Definition: A Short Sale occurs when a lender agrees to accept less than is owed on a mortgage to avoid Foreclosure. Jeff’s Short Sale Services are different & FREE to Sellers! Do you know someone, who needs to sell their house and move on, but they can't because they owe more than their house is worth? Don’t let them just “Walk-Away” and fall headfirst into a Foreclosure and a Deficiency Judgment, with possible Seizing of Assets, and Wage Garnishment. A SHORT SALE MAY BE THE SOLUTION Nationwide, only 23% of listed Short Sales Close. The reason is simply because Realtors cannot competently handle these transactions with just a few hours at a seminar, or from reading a book.Short Sales are complex transactions. Our Success Rate is 95% of listed Short Sales approved! Short Sales are not a real estate issue, they are a banking issue. I do not work alone, my team is comprised of former mortgage lending executives, real estate attorneys, and seasoned short sale negotiators. Together, my team has closed hundreds of these deals. Our goal is to educate and assist the Homeowners so that they can make the right selling decision for their individual financial situation. We understand the complex Short Sale rules and guidelines, and are fully compliant with all Federal and State Short Sale laws. Together we strive to deliver professional and compassionate service to the Clients we agree to work with. Our goal is to close fast with as few future repercussions as possible to our Client, the Seller. The Bank is NOT our Client, while we must deal honestly with the Bank, we owe all of our allegiance and duty to the Seller for the Seller's future best interests. Jeff’s Short Sale Services are FREE to Sellers. The leading Short Sale Negotiation Company in Illinois and a group of dedicated Attorneys, who focus exclusively on foreclosure issues, will be on your side. Together, we have the experience and knowledge in the banking and real estate world to extract the best outcome FAST for the Sellers we agree to work with. Discover how Jeff and his experienced negotiation team can manage this difficult and complex transaction correctly for YOU. With Jeff’s help, you may: · Avoid owing the remaining balance on your property · Stop a foreclosure on your credit report · Preserve your credit · Find a Sense of Closure FAQS: Will a Short Sale affect my Credit? Yes, but not nearly as much as a Foreclosure will. Foreclosure is a public record forever. A Short Sale is NOT a public record, and is generally listed as “Paid as agreed” or “Settled.” The majority of the negative points after a Short Sale come from any late payments. A Short Sale's affect can be as brief as 12 months, though most are 2 years or so. Foreclosures and most Bankruptcies stay on a Credit Report for 10 years. How does a Foreclosure affect Employment? Most all Employers are requiring Credit Checks on all Job Applicants. A Foreclosure is one of the most detrimental credit items an Applicant can have and in many cases will Challenge Employment. Security Clearances? If a Homeowner has a Foreclosure and is in the Police Force, in the Military, CIA, Security or any other position that requires a Security Clearance, historically, in almost all cases, clearance will be revoked, and his or her position will be terminated. This is not because you are "bad with your budgeting", but because you are perceived to possibly be more inclined to "rationalize" theft or being bribed. A Short Sale on its own does not challenge most Security Clearances. Deficiency Judgments? In Illinois, in almost 100% of Foreclosures, the Bank will pursue a Deficiency Judgment against the Homeowner to recover the loss incurred by Foreclosure. In a successful Short Sale, most Lenders will agree to give up the right to pursue a Deficiency Judgment. Don't let your inexperienced agent "throw you under the bus" by just agreeing to a promissory note for the deficiency. We FIGHT to avoid these for you. The information listed here is the opinion of Jeffrey Cobb. This information should not be considered absolute. Jeffrey Cobb is not an attorney or an accountant. If you are considering a short sale or bankruptcy, Jeffrey Cobb suggests you consult with a REAL ESTATE Attorney and an Accountant who is proficent in both real estate AND short sale matters. (As you would not go to a foot doctor for brain surgery, don't go to a general practitioner for short sale/real estate advice.) The following disclosure is made pursuant to the Federal Trade Commission's MARS Rule. Important Notice: Charles Rutenberg Realty is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating. |