deed-In-Lieu of Foreclosure:
Allows for the owner to voluntarilytransfer a property to the bank without goingthrough the full foreclosure process. Essentially, the owner gives the deed back to the
bank. A Deed-In-Lieu shortens the process for the bank, with less costs. It has the
same negative impact on credit as a foreclosure - a black mark for 7 years. The courts
are not involved. A Deed-In-Lieu is not an option if there is more than 1 mortgage or
lien on the house. You should contact your lender as early as possible to find out if this
is an option.
Walk away and do nothing, resulting in Foreclosure. It is unfortunate that one of
the most common options by homeowners is to do NOTHING. This is most likely due to
fear, confusion, and lack of knowledge of all of the available options. Doing nothing is
absolutely the worst option because of the negative effects a Foreclosure will have on
your credit and your future. It will be very difficult to find a place to rent, finance a car,
or apply for employment. Every time your credit is pulled, your foreclosure will come
back to haunt you.
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The Short Sale:
The Bank agrees to accept less than what is owed to settle the mortgage in full (a
discounted pay-off), and release or satisfy its lien upon the sale. For example:
Home Sold Price: $300,000Mortgage Balance: $450,000
Short: ($150,000)
There are clear advantages to a Short Sale versus a Foreclosure for both
the homeowner and Bank in virtually all situations (see graph on p. 21).
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WWhhaatt iiss aa SShhoorrtt SSaallee??
If you have been unable to arrange an acceptable agreement with your
lender, or find another suitable solution in a TIMELY MANNER, then it is
time to seriously consider selling.
A Short Sale occurs when the proceeds of a real estate sale fall short of the mortgage
balance owed on the property. In 2008, Short Sales accounted for about 11% of U.S.
homes sales.
In Miami-Dade county, Short Sales make up about 35%* of all homes on the market.
In Miami-Dade over 2,200 Short Sales have closed successfully from Jan 1 Sep 30
2009.* Those homeowners successfully avoided foreclosure.
Two conditions must exist for the lender to consider a
Short Sale:
1. There must be little or no equity in the property.
2. Homeowner must prove a legitimate hardship.
WWhhyyddoo LLeennddeerrss CCoonnssiiddeerr SShhoorrttSSaalleess??
Lenders will consider Short Sales for the following reasons:
Lenders are in the business of making loans, not owning real estate.
If the lender forecloses, the value of the loan increases their liabilities, reduces
their ability to make loans, and contributes to their insolvency.
Foreclosures cost lenders time and money. It costs an estimated $60,000+ to
foreclose.
The Short Sale offer is equal to or less than what a lender can expect to lose by
foreclosing and selling the property at a future date (especially in a market where
prices are depreciating). The property is in less sellable condition at time of foreclosure.
Lenders created the Short Sale option as an alternative to foreclosure.
* source: Southeast Florida MLS
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Obama Administration offers
incentives for short sales
On Feb 18, 2009 the Obama Administration announced the Making Home Affordable
(MHA) Program, a plan to stabilize the housing market and offer FREE assistance to
homeowners by reducing mortgage payments to affordable levels and preventing
foreclosures.
You can find out if you qualify by going to www.makinghomeaffordable.gov. Also,
your local HUD office will also review your loan modification options with you at NO
CHARGE to you. Go towww.hud.gov.
On May 14, 2009, the Obama Administration announced incentives and uniform
procedures for Short Sales under its new Foreclosure Alternatives, as part of the
Making Home Affordable Program. Incentives: Incentives include: (1) $1,000 for mortgage servicers for successful
completion of a short sale or deed-in-lieu of foreclosure; (2) $1,500 for
borrowers/homeowners to help with relocation expenses; and (3) up to $1,000
toward the cost of paying junior lien holders to release their liens.
Standardized Documents: The program will include streamlined and standardized
documents, including a Short Sale Agreement and an Offer Acceptance Letter. The
goal is to minimize complexity and increase use of the Short Sale option.
WWhhaatt DDooccuummeennttss AArree
RReeqquuiirreedd ffoorr aa sshhoorrtt
SSaallee??
The Sellers Lender will require the following documentation from the Seller to consider
the Short Sale:
Purchase and Sale Agreement this is the contract to sell your house between you
and your buyer
Hardship Letter a letter written by you to your lender explaining your hardship and
why you can no long make your mortgage payments.
Authorization to Release Information Form signed by you authorizing your lender to
release information and negotiate the short sale with your agent, buyer, or other 3rd
party such as attorney or title company.
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HUD1 financial summary of the transaction that that tells the lender the sales price
and the proposed payoff.
Financial Statement A summary of your monthly income and expenses, your assets
and liabilities.
2 most recent Bank Statements, 2 most recent Federal Tax returns, and 2 most recent
paystubs.
The compilation of all of the above documents is what makes up a completed Short
Sale Package. The main purpose of the Short Sale package is to substantiate your
hardship to the lender, and prove that you can no longer make your payments. Your
bank wants to see that you simply cannot afford your house anymore.
The Short Sale Package is similar to making an application to purchase a
house, except youre doing it IN REVERSE!! Youre making an application to
get out of a house.
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FFiinnaanncciiaall EEffffeeccttss
OOff AA SShhoorrtt SSaallee
A Short Sale can affect credit your FICO credit score downward by 100-200 points.
However, once the property is sold, it will show as account settled on your credit
report.. A short sale is considered to be less damaging to your credit as compared to a
Foreclosure which can affect your credit downward score by 200-300 points.
A Short Sale can result in a deficiency Judgment. There is the risk that the bank can
pursue a judgment for the shortage (difference b/w total mortgage owed and sale
amount). However, if there is no money to be recovered (if the seller doesnt have any
other assets worth pursuing) a deficiency judgment may not be enforced. In mostcases, the lender is more likely to issue a 1099C for the amount of debt relief. (See your
local CPA for details.)
NOTE: A lender can still pursue a deficiency judgment even if the home
goes to foreclosure for the difference b/w the REO sale price and the total
mortgage balance!! HOWEVER..By doing the Short Sale, we can
negotiate with your lender to waive the right to pursue a deficiency.
ANOTHER NOTE: In the state of Florida, certain assets are protected from
a deficiency judgment. These include your homestead (primary
residence), life insurance policies and annuity contracts, pension andprofit sharing plans, IRAs, disability income and prepaid college plans.
(see your local attorney for details, do your own research)
One of the things we ask for when negotiating a Short Sale is a full Satisfaction of Lien
or that the lender waive its right to pursue a deficiency. If the bank does satisfy the lien,
the bank will most likely issue a 1099C for amount of debt forgiven.
Example:
Mortgage balance: $450,000
Approved Short Sale payoff: $300,000
Shortage/Deficiency:
In this example, the bank may send the seller a 1099C showing $150,000 as income. In
the eyes of the IRS, debt relief = income to seller.
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However, the good news is..
In 2007, Congress passed the Mortgage Forgiveness Debt Relief Act of 2007 which
eliminates taxation on debt forgiveness on owner-occupied homes. It applies to debt
forgiven between 2007 and 2012.
You can read all about Mortgage Forgiveness Debt Relief Actof 2007at the IRS
website here:
http://www.irs.gov/individuals/article/0,,id=179414,00.html
So in the above example, if the bank sends you a 1099C for $150,000, you would not
have to pay income tax on it if the property was your primary residence. (Again, see
your accountant for details, and do your own research)
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Actual Credit Report After a
Short Sale
The above screenshot was taken from a credit report of a homeowner who successfully
sold their property as a short sale. Had the property not been sold, it would have gone
to foreclosure. The seller hadnt made a payment in over 6 months.
As you can see, the account status was reported as Account legally paid in full for less
than the full balance. There are many factors which will invariably affect your credit
score, however, the credit impact of a short sale is considered to be less damaging than
a deed-in-lieu of foreclosure, or a foreclosure.
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Short Sale Case Studies
Below are some recent examples of Short Sales that we have successfully completed in
Miami-Dade County. I have also attached the respective Short Sale Payoff approval
from the lender.
CASE STUDY 1.
___________________________________________________________________
CASE STUDY 2.
22161 SW 94 Ave
Cutler Bay, FL 33190
Lien Amount Negotiated Short Sale
1st
Mortgage (Saxon Mortgage) $519,750 $215,464
21470 SW 86 Pl
Cutler Bay, FL 33189
Lien Amount Negotiated Short Sale
1st Mortgage (WaMu) $198,000 $134,2242
ndMortgage (WaMu) $ 49,000 $ 2,000
TOTAL $247,000 $136,224
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__________________________________________________________________
CASE STUDY 3.
3355 NE 13 Cir Dr #104
Homestead, FL 33033
Lien Amount Negotiated Short Sale
1st Mortgage (Chase Mortgage) $169,306 $41,219
____________________________________________________________________
CASE STUDY 4.
17655 SW 80 Ct
Palmetto Bay, FL 33157
Lien Amount Negotiated Short Sale
1st Mortgage (Chase Mortgage) $722,500 $337,741
____________________________________________________________________
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____________________________________________________________________
CASE STUDY 5.
8493 sw 158 ct
Miami, FL 33193
Lien Amount Negotiated Short Sale
1st Mortgage (Indymac/One West) $320,000 $170,040
____________________________________________________________________
See the corresponding Short Sale payoff approvals on the
following 4 pages.
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SShhoorrtt SSaallee BBeenneeffiittss
The following are the greatest benefits of the Short Sale transaction:
Sellers get the house sold and remove a major burden. The sale allows
them to move on with their lives.
Credit ratings are not as damaged as compared to a Deed-In-Lieu, or a
Foreclosure Action. Sellers can regain their financial stability much sooner,
and qualify for a new mortgage easier and quicker at some time in the
future. Credit will heal faster.
The Short Sale can be negotiated so there is no deficiency judgment. The
mortgage lien can be satisfied (depending upon the lenders approval).
Sellers have a greater sense of personal dignity by having their home sold,
versus losing the property to foreclosure.
The 1099C received by the sellers for the amount of debt relieved by the
lender is non-taxable if the home is their primary residence. (The Mortgage
Forgiveness Debt Relief Act of 2007 eliminates taxation on debit forgiveness
if the residence was owner-occupied. See your accountant for details. This is
not tax advice.)
Per Fannie Mae guidelines, you can be eligible for a new home mortgage
only after 2 years, versus 5 years with a Foreclosure
In order to more easily see why the Short Sale option is
preferable over Foreclosure, we have provided a side by
side comparison on the following page...
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Foreclosure vs. Short SaleIssue Foreclosure Successful Short Sale
Future Fannie Mae Loan On a Primary
Residence (effective5/21/08)
A homeowner who loses a home
to foreclosure is ineligible for aFannie Mae backed mortgage for
a period of5 years.
A homeowner who successfully
negotiates and closes a shortsale will be eligible for a Fannie
Mae backed mortgage afteronly 2 years.
Future Fannie Mae Loan on a Non-Primary
Residence (effective May21, 2008)
An investor who allows aproperty to go to foreclosure is
ineligible for a Fannie Maebacked investment mortgage for
a period of7 years.
An investor who successfullynegotiates and closes a short
sale will be eligible for a FannieMae backed investment
mortgage after only 2 years.
Future Loan with anymortgage company
On any future 1003 Application
(standard loan application), aprospective borrower will have toanswer YES to question C in
Section VIII, that asks, Haveyou had property foreclosed
upon, or given title or deed inlieu thereof? This will affect
all future rates.
There is no similar declaration,or question regarding a short
sale.
Credit Score
Score may be lowered anywherefrom 250 to over 300 points.
Typically, this will affect score forover 3 years.
Only late payments onmortgage will show, and after
sale, mortgage will be report as
account settled or accountpaid or negotiated. This canlower score from 50 100
points, if all other paymentsare being made. The credit
effect of a short sale can be asbrief as 12 to 18 mos.
Credit HistoryForeclosure will remain as a
public record on a persons credithistory for 10 years or ore.
A short sale is not reportedon a credit history. There isno specific reporting item for
short sale. The loan istypically reported as accountsettled or account paid.
Security ClearancesForeclosure is the most
challenging issue against asecurity clearance outside of a
conviction for a serious
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Security Clearances(continued)
misdemeanor felony. If a clienthas a foreclosure, and is a police
officer, in the military, agovernment employee, a security
officer, or any position that
requires a security clearance,in almost all cases, clearance
will be revoked and positionwill be terminated.
A short sale, on its own, doesnot challenge most security
clearances.
Current Employment
Employers have the right, andare actively and regularlychecking the credit of all
employees who are insensitive positions. A
foreclosure, in many cases, is
grounds for immediatereassignment or termination.
A short sale is not reported ona credit report, and is therefore
not a challenge toemployment.
Future Employment
Many employers are requiringcredit checks on all job
applicants. A foreclosure is oneof the most detrimental credititems an applicant can have,
and, in most cases, willchallenge employment.
A short sale is not reported ona credit report, and is therefore
not a challenge toemployment.
Deficiency Judgment
In 100% of foreclosures inFlorida, the bank has the right
to pursue a deficiencyjudgment.
In a successful short sale, it ispossible to convince the
lender to give up the rightto pursue a deficiencyjudgment against the
homeowner.
Deficiency Judgmentamount
In a foreclosure, the home willhave to go through an REOprocess if it does not sell at
auction. In most cases, this willresult in a lower sales price, and
a longer time to sell in a
declining market. This will resultin a higher possible
deficiency judgment.
In a property negotiated shortsale, the home is sold at a pricethat should be close to marketvalue, and in almost all cases,
will be better than an REO sale,resulting in a lower
deficiency amount.
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Frequently Asked Questions
Will a Lender accept a short sale if my payments are current?
Speak to your lender. In most cases they will accept a short sale if you can
prove a financial hardship that is not temporary, have explored all of your
options (refinance or loan modification), and will soon no longer to be able
to make your payments.
Can you guarantee that the bank wont come after us for the deficiency if
we do the Short Sale?
No we cannot guarantee that. It is up to your lender. However, we can tell
you that the bank will have to incur costs if they pursue a deficiencyjudgment. Unless you have great credit, are not delinquent, or have
significant assets, most banks will not. A lender usually releases liability of
the mortgagee as part of the short sale approval, and issues a 1099 instead
(depends on the lender, and your financial position).
What is a 1099?
1099 is a form used by the IRS to report various types
of income. The bank may report the amount of debt
forgiven to the IRS, which you will have to report as
income on your tax return whether or not you receive
the 1099 (Debt relief = income). However, in 2007
Congress passed the Mortgage Forgiveness Debt Relief
Act of 2007 which eliminates taxation on debt
forgiveness on owner-occupied homes. Applies to debt forgiven
between 2007 and 2012. (Again, were not giving you tax advice. See your
local CPA for details.)
Why do I have to provide personal financial data?
In order for the bank to approve your Short Sale, you need to prove your
financial hardship. The hardship needs to be justified and documented. The
supporting documents required by the lender are 2 recent pay stubs, 2
recent bank statements, 2 most recent tax returns and a financial
statement.
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How long does the Short Sale process take?
From submission of the Short Sale package to final approval can take
anywhere from 90 to 180 days. The Short Sale Package must be 100%
complete, and there must be continuous follow-up with the lender. You
must call the lender (and usually be on hold for 20 minutes) at least 2 times
per wk.
Can I Short Sale the property myself?
In most cases the lender will want to see that there is a realtor involved, and
there was an attempt to market the property. You can attempt to Short Sell
the property yourself, however, there are 2 potential pitfalls:
1st- If you dont have specific knowledge of the market, you will not know
how to price your property correctly to generate buyer interest and get the
property sold.
2nd- When negotiating the offer with your lender, you will need to provide
them with a very specific set of documentation, including a very strong
justification supporting the offered price. If this is not done correctly, it will
most likely lead to the offer being declined or simply ignored. You will now
have wasted time that you don't have while the lender continues to
foreclose on the property.
Can I receive any proceeds from the sale?
Since you owe more than the property is worth, the lender will not permit
you to receive any proceeds from the sale.
Is there any guarantee that my lender will accept a Short Sale?
We make every effort to work with your lender on your behalf and get them
to accept a short sale. However, we could never make any guarantees that
your lender will accept the Short Sale. All lenders are different and every
situation is different. One thing is for sure, they do not want your property
back and many times they will accept a short sale if it makes financial sense
for them. Our goal is to come up with a win/win offer.
Will this cost me anything?
We do not charge any fees.
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ALERT!! Beware of Foreclosure Rescue ScamsHELP is free!!
Scam artists often target homeowners who are struggling
to meet their mortgage commitment, or anxious to selltheir home. Recognize and avoid common scams. Assistance from a HUD approved housing counselor is
FREE. Go towww.Hud.gov for more info. Beware of anyone who asks you to pay a fee in exchange
for a counseling service or modification of a loan. Beware of people who pressure to sign papers
immediately or try to convince you that they can saveyour home if you sign or transfer over your deed to yourhouse.
Do not sign over the deed to your property to anyorganization or individual unless you are working directlywith your mortgage company to forgive your debt.
Never make a mortgage payment to anyone other thanyour mortgage company without their approval.
Learn your options and your rights and be an informedconsumer!
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CCoonncclluussiioonn
If your payments are several months behind, your lender
may have already started the foreclosure proceeding.
As time passes, thousands of dollars in penalties and
legal fees can be added to the balance. Time is not on your side. You
must REALIZE that you need help. THE QUALITY OF THE HELP YOU SEEK
WILL MAKE A DIFFERENCE IN THE END.
The reason I wrote this Special Report is to provide information, and help
homeowners understand their options. My intention is to help educate,
and hopefully lessen any confusion, fear, or anxiety there may be about the
foreclosure process. I hope you found the information in this report to be
helpful. Please call me anytime at 1-866-412-5269 if you would like to
discuss any of these options, and I will gladly answer your questions.
When the market was hot, I sold hundreds of homes and became
successful in real estate sales. When the market turned, many clients came
to me looking for help. For me it is a MORAL OBLIGATION to help past
clients to whom Ive sold homes in the past.
To hold myself to a higher standard, I registered my company with the
Southeast Florida Better Business Bureau. You can check me out here:
http://www.seflorida.bbb.org/Home.aspx
South Florida Short Sales
6538 Collins Ave #67
Miami Beach, FL 33141
Ive also set up a free hotline, that you can call anytime if you have any
questions related to real estate, the foreclosure process, Short Sales, or
anything in this Special Report.
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I invite you to call me anytime. It would be a privilege to have the
opportunity to answer your questions and be a trusted real estate resource.
If you have already decided that it is in your best interest to sell the
property and are ready to discuss this option, call me, and here is what we
will do:
Initial phone consultation with you to make sure youve explored all
of your options (ie. loan modification)
If youdecide that a Short Sale is for you, well set an appointment
with you to discuss the process in detail. We will guide you through all
of the necessary paperwork and what is required.
If your property qualifies, we submit a cash purchase offer to the
lender(s) with a completed Short Sale package.
We negotiate a settlement with your lender(s). We continue to market the property and secure an end buyer while
we are negotiating with your lender to accept a short sale. You
cooperate by making the house available to show.
We pay off lender(s) and close with the end buyer.
WWhhyyWWoorrkk WWiitthh UUss??
You get an immediate cash purchase offer on the property allowing us
to get the Short Sale started NOW. The closing will be handled by an Attorney owned Title Company,
locally owned and operated.
We are Professional Short Sale Specialists. Negotiating Short Sales is
what we do exclusively and full time, nothing else.
Call us at 1-866-412-5269
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WE DONT CHARGE ANY FEES, AND YOU DONT PAY ANY
COMMISSIONS.
We are a local company, located in Miami-Dade County, FL.
We are an A rated company with the Better Business Bureau
Our priority is to create a WIN-WIN-WIN for all parties involved:
Homeowner Avoids Foreclosure!
Lender Gets a bad loan off their books!
Buyer Gets a home they want at a great price!
Buyers lender creates a new performing loan!
Realtors get paid $$ on the sale!Neighborhood avoids a vacant house!
Economy stimulated by all of the above!!!
Thank you for taking the time to read this Special Report. If you know of
anyone else who could benefit from the services I provide, I would sincerely
appreciate the opportunity to be of assistance to them as well.
In friendship,
Russ Irizarry1-866-412-5269www.AvoidForeclosureMiamiDade.com
www.StopForeclosureMiamiDade.com
www.ShortSaleProMiami.com
Who is Russ Irizarry?Russ Irizarry has been a resident of Miami-Dade
county since 1996. He is a former CPA with a Big 5
accounting firm and a Fortune 500 corporate
background. From 1998 to 2005 he worked for a top
national homebuilding company, selling hundreds of
homes to families in the Miami-Dade county area.
Since 2001 he has actively invested in real estate with
rehabbing, landlording, and wholesaling experience.
Since 2007 he has worked short sales exclusively,
helping homeowners avoid foreclosure in all areas ofMiami-Dade county.
You are welcome to contact him at
http://www.stopforeclosuremiamidade.com/http://www.shortsalepromiami.com/mailto:[email protected]:[email protected]:[email protected]://www.shortsalepromiami.com/http://www.stopforeclosuremiamidade.com/8/9/2019 Short Sale eBook for Shortsalepromiami.com 060110
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Testimonials
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Testimonials
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Testimonials
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Testimonials