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Short Sales-Avoid Foreclosure

AVOID FORECLOSURE

Homeowners who have the option of completing a short sale in order to avoid foreclosure may be better served by saving their home in this manner. In some cases I can actually renegotiate the term, monthly payment and back debt to a more comfortable payment allowing you to keep your home.

You owe more on your home than it is worth. Perhaps you have lost your job and are behind several payments. Maybe you are dealing with an increasing payment from an adjustable rate mortgage and are now facing foreclosure. A short sale is a way of selling your home for less than what is owed on it. By negotiating with your mortgage company's loss mitigation department to accept a lower payoff, a short sale can be accomplished.

We first need to meet and discuss your specific situation. I'll be able to put a plan together that best works for you and what's going on with you. Then after gathering a few documents from you, I'll be able to contact your mortgage company directly on your behalf.

Our team of specialists are here to assist you with a mortgage loan modification. We will negotiate with your mortgage lender(s) in an effort to stop foreclosure and produce a long term solution to your problem. Whether you are facing foreclosure, your rate is adjusting or you just cannot afford your mortgage fha va payments any longer, we can help. The hardest part of getting help is making a simple phone call to one of our specialists.

Michael Mergell

(317) 645-8717

MichaelMergell@Remax.net

Typical Documents that will be requested by the mortgage company are as follows:
 
a. Signed listing agreement
b. Sales contract and pre-approval letter or proof of funds to close
c. Preliminary HUD 1 (net sheet) of proposed sale
d. Hardship letter from seller explaining why payments have not been made
e. Proof of income of seller
f. Three months' bank statements of seller
g. Two years' tax returns of seller
h. List of all monthly expenses of seller
i. Contractor's proposal of needed repairs
j. Comparable sales prepared by Realtor in the subdivision
k. Title work on property
l. Signed short sale request document provided by lender
 

Michael Mergell

(317) 645-8717

MichaelMergell@Remax.net

RE/MAX of Indiana | Michael Mergell, RE/MAX Legends Group | 5645 Castle Creek Parkway North, Indianapolis, IN 46250 | 317-849-7653 | Contact Me by E-mail