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"Real estate made simple — your trusted guide for buying, selling, and loving life in the heart of the Twin Cities and Woodbury, MN!"
Why you Need an Expert?
Why Would My Lender Accept Less Than Is Owed?
Knowing why and how much your lender does not want to foreclose on your home is crucial to the negotiating process. It’s oftentimes much more expensive for the lender to modify your loan than it is to simply foreclose on you and sell it, or accept a short offer and pay all the associated sales costs.
Of course, your lender would prefer that you stay in your home and continue making payments but selling it and getting the “bad asset” off their books is frequently their next favorite choice. Many lenders will negotiate short sale terms quite favorable to you, oftentimes allowing you to walk away for free and with zero delinquency judgments.
A successful no cost short sale with zero deficiency judgments looming in your future can be possible if you work with an expert team to get it done.
Will I Qualify For A Short Sale?
Has Your Home’s Market Value Dropped?
Whether you’re doing a loan modification or short sale, hard comparable sales will be used to substantiate that your property is worth less than the unpaid balance owed the lender. I provide a comprehensive property value report designed to determine your properties 30, 60 and 90-day sales price value – the same info your lender will want.
Is Your Mortgage Currently In Default or Are You Concerned That It Soon Will Be?
It used to be that lenders would not even consider a loan modification or short sale if your payments were current, but not anymore. Realizing that other factors contribute to a potential default, many lenders are eager to head off future problems at the pass.