Frequently Asked Questions

What will your service cost me?

Nothing! We do not charge you any fees to discuss your situation nor provide you with a quote for any of our services.

Is my information kept confidential?

ABSOLUTELY 100%! Your privacy is of the utmost importance to us. Any information you provide is completely confidential! If you want to deal with a reliable, reputable company who will treat you with professionalism, understanding, and respect – YOU HAVE COME TO THE RIGHT PLACE!

If I know of another property your company may want to buy or a client I might want to refer, do you pay a referral fee?

YES! In some cases we will pay you up to $1,000! Contact us directly to discuss the terms.

What if I am behind on my payments, in foreclosure or bankruptcy? What about if my property is under water? Are you still able to help?

YES! We are a professional real estate solutions company with years of experience in solving difficult situations. Please contact us for a confidential consultation.

What is a short sale?

It is one possible way to remedy an upside down mortgage. The homeowner and Mortgage Company or companies negotiate a sale for less than the full balance of the loan at closing.

What is Foreclosure?

A foreclosure occurs when the lender no longer views the relationship as viable. Ownership of the property is then transferred from the homeowner back to the lender.

Short Sale Vs. Foreclosure: Seller Consequences

A common misconception is that short sales and foreclosures have equal consequences for sellers, yet they can vary with an individual’s unique circumstance. Issues like future loans, credit, employment, and financial responsibility can all be impacted by seller decisions. As you will see, there is some overlap between the two types of sales, but short sales are generally more “seller-friendly”.

Future Loans

The ability to receive primary and secondary future loans tends to be less restricted by short sales than foreclosures. After a short sale, the seller must wait 2-3 years after the original sale of the property before applying for additional funds. This amount of time increases to 5-7 years after a home foreclosure.

Credit

Without question, short sales are far better for a seller’s credit score and history. In some cases, scores are lowered by as little as 50 points after a short sale for a period of less than two years. The sale is not typically reported on the seller’s credit history, or is listed only as “negotiated”. However, following a foreclosure, homeowners can expect to see their scores drop by as much as 300 points and the effects will last for up to 7 years.

Employment

Many employers perform credit checks prior to hiring new employees, and frequently use credit scores & history to make decisions about hiring. Since short sales are not listed on a seller’s credit history, there is no impact on employment. A foreclosure is one of the more serious negative items that can show up on a credit check, and employers have every legal right to use it as grounds for termination.

Financial Responsibility

It is possible for a seller to negotiate his/her financial responsibility (otherwise known as a “deficiency judgment”) during a short sale, though it is not an inherent consequence. In almost 100% of cases involving foreclosures, the lender has full right to hold the seller accountable for the balance of funds not covered during the sale.