September 10th, 2010 10:32 PM by Dave Gubler
Orange County Short Sale Experts - Short Sale Specialists Real Mortgage Relief - Bank Cash Rebates: (800)622-6720
Short Sales Benefits
FREE - No Cost to You. Real Mortgage Relief. Protect Your Credit. Back Taxes Elimination. Cash Back From Banks. Dignified Solution. 90% + Success Rate.
We're Orange County's Premier Short Sale Realtors._________________________________________
Data indicates that over 50% of Short Sales fail in Orange County. Why? The fact is that most agents don't possess the experience and knowledge that will produce a successful short sale for you.
A Short Sale is the most complicated of all real estate transactions. You cannot trust just any agent to handle such a challenging sale. IML Short Sale has the experience, training, tenacity & teamwork to get the job done right the first time.
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Are You Feeling The Crunch Of The Economic Crisis?
If you owe more than your home is worth, behind on your mortgage payments, or facing foreclosure, a short sale can provide you real financial relief. We have the Solutions, Experience and Tenacity that can eliminate your home mortgage debt problems, help protect your future credit-worthiness and allow you to get on with your life in a dignified and hassle free manner. We are Orange County, California Short Sale Specialists and our services are FREE to you.
1 out of 4 of Orange County Homeowners Are Upside Down On Their Mortgage.
You are not alone... Due to the big decline in Orange County, California real estate, and the nationwide mortgage loan crisis, many Orance Count homeowners find themselves unable keep up with their increased mortgage payments, and often times the mortgage loan debt is significantly more than the home is worth. This is Negative Equity which means no equity left in the property. Many struggling homeowners are unable to modify or refinance their home loans because they have little or no equity. Unfortunately, many homeowners give up because they think there is nothing they can do to stop the Foreclosure of the home. There definately is something you can do that is far better then Foreclosure... it's called a Short Sale.
What is a Short Sale?
The Short Sale Process is a transaction in which the bank(s) accepts a reduced amount on their mortgage to allow a sale, and thus avoid foreclosure or bankruptcy. For example: A homeowner, who is facing foreclosure, has an existing first mortgage of $450,000. The market value of the home is $300,000. The Mortgage Bank agrees to wipe out $150,000 in mortgage debt, and accepts the offer for $300,000 and the home is sold. In actual practice, a Short Sale is usually the most technical of all residential real estate transactions, so make sure you work with successful professionals.
Today many Orange County homeowners choose a Short Sale to solve their mortgage hardship.
During a Short Sale, our team of experts negotiate with your mortgage banker(s) on your behalf to obtain short sale approvals. Utilizing our expertise and experience we are able to convince the Mortgage Bank(s) to reduce your loan balance on the home and accept a lower settlement in most cases. This allows us to sell your home to a buyer instead of allowing the bank to Foreclose on the property which would ruin your credit, leave you open to deficiency judgments and cause undue embarrassment. You may ask yourself "Why should I care; I have no equity left in my house and nothing left to lose?"... Well, the fact is there are several important reasons why a Short Sale is far better for you compared to Foreclosure... Here's why:
What are the Benefits of Short Sale ?
1.) Less Damaging to Credit Rating: A Foreclosure will severely damage your credit rating for 7 years while a Short Sale is less damaging and it's effect does not linger as long.
2.) Major Banks are Encouraging Short Sales over Foreclosure: Fannie Mae (FNMA) recently changed their underwriting policy so that a past home owner now has to wait 5 years after a Foreclosure before FNMA will underwrite a new loan. If the homeowner conducted a Short Sale the wait time is just 2 Years! Freddie Mac also offers participating Banks a $2,200 incentive to conduct a Short Sale versus Foreclosure.
3.) Probable Relief from HELOC 2nd Mortgage: When the 1st Mortgage Bank forecloses, the 2nd TD HELOC loan is not deleted from your debt. The 2nd TD HELOC Mortgage Bank may take legal means to collect their debt after the Foreclosure. With a Short Sale, we negotiate with both lenders to highly reduce or totally eliminate the HELOC loan debt.
4.) Dignified Solution: With a Short Sale, we sell your home just like your neighbors have done. It's a dignified resolution to a tough situation. On the other hand, after a Foreclosure, a Sheriff performs a lock out, the grass turns brown, and a bank sales representative places 'Bank Foreclosure For Sale' signs in front of the property for your neighbors to see.
5.) Much Shorter Penalty Period to a New Mortgage Loan: Underwriting guidelines currently require five years from a foreclosure to be considered for a mortgage loan. After a short sale you will be eligible for Fannie Mae and Freddie Mac home loans within two years. We have established an association with a National Credit Restoration firm. This firm has been able to make major improvements to the credit ratings of our past short sale clients, within months. But they have extreme difficulty in making improvements to damaged on credit reports resulting from Foreclosure.
6.) "Cash for Cooperation": Some of the banks we work with are now offering home owners a Cash incentive in order to Cooperate with a short sale, versus allowing the property to be Foreclosed on by the Bank. Which Banks and amount of Cash offered, is on a case by case basis.
The longer you wait, the harder it is for us to help.
Most importantly time is of the essence. If Foreclosure proceedings have started on your home, then you have only 3 months and 3 weeks before your home is sold at the public Foreclosure Auction (also known as a Trustee Sale) on the courthouse steps. Now our team of experts can almost always get the foreclosure postponed, but only if you call us. Please don't hesitate, or simply wait in hopes that your financial fortunes will change or that your lender will have your best interests at heart. Arm yourself with information and take definate action!
We have helped numerous homeowners in the counties of Orange, Los Angeles, Riverside, San Bernardino, San Diego, and elsewhere in California, and we can help you as well. Don't trust your home Short Sale with just any Realtor! You may only have one chance at getting this right. Your future financial health depends on the successful outcome of negotiating with your mortgage lender and the subsequent sale of your home.
We've been working in the mortgage and real estate industry with Mortgage, Short Sales, Foreclosures, Standard Sales and Bank Owned properties since 1997. We have negotiated with most, if not all, of the mortgage lenders currently servicing homeloans to reduce loan balances or postpone foreclosures, or to re-structure loans on the behalf of the home owner... In short, we've been involved in every facet of the Shot Sale and/or Foreclosure process and we're here to help you with your mortgage loan hardship.
We are an Experienced Team of Professionals.
Negotiating short sales is a full-time job. At IML Short Sale, all short sale packages go through a very meticulous screening and preparation process. Your short sale package is only submitted to the Bank(s) when it meets our standards and has the greatest chance for approval. Our full-time negotiators have developed a far-reaching network of contacts consisting of mortgage companies, banks, attorneys and accountants. The strength of our experience, knowledge and relationships is invaluable.
Our team experience goes back to the late 1990's when southern California experienced it's last major real estate downturn. We're a licensed brokerage with the Department of Real Estate in the State of California [Lisc #01860292 ]. Best of all, our services are FREE to you, we negotiate our fee with the Bank.
Please give is a call TODAY, so we can begin to help you right away. Call us at: 800-622-6720, we are easy to talk too. Or, drop us an email at: info@IMLRealEstate.com. You can even text message us at: 949-292-2763. Or, fill out the form at the bottom of the page for Short Sale Qualification. We'll keep our conversation and your situation confidential.
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Make It Win-Win Situation. You can obtain a bargain price while helping a struggling homeowner to effectively exit from their underwater home. Even the bank wins as they avoid the additional losses caused by foreclosure.
All Short Sale Homes and Condos Listed for Sale In Orange County California