Frequently Asked Questions
What are the benefits of a short-sale?
The most significant benefit of a short-sale is the ability to get out from under your mortgage at no cost. While your FICO score is likely to be impacted, the long-term effect is preferable compared to undergoing a foreclosure. With the help from a short-sale expert you'll be free to move on from your stressful situation.
Will I be responsible for paying any fees?
No. All real estate commissions are paid by the bank at closing. My services are 100%, completely free throughout the entire process.
Do I need a licensed real estate agent for a short-sale transaction?
Yes. Banks require a signed listing agreement in order to process a short sale.
How long does it take for a short-sale to close?
Each short-sale is different but, in most cases, you can expect the process to take 6 to 8 months. It can, however, be completed in less time.
What is the HAFA Program?
The Home Affordable Foreclosure Alternatives (HAFA) Program provides additional options to avoid costly foreclosures and offers incentives to borrowers, servicers and investors who utilize a short-sale or deed-in-lieu (DIL) to avoid foreclosures. HAFA allows a mortgage company to accept less for your home than the amount you owe.
Who negotiates with my lender?
I do! I negotiate the short sale with your lender on your behalf and guide you through the documentation process that the lender requires—helping take some of the stress away from you.
Do I need to be behind on my mortgage to short-sell my property?
No. Some lenders negotiate with qualified homeowners who are current on their mortgage. Contact us to see if you qualify.