Ivan is a Short Sale Specialist (SFR) certified by, and endorsed by the National Association of Realtors. Most property owners who find themselves unable to pay the Mortgage are unaware of OPTIONS such as a short sale and do not understand the best strategies available to preserve their home and their credit The biggest problem in the industry today is the lack of communication between lender and the borrower. In most cases, the borrower is neither aware of his options nor the consequences associated with their decisions Options are: if qualified If you are current with your mortgage payments you may be eligible and able to take advantage of today’s mortgage rates by refinancing to a 30 or 15 year fixed. If the lender will not agree, you may be able to refinance with another lender if you qualify. * Sell and bring cash to closing Forbearance: An agreement to reduce or suspend payments for a short period of time Reinstatement: Paying the total amount owed by a specific date in exchange for the lender agreeing not to foreclose. Repayment Plan: An agreement to resume making monthly payments with a portion of the past due payments each month until you are caught up Loan Modification: The Lender may agree to change the terms of the original loan to make the payments more affordable. For example, missed payments can be added to the existing loan balance, the interest rate may be modified or the loan term extended Homeowners cannot simply decide that they want to go with a short sale; or any of the options listed above, you have to qualify and the lender must agree to it. *Foreclosure process: These options need to be discussed with a qualified finance, tax and legal professional before deciding which course of action is best for your situation in matters of state, federal taxes and legal implications. I am not a lawyer or an accountant and every action has different consequences, whioch I am not qualified to discuss. I am here to assist you in understanding the options. If you are qualified for a short sale: We will always be available for any questions you may have. Ivan and Judi ZuiebackShort Sales Help
*Lender workout which would include:
*Short Sale: Are considered preferable to a foreclosure and is a “pre-foreclosure” activity. People who agree to a short sale with the lender can do less damage to their credit rating than a foreclosure. At least a short seller avoids having a “debt discharged due to a foreclosure” on their credit scores, and could also have to wait up to 7 years to qualify for a mortgage at a reasonable rate. While under a short sale successfully completed a short sale may also qualify for a mortgage at a reasonable interest rate in as little as 18 months.
Pre-foreclosure: Borrower misses payment(s). Lender attempts to contact borrower. Lender sends notice of default (NOD), officially starting the foreclosure process. To wait for the bank to send a notice of default could be too late to work out one of the options above, because you then only have a short time before notice of sale is recorded as published.
Foreclosure /Auction: Foreclosure sale (e.g., auction, trustee’s sale, sheriff’s sale) and is conducted as published. REO: If unsold to another party, ownership of property is involuntarily transferred to the lender. The property is now Real Estate Owned.
I will list and price the property so that the lender will accept it and will assist you in a short sale from the beginning to end. We use a professional management coordinator specializing in short sales which will make sure that all documentation with the lender during the sale you will be kept up to date with on a weekly status report through the closing of the sale.
FORECLOSURE IS NOT THE ONLY ANSWER
“Of all the things I have been through in my life, having my home in foreclosure was, for some reason, one of the most frightening. Having my agent provide a light at the end of the tunnel and get us out of foreclosure was an amazing blessing.” Former Distressed Homeowner
Foreclosure is quite possibly the most devastating financial and emotional process a homeowner or family can go through. But the reality is that many foreclosures should never happen, and homeowners have options - if only they knew where to turn. You may not have to watch your home and keys disappear in the fog of this financial crisis.
We understand the foreclosure process in a way that many real estate agents do not understand. We have consulted with clients, followed the process, and been to the courthouse steps. We have also earned the Short Sale and Foreclosure Resource Certification (SFR), to help ensure that our homeowner clients are working with real estate professionals who are equipped to handle their specific needs. We have a number of pre-foreclosure solutions available to help financially distressed homeowners out of their situation – and not all of them involve losing your home..
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Homeowners who are in a potential foreclosure situation need to speak with us as quickly as possible. For many homeowners foreclosure is not the only option; however, most wait too long and do not get the opportunity to explore alternative solutions.
If it is you, a family member, or a friend who is concerned or distressed, we can help assess the situation and determine the right course of action. |
Unfortunately, we do not have a free ‘get-out-of-your-mortgage’ card. Nobody does, in spite of some of the alluring ads you see. Please do not fall prey to those false promises. However, we do have a proven, careful process to help you handle your situation and get the best possible outcome – so you can get out of this situation and get on with your life.
This is not simple – but you can do it!
Contact Us Today.
