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Do you owe more than your home is worth or are you are facing foreclosure?
If so, we may be able to assist you with a
“Short Sale.” The Short Sale is a process where we negotiate with your
bank to accept less than what you currently owe on your mortgage. Potentially saving you tens of
thousands of dollars and more importantly, your credit and ability to purchase a
home again in the near future.
We have helped dozens of clients with successful short sales and we know
how to make the process successful and as smooth as possible.
If you are facing foreclosure or are having a hard time making your
mortgage payments, let us start negotiating with your mortgage company to relieve you of
some of the stress involved. We can help you with:
- Stopping foreclosure. We can personally make an
offer to your lender on your property to halt the foreclosure process and allow
us time to complete a short sale.
- We can reduce the impact on your credit, preserving
your ability to purchase a home in the future.
- A foreclosure will impact your credit for 10 years
but a successful short sale will in general, only impact
your credit for the next 2-3 years.
We'll be respectful of your privacy and explain the
entire process so that you feel comfortable with us and the results.
Call us at (512) 850-4510 to have brief discussion about your situation
and how ROCK Properties can help. We are a reputable company located in
the Austin, Texas area since 2003 and we offer our expertise to assist homeowners
during these difficult financial times.
Short Sale FAQs
Are There Consequences of a Short Sale?
Yes, but they are way less severe than a foreclosure. A
foreclosure is the ‘atomic bomb’ of credit hits. The consequences of a
short sale may (or may not) include some or all of the following, it
depends on the lending institution:
- Deficiency Judgment
- 1099 (If you owe a debt to someone else and they cancel or forgive that debt, the
canceled amount may be taxable.)
- Drop in Credit Score
The Mortgage Forgiveness Debt Relief Act and Debt
Cancellation
The Mortgage Debt Relief Act of 2007 generally allows taxpayers to
exclude income from the discharge of debt on their principal residence.
Debt reduced through mortgage restructuring, as well as mortgage debt
forgiven in connection with a foreclosure, qualifies for the relief:
hhttp://www.irs.gov/individuals/article/0,,id=179414,00.html
What is a mortgage default?
A mortgage is considered to be in default when one or more monthly payments have
been missed.
What solutions are available if I am in default on my mortgage payments?
We can offer you a variety of options, including the following:
- Short Sale/Payoff
- Leasing
- Quick Sale
- Loan Modification
- Deed in Lieu of Foreclosure
What is a Short Sale/Payoff?
A
Short Sale occurs when a homeowner sells their property for an amount less
than the mortgage amount owed to the lender.
How do I qualify for assistance?
Qualifying is not difficult. The homeowner simply needs explain
why they are experiencing a financial
hardship.
What is a "Hardship"?
A hardship is a situation that that has resulted in the homeowner's inability to pay the mortgage.
Some examples are:
- Separation or Divorce
- Medical Bills
- Inability to work due to health reasons
- Death of Spouse
- Job Relocation
- Reduced Income or Unemployment
- Business Failure
How do I apply for help?
Contact us and we will consult with you about the best option available.
How do I qualify for a Short Sale?
We will walk you through the process. The borrower must show that a hardship exists
and the lender must be willing to
accept the short sale proceeds as ettlement of the debt.
What is required from the property owner?
The property owner must:
- Sign a listing agreement with a Realtor
- Provide documentation such as hardship letter, tax
returns, W2's, bank statements, etc.
- List the property for sale
- Cooperate with access, showings, offers and with the Realtor
- Vacate the home following close of title
- Agree not to refinance or otherwise encumber the property
- Be responsible to maintain the home in "show" condition
- Be responsible for minor repairs to the home
- Be a responsible homeowner until close of title and vacancy of home.
Can any Real Estate Agent assist me in selling my home in a short sale
situation?
Possibly, but usually you have only one shot to succeed in a short sale
transaction, it is therefore highly recommended you work with a company
experienced in short sale negotiations that can properly represent you in this
specialized field.
How do I find a qualified Short Sale broker/agent?
You already have:-) If you are ever dissatisfied with our service, we
will terminate our contract upon request. All you have to do is
tell us the reason for your dissatisfaction or other valid reason for
not concluding the sale. We appreciate our customers feedback and the
opportunities to improve our service.
How can you help me?
Attached is a partial list of our services:
- Can help you avoid foreclosure and eviction
- Help you minimize credit damages
- Counsel you through the process
- Act as the liaison between you and the lender to
ensure all parties work together toward a successful
Short Sale
How much do you charge for your services?
Our Services are free to you. Our fees are paid by the lender upon successful negotiation and sale of your
property.
Email us here for more information,
or contact ROCK Properties at 512-850-4510 to
learn if a short sale is a viable option for you.
Call us at 512-850-4510 or COMPLETE THIS FORM ⇒⇒⇒
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