Have you fallen behind on mortgage payments or know that you are going to be falling behind soon?
Are you suffering from a hardship like medical bills, loss of job, loss of rental income, death in the family or divorce? Or maybe your adjustable rate mortgage has reset and you can not longer afford your payments? Or, are you upside-down in your equity versus what you owe on your mortgage? Confused on what to do?
If you answered YES to any of these questions, we may be able to help you figure out your options.
Let Susanne Help You!
Greetings! Did you know that Tennessee areas are experiencing the highest foreclosure rate in history? Did you know that 1 in every 142 homes in our area is going to foreclosure, which is 2.5 times the national average? There are many factors that are contributing to the foreclosure situation being what it is and we want to be a resource for homeowners who are in this very predicament. The truth is, despite popular belief, banks do not want to take these properties back through foreclosure, banks do not want to be in the real estate business! In fact, banks are eager to offer pre-foreclosure solutions to homeowners so that the foreclosure process can be avoided.
If you are behind on mortgage payments, have little to no equity in your home and think you are out of options, please call us as we can probably help. We are a team of licensed of real estate agents that are short sale specialists who specialize in working with mortgage companies to provide pre-foreclosure solutions to homeowners who are in this very situation. This service is free to you. If we are able to help you, your bank will pay us a fee on your behalf.
You need to know that Tennessee has the fourth fastest foreclosure process in the country and because of that, you must act quickly. Please call us today for a free consultation. We look forward to working with you!
FACT: Only 25% of Short Sales close due to the Scattershot approach used by most agents who are not properly trained. The truth is that most agents who are attempting short sales both on the listing and buying side have NO training and if they have some training it is simply not enough training. The short sale process requires an expertise like no other.
~ Michael Spickes - Leading Expert in Short Sales
Frequently Asked Questions:
What are my options before foreclosure?
If you want to stay in your home long-term, you should ask your lender if you qualify for a loan modification. If you choose that route, make sure that you understand the fine print and exactly what you will owe at the end.
If you want to sell the property and remove the debt owed to the lender, you could consider a short sale.
You could simply foreclose.
What are the benefits of a short sale versus foreclosure?
Short sales damage your credit far less than a foreclosure and for less years.
You may be cleared for a balance due or judgment by the lender with a short sale.
You can remain in the home until it is closed with a short sale.
You are able to know that you did the right thing with the lender versus walking away.
Some types of loans, will give you some moving money at closing.
There are many benefits to a short sale that should not be overlooked.
What is required to do a short sale with my lender(s)?
You must have a hardship which could include but is not limited to: loss of income, medical hardship, relocation, divorce, loss of job.
The lender(s) will require documents and a hardship letter from you that will include: 3 months of bank statements, 3 years of tax returns, any documentation supporting your hardship etc...
If you have an FHA loan, you can be approved into the program before you put your home on the market to get a buyer.
If you have a Conventional or VA mortgage, you should put your home on the market and get a buyer before you submit your final package to the lender.
You may or may not have to be behind in your mortgage to be accepted for a short sale. Those guidelines are lender specific.
If you want to sell as a short sale:
Susanne Flynn has not only closed many short sales, but, actually did a short sale on her own home! This means that Susanne knows step by step the process for both the seller and the bank. Did you know the faster you act means money to you at closing? That's right! Some banks will give you "cash for keys" and the amounts vary on how quickly your home sells. Susanne is up to date as to what the banks are currently doing, the percentages that the bank will take and the closing costs that a bank will offer to a buyer. These percentages and well tested strategies are necessary to your success as a seller and to her as a short sale expert.
Pricing Strategy + Massive Exposure + Staging of Property on the Internet + Package Preparation Skills + Lender Qualifications + Negotiation = Successful Short Sale Experience for You
We do expect you to keep the house somewhat clean and also to have a lockbox on your home. We also expect to control the list price at all times.
Short Sale Listings are FREE for you to list and the lending bank pays Susanne's fees at closing! For more information click here.