Foreclosure? I Can Help.

If you are a homeowner who has gotten behind on your mortgage payments, you may feel as if you’re sinking into a deep pit of quicksand. No matter how hard you struggle, there seems to be no way out. The bank is hounding you, the calls and letters flood your time and it seems no one understands how you got in this predicament anyway.

There may be an answer for you that can rescue you from the possibility of bankruptcy and foreclosure, save your credit rating and satisfy the bank. It is called a short sale and I’m the one to help you through the process. I will explain to you that this is not a predatory fly-by-night pipe dream. I’m one of the investors who is looking for pre-foreclosure houses and know how to negotiate with the banks to accept payment of the mortgage in full at a discounted price. Your home may be exactly the type of real estate investment I’m looking for. But there are steps and pitfalls along this journey that you’ll have to take.

A short sale means the bank accepts payment short of the loan. It does not mean it is a quick sale, though it can be. Banks would prefer to sell at a discount than to have another foreclosure to deal with. They are out to take as little loss as possible and a short sale is their best option as well.

I’m a professional who understands the ropes of short sales. I’ll walk you through the process and help with all the details such as gathering  records to show why you’re not financially able to meet your obligation to continue to make payments. Then I’ll prepare you for an inspector who will come through and re-evaluate the fair market value of the house. The number they come up all depends on the prices of other homes in the area, the materials used in the home, it’s age and the age of the roof, A/C, appliances and water heater, the estimated repairs needed to make it sellable again, etc. The figure the agent comes up with is called the BPO (Broker’s Price Option). That is the magic number. The bank will want the me to fork out between 85-90% of that amount in order to satisfy the loan.

I will then buy your house, make the repairs and try to resell it at a higher price than the BPO. That is how I make my money – off the resale, not off you. In the end, the bank is satisfied, I as the investor have made a profit and you have walked away without a foreclosure on your record. True, you won’t make the money you had once hoped to make on the house, but you won’t owe anyone either.

 The last thing ANYONE wants is for you to foreclose.

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