Short Sale Chicago

Avoid Foreclosure. I Can Help.

* IS A SHORT SALE FOR YOU?

In order to determine if a short sale is a good solution for you, you have to analyze your situation carefully. After all it is YOUR LIFE and YOUR FAMILY at stake here.

The following questions will help you understand your circumstances more clearly.
So sit down, take a pen and a piece of paper and answer these questions:

  1. Is your home currently on the market? If so, do you have it listed with a real estate agent?
  2. Who is your mortgage company/lender?
  3. What kind of loan do you have (FHA, VA, conventional, home equity)?
  4. Is there more than one mortgage lien on your property (2nd lien, 3rd lien, etc.)? If so, who are the lenders on the other liens?
  5. How many months behind on payments are you?
  6. When did you purchase your home?
  7. How much did you originally pay for your home?
  8. How much do you currently owe? If you’re not sure, we can determine that by examing your most recent mortgage statements.
  9. Have you taken out a home equity loan? If so, when?
  10. Who is on the title to the property?
  11. Who is on the note (ie, your spouse, relative, co-signer, etc.)?
  12. Where is your home located (full address)?
  13. Please describe your home (ie, 2-story colonial with attached 2-stall garage; unfinished basement, etc.).
  14. Are you currently living in the property? If not, where are you currently living? Are utilities still enabled on the property?
  15. Are you current on your utilities and/or Homeowner Association dues? If you are not current, how much is owed? If hte loan is an FHA, HUD will offer a Seller Incentive to the homeowner for participation in their Pre-Foreclosure Sale Program. This Seller Incentive can pay for those delinquent expenses (in the case of a Conventional or VA loan, the Seller Incentive is not available, so the delinquent bills will need to be taken care of prior to closing).
  16. If the situation is related to a divorce or separation, has the other spouse moved out? Will the other spouse be cooperative in signing paperwork?
  17. Are there any outstanding judgments and/or liens that you are aware of?
  18. What is the condition of the property? If the home is in need of repairs, you may want to consider leaving everything “as is” until after the bank appraisal.
  19. What correspondence have you received from your lender (ie, certified letter, Notice of Default, Notice of Acceleration, Notice of Foreclosure Proceeding) and when was the last correspondence received?
    Once you wrote down your answers call me to further discuss your situation.
    It is A  FREE CONSULTATION.

    I will determine if you are a good candidate for a Short Sale, and if you want to go forward, we can work together.
    You pay nothing.  All the costs of the transaction, including attorney fees and the commission, are covered by the lender.
    Also short sale will NOT appear on your credit report. You will have missing payments and your credit score will take a hit but you will be able to rebuilt it in a relatively short period of time, up to 2 years, depending on what else is late.
    Foreclosure will appear on your credit report for 7 years and bankruptcy for 10.For more information and a FREE REPORT ON SHORT SALES please call

    Barbara Pedersen
    Realtor®, Short Sale Specialist
    (708) 539-9900

    or email:
    b.pedersen@comcast.net
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September 13, 2010 - Posted by | Uncategorized

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