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"Short Sales" for Underwater Sellers
Did you know? The bank does not want your home!
For home sellers who owe the lender more than their home is worth, it's not as bleak as it might sound. Negotiating a short sale with your lender(s) could be the best solution, and it is usually always a better alternative than a foreclosure.
So here's some good news: What we have come to understand from experience is that - THE BANK DOES NOT WANT YOUR HOUSE – they simply want their money.
Lenders can spend upwards of tens of thousands of dollars on the foreclosure process, not including continually building interest expenses, just to get back a property that they will have to put more money into before they offer it for sale again, and usually at a lower price than what they could get if they accepted your decision to “short sell” it.
But negotiating a short sale with the lender is a difficult process, generally because it is a daunting task finding a bank officer who has the authority to accept a discount on the loan amount(s) owed. Often times it takes countless attempts calling around to even locate the lender’s “Loss Mitigation Department.” And more than likely, each lender will have a different name for this department.
This is why it is so crucial to work with a real estate professional with experience in successfully completing “short sales,” assisting underwater homeowners sell their home for less than what they owe. And, if you do seek the assistance of a real estate professional, we will receive our compensation (commissions) directly from your lender(s) and only if the short sale is completed successfully, so there is no need to be concerned about any more financial obligations on your part.
Why consider a Short Sale?
As a frustrated homeowner it’s alright to feel like just walking away from your home, BUT there are certain consequences that you should be aware of before you let your home be repossessed by the bank. A foreclosure will damage your credit rating and your ability to borrow money – or buy a home – in the future. In fact, the major providers of mortgage money have recently changed their guidelines to prohibit foreclosed borrowers from getting another mortgage for up to five years unless there are “documented extenuating circumstances,” and even after 5 years, these borrowers will be forced to put down at least 20%.
And after the bank has repossessed your home there is a good chance that they may then come after you for any deficiencies suffered from the balance of the loan, fees, and any foreclosure costs. This could result in an additional judgment on you… you may not be relieved of your financial obligations to the mortgage company even after your home goes to foreclosure. Therefore, you must protect yourself. Acting quickly to keep foreclosure from happening may be in your best interest. But you MUST be proactive to keep this from happening.
A short sale may sound like a lot of work but it can save you from foreclosure, stop or limit the possibility of being hounded relentlessly by your lender for any deficiencies, and will impact your credit less than a foreclosure or bankruptcy. Plus, beginning January 1, 2011, any lender who approves a short sale is not permitted to seek a deficiency against the borrower if the loan is secured by a first deed of trust (first mortgages only) on residential property containing 1 - 4 units.
San Jose,CA - Foreclosure Filings
Here is where we come in:
 The agents of Eagle Properties Group have assisted many homeowners over the past few years successfully negotiate a short sale with their lender(s), allowing the homeowners to walk away from their homes and many times owing no additional amounts to their lenders.
Sound to good to be true? Well give us a call (408) 377-2299 and we'll gladly discuss the details with no obligation. We have been very successful with assisting homeowners with short sales...here is what a past client had to say:
"If one would read an online advertisement of a real estate company, of course they will say how good and superb their services are. But one proven testimony we can share is that the Eagle Properties Group is one of those that are true to what they express and reveal."
Looking back at 2008 & 2009, only about 1 in 7 short sales were successfully closed by real estate agents in Santa Clara County - that's less than a 15% success rate. Check our stats - we've been extremely successful because we know what we're doing and have the experience and contacts with most major banks to prove it.
Now for obvious reasons, we cannot guarantee that every short sale we take on will close or that every short seller will be able to walk away from their home without any further obligations as every sale has its own unique challenges, but we will make the best effort possible to help a short seller sell their property. But we have the experience and the knowledge to streamline short sales - getting your short sale approved immediately, meaning more buyers will be interested in your home as the sale will be able to close in a significantly shorter time period than other short sales.
If you want to be contacted regarding all the options that you may have regarding the possible short sale of your home please fill out the information requested below and we will get back to you with a free no obligation consultation.
 Request Guide for Short Sales: we'll send you a FREE 'Guide for Short Sellers' at no cost or obligation
Additional Links:
MARS Disclosure:
Our company, Eagle Properties Group, Inc., is not associated with the government and our services have not been approved by the government or your lender.
Even if you accept this offer (choose to use our services) and use our service, your lender may not agree to change your loan (we cannot guarantee that your lender will approve your request to short sale your property).
You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance from your lender [or servicer]. If you reject the offer, you do not have to pay us. If you accept the offer, you will have to pay us a real estate commission (assuming we have successfully sold your home) for our services.
Never stop communicating with your lender or mortgage servicer, and it is never advisable to stop making your mortgage payments.
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