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Everyone has heard of a short sale.
But not many understand what is means to the homeowner!
It is a common misconception that your lender wants to foreclose on your house! Your lender is in the business of lending money not selling homes. Lenders lose money when homeowner’s are unable to make their mortgage payments. They make large amounts of money on the interest rate of your mortgage loan.
A short sale is when a lender voluntarily accepts less money than what is owed on the house. A successful short sale is a positive solution to a negative situation. It is a win-win scenario for the distressed homeowner, who avoids a foreclosure and the lender who avoids having another non-income generating mortgage or real estate owned (REO) property. By accepting a short sale it is possible for them to quickly recover more of their money versus spending additional money and finalizing the foreclosure and almost certainly recovering less money. Want to learn more? Visit the Homeowner FAQ.
Does this sound like your short sale?
Very difficult to talk with your lender, becoming frustrated by excessive and lengthy “hold” times, talking to a different person every time, inconsistent information from each person you talk to, finding out that short sale documents you sent them are “incomplete”, or never received by the lender, or they need to be "updated". All the while they continue to tell you they WANT to help you.
You are left feeling like a dog chasing it's tail,....after all you are doing what they ask you to do, right! We understand how stressful and difficult it can be to do this on your own and we are here to help.
Loss Mitigation Center is on your side. We will handle all communications with your lenders on your behalf. We will discuss your situation with them, make sure they have all of the necessary documents, and keep the process moving forward and stay on track. Work with your lenders to get the short sale approved in the shortest time allowable so you can put this situation behind you.
We can help you avoid the frustration of short sales. Complete the Homeowner Assistance Request and Your Short Sale Power Team will manage it for you.
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MANDATORY FTC DISCLOSURE: We are a for-profit company. The Loss Mitigation Center is not associated with the government and our services are not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage you could lose your home and damage your credit rating.
IMPORTANT: We DO NOT provide the services of nor do we act as bankruptcy counselors, attorneys, lenders, accountants, financial planners, financial counselors, nor are we a debt relief agency. The content of our website is not legal advice and represents our opinions only.